State subsidies to trash the environment? (1 Viewer)

[Rich Conway]

https://thebulletin.org/premium/2022-07/how-bitcoin-makes-burning-fossil-fuels-more-profitable-than-ever/

This seems like a terrible idea.  Specifically, states are offering companies subsidies to purchase abandoned coal power plants and fire them up again for the purpose of Bitcoin mining.  Yup, that's right.  PA, NY, and others are going to pay corporations to trash the environment.  The companies will then produce...  nothing, just Bitcoin that the companies keep for themselves.

 

[Juxtatarot]

The sooner cryptos meet their inevitable death the better.

 

[Ilov80s]

It does seem like we may be going in the wrong direction on the environment. Liberals in Germany also made the awful decision of shutting down their nuclear plants. 

 

[2Squirrels1Nut]

The sooner cryptos meet their inevitable death the better.

I own a little but agree.  

It does seem like we may be going in the wrong direction on the environment. Liberals in Germany also made the awful decision of shutting down their nuclear plants. 

They've been slowly phasing them and coal plants out.  

But the German government said this week that decommissioning all nuclear plants next year and then phasing out the use of coal by 2030 won’t affect the country’s energy security or its goal of making Europe's biggest economy “climate neutral” by 2045.

Renewable energy sources delivered almost 46% of the electricity generated in Germany in 2021. Coal, natural gas and other fossil fuels accounted for nearly 41%, while nuclear power provided over 13%, according to the Fraunhofer Institute.

Compared to the US

U.S. energy consumption and electricity generation comes from renewable energy sources? In 2021, renewable energy sources accounted for about 12.2% of total U.S. energy consumption and about 20.1% of electricity generation.