Summary of Irina Slav: Challenging the dominant narrative | Tom Nelson Pod #119

00:00:00 - 00:55:00

Irina Slav challenges the dominant narrative of the green energy transition in this video discussion. She raises concerns about the reality of subsidies for wind and solar projects, the mismatch between promised green jobs and actual employment opportunities, and the potential environmental destruction that could come with transitioning to alternative energy sources. Slav also discusses issues regarding the recycling of solar panels and the ethical dilemmas involved in copper mining. She concludes by noting how shareholders are challenging the renewable energy narrative and emphasizes the importance of questioning mainstream narratives that do not align with reality.

• 00:00:00 In this section, Irina Slav discusses the challenges faced by the energy transition and the subsidies given to renewable projects. She notes that subsidies are necessary for wind and solar projects because they can't seem to be profitable without them. However, there is still a narrative that wind power is cheap and reliable, which conflicts with the current reality. The CEO of Allstate is requesting more money from the UK government so that they can build the biggest offshore wind project. Ultimately, the problem with offshore wind is that the UK government is pushing the cheap wind power narrative, which is not good for the producers of wind power. Raw material costs are increasing, and subsidies are necessary for a project to be profitable.
• 00:05:00 In this section, the speaker discusses the issue of energy wastage. She mentions that wind farms are often not moving despite the presence of strong winds due to the high cost of maintenance that would require the use of petroleum-derived oil and hydrocarbons. Solar farms have also had to be shut down when producing too much power due to the inability of the grid to cope with the surge. The speaker, however, points out that most of the solar panel modules are made in China using cheap coal power, which is not often talked about. It is suggested that the Chinese are not promoting climate alarmism but are instead busy doing business.
• 00:10:00 In this section, the speakers discuss the motivation behind young people's activism and the prevalence of climate cultism in China. They suggest that many young activists are seeking meaning in life and turn to activism when they can't find it in other occupations, but note that many are financially well-off and don't have to worry about paychecks and bills. Regarding China, they note that while China is the biggest wind and solar market in the world, it is also building more new coal power plants than the rest of the world combined. However, they also acknowledge that China's "all of the above" attitude to energy is pragmatic and that they want reliable power. They also touch on the issue of a shortage of transformers for renewable energy in the US, which highlights the lack of foresight from transition advocates.
• 00:15:00 In this section, Irina Slav discusses the need for electricity generation projects to consider how the electricity will be transmitted from the place of generation to the place of consumption. Slav expresses concern about the possibility of more massive blackouts in the world if appropriate measures are not taken. She mentions how a hundred percent clean energy mandate in Minnesota could lead to a potential problem as those power companies may not run electricity on wind and solar. Furthermore, Slav explains how renewable energy projects can be hacked and vulnerable to cyberattacks, posing a risk to entire energy systems. She also adds how green jobs cannot be fulfilled if people aren't trained for the position, creating a contradiction for those in search of jobs.
• 00:20:00 In this section, Irina Slav discusses the discrepancy between the promised jobs and actual employment opportunities in the renewable energy industry. While there may be a need for people to install equipment for wind and solar power, the number of long-term employment opportunities is not as high as it is in the oil industry. There is also a shortage of people to build the transmission lines to transport electricity generated from renewable sources. Furthermore, there is a lack of clarity on what constitutes a green job. The focus of the industry seems to be more on obtaining subsidies rather than producing electricity. Additionally, there are safety concerns with maintaining solar panels on people's roofs, making the job more dangerous than working in the oil and gas industry.
• 00:25:00 discuss the potential dangers of solar panels and EV batteries, including the risks of fires and challenges for firefighters in combating these fires. Additionally, there have been reports of shortages of minerals needed for wind, solar, and EVs, despite some climate activists claiming otherwise. The conversation emphasizes the importance of seeking the truth and questioning narratives that do not align with reality.
• 00:30:00 In this section, Irina Slav discusses the issue of copper supply for the transition to green energy, and how some advocates suggest recycling more copper rather than mining. However, she notes that this is not a simple solution, as recycling is not as straightforward as some suggest. Slav also touches on the changing attitudes around mining for green materials, with some environmentalists becoming more pro-copper mining to ensure that the necessary raw materials are available for the energy transition. However, there are ethical concerns around mining in certain areas, such as child labor in cobalt mining in the Congo, so the discussion has turned towards responsible and certified mining practices. Despite this, Slav believes that the transition to green energy is becoming a "Rube Goldberg machine," with many moving parts and extra costs, with little evidence that it will prevent future weather disasters.
• 00:35:00 In this section, Irina Slav discusses the tradeoffs involved in transitioning to alternative energy sources, such as wind and solar power. She argues that those in decision-making positions fail to consider the potential environmental destruction that could accompany alternative energy sources. For example, she raises the issue of using animal fats to create aviation fuel and the potential shortage of animal fats that could cause more palm oil production, leading to the destruction of jungles and animal habitat. Additionally, Slav raises the issue of the toxic metals and minerals in solar panels and the need to recycle them as the panels approach the end of their lives.
• 00:40:00 In this section, the speakers discuss the potential waste and lack of recycling that could come with the development of more efficient solar and wind technologies. They express concerns about the economic viability of recycling these materials, as well as the negative environmental impact that the recycling process itself can have. They predict that in 10-20 years, there could be many abandoned wind turbines and solar farms due to their high cost to dispose of, which could lead to an apocalyptic scenario. They also highlight the current state of the oil and gas industry, with OPEC cutting supply and Russia reducing production but not exports. Despite stable demand, prices are low due to concerns about a recession in the Eurozone and inflation in the US.
• 00:45:00 In this section, energy governance specialist, Irina Slav, challenges the hype of the green energy transition and reports by think tanks that suggest a decline in oil and gas production. She questions the motives of investors and reports that show an exit of big oil from wind and solar. Slav suggests that the oil industry's consolidation and pulling out are due to funding and investment disparities between oil and gas and wind and solar. She thinks that it is good to acknowledge how energy works in reality because it's beneficial to energy governance.
• 00:50:00 In this section, the speaker discusses the delusion of the current energy transition and how it will come to an end. While solar, hydrogen, and EVs are the current dominant narrative, they will meet the wall of reality, and money will flow back to oil and gas, making them more expensive. The speaker mentions the consolidation of the industry and the shrinking portion of oil produced by independent oil and gas companies. The pendulum will eventually swing back, and the speaker hopes for more sanity before 2050. However, she adds that many people are still all-in on the climate crisis thing and haven't yet woken up to reality. Nonetheless, rising energy bills and requirements to put heat pumps will make people start questioning the current narrative. Finally, the speaker indicates that ESG has been mentioned way fewer times in company calls, which is encouraging to see the pendulum swing back.
• 00:55:00 In this section, the speaker discusses how shareholders are starting to pay attention to the fact that investments in renewable energy sources such as wind and solar are not bringing higher dividends to companies like BP and Shell. As a result, shareholders are challenging the dominant narrative put forth by the media and various think tanks that renewable energy is the best way forward. The speaker then notes that the West is heading towards a new kind of totalitarianism, where a small group of people decides what everyone else should be doing and prescribes what everyone else must do because they know better. The way to fight back is to continue to speak the truth, even if it goes against the dominant narrative.