Countries promised to move away from coal, oil and natural gas at last year’s climate summit. New research shows they’re burning more than ever before.
One year after world leaders made a splashy promise to shift away from fossil fuels, countries are burning more oil, natural gas and coal than ever before, researchers said this week. Global carbon dioxide emissions from fossil fuels are on track to reach a record 37.4 billion metric tons in 2024, a 0.8 percent increase over 2023 levels, according to new data from the Global Carbon Project. It’s a trend that puts countries farther from their goal of stopping global warming. The increase was not uniform across the globe. Emissions will most likely decline this year in the United States and Europe, and fossil fuel use in China slowed. Yet that was offset by a surge in carbon dioxide from India and the rest of the world. Source: NYT
As highlighted by Andrea Lisi, CFA on X, market participants and policymakers have not fully understood the heavy toll artificial intelligence will take on our Electrical grid.
As shown on the chart below, a single Google search query typically uses about 0.3 watt-hours (Wh) of electricity. On the other hand, each ChatGPT query is estimated to consume around 2.9 watt-hours of electricity, which means 9.66 times more energy than a Google query! To run AI at scale, both the private and public sectors will have to invest a significant amount of money to strengthen the electricity grid.
JUST IN: White House plans to triple Nuclear Power by 2050 to meet technology demands.
Source: Bloomberg
Uranium ETF $URA forms a Golden Cross for the first time since June 2023.
The last one sent shares soaring more than 50% over the next 7 months! Source: Barchart
No energy, no prosperity.
Source: Magatte Wade @magattew
An agreement would mark the most significant de-escalation of the war since Russia invaded Ukraine in early 2022.
Source: FT
The shocking chart of the day >>> ChatGPT vs Google: Who’s Burning More Energy?
AI is a power-hungry beast, and ChatGPT is no exception—it uses enough energy daily to power 17,000 US homes! In comparison, Google’s vast infrastructure handles trillions of searches but has been optimizing energy consumption for years. Source: AIM on X @Analyticsindiam
Uranium stocks ETF $URA is up +11% last week and +16% for the month, outpacing all other sectors.
Shares in nuclear energy companies surged to record highs last week after Amazon and Google struck landmark power supply deals, boosting efforts to deploy the first small modular reactors (SMRs) in the US. The share prices of US-listed SMR developers Oklo Inc and NuScale power rose by 99% and 36% respectively in the past week, after rivals X-energy and Kairos Power, two private SMR developers, announced the financing agreements. Shares in Cameco, Oklo, NuScale, Constellation and BWX Technologies all traded at record highs over the week. Source: FT
