Save your pennies!

Remember they estimated that it would cost the USA about $100 Trillion for the “New Green Swindle”? Obviously, that estimate will grow quickly because copper is not the only metal or Rare Earth that will soon be in short supply!
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Save your pennies!

Marcus M.

That’s right, save those pennies! Recently, Bloomburg News claimed that another 20 million tons of copper would be needed for electric vehicles, solar, wind and related infrastructure. However, the world now uses 20 million tons of copper already. So where are the other 20 million tons going to come from?

Unfortunately, “Copper production reached about 20.4 million tons in 2018, but has fallen over the past 2 plus years, and is expected to drop more due to water shortages let alone strikes, having to mine underground, and governmental restrictions.” (See: https://www.mining.com/web/copper-the-most-critical-metal/)

Meanwhile, copper prices hit a fresh 2020 pinnacle of $3.52 per pound on the Comex in New York on November 24, 2020.” However, March 26, 2021 copper reached $4.0795 per pound. That’s almost 16% higher in so many months, and it will go higher.

Remember they estimated that it would cost the USA about $100 Trillion for the “New Green Swindle”? Obviously, that estimate will grow quickly because copper is not the only metal or Rare Earth that will soon be in short supply!

According to BloombergNEF: “There are currently about 7 million electric vehicles in the world today. By 2040, they estimate around 30% of the world’s passenger cars will be electric. To me that’s a conservative and reasonable number. It means 500 million EVs will be on the road in 20 years, out of a total vehicle fleet of 1.6 billion. If each EV contains 85 kg of copper, that is 42,500,000,000 kg, or 42,500,000 tonnes of copper, roughly twice the current volume of copper produced by all of the world’s copper mines.”

The bad news is, per Mining.com, that “Over 200 copper mines are expected to run out of ore before 2035, with not enough new mines in the pipeline to take their place. It’s going to be hard enough to keep up the current 20mt per year let alone add so much more production.”

Of course, we all know too well that “Our Environmentalists” detest mining in the USA. Yet, it seems to be a growing problem in the rest of the world. In order to get their “New Green Swindle”, the “Leaders” will need to push the environmentalists to the sidelines! Unfortunately, I don’t see that happening, so the “Green Agenda” is doomed to fail miserably!

Obviously, with copper prices escalating, I am going out to buy the copper pipe and fittings I will need to build my future planned solar water heater system. My water comes from a well, and it is darn cold. I’m guessing it is in the low 40’s F degrees. Unfortunately, my Nevada property is all electric, and it takes a bunch of electricity to heat that cold water so I can take a shower. I calculate that the system will pay for itself in less than ten years. However, if I wait a year or two to buy the needed copper, then I will most likely pay 3 times today’s price.

BTW: Solar water heating is more efficient than solar electric!


17 thoughts on “Save your pennies!”

    • Debasing the currency under the coinage act of 1792 calls for the death penalty. There were rules for copper or bronze pennies as well as for silver or gold coins in the act.

  1. Unfortunately, modern pennies are made of zinc with just a copper coating, not solid copper. Saving pennies won’t help much.

    Aluminum also is a conductor. The main reason it’s not used in houses is because it’s a lot harder to install safely. But in factory settings with the proper equipment, it could be used instead of copper. It’s already used in the high voltage cables that carry electricity over long distances. It’s also lighter than copper. I can see aluminum being used instead of copper for EVs.

    • Unfortunately, it is a problem of resistance. Aluminum has almost double the resistance of copper. Higher resistance reduces the current flow, and it is current flow that creates the magnetic field. Simply, lower magnetic field equals lower power output!
      The best electrical conductor is silver. But it costs $25 or more per ounce while copper costs a bit more than $4 a pound at this time. It is a cost benefit situation which is why copper is used. Yes! we all hope they find a “Super Conductor”, but until that happens we will need much more copper even if we have to de-plate the copper off these “New” pennies! I used to de-plate gold off old electronics, so I could gold plate other items. It can be done!

  2. “BTW: Solar water heating is more efficient than solar electric!”

    Except when you have 2 weeks of continuous overcast rainy weather as we currently have.

    The air temperature hasn’t dropped below ~20°C but the solar water heater isn’t heating much due to little sun – I guess that greenhouse effect doesn’t heat water for a shower.

    • True Rosco. A perfect example of why I call solar unreliable!
      Unfortunately, the northern states have a difficult time with solar water as well as solar electric.

      In my case, I have property in Southern Nevada where it gets plenty hot in the summer time, yet can get nasty cold in the winter. Obviously, the solar water will not be operating during the winter or any day that is below freezing days or nights.

      However, my solar electric is in the best location for number of hours of sunlight. If the panels are stationary at the proper angle, I will get an average of 5.5 hours times the wattage of all the panels. Unfortunately, the farther north one lives, the less average hours one will have. For instance: A 10.9KW system in my location will average about 1,782 KWH (Kilowatt hours) of electricity, while the same system in New York will only generate an average of 648KWH. That’s almost one third the KWH! It will take 3 times longer to pay for the construction of the solar system; making it a poor investment!

  3. I purchased some small positions in metal mining stocks late last year, especially copper, for this reason. They are doing pretty well. Also grabbed a position in uranium mining stock.

  4. Thanks again, Robert.
    I can bet the Democrats will push the “New Green Swindle” through Congress, so think about this: If “We” are paying for solar, wind, and related infrastructure, then the electricity should be “Free”! Thant’s right! Free, free, free, for we paid for it! “We” should not let them “Give” our money to those corporations so they can charge all of us more money for electricity!
    Spread the word about “Free electricity”, for this should catch on.

  5. theres a fairly hefty amt of copper in Aus around Roxyby downs where they also find uranium
    was talk of a new field opening but not sure if they went ahead
    if they didnt? they soon Will!!
    other areas of S Aus also used to be mined ie Burra and coastal regions “copper triangle”

  6. In 2020, the toll to make, administer and distribute the 1-cent coin retreated to 1.76 cents from 1.99 cents while the cost for the 5-cent coin eased to 7.42 cents from 7.62 cents.

    • Yes, it costs money to make change. They would like all of us to use “Digital Money” or credit cards! Of course, one of these days a hacker will delete all our bank info and we all will be broke!
      My suggestion: Stash some cash!

  7. When the government debt and real estate collapse occurs you all might be grateful to have pennies to spend…..
    Cryptos will be craptos.

  8. Good thing that copper is not absolutely needed for pistol and rifle ammo. The bullet jacket material can be made from other things. But copper is a needed for brass for the cartridge casings. There is ammo made with steel cartridge cases but not all guns like it, it causes jams in some weapons. But for sure the most important use for copper is for ammunition and secondarily for electronics. Sure hate to see a big shortage!

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