Shares in giant German materials engineering conglomerate Thyssenkrupp fell 5% Monday after the company’s management warned it may have to cancel a heavily-subsidized project to produce…wait for it…green steel!
Of course, no sane person is the least bit surprised. This is the inevitable consequence of one group of morons (supposedly educated experienced businessmen) follow the dangling carrot of another group of morons (politicians) who follow ignorant know nothings (climate fascists) exemplified by an ignorant, brain washed, unstable child turned raging shrew (Greta Thunberg).
I bet you could write about absurdities like this every day. Oh, wait, you do!
These idiots are truly the gift that keeps on giving. If I had the time, I’d write a substack column called “From the Category of Who Didn’t See that Coming.” But I suspect there’d be a lot of overlap.
Great point. Yes, hydrogen does not come cheaply. It takes more energy to produce H2 than what we can get out of it. It has some niche applications, but no way is it suitable as a general fuel. It's main use is for the production of fertilizer, and in that case is worth the expense.
Don't worry; Germany needs to lose more sanity. Pain level is not enough, yet, I suppose. This is what happens when people only pay attention to their own little world without a care for the bigger picture. Like winter coming and almost no change in direction has been made re energy security.
This statement was an eye-opener for me: "the company has already benefitted from more than 2 billion euros in German government subsidies, much of which it would have to repay if it were to cancel its dreamy green initiative."
If companies have to repay subsidies, that would explain something that was puzzling me - why they continue on a losing course. Yet here we have an example of a company that is even considering taking a 500 million EUROs hit rather than keeping up the green-washing charade.
Yep, dream on people. This hydrogen crap will never work. Why, because it doesn’t exist in large quantities naturally and would cost a fortune to make. But we already have the perfect alternative. It’s called natural gas, which we have in incredible amounts all over the planet. It’s called natural because it is naturally produced in huge quantities every day for 100’s of millions of years!
You can call steel whatever color you want but there’s a reason to use coal and natural gas - they work, are efficient, and are economic. Just because some leftwingnut libtartd said we should go for a theoretical gain for the environment is not the reason to give up on decades upon decades of an industrial process. But when a company does it for a short term infusion of capital they just may be trying to cover up a basic cash flow problem. All the free government cash does is creates more abject failures and bankruptcies. TKE may just become another solyndra. But the executive management is to blame for doing the free government money give away game and losing. That’s right, they are losers. Give them the boot and a blackball in industry.
Of course, no sane person is the least bit surprised. This is the inevitable consequence of one group of morons (supposedly educated experienced businessmen) follow the dangling carrot of another group of morons (politicians) who follow ignorant know nothings (climate fascists) exemplified by an ignorant, brain washed, unstable child turned raging shrew (Greta Thunberg).
I bet you could write about absurdities like this every day. Oh, wait, you do!
It is the most target-rich environment imaginable.
These idiots are truly the gift that keeps on giving. If I had the time, I’d write a substack column called “From the Category of Who Didn’t See that Coming.” But I suspect there’d be a lot of overlap.
What does “direct reduction” mean?
Thank you!
Here's an article about it from the journal Science: https://www.sciencedirect.com/science/article/abs/pii/S095965262103972X
Where does the hydrogen come from? Hydrocarbons, right?
Lame disaster ad infinitum
Great point. Yes, hydrogen does not come cheaply. It takes more energy to produce H2 than what we can get out of it. It has some niche applications, but no way is it suitable as a general fuel. It's main use is for the production of fertilizer, and in that case is worth the expense.
Don't worry; Germany needs to lose more sanity. Pain level is not enough, yet, I suppose. This is what happens when people only pay attention to their own little world without a care for the bigger picture. Like winter coming and almost no change in direction has been made re energy security.
Dieter's Trauma Continues 🇩🇪
This statement was an eye-opener for me: "the company has already benefitted from more than 2 billion euros in German government subsidies, much of which it would have to repay if it were to cancel its dreamy green initiative."
If companies have to repay subsidies, that would explain something that was puzzling me - why they continue on a losing course. Yet here we have an example of a company that is even considering taking a 500 million EUROs hit rather than keeping up the green-washing charade.
Yep, dream on people. This hydrogen crap will never work. Why, because it doesn’t exist in large quantities naturally and would cost a fortune to make. But we already have the perfect alternative. It’s called natural gas, which we have in incredible amounts all over the planet. It’s called natural because it is naturally produced in huge quantities every day for 100’s of millions of years!
You can call steel whatever color you want but there’s a reason to use coal and natural gas - they work, are efficient, and are economic. Just because some leftwingnut libtartd said we should go for a theoretical gain for the environment is not the reason to give up on decades upon decades of an industrial process. But when a company does it for a short term infusion of capital they just may be trying to cover up a basic cash flow problem. All the free government cash does is creates more abject failures and bankruptcies. TKE may just become another solyndra. But the executive management is to blame for doing the free government money give away game and losing. That’s right, they are losers. Give them the boot and a blackball in industry.
Stupid is as stupid does.
I’m doing my part on Nov 5.