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One of my files at the Ministry of Energy was energy poverty. I saw some very sad letters to the Minister from people having trouble paying electricity bills. There was a large push in the 80s to switch low income housing to electric baseboard heating. Electricity rates had been going up due to catch up investments in transmission, distribution & generation assets + low carbon push, and affordability was a challenge, particularly for low income / vulnerable consumers. Imo a tech that can help subsidize heating is a big win

VOLKER - Voice Of Logic Knowledge Experience & Responsibility 2y ago

Yes, anything that makes energy more affordable is a win. Mining is somewhat special as it's one if the most competitive industries worldwide, and the idea that low income people can benefit under such extreme conditions is at least courageous. Even if electricity was free, the economics of ASIC prices and diff adjustments is too complicated for most to create positions yield. That yield would effectively be the subsidy to electricity. Since that yield is likely negative, so is the subsidy ¯\_(ツ)_/¯

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Discussion

Mags 2y ago

Policy is challenging as there are so many intersecting issues. If gov should be tech agnostic, but many aren't in the case of mining. They're picking winners and lovers but have a bad record of it. Need to look at bigger picture, especially if a tech can assist with multiple policy mandates (eg low carbon and energy poverty)

VOLKER - Voice Of Logic Knowledge Experience & Responsibility 2y ago

My idea of good policy is "as little policy as possible". Makes life hard for some, for a while, but that sorts itself out over time. Assuming the state's responsibility is "to enable the wellbeing of everyone" like we do in the EU, is bound to fail.

Need to hit the bed now, good night.