Lesson 2 Flashcards

1
Q

What is the goal of dealing with climate change?

A

Reduce carbon emissions while improving the lives of people.

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2
Q

How do you do this?

A

Reduce the cost of clean technologies.

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3
Q

Why is this important?

A

Economics will be the primary driver for most people, not climate change.

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4
Q

How will we do this?

A

Deploying the current clean technologies and develop new ones.

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5
Q

What are the 5 main sources of greenhouse gases?

A

Manufacturing (31%)
Electricity (27%)
Agriculture (19%)
Transportation (16%)
Heating and AC (7%)

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6
Q

What are 2 products that have large emissions of CO2 when manufactured?

A

Steel,
Cement

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7
Q

What are the 2 greenhouse gases created by agriculture?

A

Methane and Nitrous Oxide

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8
Q

How are these issues linked?

A

If we can improve the way we make electricity, it may change the way we manufacture.

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9
Q

Historically, how long has it taken to move from one energy source to another (coal → gas)?

A

50 years

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10
Q

What is a Green Premium?

A

The higher price early adopters must pay for the new technology.

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11
Q

What is expected to emerge in the next few decades?

A

Middle income countries.

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12
Q

What is important about middle-income economies?

A

New technologies must be affordable for them.

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13
Q

What is Breakthrough Energy?

A

https://breakthroughenergy.org/
Founded by Bill Gates and 27 other rich investors.
Solve the 5 big challenges.

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14
Q

Who is the Chairman and CEO?

A

Abigail P Johnson

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15
Q

What is Abigail Johnson’s background?

A

G’daughter of the founder of Fidelity
Billionaire: she owns 24.8% of Fidelity. Her family owns another 25%.

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16
Q

Who is Aditya Mitall, the CEO?

A

CEO of ArcelonMittal (Steel producer)
* from India

17
Q

Who is Andrew Forrest, Chairman?

A

** Australian
former CEO Fortescue Metals
owns cattle statioins
pledged wealth to charities**

18
Q

Who are Ben & Lucy Walton, co-founders?

A

Ben heir to Walmart (grandson)
not conservative like the others
ZOMALAB philanthropy
Lucy → psychologist

19
Q

Who are Beth and Seth Klarman, trustees?

A

** Seth → value investor (Benjami Graham)
invested almost exclusively to Dems since 2016**

20
Q

Who is (Sir) Chris Hohn, founder?

A

Value-based investor
Children’s Investment Fund

21
Q

Who is Chris Stolte, co-founder?

A

** Co-founder Tableau (analytics) Software - his source of wealth**

22
Q

Who are the other investor/board members?

A

https://breakthroughenergy.org/our-work/breakthrough-energy-ventures/bev-board-and-investors/

23
Q

What is Breakthrough Energy Catalyst?

A

Invests in:
* Clean Hydrogen
* Direct Air Capture
* Long Duration Energy Storage
* Sustainable Aviation Fuels

24
Q

What is offtake?

A

To be willing to buy these products at higher than fossil fuel prices.

25
Q

What criteria are used for investment?

A

The technology must be proven.
There must be a good probability of a market for the technology.
It must have a significant Valley of Death

26
Q

What is the first of Bill Gates’ 5 questions about a BE investment?

A

How much carbon can you remove from the 51 billion tons?

27
Q

What is Question #2?

A

What is your plan for cement?
Making steel and cement accounts for 10% of all emmissions.

28
Q

What is Question #3?

A

How much power are we talking about (electricity)?

29
Q

How is electricity measured?

A

**kilowatt = 1,000 watts
magawatt = 1 million watts
gigawatt = 1 billion*

30
Q

How much electricity does the average home use?
All of NYC?
The US?
The world?

A

< 30 kw-hours /day;
11 gigawatts/day;
1,000 GWH/day
5,000 GWH/day

31
Q

What is Question #4?

A

How much space do you need?
This is a measure of efficiency.
Solar panels and wind farms require much more land than nuclear.

32
Q

What is Question #5?

A

How much is this going to cost?
How quickly can Green Premiums be reduced?