Brian Gitt: Energy Shortages will be Catastrophic

Tom welcomes Brian Gitt to the show. Brian has a varied background as an Energy Entrepreneur, Investor, Podcaster, and Writer. Brian discusses the mistakes he made early in trying to build a business. This caused him to study how to think clearly and question one's beliefs. Many people believe that fossil fuels are running out, but they overlook the innovation and technology that drives the industry. We're constantly bombarded by the media that we are running out of these resources. We don't have scarcity, it's more about price and technology to obtain these resources. This narrative of energy scarcity has been part of the drive towards wind and solar. The energy return on energy invested with these are incredibly poor. However, alternatives like nuclear are far better. When people are given the flexibility to innovate, they can come up with some remarkable ideas. Commodities move in boom, bust cycles. As an investor, you need to know where you are at in the cycle. The biggest hurdle today for Nuclear is government over regulation. We need safety, but we've gone too far and made things incredibly hard to build. The nuclear regulatory agency has not licensed any new power plants since their founding. How can you improve safety if you don't work with new designs? He believes we've largely solved the problems of nuclear waste storage and transportation. Newer reactor designs are reusing these waste fuel products and thus reducing their radioactivity. Solar and wind power can't replace large scale power plants because they are intermittent sources. We have yet to solve the storage problems for energy. He contrasts the amount of land needed for nuclear with that of wind and solar. There is a convergence of factors impacting carbon output in Europe and globally. We are continuing to rely on coal. The recent events in Europe have already wiped out all the gains from wind and solar. America doesn't have an energy plan, we just have corporate welfare and special interests feeding at the trough of special interests. Talking Points From This Episode * The importance of questioning ones beliefs.* Why the energy scarcity narrative is flawed.* The importance of nuclear energy and why it's safe.* Why solar and wind can only supplement existing grid solutions. Time Stamp References:0:00 - Introduction4:13 - Fossil Fuels7:07 - Incentivizing Production10:00 - Shale Oil & Credit11:30 - Nuclear Hurdles18:08 - Waste Remediation22:18 - Nuclear Innovation27:32 - Energy Densities32:44 - Land Use & Environment40:53 - Waste Production44:32 - First Principals47:57 - Electric Vehicle Concerns52:00 - Global Carbon Levels56:37 - Marketing Terms57:50 - Fracking Thoughts1:00:14 - Optimal Countries?1:07:13 - Wrap Up Guest Links:Website: https://briangitt.com/Books: https://briangitt.com/books/Twitter: https://twitter.com/BrianGitt Brian Gitt is an Energy Entrepreneur, Investor, Podcaster, and Writer. He led business development at Reach Labs to deliver long-range wireless power in industrial, asset management, and supply chain applications. He also founded UtilityScore a software company which provided homebuyers with estimates for their utility costs. Their product brought a new level of transparency to the process of buying, renting, and renovating housing. He was the CEO of a consulting firm later acquired by Frontier Energy specializing in clean energy to commercial...