Fears about the energy consumption of cryptocurrency mining have been temporarily quelled by a slide in the value of cryptocoins, including bitcoin itself. The world’s most popular cryptocurrency was trading […]
Few countries around the world lend themselves to cryptocurrency mining. Iceland has always been a key region in this regard. Although it was never designed to become a hub for […]
Proof of work (POW) is data that is costly and time-consuming to produce but easy for others to verify. The Bitcoin POW mechanism is so costly that it consumes the […]
The exploding price of the cryptocurrency, bitcoin, in recent months has triggered doubts not only about the financial sustainability of the rally, but also about the environmental sustainability of the currency itself.
One alarmist article in Newsweek said that bitcoin computer operations could consume "all of the world’s energy by 2020". The website Digiconomist claims that bitcoin operations use as much energy as Denmark, or enough to power 3,071,823 US households.
A reluctant Russia is expected to agree with OPEC and other producers to continue to curb global oil production, but the deal may have more caveats than initially expected by the market.
The somewhat rocky road to reaching an agreement by Thursday’s OPEC meeting has also exposed some cracks in the new world order of oil – where Saudi Arabia and Russia use their combined heft to influence prices and global supply. The cause of those "cracks" in the new ‘R-OPEC’ appears to be U.S. shale oil.
Russia is ready to discuss an extension of a global deal between OPEC and other countries to cut oil output in Vienna on November 30, TASS news agency quoted the Energy Minister Alexander Novak as saying on Friday. The Organization of the Petroleum Exporting Countries, Russia and several other major producers cut their combined output by about 1.8 million barrels per day since January to reduce bloated inventories and boost oil prices.
The use of oil in the road transportation sector will increase even as the sale of electric vehicles is expected to rise, according to the annual long-term outlook from OPEC. If a quarter of the world’s cars have batteries, global oil demand would reach a plateau of about 109 million barrels a day during the second half of the 2030s, the Organization of Petroleum Exporting Countries said in its annual World Oil Outlook.
Four Swiss universities came together to build the US Department of Energy’s 2017 Solar Decathlon overall winner. Eleven teams competed over the course of two years to build a home taking into account modern global demands of “reliability, resilience, and security.”
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