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Jul 31 17 tweets 7 min read Read on X
🧵
It might look like something from space, but some folks think lumps of rock like this could help us solve one of the biggest problems facing the planet.
Others fear they could trigger ecological catastrophe.
Presenting the weird, unsettling story of polymetallic nodules Image
These potato-sized mineral lumps form over millions of yrs on the ocean floor as metals accrete around organic fragments.
Up until 150 years ago no-one knew polymetallic nodules even existed. Today they're a very big deal.
So. Here are the 2 main things you need to know abt them Image
1. These nodules contain ASTOUNDING concentrations of certain metals - esp nickel, manganese, cobalt and copper. The grades of metals are multiples better than anything you can find on land (esp now we've mined out most of the easy stuff). Image
And
2. You find these polymetallic nodules in vast quantities on some parts of the seabed. Most notably the Clarion Clipperton zone in the Pacific.
Look at this map. As far as anyone can tell, you will find loads of these nodules in the red parts.
So, quite a lot of them. Image
Worth saying: these nodules aren't the only type of mineral you can find under the sea.
In Material World I also wrote abt seafloor massive sulphides: essentially extinct black smokers which used to puff volcanic fumes from the seabed. There's LOTS of copper embedded in them too Image
Anyway it so happens these are PRECISELY the metals we need LOADS of if we're going to make enough electric cars to eliminate our carbon emissions. Which brings us to a knotty problem.
We've mined the easy stuff.
Today mining copper means blasting ever bigger holes in the ground Image
Little appetite for that so there's a looming shortfall - a gap between plans for new mines and the likely demand we'll need for the copper in our wind turbines/electric cars/solar panels.
This could well be filled from terrestrial mining - but there's lots of resistance. Image
Or consider cobalt.
Most of the world's supply comes from the Democratic Rep of Congo.
Conditions in many of the mines there are abject. For more, read Cobalt Red by Siddarth Kara.
And NB you need LOTS of cobalt for smartphone cells and high performance EV batteries. Image
Then there's nickel...
Needed in vast quantities for long-range EV batteries.
Most comes from Indonesia.
There are MASSIVE environmental question marks about its exploitation: rainforest being torn down, toxic waste dumped into the sea.
The mucky reality of critical metals👇 Image
Anyway, given this, a lot of people are saying: hold on, instead of destroying pristine ecosystems on land, could we just get minerals from the sea instead?
Consider cobalt. USGS says there's many multiples of terrestrial resources. We'd never have to rely on DRC cobalt again! Image
And some argue it's less damaging than terrestrial mining.
"You just hoover those potatoes up. You don't even need to drill," they say. Some mining companies have funded research saying the damage - tailings, disruption etc - would be less than on land onlinelibrary.wiley.com/doi/10.1111/ji…
Problem is: there's SO much we know we don't know about the impact.
Up until recently no one thought those potatoes played much role in ecosystems.
But we now know they're a crucial part of some fish habitats.
They might even produce oxygen! 👀 nature.com/articles/s4156…
But right now all that might prove moot.
Countries around the world are lining up to try to mine the deep sea.
And while the commercial case has yet to be proved (and folks have been predicting this would be the "next big thing" for decades) the mining tech is finally ready...

Image
Image
Image
As I write, nations are meeting at the International Seabed Authority in Jamaica to negotiate the rules over high seas mining.
You might not have heard of the ISA but it has power to decide who gets to mine over 50% of the seabed, as the boss once told me
Chief among those trying to mine the seabed is China.
It already dominates refining of pretty much every critical material (look at the red bits in the right section of the chart). But not the ores (left section).
Deep sea mining provides a chance to control the WHOLE chain. Image
Sidenote: the US never signed up to the UN treaty so doesn't get a vote at the ISA.
However it is also keeping an eye on deep sea mining. & it has access to loads of polymetallic nodules via the pacific islands it once took in its quest for guano en.m.wikipedia.org/wiki/Guano_Isl…
So... deep sea mining is fast becoming a new front, not just about economics or green tech but abt big power diplomacy.
Then again you could say the same thing about much of what I call the Material World. The underbelly of the modern world.
UK edition out in paperback TOMORROW! Image

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More from @EdConwaySky

Jul 20
🧵
80 years ago today, newspapers in Europe carried news of the unexpected death of a very important man, in a hotel miles from the nearest city.
A man who, said some, was helping the Allies win the war.
But there was a twist to the tale. The man in question wasn't actually dead Image
That man was John Maynard Keynes. The 61 year old economist was at the Mount Washington Hotel in New Hampshire for what became known as the Bretton Woods conference. And the day earlier he had indeed collapsed, following a heart attack. It was a moment of high drama. Image
The conference had already overrun.
It was supposed to be done in two weeks and there was talk that the delegates would soon be kicked out of the hotel. This was, to put it lightly, a problem.
After all, in the absence of an agreement there was a chance of yet another world war Image
Read 29 tweets
Jul 10
It says something about how confusing Labour's green investment policies are that seemingly even the Treasury has misunderstood them.
Contrary to what the picture in this press release👇 suggests, the National Wealth Fund has nothing to do with wind power or indeed green energy
Instead it's very specifically designed to focus on all the low or zero carbon technologies that AREN'T really to do with generating power.
- Green steel
- Hydrogen
- Clusters
- Gigafactories
Here's the sectors the institution will focus on 👇 Image
Simple way to think abt this:
Pretty much ALL heavy industry today emits carbon, directly or indirectly. The techniques we use to make stuff mostly date back to the industrial revolution. Getting to net zero involves redoing the industrial revolution! edconway.substack.com/p/yet-another-…
Read 7 tweets
Jul 5
🧵
How did Keir Starmer manage to win a landslide majority even though fewer people voted for him than for Jeremy Corbyn in either of his election bids?
A quick thread looking beneath the numbers.
Let’s start with swing…
Election nerds like to focus on two-party swing - essentially showing how voters shifted between the main parties.
And on this metric, Labour enjoyed a MASSIVE swing. 11%. Slightly more than Blair in 1997.
But there’s more to this chart than meets the eye… Image
Let’s take the same data, two-party swing, & break it down. Red bits of bars show change in Labour vote, blue bits show Tory change.
Now look again at that 2024 bar (on the far right).
The vast, vast majority of swing to Labour is in fact swing AWAY from the Conservatives. Image
Read 10 tweets
Jul 2
🧵THE STRANGE CASE OF THE YAKOV GAKKEL🧵
A thread about the energy story no-one wants to talk about.
About how UK companies are helping facilitate Russia, as it earns money to finance its war.
And about how the cost of living crisis didn't end quite how you prob thought it did…
But before all of that it's a story of a ship. A v unusual ship.
The Yakov Gakkel. A vessel that routinely passes these shores. As I type this it's somewhere north of Norway. But I first saw it in the English Channel.
And at first glance you might not think it all that special.. Image
But beneath that enormous blue hull is some incredibly advanced technology. Because the Yakov Gakkel is a cutting edge liquefied natural gas tanker, capable of holding vast amounts of natural gas at temperatures of approximately −163 °C.
These things are pretty incredible! Image
Read 21 tweets
Jul 1
🧵You know the idea, posited by @theIFS, that the main parties are engaged in a "conspiracy of silence" this election.
Their original point was about spending plans.
But I think you cld go much further.
I can think of at least 5 other areas where there's a conspiracy of silence
1⃣Taxes ARE going up under all the main parties' plans.
But they prefer not to talk about this, hiding instead behind the claim that tax rates on income tax, NICs and VAT won't rise. But they've still signed up to plans which will mean the AMOUNT of taxes we're paying will rise. Image
2⃣The magical tax avoidance money tree.
All the parties think they'll raise enormous sums clamping down on tax avoidance.
So much that they need not raise other taxes. This is v uncertain. But since they've all done the same trick they remain silent about its ridiculousness
Read 7 tweets
Jun 23
🧵
You've probably heard this claim - both from @rishisunak and more recently from @Nigel_Farage 👇
UK has leapfrogged others to become the world's fourth biggest exporter! And all after Brexit!
Unfortunately the reality is somewhat less impressive than this sounds.
Here's why: Image
First thing to say is that the bare bones of the claim are certainly true.
Between 2021 and 2022 the UK did indeed rise from 7th in the league table of the world's biggest exporters (counting both goods and services) to 4th.
We'll get to why this happened in a moment. But still Image
However here's some (very) important context.
It's not like the UK has only JUST hit fourth spot. In fact, it was in 4th place in 2020. And in 2015, 2014 and 2013.
Actually if you look at the modal average of our position in the past decade it was... fourth. Image
Read 12 tweets

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