Oil & Gas needs Bitcoin more than ever
"We’ve crafted these technology standards to advance American innovation and account for the industry’s leadership in accelerating methane technology. Thanks to robust public feedback and engagement with states, Tribes, companies, and organizations, we are finalizing this historic action to reduce climate pollution, protecting people and the planet."
— Michael S. Regan, EPA Administrator
Today, the EPA announced new regulations to slash methane emissions by the oil & gas industry.
The press release is a combination of political speech, fantasy land accounting and wishful thinking.
Big oil is welcoming the regulation. They know that's what they need to say to avoid getting in trouble and they do have the dollars to manage the impact. Small oil is more worried because the new regulation will bring significant costs to them.
I hope the oil & gas industry channels their inner Jocko, say the word GOOD, and take this opportunity to embrace Bitcoin mining.
The oil & gas industry can transfer the new methane regulation from an operational cost into a new revenue stream by deploying Bitcoin miners to capture and process the excess methane.
To change a behavior, change the incentives
It sounds obvious but for some reason, most people don't follow this basic principle of human behavior.
The oil & gas industry leaks a lot of methane to the air. And they do it because it is not cost efficient for them to capture and process this methane.
The government approach to solving the problem is to issue a regulation that forces the industry to capture this methane at a loss.
Bitcoin represents an opportunity for the oil & gas industry to turn this regulation on its heels and make a profit out of capturing and processing the methane that today they are leaking.
They can deploy Bitcoin miners at these locations, powered by the captured methane, and make a profit along the way. Talk about a win-win-win.
If we had an intelligent and unbiased administration, they would encourage the industry to do just so. But we don't.
We have an administration that depends on the ponzi scheme called the dollar to sustain themselves, to continue to promise things that we can't afford, and keep piling up on the national debt.
And so they will never recommend Bitcoin, even if it's the right thing to do.
Just like the Canadian government sees Bitcoin as a threat to its authoritarian mandates, the US government sees Bitcoin as a threat to their ponzi scheme that keeps them in power.
Bitcoin miners is the solution
Daniel Batten is an environmentallist and a Bitcoiner who has done extensive research on this field as part of his work as a climate change venture capitalist.
You can find some of his research on Bitcoin mining and captured methane on this article:
Notable notes
Recommendations
Daniel Batten
Daniel is an environmentalist and a Bitcoiner who runs a climate change venture fund and perfectly understands the incentives that drive human behavior.
He has done extensive research on the energy usage of the Bitcoin network and the opportunity to use Bitcoin to reduce carbon emissions.
You can follow him here.
What did you think of today's newsletter?
Your feedback helps me create the best newsletter possible for you.
Please leave a comment and checkout comments from other subscribers and readers. I love hearing from the Bitcoin For Families community ❤️ 🙏🏻
See you again next week!
— Alejandro
This newsletter is for educational purposes. It does not represent financial advice. Do your own research before buying Bitcoin.