The Proposed AI Tax Will Cost All Of Us
Inside today’s Daily Journal…
Essay: Elizabeth Warren Wants To Tax The Future
IPOs infuse massive new shares into the market
The credit cycle is turning, says PIMCO
Coupang (CPNG) dodges a bullet
Chart Of The Day… Oracle (ORCL)
Reader poll… The $20,000 option
Today’s Mailbag
Editor’s Note: Today’s Journal essay was written by Shannon Stansberry. Shannon holds a Bachelor of Science in Civil Engineering from Dalhousie University in Halifax, Nova Scotia. She is currently working as an analyst for Complete Investor. Shannon and her husband Porter are expecting their first child, a girl, any day now.
Read Shannon’s first essay here: “The Most Dangerous Lie In Modern Economics”
The Bay of Fundy is a 168-mile inlet on the eastern coast of Canada.
It lies between New Brunswick and Nova Scotia. It has the highest tidal range on Earth – rising and falling up to 52 feet, twice every 24 hours. The energy contained in all that water moving in and out is staggering. Canadian government studies have estimated the theoretical extractable power of the Minas Passage alone at roughly 2,500 megawatts – enough, on paper, to electrify a small country.
When I first met Porter, I told him about an essay I had written in high school on the Bay of Fundy’s potential as an energy source. I won a scholarship for the essay… from the government.
Porter listened politely for about 10 minutes. Then he asked me one question:
“What about the Second Law of Thermodynamics?”
I still half-laugh at myself when I think about that moment – because the Second Law is the single most important principle in physics for understanding why most political schemes to transform our energy system fail. And it is why a recent proposal U.S. Senator Elizabeth Warren outlined will fail, too.
Let me explain.
