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Bitcoin Mining And The Environment | Earth Wise

November 7, 2022 By EarthWise Leave a Comment

Bitcoin mining, the process by which the prominent cryptocurrency is created, is well-known to be energy intensive, but the environmental impact of it has not been extensively studied. People have described Bitcoin as ‘digital gold.’ A new analysis by researchers at the University of New Mexico has found that Bitcoin mining shouldn’t be compared to gold mining. It is more appropriately compared to the creation of much more energy-intensive products such as beef, natural gas, and crude oil.

Furthermore, the study found that rather than becoming more sustainable over time, Bitcoin mining is becoming dirtier and more damaging to the climate as long as it relies upon fossil-fuel generated electricity. Estimates are that in 2020, Bitcoin mining used 75.4 terawatt hours of electricity, which is more electricity than the entire country of Austria, as well as 150 other nations around the world.

The study looked at the economic cost of the air pollution and carbon emissions associated with Bitcoin mining and found that in many instances, the negative economic impact of creating a single Bitcoin is more than what the resultant coin is worth.

Based on the market value of Bitcoins, the cost of climate damage for that value is a little less that that of electricity produced by natural gas and gasoline produced from crude oil, but actually more than that of beef production.

There are multiple cryptocurrencies. Ether is one that voluntarily switched away from so-called proof-of-work mining. Whether Bitcoin or others will act similarly absent potential regulation remains to be seen. Until such time, Bitcoin mining remains an increasingly dirty and damaging business.

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Technology: UNM researchers find Bitcoin mining is environmentally unsustainable

Photo, posted May 11, 2017, courtesy of Komers Real via Flickr.

Earth Wise is a production of WAMC Northeast Public Radio

California’s Silent Health Hazard | Earth Wise

April 23, 2021 By EarthWise Leave a Comment

For people in the Los Angeles area, it is a familiar sight to see oil wells pumping away on hillsides, in residential neighborhoods, and other places. In fancier parts of town, oil wells are hidden behind facades located next door to dry cleaners and lamp stores.

Every year, more than 140 million barrels of oil are extracted from the state of California, coming from a vast subterranean formation that spans nearly the entire state along the coast and spreading inland as well. About 30% of the state’s oil comes from the Los Angeles area.

The oilfields are mostly old, and their wells played out. As a result, high-tech drilling and a slew of toxic chemicals are needed to extract the last dregs of crude oil.

Unlike more rural oil-producing states, where oilfields might be uninhabited except for the people who work on them, drilling in California happens to a large degree in residential settings. Over the years, it has become increasingly clear that certain chemical byproducts of oil extraction, among them benzene and hydrogen sulfate, can cause a variety of health problems. For example, recent research has found connections between exposure to oil and gas well sites and spontaneous pre-term births, low-birthweight babies, and other adverse birth outcomes.

Statewide, little is being done to protect residents and schoolchildren from any of the suspected consequences of living near an oil or gas well. Regulations are weak and spottily enforced because the oil industry still wields a lot of political power in the state. Environmental groups and justice advocates are actively seeking to create new protections for California citizens, but it remains an uphill battle.

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The Oil Well Next Door: California’s Silent Health Hazard

Photo, posted July 11, 2017, courtesy of John Ciccarelli / Bureau of Land Management California via Flickr.

Earth Wise is a production of WAMC Northeast Public Radio.

The Menace Of Abandoned Oil Wells | Earth Wise

August 3, 2020 By EarthWise Leave a Comment

More than a century of oil and gas drilling has left behind millions of abandoned wells and many of them are leaching pollutants into the air and water. Drilling companies continue to abandon even more wells as demand for oil diminishes and bankruptcies become more common.

Leaks from abandoned wells have long been known to be an environmental problem and a health hazard. They have been linked to many instances of groundwater contamination and to dangerous fumes near homes and farms.

There have recently been efforts to track the amounts of methane leaching from abandoned oil and gas wells, and the figures in United States are alarming. According to the most recent EPA report, more than 3.2 million abandoned oil and gas wells emitted a total of 281,000 tons of methane in 2018. That is the climate-damage equivalent of consuming about 16 million barrels of crude oil, which is as much as the U.S. uses in a typical day. According to the EPA, the actual amount could be as much as three times higher, because of incomplete data. The agency believes that most of the methane comes from more than 2 million abandoned wells that were never properly plugged.

New York’s Department of Environmental Conservation has records of over 2,000 abandoned wells, but the state believes the actual number could be much higher. This is a problem that won’t just go away. Wells don’t leak for a year and then stop. They can continue to leak for a century or more. Cleaning up and plugging an abandoned well runs from $20,000 to $145,000, meaning that countrywide, cleaning up this environmental menace could cost somewhere between $60 billion and $435 billion.

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Special Report: Millions of abandoned oil wells are leaking methane, a climate menace

Photo, posted October 13, 2015, courtesy of Flickr.

Earth Wise is a production of WAMC Northeast Public Radio.