The world is in desperate need of alternative energy, and Australia
just rode the wave, quite literally, into a new energy paradigm.
Using the Perth Wave Energy Project's
CETO 5 wave energy generators
developed by
Carnegie Wave Energy Limited, the
movement of the ocean is creating renewable, sustainable energy -
which can even be used to make potable water through desalinization.
For now, the CETO 5 wave generator is
being used to provide energy to a nearby naval base, but future
installments of the electricity-generating technology are in
planning stages.
3 CETO units channeling energy from the
ocean are plugged into a power grid for 14000 cumulative hours of
energy.
The below video explains how the CETO 5
works.
240kW buoys tethered to water pumps
covert the movement of the ocean waves into high-powered water which
is then used to create hydroelectricity to power a reverse-osmosis
desalination plant.
Carnegie Wave Energy claims the
technology doesn't harm ocean life, causes no pollution, and can be
placed at different depths of the ocean, so as not to be affected by
storms.
Ian Macfarlane, Federal Energy
Minister of Australia
says:
"Wave-powered generation could hold
the key to viability of renewable energy because it was
predictable and could run all day. This is one of the great
success stories in innovation in renewable energy."
Australia is one of many places on the
planet that can harness wave energy effectively to provide electric
energy to its citizens, but there are many more locations around the
planet that could benefit from similar technology.
JPMorgan Chase is one of the five major
financial institutions of the US, but many Americans are not aware
of their history of crime. The company has employees all over the
world, with assets of over $2.5 trillion.
Just a cursory view of the last several
years of JPMorgan Chase's annual reports reveals numerous illegal
activities.
Here are a few:
In 2011, the company agreed to
pay a $35 million settlement fee to military families that
claimed they were overcharged on their mortgages, a
violation of the Service Members Civil Relief Act and
Housing and Economic Recovery Act of 2008.
In 2012, JP Morgan Chase paid
the US government $659 million to settle charges that it
charged veterans hidden fees in mortgage contracts.
Also in 2012, the company paid a
$1.2 billion settlement for conspiring to set the price of
credit and debit card interchange fees.
In 2013, the company paid $80
million in fines and $309 million in refunds to customers
who were billed for credit monitoring charges that the bank
never provided.
Again in 2013, they paid $4.5
billion as part of a settlement for defrauding investors in
mortgage-backed securities.
$79.9 million was paid in
settlement fees for the illegal rigging of benchmark
interest rates.
$110 million was paid for
overcharging customers for overdraft fees.
JPMorgan Chase paid over
$410 million of an originally proposed $1 billion to the
Federal Energy Regulatory Commission to settle a claim of
bidding manipulation of California and Midwest electricity
markets, otherwise known as energy fixing.
Millions more were paid by
JPMorgan Chase for insurance fraud, facilitating Bernie
Madoff's embezzlement of $64.8 billion from tens of
thousands of unsuspecting investors, and more.
There will soon be no need to burn
fossil fuels, once technologies like these, and those created by
genius minds like
Nikola Tesla, are available for
the common man and woman.
