California Underestimated This Region for Years

Bright Side

What makes Norway both a land of untold riches and impossible prices? We uncover the paradox of Europe's wealthiest hidden gem, where nature’s beauty hides a costly reality - from sky-high fuel prices to a national currency that defies logic. Then, we dive deep into California’s Salton Sea, a toxic lake sitting on a lithium fortune that could power America’s future… or poison its present.   Animation is created by Bright Side.  ----------------------------------------------------------------------------------------  Music from TheSoul Sound: https://thesoul-sound.com/   Check our Bright Side podcast on Spotify and leave a positive review! https://open.spotify.com/show/0hUkPxD34jRLrMrJux4VxV  Subscribe to Bright Side: https://goo.gl/rQTJZz  ----------------------------------------------------------------------------------------  Our Social Media:  Facebook: https://www.facebook.com/brightplanet/  Instagram: https://www.instagram.com/brightside.official  TikTok: https://www.tiktok.com/@brightside.official?lang=en   Stock materials (photos, footages and other):  https://www.depositphotos.com  https://www.shutterstock.com  https://www.eastnews.ru  ----------------------------------------------------------------------------------------  For more videos and articles visit: http://www.brightside.me  ----------------------------------------------------------------------------------------  This video is made for entertainment purposes. We do not make any warranties about the completeness, safety and reliability. Any action you take upon the information in this video is strictly at your own risk, and we will not be liable for any damages or losses. It is the viewer's responsibility to use judgement, care and precaution if you plan to replicate.

Transcript

00:00you are looking at a remarkable idea for this is the story of the miracle

00:08this massive lake in California is worth 540 billion dollars as it holds enough

00:17lithium to power over 30 trillion iPhones that's way more than experts

00:22predicted making it one of the biggest lithium reserves ever this finding could

00:27revolutionize the US economy but a major challenge is still standing in the way

00:31if it's not solved all that money will stay buried forever first things first

00:38lithium this metal is so valuable that people call it white gold and it's

00:44unbelievably light in fact it's the lightest solid on earth at room

00:49temperature it was discovered by a Swedish chemist in 1817 and honestly since

00:56then we didn't really care much about lithium this poor metal was ignored for

01:00centuries because it didn't seem to have any practical use in everyday life I

01:05mean sure it's light it's white it's shiny but what could we actually do with it at

01:11some point though another trait of this metal started to stand out it's

01:15reactivity basically it bonds really easily with other elements but that also

01:21means something else it can catch fire in seconds for example if you expose it to

01:26air it goes through a wild oxidization reaction and before you know it boom

01:31flames everywhere this might sound like danger to you but to scientists it screamed

01:38Eureka because being super light and super reactive actually makes it the

01:43perfect material for batteries and you get why that's a big deal nowadays right

01:48batteries power almost everything around us like smartphones cars and even small airplanes

01:53since everyone suddenly wants lithium demand has skyrocketed and it's not slowing down

01:59anytime soon back in 2021 for example the world produced about 540,000 tons of it

02:06but by 2030 predictions say demand could soar past 3 million tons and here's the problem

02:13lithium is a finite resource there are only about a hundred lithium mines in the

02:19world mostly in Australia Chile and China sure supply is expected to grow but demand is climbing

02:26much faster that means we could be facing a shortage soon lithium mines can keep up with

02:32today's demand but they won't be able to do that for many more years so that's why finding new lithium

02:38reserves today is basically like winning the lottery in this case the United States is one of the lucky

02:44winners first there's the Thacker Pass mine this spot in Nevada might hold the largest untapped lithium

02:51reserves on the planet to put it in perspective some estimates say it could supply up to one quarter of

02:58the world's lithium demand we're talking as much as 40 million tons of this precious metal and that might be

03:04worth over 500 billion dollars right there they'll be extracting lithium from clay this might be

03:12challenging since this process has never been done on such a huge scale before but it's doable a couple

03:19of years ago the United States found another big win in the lithium game the Salton Sea this is a huge

03:25shallow lake located in Southern California's Imperial County at first they announced that this spot could hold

03:32over 3.4 million tons of lithium underground that would be enough to make more than 375 million batteries

03:39for electric vehicles that was already huge but then more recently specialists realized they had made a

03:47mistake actually a good mistake the amount of lithium there is likely much much higher it could hold 18

03:55million tons of it now the Salton Sea is being considered the fifth largest lithium deposit in the world

04:01this could be a real game changer the United States is betting big on this mineral hoping it'll help

04:08keep the country's economy strong for decades to come so finding this second big source of lithium was a

04:15huge relief it means America is one step closer to relying less on other countries and by the way most of its

04:23lithium lithium right now comes from Chile we refer to as the the Saudi Arabia of lithium of course California

04:30is thrilled about this seeing it as a potential economic windfall the region is already being called the

04:36Saudi Arabia of lithium or lithium Valley because of its potential to dominate the battery supply chain

04:43and if it works out it'll be a huge benefit for the state apparently authorities plan to use 80% of the

04:51money from lithium extraction for local development and infrastructure the idea is to upgrade roads

04:56schools and other public services that could create a lot of new jobs for Imperial County which is

05:03considered one of California's poorest regions big question if the lithium is hiding under the lake can

05:10they even get it out well yes at least in theory there are two main ways companies usually extract lithium

05:19the first is the old-school method open-pit mining where the rock is dug up crushed and process that's what

05:27they do at Thacker Pass for example they use massive hydraulic shovels to dig the metal out of the clay then

05:34there are evaporation ponds here they pump lithium-rich brine to the surface and let the water evaporate leaving

05:41the metal behind the problem with both methods is that they use tons of water and can cause a lot of

05:47contamination and waste at the Salton Sea in California things work a little differently instead

05:54of giant pits or evaporation ponds companies are using the area's natural geothermal power to pull

05:59it out in a cleaner way this method is called direct lithium extraction and here's how it works near the lake

06:08there are already 11 geothermal power plants that pump up super hot mineral rich brine from underground

06:14normally that brine is just used to make steam which spins turbines to generate electricity but

06:21now companies are figuring out how to pull the lithium out of that same brine before sending it

06:27back underground since they're already pumping the brine for energy collecting the lithium doesn't need

06:33any extra digging or big ponds so it avoids most of the water waste and pollution you get with old methods

06:40it's like getting clean energy and battery materials at the same time but with way less impact on the

06:46environment this method sounds brilliant and totally doable but it also comes with challenges that won't be easy to

06:54overcome sure people call it environmentally friendly but that's only when you compare it to other ways of getting

07:01lithium this method still raises concerns about water use people in California are already dealing with shortages and

07:08large-scale lithium extraction could put even more pressure on the region's limited water supply the

07:14Salton Sea itself is shrinking fast water levels have dropped by more than nine feet over the past 25 years that

07:22creates a huge problem less water means more exposed lake bed and the sediments there can contain harmful

07:29materials as the lake shrinks that exposed lake bed dries out and turns to dust and that dust doesn't just sit

07:37there the wind picks it up and blows it into the air now the Salton Sea's shrinking shoreline is releasing toxic dust

07:44into the air and that dust has been linked to increasing rates of respiratory problems among local residents

07:51authorities are already taking steps to reverse the situation by adding water to the dry parts of the Salton Sea they're

07:58filling shallow ponds near the lake to make new wetlands their goal is to create a safe habitat for fish and birds and to help keep that toxic

08:06dust under control some people worry that digging up all this white gold could make the Salton Sea shrink

08:13even faster and undo years of restoration work for now studies show geothermal plants only use about four

08:21percent of the region's water supply but researchers still don't know if expanding these operations could end up

08:27making the water problem worse so what happens next it's too soon to say but one thing's for sure

08:35we will need a lot more research to understand what this all means not just for the Salton Sea but for

08:41the future of the u.s economy now when you think of norway things that come to mind are the sun that

08:50never sets in the summer unbelievable nature the fact that it's one of the happiest countries in the

08:55world even white bears that freely roam in the wild i'm guessing they're happy too already planning your

09:01trip to this dream country well don't rush you'll have to review your budget fuel there is 10 to 15 percent

09:08more expensive than in other western european countries a meal at a cafe for one person will

09:13cost at least 30 bucks plus consider yourself lucky if you manage to find a hotel at a hundred dollars a

09:19night if you google the most expensive country in the world you'll see this list switzerland which is

09:26memishly expensive the united states duh been there know that luxembourg is not a surprise either and then

09:33all of a sudden you see norway just so you know a family of four would need over four grand a month

09:39just to exist in norway and it doesn't even include rent specialists say that norway is around seven

09:45percent more expensive than in the u.s norway is a bit weird though usually the richest countries have

09:51national currencies that are stronger than the u.s dollar take swiss francs for example or the kuwaiti

09:57dinar which is literally the boss when it comes to currencies like one kuwaiti dinar can snag you

10:033.25 u.s dollars now here's where the mismatch comes the norwegian krona is dubbed the weakest

10:10currency in the west well how come in the wild world of global currencies the norwegian krona used to

10:17be a tough player known for smart money moves but surprisingly it is now the weakest currency in the west

10:24taking a big hit in the last decade it has fallen hard against the u.s dollar and euro causing

10:30concern for central banks and money folks worldwide the oil price roller coaster is a major factor in

10:36the krona struggle as norway relies heavily on oil exports but even with oil prices relatively high

10:43it remains historically weak against major currencies the weak norwegian krona is affecting everyday folks

10:51too with prices rising on almost everything due to heavy imports inflation is growing leading to

10:57interest rate hikes by the nordisk bank high interest rates are hurting the housing market and making life

11:03more expensive for norwegian citizens so one of the supposed reasons for why norway is so expensive might

11:09be weak national currency what else is particular about norway well climate for sure it may be hard to

11:17imagine a freezingly cold country plunging into riches it's an imagery we usually see on social

11:22media with geo tags dubai saudi arabia or even kuwait and it makes sense to think now that all the

11:29riches are somewhere southward as these places have strong oil-based economies and super strong currencies

11:36but in reality better economies in the south are a current trend ever wonder why cold countries seem to

11:42be raking in the cash while the hot nations are just hanging out turns out those living in chilly

11:48climates had to hustle just to survive winter think building shelter stockpiling food and keeping that

11:54fire burning meanwhile those basking in the sunshine had it a little easier with hunting and foraging

12:01year-round this theory holds true even in the land down under sydney and melbourne the top dogs in

12:07australia's wealth game also happen to be some of the coldest cities while darwin the warmest city

12:13is lagging behind some might argue that this theory doesn't hold up when we look at ancient

12:18civilizations or modern hot spots like tropical singapore but hey times change and so does wealth

12:25generation back in the day it was all about farming but now it's more about industry and innovation so

12:32norway may seem to have been bound to get rich historically and geographically still it's not

12:38exactly so norway used to struggle a lot back in the day it faced some tough times with harsh winters

12:44and tricky geography they even had famines that pushed families to seek a better life in the u.s

12:51so how did norway go from rags to riches yep oil and gas played a big role the country is small but it

12:58has around 0.31 of all oil reserves in the world but in norway there's more to the story than just

13:05black gold for example the top oil reserve is not some arabic country but venezuela which claims up to

13:1220 percent of the world's liquid gold still venezuelan's economy is far from stable so it's not all about

13:19oil although bested in forest size by other european nations norway was an unrivaled powerhouse in lumber

13:28during the age of sale thanks to its strategic fjord path timber from its inland forests could

13:33quickly reach fjord side mills and global markets as railroads unlock larger forest potential in other

13:40countries post the 19th century norway was europe's timber king bolstered by a world-class merchant fleet

13:46by the 20th century the norwegian timber wealth coupled with early cooperative societal norms

13:54spurred growth across several sectors from agriculture to fishing and banking despite

13:59being labeled poor in the 19th century norway's gdp per capita outshone eastern and southern european

14:06nations the nation's ascendancy continues beyond the discovery of its oil reserves norway is unique

14:13with a small population but sprawling land despite its vastness the nordics are scattered and considered

14:19one of the most spacious countries globally much of the north's territory stretches beyond the arctic

14:24circle offering harsh landscapes with thin topsoil covering the bedrock the tough terrain in norway

14:31full of mountains and with a short growing season limits arable land to only 2.2 percent

14:37similar to yemen the scattered arable land in small valleys makes extensive farming impractical

14:43a far cry from the efficient farming in the u.s with a huge chunk of land and coastlines but a small

14:50population norway makes some serious cash from its reserves plus nature has been pretty kind in norway

14:57with rich fishing grounds hydropower from rivers and power from cold waters and only then comes the

15:04little thing called oil the late 50s saw a big discovery that changed everything for norway's economy

15:10fast forward to today and petroleum activities have been a major game changer for norway feeding its

15:16economic growth and funding its welfare state but norway didn't just sit back and watch the money flow

15:24in they made smart moves by creating a sovereign wealth fund to manage their oil wealth for the long

15:29haul the fund sees some big bucks currently standing at 1.7 billion norwegian crooner or over 160 million us

15:38dollars norway uses the interest from this fund to boost its annual budget ensuring top-notch health

15:44care education and welfare for its citizens and here's the kicker norway's not resting on its laurels

15:50they're investing in sustainable technologies like offshore wind power to secure a bright future beyond

15:56oil and gas now norway may be expensive but it can't compete with the world's costliest place to live

16:03monaco it's almost four times more expensive than the global average so if you're looking to rub

16:09elbows with the rich and famous look no further than monaco with property prices soaring to an average of

16:15over fifty thousand dollars per square meter in 2022 it's no wonder why this tiny country is a magnet for

16:22the la-di-da however there's a place that's particularly expensive for tourists and i'm not talking about

16:29tourist traps neither oslo nor monaco can beat the prices in well take a second to make your guess

16:36ready welcome to ashkabay turkmenistan's capital a gallon of milk costs a whopping 15 us dollars while

16:44a standard internet subscription plan will set you back 168 us dollars a month calm down you're not poor

16:51it's just an economic glitch the reason for these prices is simple the turkmen national currency exchange

16:57rate in relation to dollars is fixed and never changes one dollar equals three point five minutes

17:04and has been so since 2015 local prices in the local currency grew to inflation making it not

17:11proportionate to prices in dollars the exchange rate never changes so if you live there such prices

17:17don't seem to be extraordinary but if you come with dollars you're in for a pricey trip that's it for

17:23today so hey if you pacified your curiosity then give the video a like and share it with your friends

17:29or if you want more just click on these videos and stay on the bright side

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