29/10/2024
Decided to test chatGPT on energy consumption on corrupt practices. I think it is far worse as many times we create things that encourage corruption or discourage social harmony: Estimating the precise amount of energy lost to corruption globally is challenging, but its economic cost provides some insight. Corruption, including bribery, misallocation of public funds, and inefficient state-owned enterprises, is estimated to cost around 5% of global GDP annually—roughly $2.6 trillion. A significant portion of this loss directly affects sectors like energy, where state-owned enterprises often suffer from mismanagement and inflated procurement costs
IMF
WORLD BANK BLOGS
In sectors like energy production, especially in countries with high corruption, there are inefficiencies such as overpriced infrastructure projects, misallocated resources, and energy theft. For example, utilities in corrupt systems may require higher inputs or deliver lower outputs due to mismanagement, leading to higher overall energy consumption. Additionally, poor governance in energy-intensive industries means that energy resources are not used as efficiently as they could be.
Although precise figures in gigawatt-hours aren't readily available, it is evident that a meaningful percentage of energy consumption is tied to corruption-induced inefficiencies, particularly in large-scale infrastructure and energy distribution networks. Efforts to reduce corruption not only improve economic performance but also enhance energy efficiency by reducing waste in public procurement and promoting better management of resources
WORLD BANK BLOGS Jonathan Meintjes fyi. I like Einstein when He said He does not play dice with the universe. Norman John Brassell fyi as well. Interesting weather lately.
