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3/28/2023

Energy Realism this past week sliced the ESG nightmare and explained why nuclear and carbon capture must become a much bigger part of our energy-climate discussion. As it turns out, greens tend to support their favored industries, not real climate solutions to slash emissions. 

Our Senior Fellow Rupert Darwall nails it again: Biden’s provably ridiculous ESG obsession is bad for the economy, bad for investing, bad for retirement plans, and… will surge interest rates. As can be seen on this 20th anniversary of the Iraq war and its nonexistent weapons of mass destruction, a policy misrepresented and deceptively sold to the public poisons democracy. ESG, for instance, has an awkward obsession with higher cost and less reliable renewables – which require massive amounts of destructive mining – but seems to ignore cleaner and highly dependable nuclear power. Byron Donalds & Christopher Barnard want us to refocus on nuclear more than intermittent and not as “clean” as advertised wind and solar. The Biden administration announced the allocation of $1.2 billion to keep aging nuclear power plants online – but the real solution to our country’s ongoing nuclear predicament is to create a regulatory environment in which next-generation nuclear technology can be developed, deployed, and replicated in an efficient and modernized manner. Benjamin Khoshbin agrees: we will undeniably require nuclear energy infrastructure to address our future energy needs.

And no matter what, carbon capture and storage (CCS) is also a required climate change solution since fossil fuels are so ingrained in our society and way of life. In short, fossil fuels will not be “going away” for decades at the earliest. Rich Powell documents how the hold up on carbon capture permits is threatening real progress on climate change. CCS must be essential to energy tax incentives, which, along with the bipartisan infrastructure law of 2021 and increasing private sector investments in innovation, have the potential to catapult U.S. clean energy projects and firmly establish our global leadership in clean energy deployment. Indeed, Tom Widroe looks at how the largest U.S. state should be pursuing CCS in order to cut its emissions and meet its climate objectives. 

Essential Reading

Seven Principles of Sound Energy Policy

Jason Hayes, Mackinac Center

Without energy, there is no human flourishing. While it is true that all energy sources have an environmental impact, in our massive energy complex, it is production scale that rules the day. To be effective, energy must be reliable and affordable.

In the News

Lithium Prices Hit Hard as EV Sales Stumble

ZeroHedge, Oil Price

Oil Is on Sale and Buffett Is Buying, Should You?

Chris Helman, Forbes

Big Banks Must Stop Lending to Big Oil

Ben Jealous, Chicago Sun Times

Biden Goes Full Radical in Defense of ESG Investing

John Hart, C3 News Mag

Pierre Andurand: Oil Prices Will Hit $140 This Year

Tsvetana Paraskova, Oil Price

Scratched EV Battery? Your Insurer May Have to Junk the Whole Car

Reuters

Can Exxon and Chevron Master Oil Trading?

Javier Blas, Bloomberg

Mr. Xi Goes to Moscow, Replacing U.S. Leadership

Paul du Quenoy, Newsweek

EPA’s Chemicals Agenda Must Not Unnecessarily Harm U.S. Innovation

Robert Dillon, RealClearEnergy

EPA Lowering 'Environmental Justice' in Louisiana

James Varney, RealClearInvestigations

The Willow Project Is a Band-Aid. Nuclear Energy Is the Cure.

Benjamin Khoshbin, RealClearEnergy

California Needs Carbon Capture to Meet Net-Zero Carbon Goals

Tom Widroe, RealClearEnergy

It’s Time for America to Unleash Next-Generation Nuclear Energy

Byron Donalds, Christopher Barnard, RealClearEnergy

Leading Economist: “Net Zero Means Higher Interest Rates”

Rupert Darwall, RealClearEnergy

UN: 'Humanity on Thin Ice' Following Climate Report

Bailee Hill, Fox News

Multimedia

Kevin O'Leary Breaks Down SVB Collapse

Fox News

'Shark Tank' co-host and O’Leary Ventures Chairman Kevin O’Leary calls out Biden's 'knee-jerk' response to the Silicon Valley Bank collapse.

Baker Hughes CEO on LNG, Oil, China Growth

Bloomberg Television

Baker Hughes Chairman & CEO Lorenzo Simonelli gives his outlook for the year. He discusses China's 5% growth target, LNG capacity and oil in an interview with Bloomberg's Alix Steel ...

Nord Stream Bombing: Jeremy Scahill on Why U.S. Remains Most Likely Culprit

Democracy Now

Questions continue to swirl about how Nord Stream 1 and Nord Stream 2 were damaged last year, with U.S. officials maintaining they had no role in the sabotage of the pair of Russian ...

The Race to Electrify America’s School Buses

CNBC

The electric vehicle revolution is making its way to a new segment, school buses. In the U.S., 26 million children take 480,000 buses to and from school every day. Converting that fl...

SVB fallout: Depositors Are Fine, No Need to Worry

CNBC Television

Mohamed El-Erian, Allianz and Gramercy advisor and president of Queens' College, Cambridge, joins 'Squawk Box' to discuss his thoughts on the backstop provided to SVB, if other banks...

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