| Energy Realism this past week hit on the disastrous net zero nightmare, and we asked why the Biden administration continues to block essential energy projects, even those required for the green energy revolution it is demanding be pursued at all costs. Color us confused. Benjamin Zycher got us started last week. Once again, we had another expert examine our recent report on IEA’s Net Zero nightmare scenario. IEA’s net zero roadmap is little more than a propaganda exercise driven by wishful thinking and determination to ignore economic, scientific, and engineering realities. The concept that no new oil and natural gas fields are required beyond those already approved for development is provably catastrophic. For one, supply is increasingly being concentrated in a few major producing countries, which is a rising problem for global energy security since they are controlled by rogue governments (like Russia and Iran). And even with the need for more oil and gas development, greens are blocking the very mining projects required to construct their beloved triad: more wind, more solar, more electric cars. Rick Whitbeck looks at the Pebble mine project in his home state of Alaska. The question for greens: if a domestic supply of copper – one that will create 2.000 construction jobs and 600 full-time jobs – in a geographic area with a staggering 50% unemployment – and hundreds of millions of dollars of local, state, and federal revenues can be built safely according to a proven science-based process, why are you fighting it? David Bernhardt argues that Joe Biden is blocking such essential domestic projects and grabbing public land to prioritize “the health and resilience of ecosystems” across the 10% of American land the administration manages. He would do this by deeming “conservation” a specific “use” of these lands. Roy Mathews notes that all this is just par for the course for the administration’s backward energy policies. This past week, gas prices quickly spiked by a national average of eight cents after a year-long decline that had consumers hopeful that we would avoid a recession. Although the Federal Reserve seems to have inflation in hand, a combination of weather-related delays, low fuel reserves, and misguided Federal mandates threaten to put even more pressure on fuel prices. We have the domestic capacity to do so much more. Our Essential Reading then comes from the Federal Reserve Bank of Dallas on how America’s shale revolution has changed the dynamics of the global oil market. American shale has reduced the country’s vulnerability to price shocks, obviously vital since higher oil prices can actually lead to a recession. In the News Benjamin Zycher, RealClearEnergy Doug Vine, RealClearEnergy Gabriel Araujo, Reuters Ivana Saric, Axios Madeleine Hubbard, Just the News Vijay Jayaraj, The Hill Roy Mathews, RealClearEnergy Arianna Skibell, Politico Phuket News John Solomon, Just the News Matthew Medsger, Boston Herald Mark John, Reuters Isla Binnie, Reuters Phil Verleger, Energy Intelligence Diccon Hyatt, Investopedia Sky News Ministers have announced an expansion of oil and gas drilling in the North Sea, along with two new carbon capture projects. RealClearEnergy President Joe Biden discusses climate change and his desire to curtail oil drilling on federal land and offshore in a television interview aired by The Weather Channel on August 9th,... CNBC International TV Christyan Malek, global head of energy strategy and head of EMEA oil and gas equity research at JP Morgan, discusses the outlook for the energy sector. Bloomberg Television “Oil inventories will continue to draw and prices are going to move higher, certainly in the second half of the year.” Neil Beveridge, senior oil analyst at Sanford C. Bernstein, dis... Fox Business Former White House economist Kevin Hassett shares what to expect ahead of the release of July's CPI on 'The Evening Edit.' | 