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1/2/2024

Energy Realism this past week discussed the value of constant innovation, and why climate policies should never pick energy winners and losers. 

Jeff Luse got us right before Christmas: it is economic freedom that should lead the fight in climate change policy. The power of innovation knows no bounds. And fossil fuels are so dominant that they must be incorporated into the “solution” part of the conversation, not the “problem” part. The task of moving away from fossil fuels quickly or suddenly is wildly unrealistic as they supply 80% of the world’s energy needs. Global energy demand is expected to increase 50% by 2050, with a majority of that growth coming in the developing world. Fossil fuels are also responsible for many of the goods that have advanced human prosperity including fertilizers, cell phones, cookstoves, clothing, and more. Tom Albanese reports much of the same. The world is becoming increasingly electric and connected, transitioning towards a future powered by batteries and running on electronics that will require an ever-growing supply of critical minerals and materials. From the Ford F-150 Lightning to the F-35 fighter jet, these minerals and materials already power our most advanced technologies and nearly every facet of our everyday lives.

Jean-Claude Viollier encompasses all of these concepts as “climate technology.” Leaders who embrace sustainability initiatives across all areas of their organization will set an example for their entire workforce and instill a culture mindset that is dedicated to a better future. Those interested in beginning their sustainability journey should follow the example of organizations paving the way, share their stories across their network, and assess how they, too, can make a difference. Our Essential Reading then this week comes from Kathleen Hartnett White, at the Texas Public Policy Foundation. Since the Industrial Revolution, human’s ability to harness the energy of fossil fuels has secured unprecedented improvements in health, wealth, and living standards. Current policies to supplant fossil fuels undervalue the magnitude of human improvement made possible by fossil fuels and overvalue current alternatives to fossil fuels. 

In the News

There Was Some Good Climate News in 2023. Really.

Casey Crownhart, MIT Technology Review

Some Key Takeaways From the COP28 Climate Summit

UNEP

Green Groups See Leverage From Biden’s COP28 Promise

Ben Lefebvre, Politico

U.S. Is Producing More Oil Than Any Country in History

Matt Egan, CNN

170 Scientists to Biden: Reject LNG and Gas Infrastructure

Food & Water Watch

Biden, U.S. Oil Boom Are the New Odd Couple

Ben Geman, Axios

2024: The Year of the Energy Sanctuary State

Larry Behrens, RealClearEnergy

COP28 and the Climate Fail

Holman W. Jenkins, Jr., WSJ

Against Wind Power, Judge Sides With Osage Nation

Robert Bryce

We Own More Cars Than Ever. So Why Are We Driving Less?

David Harrison, WSJ

Climate Technology Is Essential to Corporate Sustainability

Jean-Claude Viollier, RealClearEnergy

The Energy Transition Is Not Just About EV Batteries

Tom Albanese, RealClearEnergy

Multimedia

Fmr. Ford CEO Mark Fields on EV transition: Government has to 'Back Off'

CNBC Television

Mark Fields, former Ford Motor Company president and CEO, joins 'Squawk Box' to discuss the state of electric vehicle rollout in the U.S., reasons behind a slowdown in sales, the cha...

U.S. Oil Production Is a 'Real Problem for OPEC'

CNBC Television

Paul Sankey, Sankey Research, joins 'Fast Money' to talk today's OPEC+ meeting, what's ahead for the energy markets and more.

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