View this email in your browser
3/9/2021

Energy Realism this past week supported reliable, affordable energy for the world’s poor and the need for a more resilient U.S. power grid. 

Energy poverty might just be the world’s biggest problem, and it is going completely ignored. The position of “only wind, only solar” is not just hypocritical but utterly unfair: fossil fuels supply 80% of America’s energy. Katie Tahuahua says that if President Biden’s administration is serious about fighting poverty and leading the pursuit of equity, it must reverse the ban on fossil fuel financing for the developing world. Indeed, looking at green-fixated California, Jude Clemente shows how higher cost, less reliable energy from renewables hurts minorities and lower-income people the most, which explains why civil rights leaders like Revs. Al Sharpton and Jesse Jackson are actively supporting low-cost natural gas.

Perhaps worse, the real winners from such a green obsession are obvious. Senior Fellow Rupert Darwall knows that climate policy has devolved into a money-making scheme where only the elite benefit. The extending divisions within “the climate community” first became visible with Michael Moore’s 2020 movie Planet of the Humans, which pitted true believers on one side against those positioning themselves to reap profits from the climate money pouring into decarbonization, only to get removed from woke YouTube. 

Back to Texas, Carlton D. Everhart wants us to learn from the crisis by updating the entire U.S. power grid. We need the strategic vision, and collective political leadership and political will, to plan, prepare for, and create a resilient energy future. Tony Clark agrees and destroys five myths about what exactly happened in Texas. The analyses are just emerging but one thing is certain: resiliency can only become more critical. 

Essential Reading

Do Renewable Portfolio Standards Deliver Cost-Effective Carbon Abatement?

Michael Greenstone, Ishan Nath, Energy Policy Institute, University of Chicago

Using the most comprehensive data set ever compiled and a difference-in-differences style research design, we find that electricity prices are 11% higher seven years after RPS passage, largely due to indirect grid integration costs (e.g., transmission and intermittency).

The Impact of the Federal Carbon Tax on the Competitiveness of Canadian Industries

McKitrick et al., Fraser Institute

With Canada’s federal carbon tax set to reach $50 per tonne in 2022, there are concerns that businesses will become less competitive as a result of higher energy costs. Evolving technologies will help but policy makers must better understand how carbon taxes can impact Canada’s economic competitiveness.

In the News

Central Banks and Climate Is Mission Creep

John H. Cochrane, Hoover Institution

Global Lockdown Needed Every Two Years for Climate Goals

Fiona Harvey, The Guardian

Why ‘Social Cost of Carbon’ Is the Most Useless Number You’ve Never Heard Of

Kevin Dayaratna, The Daily Signal

To Go Electric, US Needs More Mines. Can It Build Them?

Ernest Scheyder, Reuters

Report on Gas Industry Is Flawed

Stephanie Catarino Wissman, Pittsburgh Post-Gazette

Citigroup, Exxon Must Let Investors Vote on ESG

Saijel Kishan, Bloomberg

Romney, McCarthy Teamed on CO2. Will They Again?

Benjamin Storrow, E&E News

Will Biden’s SEC Seize the Moment for Sustainability?

Lisa Woll, Barron's

Tesla vs. Lucid: How the EV Rivals Are and Aren’t Alike

CNBC

SEC’s Lee Puts Climate Disclosure on the Agenda

Ben Ashwell, IR Magazine

Boris Johnson: Meat Prices Won't Rise From New Green Taxes

The Sun

Role of Accounting, Auditing for Climate Change

Samantha Ross, Center for American Progress

Biden's Kill of Keystone XL Could Spell Disaster

Barnini Chakraborty, Washington Examiner

High Prices Could Block California's 'Electrification' Goals

Kavya Balaraman, Utility Dive

Real Leadership Builds America-First Energy Infrastructure

Governor Kristi Noem, The Washington Times

Multimedia

Exxon Goes Green? Stock Rallies as Jeff Ubben Gains Board Seat

CNBC Television

Could Exxon go green after activist investor joins the board? With CNBC's Melissa Lee and the Fast Money traders, Guy Adami, Tim Seymour, Karen Finerman and James McDonald.

2021 Outlook for the US Shale Oil and Gas Market

FreightWaves

Kevin Hill, Executive Publisher, FreightWaves, chats with Benjamin Shattuck, Research Director, US Oil and Gas, Wood Mackenzie. The past two years have been low points for domestic o...

It Wouldn't Hurt for Exxon to Invest in ESG: Wolfe Research Sam Margolin

CNBC Television

Activist investor Jeff Ubben joined ExxonMobil's board of directors. Sam Margolin from Wolfe Research joins 'Closing Bell' to discuss what this means for the company moving forward.

ESG Impact Investing Explained: What Is Sustainable Investing?

GO Invest

In this video, I give an overview of ESG sustainable investing, detail the recent trends of impact investing in 2021, look into the performance of sustainable funds, and explain some...

Having trouble viewing this email? | [Unsubscribe] | Update Subscription Preferences 

You receiving this email because your address is in the Energy Realism list from https://www.realclearpublicaffairs.com/.

Copyright © 2021 RealClearHoldings, All rights reserved.
RealClearHoldings
666 Dundee Road
Bldg. 600
Northbrook, IL 60062