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3/23/2021

Energy Realism this past week focused on the importance of low-cost natural gas and how the power grid must remain reliable, also giving Americans low prices, as more renewables and electric cars penetrate the market. 

Jude Clemente brings a reality check for those obsessing over more wind and solar power: low-cost natural gas even over the long-term will make it harder for renewables to compete. The irony is that low-cost gas is actually the enabling force behind more wind and solar because it is the overwhelming backup for their natural intermittency. Just as importantly, low-cost gas brings a competitive advantage for our emerging hydrogen industry. Recently promoted as “huge” by climate envoy John Kerry, Jillian Evanko describes the opportunities that we have in the $125 billion global hydrogren market. 

Another key concern for greens is that high levels of wind, solar, and electric cars will require an immense mining revolution that many environmentalists themselves oppose. David Foster & Mark Ritchie explain how new frameworks and responsible mining initiatives are central to the Biden administration’s pledge to “Build Back Better.”

Electric cars in particular will need a reliable grid with affordable power rates, or the American public will simply not embrace them. Devin Hartman & Beth Garza report on five truths about grid reliability and deregulation that must hold as we move forward on climate policy. There is evidence of a strong market advantage where reforms enhance competition and choice. Indeed, Richard Axelbaum & Phillip Irace conclude by reviewing why Texas ERCOT’s CEO was let go, offering a valuable lesson for utility executives.

Essential Reading

Assessment of the Environmental Impacts of Electric Vehicle Concepts

Michael Held, Michael Baumann, ResearchGate

As compared to the internal combustion engine, battery-powered electric vehicles can have higher greenhouse gas emissions in their production phase but lower emissions during their usage. There are still many open questions that have to be further addressed for a reliable environmental assessment of electric transport.

In the News

Dispatchable Fuel Diversity Is Invaluable

Count on Coal

Activists Fight for the Right to Fight Climate Change

Jacobin

Enviro Justice Groups Plan to Shut NYC Peakers

Marie J. French, Poltiico

California Underscores Difficulty of Biden Climate Targets

Abby Smith, Washington Examiner

Tesla on Autopilot Crashes Into Police Car

Kiyerra Lake, WLNS

Investors: ‘Gold Rush on Steroids’ for Battery Metals

Henry Sanderson, Financial Times

Greenwashing the Public With Deadly ESG Distraction

Tariq Fancy, USA Today

Climate Change and Cancel Culture

Björn Lomborg, Fox News

Biden’s Solar Dreams Collide With China ‘Genocide’

Bloomberg

5 Myths About the Lone Star Blackout

Meredith Angwin, Atomic Insights

Buffett's Berkshire Opposes Climate, Diversity Proposals

Jonathan Stempel, Reuters

Meeting Investor Demand for Climate and ESG

Allison Herren Lee, SEC

Seattle Mayor Approves Updated Energy Code

Kristin Musulin, Utility Dive

Severance Tax Bad News for Pennsylvanians

Stephanie Catarino Wissman, American Petroleum Institute

Investor Urges Exxon Shareholders to Vote Against Directors

Reuters

Multimedia

Should the Shale Oil Producers Fear Biden's New Green Deal?

Kpler

In this broadcast interview, Reid I'Anson from Kpler answers the question of CNBC's Sri Jegarajah. Topics: Impact on Biden's new Green Deal on the shale oil producers; Oil majors ahe...

Everything You Need to Know About Greenwashing

NowThis Earth

Is that 'green' product actually environmentally friendly? Here's the scoop on greenwashing and how you can spot it.

Fmr. BlackRock Executive: ESG Investing Doesn't Have Any Social Impact

CNBC Television

Tariq Fancy, former BlackRock CIO of sustainable investing, wrote an op-ed stating that "the financial services industry is duping the American public with pro-environment, sustainab...

ESG Regulations in the US: What to Expect from the SEC During the Biden Administration

Mayer Brown

Join us for partner Christina Thomas’s overview of the US Securities and Exchange Commission’s ESG regulations — and what she expects will change in the near future, with a new presi...

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