| Energy Realism this past week focused on the energy transition as it relates to the U.S. power grid. It seems that the Biden administration has an obsession with electric cars. We should expect that the $7,500 federal tax credit will be lifted to $10,000 to encourage more sales. Indeed, electric cars are much more expensive than their gasoline-powered counterparts. Oliver McPherson-Smith argues that forcing lower income taxpayers and energy ratepayers to fund the rollout of electric car charging stations constitutes a “Tesla tax” on the less wealthy. Democrats are therefore trying to make tens of millions of Americans pay for products that they are not even in the market to utilize. The goal for more electric cars, however, does indicate a U.S. power grid in transition. Bernard L. McNamee looks at what we should learn from the Texas crisis in February. Electricity markets need to be rethought, including consideration of the benefits of the traditional state-regulated utility model. Bernard L. Weinstein also examines lessons from Texas, with a more inclusive approach to generation being most essential. To keep our grid agile and reliable, nuclear, coal, natural gas, solar, and wind will all be required – at least until something better comes along. And lastly, we would be remiss not to mention Patrick J. Michaels’ touching tribute to a legendary physicist who inspired all of us to think deeper. As our climate-energy discussion marches on, maintain an independent mind and resist groupthink. Essential Reading Nathan S. Balke, Xin Jin, Mine Yücel, Federal Reserve Bank of Dallas Taking flight in 2007, the U.S. shale oil revolution has been brought about by advancing drilling technologies (“fracking”). Domestic crude oil production has more than doubled, staggering growth that has also been substantial in the context of the global oil market. The present study models the oil market to help quantify the impact of the shale revolution on oil prices and output. In the News Mario Loyola, Competitive Enterprise Institute Hugh Son, CNBC Woellert et al., Politico Kevin Crowley, Bloomberg Tilak Doshi, Forbes Tim De Chant, Ars Technica Annie Lowrey, The Atlantic Kelsey Tamborrino, Politico Sylvan Lane, The Hill Dawn Lim, The Wall Street Journal Nasdaq Ben Lieberman, Competitive Enterprise Institute Heather Richards, E&E News Gerald F. Seib, The Wall Street Journal Greg Walden, Rich Powell, The Hill TD Ameritrade Network Dan Eberhart discusses crude oil's recent price activity & demand concerns and weighs in on how the Biden administration’s infrastructure plans impact the outlook for oil and EV’s. Harvard Kennedy School's Institute of Politics What happens when China becomes number one? Interactive Brokers Interactive Brokers' senior market analyst Steven Levine details certain types of ESG-focused financial products, including green bonds, social bonds, and exchange-traded funds (ETFs... McKinsey & Company In a world increasingly concerned with the impact companies have on the environment and broader society, executives need to use ESG levers to create shareholder value. Tim Koller, Mc... | 
