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4/27/2021

Energy Realism this past week celebrated Earth Day by examining President Biden’s energy-climate plans. Although much of what the administration is pushing is unrealistic, there are some solutions that have bipartisan support. 

Carol Devine Miller wants American energy to bring back the global economy. Through strategic trade efforts, innovative public-private partnerships, and a comprehensive infrastructure revamp, U.S. energy exports can meet global demand while enhancing security and meeting emissions goals. But unfortunately, the Biden administration seems to have other ideas. As usual, Kevin Mooney digs deep and finds that UN-backed climate activists are poised to work with the Biden administration to unleash a major transformation of the American economy all under the guise of “fighting” climate change.  

Patrick J. Michaels, however, argues that much of President Biden’s climate agenda could face legal headwinds in trying to move forward. Although the U.S. is rejoining the Paris Agreement, the ability of the Biden administration to discharge its obligations under the pact are heavily circumscribed. Agency rulemaking might be its only path forward. On climate policy, it really is a shame that nuclear power gets such little focus, particularly since far too many are unrealistically focusing on “only wind, only solar.” Andrew Holland and Daniel Slesinski claim that the U.S. must do much more than simply surpass other countries’ efforts to demonstrate the first self-sustained fusion reaction.  

Hydrogen is another source of energy that deserves greater attention. Mark McManus believes that hydrogen has bipartisan support, part of a big-tent coalition to tackle climate change while also securing our energy future. But true to form, the Biden administration is blindly chasing its electric car dreams. Kat Dwyer reports that very low consumer demand simply does not warrant massive government spending on the infrastructure for such cars that would be more aptly termed “fossil fuel cars.”

Essential Reading

Why Every Serious Environmentalist Should Favor Fracking

Richard A. Muller, Elizabeth A. Muller, Centre for Policy Studies

Environmentalists who oppose the development of shale gas via hydraulic fracturing (“fracking”) are making a tragic mistake. Shale gas can help lower greenhouse gas emissions to fight climate change by displacing coal, which is still easily the world’s primary source of electricity. Gas has far lower emissions of local pollutants that are killing millions of people each year, namely PM2.5 in the still developing countries.

In the News

Climate ‘Emergency’? Not So Fast

Richard Lindzen, William Happer, National Review

Two People Killed in Fiery Tesla Crash. No One Driving.

Kim Lyons, The Verge

For China, a Summit to Neutralize Criticism, Not Carbon

Jianli Yang, Aaron Rhodes, The Hill

Tesla Crash, and Its Shaky History With Investigators

Faiz Siddiqui, MSN

Energy Giants Ditch Oil and Coal Projects. Smaller Rivals Want Them.

David Hodari, The Wall Street Journal

US Net Zero Goal Implies Energy System Transformation

John Kemp, Reuters

The Green New Deal Will Impoverish America

Joel Kotkin, Spiked

Markey Urges US to Cut Methane in Revising Its Climate Pledge

Dean Scott, Bloomberg Law

Texas Energy Firms Push Back on Buffet's $8B Plan

Mitchell Ferman, The Texas Tribune

Shareholder-Advisory, Opposing Views on Racial Audits

Saijel Kishan, Bloomberg

Map: How Countries’ Stock Markets Stack Up on ESG Practices and Carbon Risk

Valerio Baselli, Morningstar

Why Renewables Cause Blackouts, Up Vulnerability to Extreme Weather

Michael Shellenberger, Forbes

Climate Activists Put 'All Eyes on BlackRock'

Jessica Corbett, Common Dreams

India May Build New Coal Plants Despite Climate Change

Sudarshan Varadhan, Reuters

Tesla Runs on Faith, Exxon Runs on Discipline. One Is Right.

Liam Denning, Bloomberg

Multimedia

Biden Delivers Remarks At White House Climate Summit | NBC News

NBC News

Watch live coverage as President Joe Biden participates virtually in the White House climate summit with world leaders. 

John Kerry on Fighting Climate Change, Working With China

Washington Post Live

U.S. special presidential envoy for climate John Kerry says no one nation can solve the climate crisis by itself. The former secretary of state is an advocate of personal diplomacy a...

Oil Prices Between $60 to $75 a Year From Now, Dan Yergin Says

CNBC International TV

Daniel Yergin of IHS Markit discusses the outlook for the oil market. He says there's still a big surplus of oil that has not been brought back into the market.  

2021 Proxy Season: ESG Trends to Watch

Responsible Investment Association

A panel of experts discusses the key trends for responsible investors to watch ahead of what’s expected to be a very busy proxy season.

Jeff Ubben, Founder of Inclusive Capital Partners, on ESG’s Litmus Test

FII Institute

Sarah Cocker, Managing Director of Amplify Project Management Services, discussed “ESG’s Litmus Test: The Measure of Success Is Impact, Not Integration” with Jeff Ubben, Founder & Ma...

How to Build an ESG Portfolio With Christine Benz

Morningstar

Interest in mutual funds and ETFs that focus on environmental, social, and governance factors has exploded, and so have the choices. Joining Susan Dziubinski to discuss key issues to...

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