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6/22/2021

Energy Realism this past week looked at how oil and gas development can help cities, while the green obession to force more wind and solar power at all costs can hurt them. 

Now our second largest natural gas producer after Texas, the shale revolution since 2008 has turned Pennsylvania into an energy powerhouse. Jeff Nobers agrees with President Biden’s Energy Secretary Jennifer Granholm that shale capital Pittsburgh has become a prime example for other states. She calls it “the Pittsburgh playbook” for diversifying an economy, especially critical for a city long desperate to replace its fleeing steel industry. California in particular could learn a lot from the ‘Burgh. Joel Kotkin discusses how Kern County, once a booming oil region, has been destroyed by progressive policies. Indeed, climate change obsession sits at the core of this assault.

Climate obsession has even hit oil and gas titan Texas, where a taxpayer subsidized boom for wind and solar just had the state confronting another power crisis. Robert Bryce wants us to “follow the money,” as a ridiculous amount of resources are being thrown at renewable energy systems that are both unreliable and higher cost. The real moral problem, however, is that so many in the green movement hypocritically insist that the still developing countries only focus on renewables, despite the fact that that they cannot afford them. Adam Houser knows that climate obsession will only serve to keep Africa poor. In fact, as many energy options as possible are required because resource-rich Africa has over 600 million people that have no access to electricity whatsoever – with energy deprivation being the world’s forgotten calamity. 

Essential Reading

Carbon Neutral Bonds: Has China Set the Bar Too Low?

Christina Ng, Institute for Energy Economics and Financial Analysis

To meet a net-zero carbon goal by 2060, international players in the environmental, social, and corporate governance space need much more evidence that market discipline for China’s own green bond issuers will be improved.

In the News

Climate Policy: The Case for a New Perspective

David Kreutzer, Institute for Energy Research

House Passes ESG, Climate Disclosure Rules

Laura Weiss, Roll Call

Tesla and Other Bubble Stocks Have Deflated Just Like 2000

James Mackintosh, The Wall Street Journal

German Industry Calls for Impact Assessment of Decision to Raise Climate Targets

Clean Energy Wire

Top Commodity Traders Bet Big on the Future of Oil

Irina Slav, Oil Price

ERCOT Issues Conservation Alert, Media Blames Natural Gas

David Middleton, WattsUpWithThat

Texas Targets Wall Street in Fight Over ESG

Rachel Adams-Heard, Bloomberg

California Walking a ‘Tight Rope’ as Hydropower Supply Fades

Brian Eckhouse, Yahoo News

As Temperatures Soar, California and Texas Urge Power Conservation

Scott DiSavino, Reuters

Americans Vehicle Age Hits Record 12 Years

Mike Colias, The Wall Street Journal

Public Input on Climate Change Disclosures

U.S. Senate Committee on Banking, Housing, and Urban Affairs

Wanna Live Forever? Become an Energy Tax Credit; They Can’t Seem to Die

William Murray, C3 News Mag

Green Bottlenecks Threaten the Clean Energy Biz

The Economist

Renewable Energy Has a Major Employment Problem

Haley Zaremba, Oil Price

Millions of Electric Cars are Coming. What Happens to All the Dead Batteries?

Ian Morse, Science Mag

Multimedia

What Is the G7?

CNBC International

The G7 or Group of Seven is an organization made up of world’s “most influential” and “advanced” economies. Every year, the leaders of the United States, United Kingdom, Canada, Fran...

Alberta Ends Its Involvement With Keystone XL Pipeline

CBC News

University of Calgary's Richard Masson says politics played a role at the death of the Keystone XL project pipeline. The Alberta government and TC Energy announced today the terminat...

The Global ESG Imperative: Reshaping Supply Chains

WithTheEconomist

The global ESG imperative continues to reshape supply chains. We interview Dr. Richard Haass on this increasingly critical subject. 

The Power Hungry Podcast: Rupert Darwall

Robert Bryce

Rupert Darwall is a fellow at the RealClearFoundation and the author of two books: Green Tyranny, and The Age of Global Warming. In this episode, Darwall talks to Robert about his re...

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