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6/29/2021

Energy Realism this past week focused on climate policy, the need for more natural gas and pipelines, and the warning signs from electricity problems in California and even Texas, where an immense subsidy program for renewables has distorted the market.

Senior Fellow Rupert Darwall kicks us off by celebrating the 33rd birthday for global warming in politics, or the all-inclusive “climate change” as the term goes today. Joe Biden may have campaigned to restore U.S. climate leadership and rejoin the Paris agreement but the two in reality are contradictory. Following the Europeans down the dead end of a 30-year failed UN process hardly constitutes leadership. Indeed, based in Europe, Lucas Bergkamp and Katinka M. Brouwer know that climate change litigation pending before the European Court of Human Rights is designed to arouse extreme forms of judicial climate activism. The climate cases pose a serious threat to the rule of law and democratic politics.  

For example, the growing push against natural gas is especially short-sighted. Jude Clemente reports on the shale gas production boom in his home state of Pennsylvania, now closing in on Texas as the country’s largest gas supplier. There are numerous reasons why we should support even more gas flowing from The Keystone State. Stephanie Catarino Wissman agrees and explains how pipelines have been essential to Pennsylvania’s energy development and the nation overall. The recent ransomware attack on the Colonial Pipeline demonstrates how integral pipelines are to safely and economically moving our two top fuels, the oil and gas that meet 70% of America’s energy needs.  

Robert Bryce looks at the so-called leader on climate change: California, where blind climate policy is devastating the state’s power grid. Two clear energy trends are underway in California: soaring electricity prices and ever-worsening reliability – and both trends bode ill for the state’s low- and middle-income consumers. Bernard L. McNamee argues that California is actually just one of many states that need to overhaul their electricity market. Both California and Texas have faced drastic power problems over the past year alone, and we must pay attention to the warning signs in those places where reliability is quickly eroding. 

In the News

China Vows to Retaliate If US Bans Import of Solar Panel Material From Xinjiang

Economic Times

What’s Happening With Tesla’s $7B German ‘Gigafactory’?

Reuters

15 Electric Cars (and Trucks) to Watch in 2022

Eric Brandt, MarketWatch

U.S. Sanctions Chinese Solar Firms for Uighur Human Rights Abuses

Al Jazeera

What If American Democracy Fails the Climate Crisis?

Ezra Klein, The New York Times

Students Protest at Science Museum Over sponsorship by Shell

The Guardian

Companies Want Climate Reporting — Without the Risk

Lorraine Woellert, Politico

What Should the SEC Require in Climate Change Disclosures?

Bernice Napach, Think Advisor

Biden to Deter Forced Labor With Ban on China’s Solar Panel Materials

Bob Davis, The Wall Street Journal

The Little Hedge Fund Taking Down Big Oil

Jessica Camille Aguirre, The New York Times

The Dark Side of Solar Power

Atasu et al., Harvard Business Review

Students Protest at Science Museum Over sponsorship by Shell

The Guardian

Phasing Out Coal Will Require Germany to Build New Gas Plants

Jesper Starn, Bloomberg

Asia’s Richest Man Says ‘No Option’ But to Make Businesses Green

Yahoo Finance

Coal Phase-Out Plan Gets Pushback in Power-Hungry Indonesia

Hans Nicholas Jong, Mongabay

Multimedia

Goldman's Currie on Favorite Commodity: Oil, Oil and More Oil

Bloomberg Markets and Finance

Jeff Currie, Goldman Sachs global head of commodities research, sees a lot of upside risk when it comes to oil prices and predicts $80 a barrel in the third quarter. He speaks with B...

Brent Crude Oil Could Hit $100 a Barrel in 2022

CNBC Television

Francisco Blanch, head of global commodities and derivatives at Bank of America Merrill Lynch, joins ‘Closing Bell’ to discuss crude oil hitting $100 a barrel in 2022. 

ESG – What’s New

IOSHchannel

ESG in not a new concept or topic and certainly not for the audience who will be in this session. Many safety and risk professionals have been pushing the environmental safety and st...

ESG in Finance: Making Sense of the Madness

Simon Business School – University of Rochester

The last few years have seen an increasing hype around sustainability and ESG (Environmental, Social, and Governance) investing. We have witnessed real change as some banks have stop...

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