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7/6/2021

Energy Realism this past week focused on overbearing and ineffective climate solutions and a huge opportunity for the U.S. Congress to reshore manufacturing. 

Henrique Schneider reports on the recent tax pushback in Switzerland, a leading “climate conscious” country. It is very telling that the Swiss people rejected a new climate law by a majority vote of 51.6%. The meaning of this result is clear – but apparently, to Swiss eyes only: international observers got it completely wrong. Perhaps even worse than destructive climate taxes, Steve Milloy exposes Norway’s carbon offset program. A basic problem with carbon offsets is that purchasers are buying them for emissions being emitted now, but CO2 storage would only happen much later because trees take a long time to grow. While climate litigation and carbon offset programs are not real climate solutions, solar power is surely a growing resource. Jeff Ferry argues, however, that the U.S. is wasting a critical opportunity by allowing China to control the global supply chains. This dominance even includes the repugnant use of forced labor in Xinjiang, which has helped China to produce much of the world’s polysilicon—an essential input for solar cells. Washington must decide whether solar power will come from American companies and workers or from the oppressive Chinese Communist Party. 

Essential Reading

Using Financial Regulation to Fight Climate Change: A Losing Battle

Michel et al., The Heritage Foundation

The Biden administration’s objective to “combat” climate change through financial regulation is a bad idea. Such regulations on American business, and thus consumers, will have little impact on climate change, but will raise costs, create barriers to entry, and reduce productivity, among other negative consequences.

In the News

As U.S. Temperatures Spike, So Does the Need for Natural Gas

Jude Clemente, Forbes

The U.S. Will Need a Lot of Land for a Zero-Carbon Economy

Dave Merrill, Bloomberg

Climate Litigation Supporters Admit That Attribution Science Is Failing in Court

William Allison, Energy In Depth

Big Oil Attacks the SEC Over Mandatory ESG Disclosure

Tim Quinson, Bloomberg

EU Enshrines Net-Zero, Emissions Targets Into Law

Angela Dewan, CNN

Granholm: ‘We Don’t Know Fully’ If Climate Change Played Role in Collapse of FL Condo

Trent Baker, Breitbart

Is It All Just Greenwashing? How to Recognise Genuine Sustainable Commitment

Regina Henkel, ISPO

How to Tell a Real Oil and Gas ESG Program From a Fake

Monique Jozwiakowski, Rigzone

3 Ways the U.S. Can Finance the Future

Fiona Reynolds, The Hill

SEC ‘Mission Creep’ on Climate Ups Republican Lawsuit Threats

Andrew Ramonas, Bloomberg Law

Biden’s Climate Credentials Challenged By Oil Pipeline Brawls

Myles McCormick, Financial Times

Address Climate Change Through Congressional Action, Not Lawsuits

Bernard L. Weinstein, The Hill

Why Tesla Stock Is Getting Left in Ford's and GM's Dust

Paul R. La Monica, CNN

China ‘Needs a Future Coal Industry, Not a Future Without Coal’

Hellenic Shipping News

BlackRock’s ‘No. 1’ Goal in ‘Woke’ Investing: Huge ESG-Funds Haul

Charles Gasparino, New York Post

Multimedia

President Biden Delivers Remarks on the Bipartisan Infrastructure Deal

The White House

President Biden delivers remarks on the bipartisan infrastructure deal.  

How Does an Electric Car Work?

Lesics

Electric cars are making big waves in the automobile world. These noise-free, pollution-free and high-performance vehicles are expected to make their I.C. engine counterparts obsolet...

Defining ESG: How the Scope of Impact Investing Could Change in 2021

CNBC Television

Engine No. 1 CEO Jennifer Grancio and DWS Group's Head of Systematic Investment Solutions for the Americas, Arne Noack, share their predictions for how ESG (environmental, social and...

How Legal & General Is Holding Companies Accountable to ESG Initiatives

Yahoo Finance

John Hoeppner, Head of U.S. Stewardship and Sustainable Investments at Legal & General Investment Management America, joins Yahoo Finance Live to discuss why the company is dropping ...

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