View this email in your browser
11/2/2021

Energy Realism this past week focused on surging energy prices and the opening up of COP26. Dangerous climate hypocrisy swirls all around us. 

Kicking off this week, COP26 will once again illustrate just how bizarre the climate change discussion really is: no questions about “the science” ever allowed. Anthony Caso says that this anti-Western values attitude - one that seeks blame rather than collaboration - is part of what is destroying our ability to unite as a country. Now, based on current events in Washington, DC, it appears that some in Congress, too, are joining the ranks of the “cancel culture” movement. And Vijay Jayaraj is correct, that for Western climate alarmists, the absence of Xi and Putin at COP26 could be a lethal blow to the global anti-fossil fuel agenda. China and Russia account for nearly a third of the world’s CO2 emissions.

We do know, however, that there is undeniable evidence that climate change policies increase the cost of energy (see Europe, California, Australia, and Ontario over the past decade). High-cost energy is particularly devastating for low-income Americans and communities of color, or the very same people that the Biden administration claims are helped by them. The exact opposite is true. Todd Snitchler knows that Joe Biden’s request for OPEC and Russia to increase their own production literally makes no sense. As a global energy crisis takes hold, and shortages proliferate, the administration should obviously be asking our own companies to lift output.

Lars Schernikau does not believe that fossil fuel prices can remain so high for much longer but we need to move quickly to bring more supply online. We clearly, however, have a problem longer-term. That banks, governments, and institutions shy away from investments in many mining activities, especially if the investments have anything to do with fossil fuels, is a long-term trend and a growing problem for the world at large. Indeed, Larry Behrens sees the game for exactly what it is: Western politicians bought and sold by leftist billionaires. The new-fangled scheme is more sinister and more widespread than many of us could ever imagine. Our Senior Fellow Rupert Darwall concludes the week for us by noting that the ESG movement faces a very serious legal problem: either money managers do their job and try to make money for their clients or face lawsuit action for promoting left-wing climate activism over making money. 

In the News

Meeting State Offshore Wind, Renewable Goals Requires Up to $3.2B in Transmission, PJM Says

Ethan Howland, Utility Dive

COP26 Will Change Nothing Without the End of Capitalism

Kevin McKenna, The Herald

Biden Has Few Options to Combat Surging Gas Prices as Voters Grow Concerned About Inflation

Kayla Tausche, CNBC

Climate: Australia Pledges Net-Zero Emissions by 2050

BBC News

Record-Breaking California Bomb Cyclone Linked to Climate Change

David Knowles, Yahoo News

LNG Demand to Rise 25-50% by 2030: Morgan Stanley

Reuters, Arab News

Xi and Putin Snubbing the COP26 Climate Summit

Thomas Colson, Business Insider

Elon Musk’s Fortune Soars $36 Billion in a Day on Hertz Order

Yahoo Finance

Judith Curry: COP26 “Code Red” Misleading (New Jersey Data Point)

Robert Bradley Jr, Master Resource

Florida Is Ditching Palm Trees to Fight the Climate Crisis

Allison Chinchar, CNN

Japan OKs Plan to Push Clean Energy, Nuclear to Cut Carbon

Mari Yamaguchi, AP

Listed Companies Driving a 3C Rise in Temperatures, Study Finds

Emma Boyde, Financial Times

Yes, There Has Been Progress on Climate. No, It's Not Nearly Enough.

Brad Plumer, Nadja Popovich, The New York Times

Wow! Tesla Hits $1 Trillion Market Cap

Samantha Subin, CNBC

Board Readiness for Shareholder Activism

Paul DeNicola, HLSFCG

Having trouble viewing this email? | [Unsubscribe] | Update Subscription Preferences 

You receiving this email because your address is in the Energy Realism list from https://www.realclearpublicaffairs.com/.

Copyright © 2021 RealClearHoldings, All rights reserved.
RealClearHoldings
666 Dundee Road
Bldg. 600
Northbrook, IL 60062