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12/14/2021

Energy Realism this past week focused on the dangers of climate alarmism and the need to recognize fossil fuels for exactly what they are: affordable, reliable, and irreplaceable. 

Robert Hefner gives us the real threat behind the climate obsession: climate alarmists have portrayed the problem [of climate change] in such an extremist way that they have convinced a growing army of climate warriors that even terrorism is justified. Another part of the very dangerous “green dream” is to limit crude oil exports, either to somehow lower crude and gasoline prices here or to reduce emissions by limiting access to the world’s most essential source of energy. Mike Sommers realizes the great folly of the anti-export push: in reality, it would increase energy prices here by discouraging new production while treacherously handing even more of the global market to OPEC and Russia. Let us be clear, this is all part of an anti-American energy plan. President Biden has asked foreign nations to increase oil supply while at the same time promoting and implementing policies slowing American energy development. It seems almost impossible to believe.

Ultimately, President Biden’s climate problem comes down to physics. The hard truth is that non-dispatchable (i.e., usually unavailable) sources of energy like wind and solar simply cannot displace dispatchable (i.e., usually available) ones like oil, coal, and gas. As such, our goal to lower emissions must be practical, or we have no chance. David T. Stevenson knows that this means focusing on cutting GHG emissions at exiting power plants, namely coal and natural gas units. Carbon capture investments are essential because carbon-based fuels are so ingrained in our energy supply system that they “cannot not be used.” In fact, the International Energy Agency has had carbon capture at the heart of its 2050 climate roadmap for a very long time. Wind and solar are just too high cost and unreliable to go it alone.

Essential Reading

Shifting Oil Industry Structure and Energy Security Under Investment Phase-Outs

Michael Lynch, Energy Policy Research Foundation Inc.

The evolution of the world’s oil market continues apace. Perhaps the biggest change is that climate change policies in the West could hand more of the market to the Middle East and Russia. Efforts to discourage the production of oil are entirely misplaced since consumption is not driven by supply but demand.

In the News

Halliburton: Global Oil Scarcity Is on the Horizon

Julianne Geiger, Oil Price

Exxon Mobil Rolls Out Plan to Cut Emissions in Permian Basin

Chron

Climate Alarmism Is Doing Terrible Damage to the Young

Emma Gilland, Spiked

Drowning in False Alarmism

Editorial Board, The Washington Times

Why Is Biden Favoring Russia Instead of U.S. Oil and Gas Producers?

Larry Kudlow, Fox News

BlackRock's $1.2 Billion in Adani Tars Larry Fink's Climate Vision

Tim Buckley, GreenBiz

Citigroup’s Jane Fraser Expects to Shed Some Clients for Climate Purposes

David Benoit, The Wall Street Journal

Green Energy May Be Painful: We Need Leaders Who Tell the Truth

NY Daily News

State Officials See Nuclear Plant as Key to Connecticut’s Energy Goals

Brendan Crowley, The Connecticut Examiner

Enbridge Says Aggressive Climate Policies Shortening Life of Its Pipelines

Mike Hughlett, Star Tribune

Coal Retirements, Supply Constraints Mean More Gas

S&P Global

Holiday Gifts That Actually Fight Climate Change

Ciara Nugent, Time

China Merges Mining Assets to Create Rare Earth Mining Giant

ZeroHedge, Oil Price

Why Climate Lawsuits Are Surging

Jessica Bateman, BBC

U.S. Shale Is Refusing to Reinvest Despite Record High Cash Flow

Rystad Energy, Oil Price

Multimedia

Fuel Cell Cars: The Future or Gas Guzzlers in Disguise?

Reactions

Hydrogen fuel cell cars seem great: hydrogen and oxygen in, nothing but water out. But if that hydrogen comes from dirty, carbon-emission spewing power plants, your sustainable car m...

Biden's Approval Rating Must Go Up By Nov. For Dems to Hold Onto Congress: Wasserman

MSNBC

The Cook Political Report's Dave Wasserman, former Sen. Heidi Heitkamp (D-ND), and pollster Brian Stryker joined Stephanie Ruhle to discuss the problems Democrats face selling their ...

Pioneer Natural Resources CEO on Oil: Prices Will Likely Exceed $100 a Barrel

CNBC Television

CNBC's Brian Sullivan sits down with Pioneer Natural Resources Company CEO Scott Sheffield to discuss volatility in energy prices and global oil supply.

ESG Will Lead to Economic Destruction and Social Unrest (Here's Why)

Rebel Capitalist

ESG is anything but the savior that we keep hearing about. In fact, it will lead to total economic destruction and social unrest. 

Understanding ESG Reporting

IFAC

ESG/Sustainability is on the minds of individuals, policymakers and investors the world over. And high-quality information from companies is central to the discussion. This event aim...

Freeport LNG CEO Expects 'Heavy' LNG Demand for Decades

Bloomberg Markets and Finance

Freeport LNG CEO Michael Smith discusses the outlook for the LNG market with Bloomberg's Alix Steel and Guy Johnson on "Bloomberg Markets."  

Biden Touts Lower Oil and Gas Prices After Releasing Strategic Petroleum Reserve

Forbes Breaking News

President Biden spoke about the economy at an event on Friday.   

Gutfeld Reacts to 'Cringeworthy' Bill Nye Video With Biden

Fox News

'Gutfeld!' panel reacts to 'the science guy' promoting Biden's agenda in TikTok video. 

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