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2/8/2022

Energy Realism this past week focused on climate hypocrisy and the European energy crisis, two black eyes for greens that their energy fantasies can only make worse. 

Robert Bryce starts the week off by hitting the obvious hypocrisy of the Sierra Club. In reality, big offshore wind is worse than big offshore oil and gas: it industrializes the coastal habitats of ocean life. It appears that the Sierra Club wants to protect right whales, unless, of course, they happen to be swimming in the way of offshore wind development. Indeed, when analyzed honestly, “green energy” is not nearly as green as advertised. The climate panacea pushed by green groups (gigantic amounts of wind, solar, and electric cars) require massive amounts of critical materials that must be mined. Cobalt is one of those, an essential metal in the rechargeable batteries needed to power electric vehicles and store electricity from renewable sources. Ambassador J. Peter Pham examines ways in which the U.S. can derisk the cobalt supply chain. The problem, predictably, is that greens contradict themselves by demanding so much more renewables and electric cars but opposing the mining of the materials that comprise them. And can we stop the favoring of these “green technologies” to begin with? Jakob Puckett knows what we all should know: no more picking energy winners and losers with policy; the free-market works best. 

Ground zero for such bad energy policy due to the climate obsession, Conor Bernstein is correct: the European energy crisis is poised to go from very bad to unimaginably worse. While all eyes are on Ukraine and Russia, Europe’s energy woes are largely self-made. Somehow, many in the U.S. insist that we follow the same green dead-end path. Robert Lyman & Tom Harris show how big city Mayors across the country have fallen hook, line, and sinker for the climate panic. And as Kevin Mooney points out, the ongoing European energy crisis, can be partly blamed on President Biden and his green withdrawal of support for the EastMed pipeline extending from Israel to Southern Europe. As it turns out, the real “Russian collusion” story has nothing to do with Donald Trump but everything to do with greens blocking oil and gas development at every turn – all to Putin’s great delight.  

Finally, Benjamin Zycher explains why climate-obsessed celebrities might be the worst of the bunch. While he surely is an inspirational success story, Arnold Schwarzenegger’s recent article in the NYT defending rooftop solar was completely tone-deaf. Contrary to green claims, rooftop solar subsidies harm low-income and communities of color the most. They are a reverse Robin Hood, where less fortunate Californians must still pay for power grid upkeep while the wealthy that can afford rooftop solar do not and get lavish handouts from utilities. Your inconvenient truth, Arnold, is that racial equity advocates have very good reasons to push back on rooftop solar like they have been.

I’ll be back! 

In the News

The World Isn’t Ready for Climate Change-Driven Inflation

Robinson Meyer, The Atlantic

House Democrats Urge Biden to Pass Climate Change Portion of Build Back Better

Emma Newburger, CNBC

Can Engine No. 1 Help Wall Street Overcome Finance Inactivism?

Grant Harrison, GreenBiz

We’ve Hit Another Climate Dead End. Only Worker Power Can Turn Us Around.

Keith Brower Brown, Jacobin

Automated Vehicle Legislation Sought to Make U.S. Roads Safer

Lillianna Byington, Bloomberg Government

9 Important Changes a Focus on ESG Will Bring to Financial Reporting

Finance Council, Forbes

Why Are Fossil Fuel Firms and Senate Republicans So Afraid of Sarah Bloom Raskin?

Kate Aronoff, TNR

Free Market Reforms Can Help Reduce GHG Emissions Faster

Jakob Puckett, RealClearEnergy

How Joe Biden's Opposition to Natural Gas Pipelines Emboldens Putin and Jeopardizes Europe

Kevin Mooney, RealClearEnergy

Biden Blocks More Investments In U.S. Energy Security

David Blackmon, Forbes

Biden's Big Energy Bust

Rupert Darwall, Spectator World

Tesla to Recall Nearly 54,000 Vehicles That May Disobey Stop Signs

Reuters, CNBC

Georgia Power Plans to Phase Out All Coal Plants By 2035

Drew Kann, The Atlanta Journal-Constitution

EU Wind, Solar Push Not Enough to Limit Global Warming

Financial Times

Big Oil Is Quietly Exploring for More Crude

Irina Slav, Oil Price

Multimedia

Generally We Are Bullish and See Oil Prices Pushing Higher: BofA's Blanch

CNBC Television

Francisco Blanch, Bank of America head of global commodities, joins 'Power Lunch' to discuss what could push crude oil prices lower, why sustained commodity prices are good for energ...

Most Bullish Catalyst for Oil in Modern History Is Coming

Financial Post

Eric Nuttall, Partner and Senior Portfolio Manager at Ninepoint Partners, talks with Financial Post's Larysa Harapyn and makes the case why the most bullish catalyst for oil in moder...

President Biden's Oil & Gas Leasing Surpasses Trump's

The Ring of Fire

Via America’s Lawyer: President Biden has been quietly approving oil and gas drilling permits at breakneck speed – even outpacing former President Trump. RT's Brigida Santos joins Mi...

Take These ‘Easy’ Steps to Combat ESG Scores Today

Glenn Beck

ESG scores — part of The Great Reset — WILL fundamentally transform not only America but how YOU live your life too. And the only way to stop them, Glenn says, is if we work together...

Steve Forbes Tears Into AOC Claiming Price Gouging Is Fueling Inflation

Fox Business

Forbes Media Chairman Steve Forbes discusses Biden's approval rating, Rep. Alexandria Ocasio-Cortez's comments on inflation, moderate Democrats and crypto.

Who's Afraid of Nuclear Waste?

Kite & Key Media

How risky is nuclear waste? The answer might surprise you. Let’s start with the basics: What exactly is nuclear waste? It’s not a green goo stored in a flimsy drum. It’s a solid stor...

Biden Meets Qatar Leader as Europe Energy Crisis Looms

WPRI

President Joe Biden is hosting the ruling leader of Qatar at the White House on Monday as he looks for the gas-rich nation to step up once again to help the West as it faces the pros...

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