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3/8/2022

Energy Realism this past week analyzed best ways to assist Europe while also helping ourselves. As it turns out, Western green utopianists might be Vladimir Putin’s greatest weapon. 

Once again, our Senior Fellow Rupert Darwall kicks us off by discussing the Biden administration’s dangerous green obsession as it relates to ESG and net-zero dreams. Rising inflation already threatens the value of Americans’ retirement savings, but now the administration is finalizing a rule to loosen safeguards under the Employee Retirement Income Security Act of 1974 (“ERISA”) that protect private retirement savings. Seeing a big money opportunity, Wall Street is predictably cheering the move. Next, Rupert moves on to the sad joke that is John Kerry, the clueless climate hypocrite who now worries if Putin has been considering climate change as he invades a sovereign and peaceful nation. 

Indeed, the anti-energy administration loves to leverage the courts to fuel green degrowth to “fight climate change.” Abigale Tardif & Michael Pepson hit the recent Supreme Court oral argument in West Virginia v. EPA. This case is about who has the power to make law in this country. Can unelected, politically unaccountable government bureaucrats unilaterally and fundamentally transform entire sectors of the economy? Or are questions like those for the American People’s elected representatives in Congress to decide? The warning signs are everywhere. Biden has surrounded himself with those hell-bent on installing the same failed energy-climate policies that have put Europe in its worst crisis since Hitler. Matthew Kandrach makes clear: we here in the U.S. are stumbling toward an energy crisis likely to be worse than our own upheavals of the 1970s. As noted by Larry Behrens, the good news is that the right policies could easily help us regain the energy dominance that we had under President Trump. 

But we remain stuck in a green energy quagmire, and Carol D. Miller & Jodey Arrington explain how the Biden administration has failed to help allies in energy-starved Europe. Hopefully voters are understanding the deadly results of the West’s green push away from reliable, affordable energy sources and toward unreliable, expensive ones. Gene Yaw agrees: the world needs American energy dominance now more than ever. Our elected officials must set aside their allegiance to green lobbyists and crank up oil and gas production to crush Putin’s war machine without setting a single foot on foreign soil. 

Finally, we bring you a very relevant Essential Reading this week on how Russia uses energy as a tool of foreign policy. Bluntly put, all western politicians should have seen this horrific situation coming and sought all measures to get off Russian energy a long time ago. The sad truth, of course, is that the greens forced policies upon us that would not allow it. 

In the News

Putin Blows Up Net-Zero and the Green Reset

Terence Corcoran, Financial Post

Exxon to Exit Russia, Leaving $4B in Assets

Sabrina Valle, Reuters

After the Ukraine Invasion: Energy Realism Emerges in Germany While the U.S. Doubles Down

Tilak Doshi, Forbes

Rick Perry: Biden Admin. Gave Putin 'Leverage' By Blocking American Pipelines and Drilling

Andrew Mark Miller, Fox News

Investigate Russia's Covert Funding of U.S. Anti-Fossil Fuel Groups

Merrill Matthews, The Hill

The U.S. Is "Very Open" to Sanctioning Russian Oil and Gas

Tsvetana Paraskova, Oil Price

TODAY'S FLASHBACK: Without Fracking for Natural Gas, the U.S. Loses and Putin Wins

Jude Clemente, Forbes

TODAY'S FLASHBACK: Nord Stream 2: Biden Waives U.S. Sanctions on Russian Pipeline

BBC News

Tesla Shares Rally on Expectations That German Factory Will Open in March

Lora Kolodny, CNBC

Will Biden's Freezing of Oil and Gas Leases Exacerbate the Energy Crisis?

ZeroHedge, Oil Price

Oil Price Jumps to Nearly $114; Natural Gas Prices Reach Record Highs

Julia Kollewe, The Guardian

Cleaner U.S. Gas Can Reduce Europe's Reliance on Russian Energy

Paul Bledsoe, The Hill

U.S. LNG Exports Expected to Average 11.3 Bcf/d in 2022

Keefe Borden, Compressor Tech

Now Is Not the Time to Limit U.S. Natural Gas Exports

Samantha Gross, Brookings

War in Ukraine: We Need to Talk About Fossil Fuels

Vaclav Smil, IEEE Spectrum

Multimedia

Why Russian Oil, Gas Is Still Being Shipped to the U.S., and Who's Buying These Products

CNBC Television

CNBC's Lori Ann LaRocco is tracking where supertankers carrying Russian oil and gas are headed, and who's buying.

Global Oil Market Is ‘Going to Look Different’ After Russia-Ukraine War, Strategist Explains

Yahoo Finance

Blue Line Futures Chief Market Strategist Philip Streible joins Yahoo Finance's Brian Cheung to discuss the increase in oil prices and the outlook for the global oil market.

Why Does the U.S. Rely on LNG to Consolidate Its Global Dominance?

VisualPolitik EN

The world has changed. And no, We are not referring to the coronavirus. In this video, we talk about the revolution that the energy sector has experienced over the last decade.

Of Course: Ukraine Conflict Centered Around Gas Pipeline

The Jimmy Dore Show

The Nord Stream pipeline, which was constructed to convey liquid natural gas from Russia to Germany, may run dry if the US government has its way. Suggesting that financial considera...

Ukraine’s Energy Gamble: Can It Unplug From Russia?

The New York Times

As Ukraine braces for an all-out conflict with Russia, it’s testing its ability to disconnect from Russian power supplies for three days, starting Feb. 24. Experts warn the timing co...

Biden’s Climate Adviser Kerry Is a ‘Clueless, Heartless Moron’ Over Ukraine Comments

Sky News Australia

Sky News host Paul Murray says former Secretary of State John Kerry remarking he hoped the Russia-Ukraine war won’t distract from climate change was a “stupid take.” 

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