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3/15/2022

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

Cheniere Says New LNG Sold Out Into 2040s: CERAWeek Update

Yahoo Finance

Don’t Drag Banks Into the Culture Wars

The Editors, Bloomberg

Why Does Russia Want to Block Ukraine From Joining Nato?

Joe Sommerlad, Independent

Saudi Arabia Reaffirms Commitment to Russia Despite War in Ukraine

Simon Watkins, Oil Price

Biden Slams 'Putin's Price Hike' as High Gas Prices Add to Democrats' Woes

Stephen Collinson, CNN

Europe Turns to South Africa for Coal as It Shuns Russia

Tsvetana Paraskova, Oil Price

Radiation Expert: Ukraine War Could Pose Greater Nuclear Threat Than Chernobyl

Renee Ghert-Zand, The Times Of Israel

Ukraine and the Great Energy Reset

Mark P. Mills, City Journal

Today's Flashback: Putin's Other American Propaganda Effort: Anti-Fracking News  

Stephen Colbert Roasted for Saying He’d Pay $15 for Gas Because He Drives a Tesla

Ariel Zilber, New York Post

Schumer Pushes for Ongoing Funding for Indian Point Communities After NY Plant Shutdown

Thomas C. Zambito, Lohud.com

Oil Industry Contemplates World Without Russian Crude

Joe Wallace, The Wall Street Journal

Saudi, UAE Leaders Declined Calls With Biden Amid Ukraine Conflict: Report

Lexi Lonas, The Hill

Soaring Nickel Prices Could Be the Next Major Headache for Electric Cars

Anna Cooban, CNN

Russia Warns of $300 Oil, Threatens to Cut Off European Gas If West Bans Energy Imports

Sam Meredith, CNBC

Multimedia

It Would Take Two Years to Supply U.S. LNG to Europe: Tellurian Executive Chairman

CNBC Television

Charif Souki, Tellurian executive chairman, and CNBC's Brian Sullivan join 'Power Lunch' from CERAWeek to discuss how fast U.S. LNG shipments could arrive in Europe, Europe's relianc...

Jim Jordan: Democrats Want $7 Gas

Fox News

Rep. Jim Jordan, R-Ohio, slams President Biden for not standing up to Democrats on increasing U.S. energy production.

Biden Announces Ban on Russian Oil Imports

CBS News

President Biden on Tuesday announced a U.S. ban on Russian oil and gas imports over the country’s invasion of Ukraine. "Russian oil will no longer be accepted in U.S. ports, and the ...

Sen. Manchin Courageously Stepping Up Once Again to Lead Dems on This

Fox Business

Sen. Roger Marshall, R-Kan., on banning Russian oil imports.   

America at Risk for ‘Worst Energy Crisis’ Since 70s, Author Warns

Fox News

Environmental Progress president Michael Shellenberger discusses the energy crisis the U.S. is headed towards on ‘Jesse Watters Primetime.’

TODAY'S FLASHBACK: Obama Promises Skyrocketing Energy Costs

House Republicans

Obama Promises Skyrocketing Energy Costs under his Cap and Tax Program.

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