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6/7/2022

Energy Realism this past week on a fascinating back and forth with a global energy leader, and we focused on finding real solutions to climate and poverty. No more pie in the sky fantasies pushing green energy and ignoring physics and higher costs. 

Let us start with our own RealClearEnergy’s Q&A with Dr. Angela Wilkinson, Secretary General of the World Energy Council. This concerns the new World Energy Pulse. The world is reeling from global energy shocks triggered by the convergence of crises: climate change, covid, and conflict. So we asked Dr. Wilkinson seven of what we deem the “world’s most important energy questions.” Opinions vary. But we do know that 85% of the global population lives in the still developing nations. Most of them are in Asia and rely heavily on coal. Vijay Jayaraj reports on India’s realistic energy outlook. Coal demand is surging thus domestic production must increase to meet it. This reality might be difficult for rich progressives living in San Francisco or Washington, DC to hear. But the world is far too poor to eliminate such an essential resource like coal. Robert Bryce notes the exact same thing. How could this not be the case? Even here in the U.S., where a fully developed society means that new energy demand is limited, all energy consumption needs have been rebounding as we emerge from the devastation of Covid-19. Robert Hargraves looks at how our global energy crisis is pushing climate concerns farther down the agenda list.  

Yet to be sure, there are sensible ways to manage our carbon footprint. Simone H. Stewart has hope that we can find common ground on the Energy-Climate mission. Perhaps the word itself has become too political: “climate change.” Who knows, maybe we need more “reducing emissions.” Carbon removal seems a good place to start for bipartisanship. Direct air capture, alongside natural carbon sequestration tactics like tree planting, soil health initiatives, and reacting CO2 with minerals to form solid rock. Indeed, Kelsey Grant believes that Republicans can actually win the climate and ESG policy debate by focusing on market solutions. In fact, with the November midterms on the horizon, the GOP has a real shot to gain Independents and even some Democrats that want climate change policy but demand that it is practical and affordable. Too many progressives have long ignored the first part of the Energy-Climate equation. Republicans must pounce on their unrealism. 

And as our Essential Reading this week documents, the entire “climate effects” analysis needs a rethink. Temperature studies do not offer useful projections of deaths and lost hours of work for extreme heat, or deaths due to heat-caused air pollution. The projection of lower global economic output due to projected human-caused climate change is also flawed. There is much work to be done on all fronts. 

In the News

The Global Energy Outlook: RealClearEnergy's Q&A With the World Energy Council

The Editors, RealClearEnergy

Joe Biden's Climate Policy Was Bound to Disappoint

Alex Trembath, City Journal

What’s Next for Climate-Minded Investing?

Adam Aton, E&E News

Where Are Oil Prices Headed?

David Messler, Oil Price

NOPEC Legislation Isn’t the Answer to Lowering Gasoline Prices

Gary Clyde Hufbauer, RealClearEnergy

Permian Oil Producers About to Slow Despite $100 Crude

Crowley et al., World Oil

Permian to the Rescue

Sara Simper, World Pipelines

The U.S. Has Fallen Way Behind on Climate Goals

Justine Calma, The Verge

What Tesla CEO Elon Musk Gets Wrong About ESG, According to Dave Nadig

Grace O'Donnell, Yahoo Finance

Watch Western Sanctions on Russia Boomerang: A Global Energy and Food Crisis in the Making

Tilak Doshi, Forbes

In 'Fossil Future,' Alex Epstein Makes a Moral Case for Fossil Fuels

Suhaas Bhat, Connor Chung, Foreign Policy

Alex Epstein's Fossil Future, Critically Reviewed

Nitish Pahwa, Slate

Did Joe Manchin Block Climate Action to Benefit His Financial Interests?

Chris McGreal, The Guardian

Expect High LNG Prices for Years to Come

Tsvetana Paraskova, Oil Price

Oil Prices Jump After EU Leaders Agree to Ban Most Russian Crude Imports

Weizhen Tan, CNBC

Multimedia

Taking Out the Trash: What We Get Wrong About Recycling

Kite & Key Media

Recycling is essential to protecting the environment, right? Well … it’s complicated. Many of our recycling practices are largely ineffective. And many of the materials it would be m...

Americans Believe in Climate Change, But Are Less Concerned About It -Study Finds

KXAN

More Americans believe in climate change than they did two years ago according to a new study conducted by the Zebra.com. That same study also found that less are concerned about it ...

Ingraham: ESG Movement Is Corporate America’s Thought and Governance Police

Fox News

Liberal globalists are using a classification and ratings system to pressure American companies into adopting progressive practices at every level of operation.

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