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8/2/2022

Energy Realism this past week looked at Western energy and climate hypocrisy and the real fuels required to stop Putin’s agression. 

The great Robert Bryce got the week off and running: Texas wind power is simply not performing as advocates promised that it would. As temperatures have been soaring above 100 degrees, we’re talking about single digit capacity factors for wind in the country’s windiest state. By comparison, the nuclear power that greens inexplicably despise usually runs at 90% or higher. Frank Macchiarola & Anne Bradbury realize that renewables are not physically capable of going in alone, so the Biden administration must focus on more domestic production of oil and gas. The ESG obsession, for instance, discourages oil and gas investment by starving the industry of capital. Gabriella Hoffman makes clear: this money war against our most important fuels is the driving force behind spiraling inflation. Instead of playing politics, corporations should revert back to their original mission of creating value in business. 

Tom Magness warns about the litigation obsession on climate: what we need is sound policy. It is important that we take a holistic approach to building resilient infrastructure – one that is well-coordinated and ensures communities around the country can withstand catastrophic weather events. But it goes way beyond our borders. Vijay Jayaraj argues that the greens’ push for climate lawsuits and “only wind, only solar, only electric cars” (i.e., the failed European model) will continue to block human development in Africa, easily the world’s most impoverished region. Western hypocrisy on energy and climate must be blocked at every turn. We witnessed this as the Russian gas embargo has forced European states to suppress their revulsion to coal — a bit like a produce shortage causing vegans to run to steak houses. 

Indeed, the Essential Reading this week comes from Jude Clemente. Analysis of the dangers of CO2 emissions simply must consider the benefits of the energy sources that they result from: the use of fossil fuels. More energy is the foundation of modern life, and fossil fuels, cheaper and more reliable, will remain the basis of global energy supply for decades to come. Westeners need to get over fact before the world can move forward.  

In the News

The Global Nuclear Power Comeback

Christopher Barnard, WSJ

Tesla Locks 80 Miles of Battery Range for $4,500 Ransom

Fred Lambert, Electrek

Renewables Falter, Texas Grid Sees Record Demand

Tsvetana Paraskova, Oil Price

Why Expensive Gasoline Is Here to Stay

Ben Lefebvre, Politico

Green Dreams, Inflationary Realities

Joel Kotkin, Hugo Kruger, Quillette

More ESG Proposals, But Fewer Passed

Hannah Zhang, Institutional Investor

Is There a Way Out of the Energy Crisis?

Jason Hayes, MC

LNG Competition Intensifies on New Russia Supply Cut

Stephen Stapczynski, Bloomberg

Oil Prices Slide, IMF Sees Economy on the Brink

Julianne Geiger, Oil Price

Nuclear Power Plants Struggling to Stay Cool

Gregory Barber, Wired

‘It’s A Scam:’ Repubs Prepare Next Salvo In War On Woke Capital

Michael Ginsberg, Daily Caller

Surging Temps Good for Solar Panels, Right?

Anmar Frangoul, CNBC

John Fetterman’s Evolution on Climate, Fracking, Enviro

Kiley Bense, State Impact

‘Holy S--t:’ Senate Deal Sets Stage for Record Climate Package

Politico

Can the U.S. LNG Industry Live Up to Expectations?

Irina Slav, Oil Price

Multimedia

Oil Selloff Gift to Investors: Eric Nuttall

Financial Post

Eric Nuttall, Senior Portfolio Manager at Ninepoint Partners, talks with Financial Post’s Larysa Harapyn about how the oil sell off is a gift to investors.

Bison's Young: Oil and Gas Stocks Are Very Mispriced

Bloomberg Markets and Finance

Josh Young, Bison Interests CIO, says oil demand will be higher than expected even if Russia resumes providing oil to the European Union. Young told this to Guy Johnson and Kriti Gup...

EQT CEO on the Potential to Scale Up Natural Gas, LNG Exports to Europe and the World

CNBC Television

Toby Rice, CEO of the largest U.S. producer of natural gas, discusses how the industry can help address the European and global energy crisis, and growing demand for U.S. LNG.

Canada May Give Oil, Gas Sector More Time to Meet Emissions Targets

CBC News

Canada's minister of environment and climate change says he is open to extending the deadline for the oil and gas industry to reduce its carbon gas emissions. That doesn’t sit with s...

The Power Hungry Podcast: John Constable

Robert Bryce

John Constable is the director of energy at the Global Warming Policy Foundation, a British public charity. In this episode, Constable (who previously appeared on the podcast on Febr...

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