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9/27/2022

Energy Realism this past week looked at the many problems resulting from the anti-fossil fuel business and the need for major permitting change to “make America build again.” 

Our Senior Fellow Rupert Darwall gets us rolling this week by destroying that which must simply go away: ESG. Underinvestment in hydrocarbons and associated infrastructure driven by political, regulatory, and investor pressure  has brought about the greatest threat in decades to energy security, reliability, and affordability, a crisis exploited to the full by Vladimir Putin. While ESG has surely been getting more pushback, the U.S. clearly needs more energy clarity to tackle historic inflation under Biden’s watch. Renewables are definitely becoming more important but they are just part of the solution, not the panacea environmental groups insist that they are. Brigham McCown looks at commonsense permitting reforms to help ensure an “all-of-the-above” energy strategy to reach our affordability, reliability, and climate goals. Quinn Townsend also examines the permitting reform that we need to build more pipelines and power transmission. 

Indeed, the process of political meddling in energy markets seems endless, an eternal truth that will not prove different for the energy provisions of the Inflation Reduction Act. Benjamin Zycher discusses the “adverse taxes” in the IRA that is already leading us off course. True to form, they will reduce the production of conventional energy: the oil, gas, and coal that meet 80% of America’s energy demand. This anti-fossil fuel obsession hurts lower income and the most vulnerable Americans most. Fossil fuels are cheaper and more reliable. Duggan Flanakin looks at the electric car fixation and how it will impact rural America in particular. More expensive and less convenient, these are unproven technologies with unproven supply chains controlled by China. Perhaps worse, the Essential Reading this week then comes from Michael Held and Michael Baumann showing that electric cars cannot be considered “clean” when full life-cycle emissions are considered. There are, still, so many unanswered questions for the “EV revolution.” 

In the News

U.S. Banks Threaten to Leave Mark Carney’s Green Alliance

FT

China’s Russian Gas Imports Jump in First 8 Months

Ji Siqi, SCMP

Tesla Autopilot: First time Using It

Tim Levin, Business Insider

World Bank's Malpass Faces Calls to Resign After Climate Doubts

Reuters

Climate: California to Ban Sales of Diesel Trucks

Louis Casiano, Fox Business

Failing to Invest in Oil, Gas the “Road to Hell For America”

Irina Slav, Oil Price

Alaskan Residents Receive Over $3000 in Oil Dividends

Charles Kennedy, Oil Price

China's Crude Oil Demand Rebounds, Refiners to Ramp Up

Reuters

Must See: Rashida Tlaib Challenges Bank CEOs on Climate

Tom Elliot

Why Solar ‘Tripping’ Is a Grid Threat for Renewables

Miranda Willson, E&E News

Coal Rush! Energy Crisis Fires Global Hunt for Coal

Reuters

Powering China’s Nuclear Ambitions

Genevieve Donnellon-May, The Diplomat

News 4 Investigates: Solar Overpromising, Under-Delivering

Lauren Trager, KMOV4

45,000 Fords Can't Be Sold Because They're Missing Parts

Chris Isidore, CNN

Environmentalism Is a Fundamentalist Religion

Joel Kotkin, Newsweek

Multimedia

Eric Nuttall: Oil Facing "Epic" Volatility, How to Break Through the Noise

Investing News

The great Eric Nuttall says: remain bullish on oil. 

Europe's Troubles Could Get Worse as U.S. Braces for a Natural Gas Shortage

Firstpost

The United States of America made big promises to Europe. President Joe Biden assured the European Union that America will fulfil the continent’s energy needs. And Washington has bee...

Will a Shift to LNG Save Germany From Running Out of Gas?

DW News

Gas storage facilities in Germany are more than 90% full, according to data released by the Aggregated Gas Storage Inventory (AGSI), a European energy data platform. The German gover...

Capitalism Is Destroying Us - The New Climate Report

Second Thought

It's never good to hear the words "total societal collapse" from a scholarly paper, but that's exactly the phrasing used in the new UN climate report. We all know it's bad, but what'...

Asking Tesla Owners What They Do for a Living

Charlie Chang

In this video, I ask Tesla owners at a supercharging station a bunch of questions like what they do for a living, how much they make, why they bought a Tesla, and a bunch of other sp...

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