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10/11/2022

Energy Realism this past week examined Biden’s ongoing failed energy dreams (err, nightmare) and why political favoritism must be rejected by those of us demanding affordable and reliable energy. 

Our Senior Fellow Rupert Darwall gets us started: there is no denying that this is Joe Biden’s energy crisis. The western anti-fossil fuel obsession is handing global energy markets to Russia and China. Contrary to what it claims, this administration is simply not serious about making energy affordable again. That is because high prices for fossil fuels, which supply 80% of our energy, are an intended part of the plan to force “green energy” into the system. David Holt also pushes back too since affordable and reliable energy is essential to American families and businesses. Our country’s energy policy is broken. And we are losing ground to raging inflation caused by supply shortages that the administration refuses to address out of fearing of anger its green-obsessed backers. 

And now, the fixation with renewables demands an absolutely gigantic build-out in transmission to connect windy and sunny spots to the population centers that use the electricity. Robert Bryce interviews Princeton’s Jesse Jenkins. Pie in the sky, Robert is rightfully incredulous that many tens of thousands of new high-voltage transmission miles can get built to surge wind and solar usage in the way that net-zero dreamers demand. Indeed, the collapse of Joe Machin’s permitting reform bill demonstrates that the “we need more wind and solar” mantra is far more politically complicated than advocates care to admit – let alone their problem with physics and natural intermittency. 

And in any event, Benjamin Zycher explains why the endless subsidies to get more wind and solar into the mix is the “institutionalization of irresponsibility.” It really is “the joy of spending other people’s money” that has Democrats forcing renewables into the system. The most dangerous and inefficient type of political favoritism is obsessing over provably more expensive and less reliable energy. And even while observing Yom Kippur, prolific Ben was able to give us another one this week: Biden’s ad hoc use of the Strategic Petroleum Reserve is to artificially lower oil prices to help his party’s chances at the midterms. A “you must vote for me” scorched-Earth strategy that is just now starting to backfire. OPEC+ strongly punched back on the Fist Bumper this week as well.  

Essential Reading

Energy Inflation Was By Design

Joseph Toomey, RealClearEnergy

The West is now facing its most severe energy crisis since the 1970s. It comes from an obsession with climate change policy and forcing seemingly endless amounts of more expensive and less reliable renewables and electric cars into the marketplace.

In the News

Jesse Ausubel, One Of America’s Top Thinkers On Science and Energy, Wins Nierenberg Prize

Robert Bryce, RealClearEnergy

Joe Biden’s Ad Hoc Use of the Strategic Petroleum Reserve

Benjamin Zycher, RealClearEnergy

Europe’s Gas Shortage Could Get Worse

Tsvetana Paraskova, Oil Price

SCOTUS Asks Biden to Weigh in on Climate Lawsuit

William Allison, EID

The Green Energy Scandal Exposed

BBC

Record Gas Prices, Electricity Woes in California

Grace Toohey, LAT

King Charles Should Attend Climate Summit

Marita Moloney, BBC

Harris Comments on Climate Inequity Misrepresented

Melisa Goldin, AP

Florida's Leaders Depending on Climate Aid

Yahoo News

Policies to Help Coal Towns Use Renewables

Alison F. Takemura, Canary Media

COP27 Must Make Climate Action ‘Top Global Priority’

UN

Climate Week a Greenwashing Bonanza

Alejandro De La Garza, Time

Why the U.S. Will Not Ban LNG Exports

Josh Owens, Oil Price

How to Greenwash Like a Pro

Joel Makower, GreenBiz

Nat Gas at $4-$5 Is a Thing of the Past?

Marwa Rashad, Reuters

Multimedia

So What Happens Now That OPEC+ Has Cut Production By 2 Million Barrels a Day?

CNBC Television

Goldman's Damien Courvalin joins Becky Quick and the 'CNBC Special: Markets in motion' to discuss what happens now that OPEC+ has decided to cut oil production by 2 million barrels a...

OPEC Deals Major Blow to Biden Admin

Fox News

FOX Business’ Maria Bartiromo discusses OPEC cutting back on oil production and unpacks what impact this will have on U.S. energy.

Energy Crisis: Europe Will Face More Trouble in the Winters to Come

CNBC International TV

 Kaushal Ramesh of Rystad Energy says he's not expecting a "material increase in LNG supplies all the way until perhaps late 2024 or early 2025."

Energy Crisis Explained: EU Mandates to "Flatten the Curve"

AIER

Europe and other Western nations are facing a very real energy crisis right now. Sanctions have prompted Russia to stop supplying natural gas to Europe, exacerbating the self-inflict...

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