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11/8/2022

Energy Realism this past week discussed the intrinsic value of oil, which is the most important and irreplaceable fuel in the world, and why anti-oil policies are the core of our energy crisis and rampant inflation. 

Daniel Turner gets us started by analyzing Joseph Toomey’s recent RealClearEnergy report: Energy Inflation By Design. When Americans suffer enough, when the pain threshold is reached, they will cry out for relief – and then the green transition can truly begin. Such absurd ideas coming from the Biden administration seem without end. Earl Matthews looks at the truly horrific idea of banning U.S. oil exports. Those of us who understand how global energy markets actually work understand just how misguided the Democrats are on this. Oil is sold on an international market, and banning exports will de-incentivize new oil production. Not only would such a ban backfire and cause gasoline prices to increase for American drivers, but it would also alienate our global allies and undermine U.S. national security. 

But, this was the plan from the beginning right? President Biden already said that we must “transition” away from oil, even though that is totally impractical since oil has no significant substitute whatsoever. Robert Bryce examines such unrealism coming from the administration and its supporters. The fact is that if oil never existed, we would have had to invent it. Fracking today accounts for 90% of U.S. oil and gas production. The sine qua non of U.S. energy production, without it, there is none. This probably explains why Democratic John Fetterman has been forced to flip flop on his non-support, err support, of fracking in Pennsylvania, our second most important fracking state. Larry Behrens argues that such an “America last” policy should hopefully cost Fetterman the election. Indeed, the Essential Reading this week clearly explains why those who portend to want to “fight climate change” should actually be fracking’s biggest supporters. 

In the News

Massachusetts Wind Power Project ‘No Longer Viable’

Emma Newburger, CNBC

America’s Offshore Wind Farms Face Headwinds

QCaptain

Biden Challenged By Where to Make EV Chargers

Lillianna Byington, Bloomberg Government

How OPEC Outplayed Biden

Robert Rapier, Oil Price

Greta Thunberg Goes Anti-Capitalist Left

Nicholas Harris, UnHerd

John Kerry to Leave Biden Administration

Hans Nichols, Axios

Indonesia Considers Opec-Style Cartel for Battery Metals

FT

OPEC Forecasts Fossil Fuel Surge Through Midcentury

Sharon Udasin, The Hill

Plastic Recycling Remains a 'Myth': Greenpeace Study

Issam Ahmed, Phys.org

Biden’s Abuse of SPR to Win Votes

Alex Epstein

Oil Prices Rise as Bullish Sentiment Builds

Irina Slav, Oil Price

Eversource: New England Might Not Have Enough Winter Gas

WCVB5

Goldman Expects Euro Gas Prices to DROP 30%

Silvia Amaro, CNBC

Elon Has Pulled 50 Tesla Employees Into His Twitter Takeover

Lora Kolodny, CNBC

Greta Thunberg: "Overthrow Of Whole Capitalist System

Tyler Durden, Zero Hedge

Multimedia

Greta Thunberg on How to Tackle Climate Anxiety

The One Show

Lauren Laverne and Jermaine Jenas are joined by Greta Thunberg to chat about climate anxiety, her new book, The Climate Book, and crocheted frog hats. 

What Are the Topics to Watch at COP27?

Reuters

Next week's U.N. climate conference has much to discuss — from financing the transition to clean energy to protecting the world's forests and future-proofing its cities. But some eff...

OPEC Releases 2022 World Oil Outlook

CBS News

OPEC estimates show that the world markets could demand more oil for the next decade, despite a push toward renewable energy and electric cars. Tom Kloza, global head of energy analy...

Slacktivist Investing: How Corporate Activism Goes Wrong

Kite & Key Media

Today, many major corporations spend just as much time telling you about the good they do in the world as they do pitching you products. Which sounds great, but … are these “ethical”...

Michael Wilkerson Calls Out Biden Admin's Energy 'Utopian Dream'

Fox Business

StormWall Advisors founder and former Lazard managing partner Michael Wilkerson says the Biden administration has created 'an impossibly high hurdle' to attain energy security.

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