THE LEFT IS ABOUT TO PAY FOR THEIR ENERGY INSANITY:
By promoting so-called Environmental, Social and Governance, or ESG, investment standards to choke off fossil fuel investments, by canceling pipelines, and by limiting federal oil and gas leasing, the left has reduced American energy production and left America vulnerable to the rest of the world. All this has come with very little emissions benefit to boot. It has just enabled Russia, Saudi Arabia and others to displace American fossil fuel production with their own foreign fossil fuel production. The result? From Biden’s inauguration to the onset of the war in Ukraine — before the much-discussed “Putin price spike,” in other words — American gas prices went up nearly 50%. Those prices are up another 15% on top of that since the war began.
There have been huge technological strides in solar, wind and other renewable power sources, but primarily due to their intermittent nature and a still-huge gap in energy storage (battery) technology, those forms of energy are not yet ready to make up for lost fossil fuel production without massive extra cost.
Giving away a huge economic and national security advantage is political malpractice. Slowing American energy production while begging the Saudis to increase their own fossil fuel production, as Biden is doing this week, is a botch so foreseeable it should be disqualifying for future leadership. Energy policy under the Biden administration has been insane. With prices booming, everyone now knows it. Those who got us in this mess should prepare to pay a massive political price.