Does a "Clean Energy" disaster loom off our coasts?

The column closes with:

"Before we rush further into this “renewable energy transformation,” can we first have some realistic, commonsense analysis?"

Spot on!

 

Interesting article and not too surprising.
Nitpick: The home insulation sentence doesn't ring true for me, especially in the north. If the insulating reduces consumption 20%, I doubt folks will heat their homes to 80 in winter instead of the current 68. And with energy prices rising, the fuel savings might not result in much cash savings. Having higher mileage vehicles would've been a better example, with less fuel encouraging more driving.

 

What I missed, and it might be buried in there somewhere, is whether global emissions of CO2 have been reduced, or if CO2 emissions are higher today, than 40 years ago.

To reduce emissions here but increase more over there has no effect on the total.

If the majority of people are governed by governments who do not believe in the "Climate Change" religion of the Democrats in the USA,, they will continue to use the lowest cost method to provide energy. Raising prices in the USA for fossil fuel consumption will not achieve anything but to increase misery in the USA.

 

According to an online source Global Emissions of CO2 were just under 20 billion metric tones in 1984, but after 40 years of the war on fossil fuel in the USA, Global Emissions of CO2 were just over 37 billion metric tones in 1923.

Here is the question, why has not our "News Media" held the Democrats responsible for all the pain and suffering they have caused with absolutely no possibility of achieving their stated goals? Our energy costs have risen which triggered high inflation, crushing the American dream for absolutely no good reason.

When will the American voters come to their senses?

 

1) The United States is currently producing more petroleum than it ever has.

2) Inflation is caused by the Federal Reserve increasing the money supply more than the increase in productivity.

3) The Federal Reserve creates fiat money out of thin air and also monetizes the yearly $2-2.5 trillion budget deficits that the profligate-spending Republicans and Democrats in the U.S. House and the U.S. Senate produce.

 

Price is not determined by supply, or demand, but by the tug of war between the two. If supply is ample for the demand, prices are either stable or declining. If the demand is higher than supply, prices will increase.

If we look at the embedded costs for gasoline, we see crude oil is about 60% of the price, refining is about 20% of the cost, distribution and marketing is about 10% of the cost, and government taxes about 10% of the cost.

Crude oil per barrel price averaged a little over $50.00 per barrel under Mr. Trump, and a little over $70.00 per barrel under Mr. Biden.

Another interesting insight is to consider where oil production would be if USA foreign policy had succeeded in preventing the wars in the Middle East and in Europe, and there had been no war of fossil fuel. In 2019, we were a net exporter of oil, now we are a net importer.

 

"Fresh on the heels of a new U.S. oil production record and establishment of the U.S. as the world’s top liquefied natural gas (LNG) exporter, this week the Energy Information Administration reported that the U.S. exported a record amount of crude oil in 2023.

The U.S. has exported small amounts of crude oil for over 100 years, despite being a net importer of crude oil. Although there was a crude oil export ban in place, some exports were allowed, primarily to Canada. That situation changed in the past decade."

- rest of article at From Ban To Boom: U.S. Set New Oil Export Record In 2023

 

An increase in the money supply beyond the increase in productivity can increase demand(depending on how much money is put aside by savers) relative to prices, thus causing a rise in the general price level.

 

LOL, so when demand, fueled by borrowing, raises prices, that means when supply is hindered, that does not raise prices? Good grief...

 

Another interesting insight is to consider where oil production would be if USA foreign policy had succeeded in preventing the wars in the Middle East and in Europe, and there had been no war of fossil fuel. In 2019, we were a net exporter of oil, now we are a net importer.

 

Increasing the money supply to increase borrowing without a commensurate increase in productivity(such as restricting supply) can result in a general rise in prices(depending on how much money is put aside by savers).

 

"Fresh on the heels of a new U.S. oil production record and establishment of the U.S. as the world’s top liquefied natural gas (LNG) exporter, this week the Energy Information Administration reported that the U.S. exported a record amount of crude oil in 2023.

The U.S. has exported small amounts of crude oil for over 100 years, despite being a net importer of crude oil. Although there was a crude oil export ban in place, some exports were allowed, primarily to Canada. That situation changed in the past decade."

- rest of article at From Ban To Boom: U.S. Set New Oil Export Record In 2023

 

Good grief, the Democrats are responsible for high gas prices, high inflation, high border crossings, and the high loss of life in two unnecessary wars.

 

I wrote about economics, not politics, Van.

And I got news for you and others who seem to be worshippers of Donald Trump, he is not gonna be your political savior. If, unfortunately, he does win in the general election, there will not be a unicorn in every backyard nor a rainbow over every house.

 

Sorry, but I could not make sense of this. If we export a million barrels less than we import, that makes us a net importer.