Holding Anti-Fossil-Fuel Leaders Responsible For The Global Energy Crisis

We are in a global energy crisis.

As people look for solutions to this crisis, it is crucial that the right people get implicated (leaders of the anti-fossil-fuel movement) and the right people get vindicated (advocates of energy freedom).

Here’s some ammunition. [emphasis, links added]

The causes of Europe’s energy insecurity

• The cause of Europe’s energy insecurity, which has rendered it impotent against Putin, is simple: When you restrict domestic fossil fuel production on the false promise of replacement by unreliable solar and wind, you become dangerously dependent on foreign production.
• Europe’s vulnerability to Russia was completely preventable. Europe and its allies have all the natural gas, coal, and uranium they need to produce low-cost, reliable heat and electricity for generations to come. But anti-fossil fuel and anti-nuclear policies have neutered Europe.
• For the last two decades, Europe has destroyed its ability to produce and import energy from fossil fuels and nuclear—on the promise that unreliable solar and wind could replace them. But after trillions in subsidies, it’s clear that they have failed. 1
• One major cause of Europe’s current energy impotence is its numerous bans on the greatest natural gas-producing technology ever invented: fracking. Fracking has been banned by France, Bulgaria, The Netherlands, Germany, Spain, and the UK. 2
• Another major cause of Europe’s current energy impotence is its opposition to LNG (Liquefied Natural Gas) import terminals—combined with the US’s opposition to export terminals. If not for these, Europe could get a lot of its gas from America—not Russia. 3

The causes of America’s energy crisis

• America is experiencing our worst energy crisis since the 1970s. High oil prices are making driving expensive, while high natural gas prices are making heating and electricity far more expensive—above all in the Northeast, where some ratepayers might see prices more than two times last winter’s. 4

• Here’s a chart of residential natural gas prices over the last several winters from the US Energy Information Administration. Notice the massive spike projected for this winter—meaning record heating bills for many. 5

• Democrats could have ensured far lower oil and gas prices despite global tumult had they, upon taking power in 2019:1) Liberated oil investment, production, and transport.
  2) Liberated natural gas investment, production, and transport.Instead, they systematically strangled oil and gas.
• Is it any wonder that when threatened incessantly by US Democrats and other anti-oil forces, global investment in oil declined dramatically despite growing long-term demand? Between 2011 and 2021, oil/gas exploration investments declined by 50%.Less investment = less supply = higher prices. 6
• Our bountiful natural gas is only useful if it can be transported by pipeline—to where it is needed in the US and to export terminals for shipment abroad. But in recent years we have seen a Democrat-led movement to block pipeline after pipeline—such as these six pipelines. 7

Causes of high oil and gasoline prices

• Skyrocketing oil and gasoline prices are not a failure of the oil industry. They are the total failure of anti-oil politicians, who have artificially restricted the supply of oil with massive restrictions and threats to oil production and transport.
• Contrary to rhetoric by Elizabeth Warren and others, oil, and gasoline prices are not rising “because giant oil companies like Chevron and ExxonMobil enjoy doubling their profits.” If oil companies could control prices they would have done so during often unprofitable 2015-2020. 8
• There is no physical reason the oil industry can’t meet rising demand. The world has hundreds of years’ worth of oil deposits. There is no technical reason the oil industry can’t meet rising demand. It is more capable than ever thanks to amazing technologies like fracking.
• Perhaps the greatest limiter of the supply of oil has been anti-oil politicians’ constant threats to severely restrict or even ban oil production going forward, e.g., when Joe Biden promises “I will end fossil fuel” and then becomes president, oil investors run for the hills. 9
• The cause-and-effect of unnecessarily high oil prices is simple:1. Anti-oil politicians around the world artificially restricted the supply of oil with massive restrictions/threats.2. These restrictions prevented supply from keeping up with demand, and prices went way up.

The causes of America’s electricity crisis

• America’s grid is in decline and about to get far worse due to policies that 1) reward unreliable electricity, 2) prematurely shut down coal plants, 3) criminalize nuclear, and 4) force electric vehicle use.
• The root cause of our grid’s reliability problems is simple: America is shutting down too many reliable power plants—plants that can be controlled to produce electricity when needed in the exact quantity needed. And it is attempting to replace them with unreliable solar and wind.
• Nationally, as demand has increased over the last 10 years, we have seen a decline in reliable capacity (gas, coal, oil, nuclear, hydro, and battery storage) by 5%. 10

• Will batteries make unreliable solar/wind reliable? No. Battery storage is expensive and can only provide a given “capacity” (e.g., 1 GW) for a few hours, and only if fully charged. Planned batteries are nowhere near enough to compensate for solar and wind’s unreliability. 11

• Grid-destroying policy: coercing electric vehicle useAt a time when reliable electricity is scarce and about to become far scarcer, the Federal government and certain state governments are trying to force us to use electric vehicles—which would lead to major increases in electricity use at certain times of the day.

Refuting Democrat denials of responsibility for the energy crisis

• For 15+ years Democratic politicians, including Joe Biden, have relentlessly attacked oil investment, oil production, and oil transport—leading to higher prices and lower security.Instead of taking credit for their “success,” they are denying that they are anti-fossil fuels! 12

• The “business decisions” denial tacticFor 15+ years Democratic politicians have pushed everything they can to threaten new oil production: net-zero, ESG, proposed bans, etc.Now they are blaming companies for “business decisions” to refrain from threatened oil production! 13

• The “windfall profits” denial tacticFor 15+ years Democratic politicians have done everything they can to make new oil production unprofitable—leading to less investment.Now they are condemning companies for not investing enough “windfall profits”! 14

• The “9,000 leases” denial tacticFor 15+ years Dem politicians have driven up oil prices by delaying/destroying countless, economically viable oil projects.To deny responsibility they are attacking companies for not developing 9,000 leases the companies judge to be economically nonviable. 15

• The energy crisis is simple.Politicians around the world, including US Democrats, have restricted fossil fuel investment/production/transport on the false promise of replacement by unreliable solar/wind.The result: higher prices and lower security.

  Anti-fossil fuel politicians, please stop the denial.

Alex Epstein is an energy expert bringing clarity to energy, environmental, and climate issues. He is the author of the NYT bestseller The Moral Case for Fossil Fuels, and his latest Fossil Future.

Read the full post at Energy Talking Points