Energy Realism this past week discussed the fact that, to reach their energy dreams, greens seemingly do not realize that we need a mining revolution. The purported dual climate panacea of electric cars and renewables may glitter for the elite but is hardly gold for the rest of us. Larry Behrens gets us started this week: the Super Bowl’s obsession with electric car ads will not translate into huge sales as easily as some are claiming. Electric cars are simply too expensive and too inconvenient to be as desired as advertised. While surely growing in numbers, EVs are light years away from “taking over the market.” Remember that EVs already lost the transportation race to the far more powerful oil-based internal combustion engine: EVs accounted for 40% of the U.S. automobile fleet in 1900. And no matter what, the amount of raw materials needed to build out EVs, solar panels, wind farms, charging stations, batteries, and the like is enormous. EVs require six times the critical minerals that oil cars require. Jessica Smith et al. discuss the mining revolution we need for more EVs and renewable power technologies, making sure that everybody benefits from that we be a Herculean challenge too. Shubham Dwivedi & Gregory D. Wischer agree: unless we act, U.S. semiconductor supply chains will still rely on minerals controlled by Chinese companies. Washington must do more to rectify this situation, and it can start now by passing legislation that creates favorable conditions for U.S. critical mineral projects. Inexplicably, the climate-obsessed Biden administration continues to block them. Indeed, Spider Marks demands a Marshall Plan for Western energy security. While the U.S. has led the global effort to support Ukraine with weapon systems funding, we can do more to secure all of Europe’s future—especially when it comes to the energy sector. Just as the Marshall Plan rebuilt Western Europe after World War II, the U.S. should establish a similar initiative, focused on rebuilding Europe’s energy sector by encouraging domestic investments in energy exports. And as Duggan Flanakin points out, this, of course, must center on the realization that fossil fuels will remain integral for decades to come. Our Essential Reading this week then comes from Texans for Natural Gas. Supporting natural gas is supporting affordable, clean, and reliable energy – a must for communities of color and those that are less well off. With a net worth of over $250 million, we should stop listening to the private jet-setting John Kerries of the world. In the News Rich Lowry, National Review Victoria Waldersee, Reuters Julia Musto, Fox Business Tammy Nemeth, Financial Post Dennis Higgins, The Daily Star Lucas Davis, Energy Institute at Haas Business Today Tilak Doshi, Forbes Forbes FT Future Planet Robert Bryce Michael McKenna, WT Heather Hamilton, Washington Examiner Katherine Blunt, WSJ Fox News Former President Donald Trump visits East Palestine, Ohio to donate water and supplies. Peter Carter As the global climate change emergency rapidly deteriorates, the escalating war in Ukraine increases fossil fuel use and precludes any chance of nations cooperating to put global emi... BNN Bloomberg Roger McKnight, chief petroleum analyst at En-Pro International, joins BNN Bloomberg to give his gasoline price outlook for the week ahead. McKnight noted that 'over the short term p... CNBC Television Goldman Sachs’ Daan Struyven joins Morgan Brennan and the ‘CNBC Special: Taking Stock’ to discuss what China’s reopening could mean to demand for oil and petroleum products. Al Jazeera European countries have been working to reduce their dependence on Russian energy since it invaded Ukraine a year ago. And with Qatar being the world’s largest exporter of liquefied ... |