Defund the climate czars

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DAILY ENERGY NEWS | 07/20/2023

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We love Chip Roy, but this would take away so much material for The Unregulated Podcast. I guess it’s worth it.

Fox News (7/19/23) reports: "A group of more than two dozen House Republicans led by Rep. Chip Roy, R-Texas, is introducing legislation Wednesday to defund climate envoy John Kerry's office at the State Department. The No Taxpayer Funding for Climate Zealots Advancing Radical Schemes Act would prohibit any federal funds — including for salary, administrative, and travel expenses — from being appropriated for Kerry's office. In 2021, President Biden appointed Kerry to be the first-ever special presidential envoy for climate, a position that didn't require Senate approval, and gives him a spot on the president's cabinet and National Security Council. 'Climate czar John Kerry is the poster child for the Biden administration's anti-energy policies that are destroying both our economy and national security,' Roy told Fox News Digital in a statement. 'Now John Kerry is visiting China — the top threat to our national security and the world's number one polluter — to further hamstring energy freedom,' he continued. 'It's time to defund anti-energy climate bureaucrats like John Kerry once and for all.'"

"ESG investments have not only been shown to yield lower returns than traditional investments, but companies in ESG portfolios have also had worse compliance records for both labor and environmental rules."

– Bryce Hill, Illinois Policy Institue

Meanwhile, by the time his private jet landed stateside, China built two more coal plants.

E&E News (7/19/23) reports: "The United States and China ended three days of climate meetings with no concrete outcomes, but have agreed to continue talking ahead of pivotal global climate negotiations this fall. 'We came to Beijing in order to unstick what has been stuck for almost a year, and that’s the in-person dialogue between the United States and China,' U.S. climate envoy John Kerry said during a press conference. 'We had very frank conversations, but we came here to break new ground, which we think is important at this stage, and it is clear that we are going to need a little more work to be able to complete that task, which we still believe, both of us, is doable.' The announcement follows a packed schedule of meetings with senior Chinese officials, as the two sides tried to cool heightened tensions that have prevented in-person climate discussions between the United States and China for almost a year."

You mean the dictator wasn’t dictated by the science?

The "experts" are sure that rolling back the last few centuries of technological advancement will lead to utopia.

Real Clear Energy (7/19/23) op-ed: "The International Energy Agency (IEA) is either woefully economically ignorant or intent on misleading world governments with respect to the so-called net zero energy transition. This much is clear to me, as an economist, after reading the recent report from the RealClearFoundation and the Energy Policy Research Foundation (EPRF) on the IEA’s net zero scenario...Another significant problem is the IEA’s analysis of the labor required to complete the net zero transition. As the authors of the EPRF report astutely point out using the IEA’s own analysis, energy jobs will become less productive during the net zero transition. So-called renewable-energy generation is intermittent and diffuse, meaning that the labor used to build and operate these systems is less useful than that used to build and operate coal, gas, and nuclear power plants. This fact is supported by the analysis of wages conducted by the authors of the EPRF report. The IEA expects world governments to forcibly end the use of coal, natural gas, and nuclear power generation; jobs in these sectors all pay better than those in solar and wind generation. Generally speaking, workers are made better off with improvements in technology that allow them to be more productive. Though not explicitly, the IEA’s report admits that its net zero scenario and the draconian policies needed to get us there will reverse the pro-growth process that has supported improvements in our standard of living worldwide."

Energy Markets

WTI Crude Oil: ↑ $75.70
Natural Gas: ↑ $2.76
Gasoline: ↑ $3.58

Diesel: ↑ $3.87
Heating Oil: ↑ $264.40
Brent Crude Oil: ↑ $79.74
US Rig Count: ↑ 708

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