Biden to Coal States: Drop Dead

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Unleash Prosperity Hotline
Issue #1022
05/20/2024
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1) Biden to Coal States: Drop Dead
Here’s a headline from Friday that got mostly overlooked, but will have a devastating effect on America’s energy security:

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The plan would remove millions of acres of rich coal lands from development in states like Wyoming and Montana.

There is so much that is anti-America about this ruling that it is hard to know where to begin. How about starting with the fact that the United States has at least 500 years of coal reserves? There is probably no place on the earth with more known reserves than the U.S.

Then there is the reality that over 35% of the world’s electricity comes from coal. It’s not a question of whether the world will use coal, it’s a question of where the coal will come from.

As the figure below shows, the world’s largest polluter, China, is all in on coal. They aren’t transitioning away from coal. They are transitioning toward it with dozens of new plants under construction as we speak. No doubt Xi and the rest of the communists in Beijing are celebrating that Biden is going to make China the coal capital of the world.

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Why is Biden doing something so contrary to America’s security and economic interests? News reports tell us that Biden’s war on coal is an attempt to win back “climate-focused” young voters who are trending toward Trump.

As a reminder, America produces clean coal. Below we show that emissions are way down in America in no small part because of far fewer emissions from modern coal plants.

So Biden is willing to make global pollution levels worse, put at risk American energy security and mining jobs, and empower/enrich our greatest adversary in China – all a cynical ploy to win votes? Can you think of anything LESS patriotic?

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2) Chart of the Day – Who’s the Cleanest of Them All?
Our friend Vance Ginn , who served as chief economist at the Office of Management and Budget under President Trump, tipped us that the EPA has updated its long-term data comparisons through 2022. The EPA reports that over the past 42 years from 1980 to 2022, carbon dioxide emissions are up slightly - by 7%.

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But per unit of GDP since 1980 carbon dioxide emissions are down by about 80 percent. Per-person emissions are down by more than 50%. And as we've noted many times before on these pages, even with a near tripling of the U.S. economy, our levels of all the real pollutants are all DOWN by more than 60%.

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This means the more America produces relative to the rest of the world, and the less China produces, the better for the ecology of the planet.

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3) Meanwhile, New Dutch Government Ditching Climate Craziness
While America is speeding ahead toward a Net Zero climate change cliff (see above), many other nations are turning against Nanny State energy policies.

Take the Netherlands, whose 18 million people form perhaps the most educated and globalized electorate in the world. The Dutch swung to the right in elections a few months ago and the new government is scrapping green EU diktats.

Britain’s Daily Telegraph summarizes:

Electric car subsidies will be scrapped, while heat pumps will no longer be mandatory. 'Red diesel' a type of fuel used by farmers will be brought back, and restrictions on agriculture will be eased.

On energy, the Netherlands will switch to nuclear power, starting work on four new reactors, alongside encouraging fresh development of offshore gas production.

It will cut taxes for businesses, including a levy on share buybacks, while plans for a rise in the carbon tax will be cancelled.”


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It’s sad and scary that we now have a government in Washington that is to the left of many European nations on environmental Marxism.

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4) Ethanol for Planes?
Corn-based ethanol has for decades been subsidized by taxpayers – in part because Iowa holds the first presidential caucuses, and candidates of both parties pledge allegiance to the alternative fuel.

Today, 98 percent of U.S. gasoline contains some ethanol.

Corn growers have justified the subsidies they’ve gotten since the 1970s on claims that they would reduce U.S. dependence on foreign oil and help the environment. But now, the left wants to ban gas cars.

So now, what are we going to do with all that corn?

The Biden wiz kids have come up with a plan to fuel planes with ethanol. They want to make ethanol used for aviation eligible for generous federal tax credits. Planes are the one transportation mode that can’t practically operate on electric power. The Biden administration is hell-bent on producing 3 billion gallons of sustainable aviation fuel annually by 2030 and 35 billion gallons by 2050.

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But how is this for irony? The same Biden administration that has shut down oil and gas pipelines across the country now wants to build 3,300 miles of pipelines crisscrossing Iowa, which would draw carbon dioxide from the factories that turn the state’s corn into ethanol and store it underground. But underground carbon sequestration is so energy intensive and may require more fossil fuels.

Of course, sustainable aviation fuel — made from waste oils, animal fats, and ethanol — will cost consumers. Virgin Atlantic calculates that the current U.K. mandate of a 10% ethanol blend on flights from Britain will raise the cost of a round-trip ticket to London by more than $50 and as the blending mandates get stricter, prices will rise even faster.

Wouldn’t it make more sense to just let the free market decide what energy sources we use?

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5) Quote of the Day – Chicago Shakedown
The CTU is flexing its political muscle ahead of contract negotiations that begin in June. Teachers have asked for 9% annual raises, housing assistance for teachers and families, and pension divestment from funds contributing to climate change. CTU President Stacy Davis Gates says the union wants “$50 billion and three cents.” When pressed on where the money would come from, Ms. Gates said “stop asking that question. Ask another question.”

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6) Even Orwell Would Be Aghast

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