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DAILY ENERGY NEWS | 08/16/2022
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** The most important climate bill in world history does how much for climate change mitigation?
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Real Clear Energy ([link removed]) (8/15/22) op-ed: "Always good for a laugh, the New York Times opinion page has few peers as a dependable repository of supreme silliness. Day after day, year after year: It delivers ignorance of basic facts, bad analysis, endless non sequiturs, dishonesty by omission. All of that and more (or less) for a very reasonable price; it truly is the gift that keeps on giving. And the editors have succeeded in their never-ending quest to reach new depths: Bill Gates informed us recently that The Inflation Reduction Act of 2022 (IRA) 'may be the single most important piece of climate legislation in American history.' That, of course, is damnation with faint praise, as Congress for decades steadfastly has refused to enact 'climate legislation'— measures yielding an actual reduction in greenhouse gas emissions — for the obvious reason that any such laws would increase energy costs dramatically, an
impact that would not prove salutary for the political prospects of politicians voting for it. Instead, efforts to force massive dislocations in U.S. energy markets for the most part have taken the form of regulatory maneuvers and litigation both deeply dubious and dishonest, that is, paths that decidedly shunt aside the consent of the governed...Moreover, while applauding the asserted reductions in GHG emissions to be engendered by the IRA, Gates fails to mention the benefits of increasing atmospheric concentrations of GHG, as reported by the National Oceanic and Atmospheric Administration and in the peer-reviewed literature. Examples are planetary greening, increased agricultural productivity, increased water use efficiency by plants, and reduced net mortality from cold and heat. Do the potential adverse effects of anthropogenic warming outweigh the benefits? That is hotly (!) debated. And, Gates, supposedly a smart businessman, also neglected to tell us what effect the IRA — 'the single
most important piece of climate legislation in American history' — would have on future climate phenomena. So let us do that for him, using the Environmental Protection Agency climate model. The U.S. GHG emissions reduction claimed by the proponents of the IRA is 40 percent (below 2005 levels) by 2030, a deeply problematic assertion for reasons that I ignore here. The temperature effect by 2100: 0.044°C. Because the standard deviation of the surface temperature record is 0.11°C, that effect that would not be detectable. "
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** "The president’s civil war on gas, oil and coal has victimized you—unless, perhaps, you are a Silicon Valley or Wall Street plutocrat who drives an electric car."
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– Derrick Morgan, The Heritage Foundation ([link removed])
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Bad day at BlackRock.
** Wall Street Journal ([link removed])
(8/15/22) editorial: "Our legendary editor Robert Bartley used to quip that it takes at least 65 editorials on a subject to really have an impact. We know what he meant after laboring in the vineyards lo these many years to draw attention in editorials to the politicized investing that travels under the bland label ESG, for environmental, social and governance. Recent events show that the backlash against ESG investing has finally arrived. Nearby, Arizona Attorney General Mark Brnovich explains how he and 18 other state AGs are seeking answers from the investing giant BlackRock about its political agenda. BlackRock—a titan of passive investment funds—has been a leader in impressing ESG standards on the corporations it invests in. The letter is significant politically and financially. These AGs represent states with public pension funds that invest in BlackRock and other funds on behalf of state employees. The states need to know they are getting the best financial returns possible in the
market to meet their commitments to retirees. The ESG movement has infiltrated investment standards with little scrutiny for several years, led by BlackRock CEO Larry Fink. Former BlackRock executives such as White House economic policy chief Brian Deese also have influence in the Biden Administration."
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Why are the Dems so scared to talk about climate?
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Remember: Don't drink and do climate policy.
** The Telegraph ([link removed])
(3/1/22) reports: "Nicola Sturgeon could embark on a new green crackdown of Scotland’s whisky industry, over fears that emissions from the 'angel’s share' of casks is harming the environment and human health. Every year, around two per cent of whisky, the so-called “angel’s share” because it evaporates during the maturation process, is lost during its production. But SNP and Green ministers are concerned that the emissions could be having a detrimental impact on the environment and health, and want to find out whether action should be taken to reduce the damage. It is funding a review of the harm caused by the non-methane volatile organic compounds (NMVOC) that arise from malt whisky maturation, which have surged over recent years due to the rising international popularity of Scotland’s national drink. Researchers have been asked to suggest possible “mitigation strategies” for “controlling” whisky-related emissions, leading to a backlash from the industry. 'Some loss of spirit from casks
during maturation is a natural part of the whisky-making process,' a spokesman for the Scotch Whisky Association said. 'Losses of ethanol average around two per cent per year and, as the Scottish Government has previously stated, is neither harmful to health nor impactful on the environment due to its rapid dispersal.'"
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