| Pat H - 11/16/2023 09:33
You're right. The current policy is fully against oil. Media finds/pays 12 people to stage a "end oil" protest. It is what it is.
Stories like this may be accurate, but are misdirection. As said, we would be producing more by now with different policy. Oil policy has not changed.
Just a side note, if we had favorable oil policy and continued to produce more and export, would the middle east be less of a player on all fronts? Giving those folks money doesn't seem to end well.
Bush Sr builds coalition to kick Saddam out of Kuwait.. bring stability to the middle East
Clinton.. works for awhile.. talks about paying off the national debt..
W Bush goes into Iraq to remove Saddam under policy for importing cheap oil (while not acknowledging policy)
Obama promises “change” builds a coalition with Environmentalists to get off Oil.. BP Macondo gulf blowout occurs.. doubles down on getting off oil.. Cancels Keystone XL pipeline.
Trump builds coalition with labor to “bring back jobs”.. MAGA.. renews Keystone XL.
Biden.. returns to Obama.. policies.. and people running them.. California pledges to stop sales of internal combustion engines by 2035. “MAGA will pass”
https://www.realclearenergy.org/articles/2023/11/15/climate_enron_may_be_heading_for_a_crash_992758.html
A bit like FTX, but unlike Enron, there are plenty of warning signs that the “Green Revolution” is about to come tumbling down and its loudest advocates brought to account. The main thing keeping the mirages afloat today is the massive egos and their investments in folly that may leave them going down with the ship.
While the “Green Revolution” has been under way for decades, it is the Biden Administration that has imposed mandates, attacked popular energy sources and transportation options, and waged war against traditional industrial development. Europeans and states like California had earlier imposed their own mandates with supposedly “hard” deadlines for abolishing the use of oil, natural gas, coal, and every tool or vehicle that uses them.
The green war on fossil fuels, as fleshed out in the “Net Zero” campaign, is perhaps history’s greatest example of philosophical fraud.
“To dream the impossible dream” and turn it into reality would mean sacrificing an estimated 6,000 useful products that rely on byproducts from crude oil refineries – products that range from asphalt for highways to fertilizers, cosmetics, synthetic rubber, medicines and medical devices, cleaning products, plastics, so many more. The 3 billion who live without the benefits fossil fuels have provided are also the poorest, sickest, and most vulnerable humans on the planet.
Cracks are already developing in the “Net Zero” world, what with countries backing away from the mandates they so recently touted while marching around like peacocks in mating season. In March the European Union reached an agreement with Germany to formally back away from its total ban on internal combustion engines in 2035.
Still, 30 countries are signatories to the Glasgow Declaration that would force all vehicles sold by 2040 to have zero carbon dioxide emissions, and 21 others have crafted plans to ban new ICE vehicle sales earlier than 2040. Dozens of major cities and states, most notably California and the California clone states, intend to disallow new ICE vehicles by 2035.
Several problems stand in the way of their utopian dream. Even EV advocates are now admitting the “EV-olution” has to overcome “serious issues” - like the use of child labor in lithium mining, the woefully inadequate EV charging infrastructure, and an unprepared power grid. Yet the biggest obstacle is that a majority of the Earth’s people object to having EVs – or heat pumps, or electric stoves, and so on -- shoved down their throats.
EVs may be fine for short-trip urban travel but not for construction equipment, airplanes, or even urban buses, as evidenced by the recent horrific scene in San Francisco when a Google-operated electric bus lost power and slid backwards downhill into nine vehicles. Today’s EVs are wholly impractical for mountain and prairie residents or others making long trips (worse with children).
Like Ken Lay with Enron, the Green revolution has relied heavily on government subsidies and a “revolution always” business philosophy aimed at making pariahs of anyone who dares oppose the grandiose – but fatally flawed – plan.
During the Obama Administration, Solyndra went under despite a $535 million government-guaranteed loan, none of which was paid back. Forbes, citing OpenTheBooks.com, noted that taxpayers were left holding the notes for $400 million given to Abound Solar, $280 million wasted by CaliSolar, $193 million doled out to Fisker Automotive (with another $336 million canceled), and $132 million to A123 Systems (a failed battery maker).
Undaunted, the Biden Administration’s $2.3 trillion “jobs” package was rife with more subsidies for technologies that by their own admission are unsustainable. Yet despite all the free money, Ford, General Motors, and many other automakers are backing away from multibillion-dollar investments in new EV factories as new EV sales have slowed despite increased rebates.
Ford in March projected a loss of $3 billion on electric vehicles in 2023, offsetting profits of as much as $14 billion from its other divisions. Ford also admitted losses of $900 million in 2021 and $2.1 billion in 2022 in its EV division. Ford and GM believe their EV fortunes will turn around by 2025, but those rosy scenarios seem wholly dependent upon Biden (or an even “greener” Democrat) winning the White House next November.
Even with a Green win in 2024, reality will still bite the EV dream. China has been quietly moving toward total dominance in the global EV marketplace – largely because it controls the lithium battery market. Financial Times wrote in September that China is so far ahead in the EV market that its competitors are trailing in the dust.
Biden’s reliance on huge subsidies to underwrite the “Green Revolution” has brought soaring inflation to the U.S. that is taking away purchasing power faster than it can increase subsidies and Mafia-style “incentives” (you will buy what we want you to buy, or else!).
Lay died of a heart attack shortly after his trial, leaving behind “a legacy of shame” characterized by “mismanagement and dishonesty” that led Politico to rank him as the third-worst American CEO of all time.
America’s doddering President Biden, now facing pre-impeachment hearings for other alleged mistakes, may not live to see his name smeared as Lay’s once was. But does anyone truly believe Biden is calling all the shots here?
Edited by JonSCKs 11/16/2023 09:53
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US breaks Domestic crude oil Production record under Biden beating Trump
