Gretchen Randall

IEA sees a potential reprieve for soaring oil prices as U.S. ramps up production

by Sam Meredith
CNBC

“‘Contrary to hopes expressed in Glasgow at COP26 this is not because demand is declining, but rather due to rising oil supplies.’  Demand for oil is also strengthening because of robust gasoline consumption and increasing international travel as more countries re-open their borders, the influential energy agency said,” according to CNBC.

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Biden’s Baffling Oil Policy Faces Backlash From All Sides

by Irina Slav
Oil Price

“President Joe Biden and his administration hardly planned for everything that happened this year. In fairness, no administration could have planned for it: soaring oil and gas demand, tight supply, rising prices fueling inflation that has quickly gone from nothing to worry about to the biggest worry for many,” according to Oil Price.

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The COP26 conference set a record for CO2 emissions, with air travel the main culprit

by Emma Newburger
CNBC

“The event is set be the most carbon-intensive UN climate conference yet. The 2019 COP25 in Madrid, by comparison, emitted an estimated 51,101 tons of carbon dioxide and the 2015 COP21 in Paris emitted an estimated 43,000 tons of carbon dioxide,” according to CNBC.  It’s a clear example of “rules for thee, not for me.”

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Biden to propose 20-year new drilling ban near sacred tribal site in New Mexico

by Rachel Frazin
The Hill

The Interior Department said Monday that it will propose making lands surrounding Chaco Canyon, which itself is already protected as a National Historical Park, ineligible for new oil and gas leasing or new mining claims.   The move, which the administration described as creating a 10-mile buffer around the park, will not impact existing leases and claims,” according to The Hill.

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U.S. Households Face Biggest Surge in Electricity Costs Since 2009

by Josh Saul
Yahoo Finance

“The price of electricity in October increased 6.5% from the same month a year ago while consumer expenses paid to utilities for gas went up 28%, according to numbers released Wednesday by the U.S. Bureau of Labor Statistics. Fuel oil rose 59%, and costs for propane, kerosene and firewood jumped by about 35%, the data show,” according to Yahoo Finance.

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Pitfalls of Energy Transition on Full Display in Europe

by Matthew Kandrach
Real Clear Energy

“Worse still, Europe’s energy crisis appears to be largely self-made. The European rush to renewable power and determination to shutter fossil fuel capacity and investment in new production has come home to roost. By starving investment in new natural gas production and closing much of its coal fleet, European consumers have been left with few options and soaring energy prices before the idealized grid and energy systems of the future exist. In other words, energy reality has caught up with pie-in-the-sky aspiration,” according to Real Clear Energy.

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Congress feeds nuclear industry billions to support new reactors and existing fleet

byJeremy Beagin
The Washington Examiner

“The nuclear industry just got a significant boon from Congress with the passage of the bipartisan infrastructure bill, which devotes nearly $8.5 billion to fund advanced reactor development and support the nation’s economically compromised plants,” according to The Washington Examiner.

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Biden Banking Nominee Wants To ‘Starve’ Companies That Invest in Oil and Gas

by Chuck Ross
The Washington Free Beacon

“Saule Omarova, who received the Lenin Personal Academic Scholarship at Moscow State University, has proposed establishing a National Investment Authority to divert investments away from the oil and gas industry and into ‘clean and green’ infrastructure projects. Speaking at a virtual forum in May, Omarova said ‘the way we basically get rid of those carbon financiers is we starve them of their sources of capital,’” according to The Washington Free Beacon.

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Politicians must stop lying about the cost of climate change

by Alan Kohler
The New Daily

“The United Nations Framework Convention on Climate Change (UNFCCC) has been plugging away since 1995, and the only declines in greenhouse gas emissions over that time have been during recessions, oil shocks and the collapse of the Soviet Union – nothing to do with the COP(out)s,” according to The New Daily.

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