MINOT, N.D. We had a problem even before Vladimir Putin invaded Ukraine.
The political campaign to eliminate fossil-fuels (against funding research and development like carbon capture technology to make them better), has weakened the foundation of our energy grid.
We have manipulated the energy markets to achieve supposedly “green” outcomes in America and Europe. It has caused us great harm.
This constriction of our energy supply lines was already driving up prices, contributing to inflation, and making our energy grids less reliable.
Now war, a tragic and inevitable part of human experience, has further disrupted supply lines. As a way to support Ukraine’s resistance to Putin’s aggression, we are right to act against Russia’s oil & gas interests. But Russia is a major oil & gas supplier, so the economic pain resulting from our actions can be very real.
The fuel prices are on the rise, and other consumer prices will follow.
Putin is one thing. But, at least some pain we have caused ourselves through energy policies dictated by ideology and reality.
Consider the ESG movement, which is “environmental, socio- and governance”, which has infiltrated Wall Street. It has effectively manipulated markets against energy sources like coal and oil.
This movement, which includes money managers at big banks and corporate leaders, presses companies to shut down natural gas and coal plants. They want to stop oil development.
They push their political agenda during shareholder meetings and vote against directors, initiatives and projects that don’t align with it.
Although the proponents of this movement claim they are saving the world through ending oil, gas, and other goal-based energy sources, in reality, they have created a vacuum that has been filled by Putin’s regime.
What are activists actually doing?
Global coal consumption
The number of exajoules per day has increased, not fallen, from 94.9 in 1998 to 157.4 by 2020. In 2006, the world’s oil demand was 85.3 million barrels/day. It will reach 96.5 million barrels/day in 2021, despite the chaos in supply and demand caused by the COVID-19 pandemic.
Global gas consumption has declined since 1990
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Despite the impression politicians and pundits may give, we are not only still using this stuff but we are using it more often than ever before.
The activists have done the world’s despots great favors by stopping the production and usage in countries like North America and Europe.
We have encouraged the production and consumption these energies to countries such as Russia and China. In these countries, political activism is dangerous and the regulation of energy is less prudent than that in North America or Europe.
We have enriched these regimes at our expense.
It’s time for us to stop.
The world has a need for coal, oil, or gas. We should be using ours as long as this is true.