Category Archives: energy

Drilling and Restrictions

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President-elect Donald Trump (R) wants to greatly relieve, if not eliminate, Federal restrictions on oil and natural gas producers so they can “drill, drill, drill.” Lots of folks, including shortsightedly, lots of major (and not so major) oil and gas producer executives think that’s a bad idea.

But some donors grimace when they hear Trump promise that under his watch, crude-oil producers would open the floodgates. He has also promised to cut Americans’ energy costs by 50% or more.
Oil backers’ skepticism stems from the fact that Wall Street has successfully pressured chronically indebted frackers to stop burning through cash, and return it to shareholders via buybacks and dividends instead of reinvesting it to frack more wells.
“Our stocks will be absolutely crushed if we start growing our production the way Trump is talking about it,” said Bryan Sheffield, a Texas oilman who contributed more than $1 million to Trump’s latest campaign.

That argument is a bit of a non sequitur, and so it presents no reason to not remove the restrictions. The removal wouldn’t force the oil and gas producers to drill with abandon or to increase drilling or to drill at all. It would, however, let the producers adjust their drilling from sound business reasons rather than be confined to Government’s political reasons for any adjustment.

Progressive-Democratic Party Agenda

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This is what Party has in mind, should they be the winners this fall.

Party Presidential nominee Kamala Harris will push for these, among others, even as during this campaign season, she ducks away from interviews even by her friendly press (she hoped a couple weeks ago to reach an interview agreement “by the end of the month.” Keep in mind that even as she runs away from the press–and from the questions of us average Americans, these are the policies and goals she has strongly pushed for during her prior campaign for President and during her current stint as Vice President.

  • retreads of her and President Joe Biden’s policies of the last nearly four years
  • ban on fracking as part of her moves to eliminate our hydrocarbon energy capability
  • Medicare for all
  • open southern border
  • voting by and welfare payments to illegal aliens

Senate Majority Leader Chuck Schumer (D, NY) said what Harris lacks to fortitude or the integrity to say out loud for voters to hear and evaluate:

  • eliminate the Senate filibuster
  • control the Supreme Court with term limits and packing
  • impose federal takeover of elections
  • pass enormous spending and tax-hike legislation
  • additional housing entitlements

Harris’ goals are damaging to our economy and destructive of our American culture, bringing in those millions of illegal aliens with no incentive to assimilate into our culture but having access to our voting booths. Schumer’s goals are damaging to our economy and destructive of our republican democracy, converting us to a popular democracy, a form that has never worked in 2,500 years of attempts.

Speaking of Proud Records…

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Progressive-Democrat Vice President and Progressive-Democratic Party Presidential candidate Kamala Harris is a woman of verbally flexible policies.

At a 2020 primary campaign town hall, Harris had this position:

There’s no question I’m in favor of banning fracking. And starting with what we can do on Day One around public lands, right?

In today’s Presidential campaign season, she’s claiming to not be opposed to fracking. After all, [o]ne important swing state, Pennsylvania, is the second largest producer of natural gas.

Following the George Floyd murder and subsequent race riots (many of which victim neighborhoods still have not recovered from them), Harris was a zealous supporter of defunding police departments.

Defund the police, the issue behind it is that we need to reimagine how we are creating safety.
…
For too long, the status quo thinking has been, you get more safety by putting more cops on the street. Well, that’s wrong, because by the way, if you wanna look at upper middle class suburban neighborhoods, they don’t have that patrol car.

Now she’s pushing funding police departments.

On illegal aliens flooding across our borders: when a debate moderator asked, in a 2019 Progressive-Democratic Party Presidential primary campaign debate, whether they [the candidates] would be in favor of decriminalizing border crossings, Harris signaled her agreement with such a decriminalization. Then, post-election, Progressive-Democrat President Joe Biden gave Harris the job of being border czar (the press’ term, which in their own convenient flop, they’re trying to deny they ever used), and Harris has acted on her decriminalization position by…doing nothing regarding tightening border security.

Now, during this campaign season, Harris is claiming to be supportive of tightening border controls.

Progressive-Democrat President Joe Biden is in on the scheme of claiming altered positions at political convenience:

White House officials told Politico that these shifts are part of a strategy to undermine the argument that she is a leftist politician, a reputation they believe stems from the positions she took in the 2020 Democratic primary, but which they say do not truly represent Harris’ positions.

Of course, they are her positions, though. Harris was saying what she actually believed when she pushed those earlier positions. Today, she’s merely covering her political behind and pretending to espouse these “changes” purely for her political gain in an election year. Keep in mind those earlier positions; they’re what she will work to implement if she’s elected.

Green Subsidies

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There’s this bit from Power Line:

And this quote from Severin Borenstein’ and Lucas Davis’ The Distributional Effects of U.S. Tax Credits for Heat Pumps, Solar Panels, and Electric Vehicles:

Over the last two decades, US households have received $47 billion in tax credits for buying heat pumps, solar panels, electric vehicles, and other “clean energy” technologies. Using information from tax returns, we show that these tax credits have gone predominantly to higher-income households. The bottom three income quintiles have received about 10% of all credits, while the top quintile has received about 60%.

It’s reasonable to ask why those “bottom” quintiles—which include the middle-class folks—don’t buy more of these cool green devices. The answer is because even after the lavish subsidies, they can’t afford the devices. The remaining, out of pocket, costs still are too great. Worse, those remaining out of pocket costs comprise the entirety of the costs for much of the bottom two quintiles:

About 40% of US households pay no federal income tax, so millions of mostly low- and middle-income filers are simply ineligible for these credits.

It’s also reasonable to wonder whether Government is simply subsidizing a market until the devices become ubiquitous enough for prices to come down. Leave aside the fact that subsidies vanishingly rarely go away and protected industries just as vanishingly rarely lose their “protection.” The plain fact here is that, after all these years of pushing the devices, and even after all these years of real improvements in their performance, there is no interest in these devices across the broad market. It’s an industry that’s not going to take off without ever larger subsidies, ever increasing government pressure on us to get these devices anyway, ever increasing effort government effort to deny us access to alternative devices.

These green subsidies just give the already rich liberal Left a way to look good to each other in their solar-heated showers.

Maybe it’s time to start making the supporters of Green Politics pay their fair share.

 

H/t Ralf Longwalker

Our Minds Are Made Up

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The House Oversight and Accountability Committee’s Subcommittee on Economic Growth, Energy Policy, and Regulatory Affairs held a hearing in Plano, Texas, Tuesday on energy from the perspective of a number of oil and gas industry leaders.

The 15 Progressive-Democrat members of the subcommittee were invited to the hearing—as all members of a (sub)committee must be when that body meets in its official capacity—and all 15 chose not to attend. That refusal is within House rules, but it’s no less unethical or downright chickens** for that.

Congressional hearings often are puppet theater presentations, with the Congressmen often occupying their time allocations for questioning witnesses with speeches rather than with efficiently asked questions that leave the bulk of the time for witness answers. Too, witnesses often are chosen for their ability to support a political narrative.

All of that, though, is easily enough refuted by Congressmen proceeding from their own lines of questioning. Actual questions, mind you, not self-aggrandizing speech-ifying.

Instead regarding the Plano field hearing, the Progressive-Democratic Party subcommittee members said, “Don’t confuse us with facts,” with their decision to absent themselves.

 

The hearing itself can be viewed via C-SPAN here.