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Waste of energy independence in a chaotic world

by SuperiorInvest

During the past two weeks, as the news in America has focused on the FBI raid on Donald Trump’s Mar-a-Lago home and later on the death of Queen Elizabeth II, there has been important news that has not been covered much in the US. United States. Turkish President Recep Tayyip Erdogan has threatened Greece over what Erdogan says is Greece violating Turkish airspace and occupying and militarizing islands near the Turkish mainland. Argentine Vice President (and former President) Christina Fernandez de Kirchner survived an assassination attempt in Buenos Aries when the would-be assassin’s loaded gun jammed. And the UK is debating whether or not it will have to shut down businesses during the winter due to expected power shortages.

Of course, China continues to rattle its sabers over Taiwan, and Ukraine and Russia remain at war. Three New York Times on Sunday
correspondents wrote a story about how Ukraine and Russia turned into Vladimir Putin’s “special military operation” for six months. One line in this story is instructive:

“The coming winter and Europe’s dependence on Russian energy supplies gives Mr. Putin the courage to fight until divisions in the West emerge or until the Ukrainian military and government are exhausted.”

It will then be displayed New York Times authors that Western energy dependence is directly related to the ongoing war in Ukraine.

For anyone looking at international affairs through a non-ideological prism, a world in which a vicious land war is raging in Europe, two NATO allies are threatening each other with hostilities, China continues to threaten Taiwan, Iran creates new threats to its neighbors Europe fears social unrest with insufficient energy supplies in the winter and South American leaders being the target of an assassination attempt, it is unstable to say the least. At a time like this, most international leaders are trying to ensure that the basic needs of their citizens can be met at home as much as possible. However, when it comes to energy, it appears to be the exact opposite of the approach taken by the Biden administration and many of its supporters.

At the end of August, the attorneys general of California, Oregon and Washington, all very blue states, asked the Federal Energy Regulatory Commission (FERC) to reject the application of the Canadian energy company TC Energy.
to expand the amount of natural gas that flows 1,400 miles through a pipeline that runs from the Canada-Idaho border to Malin in southern Oregon.

TC Energy’s request would not require the construction or expansion of a new pipeline. It would just increase the flow through his current pipeline. Still, Western nations have argued that increasing natural gas supplies will harm their efforts to combat climate change. Ironically, this stance by California Attorney General Rob Bonta comes at the same time that the Golden State bans the sale of combustion-powered cars by 2035, but does not have the capacity to generate enough electricity to meet its current electricity needs. suffering from a heat wave.

To make matters worse, the federal Environmental Protection Agency (EPA) reversed its stance on September 2, rejecting a major offshore oil export terminal near Corpus Christi, Texas. The project was given the green light by the EPA under the Trump administration, but now under President Biden, project permits have been denied. The export terminal, located approximately 21 miles offshore from Corpus Christi, could discharge nearly 19,000 tons of volatile organic compounds (VOCs
C’s), but it would also allow the United States to export approximately 384 million barrels of oil to Europe and other destinations. This could prove very important for a world without Russian oil supplies.

Internally, for domestic use, the Treasury Department is also raising barriers to the development of fossil fuel-based energy. It recently issued guidelines suggesting that multilateral development banks not finance natural gas projects. Biden appointees to FERC have also made it more difficult to obtain permits for fossil fuel pipelines, which in February requires future pipelines to be reviewed by the agency for the impact of proposed pipelines on climate change.

Almost all of these actions by the Biden administration and left-leaning state agencies are defensible in isolation, but given the current international climate, they look like politics in denial about the real world. Every step Germany has taken to move away from fossil fuels since 2010 has been well-intentioned, but the end result has been disastrous, both politically and environmentally.

With the winter of 2023 approaching and all of Europe uneasy about the coming energy supply problem, US energy policy in the last two years has not given much room to this country or the Western world.

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