Joe Biden wants to take one of America’s great success stories of recent decades – and push it to the surface.
He will turn away from the immense wealth represented by the country’s proven oil and gas reserves.
Rather than focusing on producing cheap and abundant energy – the essential ingredient for human progress through all of human history – he will start that fool’s errand trying to adjust the world’s thermostat 80 years from now.
After 50 years of efforts to reduce our dependence on Middle Eastern oil, which miraculously happened in the end, Biden will force America to turn to solar and wind power, industries that currently depend on China’s supply chain.
While California has embraced the radical goal of a carbon-free grid by 2045, and has drastically increased energy prices in the state, Biden has seen and stepped up Golden State’s move by embracing the 2035 goal.
All of this was confirmed by Biden’s statement at the end of the debate last week he wanted to move away from oil, Which is a mistake only for anyone who has not paid attention to the energy plans influenced by the Green New Deal.
It’s a funny time wanting oil and gas kneecaps. Proven natural gas reserves in the United States are higher than ever, thanks to American-made technological innovations. Several years ago, the United States surpassed Russia and Saudi Arabia in crude oil production. In recent years, exports of petroleum and natural gas have increased. And, of course, the increase in natural gas has reduced US carbon emissions.
It must be considered a national power to be built, not a national disgrace to be placed on a sliding path to extinction. Fossil fuels are a very useful source of energy, and no hype about renewable energy can obscure that fact.
In 2019, petroleum, natural gas, and coal accounted for 80 percent of overall energy consumption in the United States, according to the US Energy Information Administration. Renewable energy only reaches 11 percent, and most of it comes from biomass (wood and biofuel) and hydroelectric power. Despite being heavily subsidized, the combination of wind and solar is only responsible for about a third of our renewable energy.
As Danish economist Bjorn Lomberg pointed out, the share of US energy coming from renewables has decreased over the past century. The emergence of fossil fuels is a boon to mankind, a great advance on renewable energy, wood and dung.
“Over a century and a half,” wrote Lomberg, “we gave up our dependence on renewable energy and supported the Industrial Revolution with fossil fuels.”
The oil and gas industry should also be valued as a source of good American jobs. Petroleum engineers make about $ 137,000 a year, pump systems and refining operators, $ 72,000 a year, wellhead pumps, $ 58,000, and a $ 44,000 roustabout, according to the Bureau of Labor Statistics.
The idea that we will aim for transition to wind and the painless sun is fantasy. Germany has spent tens of billions a year making this happen. Its renewable energy program has doubled energy costs, while fossil fuels still account for about 80 percent of its energy supply.
If we think avoiding fossil fuels will convince other countries to do the same, we are fooling ourselves. As in the United States, China’s industrial take-off has coincided with a boom in coal use. China is still building coal-fired power plants very quickly. The Middle Kingdom has plans to add more than current US coal-fired capacity in addition to the tremendous use of coal, which accounts for more than half of the world’s total.
Biden’s plan is an attack on American ingenuity and wealth, not to mention common sense. At least after last week, no one could say he wasn’t warned.