July 29th, 2022

• American natural gas is the world’s most affordable and reliable green energy. TEA 

• A bit of risky business with Russia’s natural gas. WSJ

• Why is Texas having electricity shortages? The answer is blowing in the wind. Real Clear Energy

• High energy prices fuel inflation, reports the Associated Press. No kidding? AP News

• Russia-to-China super pipeline being built. CNBC

• Strong signs of a recession. CNBC

Last week we applauded Sen. Joe Manchin (D-W.Va.) for standing firm on climate change legislation pushed by the Biden administration and left wing Democrats.
This week, after his stunning reversal on the climate change bill disguised under the name Inflation Reduction Act, we have to ask, “Senator, what were you thinking?”

Disappointment doesn’t sum up how we feel.

Perhaps the green-at-all-costs crowd in D.C. finally wore Manchin down. Or maybe it was the promise to ease rules that he has said are constricting fossil fuel production and slowing needed upgrades to the power grid.

Either way, Manchin let down his state (one of the nation’s poorest) and others with what amounts to new taxes.

Manchin and other Democrats are ignoring common sense solutions to affordable energy and instead strapping billions more in spending on the backs of working class families already facing record inflation and higher bills for groceries, fuel and other items.

This was an opportunity for lawmakers to do something to actually help working class families in West Virginia and other hard-hit economies. They failed miserably, as Senator Manchin caved in. This action shows he too is extraordinarily out of touch with his constituency.

Bottom Line:  More subsidies, more taxes, more money out of hard-working Americans’ pockets. It sounds like Manchin isn’t a centrist after all. He apparently is just another politician catering to his party’s extremist wishes despite rhetoric to the contrary.

Do you love energy independence AND cutting emissions? Then you’ll LOVE natural gas…

In stark contrast to the legislation that Senate Democrats and President Biden are joyfully embracing, these solutions are realistic and proven.

• By quadrupling Liquid Natural Gas production worldwide by 2030, CO2 emissions would be reduced dramatically – equivalent to making every U.S. passenger vehicle an electric vehicle.
• Unleashing LNG represents the largest green initiative on the planet. Recognizing that Natural Gas is Green represents our best opportunity for true American energy independence and a reliable source or energy for families and businesses.
• By contrast, what is contained in the Inflation Reduction Act is expensive, inefficient, ineffective and most of all unreliable. We would still be reliant on foreign energy, that is a threat to our national security, and unproven renewable sources of energy that can be harmful to the environment.
• Remember, thanks largely to natural gas, the United States is the world leader in clean air quality.

Bottom Line: Don’t be misled by the lies and misinformation coming from the green-at-all-costs crowd. American natural gas presents the opportunity to decrease emissions, protect energy reliability/security, and keep energy costs low for families.

What’s the bright side of economic contraction (also known as the word that cannot be said by the Biden administration: Recession)? Albeit minor, the upside to recession fears becoming a reality is lower gas prices. For the past 2 months, gas prices have declined steadily. The national average for a gallon of gas currently sits at $4.28, down from $4.88 a month ago. Additionally, 14 states are seeing average prices lower than $4, with Florida right on the cusp.

However, this shouldn’t come as a huge surprise, considering 2/3 of Americans are driving less with inflation having sucked away their savings.

Nothing on the calendar for next week, as Congress enters their August recess!

COMMON SENSE QUOTE OF THE WEEK

“The future of our nation is in #EnergyIndepedence. We have the resources, so let’s use them. It’s not just good for American jobs, it’s good for national security.”

— Ohio Secretary of State Frank LaRose on Twitter.