March 8th, 2024

• Stay up to date on all things energy by visiting the TEA Newsroom.
• Natural Gas CARES: It is the world’s Cleanest, Affordable, Reliable Energy Source.
• China barred from buying U.S. oil reserves in funding bill.
• Will Colorado jump-start a national push to ban new oil wells?
• AI could trigger a natural gas boom in Europe.
• Study: War on gas stoves reignited.
• New Jersey waters down proposed referendum on new fossil fuel plants.
• Granholm maintains cozy relationships with far-left environmental groups.

The issue: Investment management company BlackRock finally admitted in its annual filing to the Securities and Exchanges Commission that CEO Larry Fink’s environmental, social, and governance policies (ESG) advocacy could harm its reputation and hurt its bottom line.

Why it matters: States including Florida, West Virginia, Texas and others have taken legal action or stopped using BlackRock and other firms that push ESG in their investments. According to a group of state attorneys general, investor returns must be a fiduciary’s sole focus, and BlackRock has been sacrificing those returns to advance its “net-zero” carbon emissions agenda.

Consumers deserve the best and most honest investment practices. Advocating an extremist climate philosophy runs directly counter to that policy.

Consider: 

• Last month, Texas blacklisted the company over its ESG policies, prompting Fink to reach out to State Lt. Gov. Dan Patrick and other Republican officials at an energy investment summit in Houston.
• BlackRock has about $10 trillion in assets of which ESG accounts for around $700 billion, according to the New York Post.
• As ESG becomes more controversial, it has affected other companies too.
• Bank of America appeared to renege on its 2021 pledge to not fund new coal projects, saying in its end of year “Environmental and Social Risk Policy Framework” filing in December, new coal mines and plants, or Arctic oil drilling, such projects will now face “enhanced due diligence.”

Florida formed an alliance in March 2023 with 18 other states to push back against The Department of Labor’s new rule allowing climate-aligned funds in 401(k) plans, passed a year earlier.

Earlier this year, a coalition of 12 Republican state agriculture commissioners wrote a letter to six large U.S. banks, including Bank of America, over their net-zero ambitions, opening a new front in the pushback against what they call “woke investing,” a fight that has primarily been spearheaded by state AGs and financial officers.

Bottom Line: The pushback to ESG appears to be working. BlackRock and other firms are feeling the pinch of states’ collective action.

The issue: Electric vehicles release more toxic particles into the atmosphere and are worse for air quality than their gas-powered counterparts, according to a resurfaced study.

Why it matters: For years the Biden administration and other climate extremists have told us how great EVs are for the environment. President Biden has made driving very large electric vehicles a signature move of his presidency. When the all-electric Ford F-150 Lightning came out last year, Biden zipped around a racetrack wearing aviator sunglasses.

Remember, American imports of Chinese lithium-ion batteries — a critical component in electric vehicles — have increased over 500 percent since Biden took office, Census Bureau data show.

Consider: 

• The study found that brakes and tires on EVs release 1,850 times more particle pollution compared to modern tailpipes, which have “efficient” exhaust filters, bringing gas-powered vehicles’ emissions to new lows.

• Today, most vehicle-related particulate matter comes from tire wear and because EVs are on average 30% heavier, brakes and tires on the battery-powered cars wear out faster than on standard cars.

• As heavy cars drive on light-duty tires — most often made with synthetic rubber made from crude oil and other fillers and additives — they deteriorate and release harmful chemicals into the air, according to Emission Analytics.

The Environmental Protection Agency has also shared plans to ratchet up emissions standards starting with the 2027 model year to force automakers to sell ever fewer gas-powered and even hybrid cars. Their goal is to make the majority of American vehicles electric by 2032.

At The Empowerment Alliance, we’re committed to the facts. That’s why we just launched our new “Truth About Renewable Energy” page, full of information and data you may not hear the mainstream media talking about. Check it out!

Bottom Line: Renewable energy is never as “green” as they say it is. From the damaging environmental impact of mining, to the emissions released from EV tire wear, net zero is really “not zero.”

This marks the 4th consecutive week that gas prices have risen across the nation. The national average for a gallon of gasoline increased 7 cents over the past week, from $3.33 to $3.40. Texas drivers are paying the least at the pump with an average of $2.94, while California drivers are still paying the most at $4.87. No surprises there!

Hearing On America’s Electrical Grid: On Tuesday, March 12, the House Oversight and Accountability Subcommittee on Economic Growth, Energy Policy, and Regulatory Affairs will have a hearing called “The Power Struggle: Examining the Reliability and Security of America’s Electrical Grid.”

Hearing On Russian Nuclear Energy: On Tuesday, March 12, the House Foreign Affairs Subcommittee on Europe will have a hearing called “Going Nuclear on Rosatom: Ending Global Dependence on Putin’s Nuclear Energy Sector.”

“The Real State of the Union: Every American who walks down the aisle of a grocery store or fills up at the gas pump has felt the impact of Biden’s failed economy.”

-Senator Ted Cruz (R-TX), in response to President Biden’s SOTU speech.