The news is full of stories about the record setting futures for natural gas these past few weeks. Most of them include the Russian invasion of Ukraine as the catalyst. But the global issue is bigger than that….

• Commodities like oil and natural gas exist on a global market where local prices generally rise and fall together irrespective of location.
• Over the last decades Russia has been seeding western markets with studies about the harm from burning fossil fuels while ramping up their own production.
• Countries like Germany all but abandoned their domestic base load generating fuel sources in favor of renewable energy sources like wind and solar.
• They then turned to Russia to provide a backstop fuel source for when the sun doesn’t shine and the wind doesn’t blow.
• This same story played out across Europe with countries curtailing their domestic production and ramping up imports from a sole source, like a train wreck decades in the making.

Back in America…

• The Administration has likewise disincentivized investment in and production of our own abundant fossil fuel sources while importing them from Russia.
• At a time when the world should be turning to America to help them out of their own unforced quagmires, we are following them down into it.

Bottom Line:  The world is safer when America leads. We should be countering Russian supplies with our own by boosting abundant, affordable and reliable American fuel resources, like natural gas.

Progressives seem to be losing the battle they are waging against wind turbines.Yes, you heard that right—AGAINST wind turbines.

• Wealthy progressives who live on Long Island are engaged in a last ditch “NIMBY” effort to stop the Orsted wind turbine project.
  • Local residents are launching a campaign to isolate their community by self-incorporation, in other words, creating a new town that could reject the proposed offshore turbine construction and location where the cables would come onshore to connect to an inland transmission station.

History repeats itself.

• Virginians discovered through the RGGI price increases.
• And late Senator Ted Kennedy’s constituents were familiar with his message.
• Once again progressives show that they don’t care what happens to hardworking Americans in middle America so long as they can keep using lofty talking points, while their shoreline views aren’t obstructed and their property values aren’t threatened.

On the bright side…

• It is nice to see agreement across the political spectrum, everyone cares most about the green in their wallet, even those who promote “green” initiatives.

Bottom Line: People like the idea of green at all costs initiatives but don’t want to pay those costs or change their lives to accommodate them.

• In compliance with an injunction from the Western District of Louisiana, the Department of the Interior is begrudgingly resuming lease sales but managed to salve their frustration by saddling the leases with higher fees.
• The sales also come with additional burden for environmental and community reviews. Presumably these are being initiated for more informed decisions but…

Bottom Line: These costs and the additional fees from the Department will inevitably be passed to the consumers through more costly energy.

Hearing On Interior Budget: On Thursday, April 28, the House Appropriations Subcommittee on Interior, Environment, and Related Agencies will hold a hearingon the FY2023 Department of Interior budget.

Hearing On Ag Budget: On Thursday, April 28, the House Appropriations Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies will hold a hearing on the FY2023 Department of Agriculture budget.

Hearings On Energy Budget: On Thursday, April 28, the House Energy and Commerce Subcommittee on Energy will hold a hearing and the House Appropriations Subcommittee on Energy and Water Development, and Related Agencies will hold another hearing on the FY2023 Department of Energy budget.

Hearing On Energy Nominations: On Thursday, April 28, the Senate Energy and Natural Resources will hold a hearing on nominations for the Department of Energy and Department of Interior.

Hearing On EPA Budget: On Friday, April 29, the House Appropriations Subcommittee on Interior, Environment, and Related Agencies will hold a hearingon the FY2023 EPA budget.

COMMON SENSE QUOTE OF THE WEEK

“Biden admin just finalized rule that will require scrutiny of the ‘climate impact’ of any major project. – Translation: say goodbye to your favorite infrastructure project. Will take way longer and way more money, if it gets built at all.”

– Rep. Dan Crenshaw (R-TX), in reference to the Biden admin restoring provisions of the National Environmental Policy Act.