March 1st, 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.
• Chicago sues oil companies; lawsuit ‘set up for failure,’ industry warns.
• Opinion: Biden’s green energy plans will funnel taxpayer billions to Chinese firms.
• Gas export pause could scramble Biden’s chances in Pennsylvania.
• Constitution cleanup took 335 hours  after the climate protest.
• WV Treasurer warns financial institutions of anti-fossil fuel stances.
• Californians already pay sky-high pump prices and it may get much worse.

The issue: How a billionaire Democrat fueled the Biden anti-LNG pressure campaign, while placing lucrative bets in China. This story clearly illustrates what happens when wealthy, green-at-any-cost supporters team up with foreign entities. In this case, American energy producers and consumers are the casualties.

Why it matters:  In this case, the result was a terrible policy decision by President Biden. The administration paused new approvals for liquefied natural gas export terminals — a decision experts and lawmakers argue poses national security risks and could embolden foreign adversaries.

Biden has taken heat from all sides — from the natural gas and oil industry to several prominent Democrats in energy producing states like Pennsylvania and Texas — for this surprising (and politically motivated) move.

Consider: 

• Billionaire venture capitalist Michael Moritz, a Democrat, has said, “Doing business in China is easier than doing business in California.” No kidding.
• Moritz heads up the Crankstart Foundation, which poured money into environmental activist hubs as an anti-oil-and-gas initiative.
• Biden climate envoy John Podesta helped shape the LNG pause, and, not surprisingly, it could benefit his lobbyist brother Tony’s former and current clients, including Golden Pass LNG, which is co-owned by the state-owned QatarEnergy petroleum company, according to the Washington Free Beacon.
• The Podesta Group is also under federal agents’ watch for the role the company may have played working with pro-Russian Ukraine officials.

• One scientist in particular was quite influential in the LNG pause. This Cornell professor has made it no secret about his anti-natural gas viewpoints.

The pause removes a huge strategic advantage for the United States. China is so deeply vested in so-called green energy infrastructure for their solar panels and wind turbines.  And who is pushing these unreliable renewables? It’s Biden, his administration and their leftwing allies, of course.

A congressional investigation has determined that five American venture capital firms invested more than $1 billion in China’s semiconductor industry since 2001, fueling the growth of a sector that the United States government now regards as a national security threat. Those included Sequoia Capital, one of Moritz’s investment partners.

These are not coincidences and they’re happening more and more. Connecting the dots shows us everything we need to know about this administration and its anti-American energy policies.

Bottom Line: The lesson here is simple: Just follow the money behind the green-at-all-costs agenda and it will lead you back to foreign interests. Thus, wealthy elites (and foreign dictatorships) keep winning and average Americans lose — every single time.

The issue: President Biden’s push for electric vehicles is failing and failing miserably. So what does the government do?

It doubles down on the idea. The Department Of Energy plans $710M in loans to boost the EV supply chain.

Why it matters: The Environmental Protection Agency is leaning toward approving a compromise regulation on car and truck pollution that could slow the initial pace of the required cuts, compared with a draft proposal the administration released last year. The change could mean that for the rest of this decade, EV sales would climb more incrementally than the EPA had originally projected.

Consider: 

• The Department of Energy announced conditional loans for two companies that aim to boost the electric vehicle supply chain in Michigan, the historic hub of U.S. auto manufacturing and a key battleground state in the 2024 presidential election.
• The Biden administration has released multiple loans for battery and clean energy projects after the DOE office was largely inactive during the Trump administration.
• The ill-named Inflation Reduction Act signed last year included more than $11 billion to support new department loans.

This administration continues to waste billions of taxpayers’ dollars on technology that is not competitive or affordable. It keeps pushing a means of transportation that most Americans can not afford and do not want. At the same time our nation is losing high paying manufacturing jobs on internal combustion engine vehicles, while becoming increasingly reliant on China.

Meanwhile, a new poll released by The American Petroleum Institute (API) shows just how out of touch Biden and his cronies are with mainstream Americans:

• 75% oppose government regulations that would ban new gasoline, diesel and hybrid vehicles. (Democrats 56%; Independents 80%; Republicans 92%).
• 67% believe the country is on the wrong track when it comes to the federal government’s energy policies.

Bottom Line: Pouring millions of dollars into the black hole that is EV production is a prime example of wasteful government spending. Doing it to bolster President Biden’s re-election chances is downright shameful.

To learn more, visit TEA’s newest page:  The Truth About Renewable Energy.

Happy March! Gas prices are starting to inch upwards, as signs of a potential “leap” at the pump are emerging. As of today, the national average for a gallon of gasoline is $3.33, 6 cents higher than it was one week ago. This is a normal time of the year for gas prices to rise, with winter turning to spring and more drivers hitting the road. Stay safe out there!

Hearing On Rare Earth Minerals: On Thursday, March 7, the House Small Business Subcommittee on Rural Development, Energy, and Supply Chain will have a hearing called “The Rare Earth Mineral Marketplace: Examining the Small Business Role in this Critical Supply Chain.”

“I will not allow our tax dollars to be weaponized against our coal, gas and oil industries in WV! I have sent notices to six financial institutions warning them of potential inclusion of the state’s Restricted Financial Institution List after determining that the institutions appear to be boycotting fossil fuel companies.”

-WV State Treasurer Riley Moore on Twitter/X.