fossil fuels
What Explains Trump’s Energy Policy?
There’s no plausible economic explanation. It’s all about politics.
Trump’s energy policy rests on promotion of U.S. fossil fuel production and use. The instruments include orders forcing coal-fired generators to keep operating, relaxed air pollution standards for power plants, and repeal of as many energy efficiency standards as possible. Trump’s overall economic policy centers on mercantilism, the belief that countries get rich by exporting more than they import. That fits pieces of his energy policy but not others. There’s also some rhetoric about free choice by consumers, but Trump clearly is not a believer in free markets as a matter of principle.
CONTINUE READINGThe Dim Outlook for Trump Energy Dominance
About the best he can hope for in the long run is to maintain the status quo.
U.S. oil is seeing a future of declining U.S. and global demand for gasoline and diesel, with U.S. production also remaining stagnant. The future for natural gas production is looking rosier given increasing energy demand and possible growth in U.S. exports. From the perspective of the oil industry, this is probably an optimistic forecast. It assumes that there are no major advances in battery technology that would further accelerate adoption of EVs or sharp decreases in the price of solar. It also assumes that nuclear power doesn’t expand globally, and that other countries are willing to trust the U.S. as a source of a vital energy resources.
CONTINUE READINGThe National Security Scam
Just about everything gets labeled an emergency or national security threat these days. The courts may be starting to catch on.
The Trump Administration invokes national security and declares national emergencies to justify all manner of actions such as excusing violation of environmental laws. Past Administrations have gotten strong deference for their emergency claims. But this one may be quickly using up its credibility. You can pass a certain number of counterfeit bills, but a flood of counterfeits is hard to hide.
CONTINUE READINGUnderstanding the Energy Dominance Agenda
What does this key concept in Trump’s energy policy actually mean?
The term “energy dominance” is at the core of the Trump Administration’s energy and environmental policies. But hat does it mean? Trump fleshed out the concept of energy dominance when he proclaimed October to be “National Energy Dominance Month.” (He forgot to issue the proclamation until halfway through the month, meaning it got even less attention than it might have otherwise received. Still, it unpacks some of his thinking in a useful way. Below, I’ll try to tease out answers to some of the key questions.
CONTINUE READINGKeeping Coal on Life Support
Trump is doing everything he can to boost coal. And still, the industry is on life support.
The good news for investors is that coal is behaving like much of the non-AI stock market this year. Yet this growth is taking place on a very low baseline, which had slumped well below from Great Recession levels. If investors are to be believed, Trump may be able to keep the coal industry on life support. But it’s still in the ICU.
CONTINUE READINGThe Emperor’s New Endangerment Theory (Part I)
EPA says the electricity sector’s climate impacts aren’t significant. Really??
EPA has proposed a novel reading of the Clean Air Act (CAA) that would foreclose any regulation of CO2 emissions from power plants. EPA’s core argument is that the statute requires it to determine whether an industry’s emissions “cause or contribute significantly” to climate change and that the industry’s carbon emissions don’t meet that standard. …
Continue reading “The Emperor’s New Endangerment Theory (Part I)”
CONTINUE READINGAbundance and the Seven County case
The Court’s decision will facilitate fossil fuel projects much more than clean energy
I’ve seen some posts on the social media site formally known as Twitter arguing that the Seven County case is a win for an abundance-focused policy – in that it will facilitate more construction of infrastructure by eliminating or reducing environmental reviews. I think that statement is somewhat accurate in general. But I think it is …
Continue reading “Abundance and the Seven County case”
CONTINUE READINGIs Trump Good for the Oil Industry?
Not particularly, it would appear. If there’s an effect, it’s not big enough to hit the eyes.
No doubt, the industry would rather have Trump in office than Harris. But the effect on industry profits may only be incremental. It would be great to see a rigorous statistical analysis by a finance expert, but a bump to oil profits isn’t obvious in share prices.
CONTINUE READINGA Trumped-Up Energy Emergency
We have weathered past threats to energy security through democratic processes, not by executive fiat.
The Executive Order has fabricated an energy emergency and is doubly wrongheaded. First, as the statistics bear out, there is neither a domestic energy emergency nor an energy crisis. The U.S. has effectively secured energy independence. More significantly, Trump’s politically driven, fossil fuel-dependent energy portfolio is neither diversified nor economically sound.
CONTINUE READINGThere are Piles of Coal in America’s Christmas Stocking
Coal is piling up, unused, at powerplants across the country
Bad children, supposedly, will get only lumps of coal in their stockings. That could be taken as a metaphor for the anti-environmental programs coming down the line, but I have in mind something a bit less metaphorical. According to a recent report, coal-fired power plants have immense piles of coal – 138 million tons, equal …
Continue reading “There are Piles of Coal in America’s Christmas Stocking”
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