When Putin finished the charade, here’s what happened: On September 28, Reuters reported from Frankfurt, “The German cabinet on Wednesday approved two decrees to prolong the operation of the coal-fired power plant through March 31, 2024, and to bring back brown coal capacity to June 30, 2023, to boost supply. “
In the US, we have made our own version of this green virtue signal. Green progressive organizations have demonized the oil and gas industry – for good reasons in some cases because of how much the industry has worked to negate the reality of climate change and refuse to clean up. clean up its own actions – and basically tell it to go and die somewhere quiet, while we turn to wind and solar. Oil and gas investors and bankers got the message and started to delay or stop investing in new domestic oil and gas production, focusing instead on getting the most profit possible from the oil and gas assets. existing wells.
Being a Goldman Sachs news in April raised the question: “How much future production have we lost because of all the delays in deciding to invest in new oil and gas projects? The answer is 10 million barrels of oil per day, which is equivalent to Saudi Arabia’s daily output, and three million barrels of oil per day in liquefied natural gas (LNG), which is higher than Qatar’s daily output. Had we not continued to delay new investment decisions in oil and gas since 2014, we could have essentially had a new Saudi Arabia and a new Qatar.”
While the US could theoretically still take care of most of its oil and gas needs on its own today, unlike Europe, we don’t have enough to export at the scale needed to compensate. make up for Putin and OPEC Plus cuts and ease Europe’s transition to a decarbonized future. .
But the green progressives never got that message. At a House committee hearing two weeks ago, Representative Rashida Tlaib asked to know if JPMorgan Chase CEO Jamie Dimon and other bankers appeared before the panel had any policy in place. “against financing new petroleum products” or not.
Dimon replied, “Absolutely not, and that would be the road to hell for America.”
Tlaib then told Dimon that any student with student loans and bank accounts with JPMorgan should retaliate by closing their accounts. There’s no doubt: This kind of juvenile moral honing by Tlaib certainly made Vladimir Putin’s day. She’s not as bad as the GOP senators who have been inspired for years ExxonMobil lies that climate change is a hoax, and then use it to halt our transition to clean energy. But Tlaib still makes Putin’s day.
What added to Putin’s interest was when he watched Bernie Sanders, the progressive Democrats in the House and the entire GOP last week come together to pass a bill led by President Biden and the Democratic leader. advocates to streamline the licensing process for domestic energy projects, especially for gas pipeline permits. and wind and solar transmission lines – one of our biggest obstacles to a stable green transition.
