‘Self-Inflicted Wounds’: The Dismal State Of American Energy Policy

The United States is focused by policymakers on the following: renewable energy The transition can be made despite all the economic and geopolitical risk that comes with a shortage of reliable and inexpensive resources power sources.

A rapid rise in global energy prices has been caused by the Russian invasion and subsequent supply chain disruptions. China is therefore the largest energy consumer in the world. approved The pace of construction of coal-fired energy plants has been six times faster than that of all other nations combined. Meanwhile, Europe is reluctantly resuming operations at abandoned coal-fired plant mothballed by Russia’s fuel loss.

The Biden government, however, has members who have contended The rising costs of energy and the supply shocks indicate that it is time for officials to speed up the shift towards renewable sources. “The real truth is that as long as our nation remains overly reliant on oil and fossil fuels, we will feel these price shocks again,” Jennifer Granholm was Energy Secretary last year.

According to Riley Moore, West Virginia State Treasurer, the phenomena revealed many flaws in energy policies across Western countries, especially the U.S.

“I think energy independence is of paramount concern. I’m sure the Europeans right now wish that they had that with their dependence on the Russians,” Moore said so to The Daily Wire. “In a country like Germany, now you’ve seen their utility rates go through the roof. They’ve put themselves in that position. We don’t want to be in that position.”

In terms of carbon emission, China is now ahead of the European Union as well as the U.S. data From the International Energy Agency. This is the most significant share of carbon dioxide new emissions arose The rise in U.S.-related emissions more than doubled last year in Asia and completely canceled out Europe’s emissions reductions.

Moore pointed out that even the most aggressive American renewable energy policies, which include the $369 billion climate fund approved last year by the Inflation Reduction Act, have not been able to neutralize the rising emissions of the developing world. “Two-thirds of all the carbon emissions in the world are in Asia,” Moore spoke. “We are a raindrop in an ocean as it relates to this, so we’re chasing policy that is only at the end of the day hurting the average American citizen.”

Despite this, American businesses have struggled. access Capital for projects involving fossil fuels is possible if investment banks and asset managers adhere to ESG principles. Many financial institutions offer ESG financing. committed Executives pledge to eliminate net carbon emissions by participating in initiatives.

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Moore pointed out that West Virginia has a 30% natural gas production capacity. This is due to insufficient infrastructure for exporting the material to international markets. However, the fuel is cleaner than most fossil fuels. “We have an ocean of natural gas in West Virginia,” Moore spoke. “Everybody who loves Ukraine and wants to help and support the Europeans who were previously relying on Russian gas, we cannot export enough gas over to them because we cannot get the gas to ports.”

Moore stated that countries such as China have a better ability to mobilise their military and boost weapons production in case of conflict because they are more willing to burn fossil fuels. However, Moore also noted that the significant shortcomings in American energy policies. “human flourishing” Power that is reliable, inexpensive, and easy to use.

“Consistent and cheap energy is something that you obviously need. As it relates to energy in this country, we’re disarming ourselves unilaterally,” He said so. “All of this is just self-inflicted wounds that we have done to ourselves and tied our hands in our ability to be a net exporter and to support our allies. We are diminishing our own economic power and influence.”

“From ‘Self-Inflicted Wounds’: The Dismal State Of American Energy Policy“

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