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November 12, 2024
A Memo for Trump’s Energy Czar
Last week, the Financial Times reported that President-elect Donald Trump is considering appointing an “energy czar,” described as: The new energy tsar role and its powers are not yet finalised, but people familiar with the plans said it would co-ordinate Trump’s deregulatory agenda across a patchwork of agencies including the Department of Energy, Department of Interior, Federal Energy Regulatory…
November 7, 2024
History of Technology: Cheaper, Cleaner, Easier
Every fall since 2020 I have been teaching energy economics in Northwestern University’s Master of Science in Energy and Sustainability (MSES) program. I team teach with my friend Mark Witte, and my part of the course is backloaded—natural monopoly theory and regulation in theory and in history, new generation technology invention and adoption, wholesale power markets, digitalization…
October 10, 2024
The Clean Energy Transition’s Voter Problem
The future of the clean energy transition is cloudy. It’s well-known that there are disagreements—wide disagreements—between Republicans and Democrats about our energy future. But less well-known is the bedrock of public opinion on America’s energy supply, the importance of a rapid transition away from fossil fuels, and the general salience of the climate change issue….
December 23, 2023
A Deal on Permitting Reform Is Still Possible
Senator Joe Manchin (D., W.Va.) has failed in his pursuit of a final approval of the Mountain Valley pipeline from northwestern West Virginia to southern Virginia, as the Senate refused even to give majority support for his effort to attach his “permitting reform” bill to the defense budget authorization. The environmentalist Left and many congressional Democrats have no interest in…
August 29, 2023
No One Is Above the Law? Biden’s Bureau of Land Management Thinks It Is.
One central characteristic of the Biden administration is its contempt for the letter of the law. When laws interfere with overriding political objectives, they are cast aside, and the courts are often forced to clean up the mess. Nowhere is this norm-busting reality more pronounced than at the Department of the Interior’s Bureau of Land Management (BLM),…
August 8, 2023
The IEA and Congressional Opponents of Fossil Fuels Are Chasing Windmills
The Biden administration’s regulatory onslaught is no mere rumor. It’s a harsh reality deeply problematic for the rule of law, for the concept of self-government, for the institutions of our constitutional republic, and for federalism. And, not least, for a U.S. economy subjected to ever-increasing legal burdens, bureaucratic interference, distortions in the productivity of resource use, and metastasizing Beltway mindlessness. But it’s…
May 31, 2023
The EPA Forges Ahead Toward Less Electricity Supply and Greater Electricity Demand
The Biden administration’s Environmental Protection Agency is nothing if not ambitious, striving as only a bureaucracy politicized and single-minded can to save the world from the purported ravages of the climate “crisis.” Indeed, the central focus of EPA regulatory efforts is the promulgation of requirements for reductions in greenhouse gas emissions that can survive judicial review. A…
March 28, 2023
The Energy Transition Is a Delusion Indeed
The “energy transition” continues to receive thunderous applause from all the usual Beltway suspects, an exercise in groupthink fantasy amazing to behold. For those with actual lives to live and thus uninterested in silliness: The “energy transition” is a massive shift, wholly artificial and politicized, from conventional energy inexpensive (Table 1b and here), reliable, and very clean given the proper policy environment,…
March 28, 2023
Don’t Ban Oil Exports to China
Beltway silliness is as unavoidable as the summer humidity because rent-seeking groups, both economic and ideological, have powerful incentives to advocate legislation that would advance their interests at the expense of the economy in the aggregate. Nor is it difficult to find officeholders to make their arguments for them, even though, or perhaps because, they know better….
March 6, 2023
Biden’s Interior Department Keeps Dragging Its Feet on Offshore Leasing
Notwithstanding some recent declines, domestic crude oil prices in the U.S. are about 45% higher than when President Biden was inaugurated. Global crude oil prices are about 48% higher. U.S. gasoline prices are about a dollar higher per gallon. Indeed, between the inauguration and June 2022, gasoline prices more than doubled. These prices began to increase almost monotonically long before the…