Fossil Future at ExxonMobil (no ‘net zero’ here)By Robert Bradley Jr. -- December 13, 2022 No Comments
“We are investing in big, new projects…. And if you go forward into 2027, we are actually growing [oil and gas] production.” (Darren Woods, CEO, ExxonMobil)
The climate alarmists/forced energy transformationists have a real intellectual and political debate on their hands. Mugged by reality, the activists must confront the failure of “green” alternatives in meeting world demand for affordable, reliable, taxpayer-neutral, plentiful energy.
The Green Energy Crisis has upended the “energy transition” and “Net Zero” future. And bullied corporations now have Main Street and Wall Street on their side. Jamie Dimon at J. P. Morgan Chase was clear on the need for a fossil-fuel future. So are the companies (Vanguard, etc.) that are bailing on the ESG climate movement.
Consider ExxonMobil. “Exxon Knows” should replace ExxonKnew, for ExxonMobil knows that consumer demand and profits will be with the mineral energies, not dilute, intermittent, government-dependent wind and solar.…Continue Reading
Big Oil, Exxon Not Guilty as Charged (a rebuttal in six parts)By Robert Bradley Jr. -- September 22, 2022 1 Comment
“Imagine if the media was reversed on the climate/energy issue, supporting and promoting a free-market, classical-liberal position. They could look at my boxes of files from the Enron days (1990s) and produce an exposé, Enron Knew.”
Back at Enron Corp., I had “email wars” with the company’s climate lobbyist, John Palmisano, the author of the infamous “This agreement will be good for Enron stock” Kyoto Protocol memo. Enron had at least a half-dozen profit centers that stood to benefit from CO2 restrictions, inspiring the activism that led Jeremy Leggett [The Carbon War (Penguin: 1999), p. 204] to identify Enron as “the company most responsible for sparking off the greenhouse civil war in the hydrocarbon business.”
The Palmisano/Bradley exchanges concerned regulating and pricing carbon dioxide. I was against; Palmisano for.…Continue Reading
ExxonMobil Joins Left’s Climate/Energy Agenda (H.R. 5376)By Robert Bradley Jr. -- August 10, 2022 1 Comment
“Bad Profits, rent-seeking, resource misallocation–it’s an upside down world, turning Ayn Rand’s dis-utopian world in Atlas Shrugged into reality one step at a time.”
“Manchin-Schumer leaves no special interest unrewarded,” wrote Robert Bryce. “The legislation is so broad and has so many carve outs that it has been lauded by Exxon Mobil and the Natural Resources Defense Council.”
The new law’s “lollipops” (Bryce) go to wind, solar, EVs, ethanol, carbon capture and storage, and hydrogen–all money losers on a real free market. Bad Profits, rent-seeking, resource misallocation–it’s an upside down world, turning Ayn Rand’s dis-utopian world in Atlas Shrugged into reality one step at a time.
It is a sad day when ExxonMobil, once a bastion of climate and energy realism and good business, goes all-in with the Inflation Reduction Act
Greenwashing Waste: Exxon’s $350 per Barrel Algae ‘Oil’ (Lee Raymond is Missed)By Robert Bradley Jr. -- November 9, 2021 1 Comment
“… by Exxon’s calculations, a barrel of algal oil could be worth as much as $350, when factoring in existing low-carbon fuel standards and tax credits that add as much $260 in value to each barrel. Traditional crude oil currently sells for less than $80 a barrel.”
“The process requires vast amounts of energy so much so that algal biofuel production might consume more energy than it produces, some researchers concluded.”
Biofuels and biomass are energy technologies that are uneconomic and a mirage for the environmental gains that are desired by Left environmentalists. It is a loss-loss-loss for energy, stockholders, and the environment.
The article by Christopher Matthews, “Exxon Sees Green Gold In Algae-Based Fuels. Skeptics See Greenwashing” (Wall Street Journal, October 4, 2021) speaks for itself.…Continue Reading