Alex Epstein is Winning (humanism, progress = mineral energies)
By Robert Bradley Jr. -- October 21, 2022
The false idea that fossil fuels’ climate impacts are an “emergency” that requires us to rapidly eliminate fossil fuels has caused an energy emergency. The “climate emergency” movement must be held accountable. The world is experiencing the worst energy crisis since the 1970s… (- Alex Epstein, October 20, 2022)
May this thinker have the last word on today’s energy and environmental debates on all media platforms. Daniel Yergin, hand the microphone to Alex Epstein at the next CERAWEEK. Energy companies, broadcast this speech live in your board rooms and employee conference rooms. It is his turn. (- RLB, below)
Energy philosopher/realist Alex Epstein (Center for Industrial Progress) might well be the leading voice in his domain today. (Robert Bryce is in the race too.) His stock is rising, while voices of climate alarm/forced energy transformation are falling. He is booked solid with presentations and stands ready to debate anyone, anytime from the intellectual/political mainstream. Bring it on!
Here is the very latest from Epstein:
Today I gave a 90-minute presentation + Q&A to a group of executives interested in my perspective on the future of energy. I focused on five trends shaping the future of energy that I believe most commentators underestimate or overlook:
- Fossil fuels’ fundamentals remain strong
- Anti-fossil-fuel policies have caused a global crisis
- The anti-fossil-fuel establishment is in denial
- Humanistic thinking about fossil fuels is on the rise
- Many people are now thinking differently about fossil fuels
Some of his talking points follow:
Trend 1: Strong Fundamentals
- Fossil fuels will continue to have fundamental advantages due to 1) their unique cost-effectiveness and 2) the world’s need for much more energy.
- Recommendation for investors: Be on the lookout for opportunities in the fossil fuel space that others are missing because they’re underestimating the superior fundamentals of fossil fuels. Just make sure you can navigate the political risk. (And that risk might be going down….
Trend 2: Anti-fossil-fuel Policies are Causing a Global Crisis
- Restrictions on fossil fuel investment, production, and transport have artificially restricted supply, while promises that demand would be replaced by alternatives have proved false.
- For the last 15+ years, the anti-fossil-fuel movement has successfully restricted fossil fuel investment, fossil fuel production, and fossil fuel transport on the false grounds that 1) fossil fuels’ climate impacts were an “emergency” and 2) unreliable solar and wind could rapidly replace fossil fuels.
- While the anti-fossil-fuel movement has not come anywhere near achieving its goal of rapidly eliminating fossil fuel use, just by slowing the growth of fossil fuel use it has caused a global energy crisis in which the world hasn’t been able to handle post-pandemic demand and less Russian energy.
- The world is now seeing the consequences of just a small sliver of the net-zero agenda. Wealthy Europe is experiencing mass-hardship, deindustrialization, and fear of winter. Poor nations, e.g., Bangladesh, are being outbid for today’s scarce energy supplies….
Trend 3: The Anti-fossil-fuel Establishment is in Denial
- In the face of clear evidence that fossil fuels’ fundamentals are strong and that anti-fossil-fuel policies have caused a crisis, the anti-fossil-fuel establishment is playing a denial game. This may (and should) further discredit it.
- Instead of admitting that suppressing fossil fuel investment, production, and transport in a world that needs far more energy is clearly responsible for today’s crisis, today’s anti-fossil-fuel establishment is denying this by placing primary blame on Putin and (absurdly) the fossil fuel industry.
- Today’s high fossil fuel prices are not primarily a “Putin price hike.”
They are caused by global anti-fossil-fuel policies—which made fossil fuel prices artificially high before Putin’s war and prevented the free world from quickly increasing production in response.
- The anti-fossil-fuel movement has the gall to chastise the fossil fuel industry for not sufficiently ramping up production post-pandemic and post-Putin-invasion. But this insufficient ramp-up is the result of fossil fuel policies that restrict and punish new attempted production!⁶
- Another establishment attempt to deny responsibility for the energy crisis is to claim we just needed government to push solar and wind even more. But places that did this most, e.g., Germany, are suffering the most. Because solar and wind is nowhere near able to replace fossil fuels.
- Another establishment attempt to deny responsibility for the energy crisis is to blame it on “climate change.” E.g., blackouts and high food prices are “climate change.” BS. With low-cost, reliable energy, blackouts are rare and food is cheap, whatever our climate impact….
Trend 4: Humanistic Thinking About Fossil Fuels is on the Rise
- A new, influential group of thinkers is thinking about fossil fuels in a pro-human, evenhanded, precise way—not just focusing on or exaggerating their negatives. This is breaking the “moral monopoly” of the anti-fossil-fuel movement.
- Much of the anti-fossil-fuel establishment’s success in promoting horrific fossil fuel elimination policies is that they have enjoyed a “moral monopoly”—a position in which they were considered the only moral option. This was never deserved and is now being eroded.
- The key to the anti-fossil-fuel establishment’s “moral monopoly” has been a false alternative re: fossil fuels and climate: you’re either 1) a “climate change believer” who opposes fossil fuels or 2) a “climate change denier” who supports fossil fuels….
Trend 5: Many people are thinking differently about fossil fuels
- The combination of a global crisis caused by anti-fossil-fuel policies and the rise of humanistic arguments for fossil fuels is rapidly changing perception and short-term policy. And there is potential for long-term policy change.
- Evidence of changing fossil fuel perception: In March, the White House, trying to portray itself as pro-fossil-fuel, absurdly claimed that “there is nothing standing in the way of domestic oil production.” Vs. When Biden ran, he felt comfortable saying “I guarantee you, we’re going to end fossil fuels.”….
May this thinker have the last word on today’s energy and environmental debates in all media platforms. Daniel Yergin, hand the microphone to Alex Epstein at the next CERAWEEK. Energy companies, broadcast this speech live in your board rooms and employee conference rooms. It is his turn.