“In 2014, more than 40 percent of its resources went to renewable energy projects. Environmental advocacy groups such as Greenpeace largely support OPIC’s recent emphasis on renewable energy, but still criticize OPIC’s continued support of energy-related projects that use fossil fuels.”

A small victory for taxpayers and cronyism foes occurred today with the expiration of the charter of the Overseas Private Investment Corporation (OPIC), a government lending agency. The agency is still open, but like its sister the Export-Import Bank (EXIM), whose charter expired this June 30, it cannot engage in new business.

OPIC and EXIM remain open to service existing loans, however, and reauthorization would bring them back to full life.

Background

OPIC’s three key policy objectives are to:

1. Stimulate economic development in developing countries;
2. Make foreign policy gestures on behalf of the U.S.

“The anti-fossil fuel environmental movement is in despair. For decades, proponents of the ideology of sustainable development preached that humanity was running out of oil and gas, that consumption of hydrocarbons was destroying the climate, and that renewable energy was rapidly becoming a cost-effective alternative. But the Shale Shock has slain peak oil and promises low-cost oil and gas for centuries to come.”

The world has changed. Although few yet understand it, the revolution in the production of oil and natural gas from shale has altered the course of global energy, affecting most of the world’s people. This is not a short-term event. Citizens, industries, and nations will be impacted for decades to come.

We are witnessing a modern energy miracle. For more than 30 years, US crude oil production fell from 9.6 million barrels per day in 1970 to 5 million barrels per day in 2008.…

The Alliance for Wise Energy Decisions (AWED) is an informal coalition of individuals and organizations interested in improving national, state, and local energy and environmental policies. Our premise is that technical matters like these should be addressed by using Real Science (please consult WiseEnergy.org for more information).

A key element of AWED’s efforts is public education. Towards that end, every three weeks we put together a newsletter to balance what is found in the mainstream media about energy and the environment. We appreciate MasterResource for their assistance in publishing this information.

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Some of the more informative articles in this issue are:

How a NC Wind Project Undermines US National Security

An Open Letter To Amazon about the NC Desert Wind project

China drastically reducing wind and solar subsidies

UK PM Cameron: “Get Rid of the Green Crap”

Video: Wind Turbines Can Cause Human Health Impacts

AWEA’s Eagle Mortality Defense: A Response

The story behind “Renewables” and “Sustainability”

“Renewable” Energy – Powerful Words Make Us Do Stupid Things

Global Warming Goes To Court

Ted Cruz on “Climate Change”

Report: Private Interest and Public Office

Settled Science is a Myth

Greed Energy Economics:

China drastically reducing wind and solar subsidies

GOP Presidential Hopefuls Call for Ending Energy Subsidies

UK PM Cameron: “Get Rid of the Green Crap”

Talk Is Cheap but Renewable Energy Is Not

Study: Wind Energy has Diminishing Returns

Wind Energy Profits Gone with the Wind

Wind Farm Investment Plunges With Power Prices in Nordic Region

Transparency lacking in state energy moves

Uncle Sam’s Solar Racket — A Cesspool Of Waste And Corruption

NC Shouldn’t Renew ‘Renewable’ Handouts

NC’s RPS cost = $3,800 per NC family

NC’s Energy Policy is “Morally Repugnant”

Turbine Health Matters:

Video: Wind Turbines Can Cause Human Health Impacts

New Research: Less Sleep Causes Higher Chance of Sickness

Web MD: Ten Things to Hate About Sleep Loss

Healthline: The Effects of Sleep Deprivation on the Body

Harvard: Consequences of Insufficient Sleep

NIH: Consequences of Sleep Loss

NHS: Why Lack of Sleep is Bad for Your Health

More deaths from relocation than from Fukushima or tsunami

Turbine Wildlife Matters:

AWEA’s Eagle Mortality Defense: A Response

Raisin Supreme Court ruling seen as lifeline for endangered species

Is wind energy development, killing the green energy movement?…

“There were times when Lay’s lobbying seemed at odds with his oft-stated belief in free-market solutions. A classic example was Enron’s dependence on such government agencies as the Overseas Private Investment Corporation and the Export-Import Bank, which provided loans and loan guarantees for development project in the third world.”

“Like most Wall Street frenzies, the international development craze was wildly overhyped…. [S]ome of Enron International’s assets were almost comically awful, and others were fields of dreams.”

– Bethany McLean and Peter Elkind, The Smartest Guys in the Room (below)

A best-selling Enron book by Bethany McLean and Peter Elkind, The Smartest Guys in the Room (Penguin: 2003), told of Enron’s many interactions with government. Their treatment of the subject is only the beginning, however. My forthcoming book, Political Enron: A Business History (Part I: 2016), will chronicle Enron’s unprecedented rent-seeking as a warning about the perils of a mixed economy where the worst can get on top.…