The Biden Administration Ever More Delusional On Energy
May 01, 2024/ Francis Menton
Three and a half years into the Biden Administration, and to an ordinary citizen on the ground it might seem like not that much has changed as to energy. Despite hundreds of government actions and initiatives in an all-of-government regulatory onslaught to transform the energy economy, the important things have been remarkably stable. Production of oil and gas are actually up, and prices increases have been relatively modest — far less than one might have anticipated from the extreme regulatory hostility to production. The percentage of what is called “primary energy” (that is, energy for everything, not just electricity) coming from fossil fuels has remained nearly unchanged. EIA data here for 2022 (latest I can find) show about 79% of U.S. primary energy from fossil fuels, barely changed since Biden took office, and indeed very stable for decades.
Perhaps this situation of stable energy production and consumption results because it reflects what markets and consumers want and need to satisfy their demand for energy. So do you think that the hyperactive regulators might just relax and let the consumers have what they want?
Unfortunately, that is not how this works. Even as the energy producers and consumers have figured out endless workarounds to avoid the fossil fuel suppression that the Bidenauts attempt to impose, the little regulatory tyrants have been busy preparing new bouts of punitive restrictions. Last week saw a round of some of the most sweeping regulatory edicts yet. The regulators really plan to put the people in their place this time.
In the new round, the regulators have gotten farther and farther away from anything realistic, anything consistent with the laws of physics or thermodynamics, anything that might actually work. We are now well into the world of fantasy and delusion.
https://www.manhattancontrarian.com/blog/2024-5-1-the-biden-administration-ever-more-delusional-on-energy
