Ed. Note: From time to time, MasterResource reaches back in energy history to document bad governmental ideas. The example before is surprisingly recent–just before the shale revolution destroyed the case for synthetic oil and gas (not to mention wind, solar, and even nuclear in power generation) as market-competitive.
“In March [2006], the [U.S. Department of] Energy Secretary, Samuel K. Bodman, said in a speech that making diesel fuel or jet fuel from coal was ‘one of the most exciting areas’ of research and could be crucial to the President’s [George W. Bush] goal of cutting oil imports.” (below)
Synthetic oil and gas: World War II, Korean War, postwar, 1970s. All projects a failure, completed or suspended-in-construction. But a last hurrah came in 2006, a period when none other than George W.…
“Something seems wrong with Devon if the CEO really has to fuss at his competitors to be less competitive.” (below)
It is a perennial problem. Consumers have the upper hand in a free market. Sellers, even with minerals that are supposed to be depleting (typically not), complain about the other guy and gal producing too much and pricing ‘irrationally.’ And another I once heard: ‘Buyers are smarter than sellers.’
I was reminded of this reading a recent article, “Devon CEO Urges Lower 48 E&Ps to Focus on Generating Cash, Limiting Oil, Gas Production” (May 5, 2021). The Natural Gas Intelligence (NGI) piece begins:
…Devon Energy Corp. CEO Rick Muncrief said it’s time for his peers to get their act together and stop expanding oil and gas production until demand outpaces supply.
“Let’s expose this dangerous charade. The Green New Deal is not green. It’s not new. And it’s not a good deal for America.”
– Marc Morano, Green Fraud, p. 306.
“The sorry present of the climate/energy debate will need some vital books come the autopsy. When that time comes, Green Fraud will serve as a go-to book. In the meantime, America, read away as part of a public opinion shift toward climate realism and energy basics.” (below)
I remain a big believer in books in the age of short attention spans. But the book must cover a lot of material in an organized way–and have a thorough index for researchers.
Outside of a too-brief index, Marc Morano’s Green Fraud: Why the Green New Deal Is Even Worse Than You Think (Regnery: 2021) is a worthy addition to any library concerning today’s raging debate over climate and energy.…