“It is in the national interest to promote clean and safe development of our Nation’s vast energy resources, while at the same time avoiding regulatory burdens that unnecessarily encumber energy production, constrain economic growth, and prevent job creation.”

– President Trump, Executive Order (March 28, 2017)

Do you miss the prior Administration’s record on energy and climate–and push-back against environmental excesses otherwise?

With the Biden Administration scrambling to hoist an anti-consumer energy/climate agenda on Americans on short notice, it is important to keep the opportunity cost of free markets and America-first in mind.

Four years ago, President Trump signed into law one of the most libertarian, free-market executive orders in energy history, easily rivaling that of President Reagan’s oil price and allocation decontrol executive order of early 1981. Titled Promoting Energy Independence and Economic Growth, Executive Order 13783 began with this paragraph:

Section 1.

“The physical operation of the grid can be separated from the economic decisions of what power is generated, transmitted, and sold at wholesale or retail in terms of quantity, cost, and price.”

“Mistakes by ERCOT or the PUCT or Texas legislature make my point–this is a planning failure, not a market failure. Not physics but economics. A historian is weighing evidence about this either being a market or government failure. It is a government failure writ large.” (Bradley, below)

Electricity is different. Power flows must the centrally managed. Ergo, regulators and politicians must manage the grid.

WRONG. The physical operation of the grid can be separated from the economic decisions of what power is generated, transmitted, and sold at wholesale or retail in terms of quantity, cost, and price. Companies themselves, vertically and horizontally integrated, what might be called electricity majors, is the opportunity cost of the present regulatory regime.…

“After a winter storm in Texas earlier this month left the state’s residents to contend with widespread power outages and skyrocketing electricity prices, William W. Hogan, the architect of the state’s energy market system and a professor at the Harvard Kennedy School, said … the state’s electricity market had ‘worked as designed’ given the conditions.”

“One Texas resident … now owes $16,752 for his energy bill, wiping out his savings. Hogan acknowledged in the Wednesday interview that such situations are ‘terrible.’ Still, he argued the end result could have been much worse.”

– Kennedy School Professor Who Designed Texas’s Energy Market Defends Skyrocketing Prices Following Winter Storm,” The Harvard Crimson (February 26, 2021).

“‘I feel like a caveman,’ said Alexander D. ‘Alex’ Kontoyiannis ’23, describing his experience studying for his organic chemistry midterm Tuesday night.

MasterResource memorialized many of President Trump’s energy and climate speeches. Similarly, we will document major addresses by President Biden on the same subject. The policy activism outlined in Biden’s address below rivals that of Richard Nixon, Gerald Ford, and Jimmy Carter in the annals of “crisis” legislating.

“Today is ‘Climate Day’ at the White House and — which means that today is ‘Jobs Day’ at the White House.  We’re talking about American innovation … the health of our families and cleaner water, cleaner air, and cleaner communities … national security and America leading the world in a clean energy future.”

“The first [executive] order I’m signing is tackling the climate crisis at home and abroad.”

– “Remarks by President Biden Before Signing Executive Actions on Tackling Climate Change, Creating Jobs, and Restoring Scientific Integrity” (January 27, 2021)

Good afternoon, everybody. …