The modern economy runs on energy. Even the most devout green energy proponents concede that their anti-natural gas projects will generate many nasty effects once fully implemented.
Bad economic effects and reductions in people’s livelihoods has still not deterred the Left from pursuing political projects that ruin people’s standards of living. In fact, Russia’s invasion of Ukraine has galvanized the pro-green energy movement.
They believe that Russia’s malign geoeconomic influence makes it necessary for the US to ditch oil & gas and shift towards renewable energy sources.
At the Rebel Capitalist, we don’t take a particular side on what energy source is the best. We’re consummate capitalists in how we believe that individuals in the marketplace ultimately determine what energy sources they’ll use. Bureaucrats, politicians, or Ivory Tower dwellers don’t determine that.
The ruling class doesn’t get this uncomfortable fact about energy markets. Instead, they insist that we throw more money at green energy projects and de facto ban non-renewable energy sources and vehicles that use non-renewables.
It’s that bad. Oil and natural gas literally keeps the lights on and undergirds so much economic activity. Any type of move towards less inefficient energy sources will result in a reduction of living standards. Full stop.
Moreover, US competitors such as Russia will have an advantage using one of the most proven forms of energy resources (non-renewables) and continue to grow economically without many hiccups.
In effect, the US is giving itself a self-inflicted energy wound. The US cannot afford to hamstring itself like that in a multipolar world where its competitors are vigorously competing for influence and looking for every advantage possible in order to win.