DAILY ON ENERGY: • Utah RepJohnCurtis speaks • New York voters pass $4.2 billion climate bond act • Pennsylvania voters choose gas-friendly Democrats
CURTIS SPEAKS: Republicans say the war in Ukraine and accompanying energy crisis in Europe make their promotion of more U.S.-produced oil and gas as a climate change solution even more compelling to participants at COP27 in Egypt.
In their response to the price crisis, European governments have been advocating for more renewables to insulate consumers from volatile commodity markets, but they’ve also been working to get more fossil fuels from friendly nations to replace Russian molecules.Curtis argued the market instability in Europe, along with its turn back to coal and more natural gas, show the Europeans were unduly confident in the durability of their energy policy when the war started.
Outnumbered: Curtis and company know they will be outliers at the climate summit, where the message from leaders like Antonio Guterres, secretary general of the United Nations, is one of urgency about cutting fossil fuel use and global emissions levels.For many climate change hawks, even an expansion of relatively cleaner natural gas to displace coal use is inconsistent with reducing emissions at a necessary pace.
It was the largest borrowing referendum on ballots nationwide in this year’s midterm elections, and among the largest ESG investments ever passed by a state. Their wins have major implications for energy policy. Fetterman could be a moderating force in a Democrat-controlled Senate, where the party wants to move more climate change-related legislation, and could face votes that would impose new regulations on oil and gas.
“Policies that obstruct natural gas infrastructure development will continue to cause price spikes in a region already facing some of the highest prices in the nation,” Andryszak wrote in a letter to Biden Monday. Birol told Reuters he was surprised by the OPEC+ production cuts, and noted that in the past, the cartel of oil-producing nations had taken steps to calm markets and not add to volatility.
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