1 of 11/ Energy lies, damn lies, and politicians...Part 1.
This is a non-partisan look at energy sector falsehoods, mis-truths, and outright lies told by politicians, industry participants, environmentalists, and Wall Street analysts.
This is a non-partisan look at energy sector falsehoods, mis-truths, and outright lies told by politicians, industry participants, environmentalists, and Wall Street analysts.
2/ ENERGY LIE: Gasoline prices are high due to “price gouging” and “manipulation” by oil companies (implication: by Big Oil).
3/ TRUTH: This has been investigated many times over many decades and is simply false, nevermind the times WTI has o/p gas w/o anyone decrying low margins. Will Ds go after the c-store chains that actually set local gas px? Big Oil owns only a small % of gas stations in the USA.
4/ ENERGY LIE: Cancelling Keystone XL is why oil prices are high and President Biden is now begging Russia and OPEC+ for more oil. This one is a current R favorite.
5/ TRUTH: KXL was approved but didn’t move forward under Trump. I am highly supportive of a healthy and growing Canadian Oil industry. But the idea that KXL’s recent cancellation (or previous approval) has any bearing on 2021 imports or oil prices is far-fetched.
6/ ENERGY LIE: Cancelling KXL is a victory for climate and the environment. We will give credit to Ds and Enviros for this one.
7/ TRUTH: Rail and Trucks are not banned and is surely worse environmentally than a pipeline. Moreover, higher oil supply from the Middle East and Russia is likely a wash environmentally and worse geopolitically. May God Bless Canadian Oil.
8/ ENERGY LIE: Proactively dealing with methane leaks and flaring is “unfair” and will lead to spiking natural gas prices. Rs and some industry participants get credit for this one.
9/ TRUTH: Technology advancements have significantly improved the quality of leak detention. Eliminating flaring, IMO, will lead to higher industry profitability as full-cycle economics trump “drill-baby-drill” oversupply. This is a solvable climate problem, today. Just do it.
10/ ENERGY LIE: Restricting (or making more difficult) growth in US and Canadian oil supply is important to showing we (US and Canada) are serious about climate. Credit to Ds and Enviros.
11 of 11/ TRUTH: Oil supply and demand are global. Lower NAM oil supply will simply motivate higher rest of world oil supply. Restricting domestic supply will do exactly nothing to reduce domestic or global oil demand. It will make energy security and energy poverty worse.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
