Is The Anti-Oil Movement Installing The Next Recession?

Is The Anti-Oil Movement Installing The Next Recession?

Attention my fellow Americans and all energy consumers of the world.

From politicians to environmental groups to even some on Wall Street demanding ESG at all costs, it seems everywhere that we turn we keep hearing that new investment in oil and natural gas is simply unwarranted and unwanted.

They proclaim that more investment in the production and transport of oil and gas is an affront to our climate change goals and will simply "lock us“ into more usage.

While this position might seem extreme, it is becoming more common than logic would dictate but has an obvious gigantic hole: oil (37%) and natural gas (33%) supply 70% of the energy used in the U.S.

Let me focus here on oil, given the worsening misconceptions out there on what is still our most vital source of energy, entrenched as the sine qua non of globalization without any material substitute whatsoever.

The timing is clearly right: now at their highest in 13 months, U.S. WTI oil prices have been rising toward $60 per barrel, with international benchmark Brent at $63.

More renewables will not displace "black gold“ nearly as much as some what you to believe.

Even a immense boom in wind farms and solar panels, for instance,