CITY JOURNAL……. The European Union has decided to tax imports with a “carbon border adjustment mechanism.” Intended to accelerate global reductions in carbon-dioxide emissions, the policy will instead inflate the cost of everything Europeans buy. Two basic facts about imports in Europe will drive the policy’s inflationary effects.
REAL CLEAR MARKETS ……… It’s the time of year for annual retrospectives. On the energy front, the electric vehicle (EV) was at the top of obsessions for 2022. Claims of an “inevitable” and “accelerating” proliferation of “zero emissions” EVs emboldened policymakers around the world to enact legislation to outright ban cars with internal combustion engines.
NEW YORK POST ……… I’m going to go out on a limb with a year-end prediction. The old joke in the physics community is still true: Fusion is always 50 years away. That detracts nothing from the news of an awesome scientific accomplishment from the Department of Energy’s Lawrence Livermore National Laboratory (LLNL).
WALL STREET JOURNAL ……….Bravo to Nick Stork and Joe Malchow (“One Man’s Trash Is Another’s Clean Fuel,” op-ed, Nov. 21) for endorsing an energy “price system untouched by government.” But in their otherwise sensible case for a bright energy future, they make a fundamental mistake by repeating a pernicious analogy: “The energy future may mirror…
CITY JOURNAL ……… A remarkable political consensus has emerged: the world needs more oil. Confirmation of that reality didn’t come from any oil executive but from President Biden, who recently admonished U.S. oil companies “to deploy these record-breaking profits to increase production.”
CITY JOURNAL …….. Wars are fought on many fronts. So far, Russian president Vladimir Putin is winning the energy war. High energy prices, triggered by supply disruptions, have neutered Western sanctions. Russia’s current account balance stands at record highs.