Posted on 10/28/2022 8:44:17 PM PDT by SeekAndFind
Calls for Biden to socialize industry have moved quickly from fringe to mainstream...
The energy crisis is worsening. The U.S. has fewer than 30 days of diesel and other distillate fuels, the lowest level since 1945. Supplies are so low that there will be shortages and price spikes within six months unless the U.S. enters recession, experts warn. In response, the Biden administration is releasing more oil from the Strategic Petroleum Reserve. But the reserves are of crude oil, not refined oil products such as diesel. And the releases are stifling investment in future oil production. “People are depleting their emergency stocks,” warned Saudi Arabia’s energy minister earlier this week. “Losing emergency stocks may become painful in the months to come.”
In response, influential Democrats, including a leading U.S. Senate candidate, a former Department of Energy official, and an influential energy expert, are urging the U.S. government to socialize America’s oil and gas firms.
At a Houston conference last week, Jason Bordoff, Dean of Columbia University’s Climate School, called for the “nationalization” of oil and gas companies. “Government must take an active role in owning assets that will become stranded,” he said, “and plan to strand those assets.” By “strand” Bordoff meant “make financially worthless.” Bordoff made the point at least twice during the confrerence. Bordoff’s call shocked many in the audience. “Jason is smart, well-informed, and well-connected to the Biden Administration,” said someone who was at the conference, “so these comments are scary.”
Democratic U.S. Senate Candidate from Wisconsin Tom Nelson (left) and energy expert Jason Bordoff (right) are urging the Biden administration to nationalize U.S. oil and gas companies.
The calls come on the heels of two other Democrat-led efforts to expand U.S. government control over oil and gas production.
One is a piece of legislation called “NOPEC,” which passed the Senate Judiciary Committee in May.
The bill would change U.S. antitrust law to revoke a policy of sovereign immunity, which protects OPEC+ members from lawsuits. If NOPEC became law, the U.S. attorney general could sue Saudi Arabia and other OPEC members in court. The result could be a disruption of global supplies of oil and other commodities if nations retaliated against the U.S.
The other is an effort led by Treasury Secretary Janet Yellen to cap the price of Russian oil sold on global markets, which I and many other experts have warned since June is unworkable, because China and India have said they would circumvent it, and could backfire, resulting in far higher oil prices.
Last week, analysts with Rapidan Energy told the same Houston conference that the December 5 implementation of the Russian price cap could reduce global supplies of oil by 1.5 million barrels per day. Such an amount would create an oil price shock.
Earlier this month, Bordoff told the World Economic Forum, which has called for a “Great Reset” to quickly move from fossil fuels to renewables, that climate change required a “massive transition” that is “going to be messy, it’s going to be disruptive.”
Said Bordoff, “I think part of the broader macro environment that's happening now is one of more disruptive change because of climate impacts, but also more disruptive change because of geopolitics coming out of the pandemic, coming out of this conflict, completely rethinking what the World Economic Forum is all about.”
Bordoff then sounded an even darker note...
* * *
Said Bordoff, “I think part of the broader macro environment that’s happening now is one of more disruptive change because of climate impacts, but also more disruptive change because of geopolitics coming out of the pandemic, coming out of this conflict, completely rethinking what the World Economic Forum is all about.”
BBC WAS PUSHING THE FOLLOWING REPORT ALL WEEK AND SAID, AT ONE POINT, PHASING OUT DAIRY AND MEAT NEEDS TO SPEED UP.
Download full report (PDF)
The Breakthrough Agenda Report 2022
This report by IRENA, IEA and and the UN Climate Change High-Level Champions is focused on supporting stronger international collaboration to drive reductions in global greenhouse gas emissions.
This is a first-of-its-kind annual progress report, requested by world leaders at the UN Climate Change Conference COP26 in November 2021 as part of the launch of the Breakthrough Agenda...
(page 147 of 183) Companies, with support from governments, will need to develop inexpensive,
alternatives proteins that mimic the taste and texture of consuming meat, dairy or eggs...
(page 153 of 183) Alternative proteins – to replace or reduce meat, dairy, and eggs from ruminants and other livestock in the human diet – could be a particularly high leverage way to reduce emissions...
https://www.irena.org/publications/2022/Sep/Breakthrough-Agenda-Report-2022
besides, ACTIVE TRANSPORT doesn’t need oil or gas!
United Nations: World Bicycle Day 3 June
According to the World Health Organization (WHO), safe infrastructure for walking and cycling is also a pathway for achieving greater health equity. For the poorest urban sector, who often cannot afford private vehicles, walking and cycling can provide a form of transport while reducing the risk of heart disease, stroke, certain cancers, diabetes, and even death. Accordingly, improved ACTIVE TRANSPORT is not only healthy; it is also equitable and cost-effective.
Meeting the needs of people who walk and cycle continues to be a critical part of the mobility solution for helping cities de-couple population growth from increased emissions, and to improve air quality and road safety. The COVID-19 pandemic has also led many cities to rethink their transport systems...
https://www.un.org/en/observances/bicycle-day
“if they nationalize then they lose the demon to blame.”
That’s one big reason the DC hates Trump so much.
They like to have issues to pick at so they remain a running sore.
Trump likes to resolve issues and move on.
Meanwhile, trust the climate oligarchs to find private profit in public policy. They, of course, think that the die-off won't happen to them. They'll survive in their bunkers. For a year or two. Then when they come out they'll find that the economy that made them rich is gone, and they'll be foraging for food like animals. Which they won't know how to do.
Gee, I sure would HATE IT if this 2 minute video went VIRAL this close to the mid-terms!
https://www.bitchute.com/video/OaHWWgb437j8/
..... Yup .... The only way to prevent them from making such evil profits is for the government to follow the example of Venezuela and take them over and blissfully run the companies and sell the oil and gas at cost .....
..... Well ... With all of thenew federal taxes that will be heaped upon the cost to pay for all of the brand new federal programs that will suddenly emerge .....
.
It worked so well in Venezuela..... /s
Oil & gas, then iron & steel, then the automotive industry...
All will go the way of the healthcare and education industries...
The communists’ plans are working out very nicely, with absolutely no discernible real resistance from the American serfs...
Short-term events, like the coming midterms, are not a significant problem to their long-term strategies that have been in play for over 100 years...
The GOP will continue to yell & scream and surrender through compromise as they have done while both in control of the government and as spineless weasel while out of control of the government...
GOP presidents like Nixon (68-74) and Bush (2000-2008) are classic examples...
Americans lost more freedom under these two wimpy weasels than they did under FDR...
They rank with Marxist scum like T.R, Wilson, Obama, & Biden as heroes of the long communist march to gain control of the U.S...
If they nationalize Big Oil then the Democrat Party will be Big Oil.
Every energy related problem from then on would be Super Glued to them.
I realize they are getting up there in years, but surely they can remember Venezuela?
Absolutely insane and probably Unconstitutional, and no way to pass such a vote.
Just a taste of the horror they will bring once they have solid control.
They obviously would destroy the industry.
The demon only changes. Republicans will be blamed for not enthusiastically getting on board.
Instead of 25 days supply, we’ll have 25 minutes.
Stupidest idea ever
When will people vote for businessmen and not goofy schoolteachers and poets?
What, they think he isn’t destroying the entire economy and society fast enough?????
We will have ration stamps for fuel.
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