Three and a half years into the Biden Administration, and to an ordinary citizen on the ground it might seem like not that much has changed as to energy. Despite hundreds of government actions and initiative in an all-of-government regulatory onslaught to transform the energy economy, the important things have been remarkable stable. Production of oil and gas are actually up, and prices increases have been relatively modest — far less than one might have anticipated from the extreme regulatory hostility to production. The percentage of what is called “primary energy” (that is, energy for everything, not just electricity) coming...