A few weeks ago, the New York Times published an article that not-so-subtly takes the side of 35 Senators and 62 institutional investors who want the Securities and Exchange Commission (S.E.C.) to force fossil-energy companies to confess their unsustainability in a carbon-constrained world.
It’s the old self-fulfilling prophesy trick. Adopt lawless regulations aimed at bankrupting fossil-energy companies, lock in those regulations through a non-ratified treaty that dare not speak its name, then coerce those companies into scaring away shareholders, and presto, many will in fact go bankrupt. As their numbers and resources decline, so will their ability to defend themselves against further regulatory attack.
Translating into Borg-speak: “Freedom is irrelevant. Constitution is irrelevant. Your economy will adapt to service us.”
But resistance is not futile. Fossil fuels remain the world’s most affordable energy source for poverty eradication. What’s truly unsustainable is the green project to put an energy-starved world on an energy diet.
The Supreme Court just handed Obama and the EPA a major setback. And for all we know at this point, the next President and Congress will thwart EPA’s Power Grab and Obama’s attempt to bypass Senate review of the Paris climate treaty.
I wrote a short letter to the Times on the S.E.C. article. The editor did not publish it, so I will post it here. [click to continue…]