Rather than causing disparate groups to come together to recognize the importance of all forms of energy, oil prices have resulted in some pushing harder for oil and gas and others pressing harder for solar, wind and batteries. This is a false dichotomy. Both are needed.
Before instituting sweeping policies that risk creating costs and distortions worse than the supply disruptions and Chinese dependence they aim to solve, Washington needs to weigh the benefits of intervention against its costs.
Governments shouldn’t determine which forms of energy are “good” or “bad,” using subsidies and mandates to boost the good while imposing restrictions to hobble the bad. Instead, decisions about the fuel mix should be left to the market as much as possible.
The risks posed by this concentration are worth taking seriously. The problem is that these tools may force taxpayers to take on unnecessary risk—leaving them stuck with the bill if the companies fail—without addressing the underlying problem.
Congress is running short on time to pass a comprehensive permitting reform package before the lame duck this fall. On the table awaiting votes are bills reforming the National Environmental Policy Act, Endangered Species Act, and Clean Air Act. The National Historic Preservation Act, which has recently gained traction as a permitting barrier to projects, has received comparatively little attention in Congress.
Heading into the August recess, policymakers continue to hash out the details of a comprehensive permitting bill in hopes of sending it to President Trump’s desk this Congress. There is bipartisan recognition that permitting reform is essential to improving energy affordability and reliability, and to meeting our environmental ambitions. As the discussions on Capitol Hill evolve, one law starting to receive more attention for reform is the National Historic Preservation Act (NHPA).
Americans are exhausted by the cost of living—and energy sits at the heart of it. Recently published research by Kevin Dayaratna and Kat Miller at Advancing American Freedom (AAF) analyzing worldwide data finds that robust energy production is directly tied to higher incomes, greater productivity, longer life expectancy, and lower child mortality. The reality is stark: no country has ever achieved high living standards without substantial energy use.
Trade tensions between the U.S. and China continue to escalate, and rare earths remain a central pawn, despite an apparent agreement reached last month, in which China would address U.S. concerns over shortages of rare earths and other critical minerals. Earlier this week, China added 10 companies to its export control list, banning exports of dual-use rare earths to firms it says are tied to the U.S. military. The move was a response to Washington’s decision earlier this month to add new companies, including large Chinese firms such as Alibaba and Baidu, to a list of entities it says assist the Chinese military, a designation that restricts their access to U.S. technology and trade.
Critical minerals have become a marquee issue in Washington over the past several years, driven by growing concern that the United States and its allies depend too heavily on China for materials that are indispensable to both the civilian economy and the defense industry.
The United States is the most energy-rich nation on earth. We have motivated capital, human ingenuity, a wide range of resources, and innovative technologies. With unprecedented energy demand needed in the next few years, the United States needs more power generation, more pipelines, and transmission lines.
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