Energy
How global warming saves more people than it dooms

From Energy Talking Points by Alex Epstein
This is Part 3 of a 4 part feature where I cover 4 of the top energy issues that will be discussed this summer, especially as politicians return home for August Recess.
Warmer temperatures are less of a threat than cold ones, and fossil fuels make us safer from both.
- Anti-fossil fuel politicians love summer because hot temperatures give them the opportunity to portray the world as “on fire”—and offering anti-fossil-fuel policies as a solution.In reality, cold is a bigger problem than heat—and anti-fossil-fuel policies make both worse.¹
- Anyone commentating responsibly on summer temperatures must acknowledge 3 facts:1. Heat-related deaths are far less prevalent than cold-related deaths
2. Earth is warming slowly—especially in warm places
3. Fossil fuels make us safer from both cold and heat
- 1. Heat-related deaths < cold-related deaths
When our leaders discuss the warming of the planet, they treat warming as obviously bad. But while they portray the planet as already “too hot,” the fact is that far more human beings die of cold than of heat.²
- Study after study has found that deaths from cold outnumber deaths from heat by 5-15 times. On every continent cold is more dangerous than heat. Even in many countries we think of as especially hot, such as India, cold-related deaths significantly exceed heat-related deaths.³
- 2. Earth is warming slowly—especially in warm places
So far we’ve had ~1°C of warming from a cold starting point in Earth’s history 150 years ago. Future warming will be limited by the diminishing nature of “the greenhouse effect”—as well as being concentrated in colder places.⁴
- Warming so far has been slow and benign. But will future warming make the world unlivably hot? No, given 2 facts almost universally acknowledged by climate scientists: 1) the diminishing warming impact of CO2 and 2) the concentration of warming in colder places.
- The warming impact of CO2 diminishes (“logarithmically”) as it increases in concentration.Every new molecule of CO2 we add to the atmosphere has less of a warming effect than the previous one. Warming will diminish as emissions increase—the only question is at what rate.⁵
- Climate warming is concentrated in colder areas of the world (such as the Arctic), during colder times of day, and during colder seasons.This means that future warming will occur more in cold situations where it saves lives than in hot situations where it causes problems.⁶
- All reporting on the warming of the Earth should specify not only that humans are far more endangered by cold than by heat, but also that Earth is warming slowly—and less in warm places. That virtually no reporting acknowledges this shows that much “reporting” is propaganda.
- 3. Fossil fuels make us safer from dangerous temperatures
Not only is the warming from fossil fuels’ CO2 emissions slow and in many ways beneficial, the uniquely cost-effective energy we get from fossil fuels makes us both safer from cold and heat.
- The key to being protected from dangerous temperatures is to master them by producing different forms of temperature protection, such as: insulated buildings, heating, and air-conditioning. All of these things require energy—which means for most people they require fossil fuels.
- Fossil fuels are the only source of low-cost, reliable energy that for the foreseeable future can provide energy to billions—in a world where 3 billion people still use less electricity than a typical American refrigerator.⁷
- On a planet where people die much more from cold than from heat, but both are major threats, the key to safety is to have energy be as affordable and plentiful as possible so as many as possible can afford heating and air conditioning. For now this means more fossil fuels.
- People who blaming pro-fossil-fuel politicians for hot temperatures evade that:1. Cold is more dangerous than heat
2. Warming is slow, especially in warm places
3. We need fossil fuels to protect us from cold and heat
- Reducing CO2 emissions in a humane and practical way means focusing on liberating alternatives—especially the most potent, nuclear—to try to truly outcompete fossil fuels in the future. Depriving us off fossil fuels now and pretending China will follow is immoral and impractical.
Popular links
- EnergyTalkingPoints.com: Hundreds of concise, powerful, well-referenced talking points on energy, environmental, and climate issues.
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- Speaking and media inquiries
“Energy Talking Points by Alex Epstein” is my free Substack newsletter designed to give as many people as possible access to concise, powerful, well-referenced talking points on the latest energy, environmental, and climate issues from a pro-human, pro-energy perspective.
Banks
Wall Street Clings To Green Coercion As Trump Unleashes American Energy

From the Daily Caller News Foundation
By Jason Isaac
The Trump administration’s recent move to revoke Biden-era restrictions on energy development in Alaska’s North Slope—especially in the Arctic National Wildlife Refuge (ANWR)—is a long-overdue correction that prioritizes American prosperity and energy security. This regulatory reset rightly acknowledges what Alaska’s Native communities have long known: responsible energy development offers a path to economic empowerment and self-determination.
But while Washington’s red tape may be unraveling, a more insidious blockade remains firmly in place: Wall Street.
Despite the Trump administration’s restoration of rational permitting processes, major banks and insurance companies continue to collude in starving projects of the capital and risk management services they need. The left’s “debanking” strategy—originally a tactic to pressure gun makers and disfavored industries—is now being weaponized against American energy companies operating in ANWR and similar regions.
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This quiet embargo began years ago, when JPMorgan Chase, America’s largest bank, declared in 2020 that it would no longer fund oil and gas development in the Arctic, including ANWR. Others quickly followed: Goldman Sachs, Wells Fargo, and Citigroup now all reject Arctic energy projects—effectively shutting down access to capital for an entire region.
Insurers have joined the pile-on. Swiss Re, AIG, and AXIS Capital all publicly stated they would no longer insure drilling in ANWR. In 2023, Chubb became the first U.S.-based insurer to formalize its Arctic ban.
These policies are not merely misguided—they are dangerous. They hand America’s energy future over to OPEC, China, and hostile regimes. They reduce competition, drive up prices, and kneecap the very domestic production that once made the U.S. energy independent.
This isn’t just a theoretical concern. I’ve experienced this discrimination firsthand.
In February 2025, The Hartford notified the American Energy Institute—an educational nonprofit I lead—that it would not renew our insurance policy. The reason? Not risk. Not claims. Not underwriting. The Hartford cited our Facebook page.
“The reason for nonrenewal is we have learned from your Facebook page that your operations include Trade association involved in promoting social/political causes related to energy production. This is not an acceptable exposure under The Hartford’s Small Commercial business segment’s guidelines.”
That’s a direct quote from their nonrenewal notice.
Let’s be clear: The Hartford didn’t drop us for anything we did—they dropped us for what we believe. Our unacceptable “exposure” is telling the truth about the importance of affordable and reliable energy to modern life, and standing up to ESG orthodoxy. We are being punished not for risk, but for advocacy.
This is financial discrimination, pure and simple. What we’re seeing is the private-sector enforcement of political ideology through the strategic denial of access to financial services. It’s ESG—Environmental, Social, and Governance—gone full Orwell.
Banks, insurers, and asset managers may claim these decisions are about “climate risk,” but they rarely apply the same scrutiny to regimes like Venezuela or China, where environmental and human rights abuses are rampant. The issue is not risk. The issue is control.
By shutting out projects in ANWR, Wall Street ensures that even if federal regulators step back, their ESG-aligned agenda still moves forward—through corporate pressure, shareholder resolutions, and selective financial access. This is how ideology replaces democracy.
While the Trump administration deserves praise for removing federal barriers, the fight for energy freedom continues. Policymakers must hold financial institutions accountable for ideological discrimination and protect access to banking and insurance services for all lawful businesses.
Texas has already taken steps by divesting from anti-energy financial firms. Other states should follow, enforcing anti-discrimination laws and leveraging state contracts to ensure fair treatment.
But public pressure matters too. Americans need to know what’s happening behind the curtain of ESG. The green financial complex is not just virtue-signaling—it’s a form of economic coercion designed to override public policy and undermine U.S. sovereignty.
The regulatory shackles may be coming off, but the private-sector blockade remains. As long as banks and insurers collude to deny access to capital and risk protection for projects in ANWR and beyond, America’s energy independence will remain under threat.
We need to call out this hypocrisy. We need to expose it. And we need to fight it—before we lose not just our energy freedom, but our economic prosperity.
The Honorable Jason Isaac is the Founder and CEO of the American Energy Institute. He previously served four terms in the Texas House of Representatives.
Daily Caller
‘Drill, Baby, Drill’ Or $50 Oil — Trump Can’t Have Both

From the Daily Caller News Foundation
By David Blackmon
President Donald Trump has often made clear his goal of cutting prices for energy as part of his overall agenda to break the back of chronic inflation left behind by the Biden presidency. When talking about this goal, the president has placed special emphasis on lowering the price of crude oil, given its integral relationship to gas prices at the pump and transportation-related costs which go into the price of food, clothing and other consumer goods.
“A very big thing that I’m very happy with is oil is down,” Trump said in remarks in the Oval Office on Wednesday. “We’re getting that down. When energy comes down, prices are going to be coming down with it. So, in a very short period of time, we’ve done a very good job.”
White House advisor Peter Navarro has been quoted by The New York Times and other media outlets as saying that an average oil price of $50 per barrel would help tame inflation and set the stage for a return to a healthier economy. If that is indeed the goal, this week’s confluence of events, featuring a bigger-than-expected increase in oil production quotas from the OPEC+ oil cartel preceded less than 24 hours earlier by the president’s announced reciprocal tariffs on a wide array of countries went a long way to doing the trick.
Just prior to Trump’s tariff announcement Wednesday afternoon, the price for West Texas Intermediate crude stood at $70/bbl. Less than 48 hours later, the price had fallen below $61, a drop of about 15%. It was the largest 2-day decline in crude prices since 2021. How much of the price decrease is due to the tariffs as opposed to the OPEC+ agreement to pour another 137,000 barrels per day onto the international market is hard to know, but there is no doubt both actions had an impact.
As I’ve noted previously, this action to force lower prices for oil and natural gas lies directly at odds with the concurrent Trump “drill, baby, drill” objective which he sees as a key part of his American Energy Dominance agenda. The White House gave a nod to the oil refining segment in the Wednesday tariff announcement by exempting energy imports, another action at least in part aimed at lowering prices for gasoline and diesel fuel.
But that nod to the downstream segment does little for upstream companies who have seen supply chain muck-ups and Biden-era inflation raise break-even prices above Friday’s levels. The Q1 2025 Energy Survey Report published March 26 by the Dallas Federal Reserve estimates that drillers in the Permian Basin require a $61 oil price just to break even on drilling new shale wells. The needed breakeven price rises higher in other, less prolific basins. CNN quoted independent oil analyst Andy Lipow as saying that many upstream companies require prices closer to Monday’s $71/bbl level for new shale wells. It almost goes without saying that operators will have little incentive to “drill, baby, drill” if they stand to lose money doing it.
In an interview with Fox Business host Stu Varney on Tuesday, Energy Secretary Chris Wright, himself a former oil industry executive, said, “If your state has expensive energy, it’s because of choices made by politicians in those states to virtue signal somehow they’re on some global mission. They’re going to solve climate change by making your utility bills more expensive and your businesses want to relocate out of the states. That’s just nonsense.” He added that Trump was pursuing energy policies based on common sense, saying, “common sense will deliver more investment in our country and lower energy prices.”
No doubt, few executives in the industry would agree that a pursuit of $50 oil prices has anything to do with common sense for their companies. If prices should drop that far and linger there for any length of time, layoffs and idled drilling rigs will become the prevailing topic of the day in oil and gas.
So, while the White House might continue touting its “drill, baby, drill” slogan for the time being, we won’t hear it echoing through the barbecue and Tex-Mex joints in Midland, Texas, for the time being.
David Blackmon is an energy writer and consultant based in Texas. He spent 40 years in the oil and gas business, where he specialized in public policy and communications.
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