Energy Talking Points by Alex Epstein

The EPA just announced it’s challenging the single most destructive regulatory action in US history: the “endangerment finding.”

This bogus “finding” allowed Obama and Biden to ban gas cars, shut down power plants, slow US oil growth, and lock up our limitless natural gas.

• Ever wonder why the Biden EPA was able to become an economic dictator, prohibiting most Americans from buying a gas car after 2032 and effectively banning all coal plants and new natural gas plants after 2039?

  It started with the Obama EPA’s bogus “endangerment finding.”¹

• In 2009, the Obama EPA issued a “finding” that GHGs “endanger both the public health and the public welfare of current and future generations.”

  But GHGs mostly come from fossil fuels, which on net had clearly been enhancing health and welfare—and would continue doing so.²

• Since human beings began harnessing uniquely cost-effective energy from fossil fuels, human health and welfare have increased dramatically everywhere.

  Why? Because the benefits of cheap, reliable energy for billions far outweigh any negative side-effects of fossil fuels.³

• Before and since the “endangerment finding,” which is supposedly about reducing climate danger, fossil fuels have on net made us far safer from climate danger by creating incredible climate resilience.

  That’s why climate disaster deaths have declined 98% over 100 years!⁴

• In considering whether fossil fuels’ GHGs “endanger” us and thus should be restricted, EPA should have considered

  1. Overall benefits of fossil fuels
  2. Climate resilience benefits of fossil fuels
  3. Both positive and negative climate impacts of GHGs

  EPA failed on all 3 counts.

• The “endangerment finding” was particularly inane because it concluded that the US restricting US GHG emissions would accomplish anything globally—when in fact all it accomplished was harming us and offshoring industry to China, which now has 300+ new coal plants in the pipeline!⁵
• By falsely claiming that fossil fuels “endanger” human health, welfare, and climate safety when they were—and have continued to be—a net benefit, EPA has justified giving itself totalitarian powers that, if not stopped, will crater the US economy.
• Drawing on its bogus “endangerment” finding, the Biden EPA passed GHG rules that effectively ban all coal plants and new natural gas plants—by requiring them to capture at least 90% of GHGs, which no plant has ever done at all, let alone cost-effectively.

  How EPA’s power plant rule will destroy our grid

  Alex Epstein · May 22, 2024

  4 reasons EPA’s power plant rule will destroy our grid:

  Read full story

• Drawing on its bogus “endangerment” finding, the Biden EPA passed “fuel economy standards” that would prevent more than 50% of Americans from buying a gasoline-powered vehicle after 2032—a complete violation of American freedom.⁶
• Drawing on the bogus “endangerment” finding, the Biden EPA and administration as a whole waged a “whole of government” war on fossil fuels that, if not reversed, will crater our entire economy—which has no near-term replacement for fossil fuels.⁷
• The Trump administration, especially EPA Administrator Lee Zeldin, will be attacked relentlessly for challenging the bogus “endangerment finding”—but they should be praised for being willing to take on the most destructive regulatory action in American history.

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New Alberta reserves study finds Alberta’s gas reserves have increased six-fold, moving Canada’s gas reserves into the top 10 globally.

Alberta has always been a giant when it comes to natural gas, but after looking carefully at the Montney, Duvernay and the Deep Basin, new data has identified that the total gas resource in ground exceeds 1,360 trillion cubic feet (TCF). Of this, 130TCF is proved and recoverable gas reserves. For comparison, the latest U.S. government reserve number, using comparable methodologies, for Texas natural gas is 170TCF.

Adding these new gas reserves to other provinces’ reserves sees Canada’s overall gas number more than double and results in Canada’s ranking moving from number 15 to number nine globally.

When it comes to oil reserves, Alberta remains a titan with a total resource in ground number of 1.8 trillion barrels. Oilsands proven reserves are more than 165 billion recoverable barrels and there is other growth. For example, new opportunities like the Clearwater basin which has almost two billion barrels of new reserves. For comparison, Texas’ proved oil reserves sit at 20 billion barrels.

Alberta’s global ranking for oil has not changed, however the increase of seven billion additional proved barrels does result in extending the province’s total years of overall oil supply to 137 years.

“Alberta’s responsible energy sector has embraced technology and innovation, and these advancements have allowed us to unlock material gas reserves that were previously not accounted for. While other jurisdictions could face inventory concerns in the future, Alberta’s reserves will be essential for North America to continue accessing affordable energy.”

“This announcement reinforces that Alberta has the reserves needed to enhance long-term energy security for our trading partners. With vast amounts of gas, oil and liquids, Alberta’s energy sector is ready and willing to work with our U.S. partners to achieve global energy security.”

The study to review Alberta’s natural gas and oil reserves was commissioned by the Alberta Energy Regulator and was conducted by McDaniel and Associates Consultants. McDaniel is still completing this work and a final number for all fields and growth areas will be completed in the coming weeks.

“The continued expansion of Alberta’s reserves offers immense potential for long-term energy security, ensuring a reliable source of energy to support both domestic needs and international markets.”

Alberta’s government is working closely with industry to determine all options for egress to market in support of our aspiration to double Alberta’s oil and gas production.

Faced with uncertainty around trade and security, Alberta’s government remains focused on diplomacy and continuing to build a resilient and diversified economy that is better positioned to withstand external shocks and ensure long-term prosperity.

Background

• Reserves are the most accurate measure of a jurisdiction’s future oil and gas potential. McDaniel and the Alberta Energy Regulator use the Canadian Oil and Gas Evaluation Handbook methodology to perform reserve studies.
• Reserves are estimated volumes of hydrocarbon resources that analysis of geologic and engineering data demonstrates with reasonable certainty are recoverable under existing economic and operating conditions. Reserves estimates change from year to year because of:
  • price and cost changes
  • new discoveries
  • thorough appraisals of existing fields
  • existing reserves production
  • new and improved production techniques and technologies

Quick facts

• In 2023, Alberta produced 10.9 billion cubic feet per day (bcf/d) of natural gas. This was 61 per cent of Canadian natural gas production in 2023.
• Alberta is also the largest supplier of natural gas to the U.S. In 2023, Alberta exported 4.54 bcf/d to the U.S.
• Alberta oil directly supports more than 50 U.S.-based refineries with direct investment in more than 20 U.S. states, and is essential to affordability, growth, economic prosperity and energy security in the U.S.
• The U.S. Midwest continues to be the largest market for Canadian crude oil, followed by the U.S. Gulf Coast.
• As 2025 began, U.S. imports of crude oil from Canada reached a weekly record 4.42 million barrels per day, with the majority supplied by Alberta.