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International Energy Agency should go on Trump’s Chopping Block

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French President Macron has called the IEA the ‘armed wing for implementing the Paris Agreement

 

From the Daily Caller News Foundation

By David Blackmon

Among the many promises and commitments that he has made during his ongoing transition period, President-elect Donald Trump has pledged to pull U.S. support for the World Health Organization and cancel its commitments related to the 2015 Paris Climate Agreement. If a new report issued this week by the Senate Committee on Energy and Natural Resources and incoming chairman Republican Wyoming Sen. John Barrasso, is any guide, Trump perhaps should add U.S. support for the International Energy Agency to his growing list of cancellation opportunities.

“French President Macron’s observation that IEA has become the ‘armed wing for implementing the Paris Agreement’ is regrettably true,” said the report. “With the many serious energy security challenges facing the world, however, IEA should not be a partisan cheerleader. What the world needs from IEA—and what it is not receiving now—is sober and unbiased analyses and projections that educate and inform policymakers and investors. IEA needs to remember why it was established and return to its energy security mission.”

The IEA was established in 1974 in response to the first Arab Oil Embargo which resulted in dramatically higher prices for crude oil and gasoline at the pump. Originally supported by 31 member countries including the United States, the agency’s mission was to provide accurate information related to global oil supply and demand which subscribing countries could use to help form effective energy policies. That original mission held firm for decades, during which the IEA was widely considered a leading source of real, unbiased energy information.

But politics tends to corrupt everything it touches, and the IEA has unfortunately proved to be no exception to that rule. As the politics surrounding climate alarmism rose to new highs following the signing of the Paris Climate Agreement, the agency came under increasing pressure to radically alter its mission from that of a provider of real information worthy of trust to more of an activist posture.

In 2020, the report notes, this led to a shift in the IEA’s mission statement and to a new design to its modeling processes that form the basis for its annual World Energy Outlook. As its modeling base case, the agency abandoned its longstanding Current Policies Scenario, which Barrasso’s report describes as “essentially a ‘business as usual’ reference case,” in favor of a more aggressive Stated Policies Scenario.

Barrasso’s report describes this new scenario as “a hypothetical outlook based on unimplemented policies and grounded in unrealistically optimistic assumptions about the pace and scale of the transformation, especially concerning the adoption of electric vehicles by consumers.” It is an approach intentionally designed to introduce bias into the modeling process, and thus into the IEA policy recommendations for which the modeling process serves as the foundation.

This inevitable bias had an immediate and very noticeable effect. In a report published by the IEA in May 2021 Executive Director Fatih Birol laughably stated that “there will not be a need for new investments in oil and gas fields” and urged oil and gas producers to halt investments in exploration and development of new oil reserves. But that was before oil prices exploded as global demand exceeded supply during the recovery from the COVID pandemic, and by August Birol had completely reversed himself, joining President Joe Biden in a desperate call for more oil drilling to help resolve the situation.

Obviously, this sort of flip-floppery does severe damage to the agency’s already crumbling credibility as well as to the justification for governments to continue pouring millions of dollars into its operations each year. Barrasso’s report correctly notes that the IEA’s “reputation has lost its luster.”

Barrasso’s report is blunt about the kinds of reforms he would like to see at the IEA, urging Birol to abandon its advocacy posturing against investments in oil, natural gas, and coal, and to “once again produce for its World Energy Outlook a real unbiased, policy-neutral ‘business as usual’ reference case of the kind the Energy Information Administration produces.”

The Wyoming senator stops short of calling for the U.S. defunding of the IEA, but the agency’s currency is information. If that currency has lost its value, then perhaps Trump should consider a more aggressive approach.

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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‘Time To Make The Patient Better’: JD Vance Says ‘Big Transition’ Coming To American Economic Policy

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JD Vance on “Rob Schmitt Tonight” discussing tariff results

 

From the Daily Caller News Foundation

By Hailey Gomez

Vice President JD Vance said Thursday on Newsmax that he believes Americans will “reap the benefits” of the economy as the Trump administration makes a “big transition” on tariffs.

The Dow Jones Industrial Average dropped 1,679.39 points on Thursday, just a day after President Donald Trump announced reciprocal tariffs against nations charging imports from the U.S. On “Rob Schmitt Tonight,” Schmitt asked Vance about the stock market hit, asking how the White House felt about the “Liberation Day” move.

“We’re feeling good. Look, I frankly thought in some ways it could be worse in the markets, because this is a big transition. You saw what the President said earlier today. It’s like a patient who was very sick,” Vance said. “We did the operation, and now it’s time to make the patient better. That’s exactly what we’re doing. We have to remember that for 40 years, we’ve been doing this for 40 years.”

“American economic policy has rewarded people who ship jobs overseas. It’s taxed our workers. It’s made our supply chains more brittle, and it’s made our country less prosperous, less free and less secure,” Vance added.

Vance recalled that one of his children had been sick and needed antibiotics that were not made in the United States. The Vice President called it a “ridiculous thing” that some medicines invented in the country are no longer manufactured domestically.

“That’s fundamentally what this is about. The national security of manufacturing and making the things that we need, from steel to pharmaceuticals, antibiotics, and so forth, but also the good jobs that come along when you have economic policies that reward investing in America, rather than investing in foreign countries,” Vance said.

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With a baseline 10% tariff placed on an estimated 60 countries, higher tariffs were applied to nations like China and Israel. For example, China, which has a 67% tariff on U.S. goods, will now face a 34% tariff from the U.S., while Israel, which has a 33% tariff, will face a 17% U.S. tariff.

“One bad day in the stock market, compared to what President Trump said earlier today, and I think he’s right about this. We’re going to have a booming stock market for a long time because we’re reinvesting in the United States of America. More importantly than that, of course, the people in Wall Street have done well,” Vance said.

“We want them to do well. But we care the most about American workers and about American small businesses, and they’re the ones who are really going to benefit from these policies,” Vance said.

The number of factories in the U.S., Vance said, has declined, adding that “millions of workers” have lost their jobs.

“My town [Middletown, Ohio], where you had 10,000 great American steel workers, and my town was one of the lucky ones, now probably has 1,500 steel workers in that factory because you had economic policies that rewarded shipping our jobs to China instead of investing in American workers,” Vance said. “President Trump ran on changing it. He promised he would change it, and now he has. I think Americans are going to reap the benefits.”

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2025 Federal Election

‘I’m Cautiously Optimistic’: Doug Ford Strongly Recommends Canada ‘Not To Retaliate’ Against Trump’s Tariffs

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From the Daily Caller News Foundation

By Jason Cohen

Ontario Premier Doug Ford urged Canadian Prime Minister Mark Carney to avoid retaliation against the tariffs President Donald Trump announced on Wednesday.

Trump announced in the White House Rose Garden that he would impose “a minimum baseline tariff of 10%” on all goods entering the United States, with Canada not being included on the list of countries with higher rates. When asked about what Canada’s response would be on “Bloomberg: Balance of Power,” Ford said he was “cautiously optimistic” about Canada’s omission from the higher-tier tariffs and emphasized the importance of a cooperative relationship with the U.S.

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“Well, let’s see where these tariffs go. I’m cautiously optimistic that I never saw Canada or Mexico on that list. And it just goes to show you two great countries working together, collaborating together and building relationships,” Ford said. “So again, I’m cautiously optimistic. I think if that’s the case, it’s the right thing for both the U.S and Canada.”

Host Kailey Leinz noted that there are currently tariffs on Canada in place as well as an exemption for goods that are in compliance with the U.S.-Mexico-Canada Agreement (USMCA).

“Does that mean, sir, at least in your mind, that it wouldn’t be appropriate for Canada to retaliate for this at this time?” Leinz asked.

“That is correct. If that’s the case, then I would highly recommend to the prime minister not to retaliate. And let’s carry on a strong relationship,” Ford answered. “Let’s build the American-Canadian fortress around both countries and be the wealthiest, most prosperous, safest two countries in the world.”

Trump declared a national emergency to levy a slew of reciprocal tariffs on what he has deemed “Liberation Day.”

“My fellow Americans, this is Liberation Day, April 2, 2025, will forever be remembered as the day American industry was reborn, the day America’s destiny was reclaimed, and the day that we began to make America wealthy again,” Trump said.

The president also announced that he would proceed with implementing a 25% tariff on “all foreign-made automobiles” that will take effect at midnight.

Ford in March had imposed a 25% surcharge on electricity to New York, Michigan and Minnesota, but promptly rescinded the policy and apologized to Americans on WABC’s “Cats & Cosby” radio show the following day. The tariffs were a retaliatory measure against Trump’s flurry of tariffs against Canada since starting his second term.

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