Recorded on November 29, 2022
Episode 68 is another must-listen to PetroNerds podcast and part 2 of the doubleheader on UK, EU, and US energy policies with Trisha Curtis’ guest Dr. John Constable. The second half of this conversation gets into China, geopolitical complexities, the importance of energy education, understanding “energy blindness,” and the Inflation Reduction Act (IRA).
John expresses his grave concerns about the cost of the Inflation Reduction Act and how weak this makes America. In essence, the US is handing off geopolitical leverage to China as the US tries to outsource its CO2 emissions. The IRA subsidies on renewables are higher than Europe’s green subsidies and will create incredible global dislocations. Trisha and John discuss energy security and European energy and climate change policies in the face of recent increases in coal, oil, and natural gas use – Europe’s distressed return to hydrocarbons. Will European energy policies go back to coal and natural gas?