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The costly contradictions of Biden’s crusade for green energy


President Biden’s energy agenda is crystal clear: a whole-of-government assault on the domestic fossil fuel industry to advance a green agenda. But its economic and political fallout is a confused contrast. The Biden plan distorts or undermines so many other national and international priorities that it badly needs a mid-course correction.

The administration’s efforts, led by climate czar John Kerry and propelled by the progressive wing of Mr. Biden’s coalition, have included cutting new drilling leases, preventing new pipeline development and extend the zones prohibited for production. The Securities and Exchange Commission has discouraged new financing of fossil fuel projects. New car mileage standards and increased mandates for blending ethanol in gasoline are part of the program. Pressure to phase out coal-fired power generation and thwart new mining projects is also contributing to rising prices seen as the best tool to force the transition to green energy infrastructure.


Wj

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