Today in Capital Matters: Gas Prices and California’s Water | National Review

Today in Capital Matters: Gas Prices and California’s Water | National Review

Benjamin Zycher of the American Enterprise Institute looks at whether President Biden deserves blame for high gas prices:

An expectation that future investment will be constrained artificially has the effect of raising prices today. Why might the market expect such constraints on future investment? Look no further than the Biden administration’s policies for the answer. The “net-zero” crusade against fossil fuels is an obvious attempt to force a sharp decline in current and future production. There are the various decisions to constrain or disallow investments in pipelines and other such infrastructure, both by the administration directly and by such “independent” regulatory agencies as the Federal Energy Regulatory Commission. There are efforts to reduce the fossil industry’s access to capital, new fuel-economy rules based on a preposterous analytic framework, efforts to force a substitution of wind and solar electricity (which cannot work simply as a matter of electrical engineering) in place of conventional power generation, the newly tightened methane-emissions rule that will impose significant costs while providing a temperature reduction of five one-thousandths of one degree C, the de facto moratorium on lease sales on federal lands, and on and on.

Edward Ring of the California Policy Center looks at the state’s water policies:

There are environmentally friendly ways to generate more water. Off-stream reservoirs capture surplus flood runoff and don’t disrupt fish migrations. Wastewater recycling reuses water that is otherwise dumped in the ocean.

The environmental concern, then, is almost always founded on a lack of familiarity with new technologies or an act of simple deception. The next time you read that environmentalists are suing to block a water project, understand that by doing so, even if unintentionally, they are furthering the financial objectives of private special interests as they buy up our most fundamental resource.

Dominic Pino is a William F. Buckley Fellow in Political Journalism at National Review Institute.

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About the Author

Tony Beasley
Tony Beasley writes for the Local News, US and the World Section of ANH.