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Biden Announces “Energy Crisis”
Latest Biden Interview Reveals Long-Term Plans For Energy Future
Last week President Biden sat down with the Weather Channel.
The interview was a typical political interview.
Lots of easily predictable questions and long-winded circular responses ranging between answers and non-answers.
There were a handful of things that really stood out though.
For example, Biden did mention (or, let it slip) that America is facing an “energy crisis.”
It’s true. Or, at least, it will be true soon.
But that’s not all.
If you listen to a few key parts, you’ll be able to see which way they’re pushing the U.S. energy industry and the reasons why they’re doing it.
If you do that, you’ll see they aren’t going to change policies around either.
If you’re an investor, you’ll quickly see that energy is going to become a lot more valuable in the future.
Here are the three key takeaways we found.
**Note: All questions and answers have been adjusted for brevity.
Stephanie Abrams of MSNBC and the Weather Channel: We have wildfires. We have hurricanes. And major insurance companies are pulling out of these high risk states that have all this extreme weather.
Biden: The way in which many states are dealing with the energy crisis is outrageous. Wind and solar are cheaper than fossil fuels.
Comment: “Wind and solar are cheaper than fossil fuels.”
The supporters of these energy sources and those doling out subsidies may actually believe they’re cheap, but we’ve found a perfect correlation between more renewables and higher electricity prices.
The world’s top investors aren’t building huge solar and wind plants because they’re cheaper…
They’re doing it because they expect years of steady cash flows ahead.
Stephanie Abrams: The 7,000 oil and gas permits you approved since [you took office]. You promised [when campaigning] no new drilling on federal land or offshore.
Can you tell Gen Z you haven’t broken your promise?
Biden: Courts overruled me…I want to stop all drilling on the east coast…and the west coast…and the Gulf.
Comment: We believe this one because of their actions.
If they wanted to unleash oil production, they already would have.
U.S. oil production is still below 2020 peaks and, at current rates, will take years to return to new highs.
Demand, meanwhile, is coming back much faster.
Stephanie Abrams: How can you make the power grid more resilient?
Biden: Number one, strengthen the power grid.
Secondly, spend the money to go underground.
The thing is to make sure when we’re doing this to make sure we are clearing the floor of the forest.
Comment: Grid resilience is only really achievable with broad, diverse, and reliable energy sources.
The closest they’re coming is with giant batteries.
It may not be more resilient, but there will be a lot of money made from hundreds of billions of dollars of battery plants.
If there was any doubt before this, energy will absolutely be one of the major investment themes of the 2020s.
Biden’s “energy crisis” will be more profound than he or most realize right now.
The eras of cheap oil and electricity are winding down and the owners of energy sources will make fortunes in the years ahead.
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And creating fortunes in the process.
Dynamic Wealth Research exposes the biggest and most profitable changes for our readers.
