1 00:00:17,719 --> 00:00:20,519 Speaker 1: And we are back with another edition of the Federalist 2 00:00:20,600 --> 00:00:24,320 Radio Hour. I'm Matt Kittle's senior elections correspondent at the 3 00:00:24,359 --> 00:00:29,079 Federalist and your experience Shirpa on today's quest for Knowledge. 4 00:00:29,440 --> 00:00:32,399 As always, you can email the show at radio at 5 00:00:32,439 --> 00:00:36,560 the Federalist dot com, follow us on x at FDR LST, 6 00:00:37,320 --> 00:00:40,240 make sure to subscribe reever you download your podcast, and 7 00:00:40,399 --> 00:00:44,280 of course to the premium version of our website as well. 8 00:00:44,799 --> 00:00:48,280 Our guest today is Jason Isaac, founder and CEO of 9 00:00:48,320 --> 00:00:53,039 the American Energy Institute. Jason has been at the forefront 10 00:00:53,200 --> 00:00:59,560 of exposing the growing epidemic of climate lawfare, bluestate lawsuits, 11 00:00:59,600 --> 00:01:05,159 and regulatory schemes designed to bleed the energy industry dry 12 00:01:05,280 --> 00:01:08,599 while driving up consumer costs. Jason, thanks so much for 13 00:01:08,719 --> 00:01:10,920 joining us in this edition of the Federalist Radio Hour. 14 00:01:11,359 --> 00:01:12,799 Speaker 2: It's great to be on. Thanks for having me. 15 00:01:13,599 --> 00:01:18,599 Speaker 1: Absolutely, this is an important and timely topic. We've been 16 00:01:18,599 --> 00:01:21,200 talking about this for some time. We've certainly been talking 17 00:01:21,239 --> 00:01:26,040 about lawfare for some time. The left and the lawfair 18 00:01:26,079 --> 00:01:30,439 against its political enemies. This is really the same kind 19 00:01:30,480 --> 00:01:36,000 of thing that we've seen trained on President Donald Trump 20 00:01:36,280 --> 00:01:39,920 and other conservatives. This is the same kind of thing, 21 00:01:40,000 --> 00:01:44,239 but in the way of their extreme environmental agenda. Correct. 22 00:01:46,400 --> 00:01:51,400 Speaker 3: Absolutely, you've seen courts being used as tools against responsible 23 00:01:51,480 --> 00:01:55,760 American energy producers, and you've got plaintiffs of bars around 24 00:01:55,760 --> 00:02:00,719 the country going after those energy producers saying that they've 25 00:02:00,760 --> 00:02:05,359 impacted the weather filing these lawsuits, I think todate. We've 26 00:02:05,359 --> 00:02:09,840 seen five of the cases completely dismissed, the most recent 27 00:02:09,919 --> 00:02:13,680 being in Charleston, South Carolina, alleging that it would be 28 00:02:14,000 --> 00:02:18,639 impossible for energy companies to comply with any sort of 29 00:02:18,960 --> 00:02:22,719 law filed by any municipality or a case filed by 30 00:02:22,719 --> 00:02:27,000 any municipality, the thousands of them in this country, and 31 00:02:27,039 --> 00:02:30,000 so rightfully so, that case was dismissed. It's the latest 32 00:02:30,120 --> 00:02:35,360 in a long list of losses from the plaintiffs, but 33 00:02:35,439 --> 00:02:39,840 they continue to try, and over two dozen cases around 34 00:02:39,840 --> 00:02:45,319 the country, including Hawaii, Oregon, California, and other municipalities. 35 00:02:46,800 --> 00:02:50,759 Speaker 1: What are some of those cases that we're seeing pop up. 36 00:02:50,879 --> 00:02:53,159 I mean, there's all kinds of different areas in the 37 00:02:53,159 --> 00:02:57,759 climate change arena, of course, the climate change cultest as 38 00:02:57,800 --> 00:03:00,240 I like to call them. What kind of cases are 39 00:03:00,280 --> 00:03:02,840 we seeing in these deep blue states. 40 00:03:03,960 --> 00:03:06,120 Speaker 3: Well, it's similar to a case that was filed in 41 00:03:06,120 --> 00:03:12,000 Puerto Rico prior to the change of guard in that territory, 42 00:03:12,039 --> 00:03:15,599 if you will, elections happened in November. We have a 43 00:03:15,599 --> 00:03:20,199 Republican governor of Puerto Rico now, but before her term 44 00:03:20,240 --> 00:03:24,039 in office, her predecessor had worked with a company called 45 00:03:24,080 --> 00:03:27,240 share Edling, a law firm in San Francisco that is 46 00:03:27,280 --> 00:03:30,479 really at the nexus of most of these cases and 47 00:03:30,520 --> 00:03:34,360 the indoctrination of judges around the country trying to rig 48 00:03:34,400 --> 00:03:36,599 the game before the cases even make their way to 49 00:03:36,639 --> 00:03:41,919 the course. But Puerto Rico was suing Exxon, suing the 50 00:03:41,919 --> 00:03:48,319 American Petroleum Institute, suing other hydrocarbon producers, primarily oil and gas, 51 00:03:48,360 --> 00:03:52,080 saying that they had caused the hurricanes that had damaged 52 00:03:52,639 --> 00:03:57,599 Puerto Rico and should be liable for those damages. Fortunately, 53 00:03:57,960 --> 00:04:00,400 because of the elections, the American Energy is to send 54 00:04:00,439 --> 00:04:03,680 a letter to the Governor of Puerto Rico earlier this year, 55 00:04:03,759 --> 00:04:07,039 and a week later she instructed her Department of Justice 56 00:04:07,080 --> 00:04:12,039 to dismiss that case and really withdraw the case. Unfortunately, 57 00:04:12,120 --> 00:04:15,319 states like Hawaii are continuing where the Chief Justice and 58 00:04:15,360 --> 00:04:19,720 the Supreme Court ofi of Hawaii, who is going to 59 00:04:19,759 --> 00:04:23,240 hear this case and is allowing this case to continue. 60 00:04:23,399 --> 00:04:28,920 He himself has participated in Climate Judiciary Project events. These 61 00:04:28,920 --> 00:04:34,399 are events coordinated by the Environmental Law Institute. Since twenty eighteen, 62 00:04:34,519 --> 00:04:39,399 they've tainted over two thousand state and federal judges around 63 00:04:39,480 --> 00:04:43,680 the country with junkets and teaching them highly debatable and 64 00:04:43,839 --> 00:04:47,360 very questionable so called climate science. They're really trying to 65 00:04:47,480 --> 00:04:50,920 rig the game before the game has even begun. And 66 00:04:50,319 --> 00:04:54,040 that's the case we're seeing in states throughout the country. 67 00:04:54,319 --> 00:04:58,000 Speaker 1: Are a lot of these things. Because you have complete 68 00:04:59,000 --> 00:05:03,360 democrat liber control, they're all drinking from the same kool aid? 69 00:05:03,480 --> 00:05:06,040 Are these the kinds of what do they call them? 70 00:05:06,480 --> 00:05:11,120 Settle and sign sorts of internal losses and some of 71 00:05:11,160 --> 00:05:13,879 that going on as well inside these states. 72 00:05:15,560 --> 00:05:18,399 Speaker 3: Absolutely, they're looking for these settle and sign cases. They're 73 00:05:18,399 --> 00:05:22,839 looking for one victory out of the dozens of cases, 74 00:05:22,879 --> 00:05:27,639 because one victory could set precedents throughout the country, even 75 00:05:27,720 --> 00:05:31,439 though it could take get dragged out through an appeals process, 76 00:05:31,800 --> 00:05:36,120 That one victory could be catastrophic to our access to 77 00:05:36,120 --> 00:05:40,279 affordable and reliable energy throughout our country. So they're looking 78 00:05:40,319 --> 00:05:43,040 for sue and settle, but they are looking for that 79 00:05:43,240 --> 00:05:46,480 one legal victory, which is amazing. 80 00:05:46,519 --> 00:05:47,839 Speaker 2: And we mentioned Hawaii. 81 00:05:48,360 --> 00:05:51,000 Speaker 3: It's interesting to note that in the Hawaii case, the 82 00:05:51,040 --> 00:05:53,959 companies that are named. Of all the companies that are named, 83 00:05:54,000 --> 00:05:59,639 they provide products primarily gasoline diesel fuel in the state 84 00:05:59,680 --> 00:06:03,959 of Why the one that is not named gives heavily 85 00:06:04,040 --> 00:06:07,680 to Democrats. It's the only refinery in the state of 86 00:06:07,720 --> 00:06:10,560 Hawaii is not named in the climate lawsuit. 87 00:06:11,240 --> 00:06:18,519 Speaker 1: Isn't that interesting? The plot thickens more and more. It 88 00:06:18,720 --> 00:06:21,160 is the intensity, because I mean, this is something that 89 00:06:21,199 --> 00:06:24,079 we have seen for a long time, and you know, 90 00:06:24,240 --> 00:06:28,519 Sue Ensign was was big during the Obama administration. It 91 00:06:28,879 --> 00:06:32,279 popped up again during the Biden administration. That was at 92 00:06:32,439 --> 00:06:35,759 the federal level. Now you have a different sheriff in town. 93 00:06:36,160 --> 00:06:41,560 You have President Trump, who you know, is calling the 94 00:06:42,079 --> 00:06:48,639 climate change agenda what it is, and he has been 95 00:06:49,279 --> 00:06:57,600 very aggressive in terms of shepherding the resources of our 96 00:06:57,959 --> 00:07:02,800 country to make sure that we have you know, supply 97 00:07:03,040 --> 00:07:07,879 that we are not, you know, in an importer of 98 00:07:09,040 --> 00:07:13,800 this important these important energy sources. Are we seeing a 99 00:07:14,480 --> 00:07:17,079 different day at least at the federal. 100 00:07:16,800 --> 00:07:20,279 Speaker 3: Level, we are absolutely and it's even a different day 101 00:07:20,639 --> 00:07:25,639 compared to the first Trump administration. This Trump administration recognizes 102 00:07:25,759 --> 00:07:33,079 that how pervasive these political agendas like decarbonization, esg DEI, 103 00:07:33,600 --> 00:07:39,480 climate change, they're just political agendas that result in the 104 00:07:39,519 --> 00:07:44,000 cost of energy increasing, which is the cost of everything increasing. 105 00:07:44,079 --> 00:07:47,439 Does nothing to mitigate a changing climate, makes everything more expensive. 106 00:07:47,839 --> 00:07:50,839 We're so blessed to have Secretary right leading the Department 107 00:07:50,879 --> 00:07:54,800 of Energy. He understands this more than any He understands 108 00:07:54,800 --> 00:07:57,959 and I'm maybe using some of his exact same words 109 00:07:58,160 --> 00:08:00,839 when he says that energy isn't part of the economy. 110 00:08:00,920 --> 00:08:02,399 Speaker 2: It is the economy. 111 00:08:02,399 --> 00:08:05,199 Speaker 3: It's the heart of the economy, not just a small 112 00:08:05,240 --> 00:08:08,839 part of it. Everything revolves around energy. You don't have 113 00:08:08,959 --> 00:08:14,279 economic prosperity without energy. You don't have environmental leadership without 114 00:08:14,319 --> 00:08:18,319 economic prosperity. Those go hand in hand. And it's great 115 00:08:18,319 --> 00:08:21,720 that we have an administration that recognizes this and a 116 00:08:21,800 --> 00:08:23,959 Department of Justice that is looking at some of these 117 00:08:24,000 --> 00:08:28,480 states that are going too far in in placing. You know, look, 118 00:08:28,519 --> 00:08:30,600 we've got refineries in California that are going to shut 119 00:08:30,639 --> 00:08:32,240 down here in the next couple of weeks, and Gavin 120 00:08:32,279 --> 00:08:34,159 Newsom is trying to do everything he can to keep 121 00:08:34,200 --> 00:08:36,720 them online. And it looks like it's going to be 122 00:08:36,799 --> 00:08:38,960 a socialist regime where they just come in and have 123 00:08:39,039 --> 00:08:43,519 to take over control and operation of the refinery because 124 00:08:43,759 --> 00:08:48,039 they can't operate under the regulatory climate in California. And 125 00:08:48,080 --> 00:08:51,759 then California is even passing laws send the Bill two 126 00:08:51,879 --> 00:08:54,840 fifty three that goes into effect this January that will 127 00:08:54,879 --> 00:08:58,120 require companies that sell products in the state of California, 128 00:08:58,159 --> 00:09:02,639 whether they're based there or not incredible greenhouse gas lie 129 00:09:03,080 --> 00:09:06,679 which is basically their emissions from power use all the 130 00:09:06,679 --> 00:09:11,559 way down to Scope three, which is their remote employee. 131 00:09:11,639 --> 00:09:13,679 Is that they may have to commute to the office 132 00:09:13,759 --> 00:09:17,360 or commute to the airport, they've got to report those emissions. 133 00:09:17,399 --> 00:09:21,200 Even the Biden Securities and Exchange Commissions said those are 134 00:09:21,240 --> 00:09:26,360 impossible to report. Yet California is mandating them on businesses 135 00:09:26,440 --> 00:09:29,600 even if they sell products in the state of California 136 00:09:29,759 --> 00:09:32,879 not there. So this is going to hit Texas refineries, 137 00:09:33,399 --> 00:09:36,639 Texas oil and gas companies. This is going to hit 138 00:09:36,679 --> 00:09:40,679 the rest of the country really hard with these over aggressive, 139 00:09:41,279 --> 00:09:46,159 the European type regulations California is placing on businesses that 140 00:09:46,279 --> 00:09:49,200 operate in other states. It's egregious. I believe it's a 141 00:09:49,279 --> 00:09:52,919 violation of constitution. This law needs to be paused, it 142 00:09:52,919 --> 00:09:54,960 needs to be stopped, it needs to be thrown out. 143 00:09:55,720 --> 00:09:58,000 But this is what the climate col does. They know 144 00:09:58,120 --> 00:10:01,360 no bounds and people. I wonder why electricity costs are 145 00:10:01,440 --> 00:10:04,279 higher in California than they are anywhere else while they're 146 00:10:04,360 --> 00:10:07,440 gasoline costs are so high and people are fleeing that 147 00:10:07,519 --> 00:10:10,480 state they can't afford to live there because they're overburns 148 00:10:10,519 --> 00:10:11,320 and regulations. 149 00:10:12,080 --> 00:10:16,600 Speaker 1: Well, like most cults, there's power and a power dynamic involved. 150 00:10:16,679 --> 00:10:21,039 In California. It is Governor Gavin Newsom, of course, who 151 00:10:21,159 --> 00:10:26,240 has designs on much higher office. That is clear. He 152 00:10:27,840 --> 00:10:31,600 is leading all kinds of far left initiatives and has 153 00:10:31,639 --> 00:10:36,639 so for some time in California. He's doing that, of course, 154 00:10:36,840 --> 00:10:41,039 in the name of politics. But doesn't Gavin Newsom see 155 00:10:41,919 --> 00:10:46,080 how I can't he see it with his own eyes. 156 00:10:46,159 --> 00:10:51,120 The companies that are leaving California, the residents that are 157 00:10:51,240 --> 00:10:55,159 leaving California because they cannot take the high taxes, the 158 00:10:55,279 --> 00:11:03,919 high regulation. We have seen a massive exodus of Californians 159 00:11:04,039 --> 00:11:09,120 and California businesses over the last several years. Yet we 160 00:11:09,279 --> 00:11:15,159 have this climate change cult leader doubling down what gives? 161 00:11:16,519 --> 00:11:17,559 Speaker 2: Yeah, and he really is. 162 00:11:18,159 --> 00:11:19,840 Speaker 3: It's so funny because a couple of weeks ago, he 163 00:11:19,879 --> 00:11:23,559 came out embracing hydrocarbons and the need for them in 164 00:11:23,600 --> 00:11:27,799 California when they're sitting on a vast amount of oil 165 00:11:27,840 --> 00:11:31,639 and gas reserves in their geology, really taking the private 166 00:11:31,639 --> 00:11:35,600 property rights away from those people that own those royalties 167 00:11:36,200 --> 00:11:40,200 by denying access to them to be explored and produced. 168 00:11:40,600 --> 00:11:42,399 And now it's like he's like, well, we may need 169 00:11:42,440 --> 00:11:45,759 to start producing oil and gas in California again. He's 170 00:11:45,799 --> 00:11:48,679 trying to find a buyer. Maybe he's rolling out the 171 00:11:48,720 --> 00:11:51,000 red carpet and going to clean up San Francisco and 172 00:11:51,039 --> 00:11:54,279 has g come over and buy the refineries in California, 173 00:11:54,399 --> 00:11:56,240 because it's really the only way they're going to stay 174 00:11:56,240 --> 00:11:58,840 open is if California takes them, or maybe you know, 175 00:11:59,320 --> 00:12:02,960 a Chinese company comes in and owns them and they 176 00:12:03,120 --> 00:12:08,519 just can't operate under the overburdensome business climate in California. 177 00:12:09,200 --> 00:12:11,799 And just the people that are fleeing, I guess I 178 00:12:11,799 --> 00:12:14,559 think Avin Newsom thinks these people are ideologically aligned with 179 00:12:14,639 --> 00:12:18,440 him and doesn't understand they just can't afford to live 180 00:12:18,639 --> 00:12:22,080 in California anymore. He's completely destroyed one of the most 181 00:12:22,120 --> 00:12:25,480 beautiful states in our nation, and it's just really to 182 00:12:25,519 --> 00:12:27,240 the detriment of the people that live there. 183 00:12:28,240 --> 00:12:31,440 Speaker 1: You know. It's interesting. John Steinbeck wrote a great deal 184 00:12:31,519 --> 00:12:35,559 about the Oaks of the Depression era escaping the dust 185 00:12:35,559 --> 00:12:38,679 bowl of Oklahoma for the green fields and the dreams 186 00:12:38,720 --> 00:12:44,320 of California. We have modern day oaks, but they're Californias, 187 00:12:44,480 --> 00:12:46,600 i think, is what we call them. You know, they're 188 00:12:46,720 --> 00:12:54,639 escaping to places of you know, much different climates in 189 00:12:54,720 --> 00:12:58,159 terms of regulation, in terms of taxation, in terms of 190 00:12:58,240 --> 00:13:01,480 operation cost, all of those sorts of things. They're escaping 191 00:13:01,519 --> 00:13:08,159 to places red states like Tennessee and Florida and Texas. 192 00:13:09,039 --> 00:13:11,200 Somebody has got to get the message here from the 193 00:13:11,240 --> 00:13:14,519 blue states that you can't keep operating as usual. But again, 194 00:13:14,600 --> 00:13:18,000 as I said, they are doubling down. How is the 195 00:13:18,039 --> 00:13:26,639 whole carbon neutral theater going on in these states? They 196 00:13:26,679 --> 00:13:30,120 have came out several years ago with big dreams to 197 00:13:30,200 --> 00:13:33,799 go carbon neutral by such and such a time. A 198 00:13:33,799 --> 00:13:37,480 lot of these places are looking at dates as close 199 00:13:37,559 --> 00:13:40,679 as two thousand and forty. How is that effort going 200 00:13:40,720 --> 00:13:41,440 for these folks? 201 00:13:43,320 --> 00:13:44,879 Speaker 2: It's not going very well. 202 00:13:45,200 --> 00:13:45,360 Speaker 1: Well. 203 00:13:45,399 --> 00:13:47,039 Speaker 2: First of all, it doesn't do anything. 204 00:13:47,320 --> 00:13:49,320 Speaker 3: And I think the response was from some of these 205 00:13:49,320 --> 00:13:52,240 states and a lot of businesses too. They decided to 206 00:13:52,240 --> 00:13:55,840 get involved in politics, and President Trump in twenty and 207 00:13:55,919 --> 00:13:59,799 seventeen withdrew the United States from the Paris Climate Accords 208 00:14:00,159 --> 00:14:02,759 that he represents the people of Pittsburgh, not the people 209 00:14:02,799 --> 00:14:06,720 of Paris. He understood the decarbonization does nothing to mitigate 210 00:14:06,720 --> 00:14:09,840 a change in climate. It just makes everything more expensive. 211 00:14:10,279 --> 00:14:12,960 And now here you are in the second Trump administration 212 00:14:13,480 --> 00:14:17,120 moving to rescind the Endangerment Finding, which was put in 213 00:14:17,159 --> 00:14:20,360 place during the Obama administration in two thousand and nine 214 00:14:20,399 --> 00:14:23,960 by deep state bureaucrats that wanted to force the EPA 215 00:14:24,080 --> 00:14:29,200 to regulate greenhouse gas emissions, primarily CO two. I love 216 00:14:29,240 --> 00:14:32,080 to tell people I live a high carbon lifestyle. I 217 00:14:32,120 --> 00:14:34,879 wish the rest of the world could too, because that's 218 00:14:34,960 --> 00:14:38,600 places that have high carbon lifestyles and high carbon footprints 219 00:14:38,639 --> 00:14:42,480 are where you have economic prosperity, clean air, clean water, 220 00:14:42,639 --> 00:14:43,240 and wealth. 221 00:14:43,559 --> 00:14:45,639 Speaker 2: And the rest of the world should get to experience 222 00:14:45,679 --> 00:14:46,559 that as well. 223 00:14:47,360 --> 00:14:50,440 Speaker 3: So getting rid of the Endangerment Finding is the bedrock 224 00:14:50,559 --> 00:14:54,039 that all of this climate policy sits on, and he 225 00:14:54,120 --> 00:14:55,000 is going to pull it. 226 00:14:54,960 --> 00:14:56,360 Speaker 2: Out from under their feet. 227 00:14:56,759 --> 00:15:04,639 Speaker 3: Decarbonization is the climate cult kool aid. It just results 228 00:15:04,639 --> 00:15:08,200 in death and higher cost, the higher cost first than death. 229 00:15:08,919 --> 00:15:12,080 It's absolutely appalling, but it is a political agenda that 230 00:15:12,120 --> 00:15:14,919 has failed. It is rooted in control. Yet the EU 231 00:15:15,480 --> 00:15:21,440 still continues to commit suicide. By one thousand cuts of decarbonization, 232 00:15:21,919 --> 00:15:24,600 They're losing industry, their emissions are reducing. 233 00:15:24,639 --> 00:15:26,960 Speaker 2: If you care about that sort of thing, I don't. 234 00:15:27,440 --> 00:15:31,600 Speaker 3: We've been world leaders reducing pollution in this country. Certain things, 235 00:15:32,200 --> 00:15:36,240 certain concentrations impact human health. We've reduced that nearly eighty 236 00:15:36,320 --> 00:15:39,600 percent over the last five decades, getting our air quality 237 00:15:39,639 --> 00:15:43,399 in this country to a natural state. Places like Asia 238 00:15:43,519 --> 00:15:46,639 that could care less about human rights or pollution actually 239 00:15:46,679 --> 00:15:49,679 contribute to our air quality here in the United States. 240 00:15:49,799 --> 00:15:52,679 You look in southern California, over sixty percent of the 241 00:15:52,679 --> 00:15:56,679 pollution that comes into Southern California is Asian air pollution. 242 00:15:57,279 --> 00:16:00,639 I've advocated for this idea for a Pittsburgh. We should 243 00:16:00,639 --> 00:16:03,120 call in our trading partners to meet air quality standards 244 00:16:03,120 --> 00:16:07,039 that improve human health. And that's get back gets back 245 00:16:07,039 --> 00:16:11,159 to the EPA Mission Human and Environmental Health, of which 246 00:16:11,240 --> 00:16:13,960 CO two impacts neither and so they're getting rid of 247 00:16:13,960 --> 00:16:17,799 the endangerment, finding that will be transformative. I wish businesses 248 00:16:18,360 --> 00:16:23,240 and states that have reached and kind of really grasped 249 00:16:23,320 --> 00:16:27,559 on to this Paris Accord and esg this environmental, social 250 00:16:27,559 --> 00:16:29,000 and governance commitments. 251 00:16:29,240 --> 00:16:31,279 Speaker 2: I wish they would get out of politics. 252 00:16:31,759 --> 00:16:35,039 Speaker 3: Cracker, Barrel, bud Light, companies like this have learned the 253 00:16:35,120 --> 00:16:37,559 really hard way what happens when you get involved in 254 00:16:37,600 --> 00:16:41,360 political agendas. Companies like black Rock are forcing them on 255 00:16:41,440 --> 00:16:42,639 companies they invest in. 256 00:16:42,919 --> 00:16:44,279 Speaker 2: I wish they would step away. 257 00:16:44,080 --> 00:16:47,000 Speaker 3: From that and worry about their business and making a 258 00:16:47,039 --> 00:16:48,519 return for their shareholders. 259 00:16:52,399 --> 00:16:54,919 Speaker 4: How is September the worst month of the year for 260 00:16:54,960 --> 00:16:55,600 the taxpayer? 261 00:16:55,639 --> 00:16:56,240 Speaker 2: Who watched? Out? 262 00:16:56,360 --> 00:16:59,279 Speaker 4: On Wall Street Podcast with Chris Markowski every day Chris 263 00:16:59,279 --> 00:17:02,080 helps unpack the connection between politics and the economy and 264 00:17:02,120 --> 00:17:04,960 how it affects your wallet. Government agencies have to spend 265 00:17:05,039 --> 00:17:08,000 every single dime by the end of September, plus take 266 00:17:08,039 --> 00:17:10,440 out more debt for another cr In the last forty 267 00:17:10,440 --> 00:17:12,640 eight days, the federal debt is up by a trillion. 268 00:17:12,799 --> 00:17:15,279 We have a severe debt problem. Whether it's happening in 269 00:17:15,359 --> 00:17:17,759 DC or down on Wall Street, it's affecting you financially. 270 00:17:17,799 --> 00:17:18,359 Speaker 2: Be informed. 271 00:17:18,400 --> 00:17:20,519 Speaker 4: Check out the Watchdot on Wall Street podcast with Chris 272 00:17:20,559 --> 00:17:23,960 Markowski on Apple, Spotify or wherever you get your podcasts. 273 00:17:27,079 --> 00:17:29,440 Speaker 1: No, it certainly had an impact on Joe Biden in 274 00:17:29,519 --> 00:17:33,079 Pennsylvania to twenty twenty four. I should say then ultimately 275 00:17:33,160 --> 00:17:37,640 Kamala Harris, but the Democrats, I think, in no small 276 00:17:37,640 --> 00:17:42,319 way lost Pennsylvania because of their extreme climate change policies. 277 00:17:42,319 --> 00:17:45,359 Speaker 3: What do you think, absolutely, but they were part of 278 00:17:45,359 --> 00:17:49,839 this regional greenhouse gas initiative, partnering with other states, committing 279 00:17:49,839 --> 00:17:53,039 to essentially what would result in driving up the cost 280 00:17:53,519 --> 00:17:56,079 of energy, which again is everything. You drive up the 281 00:17:56,079 --> 00:17:59,559 cost of electricity. The northeastern United States, you know, sometimes 282 00:17:59,640 --> 00:18:04,920 outpaid is California for the most expensive electricity, and Pennsylvanians 283 00:18:04,920 --> 00:18:07,519 were feeling that people in the Rust Belt were feeling 284 00:18:07,559 --> 00:18:10,960 that that expensive energy hurts the poor. And when you 285 00:18:11,000 --> 00:18:15,400 start to see a significant increase in disconnects, that's getting 286 00:18:15,519 --> 00:18:20,200 disconnected from your primary utility. And during the Biden administration 287 00:18:20,319 --> 00:18:22,720 from twenty twenty two to twenty twenty three, it was 288 00:18:22,720 --> 00:18:26,160 a thirty percent increase in people in this country losing 289 00:18:26,559 --> 00:18:30,160 their electricity. It was a seventy six percent increase in 290 00:18:30,200 --> 00:18:33,400 people losing their natural gas. And I'm not saying losing 291 00:18:33,440 --> 00:18:35,720 it because they got cut off because there wasn't enough 292 00:18:35,799 --> 00:18:38,279 of it. I'm saying losing it because they couldn't afford 293 00:18:38,319 --> 00:18:41,920 to pay their bills and they got disconnected. Those are 294 00:18:41,960 --> 00:18:45,240 five million Americans that were at the greatest risk of 295 00:18:45,359 --> 00:18:51,079 homelessness because of these climate change alarmist policies. And I 296 00:18:51,079 --> 00:18:53,240 say they're the greatest risk of homelessness because when you 297 00:18:53,240 --> 00:18:54,960 buy a home, when you have a mortgage, or when 298 00:18:54,960 --> 00:18:56,720 you sign a lease, you're. 299 00:18:56,559 --> 00:18:59,079 Speaker 2: Required to keep your utilities active. 300 00:18:59,519 --> 00:19:02,279 Speaker 3: And when you lose those utilities, you're violating the terms 301 00:19:02,279 --> 00:19:05,200 of your homeowner's insurance policy, You're violating the terms of 302 00:19:05,240 --> 00:19:08,519 your lease. Those are the people the greatest risk of homelessness. 303 00:19:08,599 --> 00:19:11,400 It's one of the reasons Blackrock was just approved to 304 00:19:11,440 --> 00:19:15,400 buy Minnesota power, not a portion of it. They are 305 00:19:15,440 --> 00:19:19,400 going to own it outright, and in their commitments to 306 00:19:19,519 --> 00:19:23,240 do that, I believe this three point one million dollars 307 00:19:23,319 --> 00:19:27,799 is set aside to waive late utility bills because of 308 00:19:27,960 --> 00:19:31,640 Minnesota's net zero commitments have driven up the cost of 309 00:19:31,720 --> 00:19:34,440 electricity in that state, and so you had people that 310 00:19:34,480 --> 00:19:38,039 had over three million dollars due in late fees and 311 00:19:38,200 --> 00:19:41,720 unpaid utility bills. Those are going to get completely wiped off. 312 00:19:42,400 --> 00:19:46,519 And Blackrock has even committed to invest into more unreliable, 313 00:19:46,640 --> 00:19:52,400 variable weather dependent generation in this commitment to buy Minnesota power. 314 00:19:52,440 --> 00:19:55,839 It's absolutely appalling that that was approved by federal regulators 315 00:19:56,160 --> 00:20:00,000 because Blackrock does not support energy dominance and political agenda 316 00:20:00,039 --> 00:20:03,839 are contrary to American energy dominates. 317 00:20:04,720 --> 00:20:07,839 Speaker 1: It is the definition of insanity. You're doing the same 318 00:20:07,960 --> 00:20:11,640 thing over and over again, failing and expecting a different result. 319 00:20:11,720 --> 00:20:14,400 And that's basically what we have seen, and you mentioned 320 00:20:14,400 --> 00:20:19,480 it before. While you have the net zero folks in 321 00:20:20,079 --> 00:20:23,960 Minnesota and California and the rest of these climate cult 322 00:20:24,119 --> 00:20:33,119 states interrupting reliable energy to their citizens and creating extreme 323 00:20:33,200 --> 00:20:38,279 burdens for their businesses, China is building coal plants at 324 00:20:38,359 --> 00:20:46,440 a record level. So what is the value of their 325 00:20:47,319 --> 00:20:51,640 you know, zero carbon emissions plans when you have China 326 00:20:51,759 --> 00:20:56,759 and India developing nations elsewhere cranking up the heat. 327 00:20:59,599 --> 00:21:01,799 Speaker 2: Yeah, it's completely to our detriment. 328 00:21:01,920 --> 00:21:05,279 Speaker 3: And I just I don't understand how people can't see this, 329 00:21:05,400 --> 00:21:08,319 but China building one to two coal fired power plants 330 00:21:08,839 --> 00:21:11,119 every single week. I wish they would use the pollution 331 00:21:11,240 --> 00:21:13,920 control technology that we use here in the United States. 332 00:21:13,920 --> 00:21:15,839 It's one of the reasons why we're world leaders in 333 00:21:15,880 --> 00:21:19,640 clean air. They don't care about human rights, they don't 334 00:21:19,640 --> 00:21:23,599 care about the environment. They care about having cheap electricity, 335 00:21:23,680 --> 00:21:26,839 and you get that from hydrocarbons. 336 00:21:26,039 --> 00:21:28,039 Speaker 2: Which they have a lot of access to. Is coal, 337 00:21:29,000 --> 00:21:31,559 natural gas and nuclear are great. Those are three. 338 00:21:31,400 --> 00:21:33,160 Speaker 3: Things that we need to be building more of, but 339 00:21:33,200 --> 00:21:36,720 we need a market that rewards companies to build those, 340 00:21:36,799 --> 00:21:39,960 and we currently don't have one because we have pushed 341 00:21:40,119 --> 00:21:45,119 that zero these renewable portfolio standards, which are essentially mandates, 342 00:21:45,720 --> 00:21:47,400 and you have states that are saying we have to 343 00:21:47,440 --> 00:21:52,400 be one hundred percent renewable. That's absolutely devastating to our economy. 344 00:21:52,400 --> 00:21:56,279 It's leading to our d industrialization. It's crush Germany. BASF, 345 00:21:56,319 --> 00:22:00,079 a world leading chemical manufacturing company refining company, is shutting 346 00:22:00,119 --> 00:22:02,960 down operations in Germany, moving them to China, and they're 347 00:22:03,000 --> 00:22:06,599 citing high energy costs. Germany is so far ahead of 348 00:22:06,640 --> 00:22:08,759 the rest of the world, and the rest of the 349 00:22:08,759 --> 00:22:11,839 EU isn't far behind Germany. The UK is not far 350 00:22:11,920 --> 00:22:16,400 behind Germany, but embracing this so called energy transition which 351 00:22:16,440 --> 00:22:20,039 is another word for political agenda that just transitions power 352 00:22:20,079 --> 00:22:23,559 and money from countries of wealth to China. But for 353 00:22:23,640 --> 00:22:27,279 the first time ever, China is actually exporting energy. They 354 00:22:27,319 --> 00:22:32,759 consume massive amounts of energy, and they've expanded their refining capacity, 355 00:22:32,960 --> 00:22:36,200 so they're importing oil from Russia and from Iran. They're 356 00:22:36,240 --> 00:22:39,599 taking that oil and they're refining into diesel, jet fuel 357 00:22:39,640 --> 00:22:42,160 and home heating oil, and they're putting that back. 358 00:22:42,039 --> 00:22:42,799 Speaker 2: Out into the market. 359 00:22:42,839 --> 00:22:45,119 Speaker 3: This is something that's a new phenomenon that's just happened 360 00:22:45,119 --> 00:22:48,680 in the last year with China exporting energy and competing 361 00:22:48,680 --> 00:22:52,119 on the global market for some of those fuels, which is. 362 00:22:52,880 --> 00:22:53,640 Speaker 2: Mind blowing to me. 363 00:22:53,720 --> 00:22:56,720 Speaker 3: But we've really let this happen to ourselves because we've 364 00:22:56,720 --> 00:22:59,839 been and I believe China was funding this. And there's 365 00:22:59,880 --> 00:23:04,000 a group called State Armor Publisher Report on Energy Foundation 366 00:23:04,240 --> 00:23:07,480 China talking about their ties into think tanks in the 367 00:23:07,599 --> 00:23:11,720 United States, into universities and colleges that have really been 368 00:23:11,839 --> 00:23:15,519 funding this climate alarmist movement that has led to us 369 00:23:15,599 --> 00:23:21,559 damaging ourselves. President Trump realizes this, the administration realizes this, 370 00:23:21,680 --> 00:23:25,319 and that's why they're pushing this energy dominance agenda. We've 371 00:23:25,359 --> 00:23:28,680 just got to get the utilities to embrace it, these 372 00:23:28,759 --> 00:23:32,680 companies to embrace it, and push back on political agendas 373 00:23:32,680 --> 00:23:36,240 so that we can have affordable and reliable power. I 374 00:23:36,319 --> 00:23:39,759 love that this administration doesn't talk about all of the above. 375 00:23:40,480 --> 00:23:44,039 Speaker 2: That's a poorly worded lazy energy. 376 00:23:43,720 --> 00:23:46,559 Speaker 3: Approach that includes things that are heavily dependent on China 377 00:23:46,599 --> 00:23:50,680 and heavily subsidized. They are for affordable and reliable, of 378 00:23:50,720 --> 00:23:52,599 which wind and solar are neither. 379 00:23:53,799 --> 00:23:56,920 Speaker 1: Our guest today is Jason Isaac, founder and CEO of 380 00:23:56,960 --> 00:24:01,200 the American Energy Institute. Jason has been at the forefront 381 00:24:01,200 --> 00:24:04,880 of exposing the growing epidemic of climate lawfare, blue state 382 00:24:04,960 --> 00:24:10,559 lawsuits and regulatory schemes designed to leed the energy industry 383 00:24:10,759 --> 00:24:15,359 dry while driving up consumer cost And we've seen the 384 00:24:15,400 --> 00:24:19,880 consumer cost damage throughout. Let's talk about the big superfund. 385 00:24:20,759 --> 00:24:23,319 We've seen this of course at New York and Vermont 386 00:24:24,440 --> 00:24:29,359 enacting climate change super fund statutes. What are those all 387 00:24:29,440 --> 00:24:32,880 about and what's the impact to the consumer on that front? 388 00:24:33,519 --> 00:24:36,279 Speaker 3: Oh, if they continue to play out the way they 389 00:24:36,279 --> 00:24:38,440 are playing out, the way these laws are put in places, 390 00:24:38,440 --> 00:24:41,839 it will plus fines on companies that sell products, primarily 391 00:24:41,839 --> 00:24:45,599 fossil fuels in those two states, which will be absorbed 392 00:24:45,599 --> 00:24:47,920 by customers around the world. 393 00:24:48,119 --> 00:24:49,519 Speaker 2: So New York and. 394 00:24:49,559 --> 00:24:52,160 Speaker 3: Vermont have passed these laws that say they go back 395 00:24:52,200 --> 00:24:55,400 to nineteen seventy seven, I believe is the year that 396 00:24:55,480 --> 00:24:59,880 these companies have to pay essentially fines for weather relate 397 00:25:00,000 --> 00:25:05,640 at events that these climate cultists in New York and 398 00:25:05,799 --> 00:25:11,519 Vermont believe that these companies have caused by selling their products. 399 00:25:11,720 --> 00:25:14,559 Is the absurdity has reached new levels with these This 400 00:25:14,640 --> 00:25:17,000 is hopefully some states that are being investigated by the 401 00:25:17,079 --> 00:25:20,200 Department of a Justice for these laws that usurp the 402 00:25:20,240 --> 00:25:24,640 Constitution of the United States, and it will just lead 403 00:25:24,680 --> 00:25:25,799 to higher costs. 404 00:25:25,559 --> 00:25:28,359 Speaker 2: Not only in those states. I wish that companies like. 405 00:25:28,359 --> 00:25:30,559 Speaker 3: Exxon and Shell could say, you know what, we have 406 00:25:30,599 --> 00:25:32,839 to raise the cost of gasoline in New York to 407 00:25:33,160 --> 00:25:35,359 nine dollars a gallon, but we're not going to do 408 00:25:35,400 --> 00:25:38,440 it in other states because we have to pay these fees. 409 00:25:38,480 --> 00:25:41,319 But that's unfortunately not part of the law. It just 410 00:25:41,359 --> 00:25:44,079 has to be absorbed by customers around the globe. 411 00:25:44,839 --> 00:25:51,079 Speaker 1: You know, we talk about climate lawsuits in climate law fare, 412 00:25:51,839 --> 00:25:57,359 climate change law fair. This doesn't happen obviously in you know, 413 00:25:57,400 --> 00:26:01,079 in a vacuum. They are all kinds of far left 414 00:26:01,160 --> 00:26:07,039 groups that have benefited immensely in from the Obama administration, 415 00:26:07,160 --> 00:26:11,799 the Biden administration for leading the charge from the outside, 416 00:26:11,880 --> 00:26:16,400 these NGOs in particular, and of course the climate change 417 00:26:16,799 --> 00:26:21,039 lawfare groups. How much are we talking about in terms 418 00:26:21,079 --> 00:26:30,079 of resources, financial resources, time, and human capital involved in 419 00:26:30,119 --> 00:26:35,079 this war on energy? 420 00:26:36,160 --> 00:26:37,839 Speaker 2: Oh, it was billions of dollars. 421 00:26:37,920 --> 00:26:40,119 Speaker 3: You look in the last seventy four days of the 422 00:26:40,119 --> 00:26:45,400 Biden administration dolling out ninety six billion dollars of taxpayer 423 00:26:45,599 --> 00:26:51,640 money just to environmental groups and to left wing causes 424 00:26:52,160 --> 00:26:59,599 to really stir up environmental alarmism. It's incredibly pervasive throughout 425 00:27:00,039 --> 00:27:02,839 organizations that are dependent on that. I'm so grateful that 426 00:27:02,920 --> 00:27:05,480 Doze happened and that we were able to see this. 427 00:27:06,319 --> 00:27:10,519 Just last week, twenty three attorneys general, led by Montana's 428 00:27:10,799 --> 00:27:15,640 Canuteson Attorney General, sent a letter to the Environmental Protection 429 00:27:15,720 --> 00:27:19,400 Agency to Administrator Lee Zelden because they had discovered that 430 00:27:19,559 --> 00:27:23,680 the Environmental Law Institute this organization funding the Climate Judiciary 431 00:27:23,720 --> 00:27:29,039 project with dark money donors. I believe some Chinese influenced 432 00:27:29,039 --> 00:27:33,480 from the Energy Foundation China. Now they've fun off and 433 00:27:33,559 --> 00:27:37,200 renamed US Energy Foundation to make it sound American. I 434 00:27:37,200 --> 00:27:39,799 guess they dropped it to China. That doesn't sound very American. 435 00:27:40,720 --> 00:27:43,839 It's laughable. But they've really been at the heart of 436 00:27:43,880 --> 00:27:47,400 funding this movement to rig the game, rig the courts. 437 00:27:47,720 --> 00:27:49,880 They were receiving in twenty twenty three, I believe it 438 00:27:49,880 --> 00:27:54,039 was thirteen percent of their operating budget. Thirteen percent was 439 00:27:54,079 --> 00:27:58,000 coming from taxpayers from an EPA grant. It was about 440 00:27:58,000 --> 00:28:01,079 eight or nine percent the following year. As their budget grew, 441 00:28:01,079 --> 00:28:04,440 it became a smaller percentage, but still getting over a 442 00:28:04,480 --> 00:28:10,319 million dollars from taxpayers to be used and weaponized against taxpayers. 443 00:28:10,359 --> 00:28:12,759 So fortunately, I hope this is one of these grants 444 00:28:12,799 --> 00:28:16,640 that administrators seld in cancels, amongst the other billions of 445 00:28:16,680 --> 00:28:19,359 dollars of grants that were just approved with a court 446 00:28:19,759 --> 00:28:23,839 hearing recently, a court announcement recently that he can pull 447 00:28:23,920 --> 00:28:28,119 back these billions of dollars of taxpayer grants to organizations 448 00:28:28,599 --> 00:28:31,720 that are unqualified and certainly don't need to be weaponizing 449 00:28:31,799 --> 00:28:33,599 tax dollars against taxpayers. 450 00:28:34,359 --> 00:28:35,640 Speaker 1: That's what I was going to ask you as well. 451 00:28:35,680 --> 00:28:39,359 I mean, there's state sovereignty here, and states are going 452 00:28:39,400 --> 00:28:42,480 to do and have the power to do a lot 453 00:28:42,519 --> 00:28:46,559 of things in the name of state sovereignty, and that 454 00:28:47,079 --> 00:28:51,680 often can be a good thing. But when your state 455 00:28:51,839 --> 00:28:56,480 is impacting other states the rest of the country on 456 00:28:56,880 --> 00:29:03,000 your extreme choices, how much can the federal government get involved? 457 00:29:03,240 --> 00:29:08,039 In essence, can we see a Trump administration National Guards 458 00:29:08,319 --> 00:29:18,799 style focus on California's destructive climate change policies because they 459 00:29:18,799 --> 00:29:23,160 are truly impacting rates around the country and all kinds 460 00:29:23,160 --> 00:29:24,880 of things up and down the chain. 461 00:29:26,319 --> 00:29:26,880 Speaker 2: There really are. 462 00:29:27,000 --> 00:29:29,119 Speaker 3: And this bill that I referenced earlier, siny Bill two 463 00:29:29,119 --> 00:29:32,440 fifty three out of California. It does that it's an 464 00:29:32,480 --> 00:29:39,079 extra territorial overreach of California's authority, essentially mandating law through 465 00:29:39,119 --> 00:29:44,279 the other forty nine states from California. That is a 466 00:29:44,359 --> 00:29:48,559 violation of the Constitution, that's exceeding their statutory authority. And 467 00:29:48,599 --> 00:29:51,079 the Department of Justice needs to investigate in this, that 468 00:29:51,160 --> 00:29:55,000 the courts need to get involved and overturn this law 469 00:29:55,720 --> 00:29:56,880 because it is an. 470 00:29:56,759 --> 00:29:58,279 Speaker 2: Absolute egregious abuse. 471 00:29:58,279 --> 00:30:02,079 Speaker 3: When you impact businesses outside out of your territory, it 472 00:30:02,240 --> 00:30:03,200 is a violation. 473 00:30:03,400 --> 00:30:05,400 Speaker 2: And so hopeful. 474 00:30:05,160 --> 00:30:07,880 Speaker 3: That this is one of those laws that's overturned because 475 00:30:07,880 --> 00:30:10,559 if not much like what Vermont and New York are doing. 476 00:30:10,599 --> 00:30:13,279 We're going to bear the burdens of those that haven't 477 00:30:13,319 --> 00:30:16,759 elected people that live in California or New York or Vermont. 478 00:30:17,079 --> 00:30:19,200 We're still going to feel the pain, not only at 479 00:30:19,200 --> 00:30:21,519 the pump. We're going to feel the pain high cost 480 00:30:21,559 --> 00:30:26,000 of electricity, higher cost of groceries, essentially air costs for everything. 481 00:30:26,240 --> 00:30:29,640 For these companies to comply with California mandates. I wish 482 00:30:29,720 --> 00:30:32,039 some of these companies, and you look at the large 483 00:30:32,359 --> 00:30:36,720 oil and gas companies, these are multinational globalist companies. You 484 00:30:36,799 --> 00:30:40,319 look at some of their biggest investors, companies like black Rock, Vanguard, 485 00:30:40,359 --> 00:30:43,160 and State Street. They all have these political agendas of 486 00:30:43,200 --> 00:30:46,720 net zero. They've completely aligned with ESG. They're forcing these 487 00:30:46,759 --> 00:30:50,880 companies to abide by them. There's no reason for Exxon 488 00:30:50,960 --> 00:30:54,000 to have any sort of Paris commitments or net zero commitments. 489 00:30:54,039 --> 00:30:58,160 There's no reason for any electric utility to have these commitments, 490 00:30:58,200 --> 00:31:01,680 but yet they do, most of them being forced to 491 00:31:01,720 --> 00:31:06,039 bend the need ESG by some of their largest institutional investors, which, 492 00:31:06,119 --> 00:31:09,920 mind you, these investors like Blackrock are using pension dollars 493 00:31:10,039 --> 00:31:12,680 that are guaranteed and backed by the governments of the 494 00:31:12,799 --> 00:31:15,720 United States or their states or Canada. 495 00:31:16,559 --> 00:31:17,839 Speaker 2: So I find it ironic. 496 00:31:18,000 --> 00:31:20,960 Speaker 3: It's interesting I should say that people are you know, 497 00:31:21,000 --> 00:31:23,920 some people are up in arms about the federal government 498 00:31:23,960 --> 00:31:27,519 taking a share in Intel just under ten percent. I'm 499 00:31:27,559 --> 00:31:30,640 no fan of the government owning private businesses. But where 500 00:31:30,680 --> 00:31:32,079 have some of these people that have been up in 501 00:31:32,160 --> 00:31:34,119 arms about this move? Where have they been over the 502 00:31:34,200 --> 00:31:40,720 last two decades as we've watched government backed pensions, political 503 00:31:40,759 --> 00:31:44,680 agendas through the dollars that they're investing in these companies. 504 00:31:44,920 --> 00:31:47,319 It's they've they have been crickets over the last two 505 00:31:47,319 --> 00:31:49,079 decades from a lot of these people that are up 506 00:31:49,079 --> 00:31:51,960 in arms about the ownership of the federal government's stake 507 00:31:52,039 --> 00:31:55,440 in Intel. So I hope that they start to peel layers, 508 00:31:55,480 --> 00:31:56,960 the young and back a little bit, like, hey, it's 509 00:31:57,000 --> 00:31:58,720 not good for the federal government to buy a stake 510 00:31:58,720 --> 00:32:01,400 in Intel, if that's your position, and it's certainly not 511 00:32:01,519 --> 00:32:04,839 good for our pensions. They should be passive investors, and 512 00:32:04,880 --> 00:32:07,440 they're not passive at all. They're actually investing in these 513 00:32:07,480 --> 00:32:11,720 companies to change their operations, and that's really unfortunate. 514 00:32:12,279 --> 00:32:14,279 Speaker 1: Well that's a good point too. I mean, there are 515 00:32:14,480 --> 00:32:18,880 retirements at stake here and the decisions that are made 516 00:32:19,640 --> 00:32:25,279 based on politics and the whims of the day were extremist. 517 00:32:26,240 --> 00:32:30,359 You know, politics have an impact on those those retirements. 518 00:32:30,599 --> 00:32:34,440 I don't think that the government should be in any 519 00:32:35,000 --> 00:32:38,880 business they, you know, like you said, should they? I 520 00:32:38,960 --> 00:32:42,079 think they should be out of that arena altogether. But 521 00:32:42,200 --> 00:32:46,640 we are talking about investments that are going to prop 522 00:32:46,759 --> 00:32:49,119 up and I think that's a fitting term here. We've 523 00:32:49,119 --> 00:32:54,279 seen it over again, prop up the climate change alarmist agenda. 524 00:32:54,480 --> 00:32:59,480 Shouldn't there be some kind of consequence? Is there any 525 00:32:59,559 --> 00:33:01,680 pushed to make a consequence for that? 526 00:33:04,039 --> 00:33:07,079 Speaker 3: There has been in states where we've pushed back against 527 00:33:07,079 --> 00:33:12,079 some of the financial institutions that are really discriminating against 528 00:33:12,079 --> 00:33:17,119 responsible American energy producers, primarily oil, gas and coal. Where 529 00:33:17,160 --> 00:33:23,319 you've got clear divestment positions from insurance companies and financial 530 00:33:23,359 --> 00:33:27,839 institutions against coal. Then they go into natural gas and 531 00:33:27,839 --> 00:33:30,559 oil companies and just force them to adopt net zero 532 00:33:30,680 --> 00:33:35,359 and reduce their carbon intensity. Again, absolute absurdity. 533 00:33:36,119 --> 00:33:36,440 Speaker 1: In that. 534 00:33:36,680 --> 00:33:39,079 Speaker 3: But really, the pensions, if they're going to get involved 535 00:33:39,079 --> 00:33:41,480 in politics, they shouldn't be able to have the backing 536 00:33:41,880 --> 00:33:45,640 of the federal or their state governments because that's what happens. 537 00:33:45,640 --> 00:33:48,480 If a pension goes belly up, if it's not sustainable, 538 00:33:49,079 --> 00:33:53,519 sustainable being profitable, then the state will step in and 539 00:33:53,559 --> 00:33:55,519 they will back that. This is something I learned in 540 00:33:55,519 --> 00:33:58,440 my term in terms of the legislature in Texas that 541 00:33:59,359 --> 00:34:01,400 if a pinsion it starts to have problems, the state 542 00:34:01,519 --> 00:34:02,880 is going to be there and back it up to 543 00:34:02,880 --> 00:34:05,880 make sure those people get their retirements, which means taxpayers 544 00:34:05,880 --> 00:34:08,159 are on the hook. And so if pensions are getting 545 00:34:08,159 --> 00:34:11,280 involved in political agendas, this is maybe some good idea 546 00:34:11,280 --> 00:34:15,559 for model policy. But if they're getting involved in political 547 00:34:15,599 --> 00:34:20,599 agendas and really being aggressive and not passive investors, then 548 00:34:20,800 --> 00:34:23,000 perhaps they shouldn't have the backing of the state or 549 00:34:23,039 --> 00:34:23,840 the federal government. 550 00:34:25,039 --> 00:34:29,400 Speaker 1: We've seen a good deal of economic change over the 551 00:34:29,480 --> 00:34:32,719 last several years in this country, and it is happening 552 00:34:32,840 --> 00:34:37,880 at a rapid pace. It's going to require the traditional 553 00:34:38,000 --> 00:34:43,760 energy sources to meet the demand. I think about artificial intelligence, 554 00:34:44,079 --> 00:34:50,000 and you know, being in having lived in places, living 555 00:34:50,039 --> 00:34:53,039 in a place now where you know, Google has to 556 00:34:53,159 --> 00:34:58,840 draw so much and use so much the resources to 557 00:34:59,039 --> 00:35:02,440 you know, to fire this new technology. They're going to 558 00:35:02,519 --> 00:35:07,400 have to use traditional sources where does where. Where does 559 00:35:07,440 --> 00:35:11,440 the climate change alarmist argument to meet up with AI? 560 00:35:16,159 --> 00:35:17,960 Speaker 2: It certainly doesn't meet up with AI. 561 00:35:18,079 --> 00:35:21,480 Speaker 3: The climate alarmists want AI to go away because they 562 00:35:21,519 --> 00:35:24,840 realize how power thirsty it is. And you have companies 563 00:35:24,880 --> 00:35:27,320 like Microsoft that are trying to bring three mile island 564 00:35:27,400 --> 00:35:32,000 back online so that they can power their servers, their 565 00:35:32,079 --> 00:35:35,320 chip manufacturing, their chip farms. 566 00:35:35,079 --> 00:35:36,960 Speaker 2: It's it's it's quite interesting. 567 00:35:37,039 --> 00:35:40,159 Speaker 3: But there's the big tech has come to the realization 568 00:35:40,280 --> 00:35:44,199 that they need a lot of electricity, and it's I 569 00:35:44,199 --> 00:35:47,480 guess it's it's kind of a refreshing that they are 570 00:35:47,519 --> 00:35:51,480 coming back around to realizing this that they actually need coal, 571 00:35:51,679 --> 00:35:54,880 they need natural gas, and they need nuclear. But what's 572 00:35:54,920 --> 00:35:58,480 happening is these companies are doing these massive power purchase 573 00:35:58,519 --> 00:36:04,920 agreements from renewable generators and so when they're not connected 574 00:36:04,920 --> 00:36:07,519 with the grid. I love seeing commercials. I mean, Budweiser 575 00:36:07,599 --> 00:36:09,480 did this during the Super Bowl one time, but we 576 00:36:09,519 --> 00:36:11,400 talked about how they were powered by one hundred percent 577 00:36:11,480 --> 00:36:14,159 renewable electricity, and I said, well, I wish they'd get 578 00:36:14,159 --> 00:36:16,320 off the grid and prove it, because they're certainly not 579 00:36:16,400 --> 00:36:21,039 they're connected to a grid. Their operations are they're just 580 00:36:21,119 --> 00:36:23,320 virtue signaling. And I wish some of these big tech 581 00:36:23,320 --> 00:36:27,400 companies that have these power purchase agreements would in fact 582 00:36:27,519 --> 00:36:30,719 take their electricity from wind and solar. But these power 583 00:36:30,800 --> 00:36:33,639 purchase agreements means that when costs go up because they're 584 00:36:33,760 --> 00:36:38,159 using more power from traditional sources, that it's the residential 585 00:36:38,239 --> 00:36:41,480 ratepayers and the small businesses people that don't have the 586 00:36:41,519 --> 00:36:46,239 ability to negotiate power purchase agreements, they get bearing the 587 00:36:46,280 --> 00:36:49,519 brunt of the cost. Last year, in Texas alone, it 588 00:36:49,599 --> 00:36:53,119 was two point three billion dollars that were paid to 589 00:36:53,440 --> 00:36:57,079 natural gas and coal to stand by in case the 590 00:36:57,119 --> 00:36:58,280 wind didn't blow or the. 591 00:36:58,239 --> 00:37:01,199 Speaker 2: Sun didn't shine. Two point three billion dollars. 592 00:37:01,280 --> 00:37:03,239 Speaker 3: None of that was absorbed by any of these big 593 00:37:03,280 --> 00:37:06,239 companies that have power purchase agreements. It was absorbed by 594 00:37:06,320 --> 00:37:09,239 residential ratepayers and small businesses. And that's why the costs 595 00:37:09,239 --> 00:37:11,800 for electricity are going up. And it's one of the 596 00:37:11,840 --> 00:37:16,800 reasons why these companies are opposed to reforms that would 597 00:37:16,920 --> 00:37:20,639 set a reliability standard for all generation to be on 598 00:37:20,719 --> 00:37:23,559 the grid because they know that wind and solar can't 599 00:37:23,599 --> 00:37:27,079 meet that requirement. And if you pass any of those requirements, 600 00:37:27,480 --> 00:37:30,880 then a pass through provision in these power purchase agreements 601 00:37:31,000 --> 00:37:34,719 gets triggered and the renewable providers come back and renegotiate 602 00:37:34,880 --> 00:37:38,400 with companies like Google and Facebook and Meta and some 603 00:37:38,480 --> 00:37:40,719 big oil and gas companies that use a ton of 604 00:37:40,760 --> 00:37:44,679 electricity that have these power purchase agreements as well. So 605 00:37:45,000 --> 00:37:47,880 it was really interesting this last legislative session in Texas 606 00:37:48,199 --> 00:37:51,559 that we were trying to get some efforts to improve 607 00:37:51,599 --> 00:37:54,920 the affordability and reliability of our grid by having a 608 00:37:54,960 --> 00:37:59,199 reliability standard for all generators. That it was big oil 609 00:37:59,280 --> 00:38:03,360 and big tech and manufacturers that were fighting us in 610 00:38:03,400 --> 00:38:08,239 that effort because they're reaping the benefits of residential ratepayers 611 00:38:08,239 --> 00:38:11,320 having to pick up the tab on reliability. 612 00:38:12,639 --> 00:38:15,840 Speaker 1: I think I remember that Budweiser commercial in the Super Bowl. 613 00:38:15,920 --> 00:38:20,880 Wasn't Dylan mulvaney drinking a bud light standing over a 614 00:38:20,920 --> 00:38:22,400 mirror wind farm somewhere? 615 00:38:22,440 --> 00:38:24,719 Speaker 2: If I remember, Yeah, the top of a wind turbine. 616 00:38:24,760 --> 00:38:26,679 Speaker 1: I'm sure, Yeah, that's exactly right. 617 00:38:26,800 --> 00:38:28,880 Speaker 2: She was shooting eating cracker barrel. 618 00:38:29,239 --> 00:38:34,599 Speaker 1: Yeah, he was enjoying bud light and of course getting 619 00:38:34,599 --> 00:38:40,719 a sun tan in the solar panels. You talked about 620 00:38:40,840 --> 00:38:45,760 the consumer. The consumer in Texas has you know, just 621 00:38:45,880 --> 00:38:50,519 like everywhere else there, I see the consumer, uh, you know, 622 00:38:51,079 --> 00:38:53,760 fighting back, standing up and saying, wait a minute, what 623 00:38:54,320 --> 00:38:59,719 these policies have have you know, just been insane for 624 00:39:00,280 --> 00:39:05,840 our pocketbooks. Are you seeing some of the changes on 625 00:39:05,880 --> 00:39:12,280 that front, consumers saying enough is enough? And are their 626 00:39:12,360 --> 00:39:15,719 lawmakers policymakers listening to the consumer. 627 00:39:17,400 --> 00:39:21,480 Speaker 3: Well, unfortunately, lawmakers aren't listening to the consumer. In Texas, 628 00:39:21,559 --> 00:39:25,559 we advanced legislation for the first time through a House committee, 629 00:39:25,599 --> 00:39:28,920 but then it was completely stalled because you have a 630 00:39:28,920 --> 00:39:31,760 lot of these lawmakers that think that wind and solar 631 00:39:31,840 --> 00:39:34,079 create a lot of jobs. And this is something that 632 00:39:34,119 --> 00:39:36,360 I fell victim to when I was in the legislature. 633 00:39:36,400 --> 00:39:37,000 Speaker 2: I would hear. 634 00:39:36,880 --> 00:39:40,280 Speaker 3: About how many jobs something was going to create, and 635 00:39:40,280 --> 00:39:45,119 would you support these economic development tools, these incentives, different 636 00:39:45,239 --> 00:39:48,639 rules and in some cases tax breaks or tax credits, 637 00:39:49,199 --> 00:39:51,880 and in some cases just complete direct incentives in the 638 00:39:51,880 --> 00:39:53,719 form of cash from taxpayers. 639 00:39:54,000 --> 00:39:55,360 Speaker 2: But we were told like, hey. 640 00:39:55,199 --> 00:39:57,519 Speaker 3: This is going to create so many jobs, and it 641 00:39:57,599 --> 00:40:00,320 will those people will in turn spend mon money and 642 00:40:00,400 --> 00:40:03,079 generate sales tax and it will be a net positive. But 643 00:40:03,119 --> 00:40:05,639 then you come to find out the inefficiency of those 644 00:40:05,760 --> 00:40:10,880 jobs when you go to a restaurant, a sandwich place, 645 00:40:11,079 --> 00:40:14,480 or a place that makes salads. That's quick. You typically 646 00:40:14,519 --> 00:40:16,559 have one or two person that may be helping you. 647 00:40:17,440 --> 00:40:20,199 But if you had eighteen people that were helping you, 648 00:40:20,280 --> 00:40:22,159 think of all the jobs that would create. But it's 649 00:40:22,320 --> 00:40:26,760 inefficient and not necessary. And that's what we see. Over 650 00:40:26,960 --> 00:40:30,679 eight times the number of jobs required to create an 651 00:40:30,800 --> 00:40:34,800 energy equivalent of natural gas and coalon nuclear, it's over 652 00:40:34,880 --> 00:40:37,800 eight times more jobs are required to create that same 653 00:40:37,840 --> 00:40:40,000 amount of energy for wind and solar. 654 00:40:40,159 --> 00:40:43,880 Speaker 2: That's not an efficient use of capital. It's not an 655 00:40:43,920 --> 00:40:47,800 efficient use in generation of energy. It's a waste. 656 00:40:47,840 --> 00:40:49,719 Speaker 3: And so we need to look at things that have 657 00:40:49,800 --> 00:40:53,960 a small footprint on our habitat that take up less land, 658 00:40:54,079 --> 00:40:55,559 and then we need to look at things that are 659 00:40:55,559 --> 00:41:00,400 actually efficient that require fewer jobs to produce more energy 660 00:41:00,400 --> 00:41:04,079 because the consumer winds in that case, and that's just 661 00:41:04,119 --> 00:41:06,559 certainly not the case of the wind and solar. Natural gas, 662 00:41:06,599 --> 00:41:10,440 coal and nuclear have the smallest footprint of energy used, 663 00:41:10,440 --> 00:41:14,000 with nuclear being the farest leader there. They're the smallest 664 00:41:14,239 --> 00:41:18,559 safest form of electric generation there is in wind and 665 00:41:18,559 --> 00:41:22,480 solar take up, and then apparently they require so many 666 00:41:22,480 --> 00:41:25,280 more jobs to produce an equivalent amount of energy. But 667 00:41:25,320 --> 00:41:27,599 I think the public perception on some of these things 668 00:41:27,639 --> 00:41:29,440 is starting to change, and so what happens is the 669 00:41:29,480 --> 00:41:32,800 politicians will lag behind. They'll hear from their constituents they're 670 00:41:32,840 --> 00:41:37,480 tired of their electric bills increasing. They want these utilities 671 00:41:37,519 --> 00:41:41,239 to stop pushing woke political agendas, and so then the 672 00:41:41,280 --> 00:41:44,559 politicians and I hope within the next couple of years, 673 00:41:45,000 --> 00:41:49,440 Texas can actually put a reliability standard in statute on 674 00:41:49,519 --> 00:41:52,119 the grid so that Texans can not only count on 675 00:41:52,599 --> 00:41:56,920 reliable electricity, but it will also be affordable for the 676 00:41:56,960 --> 00:41:59,880 first time. That will be a nice change if we 677 00:41:59,880 --> 00:42:02,159 can get something done like that in the next two years. 678 00:42:02,199 --> 00:42:04,320 But hopefully the politicians are going to be hearing from 679 00:42:04,320 --> 00:42:10,920 their constituents who are rejecting form and dependent subsidy dependent 680 00:42:10,960 --> 00:42:13,760 wind and solar and start embracing traditional fuels so that 681 00:42:13,800 --> 00:42:16,639 we have more market reforms that lead to more generation 682 00:42:16,920 --> 00:42:18,440 of those traditional sources. 683 00:42:19,119 --> 00:42:23,440 Speaker 1: Indeed, there is a lot of money fueling the climate 684 00:42:24,239 --> 00:42:30,880 change law fare zone and flooding that zone. Where do 685 00:42:30,920 --> 00:42:32,400 you see all of this going from here? 686 00:42:32,800 --> 00:42:33,039 Speaker 2: Well? 687 00:42:33,480 --> 00:42:33,719 Speaker 1: I do. 688 00:42:34,039 --> 00:42:36,480 Speaker 3: Again, back to public perception, I think it's changing. People 689 00:42:36,519 --> 00:42:39,880 are starting to embrace nuclear. They recognize it's safe, it's dense, 690 00:42:39,920 --> 00:42:44,079 it's affordable, it's reliable. Maybe not as affordable now because 691 00:42:44,119 --> 00:42:46,360 of some of the regulatory hurdles, but I think with 692 00:42:46,519 --> 00:42:50,880 President Trump's eos regarding this, we're going to see some 693 00:42:50,920 --> 00:42:53,519 regulations get pulled back, which will reduce the cost and 694 00:42:53,559 --> 00:42:54,880 hopefully speed it up to market. 695 00:42:54,880 --> 00:42:58,639 Speaker 2: But we're still a decade away. I think there's still going. 696 00:42:58,559 --> 00:43:01,559 Speaker 3: To be left wing money, but fortunately some of that 697 00:43:01,639 --> 00:43:06,559 left wing money is drying up because groups or agencies 698 00:43:06,679 --> 00:43:11,519 like USAID are no longer funding these leftist organizations. 699 00:43:12,320 --> 00:43:15,960 Speaker 2: So I think the movement is losing. 700 00:43:15,639 --> 00:43:18,400 Speaker 3: A lot of its steam because it's losing a lot 701 00:43:18,440 --> 00:43:23,880 of taxpayer dollars, and that is just absolutely fantastic. I 702 00:43:23,880 --> 00:43:28,440 think that's why they're screaming from the rooftops and an 703 00:43:28,440 --> 00:43:33,960 incredible transparency for taxpayers, and then the fact that these 704 00:43:33,960 --> 00:43:37,079 taxpayer dollars are not funding these organizations that are working 705 00:43:37,119 --> 00:43:40,639 against the best interest in the economic prosperity of this country. 706 00:43:41,360 --> 00:43:44,920 So I think it is we've got to keep the 707 00:43:44,920 --> 00:43:46,559 fight up. There's no doubt about it. At this state 708 00:43:46,599 --> 00:43:46,840 and the. 709 00:43:46,760 --> 00:43:49,000 Speaker 2: Federal level, we have to keep the fight up, keep. 710 00:43:48,880 --> 00:43:52,519 Speaker 3: Exposing these organizations for how anti America and they truly are, 711 00:43:52,679 --> 00:43:56,960 how they are still receiving foreign influence, they're receiving dark money. 712 00:43:57,000 --> 00:43:58,360 Speaker 2: We've got to expose this. 713 00:43:58,840 --> 00:44:01,559 Speaker 3: But the fact that they're losing taxpayer dollars is incredibly 714 00:44:01,599 --> 00:44:02,920 beneficial to taxpayers. 715 00:44:03,639 --> 00:44:06,719 Speaker 1: And we always know things are subject to change politically. 716 00:44:06,880 --> 00:44:12,519 We're coming up into the next midterm cycle, so always 717 00:44:12,599 --> 00:44:16,400 aware of that fact. Thanks to my guest today, Jason Isaac, 718 00:44:16,440 --> 00:44:20,360 founder and CEO of the American Energy Institute, you've been 719 00:44:20,440 --> 00:44:23,199 listening to another edition of the Federalist Radio Hour. I'm 720 00:44:23,239 --> 00:44:27,000 Matt Kittle, Senior Elections correspondent at the Federalist. We'll be 721 00:44:27,079 --> 00:44:30,559 back soon with more. Until then, stay lovers of freedom 722 00:44:31,000 --> 00:44:32,280 and anxious for the frame.