I am reluctant to point to “a tweet” and spend the time to refute it… but it’s AOC. I’ll use small words.

1) Spot prices have surged for roughly 4 days. There is a shortage of supply at points (natural gas) and therefore the marginal MCF at times sold for significantly more than the run rate. That’s what a free market looks like. Remember buying toilet paper in March?

2) Fossil fuel billionaires? Ok. Bezos. Zuckerburg. Musk. Dorsey. Those are billionaires. You happen to see their stock prices during the pandemic? It’s because they control the supply chains and the media narrative. Miracle of miracles! They had a really enriching 2020. Now compare their stocks to Exxon or Continental or EOG over any time period you wish.

3) Oil and gas has invested $342 billion more drilling wells than it cash flowed in the last 10 years. That’s called subsidizing consumers for 3650 days. 4 days of “jackpot” doesn’t make up for it.

4) Greta is a high school student and we learn about climate change from her. AOC worked in a restaurant and we learn economics from her. Bill is a computer guy and we learn about viruses from him. If you’d like to learn about energy, I suggest talking to someone that actually does it for a living.

5) Wind and sun are intermittent. They will always need backup. That’s not reliable energy policy. That’s distracting voters. Here’s a graph for you in case you are curious where heat comes from.

Love and hugs,
DRW