Alex Epstein

Alex Epstein @AlexEpstein

We don’t have to speculate what the IRA will do to American energy. We can see it in Europe, where IRA-like policies have led to a lack-of-fossil-fuel crisis, including mass hardship, deindustrialization, fear of freezing this winter, and subservience to Russia. — PolitiTweet.org

Alex Epstein @AlexEpstein

To call a law that makes energy expensive and unreliable the Inflation Reduction Act is as Orwellian as saying Freedom is Slavery. Rising energy costs mean higher costs for every industry, which means higher costs for ever consumer. The IRA is really The IA: The Inflation Act. — PolitiTweet.org

Alex Epstein @AlexEpstein

Summary: The "IRA" is a 4-step recipe for making our energy expensive and unreliable 1. Make us more dependent on unreliable electricity 2. Impose new oil/gas taxes 3. Give EPA more power to restrict fossil fuels 4. Give more power to anti-FF activists It must be reversed. — PolitiTweet.org

Alex Epstein @AlexEpstein

At a time of energy crisis when we need more energy development, the IRA is giving potentially 10s of $billions to activists who have a limitless lust to stop fossil fuel and nuclear projects. And this is a law that was justified by many as *progress* on energy infrastructure! — PolitiTweet.org

Alex Epstein @AlexEpstein

To get a sense of what "environmental justice" means in practice, a Biden-commissioned EJ report included "taking bold action to sunset investment by 2030 in fossil fuels…and nuclear energy…set requirements for 100% renewable electricity by 2030." I.e., destroying US energy. https://t.co/g6EyBgpLDy — PolitiTweet.org

Alex Epstein @AlexEpstein

The IRA provides $billions in funding for projects and funding in "disadvantaged communities," an undefined term that means the money can be directed to organizations and activists that help a partisan machinery or undermine reliable energy at the executive's discretion. https://t.co/vHhUtB2z0R — PolitiTweet.org

Alex Epstein @AlexEpstein

The IRA authorizes $billions to be given to anti-fossil-fuel, anti-nuclear activists under the banner of "environmental justice."One of the main "environmental justice" outlets is "community-based nonprofits." This is a slush fund for any activist cause the government wants. https://t.co/xqpAeomnBW — PolitiTweet.org

Alex Epstein @AlexEpstein

One major cause of today’s energy crisis is the outsize power that various anti-fossil-fuel, anti-nuclear activists have to stop crucial projects: drilling rigs, power plants, pipelines, export facilities, etc. Instead of neutralizing these activists the IRA empowers them. — PolitiTweet.org

Alex Epstein @AlexEpstein

Step 4 of the IRA's recipe for destroying American energy— Give more power to anti-fossil-fuel activists "Environmental justice" activists have handicapped US energy, especially crucial infrastructure like pipelines. The IRA offers $billions for activists to do more damage. — PolitiTweet.org

Alex Epstein @AlexEpstein

At a time when The EPA’s use/abuse of its existing powers has crippled our grid and handicapped our fossil fuel industry, the last thing we need is more power and $ for EPA recklessness. The IRA does exactly this and thus poses a truly dire threat to our grid and our prosperity. — PolitiTweet.org

Alex Epstein @AlexEpstein

The IRA not only increases the EPA’s power to irrationally restrict fossil fuel use, it increases its budget by billions of dollars. This means more agents to to delay, block, and prohibit domestic energy projects. — PolitiTweet.org

Alex Epstein @AlexEpstein

According to the NYT, IRA supporters believe the language "makes pretty clear that greenhouse gases are pollutants under the Clean Air Act". Which gives the EPA a virtually limitless mandate to restrict fossil fuel use in the name of preventing pollution. — PolitiTweet.org

Alex Epstein @AlexEpstein

Perhaps the single most destructive aspect of the IRA is its repeated language referring to greenhouse gases like CO2 as “air pollutants”—language designed to get the EPA to further restrict fossil fuels under the auspices of the Clean Air Act. https://t.co/lPZq4Ulp0u — PolitiTweet.org

Alex Epstein @AlexEpstein

We need government to recognize our electricity emergency and immediately reform the EPA to do proper cost-benefit analysis on its actions so it doesn’t destroy our grid. Instead, the IRA just gave the EPA more money and power to recklessly attack fossil fuel use. https://t.co/zOiAKdUCQr — PolitiTweet.org

Alex Epstein @AlexEpstein

Thanks largely to irrational EPA actions, the next 7.5 years are scheduled to be a bloodbath of reliable capacity retirements. There are 93 GW of announced coal plant retirements, plus up to 92 more GW are at risk retiring early due to new EPA rules. That’s ⅕ reliable capacity! — PolitiTweet.org

Alex Epstein @AlexEpstein

Arguably the largest single cause of today’s electricity crisis, in which reliable power plants are being shut down without reliable replacements, is the EPA—which has aggressively acted to shut down coal plants without considering the catastrophic costs of an unreliable grid. — PolitiTweet.org

Alex Epstein @AlexEpstein

Step 3 of the IRA's recipe for destroying American energy: Give the EPA more power to restrict fossil fuels The EPA’s use/abuse of its existing powers has crippled our grid and handicapped our fossil fuel industry. The IRA gives EPA much more $ and power to do far more damage. — PolitiTweet.org

Alex Epstein @AlexEpstein

Anytime the government adds new taxes to the oil and gas industry it is increasing costs and thereby discouraging production. To do this anytime is suspect. To do it during an energy crisis where oil and gas are desperately needed is ruinous. — PolitiTweet.org

Alex Epstein @AlexEpstein

The IRA has 4 new taxes that make oil/gas production more expensive: 1. Higher federal royalty payments 2. A high and anti-drilling min. corporate tax 3. A methane fee that penalizes US producers 4. A “Superfund” tax to pay for impacts today’s producers are not responsible for — PolitiTweet.org

Alex Epstein @AlexEpstein

The world is in the midst of an energy crisis—specifically a crisis of lack of fossil fuel supply, which has increased the cost of energy and increased Europe’s dependence on Russia. To help ourselves and our allies we need to foster FF production. Instead, the IRA punishes it. — PolitiTweet.org

Alex Epstein @AlexEpstein

Step 2 of the IRA's recipe for destroying American energy: Impose new oil/gas taxes during an energy crisis At a time when we and the world desperately need more oil and gas the IRA imposes 4 new taxes on the oil/gas industry that make production more expensive. — PolitiTweet.org

Alex Epstein @AlexEpstein

If your goal was to ruin our grid you’d do exactly what IRA does 1) reduce the *supply* of reliable electricity via solar/wind favoritism 2) increase *demand* for electricity via EV and other electricity subsidies And that’s only the beginning of the IRA’s energy destruction… — PolitiTweet.org

Alex Epstein @AlexEpstein

To make matters still worse, the IRA not only drives the shutdowns of reliable electric capacity while subsidizing us into using more electric cars, it also coerces us into increasing electricity use in many other ways: electric heating, electric cooking, electric water heating. — PolitiTweet.org

Alex Epstein @AlexEpstein

At the same time the IRA is hastening the shutdown of reliable electricity generation, it is—insanely—promoting far more use of electric cars via subsidies. California recently previewed the IRA by telling citizens there wasn’t enough power for EVs even at 3% market penetration. https://t.co/TShGIh93e2 — PolitiTweet.org

Alex Epstein @AlexEpstein

Here are current projections through 2030 for retirements vs. additions of reliable electricity capacity. Imagine looking at this disaster-in-waiting and saying “Let’s shut down even more reliable power plants!” Yet that’s what every supporter of the IRA effectively did. https://t.co/778XwfRInF — PolitiTweet.org

Alex Epstein @AlexEpstein

Even before the IRA, government policy was already threatening up to 185 GW of coal power in the next 7 years—about 1/5 of reliable capacity!—with the vast majority not replaced by reliable gas or nuclear. By increasing solar/wind subsidies the IRA will ruin our grid even more. https://t.co/uOoWeQ6BNQ — PolitiTweet.org

Alex Epstein @AlexEpstein

Solar/wind subsidies not only drive the shutdown of reliable power plants and loot taxpayers, they also inflate electricity prices. Because solar and wind can go near-zero at any given time, they don’t replace most of the costs of reliable power plants—they add to them. https://t.co/RRWP4WwytG — PolitiTweet.org

Alex Epstein @AlexEpstein

Here’s how massive the IRA’s solar/wind subsidies are. They will pay up to 2/3 of the cost of wind turbines—the equivalent of paying $60-70K for a $100K EV! They also further subsidize solar/wind by paying 50%+ of hydrogen from solar/wind that’s nowhere near competitive. — PolitiTweet.org

Alex Epstein @AlexEpstein

The IRA pretends to be pro-nuclear by adding nuclear to its subsidized forms of energy. But since nuclear overregulation makes new plants cost-prohibitive, the IRA’s endless "clean energy" subsidies = endless solar/wind subsidies = more defunding and shutting down reliable power. — PolitiTweet.org

Alex Epstein @AlexEpstein

The "ITC" and "PTC" solar/wind subsidies pay utilities to shut down or slow down reliable gas and coal plants whenever the sun shines or the wind blows. This *defunds* reliable plants, causing many to be shut down. The IRA extends these ruinous subsidies *indefinitely*. — PolitiTweet.org