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The Blaze Media Feed
The Blaze Media Feed
30 w

Big Oil turns on Trump over Paris accord exit for all the wrong reasons
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www.theblaze.com

Big Oil turns on Trump over Paris accord exit for all the wrong reasons

One of Donald Trump’s priorities upon returning to the Oval Office in January is to withdraw the United States from the Paris Climate Agreement. This move is welcome news for those who oppose the decarbonization agenda, which undermines freedom, prosperity, and mobility. Given that petroleum the bête noire of the global climate cult, you might expect major oil companies would support U.S. withdrawal from the agreement. That doesn’t appear to be the case.Soon after Trump’s intentions for the Paris agreement became clear, major oil companies signaled their opposition to his decision. Instead, they favor continuing down the path of heavy regulation and government subsidies for their industry, aligned with the priorities of the global climate community. As reported by Fox News, “Big Oil is calling on President-elect Donald Trump to keep the U.S. in the Paris climate agreement after withdrawing from the treaty during his first term.”It’s disheartening to see a once-iconic American oil company transform into a post-capitalist entity that depends heavily on government funding for its revenue.Why would companies whose primary business is extracting and selling petroleum align themselves with an unelected body openly hostile to oil and committed to achieving "net zero" production within a generation?Unfortunately, this approach is a betrayal to those who have long defended Big Oil as a pillar of capitalism. Big Oil’s actions now appear to be in direct conflict with free-market principles.By supporting government-mandated climate compliance, major oil companies can eliminate competition from smaller players in the short term, consolidating their market dominance. In the long term, they aim to secure government grants and subsidies for carbon-related initiatives, positioning these as a significant revenue stream.ExxonMobil has made it clear that it sees the government as its future largest customer, carbon-related initiatives as its primary product, and government funding as its main revenue source. In the short term, the company seeks to leverage government power, under the Paris Climate Agreement, to eliminate competition from independent oil producers.The Wall Street Journal reports that ExxonMobil CEO Darren Woods opposes Donald Trump’s plan to withdraw from the climate accord. According to the article, Woods argues against the withdrawal, citing ExxonMobil’s efforts to expand outreach to government officials and advocate for “global carbon accounting measures.”While the specifics of “global carbon accounting” remain unclear, it seems far removed from real-world generally accepted accounting principles. It is reasonable to assume that this concept involves government officials distributing taxpayer money to favored entities — a group Woods clearly intends for ExxonMobil to join.The WSJ story goes on to say that ExxonMobil and other major oil companies are lobbying the incoming GOP leadership to preserve tax credits included in Joe Biden’s “signature climate law,” the Inflation Reduction Act. These credits reward technologies like carbon capture, in which the companies are heavily invested.The IRA is a boon for Big Oil’s carbon-related projects. During an energy conference last March, Woods voiced his support for the legislation, stating, “I was very supportive of the IRA — I am very supportive of the IRA …”In plain terms, ExxonMobil wants more taxpayer money and federal tax credits to fund its carbon mitigation initiatives. Meanwhile, you better believe small, independent drillers in West Texas are left out of these taxpayer subsidies. ExxonMobil, by contrast, is angling to make taxpayer subsidies a major source of revenue.The Guardian in August highlighted how ExxonMobil has pivoted its business strategy to heavily rely on government subsidies for its carbon capture and storage operations. The company launched its Low Carbon Solutions division in 2021 and began lobbying for direct government funding. Through the Inflation Reduction Act, ExxonMobil secured a subsidy of $85 per ton of captured carbon. Dan Ammann, head of the Low Carbon Solutions unit, said the carbon capture business could eventually become “larger than ExxonMobil’s base business.”It’s disheartening to see a once-iconic American oil company transform into a post-capitalist entity that depends heavily on government funding for its revenue.Trump’s selection of Chris Wright as energy secretary offers a glimmer of hope for the American petroleum industry.In the oil patch, Wright’s appointment has been met with much rejoicing. As the founder and CEO of Liberty Energy, Wright understands well the challenges faced by independent oil producers. Unlike major oil company executives who apologize for their industry and align themselves with climate activists, Wright unapologetically defends the petroleum sector. Described as a “dedicated humanitarian on a mission to better human lives by expanding access to abundant, affordable, and reliable energy,” Wright has earned respect across the industry.But Wright’s fight to protect American oil won’t just involve battling left-wing advocates of net-zero policies. He will also face opposition from major oil company executives who have aligned with radical climate agendas, working to suppress independent producers while ceding control of the oil business to the government. He’ll need all the help he can get.
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Gamers Realm
Gamers Realm
30 w

Strinova, the third-person tactical shooter with anime waifus, has arrived
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www.pcgamesn.com

Strinova, the third-person tactical shooter with anime waifus, has arrived

Strinova has got a very clear game plan - take the competitive, tactical shooter gameplay from the likes of Valorant and Counter-Strike 2, make it third-person, and turn every character into anime eye candy. Is it a recipe for success? To an extent. The shooter’s first 24 hours on Steam have gone well when it comes to player counts, but on the other side of the coin, it’s suffering from a real mixed bag of user reviews. Continue reading Strinova, the third-person tactical shooter with anime waifus, has arrived MORE FROM PCGAMESN: Best FPS games, Best anime games, Best multiplayer games
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Gamers Realm
Gamers Realm
30 w

Resident Evil like WW1 horror shooter Trench Tales kicks off new playtests
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www.pcgamesn.com

Resident Evil like WW1 horror shooter Trench Tales kicks off new playtests

Games from super talented solo developers are becoming more and more common these days, but sometimes one comes along that makes you question how just one person is behind it. Trench Tales is one such game. It’s a stunning yet haunting WW1 third-person shooter that feels like a blend of Resident Evil and Sniper Elite (albeit with fewer slow-motion exploding organs). While it's a way off releasing at the moment and is without a launch date or window, there is still a chance for you to try it early, because its creator is hosting a series of playtests. Continue reading Resident Evil like WW1 horror shooter Trench Tales kicks off new playtests MORE FROM PCGAMESN: Best horror games, Best war games, Best WW2 games
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Twitchy Feed
Twitchy Feed
30 w

Georgetown Law in HOT Water After Denying Pregnant Mom Exam Accommodations
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twitchy.com

Georgetown Law in HOT Water After Denying Pregnant Mom Exam Accommodations

Georgetown Law in HOT Water After Denying Pregnant Mom Exam Accommodations
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RedState Feed
RedState Feed
30 w

Study Says Married Men Age More Slowly Than Single Men. About That ...
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redstate.com

Study Says Married Men Age More Slowly Than Single Men. About That ...

Study Says Married Men Age More Slowly Than Single Men. About That ...
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RedState Feed
RedState Feed
30 w

UPDATED: Sources Confirm Trump Has Tapped Billionaire Hedge Fund Manager to Lead Treasury
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redstate.com

UPDATED: Sources Confirm Trump Has Tapped Billionaire Hedge Fund Manager to Lead Treasury

UPDATED: Sources Confirm Trump Has Tapped Billionaire Hedge Fund Manager to Lead Treasury
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RedState Feed
RedState Feed
30 w

'Last Man Out of Afghanistan' Has Promotion to Four-Star General Scuttled Over Afghanistan Withdrawal
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redstate.com

'Last Man Out of Afghanistan' Has Promotion to Four-Star General Scuttled Over Afghanistan Withdrawal

'Last Man Out of Afghanistan' Has Promotion to Four-Star General Scuttled Over Afghanistan Withdrawal
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Trending Tech
Trending Tech
30 w

The Supreme Court will decide the fate of America’s low-income broadband fund
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www.theverge.com

The Supreme Court will decide the fate of America’s low-income broadband fund

Illustration by Cath Virginia / The Verge | Photos via Getty Images The Supreme Court agreed to hear arguments on a case involving funding for a major broadband subsidy program, the Universal Service Fund (USF). SCOTUS granted cert in a pair of cases called Federal Communications Commission v. Consumers’ Research, and Schools, Health & Libraries Broadband Coalition v. Consumers’ Research, which were consolidated for oral arguments. They center around whether Congress inappropriately delegated lawmaking function to the FCC by letting it set contribution rates for telecommunications companies to pay into the nonprofit Universal Service Administration Company, which manages the USF. It also asks whether the FCC delegated too much authority to a private entity by letting USAC manage the subsidy program. The... Continue reading…
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NEWSMAX Feed
NEWSMAX Feed
30 w

Texas Expands Floating Border Wall in Rio Grande River
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Texas Expands Floating Border Wall in Rio Grande River

Texas Republican Gov. Gregg Abbott announced Friday that the state has bolstered border security with the addition of more buoys to its floating marine barrier in the Rio Grande River and the installation of more razor wire in Eagle Pass, Texas.
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NEWSMAX Feed
NEWSMAX Feed
30 w

GOP Seeks Probe Into Planned Parenthood's Federal Funding
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GOP Seeks Probe Into Planned Parenthood's Federal Funding

More than 100 Republican members of Congress asked the Government Accountability Office on Friday to investigate and report on the amount of federal funding that has been awarded to abortion providers, including Planned Parenthood, over the past three years.
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