ResNet Review is the Energy Newsletter for the Shalennial Generation

Here’s our top Energy Headlines for May:

1. THE ROCKEFELLERS HATE US 😤

2. TEXAS DIDN’T HEAR NO BELL 🔔

THE ROCKEFELLERS HATE US

• The Rockefeller Family Fund is funding litigation and other support for more than 30 lawsuits around the U.S. against the fossil fuel industry. Exxon is a defendant in all of them. The cases aim to collect billions of dollars from Exxon and its peers for their contributions to climate change and the damages caused by it.

  • This article is insane. Imagine if 100 years from now, Michael Jordan’s grandkids decided they were going to spend their inheritance suing Nike.

• A fifth-generation heir to the Rockefeller fortune, Miranda Kaiser was busy raising her children in Florence, Italy, when her older brother presented her with his dying wish. After being diagnosed with terminal brain cancer, David Kaiser asked his only sibling to become the new standard-bearer for the campaign he had started against Exxon Mobil and other oil companies over what he saw as the industry’s deception about climate change and responsibility for its consequences.

  • First of all, what an outrageously alpha dying wish. Not “look after my kids” or “hey can you take care of mom”. No. “Hey, can you continue funding frivolous lawsuits against the 17th largest company in the world on my behalf? Yes, that company our grandfather started that gave us all the money.” GTFO

• Kaiser described the campaign as a moral imperative for the Rockefellers, who derived so much wealth from fossil fuels. “It would be unconscionable to benefit from something that you then know is harming the world and not do something about it,” Kaiser said.

  • When Kaiser was asked,  “hey what about instead of suing Exxon and accomplishing nothing, and since you seem so turned off by where all your money came from, what if you just gave the $10 billion that remains in the Rockefeller Trust to support solutions that actually lower emissions (rather than suing a company already investing $20B in said solutions)?”... she declined to comment.

• Kaiser’s campaign is making a “mockery of the legal system,” said Exxon spokeswoman Emily Mir, adding: “Using family wealth and status to do their personal bidding is somewhere between privileged and unethical, and even more importantly, it does nothing to lower emissions.”

  • Ouch.

• The Rockefeller Family Fund influenced President Biden’s decision in January to pause approval of new liquefied natural gas exports.

  • Ahhh okay. So The Rockefellers don’t want to actually decrease carbon emissions, they want to INCREASE them. This all makes sense.

TEXAS DIDN’T HEAR NO BELL

• The operator of the Texas power system, ERCOT, is on track to smash generation records from both clean and fossil fuel sources in 2024 as total power needs continue to grow.

  • Texas truly going for the Triple Crown: 1. Most clean energy generated 2. Most fossil fuels power generated 3. Most Zyn consumed

• Clean power generation total through May 27 was a record 3.35 million megawatt hours (MWh), according to LSEG.That tally marks a 7.5% advance over the same period in 2023, and highlights the rapid pace of power sector decarbonization efforts in key markets across the United States.

  • Reminder: make sure everyone puts their local environmentalist in a pretzel today by reminding them that Texas (not California) is the largest producer of clean energy in the US.

• To accommodate the volatility in clean power output levels, ERCOT operators maintain large volumes of fossil fuel-based power round-the-clock. In 2023, ERCOT gas-fired power generation increased by 54% from the total generated in May.

  • Nothing screams “please God let the AI data center demand save us” like gas-fired power generation being UP 54% and nat gas prices being DOWN 49%.

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