Given that the cost of gas has risen dramatically under Biden and that he’s been (unsuccessfully) begging the Russians and Saudis to release more oil to lower the cost, you might expect him to at least fund projects abroad that would produce more fuel and lower the cost.
Even if he’s ideologically opposed to drilling in the US for some reason, he would at least want it to be drilled abroad, especially since he’s been pressuring other nations to drill more.
Well, that would be reasonable, so it’s the exact opposite of what President Brandon is doing. Instead of providing aid to those projects that might produce fuel and thus lower the cost for Americans, he’s halting all aid to such projects. As ZeroHedge reports:
this morning Biden did the only thing he could: he ordered an immediate halt to federal support for coal plants and other carbon-intensive projects… overseas, a move which Bloomberg dubs a “a major policy shift designed to fight climate change and accelerate renewable energy worldwide.” In reality it is nothing but another exercise in optics and placating the outspoken green socialist front for a few weeks.
“Our international energy engagement will center on promoting clean energy, advancing innovative technologies, boosting U.S. clean-tech competitiveness and providing financing and technical assistance to support net-zero transitions around the world,” according to the document.
According to Bloomberg, the “wide-ranging” directive bars for the first time any U.S. government backing for such ventures, potentially affecting billions of dollars in annual funding as well as diplomatic and technical assistance.
The “net zero” concept referred to is Biden’s plan to make the US government a “net zero” carbon emitter by 2050, a goal that will require the government to not only purchase tens of thousands of electric vehicles and rework from where it buys energy, but also, apparently, to cut aid to projects that would produce plentiful and cheap coal, natural gas, and oil.
In fact, ZeroHedge reports that the total amount of funding to be cut to natural gas projects alone is in the neighborhood of $16 billion. Natural gas is one of the cheapest and cleanest sources of energy.
And not only would it make it more difficult to drill for or pump natural gas, the policy would also slash funding for projects that allow European and Caribbean companies to import natural gas, meaning that Brandon is simultaneously making the Europeans more reliant upon Russian natural gas and making it harder for US energy companies to make money by exporting natural gas.
Oh, and just because the US is backing out doesn’t mean that the projects won’t be funded. Instead of us providing the support, the Chinese likely will. So Biden just handed a slate of projects to Red China, which will likely use its funding ability to expand its footprint in regions abandoned by the climate-conscious Brandon.
And the Chinese and Russians, both of whom will be significantly helped by Brandon’s newest policy disaster, care far less about the environmental impact of their projects. As ZeroHedge notes:
Paradoxically, environmental advocates – who have lobbied Biden’s administration to make the shift – will be delighted, arguing that the construction of new oil pipelines, liquefied natural gas terminals and similar projects is not consistent with efforts to limit global temperature rise to 1.5 degrees Celsius (2.7 degrees Fahrenheit). Of course, in their typical myopic fashion, they ignore that by handing over funding of offshore project to a long list of willing funders, all the US is doing is abdicating at some control over what is being built internationally, and ceding the “green agenda” to the Chinas and Russias of the world.
So, not only will Brandon help out the Chinese and Russians, both of whom are our enemies abroad, his actions will also harm the environment, that amorphous entity he professes to love so much. Thanks, Joe!
This story syndicated with permission from Trending Politics