JP Morgan CEO Jamie Dimon is no stranger to the woke agenda but when it comes to climate activists attempting to force progress, he had a choice message for them to get through their “thick skulls.”
Since day one of his administration, President Joe Biden has waged a war on the oil and gas industry by shutting down pipelines, canceling leases, and adding burdensome regulations. Those decisions crippled American energy independence in the name of a “greener” future, but on a call with wealthy clients Tuesday, Dimon contended those choices that have devastated the U.S. economy were also regressive when it comes to lowering carbon emissions, according to Business Insider.
“Why can’t we get it through our thick skulls,” the CEO reportedly said during the call, “that if you want to solve climate [change], it is not against climate [change] for America to boost more oil and gas?”
“We should focus on climate. The problem with that is because of high oil and gas prices, the world is turning back on their coal plants,” he explained in the simplest terms. “It is dirtier.”
Though environmental groups had ranked JP Morgan Chase as the worst offender when it comes to financing fossil fuels since the Paris Accords with $317 billion pumped into the industry between 2016 and 2020, the company has embraced the globalist control metrics of Environmental, Social and Governance (ESG) scores and made a sustainability pledge stating, “We are applying our capital, data, expertise, and other resources to help address climate change and promote long-term, innovative solutions for a more sustainable future.”
That commitment included the goal of “net-zero emissions by 2050. By working directly with clients to develop and finance their transition strategies and goals, we will help them navigate the challenges and opportunities of decarbonization and the energy transition, while also helping accelerate new technologies and business strategies.”
Dimon has been openly critical of Biden’s “incomprehensible and uncoordinated” policies which he argued “have no forethought and no identification of desired outcomes” in his report to shareholders where he promoted the use of natural gas as a way “to diminish coal consumption in an actionable way to reduce CO2 emissions expeditiously.”
JPMorgan Chase CEO blasts Biden admin’s ‘incomprehensible’ policies, ‘dysfunctional’ politics https://t.co/4xyKOc7RDq
— American Wire News (@americanwire_) April 5, 2022
“We have fallen into the rut of false narratives,” he wrote, “which distracts us from facing reality. We don’t define our problems properly. If you have the wrong diagnosis of a problem, you will certainly have the wrong solution.”
“Energy costs are high not because of price gouging but because of the dramatic decline in investments in energy, which results in reduced supply when demand goes up. Regulation has dramatically impeded our ability to build good infrastructure in a timely manner,” Dimon went on before adding, “Our politics are dysfunctional, which has prevented some of our best, brightest and most competent to want to work in government.”
In other words, picking winners and losers, a lesson Biden should have learned as vice president when President Barack Obama’s administration pumped half a billion into Solyndra, only throttles innovation.
In this case, the push for the “Not Ready for Prime Time Players” of wind and solar, which are far from capable of supporting energy grids, has driven the world back to coal to attempt to meet demand without going broke and, according to a report from Reuters, results in double the carbon emissions produced from burning natural gas ultimately accomplishing neither an economic nor environmental win.
DONATE TO BIZPAC REVIEW
Please help us! If you are fed up with letting radical big tech execs, phony fact-checkers, tyrannical liberals and a lying mainstream media have unprecedented power over your news please consider making a donation to BPR to help us fight them. Now is the time. Truth has never been more critical!
- Steve Hilton says Dems will use midterm blue wall to ‘green light’ their radical agenda… and that’s ok - November 9, 2022
- ABC points to Latinos being fooled by ‘disinformation’ to explain DeSantis, GOP success in South Florida - November 9, 2022
- ‘There is an alternative’: Trump backs Rick Scott as a ‘much better’ GOP Senate leader than McConnell - November 9, 2022
We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the ∨ icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.