Squad Member Tlaib Demands Green Energy Only – Banks Unanimously Reject Her
The increasing pressure on banks to stop financing the fossil fuel industry reached a head last week when JP Morgan CEO Jamie Dimon told Rep. Rashida Tlaib (D-MI) that her climate demands would ‘pave the road to Hell for America.’
Tlaib – a member of the infamous “Squad” – spoke with lawmakers and Wall Street banking executives Wednesday during a House Financial Services Committee hearing.
“You have all committed…to transition the emissions from lending and investment activities to align with pathways to net-zero in 2050,” said Tlaib, asking the CEOs of America’s largest consumer banks whether they were aware what steps the International Energy Agency has stated are necessary to meet this goal (and hilariously failing to pronounce the world Celsius).
“So no new fossil fuel production, starting today, so that’s like zero,” she continued. “Please answer with a simple yes or no, does your bank have a policy against funding new oil and gas products?”
When Mr. Dimon said, “Absolutely not,” Tlaib accused him of failing to help Americans with student debt and suggested that everyone with a Chase account close it and find an alternative.
“You obviously don’t care about working class people” and frontline communities that are facing “huge amounts of high rates of asthma, respiratory issues, and so much more…Cancer rates are so high among my communities that I represent,” continued Tlaib.
“We are living through a climate crisis today. And a commitment to net-zero requires a commitment to ending fossil fuel financing. It is important because I want you all to know at the end we’re going to pay the cost of the public health impact. These are people that you’re supposed to be serving, the folks that you’re supposed to be proving and supporting.”
To her dismay, Tlaib received the same response from every banking representative present at the hearing: that they would continue to invest in the oil and gas industry while also supporting the transition to green alternatives.
“We are helping our clients make a transition, and that means we’re lending to both oil and gas companies and to new energy companies and helping monitor their course towards the standards you’re talking about,” said Bank of America CEO Brian Moynihan.
The unsaid warning here is that Americans are struggling to make ends meet amidst record-breaking inflation and that cutting all investment to the oil and gas industry would make the situation even worse.
“The move from coal to natural gas took 40 years,” said American financier Kyle Bass recently on CNBC. “[Transitions] take a very, very, very long time. We can’t just flip a switch.”
Author’s Note: Regardless of whether or not a “climate crisis” exists, you cannot just end investment in one of the nation’s largest industries – especially given the current economic environment; like Dimon said, doing so would be “the road to Hell for America.”
Sources:
Rashida Tlaib Gets Unanimously Rejected by Bank CEO’s on Net Zero Goals
The CEOs of the banking industry have much more sense than this middle eastern goofball! Her constituents would be incredibly damaged if the banking CEOs all did what she wants. They are right, you cannot treat energy sectors as a switch. What she fails to realize is that if she and the squad get their way, the poor and lower middle class will feel the most pain. Tlaib, go home!
Wasn’t Alice just pissed at the Banks and Finance houses going green investments using ESG? Something about States stopping it. So are they ESG or are they fossil mavens? Which is it?
Tlaib like the rest of her squad and party for that matter personify the term nescient – Uneducated in general; lacking knowledge or sophistication.
Just another dumbass Arab
TLAIB ISRAEL IS GREAT AND PALESTINE IS ON THE AXIS OF EVIL. SO WHAT WE NEED IS YOU AND THE RACIST TRASH SQUAD TO HOP A BOAT TO SOMALIA AND TAKE THE FAKE OMAR TRAITOR WITH YOU. SELL EVERYTHING YOU HAVE BUT TAKE YOUR ROACHES WITH YOU.HELP THE SOMALI PEOPLE AND DON’T COME BACK HERE, SHOW THEM THE GREEN NEW DEAL AND GIVE THEM MONEY TLAIB. LIKE I SAID TAKE ALL THE TRASH SQUAD WITH YOU. 1 WAY TRIP
DemonRats… Killing The Fossil Fuel Industry with Unrealistic Expectations
Leftists want to kill off the traditional sources of energy, but will there be anything IN PLACE to replace the energy of the oil, coal, natural gas, and gasoline and in SUFFICIENT QUANTITIES?
Leftists are willing to shut down entire segments of an industry, without having anything in place and established to replace them. They will create Government-mandated Regulations without a known ability for science and industry to be able to fulfill them, Those Government Regulators will not be demanding efficiency standards that are currently technologically feasible and are economically justified, they want MORE! “We POLITICIANS and REGULATORS will tell you exactly what you must do, and you must do it… after all, we’re Politicians and Regulators, while you are just Scientists and Engineers, now do it! — Our Wish is Your Command!”
“…80% of our energy today comes from fossil fuels, and well more than half of it comes from oil and natural gas. … Let’s have a grown-up discussion on energy policy. The U.S. is going to continue to use oil and gas for decades to come. Today, only a piddling 10.7% of our energy comes from wind and solar power. Approximately 2% of the cars on the road are electric vehicles. Even if that were to rise by tenfold over the next decade, we will still have 80% of cars using good old gasoline. If we don’t produce the oil and gas here, we are going to fill our tanks with oil and gas from the Middle East or Russia.” —Stephen Moore
Under Obama, coal mining and coal-powered plants were being forced to shut down without any replacement for all of that loss of power, with nothing readily available or as cheap, to keep people’s homes warm and lit. George Soros was reportedly buying up the closed-down coalmines for a song!
If you close all the coal mines, you also close down what is left of the Steel Industry; steel manufacturing needs coke, which is made from coal.
Natural gas and oil are also targeted.
You might think that: “Hundreds of thousands of lower-income people will freeze in the dark because they cannot afford heating fuel or electricity under this so-called agreement.” But that is not entirely true! There will not be sufficient amounts of fuel or electricity to go around, whether you can “Afford” it or not!
Kawika is right on the money. You simply cannot pull the plug on current technologies run by oil and other fossil fuels. You MUST have something to replace them. Those environmental idiots who scotched the Nuclear industry have cost us all very dearly. Nuclear is outstandingly safe and efficient, not to mention CLEAN!!!! No fossil fuel emissions. Thank the Good Lord who made us that there is now serious work going to start providing small-scale nuclear reactors similar to ship-sized power plants that we have had for nearly seventy years and which have operated WITHOUT ANY SERIOUS FAILURE OR CONTAMINATION!!!!.
Idiots like Tlaib and AOC have good ideas, but they are unrealistic in how soon such things can happen. Development of alternatives takes a long time. And unless you want to forego the use of electricity and move back to 16th century living, you need to take a reasoned and gradual approach to replacing fossil fuels with alternatives. I salute the idea of weaning off fossil fuels because for one thing, they are FINITE sources of fuel. Make no mistake; we will run out of oil in a few decades. Coal could replace it, but by that time we should have wind, solar, and nuclear to use in abundance.
We are in the stages of using wind and solar power more and more. My home state of Oklahoma is now nearly 25% wind power. I urge other states to follow suit.
Not to mention water. The West Coast especially needs to get on a crash program to install the proven technology of seawater desalination. There are nearly a dozen such plants in operation and this needs to increase by exponential amounts in the near term. The Colorado River, Lake Mead, and Lake Powell are all drying up because people are still silly enough to move to a desert area like Los Angeles and then expect the rest of the country to support them in their folly. Demands for Colorado River water have exceeded the flow for decades, but nobody will stand up and tell Los Angeles to get their own act together and find other water sources. It’s there and available with the proven seawater filters now in production. We need to accelerate mass production of the filters and the plants to use them.
Yes, indeed. Keep making the switch to renewables, but do it at the pace the engineers and scientists can handle.
Here’s a great idea since Democrats keep voting to end fossil fuels, take all of the registered Democrats off of the power grid for all electricity that is made from coal and they can get all of their electricity from solar and wind. That way we’d use half as much coal and everybody would be happy.
Or let’s take all Trumplicants off the grid that uses renewable energies. Since coal about 20%, renewables about 20%, it’s a Mexican Standoff meaning who let them in?