Key Points
- Gas and oil prices are approaching a 7-year high.
- Biden bank nominee Saule Omarova says we want oil and gas companies to go bankrupt.
- In her opinion, this would be better to combat climate change and climate equity.
Oil and gas prices are currently surging – at a 7-year high. Most Americans are feeling the pain at the pump. Even 11 Senate Democrats have written a letter to President Biden urging him to take action as gas approaches $3.50 a gallon.
So the timing of this quote resurfacing from Currency Comptroller nominee Saule Omarova – it’s pretty bad. Like, comically bad.
“Here what I’m thinking about is primarily coal industry and oil and gas industry. A lot of the smaller players in that industry are going to probably go bankrupt in short order, at least we want them to go bankrupt if we want to tackle climate change,” Omarova says in the resurfaced clip, unearthed by the American Accountability Foundation (AAF).
Omarova later admitted that the economic fallout would be substantial, the job losses significant and that the U.S. cannot afford it.
“But that creates a lot of this sort of loss of jobs, a lot of displacement, and economic fallback that we cannot afford, really, so [the National Capital Management Corporation] could actually become a kind of equity investor at that point, taking over management of those companies and basically leading them through restructuring to a new technological basis and to a new technological business model, and in that sense, it’s the same type of activity but a different context,” she added.
There it is: “climate” and “equity” being discussed in the same breath. That’s quickly becoming one of the Democratic Party’s greatest hits.
Prominent Republicans responded to the ridiculous claim that we want oil and gas companies to go bankrupt if we want to tackle climate change.
“This unhinged socialist wants millions of Americans who work in the energy industry to go bankrupt. And Joe Biden picked her as his top banking nominee,” said Sen. Tom Cotton (R-AK).
“I don’t need to fly to Glasgow to recognize crazy,” said Rep. Chip Roy (R-TX).
“Biden nominee eager to drive small operators out of business, and kick the workers they employ to the curb. If we don’t stop them, Americans will pay dearly for their rigid ideology,” added Steven Law, CEO Senate Leadership Fund.
Not a great start for the Currency Comptroller nominee. And this doesn’t even touch on her thesis on Marxism that she wrote as a student at Moscow State University.
Oh boy.
