Here’s another way Biden is helping China win…
According to a report from The Washington Free Beacon, President Biden’s Department of Energy is funneling millions of dollars to a Beijing-backed green energy company Sinopec Capital via carbon capture company LanzaTech, federal spending disclosures reveal.
“[LanzaTech] announced a partnership with Sinopec Capital—the clean energy investment arm of the Sinopec Group, a Chinese state-owned oil conglomerate also known as the China Petrochemical Corporation—to ‘debut an international market of new energy and new materials,’” the Free Beacon reports.
“LanzaTech represents the world-leading carbon recycling company. It is the strategic move for Sinopec Capital, through investment in LanzaTech, to invest in the biochemical value chain and debut in the international market of new energy and new materials.” said Huang Wensheng, Chairman of Sinopec Capital. “Capital investment plays an integral part in catalyzing the application and marketing of biotechnology while serving as an important way towards carbon capture, conversion and recycling. We at Sinopec Capital are committed to contribute to the transformation and upgrading of Sinopec Group, address climate change and deliver the target of carbon peaking and carbon neutrality.”
In other words, China is incredibly happy to have a tighter grip on the planet’s energy supply and grabbing some Uncle Sam’s dollars is icing on the cake.
LanzaTech understands the partnership could cause complications —but they went ahead and did it anyway.
From The Free Beacon:
LanzaTech wrote in a November filing, [it] could bring “complications” and “restrictions” should the United States or other nations implement “sanctions on certain Chinese individuals.” That filing also notes “that the Chinese government may intervene or influence our operations at any time” and that LanzaTech may be unable to “protect our interests” in Chinese joint ventures “by nominating a non-Chinese director to the board of directors of any such joint venture.”
Sounds like they know the risks —and the power they are handing to China —and they’ve gone ahead anyway. Arkansas Senator Tom Cotton says this is a perfect example of how the Democrats’ “green energy agenda is stamped with the words ‘made in China.'”
“Instead of handing millions of taxpayer dollars to a Chinese-backed company, the president should be encouraging American energy production and American energy independence,” Cotton told the Free Beacon.
