The left’s clean energy push, including more than $110 billion dollars in projects since the passing of the deceptively-named Inflation Reduction Act, is sending money to one of our biggest enemies on the world stage: China.
What may not be immediately clear to the Democrats who enthusiastically push our nation towards clean energy is the fact that it simultaneously makes us more reliant on China for batteries. The U.S. doesn’t build batteries or renewable energy equipment —but China does.
From The Wall Street Journal: “These overseas manufacturers will be able to claim billions of dollars in tax credits, making them among the biggest winners from the climate law. The credits are often tied to production volume, rewarding the largest investors.”
“It’s a testament to the fact that we still live in a globalized economy,” said Aniket Shah, head of environmental, social and corporate governance—or ESG—strategy at investment bank Jefferies. “You can’t just out of nowhere put up borders and say, ‘It has to be made in America by American companies.’ ”
The Biden Administration is hobbling America —forcing us to depend on our enemies.
“Full domestic supply chains for batteries or solar panels are still years away because foreign companies dominate nearly every step in the process, from raw materials to sophisticated parts,” WSJ adds.
And they’re correct. China dominates the battery and clean energy game —sometimes, on our own turf.
As previously reported on The Drill Down, Lithium Americas, the foreign company planning to mine lithium in Nevada —isn’t American at all. The company’s largest shareholder is a Chinese enterprise led by known CCP members called “Ganfeng.”
At least one former Trump Administration member is sounding the alarm: Mike Pompeo.
“The United States government has a responsibility to look through this façade, this corporate entity that is fronting the Chinese Communist Party, and prevent them from moving forward,” Pompeo told the Washington Free Beacon.
Biden won’t be confronting Lithium Americas any time soon —especially as he’s willingly and enthusiastically putting money in China’s pocket with green energy deal after green energy deal.
“What we’re seeing is foreign policy conflict with climate policy and trade policy,” Shah said. “We’re going to have to decide as a country what matters more: our enmity with China or our desire to decarbonize quickly.”
Biden —or those in Biden’s ear, rather —want to decarbonize quickly and they don’t care how rich and powerful it makes our enemies.