If the government needs more land for wind and solar projects – as part of Joe Biden’s agenda to turn the nation’s energy industry green – it should just take it.
Originally published by WND News Service. Used with permission.
That’s the opinion of a banker, JPMorgan CEO Jamie Dimon.
NEW – Governments should seize private land for wind and solar farms, JPMorgan CEO sayshttps://t.co/ilv1W5YN9w
— Insider Paper (@TheInsiderPaper) April 5, 2023
It is WLTReport that noted Dimon “suggested that governments should seize private property to advance green energy projects, such as wind and solar farms.”
That would help get more “clean” projects off the ground, he said in his annual letter to shareholders, the report said.
In his words, “To expedite progress, governments, businesses and non-governmental organizations need to align across a series of practical policy changes that comprehensively address fundamental issues that are holding us back. Massive global investment in clean energy technologies must be done and must continue to grow year-over-year.
“At the same time, permitting reforms are desperately needed to allow investment to be done in any kind of timely way. We may even need to evoke eminent domain – we simply are not getting the adequate investments fast enough for grid, solar, wind and pipeline initiatives.”
He also wrote:
Policies like the Bipartisan Infrastructure Law, the Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act, and the Inflation Reduction Act (IRA) — that hold the potential to unlock over $1 trillion in clean technology development — need to be implemented effectively. The upside is undeniable: Widespread investing across the private sector will aid domestic manufacturing, invigorate research and development in green innovation, help create resilient supply chains, lift up local economies and build the U.S. clean energy workforce by up to 9 million jobs over the next decade.
While major advances have been made in the last few years on technology to help this cause, we are hopeful that the great American innovation machine (most advancements will ultimately come from the huge capabilities and capital of America’s largest companies) will find the additional technologies that are desperately needed. There is a downside – massive, inefficient and malinvestment of capital. I talk more about this in the last section on public policy.
Polarization, paralysis and basic lack of analysis cannot keep us from addressing one of the most complex challenges of our time. Diverse stakeholders need to come together, seeking the best answers through engagement around our common interest. Bolstering growth must go hand in hand with both securing an energy future and meeting science-based climate targets for future generations.
WND reported just this week on other comments from Dimon.
He warned that Joe Biden’s obsession with electric vehicle ideology could be dangerous, to America’s national security.
He also said, “China … and its economic muscle to dominate batteries, rare earths, semiconductors or EVs, could eventually imperil national security by disrupting our access to these products and materials. … We cannot cede these important resources and capabilities to another country.”