So much for the moderate in the race. In order to appease the far left base of the Democrat party, Joe Biden has selected the most economically destructive policy proposal to embrace.
I am always suspicious of announcements that include the words “revolution” and “justice”. Especially when both are going to be led by our bloated, inefficient and ineffectual federal government. So my eyes rolled exceptionally hard at the title of Biden’s rollout video:
Joe’s Plan for a Clean Energy Revolution and Environmental Justice
And because I care very much about my readers, I actually watched it so you don’t have to. The introduction included “drastic action” to avoid a “climate disaster”. Of course, there were also the obligatory pictures of natural disasters, storms, and melting glaciers. The funniest part is that Biden referenced the same 12-year deadline that Alexandria Ocasio-Cortez said only a sponge would believe. I’ll leave you to draw your own conclusions.
The primary differences between Biden’s plan and the one Cortez and others have put out are that he includes the use of nuclear power and his deadline for net zero carbon emissions is 2050. Both of these are being criticized by groups like the Sunrise Movement.
Like the original Green New Deal talking points, Biden promises millions of new jobs, investments in R&D. Biden Claims to have led a $90 billion clean energy initiative under the Obama administration. It appears this was actually part of the Recovery and Reinvestment Act. You know, all those shovel ready jobs under the so-called “Stimulus”.
Here’s what $90 billion bought us as of 2012 according to the DOE:
Renewable Energy The renewable energy industry that was being battered by tight credit markets is bouncing back and growing again. Because of the Recovery Act’s $90 billion investment in clean energy, the Administration is on track to meet its target of doubling U.S. renewable energy generation by 2012. By partnering with private industry, the Department of Treasury and the Department of Energy have already funded over 20,000 projects nationwide through tax cuts or cash assistance for clean energy manufacturing and production. These projects have enough capacity to power more than one million homes; that is enough clean energy to power the homes of everyone living in Boston, Seattle, Atlanta, Kansas City, and Cincinnati combined. Factories are whirring to life to manufacture the parts these projects require.
This is the last update on the program that is available through the DOE site. And it provides no data on the return on the investment in 20,000 projects cited. Pardon my skepticism, but this doesn’t exactly bode well. Biden’s proposed investment is $1.7 trillion over 10 years. For the “climate revolution” he is selling, it doesn’t seem like nearly enough when $90 billion could only power a million homes if the parts for the projects even got made.
There are perfectly legitimate reasons for the limits on renewable power sources like solar and wind. Some of them are physics, mineral extraction, land clearing and disposal of batteries as these experts explain:
Another serious problem is the raw materials. Batteries require rare minerals. According to the Clear Energy Alliance, 90% of these minerals are located in China. The same China that steals our intellectual property and has any number of unfair trade practices. But Uncle Joe thinks he’s going to diplomatically leverage China to go along with the U.S. on climate action. It seems a lot more likely that he would be getting economically leveraged. And given that China now has some bizarre system of social credits that includes spying to control its citizens, it hardly seems like a country the U.S. would want to be dependant on for its energy production.
Biden also wants to reenter the Paris Climate accords. That non-binding agreement that punished the U.S. and Europe while giving a pass to the world’s biggest polluters, China and India. So essentially in an agreement where they are obligated to do nothing, the rest of the world is handing them a huge economic advantage. That seems really stupid.
Biden got one thing right in his proposal. The fastest and safest way to reduce our reliance on carbon fuel sources is through the use of nuclear power. But the rest of the plan that focuses on high-speed rail, electric vehicles, massive government investments, and increasing government regulations and reporting requirements on corporations is taking us in precisely the wrong direction.
Especially since his plan to pay for it is to raise the corporate tax rate, once again making America less competitive for investment than other nations. As of today, it seems all of the Democrat candidates for the Presidency are bent on implementing policies that lead to catastrophic economic upheaval.
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