Congress needs to end Biden’s ESG green energy blind spot

Americans for Limited Government President Rick Manning issued the following statement urging Congress to end Environmental, Social and Governance (ESG) regulations and pension subsidies that divert investment from carbon and nuclear-based energies in favor of green energies that have made Europe dependent on Russian oil and natural gas

“When even Elon Musk, the greatest beneficiary of Environmental, Social and Governance investment to date, says it’s time to drill more oil and gas, and to go nuclear, it shouldn’t be difficult for American policy makers to agree.

Unfortunately, the Biden administration, working with major investment firms like Blackrock and Vanguard, have deliberately put their thumb on the scale in favor of non-carbon, green energy, rather than providing the capital needed turn on the oil and gas spigots everywhere when the West needs it the most to offset Russia’s energy stranglehold on key NATO allies including Germany.

“Germany has already made an initial shift in their policy, expediting the opening of two new liquified natural gas terminals and increasing military spending, but in the U.S. the Biden administration refuses to shed their green ESG handcuffs by ending financial services policies that restrict investment oil, natural gas, coal and nuclear energy investment.

“We learned everything we needed to learn about the Biden administration when Transportation Secretary Pete Buttigieg quipped when he called the war and Russian energy extortion a ‘short term problem’ that didn’t require a ‘permanent solution’ by increasing American energy production. President Joe Biden is demanding $10 billion for Ukraine emergency relief. Congress should insist on policies that foster American energy development to offset Russia on global energy markets, so that our nation doesn’t find itself tomorrow in the same position that Germany finds itself into today.”