Overall, the legislation would authorize $565 billion in spending over ten years as the U.S. pursues deep decarbonization efforts. It includes a host of new provisions in areas like environmental justice, energy transition, waste reduction and transportation.
The bill would create a national green bank, seeded with $100 billion, to leverage public money for investments in new technologies needed to hit emissions reductions goals. The legislation also includes a requirement that 40 percent of funds go toward environmental justice communities that have suffered persistent pollution — a priority for the Biden administration.
This will be the most expensive and the most dubious social experiment in history. It’s not just government outlays that figure in the cost of this boondoggle. It’s private money that’s lost as a result of “decarbonization.” Investments that would ordinarily be made won’t be. Projects will be shelved or put on hold.
It’s the economic activity, including job creation, business creation and expansion, and innovation that will be stifled.
The Democratic bill also would direct the Securities and Exchange Commission to require disclosure from public companies about their climate-related risks. And it seeks to aid communities affected by the transition to cleaner energy through a host of new programs, including one providing federal grants to communities suffering significant losses of revenue as fossil fuel production drops.
“We’re not leaving anyone behind here, we’re offering the vision for America’s future,” [Environment Chair Paul] Tonko [D-N.Y.] said. “Every person listening: You, your family and your community have an important role to play.”
Turning the number one energy-producing nation in the world into a third-world country is going to take hard work. You have to want to destroy the economy — and want it bad. And don’t forget about “environmental justice.”
The new environmental justice provisions would notably establish a grant program to finance lead drinking water service line replacements. That effort would prioritize disadvantaged communities and include requirements for U.S.-made raw materials and strong labor protections.
Federal workers will be forced to go through “environmental justice” seminars and other training to make sure everyone in government is properly brainwashed.
Suffice it to say, big changes are coming. Of course, it’s for our own good. After all, who can argue against “environmental justice”? Or saving the planet by stopping carbon “polluters” before we’re all deep-fried? The way the whole argument has been framed has been a brilliant PR effort, one for the books.
We’re not destroying the economy! We’re saving the planet!