Free-Market Forces Support Transition To Alternative Energy
Climate change was a hot topic during the last presidential debate. Trump spewed hot air about clean air and clean water, despite his policies to gut protections for dwindling natural resources. Meanwhile, Biden made one of the boldest political statements in presidential history with his plan to transition America away from fossil fuels by 2050.
After four years in office, Trump has dismantled major climate policies and rolled back numerous rules governing clean air, water, wildlife and toxic chemicals. As most nations are divesting from fossil fuels and investing in alternative energy and more efficient infrastructures, Trump has talked about the virtues of clean coal and pipelines to the past that threaten our vital air and water supplies. Such policies are leading our children to slaughter.
Trump promotes the virtues of capitalism and innovation, but he is stifling both by continuing to subsidize the oil industry with more than $20 billion every year. The oil industry was a massive beneficiary of the multi-trillion dollar coronavirus relief package in April 2020. We don’t know the extent of the bailout, because Trump removed all transparency regarding the use of those funds. Prior to that infusion, most oil companies were already on life support in the wake of the coronavirus shutdowns. In other words, free-market capitalism is nowhere in sight when it comes to the oil industry. The good old boy system is keeping fraud, favoritism and fascism alive and well in this destructive industry (which has been covering up the science of climate change for decades). Suffice it to say that the free market is already leading the transition away from fossil fuels, but we have to create a level playing field by eliminating the multi-billion-dollar handout from government every year. Biden is right. Our government must stop subsidizing inefficiency, pollution, death and climate change. Too big to fail has no place in a free-market world. It’s a greedy way of saying “too big to compete.”
If we eliminate these subsidies, the oil industry will survive.
There will always be a need for some of these petroleum products–even after 2050. Meanwhile, the shift to alternative energy is on track now. Companies such as Tesla, Nio, Nikola and even General Motors are banking on electric vehicles in the face of soaring consumer demand. The supply of fossil fuels is dwindling, while the demand for fossil fuels is changing. It’s time for government to get out of the way. It’s a matter of national security and its a return to free-market capitalism.
As Biden sees it, climate change poses an existential threat to our environment, our health, our communities, our national security, and our economic well-being. It also damages our communities with storms that wreak havoc on our towns and cities and our homes and schools. It puts our national security at risk by leading to regional instability that will require U.S military-supported relief activities and could make areas more vulnerable to terrorist activities. It will continue to spur wildfires, droughts, floods and evacuations. It’s an obvious threat to our food and water supplies.
Biden is promoting a Clean Energy Revolution to address the climate emergency.
Biden believes the Green New Deal is a crucial framework for meeting the climate challenges. Biden knows that our environment and our economy are completely and totally connected. He knows that human health is dependent on clean and safe air, water and food supplies.
Read the full story about Biden versus Trump as it relates to climate change and energy policy.