Now, the Biden Administration intends to spend more than half a trillion dollars on "Clean energy and climate action over the next decade", according to the US Department of Energy.
The problem is: these policies are all gifts to China.
It will take an extremely long time before the US can produce anything that remotely matches China's current monopoly, which is why the Biden administration's policy will benefit China for years to come.
Not enough is being invested in the manufacturing of solar panels in the US. The lapse has caused the energy research firm Wood Mackenzie to question whether the US market will be able to meet the Biden administration's lofty environmental goals.
The Biden Administration has placed a massive bet on electric vehicles.
The Biden Administration has also set a goal to "Achieve a carbon-pollution-free electricity sector by 2035." All these measures clearly hobble the US and reduce its power to compete, while China, already the world's largest user of fossil fuels, has announced that by 2030, its carbon dioxide emissions will peak.
All these Biden policies seem almost custom-tailored to reduce America's ability to compete internationally, while giving China even more room to grow its economy and gain an even greater edge over the US. It should also be recalled that, according to John Kerry, the Biden Administration's "Climate envoy," whatever the US does unilaterally, without similar action by China and other major economies, is utterly pointless.
https://www.gatestoneinstitute.org/19751/biden-gifts-to-china
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