Rep. Rashida Tlaib (D-Minn.), demanded Wednesday that America’s top banks stop funding fossil fuel companies.
Her wakeful request was met by Jamie Dimon, JPMorgan Chase & Co. CEO and chairman.
What’s the deal?
Tlaib requested bank chiefs to reaffirm their opposition to fossil fuels at a hearing of the House Financial Services Committee.
The CEOs of the seven largest U.S. banks represented JPMorgan Chase & Co. and U.S. Bancorp. PNC Financial Services. Citigroup. Bank of America. Trust Financial Corporation. Wells Fargo & Co.
She stated that all of you have made commitments, as we all know. These include shifting emissions from investment to lending activities and aligning pathways to net zero by 2050. “Is there any recommendation from the International Energy Agency to meet our global 2050 net-sterile targets? That is, no new fossil fuel production is permitted.
“Please answer the following question: Does your bank have an Anti-Oil and Gas Product Funding Policy?” Tlaib was questioned.
Dimon was the first executive she called to clarify that he wasn’t playing Tlaib’s far-left games.
He told Tlaib, “Absolutely not — that would mean America’s road to hell.”
Tlaib went on a personal level and suggested that Americans who have benefited from President Joe Biden’s controversial policies should cease doing business with Dimon’s Bank.
She grumbled, “Yeah, that’s fine,” “It is clear that you don’t have the resources to help students in severe debt.”
Tlaib specifically referred to Dimon’s criticisms about Biden’s plan for student loan forgiveness.
What have other CEOs to say about
The CEOs of Citigroup, Bank of America, and Wells Fargo said that they would continue to work with fossil fuel companies and also invest in clean energy.
Tlaib said that he didn’t care about common Americans, and then he returned to Dimon.
She stated that she didn’t care about working-class or front-line communities and that there are “incredible amounts of high asthma and respiratory problems in these communities, along with so many other health issues. The cancer rates in my community are so high.”
Rep. @RashidaTlaib challenges bank CEOs to agree to stop funding fossil fuels, is rejected by every single one
Jamie Dimon: “That would be the road to Hell for America” pic.twitter.com/U7yr6AbtyF
— Tom Elliott (@tomselliott) September 21, 2022
Tlaib’s question fallacy is evident.
Oil and gas companies are the only ones with the financial resources to invest in clean energy. They do so because they want to make a profit and reap the financial rewards of developing clean energy sources.