ICMYI – NYT: “Eliminating Mr. Biden’s Climate Policies Would End Up Helping China, Economists Say”

WASHINGTON, D.C. – Just this week, Climate Power announced that Biden’s clean energy boom had passed the milestone of more than 300,000 jobs announced, with Executive Director Lori Lodes saying, “Donald Trump is promising to kill more than 300,000 American clean energy jobs as part of his billion-dollar ‘deal’ with oil executives, and he needs to answer for it… Trump is siding with the Chinese government to overturn Biden’s clean energy law, and if he gets his way, he will forfeit the economic future to them once and for all.”

Just a day after sixteen Nobel Prize-winning economists wrote a letter warning that another Trump Presidency would increase inflation, and “will have economic repercussions for years, and possibly decades,” The New York Times reports that more than a dozen economists, energy experts, and business leaders say that Trump’s vow to roll back President Biden’s historic investments in clean energy would gut America’s ability to compete with China. 

More than a Dozen Economists, Energy Experts, and Business Leaders: “Last month, Mr. Trump told a crowd in Wisconsin that he would ‘terminate’ what he referred to as ‘all new spending grants and giveaways under the Joe Biden mammoth socialist bills like the so-called Inflation Reduction Act.’ […] But more than a dozen economists, energy experts and business leaders said weakening or repealing the Inflation Reduction Act could eviscerate American competitiveness in the rapidly growing global race to dominate clean energy.” 

Stuart P.M. Mackintosh: “Stuart P.M. Mackintosh, an economist and author of the book ‘Climate Crisis Economics.’ ‘From a manufacturing perspective, you’re just ensuring the Chinese edge in these technologies continues to get wider.’” 

Mark M. Zandi, Chief Economist at Moody’s and former economic advisor to Senator John McCain: “‘It would be a blow to manufacturing,’ said Mark M. Zandi, the chief economist at Moody’s Analytics. ‘China would certainly benefit.’”Elaine Buckberg, Chief Economist for General Motors: “Elaine Buckberg, the former chief economist for General Motors, said that even if Republicans target only the consumer rebate for electric vehicles — leaving untouched the manufacturing credit that companies receive — it would ‘absolutely’ still hurt American competitiveness. ‘Right now there’s a real preference for putting your plant in the U.S. and meeting the criteria so your vehicles can be $7,500 less expensive,’ said Ms. Buckberg, currently a senior fellow at Harvard University’s Salata Institute for Climate and Sustainability.”

Read the rest of the story on the devastating impact that Trump’s oil-funded war on clean energy would have for the American economy.