FACT CHECK: CEO at Notorious Fossil Fuel Ally JP Morgan Calls U.S. Energy “Backwards,” Derides Transition to Clean Energy

WASHINGTON, D.C. – This morning, Jamie Dimon, CEO at one of the biggest fossil fuel lenders in the world, JP Morgan, called U.S. energy policy “wrong,” “backwards,” and “a matter of war” while promoting drilling and increased oil production over clean energy. Dimon based his attacks on the administration on the false claim that the US has not increased domestic energy production in response to the international energy crisis caused by Russia’s invasion of Ukraine. This disinformation is being peddled by the fossil fuel industry and not based in reality. Dimon should know better.

False Claim: The United States isn’t producing enough energy in response to Russian supplies being cut off.

FACT: U.S. crude and natural gas production has been growing under Biden.

With the historic investments in the Inflation Reduction Act, the United States is creating jobs, building a more reliable grid, and ensuring a secure future in a nation powered by clean energy. Dimon gets one thing right: “America needs to play a real leadership role.” Already, states across the nation are manufacturing the U.S. into a cleaner, safer, and more secure future with clean energy.