Kudlow: Green New Deal utopians will make US dependent on China
Kudlow: Building completely new infrastructure will generate enormous carbon emissions
‘Kudlow’ reacts to Biden’s push for zero-emission vehicles
The Biden administration is now rolling toward their goal of a Green New Deal.
The infrastructure deal has about $140 billion worth of subsidies and government investment funds—subsidies for electric cars, electric charging stations, a transformation of our utility grid, handouts to certain companies, slush fund for the Energy Department and under the general grandiose goal of net-zero emissions by some date certain yet to be determined.
U.S. carmakers are boasting that electric vehicles will be half of their sales by 2030, even though right now they're only 3%. Mind you this whole exercise is a textbook case of massive central planning that is unprecedented in this country.
Instead of free markets and free choice, we're getting guidelines that will turn into mandates that will completely disrupt our entire transportation, energy and power systems in this country.
It is a breathtaking endeavor that is doomed to fail.
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A.) because consumers don't want the high prices and high costs. B.) because the U.S. does not even remotely have the resources to support this net-zero emissions crusade and C.) because people are already waking up to the enormous national security and military risks endemic to this poorly thought-out utopian plan.
There is an enormous amount to be said and discussed on this topic. We've already begun in prior shows and will continue to express our opposition to the Green New Deal this evening and in the future, but here's a few brief points:
First, raising CAFE fuel standards as Mr. Biden announced today will significantly increase the cost of cars and trucks and significantly reduce automobile safety. These two reasons were the basis of the Trump administration's opposition to punitive CAFE fuel standards.
Second, the Green New Deal utopians have no idea of the cost and difficulties of creating an entirely new infrastructure— nor do they understand that building a new infrastructure will generate enormous carbon emissions by itself—and nor do they understand that the minerals and materials that go into electric power batteries, new electricity grids and so forth are simply not available to the US.
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At the present time, the Biden administration is reducing access to minerals, oil and gas resources. Leases are being canceled at ANWR. The Keystone Pipeline was canceled.
Far-Left ideologues are in charge of the energy, EPA and interior departments.
In order to generate battery-driven autos and anything else, we need minerals like nickel, cobalt, lithium and copper. Guess who has them? China.
95% of rare earth's mining and processing is done in China. They have a monopoly.
45% of the world's supply of polysilicon, necessary to build solar panels, is done in China. In terms of these resources, China and the Belgian Congo are the biggest players. Both employ slave labor, child labor and both lack human rights and freedoms.
These Green New Deal utopians don't realize that they will make the U.S. dependent on China and its ally Belgian Congo. This is not something we want to do. This becomes a national security and military security issue.
The recent bans by the Bidens on mining for all resources have decreased access to federal lands and they seek to impose penalties on oil, gas and coal producers.
In short, the Biden administration has no planning for the massive investments necessary in critical minerals and a brand-new infrastructure. Their hopes for a vast emission reduction will decimate this country's consumers, businesses, factories, jobs and the economy.
Middle and lower-income people will suffer enormously from higher costs and lack of availability of power. You can't have growth without power.
Under the Trump administration power was made cheap, accessible and plentiful as the economy boomed. With the Bidens, it is exactly the reverse.
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This utopian crusade is the most poorly planned effort probably in our history. Ironically, it is the central planners and Washington regulators that will run this operation, but the planners are engaged in single entry book-keeping.
On the one side, they want net-zero emissions but on the other side, they have made no planning or organizing for the kind of massive investments that will be necessary.
What this country should be doing is developing a policy that would generate larger and more diverse energy sources. We must protect U.S. energy supplies. We must increase the capacity to produce rare earths and minerals.
At the same time, we must foster an all-of-the-above energy strategy that includes renewable power sources developed by our vibrant and technologically advanced private companies—not government subsidies and industrial policies which are always doomed to failure.
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In other words, it is neither desirable nor even possible to achieve a Green New Deal with net-zero emissions.
Let me repeat: not desirable or even possible.
It is not in the interest of this country. It is not America first. It is America dependent on our rivals and enemies. It is America losing its moral base by relying on countries using slave labor without an ounce of democracy and freedom—and indeed countries that are our enemies.
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Let me repeat: The national security risk, military security risk and economic risk are so huge that they threaten our future.
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