Manchin Hatchets Biden’s Radical Fed Nominee

West Virginia Democrat Sen. Joe Manchin announced on Monday that he will oppose one of President Joe Biden’s nominees to the Federal Reserve.

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“I have carefully reviewed Sarah Bloom Raskin’s qualifications and previous public statements. Her previous public statements have failed to satisfactorily address my concerns about the critical importance of financing an all-of-the-above energy policy to meet our nation’s critical energy needs,” Manchin said in a statement.

“I have come to the conclusion that I am unable to support her nomination to serve as a member of the Federal Reserve Board,” he added.

“Manchin’s formal opposition all but dooms Raskin’s bid to be the Fed’s next vice chair for supervision, one of the most powerful banking regulators in the world. While it’s possible Raskin could garner support from a moderate Republican, a Senate split 50-50 means anything but a unified Democratic party makes the odds of success for any presidential nominee perilous at best,” CNBC reported.

Democrats are displeased. They do not like his support of the oil and gas industry which she hopes to destroy.

SARAH BLOOM RASKIN WANTS TO WIPE OUT OIL & GAS

Raskin, the wife of far-left Rep. Jaime Raskin, wants to wipe out oil and gas, period. She has said she wants to “reimagine the economy” without fossil fuels. Only she wants to do it immediately without any backup energy system.

Sen. Patrick J. Toomey of Pennsylvania, the ranking Republican on the Senate Banking Committee, said during Thursday’s hearing that her proposals to mitigate “climate-related financial risk” would have “devastating consequences not just for energy workers, of which we have millions, but also consumers, who would have to pay much more for energy.”

“The real risk is unelected officials like Ms. Raskin who want to misuse banking regulatory powers to impose environmental policies that Congress has refused to enact,” Mr. Toomey said.

“Ms. Raskin has repeatedly and specifically advocated that the Fed allocate capital away from the fossil fuel industry as a way to combat climate change. She says the quiet part out loud,” he added.

Republicans zeroed in on her support for using financial regulations to steer capital from fossil fuel companies, which she has called a “dying industry,” and her 2020 op-ed urging the Federal Reserve to prevent oil-and-gas firms from accessing emergency pandemic lending under the CARES Act.

WATT’S UP FACTS

In a recent article at Watt’s Up With That, Paul Dreissen offered some great facts that show the ineptitude and recklessness of Raskin’s proposal.

We excerpted it here:

Wind and sunshine are certainly clean and renewable. However, harnessing this widely dispersed, weather-dependent energy to meet huge and growing US and global energy needs requires millions of wind turbines, billions of solar panels, billions of battery modules, and thousands of miles of new transmission lines that need enormous quantities of metals and minerals, which are absolutely not clean, renewable or sustainable.

Indeed, just Mr. Biden’s initial 30,000 megawatts of offshore wind energy would require 110,000 tons of copper – plus massive amounts of cobalt, lithium, nickel, aluminum, steel, rare earth elements, and other materials. Getting just the copper would require mining 25 million tons of ore. But federal bureaucrats and judges have already shut down three proposed U.S. copper mines. Again, that’s just the copper.

How many tons of metals, minerals, ores, and overburden will be required overall for wind turbines, solar panels, battery modules, transformers, and transmission lines in an all-electricity Green New Deal economy? How much fossil fuel energy to do all this work? Where will the mining, processing, and manufacturing take place? (Alaska, California, and Colorado? Or China, Russia, and Africa?)

Environmental Destruction and Slave Labor

How much environmental destruction, and child and slave labor, will be involved? What will these materials cost, as demand surges? How much land and wildlife will be impacted by the mining, factories, and industrial wind, solar, and battery installations as far as the eye can see?

Proponents of The Green New Deal has not a clue and they don’t care as the author writes. They will make us pay but they won’t.

Mr. Dreissen offers more evidence: For clues about the almost unfathomable impacts and costs, look here, here, here, here, and here.

If you want to see the US total reliable on Russia and China, this would do it.

The Destructive Ideology Is Everywhere

Democrats have control of media, academia and federal agencies. They have infested them with this corrupt ideology run by their cronies who will fund their campaigns.

Dreissen adds: The US Senate “Billionaires’ Club” report, Environmental Policy Alliance’s “From Russia with Love” analysis, articles by investigative journalists Ron Arnold and Lachlan Markay (here and here), and studies by the US National Intelligence Director and US House Science Committee provide extensive, disturbing details that Democrats in Congress and the Administration have ignored.

Beware of the benefactors of this corrupt ideology: Sea Change Foundation, Sierra Club, Climate Action Network, NRDC, and other groups.

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