U.S. Treasury Secretary Janet Yellen said that in the future, the United States would soon rely on “the wind, sun, and other clean sources of energy” – not oil and gas.
Yellen cited the Democrats’ Inflation Reduction Act in her remarks during her visit trip to Detroit, Michigan.
“Our plan — powered by the Inflation Reduction Act — represents the largest investment in fighting climate change in our country’s history,” Yellen told the crowd.
“It will put us well on our way toward a future where we depend on the wind, sun, and other clean sources of energy.”
“We will rid ourselves from our current dependence on fossil fuels and the whims of autocrats like [Russian President Vladimir] Putin,” Yellen added.
The Heritage Foundation tweeted in response to Yellen’s remarks: “We need to be taking advantage of our abundant energy resources and ensuring American energy freedom, NOT pushing radical pipe dreams while Americans suffer,” the Heritage Foundation tweeted in response to Yellen’s remarks.
Janet Yellen also claimed that the United States “experienced one of the quickest economic recoveries in modern history” under President Joe Biden.
As the Biden administration continues their push for the end to the oil and gas industry, officials in states like California are begging residents to reduce electricity use due to fear of blackouts.
As The Daily Fetched reported last week, officials resorted to begging residents to use less electricity as rolling blackouts loom:
As the state faces a seventh consecutive “Flex Alert,” where residents will be asked to conserve electricity between 4:00 p.m. and 9:00 p.m., officials say the move will be ineffective unless it’s doubled or tripled.
Meanwhile, an “Energy Emergency Alert” at level was declared by the California Independent System Operator (ISO) on Monday, one level below the stage at which blackouts would be required.
Four natural gas plants were brought online to help with demand, as wind and solar power fail to meet the state’s needs.
Meanwhile, Biden’s Energy Secretary Jennifer Granholm praised the Inflation Reduction Act for helping “create huge incentives for wind and solar and geothermal” energy.
Granholm said the Biden administration has been demanding the oil industry increase production, while Democrats’ policies prevent them from doing so.
Meanwhile, Biden has directly attacked private financing for the oil industry.
As Reuters reported last year:
The U.S. Treasury Department issued energy financing guidance to multilateral development bank, saying the United States would oppose their involvement in fossil fuel projects except for some downstream natural gas facilities in poor countries.
The new guidance from the Treasury, the largest shareholder in major development banks, including the World Bank Group and the African Development Bank, prioritizes financing for renewable energy options and “to only consider fossil fuels if less carbon-intensive options (are) unfeasible.
In August, Biden changed global bank financing rules making it even more difficult for drillers to find investors.
“The policy is intended to accelerate renewable energy investment rather than fossil fuel investment, thereby greatly defunding oil production,” Breitbart noted.