joe-biden” target=”_blank”>President Biden< Department, Saule Omarova, said in a recently resurfaced video that she supports the idea of energy” target=”_blank”>energy<
Omarova during her presentation was making the case for a U.S. National Investment Authority – a proposed federal agency that would work with the Treasury and the Fed to allocate public and private capital to green infrastructure companies, according to Data for Progress.
“The NIA will be able to negotiate equity stakes in private enterprises that receive that public aid, be it part of the systemic bailout or be it part of … individual restructuring help, for example, for certain troubled industries and firms that are transitioning,” she said.
The Wall Street critic added later after naming the coal, oil and gas industries that the prospective bankruptcy of traditional energy companies would create a loss of jobs and “a lot of displacement” that the United States “can’t afford.”
The National Capital Management Corp. “could actually become the kind of equity investor at that point, taking over management of those companies and basically leading them through restructuring to a new technological … business model,” she said.
BIDEN TREASURY NOMINEE OMAROVA WAS MEMBER OF MARXIST FACEBOOK GROUP AS RECENTLY AS 2019, POST INDICATES
AAF founder Tom Jones condemned Omarova’s comments in a statement to Fox News.
“Calling to bankrupt the fossil fuel industry that drives nearly our entire economy is dangerously misinformed,” Jones said. “Yet the Biden administration is nominating zealots like Saule Omarova to serve in our government as they attempt to destroy American energy jobs and stifle innovation.”
Workers remove a large clamp from a section of pipe during construction of the Gulf Coast Project pipeline in Prague, Oklahoma, on March 11, 2013. Daniel Acker/Bloomberg via Getty Images
CONCERNS MOUNT ON ENERGY PROVISIONS WITHIN DEMOCRAT SPENDING BILL
The Biden administration has put a strong emphasis on combating climate change since the president took office and immediately halted construction on the Keystone XL Pipeline. Through his $1.7 trillion Build Back Better Act, the president aims to reduce U.S. oil reliance and greenhouse gas emissions, which has some concerned that prices will continue to inflate for consumers.
Gas prices have hit a seven-year high after shortages in the post-pandemic market have left demand up and inflation spiking.
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The spending package would set aside $775 million for Environmental Protection Agency (EPA) grants, rebates, contracts and loans to help reduce emissions that stem from petroleum and natural gas systems.
Fox News’ Caitlin McFall contributed to this report.
