Western Energy Alliance President Kathleen Sgamma explains how the Inflation Reduction Act will affect American energy production on Cavuto: Coast to Coast.
Jamie Dimon, CEO of JPMorgan, stressed in a recent client meeting that increasing natural gas production in the United States does not conflict with the goal of reducing greenhouse gas emissions.
“We should focus on the climate. The problem is that because of high oil and gas prices, the world is turning to its coal-fired power plants. It’s dirtier,” Yahoo Finance reported last week of Dimon’s call.
In an unusual rebuke for JPMorgan Chase & Co CEO Jamie Dimon, shareholders on Tuesday clearly disapproved the $52.6 million stock option bonus that directors gave him last year by at least five more years to stay in office. (Portal/Jeenah Moon/File Photo / Portal Photos)
“Why can’t we get it through our thick skulls if you want to solve the climate [change]it’s not against the climate [change] for America to boost more oil and gas?” Dimon reportedly said.
JPMorgan is committed to achieving net-zero emissions by 2050 under the Paris Agreement. The bank said its engagement ensures it measures its clients’ issuance in key sectors of its funding portfolio.
ENERGY EXPERT WARNS WHAT SHE CALLS THE “INFLATION EXPANSION ACT” WILL LEAD US INTO A GERMANY-LIKE CRISIS
In a letter to shareholders last year, Dimon said “national security demands energy security for us and our overseas allies,” adding that “using gas to reduce coal consumption is a viable way to reduce carbon emissions.” to reduce emissions quickly”.
The issue of domestic power generation has gained urgency this year amid skyrocketing gas prices and Russia’s ongoing invasion of Ukraine, which has sapped Europe’s energy needs.
Dimon has called for a “Marshall Plan” to ensure energy security for the United States and its European allies. He said European nations heavily dependent on Russian energy need help from the US
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“For such a plan to succeed, we must immediately secure adequate energy supplies for the next few years, which can be done while reducing carbon emissions,” Dimon said.