Ecclesiastes 5:8 If you see the extortion[a] of the poor, or the perversion[b] of justice and fairness in the government, [c] do not be astonished by the matter. For the high official is watched by a higher official, [d] and there are higher ones over them! [e]
- Biden’s Endless Gifts to China
- The Biden Administration intends to spend more than half a trillion dollars on “clean energy and climate action over the next decade”, according to the US Department of Energy. That amount would reportedly include projects for climate change and investments in renewable energy, such as solar panels and wind turbines.
- In solar energy… China produces between 70% and 98% of the world’s silicon-based raw material and other components for solar panels — a solid world monopoly.
- The Biden Administration has placed a massive bet on electric vehicles. The goal is that 50% of new vehicles sold in the US should be electric by 2030. Electric vehicles need lithium-ion batteries. China has almost a global monopoly on producing them.
- The average cost of raw materials, including lithium, nickel and cobalt, was more than $8,000 per electric vehicle in June 2022. That amount represented an increase of more than 140% since 2020, resulting in the cost of producing an electric vehicle being 125% more to that of an internal combustion vehicle. How many American consumers can afford such expensive cars?
- The Biden Administration has also set a goal to “achieve a carbon-pollution-free electricity sector by 2035.” All these measures clearly hobble the US and reduce its power to compete, while China, already the world’s largest user of fossil fuels, has announced that by 2030, its carbon dioxide emissions will peak… China last year built more new coal-fired power plants than the rest of the world combined — the equivalent of two new coal-fired plants per week.
- All these Biden policies seem almost custom-tailored to reduce America’s ability to compete internationally, while giving China even more room to grow its economy and gain an even greater edge over the US.
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