Who would have guessed that President Joe Biden’s pledge of several billion dollars for “cleaner” energy would mostly benefit the manufacturers of the materials necessary for that transition?
One chief beneficiary is Communist China, the primary manufacturer of lithium batteries and provider of the essential raw materials of “green” technology such as solar panels.
As explained in an analysis by Griffith University of Queensland, Australia, published Feb. 4, following Biden’s signing of the “Inflation Reduction Act” in August 2022, which pledged $396 billion for green energy subsidies, China saw a massive increase in investments for mining minerals such as nickel, copper and iron.
The Daily Caller News Foundation noted these minerals are essential for the manufacture of lithium-ion batteries for electric vehicles.
Furthermore, China’s “Belt and Road Initiative” — an effort to expand the country’s exports around the globe — saw a 158 percent increase in these kinds of investments in 2023.
While China invested less than $10 billion in mining the year before the so-called Inflation Reduction Act, it invested $19 billion the following year, with $15 billion of those funds focused on mining nickel, copper and iron, the Griffith analysis found.
Critics have warned that China’s green investments in developing countries could create debt traps for these nations.
It also could use them to set up espionage operations, giving it more leverage on the international stage. In January, former CIA Director Leon Panetta warned China might use a Michigan battery facility to spy on Americans, the Daily Caller reported.
There is also evidence that China is setting up shop in U.S.-allied countries like Morrocco as well as partnering with U.S.-based companies to take advantage of the green subsidies in the Inflation Reduction Act, according to the DCNF.
Is China fighting to overtake the United States?
As we American citizens well know, the Inflation Reduction Act was an ironic misnomer.
The bloated government spending only increased prices and worsened inflation.
Now it appears China is finding loopholes to take advantage of subsidies intended to benefit American businesses.
Of course, knowing Biden’s cowardly and capitulating approach to diplomatic relations with the communist power, is it any wonder his signature legislation would benefit this nation’s greatest economic rival?
This is yet another example of how the climate agenda ends up benefiting everyone but the United States.
These efforts undercut America’s industry and economy while other nations, especially China, ably position themselves to benefit from our hobbling.
China is operating on a whole different level from us.
While the Biden administration and the Democratic Party are fixated on fighting climate change by eliminating fossil fuels, China is thinking of its short- medium and long-term goals.
If we continue down this path of prioritizing pie-in-the-sky green energy over our national prosperity and security, we’ll find ourselves unable to compete in a world run by China and our adversaries.
And that is indeed a chilling thought.
