Jamie Dimon, CEO of Wall Street investment behemoth JP Morgan, is calling on governments to use the power of eminent domain to seize private property for wind and solar farms, as a means to reach the goal of net-zero emissions.
In his most recent annual letter to shareholders, Dimon addressed what he sees as the threat posed by climate change, revealing the extent he is willing to go to have his agenda carried out. Noting the time it takes to obtain permits for renewable energy projects, Dimon said, “Permitting reforms are desperately needed to allow investment to be done in any kind of timely way.”
Going far beyond what even the Biden administration has been willing to do – so far, Dimon stated, “We may even need to invoke eminent domain – we are simply not getting the added investments fast enough for grid, solar, wind, and pipeline investments.”
“The need to provide energy affordability and reliability for today, as well as for the needed investments to decarbonize for tomorrow, underscores the inextricable lengths between.
Open Season on Landowners
Enlisting such a powerful legal tool in the service of an industry sector favored by the ruling class has, to date, been “a bridge too far” even for the powerful climate cartel. No more. Dimon has now declared open season on rural landowners. There is nothing to keep governments (federal, state, or local) – egged on by green groups — from seizing on the idea and targeting rural landowners who will be forced to disgorge their property in the name of combatting climate change.
Dimon claims he wants energy that is “affordable and reliable.” But wind and soar power are “affordable” only because they are heavily subsidized by taxpayers. And neither wind nor solar is the least bit reliable, because they are completely dependent on weather and thus operate with breathtaking inefficiency. Without the government subsidies and renewable-energy mandates in many states, there would be no solar arrays or wind farms anywhere in the U.S..
Under Dimon’s scheme, land that would otherwise be producing food will instead be hosting wind turbines and solar panels. The JP Morgan CEO may have noticed, as his colleagues at Goldman Sachs have already acknowledged, that wind and solar power have failed to fill the gap from the shuttered coal-fired power plants – soon to be followed by shuttered natural-gas plants. Rather than admit the errors of his ways, Dimon wants to blanket the country with eyesores, and trample on property owners in the process.
- Bonner Cohen, Ph. D.
- Bonner R. Cohen, Ph. D., is a senior policy analyst with CFACT, where he focuses on natural resources, energy, property rights, and geopolitical developments.
- Articles by Dr. Cohen have appeared in The Wall Street Journal, Forbes, Investor’s Busines Daily, The New York Post, The Washington Examiner, The Washington Times, The Hill, The Epoch Times, The Philadelphia Inquirer, The Atlanta Journal-Constitution, The Miami Herald, and dozens of other newspapers around the country.
- He has been interviewed on Fox News, Fox Business Network, CNN, NBC News, NPR, BBC, BBC Worldwide Television, N24 (German-language news network), and scores of radio stations in the U.S. and Canada.
- He has testified before the U.S. Senate Energy and Natural Resources Committee, the U.S. Senate Environment and Public Works Committee, the U.S. House Judiciary Committee, and the U.S. House Natural Resources Committee. Dr. Cohen has addressed conferences in the United States, United Kingdom, Germany, and Bangladesh.
- He has a B.A. from the University of Georgia and a Ph. D. – summa cum laude – from the University of Munich.
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