President-elect Joe Biden is planning to launch a massive attack on traditional forms of energy during his first 100 days in office, and Politico reports that he'll have an immediate $40 billion to kickstart his $2 trillion "clean energy" project.
Biden plans to use a combination of taxpayer money and government regulations to force Americans to adopt electric cars, shut down coal and natural gas plants, and mandate energy saving homes, businesses and appliances.
All these policies come with a cost, one that the American people will be paying. As the Heritage Foundation outlined in a report, Biden's plan will result in higher electricity bills, fewer jobs, and more corruption:
However, achieving a 100 percent emissions-free power sector in 15 years would require a combination of stringent, costly regulations on conventional fuels. Shuttering otherwise financially viable power plants, pipelines, and other infrastructure—not to mention keeping the actual resources in the ground—would result in potentially hundreds of billions of dollars in stranded assets. Such a dramatic shift away from affordable, reliable power sources would result in higher electric bills for households and businesses, resulting in higher costs for food, clothes, health care, and all the other goods and services consumers routinely buy.
Taxpayer-funded subsidies would also be necessary to achieve 100 percent emissions-free electricity in such a time frame. More government spending would result in more cronyism and corporate welfare as politicians steer investment choices to politically enticing projects. Some projects would likely fail, squandering taxpayer dollars. Many projects would inevitably succeed, too, but that merely suggests that government spending will have offset private money that would have been invested in the project (often by large companies with substantial market capitalization rates).
With the Democrats in control of the federal government, there's little the American people can in Washington do to stop this takeover of the energy industry. But there is something we can do in the states.
At the prompting of Convention of States volunteers, 15 states have already called for the first-ever Article V Convention of States. A Convention of States has the power to propose constitutional amendments that limit the power, scope, and jurisdiction of the federal government. These amendments can prohibit the federal government from inserting itself into the energy industry, and shrink the regulatory state that Biden plans to use to implement his agenda.
It takes 34 states to call a Convention of States, and 38 states to ratify any amendments that come out of the Convention. We've introduced the Convention of States Resolution in dozens of states, but we need your help to encourage our state legislators to pass it.
Sign the Convention of States Petition below to voice your support!
