Trump Campaign Press Release - Kill Jobs, Spend Money, Repeat – The Biden "Energy" Plan?

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Biden's latest move to the far-left will decimate American energy, costs taxpayers trillions, and destroy jobs.

Key Takeaways:

• Today, Joe Biden is making good on his pledge that he's willing to sacrifice "hundreds of thousands" of blue-collar energy jobs in pursuit of his far-left anti-energy agenda
• Biden is proposing eliminating oil, gas, and coal from the U.S. power grid by 2035
  • Biden says he would spend a staggering $2 trillion in four years on this and other pet causes, but he's actually hiding the real costs to upend the U.S. energy system
  • Prior estimates show eliminating oil, gas, and coal from the U.S. energy grid would cost trillions
  • A Wood Mackenzie study found it would cost $4.5 trillion to enact such a plan, with a $35,000 per household cost
  • The non-partisan American Action Forum estimated it would cost $5.7 trillion

Biden Is Now Pledging To Eliminate Oil, Gas, And Coal By 2035

Biden's Latest Energy Plan Calls For 100 Percent "Clean Energy" By 2035, Claiming He Will Spend A Staggering $2 Trillion Over Four Years To Make This Happen. "Joe Biden on Tuesday will call for setting a 100% clean-electricity standard by 2035 and investing $2 trillion over four years on clean energy, three people familiar with his plan said Monday." (Jennifer Epstein, Ari Natter, and Jennifer A Dlouhy, "Biden To Call For $2 Trillion In Spending On Clean Energy," Bloomberg, 7/13/20)

• In Doing So, Biden Is Embracing The Far-Left Climate Positions Of Elizabeth Warren, Jay Inslee, And Bernie Sanders. "Biden's new proposals bring him closer to the positions of his more progressive former primary opponents, including Massachusetts Senator Elizabeth Warren and Washington Governor Jay Inslee, whose campaign focused on climate change. Inslee had proposed a 100% clean electricity standard by 2035 that Warren later endorsed. A task force of allies of Biden and Senator Bernie Sanders offered a similar idea last week, recommending that Democrats commit to eliminate carbon pollution from power plants by 2035." (Jennifer Epstein, Ari Natter, and Jennifer A Dlouhy, "Biden To Call For $2 Trillion In Spending On Clean Energy," Bloomberg, 7/13/20)

BIDEN IS DRASTICALLY UNDERREPORTING THE COSTS OF SUCH A PLAN

A Move To Eliminate Carbon Emissions In Biden's Time Frame Would Cost An Estimated $4.5 Trillion

A Wood Mackenzie Study Found That 100 Percent De-Carbonization Of The U.S. Power Grid Would Cost $4.5 Trillion. "We estimate the cost of full decarbonisation of the US power grid at US$4.5 trillion, given the current state of technology." (Dan Shreve, "Deep Decarbonisation: the Multi-Trillion-Dollar Question," Wood Mackenzie, 6/27/19)

• This Would Cost The Average American Household $35,000, Or Roughly $2,300 Per Year Over 15 Years. "We estimate the cost of full decarbonisation of the US power grid at US$4.5 trillion, given the current state of technology. That's nearly as much as what the country has spent, since 2001, on the war on terror. From a budgetary perspective, the cost is staggering at US$35,000 per household – nearly US$2,000 per year if assuming a 20-year plan." (Dan Shreve, "Deep Decarbonisation: the Multi-Trillion-Dollar Question," Wood Mackenzie, 6/27/19)

An Analysis From The Non-Partisan American Action Forum Found That A Move To 100 Percent Renewable Energy Production Would Cost $5.7 Trillion. "A 'Green New Deal' that includes a proposal to move 100 percent of U.S. electricity production to renewable sources would require at least $5.7 trillion of investment in renewable energy and storage." (Philip Rossetti, "What It Costs To Go 100 Percent Renewable," American Action Forum, 1/25/19)

(Philip Rossetti, "What It Costs To Go 100 Percent Renewable," American Action Forum, 1/25/19)

Risky Business Found That It Would Cost An Astounding $320 Billion Annually To Make Similar Changes By 2050. "This estimated annual cost figure is roughly in line with other estimates. For example, a Risky Business study, which estimated the costs of transitioning to a clean energy economy, concluded that an average annual investment of $320 billion would be required through 2050, and the model for this estimate assumed more resources than just renewables available." (Philip Rossetti, "What It Costs To Go 100 Percent Renewable," American Action Forum, 1/25/19)

• Risky Business Is A Project Backed By Billionaire Biden Endorsers Michael Bloomberg And Tom Steyer. ("About Us," Risky Business, Accessed 7/14/20)
• The Risky Business Estimate Only Projected Costs For 80 Percent Reduction In Carbon Emissions. ("Risky Business Reports," Risky Business, Accessed 7/14/20)

A National Bureau Of Economic Research Study Found That The Net Cost Of Reducing Greenhouse Gas Emissions By Just 80 Percent Would Cost Up To $4 Trillion, With Up To $6 Trillion In Required Investment. "A National Bureau of Economic Research study estimated the net cost of reducing total greenhouse gas emissions by 80 percent would be $1.3 – 4.0 trillion (with $3.3 – 6.0 trillion of required investment)." (Philip Rossetti, "What It Costs To Go 100 Percent Renewable," American Action Forum, 1/25/19)

Biden's Plan Makes Good On His Promise To "Sacrifice" "Hundreds Of Thousands Of Blue-Collar Jobs"

In December 2019, Biden Said "Yes" When Asked If He Would Be Willing To "Sacrifice" Economic Growth And "Hundreds Of Thousands Of Blue-Collar Jobs" To Transition To A "Greener Economy." TIM ALBERTA: "Vice President Biden, I'd like to ask you. Three consecutive American presidents have enjoyed stints of explosive economic growth due to a boom in oil and natural gas production. As president, would you be willing to sacrifice some of that growth, even knowing potentially that it could displace thousands, maybe hundreds of thousands of blue-collar workers in the interest of transitioning to that greener economy?" JOE BIDEN: "The answer is yes. The answer is yes, because the opportunity -- the opportunity for those workers to transition to high-paying jobs, as Tom said, is real. We're the only country in the world that's ever taken great, great crises and turned them into enormous opportunities." (Joe Biden, Remarks At A Democratic Presidential Primary Debate, Los Angeles, CA, 12/20/19)

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