Close this search box.

Green stimulus programs to be defunded to balance budgets – ‘EVs, Solar, Wind Sidelined as State Budgets Slashed’

The Epoch Times ^ | June 6, 2020 | ALAN MCDONNELL

Posted on 6/6/2020, 11:45:18 AM by E. Pluribus Unum

The future of many climate change and renewable energy projects across the United States is in serious doubt as states slash budgets due to the fallout from the CCP virus crisis.

With fiscal black holes looming and taxation and other income having been decimated, state governors look set to cut back where they can to ensure the provision of essential services. Rebates for EVs and funding for renewables such as wind and solar are at the top of the chopping list.<

A prime example is California. Gov. Gavin Newsom faces a $54 billion budget shortfall due to the CCP (Chinese Communist Party) virus, also known as the novel coronavirus. His recent budgetary amendments were singled out for criticism by the California Sierra Club for “cutting and shifting funds away from key environmental programs.”

Energy Investment Plummets Worldwide

According to the International Energy Agency’s (IEA) recent World Energy Investment 2020 report, the global economy is currently facing “the largest decline in global energy investment in history.”

“At the start of 2020, global energy investment was on track for its largest annual rise in six years,” according to the report. “But after the COVID-19 crisis brought large swathes of the world economy to a standstill in a matter of months, investment is now expected to plummet by 20 percent, or almost $400 billion, compared with last year.”

(Excerpt) Read more at …