Biden Treasury nominee Saule Omarova seeks to ‘bankrupt’ coal, oil & gas companies: ‘We want them to go bankrupt if we want to tackle climate change’


By: - Climate DepotNovember 11, 2021 3:08 PM with 0 comments

https://www.foxnews.com/politics/treasury-saule-omarova-energy-industries-bankrupt

By Audrey Conklin | Fox News

President Biden‘s nominee to lead a branch of the Treasury Department, Saule Omarova, said in a recently resurfaced video that she supports the idea of energy industries going “bankrupt” to combat climate change.

The Cornell University law professor, who has been nominated to lead the Office of the Comptroller of the Currency, first made the remarks during a February “Social Wealth Seminar” event hosted by the Jain Family Institute, a nonprofit research organization. The nonprofit group American Accountability Foundation (AAF) recently dug up the clip from her discussion at the event and posted it to social media.

Naming the coal, oil and gas industries, specifically, Omarova said “a lot” of the “small players” in those industries “are going to probably go bankrupt in short order,” adding: “At least we want them to go bankrupt if we want to tackle climate change, right?”

OMAROVA COULD BE NEXT BIDEN NOMINEE TO GO DOWN WITH BANKING COMMITTEE DEMS RELUCTANT TO SUPPORT HER

Omarova during her presentation was making the case for a U.S. National Investment Authority – a proposed federal agency that would work with the Treasury and the Fed to allocate public and private capital to green infrastructure companies, according to Data for Progress.

“The NIA will be able to negotiate equity stakes in private enterprises that receive that public aid, be it part of the systemic bailout or be it part of … individual restructuring help, for example, for certain troubled industries and firms that are transitioning,” she said.

The Wall Street critic added later after naming the coal, oil and gas industries that the prospective bankruptcy of traditional energy companies would create a loss of jobs and “a lot of displacement” that the United States “can’t afford.”

The National Capital Management Corp. “could actually become the kind of equity investor at that point, taking over management of those companies and basically leading them through restructuring to a new technological … business model,” she said.

BIDEN TREASURY NOMINEE OMAROVA WAS MEMBER OF MARXIST FACEBOOK GROUP AS RECENTLY AS 2019, POST INDICATES

AAF founder Tom Jones condemned Omarova’s comments in a statement to Fox News.

“Calling to bankrupt the fossil fuel industry that drives nearly our entire economy is dangerously misinformed,” Jones said. “Yet the Biden administration is nominating zealots like Saule Omarova to serve in our government as they attempt to destroy American energy jobs and stifle innovation.”

CONCERNS MOUNT ON ENERGY PROVISIONS WITHIN DEMOCRAT SPENDING BILL

The Biden administration has put a strong emphasis on combating climate change since the president took office and immediately halted construction on the Keystone XL Pipeline. Through his $1.7 trillion Build Back Better Act, the president aims to reduce U.S. oil reliance and greenhouse gas emissions, which has some concerned that prices will continue to inflate for consumers.

Gas prices have hit a seven-year high after shortages in the post-pandemic market have left demand up and inflation spiking.

CLICK HERE TO GET THE FOX NEWS APP

The spending package would set aside $775 million for Environmental Protection Agency (EPA) grants, rebates, contracts and loans to help reduce emissions that stem from petroleum and natural gas systems.

Fox News’ Caitlin McFall contributed to this report.

#

Biden’s Banking Nominee Would Pursue Soviet Economics: By Carrie Sheffield – The left’s latest magician: Saule Omarova, President Biden’s nominee to head the Office of the Comptroller of the Currency. OCC is an important agency — it has power to regulate all national banks and federal savings associations. OCC’s wrong moves negatively affect millions of Americans, making banking and other services more expensive and inaccessible, particularly for vulnerable, unbanked Americans.

Capitalism vs. Communism, and Biden’s Banking Nominee

Proposal by Biden’s Treasury nominee Saule Omarova: “There will be no more private bank deposit accounts and all of the deposit accounts will be held directly at the fed”