U.S. energy experts are raising alarms over the potential consequences of President Biden’s newly announced pact with China to move towards shutting down fossil fuel production in favor of green energy. The agreement, which was announced by the State Department this week, has been criticized for its impact on the U.S. economy and national security, as well as China’s dominance in the global green energy market.
The pact, which was finalized during a meeting between Special Presidential Envoy for Climate John Kerry and Chinese Special Envoy for Climate Change Xie Zhenhua, marks a significant step towards reducing global greenhouse gas emissions, as the two nations account for nearly half of the world’s emissions. As part of the agreement, the U.S. and China have pledged to “deepen policy exchanges” and “accelerate the substitution for coal, oil, and gas generation” with green energy sources like wind and solar power.
However, experts have expressed concerns over the economic and national security implications of this deal. According to Daniel Turner, the founder and executive director of Power The Future, the agreement guarantees China a steady customer and decades of purchasing for its manufacturing sector. This will further strengthen China’s dominance in the green energy supply chain, as it currently produces the majority of key components like lithium-ion batteries, polysilicon, and solar panels.
Biden invokes WARTIME powers to attack gas-powered furnaces. Is this an act to show China that the Biden Administration is living up to its recent agreement with China? 👇
“The State Department announced this week it had struck a deal with its Chinese counterparts pledging to…— Donna CooperWatts (@dgcwatts) November 19, 2023
In addition, the deal also requires the two nations to advance five large-scale carbon capture, utilization, and storage projects by the end of the decade. While carbon capture technology can help reduce emissions, it is still expensive and has not been widely deployed in power plants. Critics also argue that this agreement could potentially push the U.S. towards Beijing-style central planning, production quotas, and groupthink.
The agreement has also been met with skepticism as China continues to expand its coal power capacity, quadrupling the amount permitted in 2021. According to the American Geosciences Institute, burning coal produces more carbon emissions than any other fossil fuel, which has a significant impact on global emissions. China, being the world’s biggest emitter of carbon, accounts for nearly 27% of the total global emissions.
Experts are also questioning the effectiveness of the deal, as China has a history of failing to comply with international agreements. Steve Milloy, a senior legal fellow at the Energy & Environment Legal Institute, calls the agreement “political sop” and believes that China is using it to further its own interests. He argues that China benefits from climate regulations and spending, as it helps its economy while compromising U.S. national security.
Experts raise alarm after Biden strikes agreement with China to shut down fossil fuelshttps://t.co/qTknKOR35k
— Donna FazioRepici (@DonnaRepici) December 3, 2023
Critics also argue that the U.S. should be focusing on increasing its own energy production instead of relying on China for green energy technology. Jason Isaac, the CEO and founder of The American Energy Institute, believes that the agreement favors China and puts the U.S. at a disadvantage. He argues that the U.S. should prioritize building new reliable energy sources instead of “bailing out” China.
The Biden administration has yet to respond to the concerns raised by energy experts and critics of the deal. However, it is clear that this agreement has sparked concerns over the potential impact on the U.S. economy and national security, and that China stands to benefit from this deal.
