U.S. SENATE — U.S. Senator Steve Daines is calling out Treasury Secretary Janet Yellen for designating climate change as an emerging threat to financial stability, but ignoring the very real and present threat that the Biden administration’s war on made in Montana and made in America energy poses to the financial stability of Montanans and all Americans.
“I write to express concern with the Financial Stability Oversight Council’s recent designation of climate change as an emerging and increasing threat to U.S. financial stability while ignoring the present threats of increased instability and rampant cost surges due to rapid closures of reliable baseload power. It is unclear to me that this decision was made based on sound evidence, and appears more likely to be politically-motivated and virtue signaling. More concerning to me is that you have stated that your report on this topic is just the ‘first step,’” Daines writes.
“What the Biden administration is not telling the American people is that thanks to American innovation, not regulation, the United States leads the world in absolute reduction of emissions. In fact, the United States transitioned from a net importer to a net exporter of energy in large part due to the shale revolution, while simultaneously reducing our energy related carbon emissions reductions by 15% since 2007. Meanwhile, China’s emissions continue to rise,” Daines continued.
Read the full letter HERE.
At a September hearing with Yellen, Daines raised the importance of supporting Made in Montana and Made in America energy to avoid the kinds of energy shortages currently hitting Europe and ensuring Montanans have reliable access to affordable energy.
Contact: Katherine McKeogh, Katie Schoettler