The Biden Administration's Devastating New Policy Is a Direct Attack on America's Energy Security
This article was sponsored by SolarBank Corporation.
In a move supposedly guided by the enlightened, progressive principles of so-called clean energy, the Biden administration has moved to put the full weight of the federal government behind an acceleration of domestic production of technologies including solar panels, building insulation and heat pumps.
This hidden attack on America’s energy security, ironically authorized under the auspices of the Defense Production Act, has the potential to have a cataclysmic impact on domestic energy production, which is still predominantly powered by fossil fuels.
By prioritizing the production of solar panels, heat pumps and other “clean energy” technologies, the administration’s stated aim is to reduce the nation’s dependence on oil and gas for energy needs.
Additionally, the focus on “clean energy” is likely to be accompanied by stricter regulations on oil and gas production.
This could include ever-more-stringent environmental standards, tightening restrictions on new drilling permits and soaring costs for compliance with new regulations.
Such measures could make oil and gas production in the U.S. more challenging, more expensive and less globally competitive.
Additionally, the emphasis on clean energy technologies might drive investment away from traditional oil and gas projects, strangling the recently surging domestic oil and gas industry.
On top of the billions allocated to the “clean energy” sector by federal actions such as the ironically named Inflation Reduction Act, the Biden administration said in a “fact sheet” that “the private sector has committed over $100 billion in new private capital to make electric vehicles and batteries in the United States.”
As the government and private sector allocate more capital toward renewable energy infrastructure, oil and gas companies may find it harder to attract investment for new exploration and production projects.
This shift in capital could result in a slowdown of new oil and gas developments, putting oil and gas investments at risk — and our domestic energy security in a precarious state.
Industries that are poised to profit significantly from the federal government’s thumb on the scales include high-efficiency appliance manufacturing and alternate energy sources such as hydrogen, wind and solar … but especially solar.
Under President Joe Biden’s Defense Production Act proclamation, the domestic solar manufacturing capacity is projected to triple to 22.5 gigawatts by the end of his term in January 2025.
The administration predicts the increase in domestic solar manufacturing will create numerous jobs in the manufacturing, installation and maintenance of solar panels and contribute significantly toward overall economic growth.
Additionally, by using the “big stick” of federal procurement and master supply agreements, the administration claims consumers could see lower energy costs and manufacturers and solar power providers could see explosive economic growth.
The heavy hand of the Biden administration is not only making the U.S. less competitive internationally in the oil and gas market, it’s also making oil investment less attractive to many investors.
Investors who are looking to not only survive the Biden regime’s attack on oil and gas but potentially thrive would do well to consider investing in companies primed to profit from the hundreds of billions of dollars pouring into the solar energy industry.
In fact, one of the best ways to play this trend is a little-known company called SolarBank — one of the few truly vertically integrated solar power companies listed on NASDAQ. The company has a 10-year, profitable history, Fortune 500 clients and an aggressive expansion strategy with the potential to dramatically expand its already impressive revenues.
To start your due diligence on SolarBank, click here to unpack three critical catalysts that could send demand for stocks such as SolarBank skyrocketing in the months and years to come.
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