October 1, 2022

Taylor Daily Press

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US oil and gas incentives are not anti-climate change

  • JPMorgan CEO Jamie Dimon spoke to wealthy clients on a call with Yahoo Finance on Tuesday. Named.
  • The call covered a variety of topics, including climate change and the prospect of a recession.
  • He said U.S. natural gas production would not conflict with reducing greenhouse gas emissions.

JP Morgan CEO Jamie Dimon said this week that natural gas production in the U.S. is not at odds with long-term emissions reduction goals. Yahoo Finance First mentioned.

“We have to pay attention to the climate. The problem with that is that oil and gas prices are going up and the world is pulling back on their coal-fired power plants. It’s dirty,” Dimon said in a conversation with a customer on Saturday.

“If you want to solve the climate problem, why not get it through our thick skulls?” [change]It is not anti-climatic [change] America to boost oil and gas?

JP Morgan Chase Named World’s Best “Fossil Fuel Financier” Report Published by environmental groups last year, it banked a total of $317 billion on the industry between 2016 and 2020.

There is a bank truth Achieve net zero emissions in all key sectors of its financial system by 2050, in line with the Paris Agreement. A JPMorgan spokeswoman did not immediately respond to Insider’s request for comment.

Natural gas produces half the carbon dioxide compared to burning coal and has been instrumental in reducing overall carbon dioxide emissions in the United States since 2007. Climate scientists describe Reuters reports that the oil and gas industry is growing at a pace inconsistent with the goal of limiting global warming. 1.5 degrees Celsius.

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Inside 2021 letter “National security requires energy security for us and our allies overseas,” Dimon told stakeholders, adding that “using gas to reduce coal use is an effective way to rapidly reduce carbon dioxide emissions.”

He said the U.S. needs “immediate approval of additional oil leases and gas pipelines and permits for green energy projects” to achieve energy security while meeting long-term climate goals.

In March, Dimon urged the Biden administration to create a modern “Marshall Plan.” To increase energy production in the United States to reduce dependence on foreign oil imports in the wake of the Russian invasion of Ukraine. According to Axios, he called for investment in green technology such as hydrogen energy and carbon sequestration.