Skip to content

CEO Of JP Morgan Jeers At Climate Energy Policies, Shares Thoughts On ‘Woke Capitalism’

JP Morgan Chase CEO Jamie Dimon has stated that he wants an increase in oil and gas production as part of a program to work toward having energy independence for the United States.

Isn’t that a brilliant idea? To not rely on other countries for our oil and other energy sources? Wow. It must have taken Dimon years to reach this conclusion, consulting the sharpest, brightest, most highly educated people on the planet.

Basically, this is common sense.

Unfortunately, common sense is not so common these days.

Here’s some more information on what he had to say, via The Daily Wire:

"*" indicates required fields

Do you believe gun control is unconstitutional?*
This poll gives you free access to our premium politics newsletter. Unsubscribe at any time.
This field is for validation purposes and should be left unchanged.

Dimon, one of the most experienced and influential chief executives on Wall Street, quipped about the economy and other global issues during a wide-ranging call with investors, as originally reported by Yahoo! Finance. In addition to forecasting that inflation will not “dissipate that quickly” and pinning dismal consumer confidence on “partisan politics and a lot of leftover anger from COVID-19,” he appeared to push for a brand of “woke capitalism” that prioritizes economic opportunity.

“You can ignore the bad part of society. Not hire from them. Not drive through the parts of town. I think it is a mistake because our society is worse off if we don’t lift up everybody,” Dimon commented. “It is far more than woke capitalism.”

Dimon recently insisted that he is not “woke” but nevertheless defended “stakeholder capitalism” — the notion that companies have a mandate to involve themselves in social issues while maximizing profits for shareholders. Yet he argued last week that “it is a good thing to lift up our fellow citizens” through economic opportunity, since jobs “bring dignity,” lead to “household formation,” and “reduce crime.” Referring to high rates of youth unemployment in parts of Europe, Dimon added that such situations ensure those nations are “going to have a social problem.”

When discussing the topic of climate change, Dimon said that the current high price of energy is actually pushing many countries around the world to rely on coal, which is something that could be easily avoided with higher gas and oil production in the United States.

“We should focus on climate. The problem with that is because of high oil and gas prices, the world is turning back on their coal plants,” he commented. “It is dirtier. Why can’t we get it through our thick skulls, that if you want to solve climate, it is not against climate for America to boost more oil and gas?”

Back when President Joe Biden took office, the national average for a gallon of gasoline was $2.38, according to information gleaned from the Energy Information Administration. It then went up to $3.53 a gallon when the whole mess between Ukraine and Russia kicked off. Things really got nutty around June when the price soared over $5 a gallon before finally dropping a little to $3.95 per gallon as of Tuesday, according to AAA.

What really hurt us as far as oil and gas production, which played a significant role in the uptick of energy costs, is when Biden, during his first day in office, decided to shut down the expansion of the Keystone XL Pipeline.

On top of that, officials in the Biden administration have made the claim that these higher energy costs are going to help accelerate the adoption of renewable energy in the United States.

“In a letter to shareholders written earlier this year, Dimon responded to the Russian invasion by calling for a new ‘Marshall Plan’ — a callback to the World War II policies that rebuilt Europe — centered upon a diverse portfolio of American energy,” the Daily Wire reported.

“While the United States is fairly energy independent, we need to increase our energy production and get more gas (in the form of liquefied natural gas) to Europe immediately,” he stated. “Our work with all of our allies should include urging them to both increase their production and deliver some of it to Europe. To do this, we also need immediate approval for additional oil leases and gas pipelines, as well as permits for green energy projects … we cannot accomplish our goals with misguided and counterproductive policies.”

Don’t be fooled. None of this “climate change” nonsense is about actually saving the environment. It’s about wealth redistribution and having more control over the means of production through regulations created in the name of climate activism.