Yes energy is too expensive.
Yes private companies aim to maximize their profits over any other goal (which is stupid, because with mankind being killed by climate change this is the “end” also for their profits)
Yes it’s very very bad if private companies profit from the suffering of other people such as Putin’s war on Ukraine have killed Ukraine and Russian family members and increased energy prices, which hit the poorest the most. (Yes there are at least 21.7% in massive poverty in Europe as well!)
So what to do Mr Biden?
Simple: Make a law that forces BigOil to invest AT LEAST 10% of their pre tax income into renewables + energy storage (tax deductible investments).
Plus: Give incentives to empower citizens:
- $15,000 for every new eCar sold (at least)
- $5,000 for every heat new pump installed (at least)
- $10,000 for every roof covered with solar panels (at least)
- $5,000 for every battery that stores solar power (at least)
Result: a massively fast transition AWAY from fossil fuels, that have all the well-known side effects (kill the climate, pollute the air =kill mankind)
Plus: BigOil will OWN a lot of renewable infrastructure, that still be worth a lot in 10, 20, 30 years time.
Plus: lower energy prices
Plus: A renewable, more sustainable future for everyone, including BigOil, including the Americans.
Let’s do it.
If BigOil does not want too, threaten with 50% Windfall tax.