JPMorgan CEO Jamie Dimon pitches for “Marshall Plan” to save US economy. Read details

n a recent client call, Jamie Dimon, the JPMorgan CEO, stressed that the increase in natural gas production in the United States was not in opposition to the goal of diminishing greenhouse gas emissions.

The report by Yahoo Finance of Dimon’s client call mentions him saying that “The problem with that(climate) is high oil and gas prices.” And because of these high prices, countries around the world are
“turning back on their coal plants,” which he says “is dirtier.”

Dimon reportedly also stressed why America can’t understand (
“get it through our thick skulls”) that in order to solve the problem of climate change “it is not against the climate for America to boost more oil and gas?”

In accordance with the Paris Agreement, JPMorgan has pledged to achieve net-zero greenhouse gas emissions by 2050. According to this commitment by the bank, it’s metered the emissions of its clients who belong to the critical sectors of the bank’s financing portfolio.

Last year, in a letter to the shareholders, Dimon said that the national security of America requires
“energy security for ourselves and our allies overseas,” also adding that an actionable way to reduce CO2 emissions expeditiously is by “using gas to diminish coal consumption.”

Amid the skyrocketing gas prices this year, domestic energy production has become an urgent issue. Moreover, the ongoing Russian invasion of Ukraine has thrashed the energy needs of Europe.

To safeguard the energy security of the United States and its European allies, Dominion has called for a
“Marshall Plan”. He also said that European nations dependent on Russian energy supplies need help from the US.

For these plans to be successful, Dimon added, “We need to secure proper energy supplies immediately for the next few years,” which can be achieved while reducing CO2 emissions.

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