The White House halted the exports to appease opponents of gas and oil consumption, according to Dimon, who issued his critiques in a letter to shareholders.
by RAY LEWIS | The National Desk Jamie Dimon , Chairman and CEO, JPMorgan Chase & Co., speaks during a Senate Banking, Housing, and Urban Affairs Committee oversight hearing to examine Wall Street firms on Capitol Hill, Wednesday, Dec. 6, 2023 in Washington. and President Joe Biden delivers remarks on the Emergency National Security Supplemental Appropriations Act in the State Dining Room of the White House, Tuesday, Feb. 6, 2024, in Washington.
The strength of our domestic production of energy gives us a ‘power advantage’ – cheaper and more reliable energy, which creates economic and geopolitical advantages,” Dimon explained. “Nations around the world – wealthy and very climate-conscious nations like France, Germany and the Netherlands, as well as lower-income nations like Indonesia, the Philippines and Vietnam that could not afford the higher cost – started to turn back to their coal plants,” Dimon said. “This highlights the importance of safe, secure and affordable energy.”
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