Liberal billionaire commits $500 million to destroying America's coal industry
Michael Bloomberg
[Editor's note: This story originally was published by Real Clear Wire.]
By Tucker Davis
Real Clear Wire
In the recent track “Rich Men North of Richmond” by Oliver Anthony, the musician takes aim at East Coast elites and their extreme pursuits for wealth and influence:
“These rich men north of Richmond, Lord knows they all just wanna have total control. They wanna know what you think, wanna know what you do. And they don't think you know, but I know that you do.”
Enter Michael Bloomberg, former New York mayor, and one-time 2016 Democratic presidential nominee. Recently, Bloomberg announced a $500 million initiative aimed at closing all remaining U.S. coal-fired power plants.
Why would someone commit such resources against an industry that has provided affordable and reliable energy for decades? The likely culprits: greed, ego, and political influence.
Bloomberg's contributions aren't solely for environmental causes. While pinning down his full portfolio is challenging, he's invested in natural gas, renewable energy, and media outlets such as Bloomberg Green, which promote a green-focused narrative. It seems Bloomberg might view environmentalism not just as a cause but also as a business venture.
His environmental stance also serves political ends. Bloomberg was an early backer of the Sierra Club's "Beyond Carbon" initiative and is the current UN Special Envoy on Climate Ambition and Solutions. His 2020 attempt to secure the Democratic presidential nomination, though short-lived, further highlights his political ambitions.
Bloomberg has been outspoken about ending coal power. However, experts warn of the potential instability this could bring to the national energy grid, especially during critical times like summer heatwaves and winter cold spells.
Switching from coal to alternatives like wind and solar, experts argue, would necessitate a significant expansion of the current grid system. Especially with the surge in electric vehicles, some project the U.S. grid may need to double in capacity, potentially costing up to $2 trillion by 2050.
Despite these concerns, Bloomberg remains resolute. He stated, "Today marks a new chapter in the Beyond Carbon campaign... this next phase will shut down every last U.S. coal plant."
Many experts caution against this move, emphasizing potential grid failures, energy shortages, and economic repercussions.
Such figures as Bloomberg, critics argue, not only push for an end to coal but also advocate for broader changes that could impact everyday life — from backyard grills to home heating options.
Indeed, individuals such as Bloomberg seemingly “wanna have total control.” It's overdue for us to stand against their attempts to erode our freedoms and harm our country's economic foundation to satisfy their inflated egos.
Tucker Davis is President of the Kentucky Coal Association.
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