Biden nominee would have Americans freezing in the dark

 Washington Examiner:

Oil and gas industry groups are coming out strongly against a top Biden Federal Reserve nominee who has called for the financial sector to pull investment away from fossil fuels.

Forty-one trade associations told Senate Banking Committee leadership on Friday that policies favored by Sarah Bloom Raskin, who is up for vice chairwoman for supervision at the Fed, would "wreak havoc" on the U.S. economy if enacted.

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"Oil and natural gas provide the feedstock for thousands of products used every day, from anything with a computer chip to the COVID vaccines that have saved millions of lives across the globe," the groups wrote Chairman Sherrod Brown and ranking member Pat Toomey. The trade groups include the Independent Petroleum Association of America, the Western Energy Alliance, and the Appalachia-based Marcellus Shale Coalition.

The groups also maintain Raskin's position on fossil fuel investment is "at odds with the President’s goal of providing Americans with reliable, affordable energy" and that her mentality is "ill-suited for sober, balanced regulation."

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She maintains the Federal Reserve should play an active role in how the U.S. responds to climate change, saying that "it’s the Fed’s job to be mitigating the impact of exogenous shock.”

It's a view that's already been acted on by the Biden administration. The Financial Stability Oversight Council, which comprises top officials at the government's various financial agencies, including the Fed and the Securities and Exchange Commission, issued a report in October concluding climate change poses an "emerging and increasing" risk to financial stability.

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"Climate change" is one of the more overrated items in the liberal mind.  The proponents of it have been serial wrong in predicting doom and gloom for 50 years or more.  The poles are not ice-free as they predicted they would be by now and coastal cities are still not underwater.  The temperature during most days can change by as much as 30 to 40 degrees or more and we can easily survive peak temperatures of a couple of degrees higher during any day.  

This weekend we will see freezing temperatures and heavy snow in New Egland and freezing temperatures as far south as Florida.  This woman should save her energy for digging out of the snowfall instead of trying to prevent people's access to oil and gas to heat their homes and drive their cars.

Depriving people of energy is far more dangerous.