Tue Apr 11, 2023 – 10:49 am EDT
(LifeSiteNews) — The CEO of JP Morgan Chase told shareholders in an annual letter that eminent domain may need to be invoked in order to ramp up solar and wind energy production.
“The window for action to avert the costliest impacts of global climate change is closing,” Jamie Dimon wrote in a letter recently published with the financial giant’s annual report for 2022.
“The need to provide energy affordably and reliably for today, as well as make the necessary investments to decarbonize for tomorrow, underscores the inextricable links between economic growth, energy security and climate change,” he wrote. “We need to do more, and we need to do so immediately.”
Doing “more” for Dimon includes evoking “eminent domain” to seize private land. Though eminent domain is supposed to be used only for bona fide government projects, such as necessary roads or sewers, it has been expanded to include initiatives that are of interest to policymakers, even if those are private business pursuits. A 2005 Supreme Court case, Kelo v. New London, opened up the use of eminent domain for projects by private real estate developers, for example.
Dimon
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