Some concerning news from Washington and the Department of Energy. The Biden administration recently gave a 200 million dollar grant to a company allegedly based out of Texas for the development of lithium-ion batteries. Supposedly this investment in an American company to develop battery technology and open a separator plant in Tennessee was another step in assuring America’s energy independence and transition to so-called green energy. The problem? The company is primarily Chinese. CCP for the win once again.
Since the Biden administration took charge in 2020, they have done everything possible to choke out America’s energy industry. The Democrats are beholden to the far left and the far-fetched vision of windmills and solar panels. The problem, of course, is how do we power things without gas, oil, or coal? The energy needs to be stored in batteries, but sadly most of the battery technology and precious materials are controlled by China. The Biden administration and the investment in the supposed Texas company seemed like a step forward until it wasn’t. Check this out.
President Joe Biden’s Department of Energy is touting a grant to a lithium battery company as a move that would help herald the shift to green energy and ensure the United States is cultivating domestic sources of energy. It did not say, however, that the Texas company receiving the grant operates primarily from China and is under scrutiny from American financial regulators.
While the DOE described Microvast as a “majority U.S.-owned company, traded on NASDAQ” and “headquartered in Stafford, Texas,” financial records show the company operates primarily out of China. Microvast itself says the Chinese government “exerts substantial influence over the manner in which we must conduct our business activities and may intervene, at any time and with no notice.” The company was also recently added to a Securities and Exchange Commission watchlist of Chinese companies that are on track to be delisted from NASDAQ for failing to comply with U.S. auditing requirements.
— Rob Mattox (@RobMattox2) December 6, 2022
Well, isn’t that just great! China for the win once again. Does Biden not have people to research such transactions? Or is he just the old person on the phone giving out his credit card numbers to scammers claiming to be the “Internal Revenue Services”? It’s literally embarrassing at this point and damaging. America can’t really afford 200 large to a shady Chinese company in disguise. Marco Rubio went on to blast Biden.
“Giving hundreds of millions of taxpayer dollars to a company whose operations are based in China that refuses to comply with American securities rules is crazy,” said Rubio. “What’s more, any new technology developed in this partnership is almost certainly going to benefit China given Microvast’s operations there. It is just another example of the Biden administration not understanding the threat posed by the Chinese Communist Party.”
At this point, we aren’t sure if Biden understands how to work the remote control to his smart tv, no less how to run the country. Clearly, he can’t trust the fine cross-dressing folks at the DOE to do their job so he doesn’t look like a bigger fool than he already does.
“The Biden appointees knew from the outset that because of China’s aggressiveness in infiltrating U.S. energy and high-tech companies they were going to need to be extra vigilant about where these [infrastructure] funds went,” one former DOE official told the Free Beacon. “A simple Google search shows enough of a relationship between China and the shell company they’re using to access U.S. taxpayer funds to raise questions.”
So, we have the Chinese sneakily getting their hands in American taxpayer’s pockets once again, courtesy of old Joe Biden, while inflation soars and our energy sector suffers. All for the promise of windmills, solar farms, and electric cars. My goodness, 2024 can’t get here soon enough.
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