US wants to follow Germany toward green 'economic suicide': Charles Payne
Charles Payne sounds off on the global left's war on fossil fuels on 'Life, Liberty & Levin.'
Major business sectors are all-in on the Left's global warming agenda because corporate America will do anything for money, FOX Business host Charles Payne said.
Payne, host of "Making Money," said while many consumers are feeling the inflation pinch and watching the government essentially force the transition toward "green" technology, corporate America is actually benefiting hand-over-fist.
"No one likes free money more than corporate America. They're the biggest welfare queens out there," Payne said on "Life, Liberty & Levin" when asked about the amount of federal subsidies available to companies that toe the leftist political line.
He pointed to the automotive industry, which previously received bailouts, and which he said has been run terribly for decades.
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An oil pumpjack operates in the drive-thru area of a McDonalds in Bradford, Pennsylvania (Reuters)
Payne said it is no surprise companies like Ford and GM are moving forward with electric vehicles as the feds push for emissions standards and transitioning away from internal combustion engines.
"Imagine if your industry is as large as the automobile industry with tens of millions of cars on the road, and there's a way of legally replacing them all overnight and selling people new ones in the form of E.V.," he said. "I mean, just think of the opportunity, particularly for companies that have been so poorly run — for the Fords of the world, for the General Motors of the world."
"Of course, they… show a little public resistance, but they sign on the bottom line. It is a huge amount of money — all of this stuff in the name of climate change."
Payne added he has also seen evidence the insurance industry might be using the guise of purported climate change to raise revenues, claiming the phenomenon is to blame for increased tropical cyclones and the like.
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Oil rig (REUTERS/Angus Mordant)
"I saw a headline in The Washington Post, ‘Climate change sends insurance rates up’ — huh?" he said, adding meteorologic cycles have existed "forever" and that now somehow every major low pressure system is supposedly the fault of climate change.
"And that means it must be addressed through government spending," he added. "But on the other end of that government spending, there's someone making a lot of money."
Payne said that while companies are often upset with having to deal with increasing regulation, they suffer such to "fatten up their bottom line" in other ways with the explicit or implicit help of the feds.
"But it comes at the expense of prosperity for the average American. It has hollowed out the hopes and dreams of our future generations. It's very expensive, hence the debt ceiling battle that will never go away."
Payne concluded the U.S. must only look to Germany, long considered the most powerful economy in Europe, to see what happens to a fiscally-stable society when green politics infects the status quo.
"They're being surpassed right now by China as the largest automobile exporter, and they're shutting down all the nuclear plants," he said.
"So they have no fossil fuels, no nuclear plants. They think a bunch of windmills are going to power an industrial economy? They're nuts," he said. "They have committed economic suicide. We're watching it and we can't wait to join them."
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