On Wednesday, bank CEOs gathered in front of Congress to discuss the struggling US economy. One of the banking executives in attendance, JP Morgan Chase CEO Jamie Dimond, bashed Rep. Rashida Tlaib after she asked if his bank will stop financing oil and gas production.
Michigan “Squad” member Tlaib joined the meeting virtually and asked each banking executive whether or not they have a “policy against funding new oil and gas products” as part of a pledge to work towards net zero emissions by 2050.
“I would like to ask all of you and go down the list, ’cause again, you all have agreed to doing this,” said Tlaib. “Please answer with a simple ‘yes’ or ‘no’: Does your bank have a policy against funding new oil and gas products?”
Dimond was the first CEO called on, and he very boldly answered, “Absolutely not, that would be the road to Hell for America.”
Very offended, Tlaib did not keep any semblance of professional composure. She dramatically held her hand to her chest, saying, “Sir, you know what? Everybody that got relief from student loans [that] has a bank account with your bank should probably take out their account and close their account.”
Democrat Rep. @RashidaTlaib to bank CEOs: Will you promise me right now not to fund anymore future oil and gas projects?
JP Morgan CEO Jamie Dimon: "Absolutely not and that would be the road to Hell for America." pic.twitter.com/zmq610M8R4
— Young Americans for Liberty (@YALiberty) September 21, 2022
In JP Morgan Chase’s most recent report on carbon emissions, the company said, “To be part of a low-carbon future, the Oil & Gas sector will need to transform and innovate, which will require substantial capital and strategic support. This is a key reason why JPMorgan Chase’s Carbon Compass includes the sector.”
“Significant amounts of capital and strategic advice will be needed to support companies in their low-carbon transition efforts, including to help decarbonize their operations and products and develop new technologies and solutions to address the critical challenges climate change presents.”