(TheLibertyRevolution.com)- The Biden administration’s push for a green economy is benefiting some of the most prominent billionaires on the left, according to an analysis from the Washington Free Beacon.
In the last two months, the Energy Department announced loans amounting to nearly $3 billion to two manufacturers of batteries, Redwood Materials and Ioneer, both of which were backed by investments from Bill Gates, Laurene Powell Jobs, and similar billionaires who donate heavily to Democrat politicians.
According to the Free Beacon, after Ioneer received a $700 million loan from the Energy Department, its stock price skyrocketed by 33 percent.
Additionally, the groups receiving green energy grants are funded by the same people who paid millions to dark money groups that worked to get Biden elected in 2020.
Redwood Materials raised $700 million in 2021 from a group of investors, including Bill Gates and Laurene Powell Jobs while Texas billionaire John Arnold is a major shareholder for Ioneer. These billionaires donated big to liberal dark money groups working to get Democrats elected.
According to Daniel Turner, the executive director of the energy advocacy organization Power the Future, the billionaire investors behind both Redwood Materials and Ioneer are proof that neither company should be receiving taxpayer-funded loans.
Turner told the Free Beacon that it is “remarkable” people with cumulative wealth “in the hundreds of billions of dollars” should expect American taxpayers to share in the “financial risk of their ventures,” adding that if the companies are such “sound investments,” the investors should “use their own cash.”
Last week, the Free Beacon reported that in 2022, the Department of the Interior approved a plan from Intersect Power for a 2,600-acre desert solar farm on public land in Southern California, despite pleas from environmental activists who said the plan would destroy the desert’s habitats and wildlife.
According to the Free Beacon, Intersect Power likely survived the environmentalists’ opposition since company executives donated a total of $413,000 to Joe Biden’s presidential campaign.
CEO Sheldon Kimber not only gave the Biden campaign $180,000, but he also helped the campaign raise around $3.2 million through two different fundraising groups.