Billionaire philanthropist and former New York Mayor Michael Bloomberg pledged $500 million in September toward shifting electricity production in the United States to wind and solar energy and shutting down its coal- and gas-fired plants.
However, some experts say that Bloomberg’s millions, together with the billions being spent by the Biden administration, are paving a road to ruin.
The donation from Bloomberg Philanthropies, which adds to the $500 million Mr. Bloomberg pledged in 2019, aims to “finish the job on coal” and “accelerate the clean energy transition to reach the goal of 80 percent of total electricity generation” from renewables, according to an official statement.
“With 372 of 530 coal plants announced to retire or closed to date—more than 70 percent of the country’s coal fleet—this next phase will shut down every last U.S. coal plant,” Bloomberg Philanthropies stated.
The effort also aims to “slash gas plant capacity in half, and block all new gas plants.”
Many of those who study America’s electric infrastructure say this is taking us down a dangerous path.
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Source Article (theepochtimes.com)
>Billionaire philanthropist and former New York Mayor Michael Bloomberg pledged $500 million in September toward shifting electricity production in the United States to wind and solar energy and shutting down its coal- and gas-fired plants.
>However, some experts say that Bloomberg’s millions, together with the billions being spent by the Biden administration, are paving a road to ruin.
>The donation from Bloomberg Philanthropies, which adds to the $500 million Mr. Bloomberg pledged in 2019, aims to “finish the job on coal” and “accelerate the clean energy transition to reach the goal of 80 percent of total electricity generation” from renewables, according to an official statement.
>“With 372 of 530 coal plants announced to retire or closed to date—more than 70 percent of the country’s coal fleet—this next phase will shut down every last U.S. coal plant,” Bloomberg Philanthropies stated.
>The effort also aims to “slash gas plant capacity in half, and block all new gas plants.”
>Many of those who study America’s electric infrastructure say this is taking us down a dangerous path.
.
.
.
[Source Article](https://www.theepochtimes.com/article/the-billionaire-who-donated-500-million-to-finish-the-job-on-coal-5519593)
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