President Joe Biden on Monday hinted that the US has a chance to make a “fundamental shift” towards green energy, despite some experts warning that the economy is headed for recession.
Shortly after speaking about his doubts about the economic downturn, Biden told reporters in Rehoboth Beach, Delaware, that the look on his mother’s face was, “Everything bad becomes good if you work hard enough for it.” We do.”
“We have an opportunity here to bring about a fundamental turning point in renewable energy, electric vehicles, and not just electric vehicles, but the entire board,” the president said.
Biden: “My mother had an expression: something good comes out of everything bad. We have an opportunity to make a fundamental shift towards renewable energy, electric vehicles and across the board.” pic.twitter.com/Si4oJ7ROFg
— Greg Price (@greg_price11) June 20, 2022
Biden said his team will sit down with CEOs of major oil companies this week to “explain how they made $35 billion in the first quarter.”
Even before his election in 2020, Biden named a “just future with clean energy” as one of his goals as president. His comments in Delaware on Monday show he hasn’t put those plans aside and even believes he can pursue his energy goals while he deals with economic woes in the US, White House Press Secretary Karine Jean-Pierre stressed. that the government could both prioritize its clean energy plan while curbing rising gas prices.
President Joe Biden hinted Monday that the US economy has a chance to make a “fundamental shift” toward green energy, even as some economists predict a recession. Above, Biden speaks during a virtual Major Economies Forum on Energy and Climate on June 17. Alex Wong/Getty Images
But for Biden, even a worried economic situation doesn’t mean ruin. When a reporter said Monday that “economists say a recession is more likely than ever,” Biden immediately disputed that prediction.
“No, most people don’t say that. Come on, don’t talk, okay?” They said. He also joked that the reporter sounded “like a Republican politician.”
Reporter: “Economists say recession more likely than ever.”
President Biden: “No, most don’t say that. Come on, don’t talk, okay? Now you sound like a Republican politician. I’m kidding. It’s a joke.” pic.twitter.com/5HFpcYUfAH
— The Hill (@thehill) June 20, 2022
“But it’s all just a joke, no, I don’t think so [more likely than ever]”I spoke to Larry Summers this morning and nothing about the recession is inevitable,” Biden said, referring to the former US Treasury Secretary.
However, some economists have given different estimates. Peter Schiff, chief economist and global strategist at Euro Pacific Capital, said last week that a massive economic “crash” was inevitable.
“Finally a lot of people [given up] On the idea of a soft landing and now a hard landing,” he tweeted. “But they still don’t get it. The only possible landing is a crash that kills everyone on board. So the #Fed will not even try to get off the ground and abandon their fake #inflation war.”
Cryptocurrency investor Michael Novogratz told MarketWatch in an interview last week that the US economy is “going to collapse.”
“We’re going to go into a recession very quickly, and you can look at that in a number of ways,” he said.
news week Reached the White House for further comment.