President Joe Biden has made green energy a cornerstone of his policy agenda, investing tens of billions to promote renewable energy and electric cars.
In April, the administration unveiled a plan for $20 billion in awards to foster clean energy in lower-income communities, announced a new offshore wind turbine project, and revealed $7 billion in new grants to develop solar power.
However, there are some major reservations behind Biden’s full-steam-ahead approach to renewable energy — principally the concern about the fact that China almost totally controls the production of clean energy components.
According to Bloomberg, China possesses more than 80% of the global manufacturing capacity for 11 clean energy components, including parts necessary for the building of solar panels and electric car batteries. It also holds a majority of the manufacturing capacity for parts necessary for…
