Displaying items by tag: joe manchin
The Guardian: Manchin monkey-wrenches climate change legislation because he's made millions off fossil fuels
West Virginia Sen. Joe Manchin, the Democratic linchpin for game-changing climate legislation proposed in a budget bill as part of the Biden administration's plan to provide aid to families as well as give a boost to efforts to reduce global warming, has thrown a now-infamous wrench in the works.
He has vigorously opposed key parts of the climate legislation included in the 2022 budget bill. Per the Guardian, it's simply because he and his family have made a fortune off coal extraction in the relatively impoverished state of West Virginia and elsewhere.
"Financial records detailed by reporter Alex Kotch for the Center for Media and Democracy and published in the Guardian show that Manchin makes roughly half a million dollars a year in dividends from millions of dollars of coal company stock he owns. The stock is held in Enersystems, Inc, a company Manchin started in 1988 and later gave to his son, Joseph, to run," according to the Guardian.
"He has already effectively succeeded in stripping the bill of its most powerful climate change provision, a program that would have rapidly shut down coal and gas-fired power plants and replaced them with wind and solar power," according to the New York Times.