Jamie Dimon to Joe Biden: We need a ‘Marshall Plan’ for US and European energy security

The source said Dimon believes the federal government should focus on four areas: increasing natural gas production in an environmentally responsible way, building additional liquefied natural gas facilities in Europe, investing in new technology for hydrogen and carbon capture resources and streamlining permitting for renewable alternatives like wind and solar.

Axios first reported the Marshall Plan push from the JPMorgan CEO, who is one of America’s most influential business leaders.

Of course, environmentalists and progressives would oppose efforts by the federal government to ramp up production of fossil fuels given the worsening climate crisis. Democrats in Congress have also recently urged the White House to consider banning or limiting the export of both oil and natural gas due to high energy prices at home.

PS:The original Marshall Plan was named for US Secretary of State George Marshall, who in 1947 called for a comprehensive program to rebuild Europe’s decimated infrastructure in the aftermath of World War II. Hoping to stave off the spread of communism, Congress would eventually devote more than $12 billion to rebuild Western Europe and expand the reach and influence of Western democracy.