Liberal billionaire urges Biden to remove Chinese solar tariffs after profiting from them.
John Arnold: A Liberal Billionaire Making Waves in the Solar Energy Industry
Liberal billionaire John Arnold (Twitter)
The solar energy industry has seen tremendous growth, and one person who has profited greatly from it is liberal billionaire John Arnold. As a former Enron executive, Arnold has made a name for himself by importing solar panels from China and selling them in the United States. Now, he is advocating for the Biden administration to remove tariffs on these panels, which were implemented during the Obama era and have increased their prices.
In a recent tweet, Arnold expressed his concerns about the rising cost of solar energy and suggested several measures to address the issue. These include removing tariffs on solar panels, addressing development hurdles, easing permitting, and allocating more resources to fast-track interconnection studies. According to Arnold, acknowledging the problem is the first step towards finding a solution.
With a net worth of $3.3 billion, Arnold has become a prominent Democratic donor. Through his philanthropy organization, Arnold Ventures, he aims to tackle pressing issues in the United States. One of his notable contributions was nearly $40 million towards New York bail reform.
It’s worth noting that Arnold’s company, Centaurus Renewable Energy, imported over 1,000 tons of solar panels directly from China in May 2016. This move raised eyebrows as it was discovered that a Chinese company had previously circumvented solar tariffs by shipping products to Southeast Asia for final assembly before delivering them to the United States. Although President Joe Biden imposed a pause on solar import duties from Southeast Asia, the tariffs on China remain intact.
Arnold’s close ties to Democratic strategist John Podesta, who oversees the $369 billion green energy slush fund authorized by Biden’s Inflation Reduction Act, have also raised questions. The billionaire has made significant contributions to the Center for American Progress, a liberal think tank founded by Podesta.
Furthermore, Arnold and other left-wing billionaires have benefited from the green energy slush fund controlled by Podesta. For instance, Arnold’s investment in Ioneer, a mining company, saw a 33 percent increase in stock price after winning a $700 million loan from the Biden administration to build a lithium mine in Nevada. Additionally, Arnold committed “several hundred million dollars” to Grid United, a startup focused on developing infrastructure for transmitting energy from solar and wind farms to coastal population centers. Grid United could potentially receive a portion of the $760 million earmarked by the Inflation Reduction Act for power line developers.
Despite these developments, Arnold has chosen not to comment on the matter.
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