“The Department of Energy seems to be used to favor the political allies of the current administration,” suggests Peter Schweizer in the latest episode of The Drill Down.
Facing the potential of a government shutdown last week, the Department of Energy (DoE) announced another round of funding for “green energy” initiatives in eleven states. As the Wall Street Journal reported, this allocation is part of a $2.3 billion program set up by the Biden administration to further its clean energy agenda.
Regular listeners of The Drill Down podcast might be familiar with the assertion that John Podesta, currently overseeing such initiatives in the White House, seems to have more than a professional interest in these funds.
In 2022, the Biden administration entrusted him with almost $370 billion of clean energy funds, giving him significant influence over funding decisions to make clean energy more affordable and persuade Americans to embrace higher gasoline costs. Moreover, Podesta’s wealth has notably increased during his tenure in Washington, with financial disclosures revealing a net worth of approximately $28.4 million.
What might raise eyebrows is that Podesta’s primary qualifications aren’t rooted in energy expertise. He was previously the chief of staff during Bill Clinton’s term and later established a progressive think tank named the Center for American Progress (CAP) in Washington.
In 2009, Podesta and CAP senior members of the Obama White House discussed various topics, including climate change, with officials in Beijing, China. As mentioned in Peter Schweizer’s book, Red Handed, Podesta has expressed his belief that Chinese companies will play a crucial role in America’s green transition.
Furthermore, Podesta’s financial gains from investments and corporate board roles have been notable. During Obama’s tenure, he advised Secretary of State Hillary Clinton, which allowed him to retain stock assets.
By 2011, he became a board member of three interconnected energy firms – Joule Global Holdings, Joule Unlimited, and Stichting Joule Global Foundation. Though Joule is centered on solar energy, Hans-Jorg Wyss, an investor in Joule, primarily consulted Podesta for his expertise in public policy, not power.
In 2016, the Government Accountability Institute reported that the Wyss Charitable Foundation donated significantly to the Clinton Foundation. Additionally, in 2013, Podesta received $87,000 from the Wyss Foundation. It’s worth noting that Podesta failed to disclose his board membership with Joule Stichting in his federal financial disclosure forms when he assumed the role of a senior advisor in the Obama administration in 2013.
Today, he makes crucial decisions concerning taxpayer-funded green energy initiatives for the Biden administration.