Yellen, who is planning her second trip to China as Treasury secretary, said Wednesday in Georgia that she will convey her belief to her Chinese counterparts that Beijing’s increased production of green energy also poses risks “to productivity and growth in the Chinese economy.”
U.S. Trade Representative Katherine Tai said in response to the complaint that the U.S. subsidies are a “contribution to a clean energy future” while China “continues to use unfair, non-market policies and practices to undermine fair competition.”
This almost reads like an article from The Onion
Oil companies: AHA! I was greenwashing the entire time! DRILL BABY DRILL
China: Don’t care, we’re rolling out renewables that will compete you out of the market
Oil companies: [frustrated crying face] noo you cant do that what about our profits?
This would be really hilarious if China developed the renewables to the point they would really be outright cheaper than fossils.
It already is and has been for the last decade.
https://en.m.wikipedia.org/wiki/Levelized_cost_of_electricity
Another proof for how pervasive monopoly capitalism is, and how Lenin was absolutely correct about imperialism.
Even more funny that the oil companies could have transitioned into renewable and become the kings of that field, but they care more about maintaining fossil fascism than do the money so they just did greenwashing instead. Now they’re going to get left completely in the dust.