“When companies boycott fossil fuels, they intentionally choke off the lifeblood of capital to Kentucky’s signature industries,” Treasurer Ball said. “Traditional energy sources fuel our Kentucky economy, provide much needed jobs, and warm our homes. Kentucky must not allow our signature industries to be irreparably damaged based upon the ideological whims of a select few.”
Renewable energy sources, including wind turbines and solar panels, struggle to meet elevated energy demand during Christmas Eve snowstorms in the northeastern US and Texas, forcing utilities to burn fossil fuels to prevent power outages.
The Biden administration has quietly approved plans to build a new crude oil terminal in the Gulf of Mexico off Texas, seemingly in contradiction to the president’s past comments on the consumption of fossil fuels and carbon emissions.
The Biden administration and nearly 200 world governments agreed on Saturday to a framework that would have richer countries compensate poorer nations for damages allegedly caused by carbon emissions at the United Nations COP27 climate conference, according to Reuters.