During the middle of February, Trump-appointed World Bank head David Malpass announced his resignation.
Shortly after Malpass stepped down, Biden quickly announced Malpass’s replacement.
As a result of Malpass resigning, a column in today’s Washington Examiner reveals the primary beneficiaries will be environmentalists and China. With him gone, environmentalist and Chinese influence will be set to expand.
Advocates of the radical green agenda reject the supply-side, market-based approach that prioritizes the vital need for reliable, affordable energy in the developing world.
Instead, climate advocates want a government-mandated transition that flat-out rejects all traditional energy financing. That approach guarantees a fraught energy future and makes the world increasingly dependent on Chinese supply chains. It also denies communities the capability to make the best use of their own resources and threatens to condemn much of the world to perpetual energy poverty.
Malpass felt the brunt of those who would impose this radical green agenda. He was roundly disparaged for his willingness to fund natural gas projects. Additionally, his opposition to electric vehicle projects in Africa also raised climate activists’ ire, but, as Malpass points out, it makes little sense to promote EVs where there is insufficient “E” to power the “V.”
Essentially, the column’s author, James Carter, points out that Biden’s new World Bank head, Ajay Banga, will put environmentalist and Chinese agendas above the rest of the world by reducing an emphasis on economic growth.
PHOTO CREDIT: World Bank Headquarters in Washington, D.C. – By Shiny Things – Flickr, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=2390362