The Right Should Adore Alexandria Ocasio-Cortez With All Their Being – The Federalist

The Right Should Adore Alexandria Ocasio-Cortez With All Their Being - The Federalist

Alexandria Ocasio-Cortez flips out over mocking of her name

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Ocasio-Cortez represents one vision of the Democratic Partys future, Times Charlotte Alter notes in her cover story. Shes a political phenomenon: part activist, part legislator, arguably the best storyteller in the party since Barack Obama and perhaps the only Democrat right now with the star power to challenge President Donald Trump.

Just this week, the company launched a wildly misleading attack on the Green New Deal, asserting that its goals of rapidly decarbonizing the U.S. economy “are not in the realm of the possible.”

Fox News likes to say my name (incorrectly) as Cortez, which I can only imagine is bc that sounds more stereotypically Hispanic + probably incites more anxiety for them, she continued. My last name is not Cortez, just as theirs isnt Ingra or Carl or Hann.

Video: Is Ocasio-Cortez driving a disconnect between the Democratic Party and voters?

According to a report by the Sierra Club and other leading environmental groups, however, JPMorgan Chase has provided a staggering $196 billion dollars in financing for fossil fuels and fossil fuel expansion since the December 2015 Paris Agreement, in which 200 nations unanimously agreed to leave most fossil fuels in the ground.

Video: Is Ocasio-Cortez the face of the Democrat party? Cabot Phillips Reacts

Just before the Paris deal, JPMorgan Chase signed a statement with Bank of America, Citi, Morgan Stanley, Wells Fargo, Goldman Sachs, and other big financial companies embracing the need for strong action. “Our institutions are committing significant resources toward financing climate solutions,” the statement read.

She added: My last name is Ocasio-Cortez. Full stop. Thats my name. No, you cant say Cortez. Ive never used that in my life. Cortez is referring to someone else. Even if theyre trying to be rude + wrong, my dads last name was Ocasio anyway.

But since the Paris Agreement, those institutions have devoted $700 billion in financing to fossil fuel expansion, including coal mining, coal power, the tar sands, and oil drilling in remote locations like the Arctic — the very things that are destroying our livable climate the fastest.

But it is an ambitious proposal that calls both for the U.S. to decrease its dependence on fossil fuels and curb greenhouse gas emissions while also promising quality jobs in the clean energy sector. Specifically, it calls for the U.S to lead the globe to net-zero emissions by 2050; it also tasks the federal government with dramatically reducing greenhouse gas emissions, creating sustainable, high-paying jobs, and ensuring that access to clean air, clean water and healthy food are basic human rights. More broadly, it also calls for justice and equity, and the end of oppression against historically marginalized groups, like Indigenous communities, people of color, migrants, women and others.

In 2017, Dimon also said he “absolutely” disagrees with President Donald Trump’s decision to withdraw the United States from the historic climate deal. However, this week’s report shows that JPMorgan Chase has since become the leading banker of fossil fuels and fossil fuel expansion.

You didnt think such a costly, ambitious undertaking designed to steer us out of climate-induced disaster would just pass quietly through the night, did you? Of course not. Every TV pundit, blogger and sentient being with a Twitter account not only has an opinion on the Green New Deal, they have a take. The left maintains that only a plan as sweeping as the Green New Deal will save us. Several prominent Democrats have been quick to deride the plan as unrealistic, in no small part because many of them are backed by the fossil fuel industry. The right, of course, is predictably hysterical. At a rally in Texas, Trump immediately declared the proposal a massive government takeover.

Indeed, the banking report finds that the company is responsible for $1 out of every $10 of fossil fuel financing provided by the 33 major global banks it tracked. JPMorgan Chases funding of fossil fuel extraction and infrastructure ranks in 68 percent higher than second place Citibank.

What was the original New Deal?Most Americans probably recall the New Deal as President Roosevelts sweeping series of big government reforms designed to help pull the country out of the Great Depression. The guiding principles of Roosevelts plan were known as the three Rs—relief, recovery and reform. A number of progressive measures were born from that aim: Social Security benefits; funding for public works projects like airports, hospitals, schools and roads; the guarantee that workers can collectively bargain through unions; the Wealth Tax, which imposed a 79 percent tax on incomes over $5 million.

Both Dimon and JPMorgan Chase have spent this week trashing the Green New Deal, a non-binding resolution aimed at developing a plan consistent with the dire nature of current climate science.

Will this really happen?Its certainly going to be an uphill battle. Republicans have spent the last decade reflexively attacking reforms put forth by Democrats. Remember 2009, when Sarah Palin fomented rage over the Affordable Care Act by talking about death panels? That tendency for fear mongering has only intensified, with people like Arkansas Sen. Tom Cotton telling his constituents that the GND will confiscate every privately owned vehicle in America within a decade, and ban air travel so we could all drive or ride around on high-speed light rail, supposedly powered by unicorn tears.

Manchurian Candidate Alexandria Ocasio-Cortez is President Trumps best hope in 2020, Mike Huckabee says

Scientists say Ocasio-Cortezs dire climate warning is spot on Michael Mann: There is no scenario for stabilizing warming below 2°C that doesnt require rapid reductions in carbon emissions over the next decade.

On Monday, Michael Cembalest, chief investment officer at JP Morgan Asset Management, published the company’s annual energy paper, titled, “Mountains and Molehills: Achievements and Distractions on the Road to Decarbonization.”

And ultimately, Bahcall wrote, Ms. Ocasio-Cortez is wrong that taxpayers get no return on their investment. The resulting growth from these inventions generates significant government revenue in the form of income and capital-gains taxes on thousands of companies and their millions of employees. Leading the world in science and technology, as well as their commercial applications, also enhances Americas geopolitical power and strengthens national security.

The paper criticizes the Green New Deal, claiming it “mandates zero net emissions for the US by 2030 for the entire energy sector (not just from electricity generation), and does so while phasing out nuclear power and relying heavily on carbon sequestration by forests.”

Although some of the earliest work on artificial intelligence and speech recognition was started by private industry in the early 1950s, until products could be successfully commercialized, the survival of these fields depended on federal funding from the Air Force and DARPA, a 2014 report by the Information and Technology & Innovation Foundation found.

In fact, the Green New Deal is a “nonbinding” resolution, as its leading proponent, Rep. Alexandria Ocasio-Cortez (D-NY), tweeted Wednesday.

The resolution calls for full decarbonization of the electricity sector alone by 2030, while calling for decarbonization of other sectors like transportation over the next decade “as much as is technologically feasible.”

I hope she gets a really good science policy advisor, Bahcall told Yahoo Finances The Final Round. Obviously shes kind of new to politics. But I was talking about a very specific point, which is that federal research helps the economy. So if you just focus on drugs or pharmaceuticals… you miss the point.

Meanwhile, the resolution is completely silent on nuclear power, and carbon sequestration is one of many strategies offered.

Despite this, Cembalest concluded this week that the deal’s goals were “not a useful foundation for a serious policy discussion.”

In an interview on Fox News early Thursday, the father of Trumps White House press secretary Sarah Sanders responded to host Brian Kilmeades suggestion that AOC, as Ocasio-Cortez is known, has been directed by powerful forces from within the progressive camp. Specifically, he said he saw someone handing her questions during congressional hearings for Michael Cohen and Wilbur Ross.

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I know there has been some allegations that she was almost like the Manchurian Candidate — recruited, prepared, Huckabee said, referring to the famous 1959 novel by Richard Condon about a U.S. soldier captured and brainwashed to become a sleeper agent for the Communist Party. Film versions of the book starred Frank Sinatra in 1962 and Denzel Washington in 2004.

Alexandria Ocasio-Cortez Scores Time Magazine Cover: The Phenom

Given JPMorgan Chase’s vast financing of fossil fuels, the worlds worst banker of climate change appears poorly positioned to criticize any resolution that takes seriously the Paris goal of keeping total warming “well below 2°C” (3.6 degrees Fahrenheit) and as close as possible to 1.5 degrees Celsius (2.7 degrees Fahrenheit).

In an interview with CNN Tuesday, Dimon was dismissive of the Green New Deal, saying “I don’t spend much time worrying about things I can’t effectuate.” He also questioned the approach, “Can you focus on climate change in an intelligent way that doesnt damage the economy?” 

Dimon, of course, can’t “effectuate” a carbon tax. And the one thing the JPMorgan Chase executive could effectuate — stopping his bank from financing the destruction of the climate — he has chosen not to do.


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