GAIN STATEMENT: Bloomberg Doubles Down on Commitment to Crush U.S. Energy Industry 

Today, Michael Bloomberg announced he will commit an additional $500 million to expand his Beyond Carbon campaign, which aims to hamstring the U.S. energy industry. 

In a press release announcing the investment, Bloomberg Philanthropies noted a goal is to “slash gas plant capacity in half, and block all new gas plants.” While Beyond Carbon has historically focused on reducing reliance on coal energy, Bloomberg said this investment marks a “new chapter” for the campaign, which will now shift towards blocking all fossil fuels. 

The announcement notably fails to acknowledge the vital role that natural gas plays in facilitating the transition away from coal-based energy by providing a cleaner, reliable alternative.

Below is a statement that can be attributed to me, Craig Stevens, spokesman for the GAIN Coalition and former senior advisor to U.S. Energy Secretary Sam Bodman:

“Michael Bloomberg, titular leader of the ‘Do As I Say, Not As I Do Club of America’, has just doubled down on his commitment to crush the U.S. energy industry, raise energy costs for Americans and people around the world, and increase global reliance on state-owned energy companies. 

“While enjoying his own carbon-heavy lifestyle – marked by private jets and mega-mansions– Bloomberg is telling the rest of us that our energy and economic needs don’t matter. Bloomberg represents the ‘Do as I Say’ who would see our nation’s energy independence outsourced to countries like China—whose environmental regulations pale in comparison to ours—rather than strengthen our domestic energy sector.

“Right now, U.S. natural gas and crude oil are serving as a hedge against totalitarian regimes who would otherwise supply the world’s energy needs. The U.S. must remain a leader in the development and export of energy – the world is relying on it. 

“An all-of-the-above energy approach best way to protect America’s energy, economic, and national security.”