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Today’s blacklisted Americans: Biden administration working to blackball fossil fuel companies from obtaining financial services

Disagree with John Kerry? No more bank services for you!
Disagree with John Kerry?
No more bank services for you!

They’re coming for you next: The Biden administration, under the leadership of its “climate envoy” John Kerry, is apparently working behind the scenes to force banks to blackball fossil fuel companies from obtaining financial services.

Not surprisingly, the initial news stories from the mainstream press in mid-March describing this effort were written to hide the Biden administration’s goals. For example, Politico described a number of meetings arranged by Kerry and the Biden administration both with climate activist groups as well as financial institutes aimed at making those financial institutions “put your money behind your climate PR,” but the article only hinted at what the goals were.

Kerry has pitched banks on creating a U.S. net-zero banking alliance following the climate commitments from six major Wall Street banks, according to two people familiar with the discussions. Citi, Wells Fargo, Bank of America, Morgan Stanley and Goldman Sachs all set 2050 net-zero goals and JPMorgan Chase has said its lending would be aligned with the Paris agreement although Kerry and his team are pushing for more specific financial commitments as part of this effort.

Kerry also wants clear near-term actions from banks by 2030, which would align with the Biden administration’s timeline for the new emissions target it intends to submit as part of the Paris Climate Agreement process. [emphasis mine]

Doesn’t meeting “net-zero” goals for climate change sound wonderful? But what does it mean?

Similarly, the Guardian described this campaign as “US banks … pledging to help fight the climate crisis alongside the Biden administration,” without describing what that meant. Instead the article’s focus was on all the board members on American banks who had ties to the evil fossil fuel industry and therefore needed to be blackballed also.

So, what exactly is the Biden administration demanding banks do to fight global warming? It is very simple. This Democrat-controlled White House wants banks to stop issuing any loans or services to any fossil fuel company or to any project they wish to start. Blacklist them. Shut down their ability to do any business at all. And do so simply because the Biden administration dislikes what they do, not because of the best financial practices required of banks by federal law.

How do I know this? I read other sources of news (something any intelligent educated American should do), which have not only reported these facts but are also reporting the growing opposition to this financially foolish and very illegal policy of discrimination. For example, in mid-April Breitbart reported how a group of 45 Republican congressmen delivered a letter to the White House opposing this effort for exactly these financial and legal reasons. From the letter:

“We write to you to express concern with your decision, as reported in the press, to pressure U.S. banks to make radical, overly prescriptive commitments related to climate change that may not be in the best interest of their businesses, shareholders, employees or customers. Such pressure from a senior Administration official is a blatant abuse of power,” the letter said. “Your actions, and the broader actions of the Biden Administration on financial regulation, threaten to compromise the competitiveness of American financial institutions, ignore market demand in energy consumption, increase prices for consumers and kill American jobs.

…“Pressure on banks by public officials to cut off financing to fossil energy, or otherwise limit their ability to extend credit to American energy producers or traditional utilities, is political rhetoric masquerading as risk management,” the letter said. “Politicizing access to capital and choking off funding to industries that millions of Americans rely on is unacceptable, especially in times of economic and financial uncertainty.”

Similarly, Reuters yesterday released a story that was picked up by a few sources outlining how the treasurers of fifteen states have vowed to withdraw their assets from any bank that goes along with the Biden administrations blackballing effort against energy companies.

From the letter [pdf]:

As a collective, we strongly oppose command-and-control economic policies that attempt to bend the free market to the political will of government officials. It is simply antithetical to our nation’s position as a democracy and a capitalist economy for the Executive Branch to bully corporations into curtailing legal activities. … We refuse to allow the federal government to pick our critical industries as losers, based purely on President Biden’s own radical political preferences and ideologies.

…Therefore, we intend to put banks and financial institutions on notice of our position, as we urge them not to give in to pressure from the Biden Administration to refuse to lend to or invest in coal, oil, and natural gas companies. As the chief financial officers of our respective states, we entrust banks and financial institutions with billions of our taxpayers’ dollars. It is only logical that we will give significant weight to the fact that an institution engaged in tactics that will harm the people whose money they are handling before entering into or extending any contract.

The real issue here however is the effort of the Biden administration to use its executive power to blackball a specific group of private companies, merely because the Biden administration doesn’t like the business they are in. Should these tyrants succeed this time, they will next be able to do the same in all areas. Are you a Republican? Well, a Democratic administration will certainly want to use its power to pressure banks and other businesses to blacklist you. Maybe you run a webpage critical of politicians. Well, you really shouldn’t be allowed to use a bank or get loans. At least, not without the permission of those politicians.

And don’t think I fear such oppression only from Democrats. Once it is established that such intolerant behavior is the norm, I fully expect the thugs in the Republican Party to pile on, for their own benefit. Right now many Republicans might doing the right thing to fight this oppressive Biden policy, but some are probably doing it because they are getting money for fossil fuel companies. Many others might be doing it for good moral reasons, but being politicians we must always consider their attachment to morality to be shallow and easily subverted.

Remember, they are really in this business for power, and power corrupts.

The only real protection the American people have against such power grabs is to fire politicians immediately who do this. Since the Democrats are eagerly promoting these Mafia-like tactics, Americans must stop voting for them. Sadly, I don’t expect this to happen. Too many Americans have bought into this party, and put its agenda above all else, even to the point of destroying their own freedoms and rights as defined by the Constitution and the Bill of Rights.

Conscious Choice cover

From the press release: In this ground-breaking new history of early America, historian Robert Zimmerman not only exposes the lie behind The New York Times 1619 Project that falsely claims slavery is central to the history of the United States, he also provides profound lessons about the nature of human societies, lessons important for Americans today as well as for all future settlers on Mars and elsewhere in space.

Conscious Choice: The origins of slavery in America and why it matters today and for our future in outer space, is a riveting page-turning story that documents how slavery slowly became pervasive in the southern British colonies of North America, colonies founded by a people and culture that not only did not allow slavery but in every way were hostile to the practice.  
Conscious Choice does more however. In telling the tragic history of the Virginia colony and the rise of slavery there, Zimmerman lays out the proper path for creating healthy societies in places like the Moon and Mars.


“Zimmerman’s ground-breaking history provides every future generation the basic framework for establishing new societies on other worlds. We would be wise to heed what he says.” —Robert Zubrin, founder of founder of the Mars Society.


Available everywhere for $3.99 (before discount) at Amazon, Barnes & Noble, and all ebook vendors, or direct from the ebook publisher, ebookit. And if you buy it from ebookit you don't support the big tech companies and I get a bigger cut much sooner.


  • Alton

    First it was a Zero financial services (Obama Administration) for all gun companies from manufacturing to distribution and of course gun shops and the Dastardly gun shows.
    Now for Fossil Fuel..
    Next for Fox News and all other non-woke news operations, including internet companies.
    Then for ALL Christian Churches…
    Then YOU are next when all money is required to be DUSD- Digital United States Dollars which must pass through the Federal Reserve personal and business accounts for ALL American Citizens…
    AND YOU WiLL love 💕 it 🙂

  • Alton


  • Redlining, on the basis of cult belief and politics.

    No respect for science … no respect for liberty.

    More evidence that the Church of Woke is a congregation of intolerant fundamentalist … they are everything that they decry.

  • Then for ALL Christian Churches

    As a Christian, I’m not worried about Antichrist (I’m not planning to be here for that) …. but I am rather sensitized to the presence of wannabes who will show up before the end. They can’t threaten my soul (they’re just following the god in their mirror), but they sure can play havoc with my remaining time here.

    Well … messing with the ability to engage in commerce? THEY’RE HEEERE …

  • Jeff Wright

    This could however be the time for Musk to adopt Space Solar Power.

  • James Street

    Oil is the life blood of the world.

    We’d be better off with no government than one that savagely fights against us every possible way.

    Just be glad they’re only implementing “democratic socialism”, and not full blown godless commie-ism.

  • pzatchok

    All this will effect is American Banks.

    They will also have to stop all other banks from lending them cash. Guess what Chinese Banks will jump on the opportunity to turn a real profit off of the West.

    Why not stop Banks from lending cash to other countries and those nations companies, that do not meet the US environmental policies.

    China now puts out more CO2 than all other nations. Lets stop companies from doing business in China. That would lower their CO2 output right away.

  • wayne

    Murray Rothbard
    The American Economy and the End of Laissez-Faire: 1870 to World War II:
    Lecture 10, -> “Cartelization of Banking: The Fed”

  • wayne

    Margin Call (2011) –
    “Senior Partners Emergency Meeting”
    [new-Spock explains why the paper is worthless]

  • Ian C.

    Same in the EU. It’s called the “sustainability taxonomy” and is (in the beginning) aimed at the financial services industry. They have to report and justify where their resources go in terms of “harm for the climate.”
    It’ll reduce access of “climate-unfriendly” companies (and their suppliers) to financial services. For many this means additional complications as their industries are already squeezed by shrinking annual CO2 target budgets until net-zero in 2045. It’s climate socialism.

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