By Art Benavidez (NW Clark News)
The Functional Government Initiative (FGI) has released a report contending that the introduction of the Defense Production Act by the Biden administration has more to do with its stake in the production of electric vehicles (EVs) than remedying the country’s lagging energy efforts.
The move comes on the heels of inflation in the country being at a 40-year high and is rooted in the Biden administration’s efforts to move the country to renewable energy, the recent report said. Invoking the act facilitates money for private developments geared toward removing lithium and cobalt, which are critical components to the manufacturing of EV batteries.
Should the initiative become successful, it could lead to less U.S. reliance on China; the report said. But that would not present a clear pathway to remedy the current inflation surge or lower energy prices in the short-term.