Sen. Joe Manchin, D-W.Va., is raising alarm bells about an $83.7 billion investment in his home state pledged by China's state-owned energy giant.
"In West Virginia, they came and signed a [Memorandum of Understanding] for $83 billion, and I repeat, $83 billion over 20 years," Manchin said Thursday during a Senate hearing on innovation in the energy sector.
"When you put that in comparison to the state budget of West Virginia, our state budget only goes over $4 billion a year, so something doesn't make sense here, and we cannot find out what their intent is," he said.
The concerns echo those raised by lawmakers — including Manchin — in interviews with CNBC about the proposed size of the investment relative to the state's small output, as well as the opaque nature of the deal.
The deal was announced in 2017 as part of $250 billion in business agreements reached between the U.S. and China in connection with President Donald Trump's visit to the country. Gov. Jim Justice said there would be "shovels in the ground" the following year.
But so far, no such action has materialized.
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3 comments:
Has anyone considered that the Liberals want to shut down coal. China is just saying, great, we take all you can dig since your own country doesn't want it.
How about questioning how Obama placed 30.000 Muslims in Minnesota ?
Keep our resources in the ground. If the fossil fuels are too dirty for us to use, they are too dirty for china also. barack hussein obama said it was ok for china to keep increasing their rate of CO gas pollution (smog) for 7 more years, while we must decrease ours. CO gases do not stay in the country they were created in, they travel the world by the jet stream and other atmospheric conditions. West Virginia will be fine without china's money. If it looks or sounds to good to be true, usually it is. China just might have something up their sleeve that we should be concerned about. United States of America needs to toughen up and begin taking care of it own people for a change.
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