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The chief executive of JP Morgan has suggested that governments should seize private land to build wind and solar farms in order to meet net zero targets.

Jamie Dimon, the longstanding boss of the Wall Street titan who donates to the Democratic Party, said green energy projects must be fast-tracked as the window for averting the most costly impacts of global climate change is closing.

In his annual shareholder letter, Mr Dimon said: “Permitting reforms are desperately needed to allow investment to be done in any kind of timely way.

“We may even need to evoke eminent domain – we simply are not getting the adequate investments fast enough for grid, solar, wind and pipeline initiatives.”

Eminent domain is when a government or state agency carries out a compulsory purchase of private property for public use and compensates the asset holder.

Eminent domain doesn’t mean seize. It means buy. In the American sense it also means at full market price. It’s in the Constitution.

15 thoughts on “Fools”

  1. The US govt owns enormous amounts of land already. Far more than the UK, the CCP, etc.
    What’s Dimon wittering on about?

  2. Full market price. Is that the price when the land wasn’t wanted for wind turbines or the one when it is?

  3. They could start by buying all of Dimon’s US properties and pay full market value for agricultural use. Then work out how to pressure foreign governments to do the same for his overseas property portfolio.

  4. How about exercising eminent domain* over a
    few million acres all along the southern border. Plenty of year-round sun there.

    Of course there would have to be a very secure wall to keep people out for their own safety.

    * with appropriate compensation to landowners along the lines of an immediate payment of $5m, a guaranteed income for the next 250 years and the choice of any house you like in a major metropolitan centre for just $1. And a pony.

  5. And yet… the World leader in Green Stupidity – umpteen hundred billions of €uro and 30 000 wind machines later, has seized land to open up a coal mine to feed all the new coal-fired power stations it is building alongside all the new gas-fired ones.

  6. I have commented to Chase Bank (from within my account) that if the oil is serious about stealing property, then they might look forward to losing some customers.

  7. “In the American sense it also means at full market price.”

    Ha. Have litigated enough “market value” cases with the government to laugh at this statement. To the landowner, FMV means, how much can I get for it in an unforced sale? To government, FMV means, what was this land worth 200 years ago when savages occupied the land?

  8. I’m not Ron Paul or nothing, but…

    If Eminent Domain is legit, is it also OK for Tony Soprano to make people offers they, too, aren’t allowed to refuse?

    Yeah, I know.. gotta build bypasses. But that’s not what Mr Dimon is suggesting. Unreliables are not public goods, they’re public bads. It’s an inferior substitute to the reliable and affordable pre-Net Zero grid, thrust on the public at their great expense.

    He wants the government to use its coercive powers to force people to accept a lower standard of living.


  9. Bloke in the Fourth Reich

    And what if you don’t want to sell your property at market price?

    C’mon Tim, what kinda Liberal do you call yourself?

  10. Bloke in the Fourth Reich


    The factor being “nice house you got there. Be a shame if someone came along and built 1200 windmills next to it.”

  11. I reckon Jamie Dimon’s property should be acquired under eminent domain. It’s only fair.

    Sorry Jamie, was that not what you meant?

  12. Jamie Dimon this is actually very good thinking and I am impressed. Wind “farms” and solar “farms” cost quite a bit to put up, in the order of hundreds of millions. Where do they get the money from? From generous right-thinking people like Jamie Dimon who lend them the money and if JP Morgan incidentally makes a good profit from the transaction, well that’s just do good and you will be repaid a hundredfold.

  13. It’s a form of seizure. If the price being offered was the true market value, then there would be no need for eminent domain as a normal purchase would suffice.

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