JPMorgan Chase & Co. JPM Chief Executive Jamie Dimon is urging the U.S. government to create a “Marshall Plan” to aggressively improve domestic energy production, particularly natural gas, according to a new report.
Axios reported Tuesday that Dimon told President Joe Biden during a White House business roundtable Monday that the U.S. and Europe need to do more to achieve energy independence, especially in light of the Russian invasion of Ukraine.
Dimon reportedly called for more liquid natural gas facilities to be built in Europe, less reliance on Russian energy imports and investing in new energy technology, such as hydrogen.
Earlier this month, Biden called for oil companies to increase production as the U.S. banned Russian oil imports. At the time, Biden said the U.S. was working with its European allies to reduce their dependence on Russian energy.