Billionaire entrepreneur warns of the perils of going green too fast: You can’t take a nation to its knees
John Paul Mitchell Systems co-founder John Paul DeJoria issued a warning Friday about America’s clean energy push as oil and gas prices are projected to rise over the next six months, telling “Cavuto: Coast to Coast” you have to adjust over time and not take a nation to its knees because you want to immediately “go green.”
JOHN PAUL DEJORIA: A big problem in our country is we were totally sufficient when it comes to energy. A lot of hydrocarbons, that energy is used for plastics and other things, and that started the roll. No disrespect to those who want to go green. I want to go green, I wave the green flag, but you can’t do it overnight. You’ve got to adjust to it over time and not take a nation almost to its knees because you want to go green immediately. It’s got to be done as a business person would. Here’s the oil and gas consumption, here’s what we want to do, and let’s gradually get into it.
TOP INDUSTRY GROUP RAISES ALARM ON FUTURE OF GREEN ECONOMY
Not all of a sudden stop it, the price will skyrocket regardless of what’s going on in the world. For the stock, the stock market goes down, the stock market goes up. I’d like to remind everybody in 2019 and 2020 our market went from, I think, 28,000 in a year or so down to about 19,000. But when it came back up again a year or two later, it came up to 36,000. It went above where it was before. So unless you need the money now or in the next two years, don’t go freaking out. That stock market always goes cyclical and comes right back again. America still works.