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Omarova reflects on comments on bankruptcy of fossil fuel companies amid questions from testers

The mint’s contender, Saule Omarova, said on Thursday she was not for the bankruptcy of the oil companies, revisiting the high-profile comments she had made about the industry.

“I have no intention of taking that kind of position,” Omarova said when Senator Jon Tester, D-Mont., From an oil state, asked him about his comments.

“This particular statement about the bankruptcy of oil and gas companies, as I said, was taken out of context and I actually misspoke, it was not well framed,” she added. . “My intention was actually to say, exactly the opposite, that we have to help these companies restructure.”

Omarova made the comments during a recorded virtual event this year: “Mainly the coal industry and the oil and gas industry, many small players in this industry are likely to go bankrupt shortly – at least we want that. they go bankrupt if we are to fight climate change. “

The tester has repeatedly expressed his concerns publicly about whether Omarova is the right person to be the next controller of the currency. On Thursday, he also pushed Omarova on a proposal to create an agency independent of Congress or the executive to allocate public and private funds to projects that are good for society.

“Do you think your national investment authority would do a better job? ‘To allocate money than private capital, asked Tester.

“The National Investment Authority’s proposal is not intended to supplant or replace private allocation of capital,” Omarova said. “But to complete it” and finance projects that normally do not receive private money because they are not profitable.

Tester, however, criticized Republicans on the banking committee, for allegedly introducing personal attacks into Omarova’s confirmation process.

“I was disappointed with the comments criticizing where the candidate was born, where she grew up, what her upbringing was, continuing her legacy. I think we really need to focus on his ideas and he shouldn’t have room for that. ”Tester said.

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