Soon-to-be Treasury Secretary Scott Bessent gave a bravura performance yesterday in front of the Senate Finance Committee, making a persuasive case for urgently extending the expiring Trump tax cuts.

Our favorite highlight was this one minute take down of Oregon Senator Ron Wyden, who claimed that we have to plow more money into the Green New Deal because the U.S. is in an “arms race with China for clean energy.”

Watch the exchange by clicking the image below:

Bessent calmly pointed out that China is racing all right… to build coal plants. And he added that the real ” race” is who will dominate all energy sources.  He’s right: fossil fuels are still over 80% of our energy sources. Wind and solar, for all their hype, are just a small fraction of a fraction.