Jamie Dimon calls for development of domestic gas and energy resources: A new 'Marshall Plan'
Dimon pushed for energy independence on Monday during a closed-door White House meeting with energy executives
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JPMorgan Chase CEO Jamie Dimon has weighed in on the current energy situation that has caused prices for oil and gasoline to soar.
Dimon reportedly told President Biden that the White House needs to create a "Marshall Plan" to develop more domestic gas and other energy resources, according to Axios.
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Dimon pushed for energy independence on Monday during a closed-door White House meeting that included energy executives.
JPMorgan CEO Jamie Dimon (Reuters / Reuters Photos)
Dimon reportedly told the president and economic aides that additional gas production is needed for the energy security of both Europe and America.
Other recommendations include more liquefied natural gas facilities in Europe and reduced reliance on Russian imports.
Investments in new technology like hydrogen and carbon capture were also included.
For historical reference, The Marshall Plan was an American initiative enacted in 1948 to provide foreign aid to Western Europe. The United States transferred over $13 billion in economic recovery programs to Western European economies after the end of World War II.
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The Monday meeting included CEOs of ExxonMobil, ConocoPhillips, Marathon Petroleum, Bank of America and Visa, people familiar with the matter told Axios.