EV maker Nikola, which stands to make millions in incentives from Team Biden's Inflation Reduction Act, has seen its stock drop from a high of $73 to $1.
/ November 8, 2023
The Biden team has relentlessly pushed the Left's insistence that the science is settled on climate change. And their "science" says that humans and our use of natural resources cause temperatures and sea levels to rise, which in turn cause storms to be more numerous and more severe.
To prove their point, climate alarmists don't cited "actual scientific data" but "use computer models and predictions," a columnist wrote.
"There is no scientific data that shows a direct correlation between the variables. If there is no correlation, then you can’t assume causation. That is a simple and actually settled principle of science," Jack Hellner wrote in a Nov. 6 analysis
for American Thinker.
Team Biden is committing fraud "by claiming that they can control temperatures, sea levels, and storm activity if we commoners give up oil, gas, gas cars, and many other modern amenities and switch to 'clean' energy sources like wind and solar, and electric cars," Hellner wrote, adding that "the cost to society for this fraud is immeasurable, but runs into trillions."
Electric vehicle and solar power companies which have been heavily promoted and subsidized by Biden team have lost hundreds of billions of dollars.
Hellner listed some that still trade:
• Rivian: High stock price $179, Friday $17, down 90%.
• Fisker: High stock price $32, Friday $5, down over 80%
• Lucid: High stock price $55, Friday $5, down 90%
• Nikola: High stock price $73, Friday $1, down 99%.
• Sunrun: High stock price $97, Friday $11, down over 80%.
• Sunpower: High stock price $89, Friday $5, down over 90%.
• Plug Power: High stock price $1,235, Friday $7, down over 99%.
• EVGO: High stock price $24, Friday $3, down over 80%.
Ford, GM, and other car companies are also losing billions developing electric vehicles to comply with government mandates "even though consumers don’t want the product," Hellner wrote.
Inflation on gasoline and pretty much everything else has skyrocketed on Joe Biden's watch "because he pretends that we can control the climate if we stop buying gas and diesel vehicles. The cost to the poor and middle class is astronomical," Hellner wrote. "The higher prices for oil have allowed Russia and Iran to perpetuate war and fund terrorism. How much does that cost and how many lives have been lost?"
"Think of the massive costs and losses related to companies which must focus on their carbon footprint to act like they will get to net zero—of course passed on to the consumer or the taxpayer.
"Think of the losses and costs that retirees, shareholders, and other investors suffer because executives are concentrated on ESG issues instead of focusing on profits, or products and services people want and need.
"Think of the billions spent on worthless carbon credits that do nothing to change the climate, but somehow earn the green pushers some brownie points."
Meanwhile, all of the predictions from the Left about winters without snow because of global warming have not materialized. The prediction this year is for more snow because of the natural climate event of El Niño.
"The climate has always changed cyclically and naturally and always will," Hellner wrote. "Using gas cars does not cause warmer temperatures and less snow, and driving electric cars does not cause cooler temperatures and more snow."
And, still, to Team Biden "that’s the real threat," Hellner added. "Not Russia, not China, not Iran, not Hamas or open borders, not Mexican cartels or fentanyl… but using natural resources that the Earth has been abundantly blessed with is going to wipe out all of humanity, because some easily manipulated computer programs said so."
Please Support Real Journalism
Free Press International
[Publish This Content]