EV Sales Are Collapsing. Will EVs prove to be yet another Enron-like scandal? The evidence is mounting, we present all sides…
In the annals of corporate history, Enron’s rise and fall have served as a cautionary tale, and today, a similar narrative is unfolding in the form of the “Green Revolution.” This contemporary version of “the environmental emperor has no clothes” is marked by the collapse of FTX and the criminal conviction of its founder and CEO, Sam Bankman-Fried, prompting reflections on Enron’s notorious legacy.
Enron, once hailed as a forward-thinking corporation, was led by founder and CEO Ken Lay. The company’s downfall, as highlighted by former Ken Lay speechwriter Robert Bradley, Jr., stemmed from “philosophical fraud” and an attempt to defy reality itself. Lay, an adept salesman, embraced a business model developed by Jeffrey Skilling, featuring “mark-to-market” accounting that valued future profits in the present. Enron’s success, argued Skilling, relied more on connections than traditional assets.
🚨News Flash🚨 The Tax Foundation labels new federal electric vehicle tax credit guidelines a “recipe for fraud.” Now you can claim your $7,500 EV credit right at the point of sale – because who needs patience when you’re saving the planet, right? 🌎https://t.co/bLRtJwsgQc
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The collapse of FTX and Bankman-Fried’s criminal conviction draw parallels to Enron’s story. However, the ongoing fraud in the name of “climate change” dwarfs the magnitude of FTX’s troubles. The “Green Revolution,” championed by the Biden Administration, is facing increasing scrutiny as warning signs suggest an impending reckoning for its proponents.
The majority of drivers don’t want EVs. Manufacturers are dumping EVs. The used car market shreds the value of EVs. Insurers hate EVs, as do emergency services… Ron Dunn
The central tenet of the “Net Zero” campaign, advocating for the abandonment of fossil fuels, is deemed by some as history’s greatest example of philosophical fraud. The ambitious goals of achieving zero carbon emissions by 2040 or 2035 have encountered challenges, with cracks appearing in the global consensus. European countries, initially staunch supporters, have backed away from strict mandates, casting doubt on the feasibility of such objectives.
The impracticality of current electric vehicle (EV) technology poses a significant obstacle to the “Green Revolution.” Challenges such as child labor in lithium mining, inadequate charging infrastructure, an unprepared power grid, and resistance from the majority of the population hinder the mass adoption of EVs, especially for essential sectors like construction, aviation, and long-distance travel.
Vietnam’s Richest Person Bets Over $10 Billion To Break Into The Global EV Market – Forbes Mag
Government subsidies and a business philosophy reminiscent of Enron’s reliance on government favors underscore the fragility of the “Green Revolution.” The Biden Administration’s $2.3 trillion “jobs” package, laden with subsidies for unsustainable technologies, has led to soaring inflation and slowed EV sales despite increased rebates. Automakers like Ford and General Motors are reevaluating multibillion-dollar investments in new EV factories, signaling a reality check for the industry.
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While China asserts dominance in the global EV marketplace, controlling the lithium battery market, Biden’s reliance on subsidies risks economic repercussions. Inflation erodes purchasing power, and Lay’s legacy of mismanagement and dishonesty serves as a cautionary tale for leaders championing ambitious but potentially unsustainable agendas.
GLOBAL: A warning light appeared on the instrument panel of Simrat Sooch’s electric car, a 2017 Hyundai Ioniq. He was told he needed to buy a new battery for $50,000 Think about that. A brand new Ioniq retails for 55K The EV market will crash very soon. – Mr. Surveillance
As the “Green Revolution” unfolds, the world watches to see if America’s forced march towards EV subservience to China will jeopardize its hegemony on the world stage. The parallels between Enron’s legacy and the contemporary environmental movement underscore the need for a nuanced and sustainable approach to address climate challenges without succumbing to philosophical fraud.
U.S #EV market is actually well past the tipping point for mass adoption – first 9 months 2023, EV sales UP nearly 50% surpassing the full-year total for 2022
— Luke Cashmore (@___Cashy) November 20, 2023
Major Points Discussed:
- The article draws parallels between Enron’s rise and fall, marked by philosophical fraud, and the modern “Green Revolution” facing scrutiny for its ambitious climate goals.
- FTX’s collapse and its founder’s criminal conviction are likened to Enron’s legacy, but the ongoing climate change fraud is considered more significant, raising questions about the feasibility of the “Net Zero” campaign.
- The Biden Administration’s push for green mandates, attacking traditional energy sources, and waging war on industrial development mirrors Enron’s reliance on government favors and subsidies.
- The impracticality of current electric vehicle (EV) technology, resistance from the majority, and challenges like child labor in lithium mining pose obstacles to the widespread adoption of EVs, mirroring issues faced by Enron’s business model.
- China’s dominance in the global EV marketplace, coupled with Biden’s reliance on subsidies leading to inflation, raises concerns about the economic repercussions and potential impact on America’s global standing.
Hybrid vs EVs.
Even EV skeptics likely see last few months sales as a pause and not a trend.
But EV fans have to wonder if hybrid taking market share from EVs is a trend.
— Dan Tsubouchi (@Energy_Tidbits) November 21, 2023
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Comments – Threads – Links
- “An analysis of government support for the EV battery deals with Northvolt, Volkswagen and Stellantis-LGES said that over the next 10 years, that support will amount to $43.6 billion” $43.6 billion to be flushed-away on the EV battery climate fraud. Absolutely disgraceful! – Paul Mitchell
- “Nearly 92,000 EVs are piling up at dealer lots with no customers to buy them.” The narrative surrounding the climate fraud is unravelling. EVs are overly expensive, don’t work well in cold climates and have limited range. The electric grid also can’t handle everyone having one. – Paul Mitchell
- EV MAKER FISKER HAS LOST ITS SECOND CHIEF ACCOUNTING OFFICER IN LESS THAN A MONTH THE COMPANY IS NOW LOOKING TO HIRE ITS 3RD CHIEF ACCOUNTING OFFICER IN LESS THAN A MONTH THE COMPANIES CFO IS THE WIFE OF THE CEO AND FOUNDER IS FISKER COMMITTING FINANCIAL FRAUD ? – Gurgavin
- Foxconn’s electric vehicle technology unit, dubbed Foxtron, made a stuttering start on its market debut. Unfortunately for the Taiwan-based company, investors showed their concerns about the EV market – Reuters – clip at Twitter
- Biden Admin Tries To Spin Faltering EV Market, But Its Talking Points Don’t Add Up – DC Enquierer
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