1 00:00:00,760 --> 00:00:03,040 Speaker 1: Mercedes BMW. 2 00:00:03,880 --> 00:00:07,920 Speaker 2: Meanwhile, I'm just beat popping around Alaska in my Volkswagen. 3 00:00:08,640 --> 00:00:09,760 Speaker 1: They said, I don't have payments. 4 00:00:09,760 --> 00:00:13,680 Speaker 2: I guess, are you expecting sympathy, because if you were 5 00:00:13,760 --> 00:00:17,880 Speaker 2: driving around into like a bug, then maybe, But you know, 6 00:00:18,160 --> 00:00:20,799 Speaker 2: most folk wagons are pretty nice. 7 00:00:21,400 --> 00:00:24,160 Speaker 1: Yeah, you're right. He didn't tell us what kind of 8 00:00:24,200 --> 00:00:28,560 Speaker 1: VW it was. Uh huh uh huh yeah. Yeah, and 9 00:00:28,600 --> 00:00:31,600 Speaker 1: as if he's going to get a smidgeon of sympathy 10 00:00:31,640 --> 00:00:36,520 Speaker 1: from us, true, not at all. Oh man, you should 11 00:00:36,520 --> 00:00:40,120 Speaker 1: know by now you think we only pretend to like 12 00:00:40,200 --> 00:00:43,600 Speaker 1: you because we like your daughter. That's the only reason 13 00:00:44,280 --> 00:00:49,040 Speaker 1: she's sweet. She's cute. Clearly she's you know, either mutated 14 00:00:49,120 --> 00:00:54,000 Speaker 1: jeans or adopted or something. Because having seen you, Holy cow, 15 00:00:54,240 --> 00:00:56,680 Speaker 1: it's all the mom's side. Oh god, be all the 16 00:00:56,720 --> 00:00:59,480 Speaker 1: mom's side. Before I get to I want to talk 17 00:00:59,520 --> 00:01:07,200 Speaker 1: about this cold snap that's going through and how the 18 00:01:07,240 --> 00:01:10,320 Speaker 1: states that have been affected by the cold snaps, including Texas, 19 00:01:10,319 --> 00:01:13,399 Speaker 1: are dealing with them, because it really is a really 20 00:01:13,440 --> 00:01:18,360 Speaker 1: insightful look into the whole concept of all the greeny 21 00:01:18,360 --> 00:01:21,280 Speaker 1: weenies that want us to go to renewables. But before 22 00:01:21,319 --> 00:01:23,039 Speaker 1: we do that, I've got to go back to the 23 00:01:23,080 --> 00:01:27,560 Speaker 1: text line. Today's gonna be one of those days. Six 24 00:01:27,760 --> 00:01:30,800 Speaker 1: zero eight five. Wait real quick, well, I'm sorry, I'm sorry. 25 00:01:31,560 --> 00:01:32,680 Speaker 1: Am I interrupting your program? 26 00:01:32,800 --> 00:01:34,839 Speaker 2: Yes, I'm trying to get you to do your damn job. 27 00:01:35,520 --> 00:01:39,679 Speaker 2: What is the text line? Michael? Oh, it is three 28 00:01:39,760 --> 00:01:43,479 Speaker 2: three one zero three. Keyword Mike or Michael. One more 29 00:01:43,520 --> 00:01:45,160 Speaker 2: time for the slow people in Alaska. 30 00:01:45,560 --> 00:01:52,960 Speaker 1: Three three one zero three. Keyword Mike or Michael. Thank you, 31 00:01:52,960 --> 00:01:56,440 Speaker 1: You're welcome. Continue, thank you, and by the way, good job. 32 00:01:57,960 --> 00:02:01,440 Speaker 1: You must have Bend Express for dinner. Let's it's you 33 00:02:01,520 --> 00:02:08,160 Speaker 1: must have stayed at the Panda Express. Oh oh, I 34 00:02:08,200 --> 00:02:11,680 Speaker 1: inherited my mom's bug. Imagine rip driving a bug. I'm 35 00:02:11,720 --> 00:02:14,320 Speaker 1: kind of trying to figure that with that. So here 36 00:02:14,360 --> 00:02:20,320 Speaker 1: we go. Six zero eight five. Michael, I am confused, 37 00:02:20,639 --> 00:02:23,960 Speaker 1: but not new around here. Are you implying that if 38 00:02:23,960 --> 00:02:26,919 Speaker 1: you're new around here around here, you're going to be confused? Yeah? 39 00:02:27,120 --> 00:02:31,520 Speaker 1: I would probably buy that. It sounds like declaring yourself 40 00:02:31,560 --> 00:02:35,080 Speaker 1: a sanctuary state or city means you don't have to 41 00:02:35,120 --> 00:02:39,359 Speaker 1: follow the law. If that's true, then why does Ice 42 00:02:39,560 --> 00:02:42,600 Speaker 1: or anyone else have to follow the law. Maybe I 43 00:02:42,680 --> 00:02:46,160 Speaker 1: misunderstood you, but it sounded like that's what you were saying, 44 00:02:46,600 --> 00:02:50,000 Speaker 1: Guber sixty zero eight five. I know you're a Guber 45 00:02:50,000 --> 00:02:51,720 Speaker 1: eight sixty year eight five. You. I can see your 46 00:02:51,720 --> 00:02:54,520 Speaker 1: phone number here. I don't know how you got that 47 00:02:54,639 --> 00:02:59,720 Speaker 1: at all. I treated. I'm also I'm always fascinated by 48 00:03:00,480 --> 00:03:02,960 Speaker 1: what I hear in my head and what I hear 49 00:03:03,000 --> 00:03:05,480 Speaker 1: coming out of my mouth, but I never hear what's 50 00:03:05,520 --> 00:03:11,200 Speaker 1: going in your ears. So pardon me for pardon my French. 51 00:03:12,880 --> 00:03:17,480 Speaker 1: Let's break that down a little bit. Declaring yourself a 52 00:03:17,520 --> 00:03:23,000 Speaker 1: sanctuary state like Colorado has, or a sanctuary city like 53 00:03:23,200 --> 00:03:29,200 Speaker 1: Denver has, says to the rest of the world, we're 54 00:03:29,240 --> 00:03:31,839 Speaker 1: not going to follow immigration law and we're not going 55 00:03:31,880 --> 00:03:35,880 Speaker 1: to cooperate with immigrations and Customs enforcement. In fact, even 56 00:03:36,000 --> 00:03:40,560 Speaker 1: though federal law prohibits the use of public monies to 57 00:03:41,000 --> 00:03:47,520 Speaker 1: provide welfare like you know, housing, transportation, telephones, healthcare, whatever, 58 00:03:47,800 --> 00:03:52,840 Speaker 1: to illegal aliens, these sanctuary cities and states do it. Now. 59 00:03:53,440 --> 00:03:58,080 Speaker 1: That does not mean that it's okay or justified or legal. 60 00:03:58,560 --> 00:04:02,360 Speaker 1: It simply means that Congress and in fact, in this 61 00:04:02,480 --> 00:04:07,040 Speaker 1: last Spending Bill, in the last Spending Bill, where Mike Johnston, 62 00:04:07,160 --> 00:04:09,600 Speaker 1: the Speaker of the House came out and beat his chest. 63 00:04:10,320 --> 00:04:12,360 Speaker 1: Can you hear me beating my chest? Oh? He was 64 00:04:12,400 --> 00:04:15,440 Speaker 1: so excited because we got a bill up. We actually 65 00:04:15,440 --> 00:04:17,559 Speaker 1: did something that Congress hasn't done in a long time. 66 00:04:17,720 --> 00:04:20,080 Speaker 1: We passed a spending bill on regular order. And blah 67 00:04:20,080 --> 00:04:23,080 Speaker 1: blah blah, blah blah, and he's singing Halleluiah. Courses. If 68 00:04:23,080 --> 00:04:27,760 Speaker 1: we should all gene reflect and say, oh, Almighty speaker, congratulations, 69 00:04:27,800 --> 00:04:30,400 Speaker 1: you're such a wonderful person. You know what they did. 70 00:04:32,240 --> 00:04:38,800 Speaker 1: Republicans voted to continue to provide federal funds to sanctuary 71 00:04:38,839 --> 00:04:43,200 Speaker 1: cities and sanctuary states. That is not what I voted for. 72 00:04:44,240 --> 00:04:47,880 Speaker 1: I voted for Republicans that when a city or a state, 73 00:04:48,600 --> 00:04:53,960 Speaker 1: Denver or Colorado, refuses to follow federal immigration law, then 74 00:04:54,120 --> 00:04:58,120 Speaker 1: all funding that is provided to the state for whatever 75 00:04:58,160 --> 00:05:03,440 Speaker 1: services they get medicare, medicaid, uh, homeless programs, whatever, and 76 00:05:03,480 --> 00:05:08,480 Speaker 1: they divert that or they include illegal aliens in that, 77 00:05:08,480 --> 00:05:10,320 Speaker 1: that's a violation of federal law and they should not 78 00:05:10,320 --> 00:05:15,880 Speaker 1: get any money. The Republicans did it, They joined Democrats 79 00:05:15,920 --> 00:05:18,440 Speaker 1: and they did it. So if you hear any crap 80 00:05:18,520 --> 00:05:22,120 Speaker 1: whatsoever about this spending bill, and what a great job Republicans, 81 00:05:22,120 --> 00:05:24,080 Speaker 1: Did you tell them to bite your ass because it's 82 00:05:24,080 --> 00:05:26,720 Speaker 1: not a good deal. It's a bad deal. Was one 83 00:05:26,720 --> 00:05:29,280 Speaker 1: point some trillion dollars, and some of that is going 84 00:05:29,320 --> 00:05:32,960 Speaker 1: to go to places like Denver and Colorado and Minnesota 85 00:05:33,040 --> 00:05:35,920 Speaker 1: and California and New York and the Illinois and all 86 00:05:35,920 --> 00:05:41,080 Speaker 1: these places where they're violating law, and the easiest way 87 00:05:41,120 --> 00:05:44,279 Speaker 1: to counter that is to cut them off. Just cut 88 00:05:44,320 --> 00:05:48,080 Speaker 1: them off. If your kid, if you were giving your 89 00:05:48,120 --> 00:05:51,360 Speaker 1: kid allowance and he was buying methamphetamines with it, when 90 00:05:51,400 --> 00:05:53,840 Speaker 1: you cut it off, you wouldn't send it, you wouldn't 91 00:05:53,839 --> 00:05:57,080 Speaker 1: give you any more money. Well, that's what Jared Polis 92 00:05:57,080 --> 00:05:59,480 Speaker 1: and Mike Johnson are doing in Colorado. That's what Tim 93 00:05:59,520 --> 00:06:01,920 Speaker 1: Wallas is doing in Minnesota. That's what Gavin Newsom is 94 00:06:01,960 --> 00:06:07,800 Speaker 1: doing in uh California. That's what JB. But Pritzker is 95 00:06:07,839 --> 00:06:12,760 Speaker 1: doing in Illinois. That's what Kathy Holkle was doing in 96 00:06:12,760 --> 00:06:19,680 Speaker 1: in New York. Cut them off. Now, to your point, 97 00:06:20,720 --> 00:06:23,280 Speaker 1: if that's true, then why does Ice or anyone else 98 00:06:23,360 --> 00:06:25,760 Speaker 1: have to follow the law? Are you freaking kidding me? 99 00:06:27,920 --> 00:06:28,000 Speaker 3: So? 100 00:06:28,160 --> 00:06:35,559 Speaker 1: Because we have lawbreakers, Because let's say some people don't 101 00:06:35,560 --> 00:06:38,960 Speaker 1: file their income taxes. They refuse to file the income tax, 102 00:06:39,279 --> 00:06:42,400 Speaker 1: so they're breaking the law and sometimes they might get 103 00:06:42,440 --> 00:06:46,039 Speaker 1: by with it. Is that justification for me to break 104 00:06:46,080 --> 00:06:50,919 Speaker 1: the law? Or if if people there there are times 105 00:06:51,000 --> 00:06:56,280 Speaker 1: when now I'm speaking figurative, figuratively, not literally, but there's 106 00:06:56,279 --> 00:06:59,960 Speaker 1: sometimes when people say or do things where of like 107 00:07:00,200 --> 00:07:03,239 Speaker 1: just knock the crap out of them. Now, it doesn't 108 00:07:03,240 --> 00:07:05,480 Speaker 1: mean I really want to go, you know, because usually 109 00:07:05,480 --> 00:07:07,680 Speaker 1: they're bigger and tougher than me. But I'm not going 110 00:07:07,760 --> 00:07:09,479 Speaker 1: to go out and punch them in the face. But 111 00:07:10,040 --> 00:07:12,400 Speaker 1: there are times when I feel like it. I just want, 112 00:07:13,120 --> 00:07:15,600 Speaker 1: I want to slap the stupid out of you. But 113 00:07:15,680 --> 00:07:18,720 Speaker 1: I don't do that. But if they're breaking the law, 114 00:07:19,000 --> 00:07:21,040 Speaker 1: that doesn't give me the right to go break the law. 115 00:07:22,400 --> 00:07:27,640 Speaker 1: I don't. I don't really know where that logic comes from, 116 00:07:29,200 --> 00:07:33,600 Speaker 1: because that's how you get to anarchy. And we're already 117 00:07:33,640 --> 00:07:36,240 Speaker 1: on the road to hell in this country anyway. And 118 00:07:36,280 --> 00:07:38,680 Speaker 1: if we have citizens, we have people who listen to 119 00:07:38,720 --> 00:07:41,080 Speaker 1: this program and say, now you think that's why I'm 120 00:07:41,400 --> 00:07:44,920 Speaker 1: that I'm advocating I get the cotton out of your ears, 121 00:07:46,320 --> 00:07:50,400 Speaker 1: get the get the math or whatever it is in 122 00:07:50,440 --> 00:07:54,880 Speaker 1: your brain out of your system. Come on, not at all. 123 00:07:56,360 --> 00:07:58,440 Speaker 1: And by the way, I would just say, I'm just 124 00:07:58,480 --> 00:08:01,880 Speaker 1: scrolling to the text messages. Why would I call my 125 00:08:02,040 --> 00:08:06,640 Speaker 1: wife's vehicle a crossover utility? What I can call it 126 00:08:06,840 --> 00:08:12,560 Speaker 1: a trans suv? What? What do you think is more descriptive? 127 00:08:13,240 --> 00:08:18,360 Speaker 1: If if I told you know? But then maybe another 128 00:08:18,360 --> 00:08:21,160 Speaker 1: smartness like I am. But if I were trying to 129 00:08:21,200 --> 00:08:24,000 Speaker 1: describe my car, my wife's car to someone and I 130 00:08:24,040 --> 00:08:27,040 Speaker 1: just said, oh, it's a crossover, how blase a is that? 131 00:08:27,960 --> 00:08:30,200 Speaker 1: But if I said, yeah, my drive, my wife drives 132 00:08:30,200 --> 00:08:33,520 Speaker 1: a car, that's a trans suv. It's transitioning, wanting to 133 00:08:33,559 --> 00:08:36,240 Speaker 1: be an suv, wanting to be something? Isn't that much 134 00:08:36,280 --> 00:08:39,400 Speaker 1: more colorful? Doesn't that? Doesn't that conduct better pictures in 135 00:08:39,480 --> 00:08:43,240 Speaker 1: your in your imagination. That's why I do stuff like that. 136 00:08:44,520 --> 00:08:49,400 Speaker 1: But I certainly don't advocate advocate ignoring the law. So 137 00:08:49,520 --> 00:08:54,439 Speaker 1: let's go. Let's talk let's talk weather. The weather apocalypse, 138 00:08:54,960 --> 00:08:59,360 Speaker 1: Oh my gosh, no weather, the apocalypse. During the January 139 00:08:59,520 --> 00:09:05,160 Speaker 1: nineteen through the twenty first cold snap, oil fired power 140 00:09:05,200 --> 00:09:11,120 Speaker 1: plants generated more electricity than natural gas plants in New 141 00:09:11,160 --> 00:09:15,640 Speaker 1: England for several hours, something that, according to the Energy 142 00:09:15,679 --> 00:09:22,480 Speaker 1: information association is relatively uncommon. Let me give you some specifics. 143 00:09:23,000 --> 00:09:28,360 Speaker 1: On January twenty between eleven am and four pm. Again 144 00:09:28,440 --> 00:09:32,360 Speaker 1: on January twenty one, from ten to one pm, oil 145 00:09:32,480 --> 00:09:39,000 Speaker 1: plants oil power plants outproduced natural gas plants. On January 146 00:09:39,040 --> 00:09:44,000 Speaker 1: twenty first, oil plants pumped out over four thousand megawatts 147 00:09:44,080 --> 00:09:49,319 Speaker 1: per hour to the grid between seven am and eleven PM. 148 00:09:49,679 --> 00:09:53,680 Speaker 1: May give you a specific example, the Merrimack coal facility 149 00:09:53,720 --> 00:09:57,120 Speaker 1: in New Hampshire that is one of only two remaining 150 00:09:57,120 --> 00:10:00,320 Speaker 1: coal plants in the region supplied close to the three 151 00:10:00,400 --> 00:10:06,040 Speaker 1: hundred megawatts continuously from the evening of January nineteen through 152 00:10:06,080 --> 00:10:12,200 Speaker 1: the morning of January twenty five. Now why did that happen, Well, 153 00:10:12,360 --> 00:10:17,840 Speaker 1: natural gas prices spiked and supplies became constrained because residential 154 00:10:17,880 --> 00:10:21,120 Speaker 1: and commercial customers were sucking up all the gas for heating. 155 00:10:21,880 --> 00:10:24,640 Speaker 1: So if everybody in their homes during this cold snap 156 00:10:24,800 --> 00:10:27,840 Speaker 1: are turning their furnaces up trying to stay warm, that's 157 00:10:28,320 --> 00:10:31,760 Speaker 1: generally going to be natural gas. So they're sucking up 158 00:10:31,840 --> 00:10:34,600 Speaker 1: all the available natural gas to heat their homes. So 159 00:10:34,720 --> 00:10:38,320 Speaker 1: now the price goes up, and so now oil the 160 00:10:38,559 --> 00:10:42,920 Speaker 1: oil comes into play. The grid operators had to fire 161 00:10:43,040 --> 00:10:46,160 Speaker 1: up all the older thermal generating plants that burn oil 162 00:10:46,200 --> 00:10:52,960 Speaker 1: and coal that quote rarely operate. So for January, overall 163 00:10:53,120 --> 00:10:56,920 Speaker 1: in New England, oil and coal together produced more than 164 00:10:57,000 --> 00:11:00,240 Speaker 1: five hundred and fourteen thousand metric tons of CO two. 165 00:11:01,000 --> 00:11:03,360 Speaker 1: Oh my gosh, we're all gonna die or maybe they'll 166 00:11:03,360 --> 00:11:07,679 Speaker 1: cause everything to warm up. That was close to, not quite, 167 00:11:07,679 --> 00:11:11,360 Speaker 1: but close to twenty percent of power system emissions. That 168 00:11:11,559 --> 00:11:14,560 Speaker 1: five hundred and fourteen thousand plus metric tons of CO 169 00:11:14,880 --> 00:11:18,760 Speaker 1: two was up from just seventy eight thousand plus metric 170 00:11:18,840 --> 00:11:23,240 Speaker 1: tons last January. That's a five hundred and fifty seven 171 00:11:23,320 --> 00:11:28,280 Speaker 1: percent increase year over year. Then, natural gas wholesale prices 172 00:11:28,559 --> 00:11:31,960 Speaker 1: up in New England averaged sixteen dollars and ninety two 173 00:11:32,000 --> 00:11:36,800 Speaker 1: cents per million BTUs in January of twenty twenty five. 174 00:11:37,400 --> 00:11:39,040 Speaker 1: That's up one hundred and twenty cent one hundred and 175 00:11:39,040 --> 00:11:42,560 Speaker 1: twenty percent from January twenty twenty four. Wholesale electric prices 176 00:11:42,640 --> 00:11:45,640 Speaker 1: jumped one hundred and twelve percent to one hundred and 177 00:11:45,679 --> 00:11:50,600 Speaker 1: thirty five dollars and eight cents per megawa hour the 178 00:11:49,480 --> 00:11:58,880 Speaker 1: e The EIAs December forecast is damning cold consumption. Oh 179 00:11:59,280 --> 00:12:05,240 Speaker 1: evil cold increased nine percent last year, driven by an 180 00:12:05,240 --> 00:12:10,480 Speaker 1: eleven percent jump in electric power coal consumption. Why what 181 00:12:10,679 --> 00:12:14,720 Speaker 1: was the reason. The cost of natural gas rose in 182 00:12:14,760 --> 00:12:19,440 Speaker 1: twenty twenty five, making coal a more economical option to 183 00:12:19,520 --> 00:12:24,200 Speaker 1: meet the increased demand in electricity. Now, I want you 184 00:12:24,200 --> 00:12:27,400 Speaker 1: to understand this is not some fringe or outlier. This 185 00:12:27,520 --> 00:12:33,000 Speaker 1: is not some unusual phenomenon. The EIA projects the coal 186 00:12:33,080 --> 00:12:38,240 Speaker 1: generation increased thirteen percent twenty twenty five across the entire 187 00:12:38,320 --> 00:12:43,719 Speaker 1: country because natural gas became relatively more expensive, and they 188 00:12:43,800 --> 00:12:48,360 Speaker 1: expect coal to decline by almost ten percent in twenty 189 00:12:48,400 --> 00:12:54,640 Speaker 1: twenty six only as electric power generation from renewable sources 190 00:12:54,960 --> 00:13:00,240 Speaker 1: actually does increase. But when you look at Texas the 191 00:13:00,280 --> 00:13:06,840 Speaker 1: cold snap, it's really fascinating. Urcott, which is the grid system, 192 00:13:06,920 --> 00:13:11,280 Speaker 1: the power system in Texas er Cot. It actually held 193 00:13:11,360 --> 00:13:13,880 Speaker 1: up pretty well during the January cold snaps. They didn't 194 00:13:13,880 --> 00:13:18,120 Speaker 1: have any blackouts, no conservation requests. But here's what you 195 00:13:18,160 --> 00:13:23,880 Speaker 1: need to understand. The grid in Texas survived because of 196 00:13:24,160 --> 00:13:30,640 Speaker 1: massive fossil fuel additions, not because but fossil fuel additions 197 00:13:31,920 --> 00:13:35,240 Speaker 1: go back to winter storm Yury. Back in twenty twenty one, 198 00:13:35,320 --> 00:13:40,600 Speaker 1: Texas added forty six thousand megawatts of new capacity. And yes, 199 00:13:41,440 --> 00:13:45,560 Speaker 1: the bulk of that new capacity in Texas came from 200 00:13:45,679 --> 00:13:53,720 Speaker 1: solar and batteries. But then Thursday morning, January twenty second, 201 00:13:54,600 --> 00:14:00,000 Speaker 1: the demand peaked at eighty thousand, six hundred twenty nine 202 00:14:00,200 --> 00:14:04,560 Speaker 1: megawatts on that Thursday morning, and that was a new 203 00:14:04,559 --> 00:14:10,040 Speaker 1: winter record. So here at that peak demand in Texas. 204 00:14:10,480 --> 00:14:14,280 Speaker 1: Here's the fuel mixed breakdown. You tell me what we 205 00:14:14,360 --> 00:14:20,240 Speaker 1: rely most on natural gas thirty nine percent. Now solar 206 00:14:20,280 --> 00:14:23,120 Speaker 1: started climbing as the sun started to come out, so 207 00:14:23,120 --> 00:14:26,560 Speaker 1: solar actually got up to thirty one percent, but coal 208 00:14:26,680 --> 00:14:31,720 Speaker 1: still accounted for fifteen percent, way behind all of that 209 00:14:31,960 --> 00:14:36,120 Speaker 1: natural solar. Coal wind came in at only seven percent, 210 00:14:37,120 --> 00:14:42,120 Speaker 1: nuclear seven percent, batteries less than one percent. Now you 211 00:14:42,120 --> 00:14:46,240 Speaker 1: think about the critical vulnerability window that's usually between four 212 00:14:46,280 --> 00:14:49,120 Speaker 1: and eight o'clock in the morning, because that's after batteries 213 00:14:49,120 --> 00:14:52,280 Speaker 1: have discharged overnight, but before the solar ramps up with 214 00:14:52,320 --> 00:14:55,480 Speaker 1: the sun coming up. During those hours on the coldest 215 00:14:55,480 --> 00:14:59,160 Speaker 1: mornings in Texas, fossil fuels carried sixty eight percent of 216 00:14:59,160 --> 00:15:01,560 Speaker 1: the load. Oh but Michael, we got to get rid 217 00:15:01,600 --> 00:15:04,480 Speaker 1: of fossil fuels. Really, when it's carrying sixty eight percent 218 00:15:04,480 --> 00:15:06,520 Speaker 1: of the load. You in Texas want to you want 219 00:15:06,520 --> 00:15:11,320 Speaker 1: to keep adding more solar and wind? Your dummies. Now, 220 00:15:11,440 --> 00:15:14,960 Speaker 1: Urkott's very own modeling shows an eighty percent chance of 221 00:15:15,040 --> 00:15:19,120 Speaker 1: morning outages throughout the rest of this month. If Texas 222 00:15:19,160 --> 00:15:24,600 Speaker 1: experienced twenty twenty one like conditions again, why would that be? 223 00:15:24,600 --> 00:15:29,680 Speaker 1: Because the risk period is precisely when solar panel solar 224 00:15:29,760 --> 00:15:36,160 Speaker 1: power is still ramping up capacity, because well, when the 225 00:15:36,200 --> 00:15:39,960 Speaker 1: sun's rising, there's not much capacity. It gets to ten o'clock, 226 00:15:40,200 --> 00:15:43,040 Speaker 1: it increases a little bit. Now it gets a little better. 227 00:15:43,280 --> 00:15:46,000 Speaker 1: Does this is assume you got a cloudless day, But 228 00:15:46,080 --> 00:15:51,760 Speaker 1: if you got a cloudy day, it plummets again. Now, California, 229 00:15:51,960 --> 00:15:53,840 Speaker 1: many of people are going to argue that California is 230 00:15:53,880 --> 00:15:56,080 Speaker 1: the exception that proves, but proves what is what I 231 00:15:56,120 --> 00:16:02,240 Speaker 1: would ask California is genuinely reducing natural as dependency. Natural 232 00:16:02,280 --> 00:16:06,080 Speaker 1: gas generation in California fell eighteen percent between twenty twenty 233 00:16:06,160 --> 00:16:10,400 Speaker 1: and twenty twenty five, and solar nearly double. But the 234 00:16:10,480 --> 00:16:15,120 Speaker 1: problem is California does not face the same heating demand 235 00:16:15,400 --> 00:16:18,040 Speaker 1: as those toll weather states like US or even up 236 00:16:18,080 --> 00:16:23,480 Speaker 1: in the Northeast. Their challenge is summer peaks, not winter freezes. 237 00:16:24,200 --> 00:16:27,920 Speaker 1: So during May and June of twenty twenty five, midday 238 00:16:27,960 --> 00:16:33,240 Speaker 1: hours peak peak usage right solar hit more than eighteen gigawatts, 239 00:16:33,360 --> 00:16:37,680 Speaker 1: up from ten gigawatts in twenty twenty, and evening battery 240 00:16:37,800 --> 00:16:42,000 Speaker 1: discharge reached four point nine gigawatts. But here's what you 241 00:16:42,040 --> 00:16:46,800 Speaker 1: need to understand. California still maintains forty five percent of 242 00:16:46,840 --> 00:16:51,120 Speaker 1: its generating capacity as natural gas. So if you reach 243 00:16:51,240 --> 00:16:56,880 Speaker 1: a peak of say the four point nine gigawatts, guess 244 00:16:56,920 --> 00:17:01,640 Speaker 1: what They still have natural gas thirty almost forty thousand 245 00:17:01,680 --> 00:17:09,200 Speaker 1: megawats precisely why because they need that natural gas for reliability. 246 00:17:09,920 --> 00:17:13,520 Speaker 1: So the physics don't lie. The wind doesn't blow harder 247 00:17:13,520 --> 00:17:17,400 Speaker 1: when it's coldness, often it's calm during arctic air masses. 248 00:17:18,119 --> 00:17:21,800 Speaker 1: Solar is useless at seven am in January when everybody's 249 00:17:21,800 --> 00:17:24,720 Speaker 1: cranking up the heat and getting ready for work. Batteries 250 00:17:24,800 --> 00:17:30,920 Speaker 1: discharge overnight in hours, not days. And then you've got 251 00:17:30,920 --> 00:17:35,359 Speaker 1: the whole dispatchable power versus intermittent power. And that's not 252 00:17:35,440 --> 00:17:42,040 Speaker 1: political spin, it's engineering reality. Every grid operator, even the 253 00:17:42,080 --> 00:17:48,160 Speaker 1: greenest grid operators, keep dispatchable power available. And what's dispatchable 254 00:17:48,200 --> 00:17:53,960 Speaker 1: power that's what you can turn on almost instantaneously, gas coal, oil, 255 00:17:54,160 --> 00:17:59,040 Speaker 1: nuclear hydro. So that's available for when demand spikes and 256 00:17:59,080 --> 00:18:03,600 Speaker 1: the renewables can deliver. And the cost signal, the price 257 00:18:03,680 --> 00:18:07,399 Speaker 1: and cost signal, that's unmistakable. When you force a color 258 00:18:07,400 --> 00:18:09,800 Speaker 1: oil plant to stay shuttered ninety nine percent of the year, 259 00:18:10,359 --> 00:18:12,560 Speaker 1: but then you suddenly and desperately fire them up during 260 00:18:12,600 --> 00:18:17,280 Speaker 1: a cold snap, you are at that point running the 261 00:18:17,320 --> 00:18:22,679 Speaker 1: most expensive, least efficient version of those power plants. So 262 00:18:23,080 --> 00:18:26,560 Speaker 1: because of that, New England's wholesale electricity prices doubled year 263 00:18:26,600 --> 00:18:30,200 Speaker 1: over year because they had to quit relying on all 264 00:18:30,200 --> 00:18:34,880 Speaker 1: the renewables. And suddenly, even though the weather man yet 265 00:18:35,920 --> 00:18:37,800 Speaker 1: get no weather man know which way the wind blows. 266 00:18:37,840 --> 00:18:39,679 Speaker 1: You get to have weather vane know which way the 267 00:18:39,680 --> 00:18:41,840 Speaker 1: wind blows. Right, So all of a sudden they get 268 00:18:41,920 --> 00:18:44,400 Speaker 1: the point, Oh here comes this Arctic front coming down. 269 00:18:44,600 --> 00:18:46,520 Speaker 1: Oh my gosh. So all the grid operator starts to 270 00:18:46,560 --> 00:18:50,920 Speaker 1: fire up all of oh the cold oil and natural 271 00:18:50,920 --> 00:18:52,679 Speaker 1: gas plants. And of course some of the new plants 272 00:18:52,680 --> 00:18:59,240 Speaker 1: to state renewable mandates are writing checks that the grid 273 00:18:59,320 --> 00:19:02,600 Speaker 1: cannot catch. So Rhode Island, for example, once one hundred 274 00:19:02,600 --> 00:19:05,720 Speaker 1: percent renewable by twenty thirty three, Vermont one hundred percent 275 00:19:05,720 --> 00:19:10,600 Speaker 1: by twenty thirty five. Meanwhile, they're closing, absolutely shutting down 276 00:19:11,000 --> 00:19:13,399 Speaker 1: the last two coal plants and they're going to convert 277 00:19:13,520 --> 00:19:17,800 Speaker 1: those to solar and battery storage. So just let me 278 00:19:17,880 --> 00:19:21,960 Speaker 1: state that when the next polar vortex hits and oil 279 00:19:22,000 --> 00:19:24,879 Speaker 1: plants can't pick up the slat because they've been decommissioned, 280 00:19:25,359 --> 00:19:30,360 Speaker 1: what's their plan and what's going to happen when those people, oh, 281 00:19:30,760 --> 00:19:34,040 Speaker 1: let me go turn the heater on and either there's 282 00:19:34,080 --> 00:19:37,679 Speaker 1: no natural gas or no coal or no oil or 283 00:19:37,720 --> 00:19:40,480 Speaker 1: if there is any of that the price for it, 284 00:19:40,880 --> 00:19:45,160 Speaker 1: because you suddenly surge the demand and then you're gonna 285 00:19:45,160 --> 00:19:48,080 Speaker 1: get your bill the following month, and based on the 286 00:19:48,119 --> 00:19:52,440 Speaker 1: price the grid operator paid for that, now higher price 287 00:19:52,640 --> 00:19:55,480 Speaker 1: natural gas coller oil is going to hit your bill 288 00:19:56,160 --> 00:19:57,399 Speaker 1: and you're gonna scream about it. 289 00:19:58,080 --> 00:20:00,960 Speaker 3: I'm sure this is just one of those cool incidences. 290 00:20:01,000 --> 00:20:07,080 Speaker 3: In Congress. Last month's Representative Kevin Hearn sold up to 291 00:20:07,320 --> 00:20:11,359 Speaker 3: half a million dollars worth of United health stock. The 292 00:20:11,400 --> 00:20:17,200 Speaker 3: Trump administration just proposed flat Medicare reimbursement rates for insurers, 293 00:20:17,240 --> 00:20:21,160 Speaker 3: causing United Healthcare to crash over ten percent. 294 00:20:22,240 --> 00:20:31,360 Speaker 1: Interesting insider trading. You say interesting, I say insider trading. 295 00:20:32,720 --> 00:20:36,320 Speaker 1: Let's go back to the whole renewables, because it's not 296 00:20:36,440 --> 00:20:43,640 Speaker 1: just the power grid, it's also evs. I never really 297 00:20:43,720 --> 00:20:47,280 Speaker 1: quite understood the whole thing about EV's and how quiet 298 00:20:47,320 --> 00:20:54,720 Speaker 1: they are until the other day. I'm crossing the street 299 00:20:54,760 --> 00:20:59,440 Speaker 1: at a crosswalk with flashing lights that the Lienburger's over 300 00:20:59,520 --> 00:21:02,719 Speaker 1: for a walk, and an EV almost hits me. I 301 00:21:02,760 --> 00:21:05,959 Speaker 1: never heard it coming or anything. Now branded I looked, 302 00:21:06,040 --> 00:21:08,840 Speaker 1: but it's a really odd place. There's a curve and 303 00:21:08,960 --> 00:21:11,440 Speaker 1: the light of sight isn't very good, which is why 304 00:21:11,480 --> 00:21:14,400 Speaker 1: I often use the lights even though I don't think 305 00:21:14,440 --> 00:21:17,320 Speaker 1: I see or hear any cars coming. But anyway, it 306 00:21:17,359 --> 00:21:22,120 Speaker 1: drives me crazy. What two years ago, maybe I don't remember, 307 00:21:22,920 --> 00:21:27,760 Speaker 1: but the CEO of General Motors, Mary Barra, declared that 308 00:21:28,480 --> 00:21:32,959 Speaker 1: we believe it in all electric future? What is this 309 00:21:33,080 --> 00:21:37,239 Speaker 1: all electric future? Ready to kill a what? Oh, We're 310 00:21:37,280 --> 00:21:40,440 Speaker 1: going to turn and make everything all electric. No, I 311 00:21:40,440 --> 00:21:42,480 Speaker 1: don't want to cook with electric. I don't want to 312 00:21:42,520 --> 00:21:45,040 Speaker 1: heat with electric. I want, you know, the most fuel 313 00:21:45,080 --> 00:21:49,679 Speaker 1: efficient natural gas. She went on to claim that the 314 00:21:49,800 --> 00:21:53,400 Speaker 1: challenges that her company was facing in the EV market. 315 00:21:53,640 --> 00:21:59,200 Speaker 1: We're just temporary. Just you know, speed bumps hum might 316 00:21:59,280 --> 00:22:03,760 Speaker 1: have the times changed. On January eight, GM announced, I 317 00:22:03,800 --> 00:22:05,879 Speaker 1: think we briefly talked about this at the beginning of 318 00:22:05,880 --> 00:22:09,040 Speaker 1: the year, that it would take more than a seven 319 00:22:09,119 --> 00:22:13,920 Speaker 1: billion dollar hit in charges against its earnings, of which 320 00:22:13,960 --> 00:22:18,159 Speaker 1: of the seven plus billion dollars, six billion dollars is 321 00:22:18,200 --> 00:22:22,440 Speaker 1: because of their failed EV strategy. So they filed with 322 00:22:22,480 --> 00:22:26,359 Speaker 1: the SEC and in that filing, the company also warned 323 00:22:26,720 --> 00:22:29,960 Speaker 1: that it would probably take more write downs as part 324 00:22:30,000 --> 00:22:35,160 Speaker 1: of a strategic realignment of their EV capacity. Now that 325 00:22:35,280 --> 00:22:39,680 Speaker 1: move by GM came less than a month after fictional 326 00:22:39,720 --> 00:22:42,560 Speaker 1: repair Daily Motor Company FORD announced that it was going 327 00:22:42,640 --> 00:22:45,399 Speaker 1: to take an almost twenty billion dollar write down on 328 00:22:45,480 --> 00:22:51,440 Speaker 1: its EV business. Ford racked up an unbelievable thirty five 329 00:22:51,520 --> 00:22:57,639 Speaker 1: billion dollars in losses on its EV program, which I 330 00:22:58,080 --> 00:23:02,159 Speaker 1: guess failed upward. I don't know where the shareholders. I 331 00:23:02,160 --> 00:23:06,600 Speaker 1: don't own the stocking Ford. But you you got a CEO, 332 00:23:07,160 --> 00:23:10,959 Speaker 1: and you lose some you know, now seven million dollars. Okay, 333 00:23:11,560 --> 00:23:14,760 Speaker 1: might overlook that you lose thirty five billion dollars in 334 00:23:15,080 --> 00:23:18,440 Speaker 1: one of your lines of businesses. You might think you 335 00:23:18,560 --> 00:23:26,359 Speaker 1: get kicked out the door. Global EV sales are rising, 336 00:23:27,480 --> 00:23:30,840 Speaker 1: so that's kind of interesting. If global EV sales are rising, 337 00:23:31,160 --> 00:23:36,080 Speaker 1: what's going on with GM and ford. Almost twenty one 338 00:23:36,480 --> 00:23:39,760 Speaker 1: million evs were sold last year. It's a twenty percent 339 00:23:39,800 --> 00:23:43,520 Speaker 1: increase over twenty twenty four. But when you dig into 340 00:23:43,560 --> 00:23:48,159 Speaker 1: those numbers, you suddenly find out they're actually misleading. Why 341 00:23:48,640 --> 00:23:52,760 Speaker 1: because nearly two thirds of those evs were sold not 342 00:23:52,960 --> 00:23:58,040 Speaker 1: from but in China. Of the more than twenty million 343 00:23:58,080 --> 00:24:01,679 Speaker 1: EV units sold, China account of twelve point nine million, 344 00:24:02,200 --> 00:24:06,680 Speaker 1: YEurope for four point three million. North American sales were 345 00:24:06,800 --> 00:24:10,879 Speaker 1: just one point eight million. That's nine percent of the 346 00:24:10,880 --> 00:24:16,880 Speaker 1: total global amount. So EV sales grew by just one 347 00:24:16,920 --> 00:24:20,879 Speaker 1: percent in twenty twenty five, and in Canada they dropped 348 00:24:20,880 --> 00:24:25,560 Speaker 1: by a whopping forty one percent. So the US based 349 00:24:25,680 --> 00:24:32,159 Speaker 1: peer play EV makers really hadn't allowed a year. Last year, Tesla, 350 00:24:32,200 --> 00:24:35,040 Speaker 1: which is now the world's second largest EV maker, even 351 00:24:35,040 --> 00:24:38,560 Speaker 1: saw its sales drop somewhere close somewhere between excuse me, 352 00:24:38,600 --> 00:24:42,840 Speaker 1: between nine and ten percent. CNBC's reporting that it was 353 00:24:42,880 --> 00:24:48,119 Speaker 1: a stunning reversal from Elon Rivian got hammered. Their company 354 00:24:48,160 --> 00:24:51,840 Speaker 1: developed or delivered forty two thousand plus vehicles last year. 355 00:24:52,240 --> 00:24:55,840 Speaker 1: That's an eighteen percent decline from more than fifty one 356 00:24:55,840 --> 00:24:59,640 Speaker 1: thousand units delivered the previous year. The largest drop came 357 00:24:59,640 --> 00:25:02,640 Speaker 1: in the four quarter, and that decline, of course, got 358 00:25:02,680 --> 00:25:07,320 Speaker 1: blamed on Oh do you mean taxpayers rint large are 359 00:25:07,320 --> 00:25:10,600 Speaker 1: no longer going to subsidize my purchase of Arithan, and 360 00:25:10,680 --> 00:25:13,480 Speaker 1: so Arriythan blames the expiration of the seventy five hundred 361 00:25:13,480 --> 00:25:17,440 Speaker 1: dollars tax credit at the end of September. KI is 362 00:25:17,520 --> 00:25:19,800 Speaker 1: EV sales. I didn't even know kid he made an 363 00:25:19,800 --> 00:25:26,439 Speaker 1: EV dropped by fifty percent last month. Portia. My son 364 00:25:26,480 --> 00:25:28,600 Speaker 1: in law, who's a really I mean, he's a true 365 00:25:28,640 --> 00:25:32,399 Speaker 1: car nut. So when I was looking at the new BMW, 366 00:25:32,800 --> 00:25:36,000 Speaker 1: he was trying to convince me. And don't get me wrong, 367 00:25:36,280 --> 00:25:39,200 Speaker 1: he's he's a tell of the hunt. So he's worse 368 00:25:39,240 --> 00:25:43,400 Speaker 1: than me. So I have you driven one of these? Oh? Yeah, yeah, 369 00:25:43,440 --> 00:25:46,919 Speaker 1: it's amazing, amazingly powerful. How far did you drive it? 370 00:25:47,320 --> 00:25:49,240 Speaker 1: Did you drive it up Scottsdale Road three or four 371 00:25:49,280 --> 00:25:51,200 Speaker 1: blocks and that was about it? Did you drive over 372 00:25:51,240 --> 00:25:53,159 Speaker 1: on camel Back a little bit? Did you drive Bell Road? 373 00:25:53,240 --> 00:25:54,879 Speaker 1: What'd you do? Did you take it all around the 374 00:25:56,560 --> 00:25:59,399 Speaker 1: Did you take around the circle around Phoenix? No, I 375 00:25:59,480 --> 00:26:01,600 Speaker 1: just kind of draw round street a little bit. Yeah, 376 00:26:01,680 --> 00:26:03,720 Speaker 1: I'm not buying one. He was trying to convince me 377 00:26:03,840 --> 00:26:09,240 Speaker 1: to buy an electric Porsche. Not gonna happen. In twenty 378 00:26:09,280 --> 00:26:14,400 Speaker 1: twenty two, the company declared that by this past year, 379 00:26:15,240 --> 00:26:19,160 Speaker 1: half of its sales would be either fully electric or hybrid, 380 00:26:19,800 --> 00:26:23,199 Speaker 1: and that by twenty thirty all electric cars would make 381 00:26:23,280 --> 00:26:29,600 Speaker 1: up more than eighty percent of Porsche's profits. Well, guess 382 00:26:29,680 --> 00:26:35,000 Speaker 1: what has not happened. Last October, Porsche recorded a third 383 00:26:35,080 --> 00:26:38,080 Speaker 1: quarter loss of one point one billion dollars and Porsche, 384 00:26:39,119 --> 00:26:43,120 Speaker 1: they said officially the loss reflected the cost of Porsche 385 00:26:43,200 --> 00:26:50,800 Speaker 1: reworking its product portfolio to shift back to gas powered 386 00:26:50,880 --> 00:26:56,240 Speaker 1: vehicles in the face of tepid love that word, tepid 387 00:26:56,520 --> 00:26:59,760 Speaker 1: EV demand, and then they admitted that they had lost 388 00:26:59,800 --> 00:27:04,560 Speaker 1: one point nine billion dollars on their investment. The losses, 389 00:27:04,640 --> 00:27:08,200 Speaker 1: according to one news outlet, stem from projects that failed 390 00:27:08,200 --> 00:27:12,160 Speaker 1: to attract customers, particularly in the United States in China. 391 00:27:12,680 --> 00:27:16,439 Speaker 1: Sales in those markets, they report, dropped sharply, prompting the 392 00:27:16,440 --> 00:27:23,040 Speaker 1: company to halter scale back several Plan EV projects. So 393 00:27:23,119 --> 00:27:27,320 Speaker 1: we look at the Big three GM, Ford and still 394 00:27:27,359 --> 00:27:31,719 Speaker 1: otis Chrys or GBMC as US brands. And you look 395 00:27:31,760 --> 00:27:35,840 Speaker 1: at the two European giants Mercedes and VW. As for Tesla, 396 00:27:36,359 --> 00:27:38,600 Speaker 1: I know what I'm going to put that in and 397 00:27:38,760 --> 00:27:42,000 Speaker 1: for because Tesla is an Elon's Really it's kind of 398 00:27:42,000 --> 00:27:45,840 Speaker 1: interesting because Elon is really looking at at China as 399 00:27:45,920 --> 00:27:49,840 Speaker 1: an economic partner, while this country's looking at China as 400 00:27:49,880 --> 00:27:54,440 Speaker 1: a military threat. When you look at the annual losses 401 00:27:54,480 --> 00:27:58,080 Speaker 1: in billions for the third quarter of last year, both 402 00:27:58,160 --> 00:28:04,760 Speaker 1: actual and estimated, it's amazing, Ford, GMS, de lansis all 403 00:28:04,880 --> 00:28:10,680 Speaker 1: down in the double digit billions. So how much money 404 00:28:10,680 --> 00:28:12,520 Speaker 1: do the auto makers lose on EV's over the past 405 00:28:12,600 --> 00:28:17,200 Speaker 1: few years? And how many evs do they sell? Break 406 00:28:17,359 --> 00:28:22,000 Speaker 1: and got it? Break and let's do once again this 407 00:28:22,119 --> 00:28:25,560 Speaker 1: hour's chance to win that one thousand dollars next five 408 00:28:25,600 --> 00:28:30,720 Speaker 1: minutes thanks to Mercedes Bins of Littleton. That's Mercedesoflittleton dot com. 409 00:28:30,720 --> 00:28:34,600 Speaker 3: One of the companies that Nick Shirley investigated was a 410 00:28:34,720 --> 00:28:39,760 Speaker 3: Minnesota healthcare company called Advanced Nobility Incorporating. It has been 411 00:28:39,800 --> 00:28:43,600 Speaker 3: getting money from taxpayers and registered with the state for 412 00:28:43,640 --> 00:28:47,800 Speaker 3: over twenty six years. When he visited the location it 413 00:28:47,880 --> 00:28:52,640 Speaker 3: doesn't exist. So twenty six years of scanming America, there's 414 00:28:52,760 --> 00:28:53,719 Speaker 3: so much to uncover. 415 00:28:56,760 --> 00:28:59,880 Speaker 1: Yeah, there is, unfortunately, and I mean it sincerely. I 416 00:29:00,760 --> 00:29:03,320 Speaker 1: know that a lot of people don't like X or 417 00:29:03,400 --> 00:29:05,680 Speaker 1: Facebook or Instagram and idiothers, and I understand that there's 418 00:29:05,680 --> 00:29:07,480 Speaker 1: a lot of things I don't like about them either. 419 00:29:07,920 --> 00:29:12,120 Speaker 1: But if you learn to curate particularly X, Facebook is 420 00:29:12,400 --> 00:29:15,560 Speaker 1: not so much. But if you learn to curate X, 421 00:29:16,480 --> 00:29:21,920 Speaker 1: you really can learn a lot from these freelance journalists. 422 00:29:22,600 --> 00:29:27,880 Speaker 1: And most of them come with the receipts, videos or 423 00:29:28,360 --> 00:29:31,880 Speaker 1: databases and show you what's really going on. That's why 424 00:29:31,960 --> 00:29:35,000 Speaker 1: I continue to stay on X. Back to these evs, 425 00:29:35,440 --> 00:29:39,160 Speaker 1: so we have sixteen years of experience basically, and the 426 00:29:39,200 --> 00:29:41,880 Speaker 1: total losses for all these EV companies it's one hundred 427 00:29:41,920 --> 00:29:45,600 Speaker 1: and fourteen billion dollars in losses. So it seems pretty 428 00:29:45,640 --> 00:29:49,000 Speaker 1: clear to me. Then when it comes to electric vehicles, 429 00:29:49,360 --> 00:29:53,520 Speaker 1: it's idiocracy that's going on. The losses for those seven 430 00:29:53,560 --> 00:29:56,760 Speaker 1: autumn makers have totaled one hundred and fourteen billion dollars, 431 00:29:57,760 --> 00:30:00,360 Speaker 1: and the estimate is that between twenty two twenty two, 432 00:30:00,400 --> 00:30:03,120 Speaker 1: in the third quarter of last year, including those right 433 00:30:03,200 --> 00:30:07,400 Speaker 1: downs at four and GM the legacy automakers lost they 434 00:30:07,440 --> 00:30:11,280 Speaker 1: combined eighty three point six eighty four billion dollars on 435 00:30:11,360 --> 00:30:15,600 Speaker 1: their EV businesses, and Lucid and Rivian combined for losses 436 00:30:15,600 --> 00:30:19,880 Speaker 1: of about over five the over thirty billion dollars. Now, 437 00:30:19,920 --> 00:30:24,560 Speaker 1: the European automakers don't provide EV segmented data, so you 438 00:30:24,600 --> 00:30:29,920 Speaker 1: can't really make an accurate profitability assessment. But you can 439 00:30:30,200 --> 00:30:34,360 Speaker 1: estimate that the per vehicle loss for the automakers and 440 00:30:34,480 --> 00:30:37,680 Speaker 1: extrapolate that from the seven car companies that produced the 441 00:30:37,680 --> 00:30:41,200 Speaker 1: five point four million evs between twenty twenty two and 442 00:30:41,200 --> 00:30:44,200 Speaker 1: the third quarter of last year, and they incurred on 443 00:30:44,400 --> 00:30:49,240 Speaker 1: average an astonishing loss of almost twenty one thousand dollars 444 00:30:49,520 --> 00:30:52,800 Speaker 1: per vehicle sold. Now, how do you stay in business 445 00:30:52,840 --> 00:30:56,720 Speaker 1: doing that better? Yet, how do you stay as either 446 00:30:56,760 --> 00:31:00,680 Speaker 1: the product manager or the chief financial offer or the 447 00:31:00,760 --> 00:31:05,080 Speaker 1: CEO with those kinds of losses? Because again, this is 448 00:31:05,160 --> 00:31:08,520 Speaker 1: not about saving the planet, This is about ideology. This 449 00:31:08,560 --> 00:31:11,640 Speaker 1: is about theology. Actually, all of the congretes in the 450 00:31:11,680 --> 00:31:17,240 Speaker 1: Church of the Climate activists Ford, this has real world implications. 451 00:31:17,280 --> 00:31:22,240 Speaker 1: Ford cut more than fourteen hundred employees and Threw's Electric 452 00:31:22,320 --> 00:31:26,560 Speaker 1: Vehicle Center reduced their operations from down from three shifts 453 00:31:26,560 --> 00:31:29,160 Speaker 1: to one GM laid off more than thirty four hundred 454 00:31:29,160 --> 00:31:34,600 Speaker 1: workers across multiple facilities. Rhythm and loose. They've cut staff, 455 00:31:34,640 --> 00:31:40,400 Speaker 1: slowed factory plans. They've warned their investors profitability years away. 456 00:31:41,160 --> 00:31:44,680 Speaker 1: Two years ago, Volkswagen announced that it would cut thirty 457 00:31:44,800 --> 00:31:49,680 Speaker 1: five thousand jobs by twenty thirty. Then you add into 458 00:31:49,720 --> 00:31:52,440 Speaker 1: that think about Europe for a moment, and the high 459 00:31:52,440 --> 00:31:55,680 Speaker 1: cost of energy in Europe like Germany, for example, in 460 00:31:55,720 --> 00:31:59,000 Speaker 1: October last year, Mercedes launched what it was calling the 461 00:31:59,080 --> 00:32:03,200 Speaker 1: largest layoff in the company's history, some thirty thousand workers 462 00:32:03,240 --> 00:32:07,760 Speaker 1: to leave over the next five years. In April of 463 00:32:07,880 --> 00:32:10,800 Speaker 1: last year, Stillanta said it would lay off nine hundred 464 00:32:10,880 --> 00:32:15,280 Speaker 1: workers at parts factories in this country because of slowing sales. 465 00:32:15,320 --> 00:32:19,120 Speaker 1: Of course, they have throwing tariffs and stuff too. The 466 00:32:19,160 --> 00:32:22,720 Speaker 1: only really surprising thing about these losses is really how 467 00:32:22,840 --> 00:32:27,000 Speaker 1: unsurprising they are. The history of the EV is almost 468 00:32:27,040 --> 00:32:32,680 Speaker 1: a century now of failure tailgating failure. Evs have always 469 00:32:32,760 --> 00:32:38,240 Speaker 1: been a niche product, mainly bought by either wealthy households 470 00:32:38,320 --> 00:32:41,280 Speaker 1: or people that truly probably can't afford it but for 471 00:32:41,640 --> 00:32:46,840 Speaker 1: the subsidies. So we were living in an alternate reality. More 472 00:32:46,880 --> 00:32:50,200 Speaker 1: than half of all EV owners in this country earn 473 00:32:50,280 --> 00:32:53,760 Speaker 1: more than one hundred grand annually, seventy five percent earn male, 474 00:32:53,880 --> 00:32:58,280 Speaker 1: eighty seven percent are white, and back in two thousand 475 00:32:58,320 --> 00:33:00,000 Speaker 1: and nine, then I think you steal. The President of 476 00:33:00,200 --> 00:33:04,360 Speaker 1: Aldi out of America made fun of the new all 477 00:33:04,360 --> 00:33:06,600 Speaker 1: of the Chevy votes, saying no one's going to pay 478 00:33:06,640 --> 00:33:09,760 Speaker 1: fifteen thousand dollars premium for a car that competes with 479 00:33:09,800 --> 00:33:13,360 Speaker 1: a Corolla, and went on to say evs are mainly 480 00:33:13,400 --> 00:33:17,240 Speaker 1: for the intellectual elite who wants to show what enlightened 481 00:33:17,240 --> 00:33:21,640 Speaker 1: souls they are. I just burst out laughing when I 482 00:33:21,680 --> 00:33:24,800 Speaker 1: found that quote, because that really is what it's about. 483 00:33:25,720 --> 00:33:30,200 Speaker 1: It's just virtue signaling. And we're sitting here and for 484 00:33:30,760 --> 00:33:35,520 Speaker 1: years we help them pay for that. A country that's 485 00:33:35,520 --> 00:33:38,680 Speaker 1: thirty plus trillion dollars in debt, and we were paying 486 00:33:38,720 --> 00:33:42,160 Speaker 1: people to virtue signal for something that now the automakers 487 00:33:42,160 --> 00:33:44,680 Speaker 1: themselves realized, oh guess what, people, I'm gonna buy this 488 00:33:44,720 --> 00:33:48,840 Speaker 1: crap again. I don't care if you drive one at all, 489 00:33:49,640 --> 00:33:52,200 Speaker 1: just do not ever ask me to help you pay 490 00:33:52,200 --> 00:33:52,479 Speaker 1: for it.