1 00:00:00,240 --> 00:00:05,160 Speaker 1: The green transition an echo promised or a global setback. Now, 2 00:00:05,160 --> 00:00:08,880 Speaker 1: for years we've been hearing about this push to renewable everything. 3 00:00:09,039 --> 00:00:13,480 Speaker 1: We're electricfying everything, We're electrifying vehicles, electric vehicles, ebs, we're 4 00:00:13,520 --> 00:00:17,840 Speaker 1: electrifying home appliances. All the electrical generation is supposed to 5 00:00:17,880 --> 00:00:22,239 Speaker 1: come from renewable sources like solar panels and windmills, which 6 00:00:22,280 --> 00:00:25,920 Speaker 1: sounds great, right until you realize it's about as realistic 7 00:00:26,000 --> 00:00:28,680 Speaker 1: as catching eleprochan and having them lead you to a 8 00:00:28,760 --> 00:00:31,880 Speaker 1: pot of gold, which is not very likely. Now, the 9 00:00:31,960 --> 00:00:34,600 Speaker 1: reality of this was always going to be a factor. 10 00:00:34,640 --> 00:00:37,159 Speaker 1: I've said this many times until reality hits you in 11 00:00:37,240 --> 00:00:40,760 Speaker 1: the face. But now with the FED hiking rates, debt 12 00:00:40,800 --> 00:00:44,120 Speaker 1: piling high, and a recession looming, we're starting to see 13 00:00:44,120 --> 00:00:47,760 Speaker 1: the cracks everywhere in this push to renewables. The dam 14 00:00:47,840 --> 00:00:50,960 Speaker 1: is crashing, and over just the last couple of weeks, 15 00:00:51,280 --> 00:00:54,520 Speaker 1: more and more data is piling in showing just how 16 00:00:54,640 --> 00:00:58,400 Speaker 1: bad this is. So on today's show, we're going to 17 00:00:58,440 --> 00:01:02,760 Speaker 1: cover the much celebrate to green transition, held as the 18 00:01:02,840 --> 00:01:06,680 Speaker 1: earth saving grace, but under closer inspection, we're going to 19 00:01:06,760 --> 00:01:11,480 Speaker 1: see a massive amount of economic drawbacks, environmental paradoxes and 20 00:01:11,520 --> 00:01:13,600 Speaker 1: other things. We're going to see that the global push 21 00:01:13,600 --> 00:01:19,000 Speaker 1: to adopt cleaner energy solutions comes brings an underreported narrative 22 00:01:19,160 --> 00:01:24,360 Speaker 1: of failed infrastructure projects, slowed EV sales, and policies starting 23 00:01:24,360 --> 00:01:26,520 Speaker 1: to fall apart. We're going to look at why there 24 00:01:26,600 --> 00:01:29,319 Speaker 1: was this relentless drive, why there was this push, who 25 00:01:29,440 --> 00:01:32,039 Speaker 1: stands to gain the most? And we're going to look 26 00:01:32,240 --> 00:01:35,760 Speaker 1: through the interest behind the green curtain, and we're going 27 00:01:35,800 --> 00:01:39,520 Speaker 1: to give you strategies that you can use to protect yourself, 28 00:01:39,560 --> 00:01:43,880 Speaker 1: to arm yourself amidst this green chaos. Now, if you're 29 00:01:43,880 --> 00:01:45,920 Speaker 1: just tune in, you're listening to the Mark Mass Show. 30 00:01:46,400 --> 00:01:49,680 Speaker 1: We're talking always about the money and the freedom and 31 00:01:49,720 --> 00:01:52,040 Speaker 1: how we can protect those things as the world continues 32 00:01:52,080 --> 00:01:55,080 Speaker 1: to break apart. And today we are watching one of 33 00:01:55,120 --> 00:01:59,920 Speaker 1: the biggest narratives, this green curtain, like I said, falling apart. Now, 34 00:02:00,200 --> 00:02:03,960 Speaker 1: it starts with the rise and stall of electric vehicles. 35 00:02:04,640 --> 00:02:07,000 Speaker 1: Of course, you know about this the EV push. We've 36 00:02:07,000 --> 00:02:09,639 Speaker 1: been hearing about it in California. The EV push has 37 00:02:09,639 --> 00:02:12,040 Speaker 1: been big. But it's not just California. It's United States 38 00:02:12,040 --> 00:02:14,400 Speaker 1: and it's other nations that have all been pushing for 39 00:02:14,520 --> 00:02:17,640 Speaker 1: a move to electric vehicles, and not just pushing for 40 00:02:17,720 --> 00:02:20,239 Speaker 1: a move to it, but as a matter of fact, mandating. 41 00:02:20,680 --> 00:02:22,000 Speaker 1: This is the very key piece we're going to come 42 00:02:22,040 --> 00:02:26,480 Speaker 1: back to over and over throughout this segment, mandating the 43 00:02:26,680 --> 00:02:31,200 Speaker 1: switch to electric vehicles, certain goals by twenty thirty by 44 00:02:31,240 --> 00:02:35,040 Speaker 1: twenty thirty five. But the problem is the market doesn't 45 00:02:35,160 --> 00:02:38,359 Speaker 1: work like that. You can't just will things into existence. 46 00:02:38,400 --> 00:02:41,280 Speaker 1: There has to be demand, and that is exactly the 47 00:02:41,320 --> 00:02:44,640 Speaker 1: problem that we have in the EV space. There's no 48 00:02:44,919 --> 00:02:47,200 Speaker 1: demand sales or slow. As a matter of fact, Ford 49 00:02:47,280 --> 00:02:51,399 Speaker 1: said that customers in North America are unwilling to pay 50 00:02:51,400 --> 00:02:55,120 Speaker 1: a premium for the EV vehicles. So Ford's electric vehicle 51 00:02:55,160 --> 00:02:59,600 Speaker 1: push is falling apart. The company is now postponing twelve 52 00:02:59,680 --> 00:03:03,679 Speaker 1: billion dollars in electric vehicle manufacturing investment. The CFO John 53 00:03:03,720 --> 00:03:07,800 Speaker 1: Lawler said that Ford will postpone about twelve billion in 54 00:03:07,919 --> 00:03:11,840 Speaker 1: spending on manufacturing capacity for evs, including a planned second 55 00:03:11,840 --> 00:03:16,840 Speaker 1: battery plant in Kentucky. So this isn't just like things 56 00:03:16,880 --> 00:03:19,480 Speaker 1: are bad, sales are bad. This is no, no, we're 57 00:03:19,600 --> 00:03:24,000 Speaker 1: cutting spending on future production right. So these are leading 58 00:03:24,040 --> 00:03:26,120 Speaker 1: indicators that tell us where the future is going. So 59 00:03:26,280 --> 00:03:29,280 Speaker 1: either we're going to have well both probably much less 60 00:03:29,320 --> 00:03:32,360 Speaker 1: electric vehicles in the future because Ford's cutting back on 61 00:03:32,520 --> 00:03:36,320 Speaker 1: future development and we're gonna have higher prices less supply. 62 00:03:36,560 --> 00:03:40,280 Speaker 1: Now that unless the demand completely falls off the you know, 63 00:03:40,320 --> 00:03:43,680 Speaker 1: off the cliff. We saw Ford's Model EV. Their unit 64 00:03:43,760 --> 00:03:47,600 Speaker 1: lost about three point one billion through three quarters this 65 00:03:47,720 --> 00:03:50,720 Speaker 1: year in twenty twenty three. You can't just lose three 66 00:03:51,040 --> 00:03:54,720 Speaker 1: billion dollars in a year. The full year operating loss 67 00:03:54,800 --> 00:03:58,320 Speaker 1: is four and a half billion for the for Ford's 68 00:03:58,400 --> 00:04:01,480 Speaker 1: E business, the EV unit. You can't just lose four 69 00:04:01,480 --> 00:04:04,080 Speaker 1: and a half billion. It doesn't work like that. The 70 00:04:04,120 --> 00:04:06,560 Speaker 1: markets don't support that. As part of the third quarter 71 00:04:06,640 --> 00:04:09,240 Speaker 1: report we see Ford said on Thursday that it's EV 72 00:04:09,440 --> 00:04:14,000 Speaker 1: business called Ford Model E lost all this money, all right, 73 00:04:14,280 --> 00:04:17,960 Speaker 1: and it's double the loss from a year ago. Now 74 00:04:18,120 --> 00:04:21,440 Speaker 1: this is despite they had a twenty six percent increase 75 00:04:21,440 --> 00:04:24,760 Speaker 1: in revenue, but they lost double the amount that they 76 00:04:24,800 --> 00:04:27,119 Speaker 1: lost last year. And it's not just Ford. General Motors 77 00:04:27,160 --> 00:04:28,919 Speaker 1: is the same thing. In a quarter three letter to 78 00:04:28,960 --> 00:04:32,520 Speaker 1: shareholders published on Tuesday, GMCO Mary Barra said that the 79 00:04:32,520 --> 00:04:36,640 Speaker 1: automaker would be changing course. What does that mean? Changing course? 80 00:04:36,720 --> 00:04:40,279 Speaker 1: Changing course from what? Changing course from this push to 81 00:04:40,400 --> 00:04:43,400 Speaker 1: electric vehicles. They had a previous goal to build four 82 00:04:43,560 --> 00:04:46,800 Speaker 1: hundred thousand electric vehicles by mid twenty twenty four by 83 00:04:46,839 --> 00:04:50,159 Speaker 1: mid next year, and that's what they're changing direction. They're 84 00:04:50,200 --> 00:04:52,559 Speaker 1: no longer going to project to do that. They're no 85 00:04:52,600 --> 00:04:54,600 Speaker 1: longer going to try to do that because they've been 86 00:04:54,640 --> 00:04:58,120 Speaker 1: having the same setbacks as forward. They're losing massive amounts 87 00:04:58,120 --> 00:05:00,800 Speaker 1: of money and they're finding it on able or find 88 00:05:00,839 --> 00:05:03,120 Speaker 1: themselves unable to be able to meet those goals. GMS 89 00:05:03,160 --> 00:05:07,359 Speaker 1: delayed the Silverado EV for another year due to surprise surprise, 90 00:05:07,560 --> 00:05:11,599 Speaker 1: shrinking demand and engineering challenges. Some of the engineering challenges 91 00:05:11,640 --> 00:05:14,040 Speaker 1: are like how the heck do we get all the 92 00:05:14,120 --> 00:05:17,080 Speaker 1: materials that we need to build these things? They're just 93 00:05:17,120 --> 00:05:19,760 Speaker 1: not available in the world. GM says that demand is 94 00:05:19,839 --> 00:05:23,280 Speaker 1: so down, in fact, that it's diverting one thousand employees 95 00:05:23,320 --> 00:05:26,760 Speaker 1: from its Orion assembly plant in Michigan, which is currently 96 00:05:26,800 --> 00:05:31,240 Speaker 1: being retooled for EV production, to other Michigan assembly facilities. 97 00:05:31,279 --> 00:05:33,920 Speaker 1: So they're currently trying to build out the DV facilities 98 00:05:33,920 --> 00:05:35,599 Speaker 1: and now they're just going to move everyone over. And 99 00:05:35,600 --> 00:05:38,400 Speaker 1: it's not just for it, it's not just GM. Mercedes Benz. 100 00:05:38,480 --> 00:05:42,720 Speaker 1: Price of their stock fell nearly six percent because their 101 00:05:42,800 --> 00:05:46,880 Speaker 1: profits fell. Why do their profits fail the same thing. 102 00:05:47,160 --> 00:05:51,760 Speaker 1: The CFO said that brutal quote brutal EV pricing caused 103 00:05:51,760 --> 00:05:54,719 Speaker 1: their profits to fall, so we saw their shares fall. 104 00:05:54,760 --> 00:05:59,520 Speaker 1: Thursday reported lower profits, lower revenues, and highlighted pricing challenges 105 00:05:59,560 --> 00:06:04,600 Speaker 1: in the e EV space, specifically, it's a bloodbath everywhere. 106 00:06:04,640 --> 00:06:06,680 Speaker 1: He was quoted. The CFO was quota of saying, quote, 107 00:06:06,920 --> 00:06:11,559 Speaker 1: pretty brutal space. That's what he said. And the point 108 00:06:11,680 --> 00:06:13,840 Speaker 1: is is that there is no demand. And the reason 109 00:06:13,839 --> 00:06:16,320 Speaker 1: why there's no demand is nobody wants to pay these 110 00:06:16,560 --> 00:06:20,200 Speaker 1: astronomic prices. And the other problem is they just don't work. 111 00:06:20,240 --> 00:06:23,120 Speaker 1: We saw recently. I was I think the president of 112 00:06:23,160 --> 00:06:25,640 Speaker 1: Ford went on a road trip and show and the 113 00:06:25,760 --> 00:06:29,839 Speaker 1: report was like, wow, we can't really charge these things. 114 00:06:30,680 --> 00:06:32,240 Speaker 1: We're going to get back to the charging thing in 115 00:06:32,279 --> 00:06:34,320 Speaker 1: a minute, but what we can see is that these 116 00:06:34,400 --> 00:06:37,360 Speaker 1: companies are losing money left and right, left and right, 117 00:06:37,400 --> 00:06:39,520 Speaker 1: left and right. Now. Part of the reason why they've 118 00:06:39,560 --> 00:06:42,800 Speaker 1: been able to work is because of the taxpayers are 119 00:06:42,880 --> 00:06:47,040 Speaker 1: bankrolling these evs. So that means you, I don't own 120 00:06:47,040 --> 00:06:49,000 Speaker 1: an EV vehicle, well, I own a golf cart. But 121 00:06:49,000 --> 00:06:52,760 Speaker 1: I don't own an actual My main cars are combustion engine. 122 00:06:52,920 --> 00:06:55,120 Speaker 1: I don't own a v EV vehicle and you might 123 00:06:55,160 --> 00:06:59,640 Speaker 1: not either. But regardless, you're paying for it. You're paying 124 00:06:59,680 --> 00:07:02,720 Speaker 1: for it because taxpayers are the ones bailing them out. 125 00:07:03,000 --> 00:07:06,400 Speaker 1: Ford and GM, like I said, are slowing their production down, 126 00:07:06,440 --> 00:07:10,440 Speaker 1: but the governments still spend billions of dollars in incentives. 127 00:07:11,320 --> 00:07:14,960 Speaker 1: So it's the incentives that you're paying for through this. 128 00:07:15,000 --> 00:07:18,280 Speaker 1: As a matter of fact, we can see well, we're 129 00:07:18,280 --> 00:07:20,040 Speaker 1: going to talk about the incentives and how much they were. 130 00:07:20,080 --> 00:07:23,960 Speaker 1: But earlier this year, the EPA Environmental Protected Agency, part 131 00:07:24,040 --> 00:07:27,440 Speaker 1: of what's driving this, put out new rules that would 132 00:07:27,440 --> 00:07:30,800 Speaker 1: require as minis two of every three vehicles sold in 133 00:07:30,800 --> 00:07:34,360 Speaker 1: the US by twenty thirty two to be electric. But 134 00:07:34,400 --> 00:07:38,200 Speaker 1: nobody wants them. Nobody can afford them. The governments are 135 00:07:38,280 --> 00:07:40,760 Speaker 1: running out of money. We talk about we'll talk later 136 00:07:40,760 --> 00:07:42,600 Speaker 1: about some of the deficits that the government is, but 137 00:07:42,680 --> 00:07:46,800 Speaker 1: right now we're spending well, as of a last quarter, 138 00:07:46,880 --> 00:07:49,560 Speaker 1: we had to borrow an extra trillion, an extra trillion 139 00:07:49,600 --> 00:07:53,880 Speaker 1: dollars just in borrowing for the quarter. That's how upside 140 00:07:53,880 --> 00:07:56,400 Speaker 1: down the government budget is. But yet they're spending billions 141 00:07:56,480 --> 00:08:00,960 Speaker 1: of dollars to bend to change to will and do 142 00:08:01,040 --> 00:08:05,120 Speaker 1: existence both the supply chain, but more importantly, the demand curves. 143 00:08:05,720 --> 00:08:08,520 Speaker 1: They're trying to build the demand, but it's just not there. 144 00:08:08,680 --> 00:08:11,600 Speaker 1: The buy An Administration's Inflation Reduction Act, the IRA, which 145 00:08:11,640 --> 00:08:14,600 Speaker 1: is supposed to lower inflation by spending a bunch of money, 146 00:08:14,800 --> 00:08:16,880 Speaker 1: put in a seventy five hundred dollars tax credit for 147 00:08:16,920 --> 00:08:20,440 Speaker 1: the purchase of electric vehicles, but yet nobody is still 148 00:08:20,640 --> 00:08:25,040 Speaker 1: buying them. Millions of dollars, billions of dollars of incentives and 149 00:08:25,080 --> 00:08:29,360 Speaker 1: it's all falling apart now. The math is astonishing. It 150 00:08:29,560 --> 00:08:32,480 Speaker 1: just will not work. We're going to talk about that. 151 00:08:32,480 --> 00:08:33,959 Speaker 1: We're going to talk about the amount of money that 152 00:08:33,960 --> 00:08:35,440 Speaker 1: they're going to have to spend. We're going to talk 153 00:08:35,480 --> 00:08:37,280 Speaker 1: about the deficits they have, and we're going to talk 154 00:08:37,320 --> 00:08:40,360 Speaker 1: about the unrealistic numbers. I want to break down some 155 00:08:40,400 --> 00:08:41,880 Speaker 1: of these numbers for you in a minute. But if 156 00:08:41,920 --> 00:08:43,400 Speaker 1: you're just tune in you're listening to the Mark Mass 157 00:08:43,400 --> 00:08:45,800 Speaker 1: Show'll be back with more in a minute, talking about 158 00:08:46,080 --> 00:08:49,240 Speaker 1: this blow up of this renewable market. Don't go away, 159 00:08:49,320 --> 00:08:51,240 Speaker 1: We're back, all right, Welcome back. If you're just tune in, 160 00:08:51,320 --> 00:08:53,760 Speaker 1: you're listening to the Mark Mass Show. We're talking about 161 00:08:54,160 --> 00:08:58,520 Speaker 1: the demise, the failure of the renewable energy push, this 162 00:08:58,880 --> 00:09:01,840 Speaker 1: ESG narrative, and we were talking about at first this 163 00:09:01,960 --> 00:09:04,360 Speaker 1: EV vehicle and how it's just this colossal failure, not 164 00:09:04,400 --> 00:09:07,240 Speaker 1: just a costal failure, but a black hole swallowing up 165 00:09:07,280 --> 00:09:09,160 Speaker 1: billions and billions of dollars. I went through some of 166 00:09:09,160 --> 00:09:12,080 Speaker 1: the losses that we have there, but we can let's 167 00:09:12,080 --> 00:09:14,960 Speaker 1: dig into some of these numbers here. So according to 168 00:09:15,000 --> 00:09:19,439 Speaker 1: Texas Public Policy Foundation, they concluded that EV vehicles cost 169 00:09:19,559 --> 00:09:22,559 Speaker 1: tens of thousands of dollars more if not if they 170 00:09:22,679 --> 00:09:24,840 Speaker 1: or they would cost tens of thousands of dollars more 171 00:09:24,840 --> 00:09:28,360 Speaker 1: if it wasn't for the taxpayer funded incentives. Again, even 172 00:09:28,400 --> 00:09:30,840 Speaker 1: if you don't own an EV vehicle, you are paying 173 00:09:30,920 --> 00:09:33,360 Speaker 1: for it. The report said that the average model year 174 00:09:33,400 --> 00:09:37,319 Speaker 1: twenty twenty one EV would cost approximately forty eight, six 175 00:09:37,400 --> 00:09:40,760 Speaker 1: hundred and ninety eight dollars more to own over a 176 00:09:40,840 --> 00:09:45,880 Speaker 1: ten year period without the staggering twenty two billion dollars 177 00:09:45,880 --> 00:09:49,040 Speaker 1: in taxpayer funded handouts that the government provides to electric 178 00:09:49,040 --> 00:09:52,800 Speaker 1: car manufacturers. So the car which are already overpriced, so 179 00:09:53,040 --> 00:09:55,160 Speaker 1: if you look at a comparable EV vehicle to a 180 00:09:55,160 --> 00:09:59,120 Speaker 1: comparable combustion engine, the amount over the premium you're going 181 00:09:59,160 --> 00:10:00,960 Speaker 1: to pay for the EV vehicle, you will not save 182 00:10:01,000 --> 00:10:03,440 Speaker 1: that in gas. You're not going to save that in gas. 183 00:10:03,559 --> 00:10:05,240 Speaker 1: And what they're saying is if the government didn't spend 184 00:10:05,240 --> 00:10:08,720 Speaker 1: twenty two billion dollars from your taxpayer of money giving 185 00:10:08,760 --> 00:10:11,320 Speaker 1: them as handouts to these companies, it would cost an 186 00:10:11,440 --> 00:10:15,000 Speaker 1: extra forty eight thousand dollars. They're basically double or almost 187 00:10:15,280 --> 00:10:17,679 Speaker 1: more than double the cost of the car. All right, 188 00:10:17,760 --> 00:10:20,760 Speaker 1: So without your money as a taxpayer, we're not going 189 00:10:20,800 --> 00:10:22,240 Speaker 1: to have it. But how do we continue to spend 190 00:10:22,240 --> 00:10:25,400 Speaker 1: this money as a government when we're trillions of dollars 191 00:10:25,520 --> 00:10:29,920 Speaker 1: upside down in a deficit. Now we can see that 192 00:10:29,960 --> 00:10:33,480 Speaker 1: electric vehicle owners have been the beneficiaries of these regulatory credits, 193 00:10:33,600 --> 00:10:39,360 Speaker 1: subsidies things like that totally nearly fifty thousand dollars per EV, 194 00:10:39,559 --> 00:10:42,440 Speaker 1: which is pretty crazy. And so the thing that's important 195 00:10:42,480 --> 00:10:45,199 Speaker 1: to understand is that this goal is pushed to net 196 00:10:45,320 --> 00:10:49,280 Speaker 1: zero in order to get a net zero society. It 197 00:10:49,400 --> 00:10:54,440 Speaker 1: basically favors to have over the have nots. Part of 198 00:10:54,440 --> 00:10:56,400 Speaker 1: the reason why there's many reasons why the rich get 199 00:10:56,480 --> 00:10:59,640 Speaker 1: richer and the poor gate rapport, and most all of 200 00:10:59,679 --> 00:11:03,440 Speaker 1: them are because of the government. They're caused by the government. 201 00:11:04,000 --> 00:11:06,839 Speaker 1: And this is another example of this, which is this 202 00:11:06,960 --> 00:11:09,840 Speaker 1: pushing this to this zero society is going to increase 203 00:11:09,880 --> 00:11:11,880 Speaker 1: this divide between the rich and the poor, the haves 204 00:11:11,880 --> 00:11:14,280 Speaker 1: and the have nots. Because let's say like renters, if 205 00:11:14,280 --> 00:11:17,080 Speaker 1: you're a renter, you're a low income family, well, you 206 00:11:17,160 --> 00:11:19,839 Speaker 1: probably don't have a private charger to plug in your 207 00:11:19,840 --> 00:11:22,720 Speaker 1: EV and so then you have to charge at public 208 00:11:22,800 --> 00:11:26,200 Speaker 1: charging stations. But the cost to charge it at a 209 00:11:26,240 --> 00:11:29,520 Speaker 1: private charging station is anywhere from five to ten times 210 00:11:29,559 --> 00:11:31,840 Speaker 1: as much as it would be to charge from home. 211 00:11:32,520 --> 00:11:36,160 Speaker 1: So your cost would go up, your living standard would 212 00:11:36,200 --> 00:11:37,960 Speaker 1: go down. Now, let's break into some math. This is 213 00:11:38,000 --> 00:11:40,160 Speaker 1: what's amazing to me. So let's just take a look 214 00:11:40,160 --> 00:11:44,200 Speaker 1: at California. For example, in California, we have about eleven 215 00:11:44,320 --> 00:11:48,800 Speaker 1: thousand gas stations in California. All right, places this out gas. Now, 216 00:11:48,840 --> 00:11:52,200 Speaker 1: this is about one hundred and ten thousand nozzles, so 217 00:11:52,200 --> 00:11:53,920 Speaker 1: one hundred and ten thousand cars could fill up at 218 00:11:53,920 --> 00:11:56,800 Speaker 1: the same time. All right. Now, what this means is 219 00:11:56,840 --> 00:12:00,800 Speaker 1: if we need to replace all of those with charge stations. 220 00:12:01,000 --> 00:12:03,480 Speaker 1: What we would need is we need at least twenty 221 00:12:03,679 --> 00:12:09,000 Speaker 1: EV charging ports for every one gas nozzle. Okay, twenty 222 00:12:09,040 --> 00:12:11,120 Speaker 1: EV ports for everyone gas nozzle, and this would be 223 00:12:11,160 --> 00:12:13,240 Speaker 1: by twenty thirty five to hit California's goal by twenty 224 00:12:13,280 --> 00:12:16,920 Speaker 1: thirty five. Now, the cost to build a charging port 225 00:12:17,160 --> 00:12:20,240 Speaker 1: a charging station has at least four charging ports is 226 00:12:20,280 --> 00:12:23,000 Speaker 1: about a million dollars. So let's just do the math 227 00:12:23,160 --> 00:12:27,800 Speaker 1: one hundred and ten thousand nozzles times the twenty EV 228 00:12:27,960 --> 00:12:31,440 Speaker 1: ports needed per nozzle, and then we divide it by four. 229 00:12:31,480 --> 00:12:33,720 Speaker 1: Because each station has four ports and at the cost 230 00:12:33,760 --> 00:12:36,560 Speaker 1: is a million dollars, that would mean that California has 231 00:12:36,600 --> 00:12:39,920 Speaker 1: to spend five hundred and fifty five billion, more than 232 00:12:40,120 --> 00:12:44,720 Speaker 1: half a trillion dollars just to have the ability to 233 00:12:44,840 --> 00:12:47,400 Speaker 1: charge the cars that they need by twenty thirty five. 234 00:12:48,760 --> 00:12:50,520 Speaker 1: Half a trillion dollars, more than half a jillion dollars. 235 00:12:50,559 --> 00:12:53,680 Speaker 1: How does that sound. Now that's in California. California's packed. 236 00:12:53,679 --> 00:12:58,600 Speaker 1: What about more remote areas? In Wyoming? Officials hired consultants 237 00:12:58,600 --> 00:13:00,679 Speaker 1: to do a study, and they said that there's no 238 00:13:00,800 --> 00:13:03,160 Speaker 1: chance they can have chargers in their state. They said 239 00:13:03,200 --> 00:13:07,160 Speaker 1: that seven remote sites would be used so infrequently they 240 00:13:07,200 --> 00:13:11,200 Speaker 1: would lose an average of about three hundred thousand dollars 241 00:13:11,320 --> 00:13:14,520 Speaker 1: per site. Who's going to pay for that? Who's going 242 00:13:14,559 --> 00:13:16,440 Speaker 1: to pay to lose three hundred thousand dollars per site? 243 00:13:16,600 --> 00:13:18,160 Speaker 1: And then you add on top of it that the 244 00:13:18,200 --> 00:13:20,520 Speaker 1: price of electricity is going through the roof in Germany, 245 00:13:20,720 --> 00:13:24,280 Speaker 1: in the UK, in California, electricity prices are going through 246 00:13:24,320 --> 00:13:26,679 Speaker 1: the roof. And it doesn't take a genius to figure 247 00:13:26,679 --> 00:13:30,280 Speaker 1: out why they're building thousands of wind turbine solar panels, 248 00:13:30,280 --> 00:13:33,840 Speaker 1: but they can't get rid of the main power plants 249 00:13:34,040 --> 00:13:37,160 Speaker 1: because they're needed for backup. So basically, now Germany, UK 250 00:13:37,280 --> 00:13:40,640 Speaker 1: and California are paying for two power plants. They need 251 00:13:40,679 --> 00:13:43,959 Speaker 1: a duplicate system, so they want to run it off 252 00:13:44,000 --> 00:13:47,600 Speaker 1: the renewables, but they still need the main one the 253 00:13:47,600 --> 00:13:50,280 Speaker 1: fossil fuel backup at the same time, so you're paying 254 00:13:50,280 --> 00:13:53,200 Speaker 1: for two. So of course the prices are going up, 255 00:13:53,559 --> 00:13:57,959 Speaker 1: so it's just not working. It's an unsustainable path. Now, 256 00:13:58,360 --> 00:14:00,320 Speaker 1: part of this, like I said, is not just this 257 00:14:00,440 --> 00:14:04,760 Speaker 1: EV vehicle, It's about the whole push. But really I 258 00:14:04,800 --> 00:14:06,960 Speaker 1: want to go back to just one thing. The government 259 00:14:07,000 --> 00:14:10,280 Speaker 1: trying to push this narrative, and this is not the 260 00:14:10,320 --> 00:14:12,800 Speaker 1: way capitalism works. It's not the way free markets work. 261 00:14:13,120 --> 00:14:16,320 Speaker 1: The free markets work as individuals like you and I 262 00:14:16,720 --> 00:14:19,960 Speaker 1: that move in our own self interest. So when I 263 00:14:20,120 --> 00:14:22,520 Speaker 1: want something, and I want something bad enough, then I 264 00:14:22,560 --> 00:14:25,880 Speaker 1: would be compelled human action. Mysis wrote the book Human Action. 265 00:14:26,080 --> 00:14:28,880 Speaker 1: My human action would compel me to take action. You 266 00:14:28,920 --> 00:14:31,920 Speaker 1: can't push that. It has to be market driven is 267 00:14:31,920 --> 00:14:34,720 Speaker 1: from the bottom up. There's a textbook example, a marketing 268 00:14:34,760 --> 00:14:37,080 Speaker 1: flop from Ford. You would think Ford would have learned this. 269 00:14:37,600 --> 00:14:39,400 Speaker 1: And there was a time when Ford tried to launch 270 00:14:39,440 --> 00:14:41,680 Speaker 1: a new car called the Edsel. It was heralded as 271 00:14:41,720 --> 00:14:44,400 Speaker 1: the hot new car in the late nineteen fifties. All 272 00:14:44,480 --> 00:14:47,360 Speaker 1: the experts and Ford executives said, it was like it 273 00:14:47,400 --> 00:14:48,560 Speaker 1: was going to be the best car, was going to 274 00:14:48,560 --> 00:14:49,960 Speaker 1: be the biggest thing ever. They're going to sell so 275 00:14:50,040 --> 00:14:53,360 Speaker 1: many of these units. Henry Ford, the car was named 276 00:14:53,360 --> 00:14:56,720 Speaker 1: after his son, guaranteed hundreds of thousands of sales of 277 00:14:56,760 --> 00:14:59,840 Speaker 1: this new car. But there was a problem. Something went wrong. 278 00:15:00,720 --> 00:15:04,240 Speaker 1: Nobody ever bothered to ask car buyers what they thought 279 00:15:04,280 --> 00:15:06,040 Speaker 1: of the new car, and as it turned out, they 280 00:15:06,080 --> 00:15:09,720 Speaker 1: hated it. So instead of selling four hundred thousand cars. 281 00:15:09,720 --> 00:15:15,000 Speaker 1: As they projected four hundred thousand, Americans bought only ten thousand. 282 00:15:15,200 --> 00:15:18,480 Speaker 1: The model was of course discontinued. But the lesson for 283 00:15:18,520 --> 00:15:22,000 Speaker 1: the industry is you can't bribe Americans to buy cars 284 00:15:22,040 --> 00:15:25,040 Speaker 1: they don't want. You can't do that. You think they 285 00:15:25,040 --> 00:15:26,680 Speaker 1: would have learned it. You would think Detroit would have 286 00:15:26,720 --> 00:15:28,960 Speaker 1: got the message, but they haven't. We saw last week 287 00:15:28,960 --> 00:15:31,480 Speaker 1: Honda and GM announced an end to their two year 288 00:15:31,520 --> 00:15:34,480 Speaker 1: collaboration and building a platform for lower cost evs. It's 289 00:15:34,480 --> 00:15:37,440 Speaker 1: gone hanted GM. They shut it. That means they're not 290 00:15:37,440 --> 00:15:40,280 Speaker 1: going to have that future product. Amazingly, less than ten 291 00:15:40,320 --> 00:15:42,640 Speaker 1: percent of all new car sales over the last two 292 00:15:42,720 --> 00:15:46,320 Speaker 1: years or eves, despite the fact that the US government 293 00:15:46,360 --> 00:15:49,240 Speaker 1: is writing a check for seventy five hundred dollars if 294 00:15:49,240 --> 00:15:51,520 Speaker 1: you buy one, and some states are even kicking in 295 00:15:51,520 --> 00:15:55,800 Speaker 1: an extra five thousand. So even with all this push, 296 00:15:55,960 --> 00:15:58,280 Speaker 1: even with all this technology, even with all this money 297 00:15:58,320 --> 00:16:01,960 Speaker 1: back in your pocket, it still doesn't make sense and 298 00:16:02,040 --> 00:16:05,040 Speaker 1: nobody wants them. That's the problem. And the news is 299 00:16:05,040 --> 00:16:07,400 Speaker 1: even worse for wind in solar power. We'll get to that. 300 00:16:07,440 --> 00:16:08,880 Speaker 1: The wind and solar power is even worse. The Wall 301 00:16:08,880 --> 00:16:12,120 Speaker 1: Street Journal reported last week that clean energy investment funds 302 00:16:12,400 --> 00:16:15,360 Speaker 1: are tanking. So the funds that you put your money 303 00:16:15,400 --> 00:16:18,240 Speaker 1: into to invest to grow, and they're investing into these 304 00:16:18,600 --> 00:16:21,800 Speaker 1: cleaninity projects, when in Solar they're tanking. As a matter 305 00:16:21,800 --> 00:16:24,360 Speaker 1: of fact, summerre down as much as seventy percent in 306 00:16:24,440 --> 00:16:27,840 Speaker 1: recent months. Solar has been one of the worst performing 307 00:16:27,960 --> 00:16:31,960 Speaker 1: industry stocks this year, and of course it is because 308 00:16:32,000 --> 00:16:34,360 Speaker 1: it doesn't work. It takes too much money, and there's 309 00:16:34,360 --> 00:16:38,320 Speaker 1: no return on capital. Investments are very simple investments. Don't 310 00:16:38,320 --> 00:16:42,000 Speaker 1: care about your feelings. They don't care about emotions, they 311 00:16:42,000 --> 00:16:45,440 Speaker 1: don't care about judgment. They're not spent, they're not you know, 312 00:16:45,480 --> 00:16:49,320 Speaker 1: it's not up to someone to decide. It's it's numbers. 313 00:16:49,360 --> 00:16:52,160 Speaker 1: It's math. So I put a dollar in, how many 314 00:16:52,160 --> 00:16:54,200 Speaker 1: dollars do I get back? Or how many dollars do 315 00:16:54,240 --> 00:16:56,640 Speaker 1: I lose? It's simple math. And what we can see 316 00:16:56,680 --> 00:16:58,760 Speaker 1: is that Solar is down seventy percent, one of the 317 00:16:58,760 --> 00:17:03,320 Speaker 1: worst performing stocks industries stocks in the industry. Now, we're 318 00:17:03,320 --> 00:17:04,880 Speaker 1: gonna come back in a minute and we're gonna break 319 00:17:04,880 --> 00:17:07,240 Speaker 1: down some bigger math. We'll show you what was behind 320 00:17:07,320 --> 00:17:10,239 Speaker 1: this big push, what narrative is starting to shift right 321 00:17:10,280 --> 00:17:11,680 Speaker 1: now and so much more. If you're just tuning in, 322 00:17:11,720 --> 00:17:14,240 Speaker 1: you're listening to the Mark Ma Show, we're talking about 323 00:17:14,800 --> 00:17:18,720 Speaker 1: the green curtain coming down, what's behind it, and ultimately 324 00:17:18,760 --> 00:17:21,280 Speaker 1: what you can do to protect yourself. As this all 325 00:17:21,320 --> 00:17:23,479 Speaker 1: moved forward, I got a whole lot more to cover. 326 00:17:23,520 --> 00:17:25,000 Speaker 1: I'm gonna go through it pretty quickly. You don't want 327 00:17:25,000 --> 00:17:27,200 Speaker 1: to miss this, so don't go away. I'll be right back. 328 00:17:27,240 --> 00:17:28,720 Speaker 1: All right, welcome back. If you're just tuning in, you're 329 00:17:28,720 --> 00:17:30,840 Speaker 1: listening to the Mark Mass Show, we're talking about the 330 00:17:30,960 --> 00:17:34,800 Speaker 1: green curtain. We're talking about the colossal collapse of the 331 00:17:34,840 --> 00:17:38,360 Speaker 1: EV and the renewable space. We're running through all this now. 332 00:17:38,400 --> 00:17:40,720 Speaker 1: If you missed any of this, you should go listen 333 00:17:40,720 --> 00:17:43,000 Speaker 1: to it. Check it out on the podcast. It's all archive. 334 00:17:43,080 --> 00:17:45,399 Speaker 1: Just searched the Mark Mass Show on your favorite podcast player, 335 00:17:45,560 --> 00:17:48,800 Speaker 1: or you can go onto YouTube to market Disruptors and 336 00:17:48,920 --> 00:17:50,560 Speaker 1: you can watch it and listen to it at the 337 00:17:50,600 --> 00:17:53,560 Speaker 1: same time. Now we're talking about how the EV space 338 00:17:53,920 --> 00:17:56,840 Speaker 1: and the solar space and just investing in renewables is 339 00:17:56,880 --> 00:18:00,280 Speaker 1: collapsing and we're starting to see this massive shift at 340 00:18:00,280 --> 00:18:01,919 Speaker 1: the same time. So what am I talking about, Well, 341 00:18:01,920 --> 00:18:06,600 Speaker 1: we saw Exon and Chevron old school fossil fuel industries 342 00:18:07,080 --> 00:18:09,840 Speaker 1: are actually growing. As a matter of fact, Exon and 343 00:18:09,920 --> 00:18:14,919 Speaker 1: Chevron engineered one hundred and ten billion dollar blockbuster acquisition 344 00:18:15,000 --> 00:18:18,560 Speaker 1: to expand oil and gas drilling in the Premium Basin 345 00:18:18,600 --> 00:18:21,440 Speaker 1: in Texas, one of the biggest oil fields in the world. Now, 346 00:18:21,560 --> 00:18:25,400 Speaker 1: this is happening despite the three hundred and seventy billion 347 00:18:25,440 --> 00:18:28,760 Speaker 1: dollars green energy slush fund that's out there for him. 348 00:18:29,240 --> 00:18:31,240 Speaker 1: So even though there's all this money, even though the 349 00:18:31,280 --> 00:18:33,760 Speaker 1: government's trying to push this, even though there's all these incentives, 350 00:18:34,359 --> 00:18:37,400 Speaker 1: they're still investing heavily into oil and gas. And as 351 00:18:37,440 --> 00:18:42,240 Speaker 1: this is happening, we're watching all the investments into renewables collapsing. 352 00:18:42,600 --> 00:18:46,480 Speaker 1: We saw this week world's largest offshore wind farm developer 353 00:18:46,640 --> 00:18:52,359 Speaker 1: abandons two major US projects as the renewable bust erupts now. 354 00:18:54,520 --> 00:18:56,840 Speaker 1: Anyone that thought that offshore wind farms was a good 355 00:18:56,840 --> 00:19:00,400 Speaker 1: idea needs to probably revisit their elementary math. We'll run 356 00:19:00,400 --> 00:19:01,879 Speaker 1: through some of that, but what we can see is 357 00:19:01,880 --> 00:19:03,960 Speaker 1: that President Biden and the Bide administration has been pushing 358 00:19:04,000 --> 00:19:08,160 Speaker 1: this wind revolution, and now it's blowing down. It's falling down. 359 00:19:08,280 --> 00:19:12,840 Speaker 1: The world's largest offshore wind developer is abandoned them. And 360 00:19:12,840 --> 00:19:15,440 Speaker 1: it's not just them, Lots of these projects are being 361 00:19:15,440 --> 00:19:21,080 Speaker 1: abandoned everywhere because they're losing massive amounts of money. Again, 362 00:19:21,400 --> 00:19:23,840 Speaker 1: investments don't care about any of these narratives. They care 363 00:19:23,840 --> 00:19:25,640 Speaker 1: about do I get a dollar and a dollar out. 364 00:19:25,840 --> 00:19:28,280 Speaker 1: You can't just go light money on fire, even if 365 00:19:28,320 --> 00:19:31,159 Speaker 1: it's the government which doesn't have any money. Well, the 366 00:19:31,200 --> 00:19:34,120 Speaker 1: government never has any money. The government cannot give something 367 00:19:34,240 --> 00:19:37,399 Speaker 1: it has not taken. The government can only take money 368 00:19:37,440 --> 00:19:39,680 Speaker 1: from you to give to somebody else. And they're literally 369 00:19:39,720 --> 00:19:43,320 Speaker 1: taking Urini money, our tax payer money and lighting it 370 00:19:43,440 --> 00:19:46,399 Speaker 1: on fire giving it to these companies who are losing 371 00:19:46,440 --> 00:19:49,879 Speaker 1: it all. Now, those companies, the founders, the owners, people 372 00:19:49,920 --> 00:19:52,159 Speaker 1: working at the company, they're getting fabulously rich and the 373 00:19:52,160 --> 00:19:53,719 Speaker 1: company burns down and we end up with nothing. As 374 00:19:53,720 --> 00:19:57,959 Speaker 1: a matter of fact, we saw win this wind farm company. 375 00:19:59,000 --> 00:20:01,600 Speaker 1: They said that off New Jersey, they had two projects, 376 00:20:01,600 --> 00:20:05,080 Speaker 1: Ocean Wind one and two, and they lost. Total impairments 377 00:20:05,119 --> 00:20:08,200 Speaker 1: recognized in the interim financial report for the first nine 378 00:20:08,400 --> 00:20:13,760 Speaker 1: months of twenty twenty three amount to twenty eight billion dollars. 379 00:20:14,600 --> 00:20:17,240 Speaker 1: Twenty eight billion dollars. How the heck are they going 380 00:20:17,280 --> 00:20:20,200 Speaker 1: to afford that? That was your tax money, my tax 381 00:20:20,240 --> 00:20:22,800 Speaker 1: money that went to them. Again, the owner's probably got 382 00:20:22,840 --> 00:20:24,760 Speaker 1: new houses and new cars, and they'd probably did really good. 383 00:20:25,320 --> 00:20:28,080 Speaker 1: And the twenty eight billion dollars is up in smoke. 384 00:20:28,480 --> 00:20:31,240 Speaker 1: And we don't have the wind farms. We have nothing 385 00:20:31,520 --> 00:20:34,960 Speaker 1: all right now. It's not just them, It's happening all 386 00:20:35,040 --> 00:20:36,960 Speaker 1: over the place. As a matter of fact, we saw 387 00:20:37,320 --> 00:20:42,280 Speaker 1: Siemens Energy in Germany crashed after the company warned its 388 00:20:42,280 --> 00:20:45,640 Speaker 1: wind turbine business is grappling with quality issues and offshore 389 00:20:45,840 --> 00:20:49,800 Speaker 1: ramp up challenges, challenges in like, wow, it's really difficult 390 00:20:49,800 --> 00:20:51,199 Speaker 1: to go out into the middle of the ocean in 391 00:20:51,240 --> 00:20:53,360 Speaker 1: a stormy sea and tie up next to these things 392 00:20:53,359 --> 00:20:55,920 Speaker 1: and fix them. Hm. Who would have thought that? Never 393 00:20:55,920 --> 00:20:58,359 Speaker 1: could have imagined things like that. In the solar industry, 394 00:20:58,359 --> 00:21:01,640 Speaker 1: we saw a company called Solar Edge Technology shares plunged 395 00:21:02,240 --> 00:21:05,520 Speaker 1: two weeks ago after it was warned about sliding European demand. 396 00:21:06,160 --> 00:21:11,159 Speaker 1: Nobody wants it again. You can't bend the will of 397 00:21:11,200 --> 00:21:14,440 Speaker 1: a market, all right. It has to come from they 398 00:21:14,560 --> 00:21:17,359 Speaker 1: want it right, our own self interest. We see President 399 00:21:17,400 --> 00:21:19,679 Speaker 1: Joe Biden in twenty twenty one laid out a target 400 00:21:19,720 --> 00:21:23,919 Speaker 1: of deploying thirty gigawatts of offshore wind capacity during the 401 00:21:23,960 --> 00:21:28,520 Speaker 1: next nine years. This was bold, it was ambitious. That's 402 00:21:28,520 --> 00:21:31,200 Speaker 1: what people said. I said, it was ludicrous. It would 403 00:21:31,200 --> 00:21:34,400 Speaker 1: never work, and that's where we're looking like we're at 404 00:21:34,400 --> 00:21:38,200 Speaker 1: two years later. The industry has another word for it, impossible. 405 00:21:38,680 --> 00:21:41,720 Speaker 1: The uf offshore wind industry's twenty thirty generation goal now 406 00:21:41,760 --> 00:21:45,840 Speaker 1: looks further away than it ever has. It looks further 407 00:21:45,880 --> 00:21:47,840 Speaker 1: away because now that we've actually started trying to build it, 408 00:21:47,880 --> 00:21:50,720 Speaker 1: we realized, oh shoot, all these projections that we thought 409 00:21:50,800 --> 00:21:55,080 Speaker 1: were there actually aren't true. And it continues to get worse. 410 00:21:55,320 --> 00:21:57,360 Speaker 1: We can see that. The industry suffered another blow last 411 00:21:57,359 --> 00:22:01,480 Speaker 1: week after New York forcially rejected developers police for higher rates. 412 00:22:01,800 --> 00:22:04,680 Speaker 1: So a New York developer said, hey, we can't continue 413 00:22:04,680 --> 00:22:07,560 Speaker 1: building these things unless we can jack up the rates 414 00:22:07,600 --> 00:22:11,240 Speaker 1: of electricity. Remember back to the have and the have nots, 415 00:22:11,240 --> 00:22:14,719 Speaker 1: the rich and the poor. As electricity prices go higher, 416 00:22:14,960 --> 00:22:17,480 Speaker 1: guess what happens to the poor? The poor fall for 417 00:22:17,560 --> 00:22:20,399 Speaker 1: their behind. Now the government can subsidize that with our 418 00:22:20,480 --> 00:22:23,280 Speaker 1: tax money. At the end of the day, money doesn't 419 00:22:23,359 --> 00:22:25,200 Speaker 1: just come from nowhere. So it can come from tax 420 00:22:25,200 --> 00:22:27,359 Speaker 1: money to go to them, but it continues to drive 421 00:22:27,440 --> 00:22:31,159 Speaker 1: that gap in the rich and the poor. So New 422 00:22:31,240 --> 00:22:32,760 Speaker 1: York says, no, we're not going to raise the rates, 423 00:22:32,760 --> 00:22:34,480 Speaker 1: and so the developer says, well, then I guess we 424 00:22:34,600 --> 00:22:38,000 Speaker 1: can't continue to build. We can see in total developers 425 00:22:38,000 --> 00:22:41,400 Speaker 1: building about nine gigawatts of capacity for five East Coast 426 00:22:41,400 --> 00:22:45,159 Speaker 1: states have bailed out of their deals. And not just 427 00:22:45,320 --> 00:22:47,639 Speaker 1: bailed out, they've paid the get out. So what am 428 00:22:47,680 --> 00:22:51,000 Speaker 1: I talking about. In July, Avon Grid agreed to pay 429 00:22:51,280 --> 00:22:54,520 Speaker 1: forty eight million dollars in fines to get out of 430 00:22:54,520 --> 00:22:57,879 Speaker 1: its deal to supply power to three utilities. So they 431 00:22:57,880 --> 00:23:00,639 Speaker 1: didn't just walk away. They actually paid forty eight million 432 00:23:00,680 --> 00:23:02,879 Speaker 1: dollars in fines to get out of the deal. The 433 00:23:02,920 --> 00:23:05,800 Speaker 1: next month, a shell unit and its joint venture partners 434 00:23:05,840 --> 00:23:09,320 Speaker 1: agreed to pay more than sixty million to exit third deals. Hey, 435 00:23:09,560 --> 00:23:12,359 Speaker 1: we'll just give you this sixty million. We can't do this. Sorry, 436 00:23:12,720 --> 00:23:16,640 Speaker 1: here here's here's money. That's a big deal. Havn't Gread 437 00:23:16,680 --> 00:23:18,959 Speaker 1: agreed to pay sixteen million to terminate contracts for its 438 00:23:19,000 --> 00:23:21,600 Speaker 1: Park City project near Connecticut. We can go on and 439 00:23:21,640 --> 00:23:25,840 Speaker 1: on and on. Companies that aren't walking away. They're seeing 440 00:23:26,160 --> 00:23:28,919 Speaker 1: massive losses, massive rite down to ever. Source reported a 441 00:23:28,920 --> 00:23:32,520 Speaker 1: three hundred and thirty one million dollar tax environment charge 442 00:23:33,359 --> 00:23:35,880 Speaker 1: for the second quarter. Three hundred and thirty one million 443 00:23:35,960 --> 00:23:39,000 Speaker 1: for a second quarter. It's offshore wind operation ORSTEAD announced 444 00:23:39,000 --> 00:23:41,480 Speaker 1: a potential two point three billion dollar charge on a 445 00:23:41,520 --> 00:23:45,600 Speaker 1: JUX portfolio. Oh man, it's just getting bad. It's it 446 00:23:45,680 --> 00:23:47,920 Speaker 1: is all falling apart. And like I said, started out 447 00:23:47,960 --> 00:23:51,120 Speaker 1: by as rates started going up, as the economy started 448 00:23:51,119 --> 00:23:54,239 Speaker 1: to suffer. All these projects are exposed for what they are. 449 00:23:54,280 --> 00:23:57,520 Speaker 1: Now that's on the supply side, that's on the the 450 00:23:57,560 --> 00:24:01,360 Speaker 1: win the solar. But there's another market that even more insiduous, 451 00:24:01,440 --> 00:24:05,200 Speaker 1: it's even more corrupt, and this is the carbon offset market. 452 00:24:05,560 --> 00:24:07,120 Speaker 1: Now I've been talking about this. I did a video 453 00:24:07,160 --> 00:24:09,320 Speaker 1: on my main YouTube channel, Mark Moss, like two years 454 00:24:09,320 --> 00:24:12,280 Speaker 1: ago breaking down the Paris Accord and how this whole 455 00:24:12,320 --> 00:24:16,280 Speaker 1: carbon market works. And basically it's what we call greenwashing. 456 00:24:16,560 --> 00:24:20,640 Speaker 1: So companies don't produce less carbon, they just buy carbon credits. 457 00:24:20,640 --> 00:24:22,560 Speaker 1: And of course it was always fall full of scam 458 00:24:22,560 --> 00:24:25,840 Speaker 1: and fraud, and that's exactly what we're seeing. We saw 459 00:24:25,840 --> 00:24:30,720 Speaker 1: the carbon offset market faces chaos as African mega project collapses. 460 00:24:31,000 --> 00:24:33,760 Speaker 1: It was one of the largest single sources of credits 461 00:24:33,800 --> 00:24:36,920 Speaker 1: in a two billion dollar carbon market, faces serious doubt 462 00:24:37,119 --> 00:24:40,800 Speaker 1: following the collapse of the partnership. It's a big deal. 463 00:24:40,960 --> 00:24:45,120 Speaker 1: It was backed by the world's top seller of carbon offsets. 464 00:24:45,320 --> 00:24:47,159 Speaker 1: I mean, it's pretty ridiculous if you think about it. 465 00:24:47,240 --> 00:24:50,479 Speaker 1: So in Africa, wherever the carbon market markers come from, Brazil, 466 00:24:50,640 --> 00:24:53,399 Speaker 1: you name it, whatever, They're going to take this area 467 00:24:53,400 --> 00:24:57,320 Speaker 1: of land and they're going to a forest with trees, whatever, 468 00:24:57,440 --> 00:24:59,159 Speaker 1: and they're going to make sure that that stays or 469 00:24:59,160 --> 00:25:01,680 Speaker 1: so people will buy into those carbon credits if those 470 00:25:01,720 --> 00:25:05,439 Speaker 1: trees never get cut down, okay for two years or 471 00:25:05,480 --> 00:25:07,680 Speaker 1: five years or ten years. I mean, what happens when 472 00:25:07,680 --> 00:25:12,359 Speaker 1: the government changes over the land like forever. Let me 473 00:25:12,440 --> 00:25:15,080 Speaker 1: think about that. It's just insane. So we're seeing that 474 00:25:15,200 --> 00:25:19,040 Speaker 1: falling apart. The project generated nearly one hundred million dollars 475 00:25:19,080 --> 00:25:22,000 Speaker 1: by selling credits for more than twenty three million tons 476 00:25:22,480 --> 00:25:25,439 Speaker 1: of emissions. Then the NU risk undermining one of the 477 00:25:25,440 --> 00:25:29,720 Speaker 1: markets underlying insurance mechanisms, known as a credit pool. The 478 00:25:29,760 --> 00:25:34,439 Speaker 1: buffer pool is falling apart. So we're witnessing it falling 479 00:25:34,480 --> 00:25:36,840 Speaker 1: apart all over and it's not just that. Here in 480 00:25:36,840 --> 00:25:40,560 Speaker 1: the United States, the world's biggest carbon capture plant was 481 00:25:40,680 --> 00:25:43,920 Speaker 1: quietly sold off for a fraction of what it would 482 00:25:43,920 --> 00:25:48,160 Speaker 1: cost to build it. Again, more money lit on fire, millions, 483 00:25:48,359 --> 00:25:51,680 Speaker 1: billions of dollars again put into a plant in Texas 484 00:25:51,920 --> 00:25:56,520 Speaker 1: to capture carbon, the world's largest facility, and it's all gone, 485 00:25:56,720 --> 00:25:59,600 Speaker 1: all that money up in smoke. It was sold off 486 00:25:59,640 --> 00:26:01,840 Speaker 1: for a fraction of what it would cost to build it. 487 00:26:01,920 --> 00:26:06,920 Speaker 1: And the reason why because the economics don't work. You see, 488 00:26:06,960 --> 00:26:11,919 Speaker 1: in a free market, it requires free trade and it 489 00:26:11,960 --> 00:26:14,160 Speaker 1: requires both sides of the party to feel like you're 490 00:26:14,160 --> 00:26:17,560 Speaker 1: getting a better deal. I'll certainly invest a million one 491 00:26:17,600 --> 00:26:19,439 Speaker 1: dollar and take the risk if I think I can 492 00:26:19,480 --> 00:26:21,600 Speaker 1: get three or four dollars back or whatever that return is. 493 00:26:21,960 --> 00:26:26,160 Speaker 1: But when they don't make sense, they don't make sense. Now, 494 00:26:27,680 --> 00:26:30,840 Speaker 1: I want to play this clip here. Rep. Doug Lamalfia 495 00:26:31,040 --> 00:26:36,760 Speaker 1: is a Republican from California, questioned the House Transportation Committee 496 00:26:37,440 --> 00:26:40,040 Speaker 1: House Transporations, the ones that are making the rules on 497 00:26:40,160 --> 00:26:43,879 Speaker 1: these cars THESEDVS. He asked them about the infrastructure investment 498 00:26:43,920 --> 00:26:45,520 Speaker 1: and the Jobs Act. I want to play that clip 499 00:26:45,520 --> 00:26:47,280 Speaker 1: for you in a second. If you're just tune in. 500 00:26:47,280 --> 00:26:49,240 Speaker 1: You're listening to the Mark mal Show. We're talking about 501 00:26:49,280 --> 00:26:53,040 Speaker 1: the collapse of the green curtain, the green narrative. It's 502 00:26:53,040 --> 00:26:55,439 Speaker 1: falling apart. I'll be back with that video clip and 503 00:26:55,600 --> 00:26:57,000 Speaker 1: more in a minute. You don't want to miss it. Oh, 504 00:26:57,000 --> 00:26:57,879 Speaker 1: go a way, I'll be back. 505 00:26:58,119 --> 00:26:58,239 Speaker 2: Hi. 506 00:26:58,359 --> 00:26:59,879 Speaker 1: Welcome back. If you just tune in, you're listening to 507 00:27:00,040 --> 00:27:02,800 Speaker 1: the Mark Moss Show. We're talking about the collapse of 508 00:27:02,840 --> 00:27:06,320 Speaker 1: the green curtain. We're talking about the ESG, the ev 509 00:27:06,600 --> 00:27:10,920 Speaker 1: the renewable energy, carbon credit market is all collapsing. Now 510 00:27:10,960 --> 00:27:13,800 Speaker 1: we're talking about the carbon credit market. We talked about 511 00:27:13,800 --> 00:27:16,160 Speaker 1: the electric vehicles. I want to play this clip here 512 00:27:16,160 --> 00:27:19,880 Speaker 1: for you. This is Rep. Doug Lemalfa as a Republican 513 00:27:19,920 --> 00:27:25,360 Speaker 1: from California, and he's questioning witnesses at the House Transportation Commisser. 514 00:27:25,359 --> 00:27:28,520 Speaker 1: So these are the people in the government responsible for 515 00:27:28,640 --> 00:27:32,840 Speaker 1: passing these laws, these rules, these regulations on cars, emissions, 516 00:27:32,840 --> 00:27:35,720 Speaker 1: on combustible engines, evs, and stuff like that, and he's 517 00:27:35,880 --> 00:27:39,440 Speaker 1: questioning them. Let's play this clip here, analysts. 518 00:27:40,160 --> 00:27:41,879 Speaker 2: Let me just go right down the vine real fast. 519 00:27:41,880 --> 00:27:43,760 Speaker 2: What percent of our atmosphere is CO two? 520 00:27:44,080 --> 00:27:47,560 Speaker 1: Okay, So he's asking them, what percentage of the Earth's 521 00:27:47,600 --> 00:27:50,280 Speaker 1: atmosphere is CO two, Because the big thing is CO 522 00:27:50,440 --> 00:27:53,600 Speaker 1: two CO two cars it meant too much CO two, 523 00:27:53,960 --> 00:27:57,200 Speaker 1: We have to bring CO two down. As if magically 524 00:27:57,240 --> 00:28:00,239 Speaker 1: the CO two level is like the thermostat. We can 525 00:28:00,280 --> 00:28:01,920 Speaker 1: just go over to the wall and change thermostat of 526 00:28:01,920 --> 00:28:04,600 Speaker 1: the world by how much CO two is in the atmosphere. 527 00:28:05,760 --> 00:28:10,160 Speaker 1: That's the narrative, right, Fossil fuels have too much carbon, 528 00:28:10,600 --> 00:28:13,359 Speaker 1: too much, too much emissions, and if we have the 529 00:28:13,359 --> 00:28:16,879 Speaker 1: CO two get too high, then the worth the world 530 00:28:16,880 --> 00:28:19,879 Speaker 1: gets too hot. That's the narrative we've been told, like 531 00:28:19,880 --> 00:28:22,240 Speaker 1: I said, as if there's like some thermostat. Never Mind 532 00:28:22,240 --> 00:28:26,400 Speaker 1: the fact that plants need carbon. Never Mind the fact 533 00:28:26,400 --> 00:28:29,199 Speaker 1: that never mind the fact that as the tempature has 534 00:28:29,200 --> 00:28:32,560 Speaker 1: goneup last hundred twenty years, we have more plants and 535 00:28:32,640 --> 00:28:36,280 Speaker 1: more crops, we have less famine and less starvation. Never 536 00:28:36,280 --> 00:28:39,760 Speaker 1: Mind that it factually historically has actually been better for us. 537 00:28:40,000 --> 00:28:44,120 Speaker 1: Human life has expanded, global wealth has expanded. Never Mind that. 538 00:28:45,120 --> 00:28:48,080 Speaker 1: Never Mind the fact that plants need CO two. But 539 00:28:48,240 --> 00:28:50,040 Speaker 1: they're saying that we need to adjust the amount of 540 00:28:50,040 --> 00:28:52,400 Speaker 1: CO two to adjust the temperature of the world. So 541 00:28:52,480 --> 00:28:54,280 Speaker 1: let's find out he's asking them. So you're gonna make 542 00:28:54,320 --> 00:28:56,600 Speaker 1: these rules, You're going to push these agendas. So how 543 00:28:56,720 --> 00:28:59,720 Speaker 1: much of the atmosphere is made up of carbon? Let's 544 00:28:59,720 --> 00:29:01,800 Speaker 1: hear what the answers are. Here we go, I'll buy 545 00:29:01,960 --> 00:29:02,600 Speaker 1: five percent. 546 00:29:02,960 --> 00:29:05,080 Speaker 2: Right, I'll just follow you there. 547 00:29:07,040 --> 00:29:11,720 Speaker 3: We'll go, se favorite, I'll see their five and suggests 548 00:29:11,760 --> 00:29:15,000 Speaker 3: that we know that transportation causes forty nine percent of 549 00:29:15,080 --> 00:29:19,320 Speaker 3: CO two, so that's why we're all working on energy transition. 550 00:29:19,560 --> 00:29:21,680 Speaker 1: Right, I'm gonna pause that for a second. So they're like, oh, 551 00:29:21,720 --> 00:29:23,480 Speaker 1: I guess I don't know, ha ha, I don't know either. 552 00:29:23,520 --> 00:29:25,400 Speaker 1: I'll buy five percent. I don't know either. I'll do 553 00:29:25,520 --> 00:29:28,120 Speaker 1: five percent. So they don't even know. The people that 554 00:29:28,160 --> 00:29:30,320 Speaker 1: are in charge of making mos don't even know. Now, 555 00:29:30,360 --> 00:29:33,240 Speaker 1: she said, well, we know that transportation makes up forty 556 00:29:33,280 --> 00:29:37,680 Speaker 1: five percent of the CO two emissions. Okay, but what 557 00:29:37,800 --> 00:29:41,600 Speaker 1: percentage are the CO two emissions in the atmosphere? Let's 558 00:29:41,600 --> 00:29:42,320 Speaker 1: continue listening. 559 00:29:44,120 --> 00:29:45,280 Speaker 2: So what number you think it is? 560 00:29:46,760 --> 00:29:47,040 Speaker 1: Five? 561 00:29:47,600 --> 00:29:47,800 Speaker 2: Right? 562 00:29:48,440 --> 00:29:48,720 Speaker 1: Five? 563 00:29:49,000 --> 00:29:51,040 Speaker 2: Won't you? I didn't hear you. 564 00:29:51,160 --> 00:29:54,200 Speaker 1: It's rare, seven seven, seven percent? 565 00:29:54,920 --> 00:29:56,320 Speaker 2: Do you have one, mister Boyden? 566 00:29:57,600 --> 00:30:00,160 Speaker 3: So we got a five to seven? 567 00:30:00,360 --> 00:30:03,240 Speaker 2: This price is right? Hey, ok? 568 00:30:03,240 --> 00:30:05,840 Speaker 1: At the high hand, he's taking the over all. 569 00:30:05,920 --> 00:30:09,080 Speaker 2: Right, Well, I appreciate that, and I don't mean to 570 00:30:09,240 --> 00:30:10,680 Speaker 2: I put you on is. I asked a lot of 571 00:30:10,680 --> 00:30:13,400 Speaker 2: people that because all we hear is climate change, climate change, 572 00:30:13,440 --> 00:30:15,600 Speaker 2: CO two CO two. I heard a couple on the 573 00:30:15,600 --> 00:30:18,560 Speaker 2: panels saying, you're looking to change your vehicles to electric 574 00:30:18,640 --> 00:30:21,080 Speaker 2: even though we don't have the electric grid, And me, 575 00:30:21,160 --> 00:30:23,040 Speaker 2: as a farmer, I wouldn't be real happy about running 576 00:30:23,040 --> 00:30:26,080 Speaker 2: out and replacing three hundred thousand dollars five hundred thousand 577 00:30:26,120 --> 00:30:28,600 Speaker 2: dollars million dollar pieces of equipment because I want someone 578 00:30:28,640 --> 00:30:31,560 Speaker 2: wants it to be electric. The answer is point zero 579 00:30:31,680 --> 00:30:32,840 Speaker 2: four percent. 580 00:30:32,840 --> 00:30:36,600 Speaker 1: Point zero four percent. So the amount of CO two 581 00:30:36,840 --> 00:30:41,520 Speaker 1: in the atmosphere in the world is point zero four 582 00:30:43,200 --> 00:30:47,719 Speaker 1: It's like a rounding error. Now they're saying that human 583 00:30:47,920 --> 00:30:51,760 Speaker 1: cause of this emission is like one percent of the 584 00:30:51,880 --> 00:30:56,760 Speaker 1: zero point four percent, and in the United States is 585 00:30:56,760 --> 00:30:58,840 Speaker 1: probably one percent of the one percent of the point 586 00:30:59,000 --> 00:31:02,640 Speaker 1: zero four percent. So these people who are making these 587 00:31:02,760 --> 00:31:06,040 Speaker 1: rules to push these agendas don't even know this data. 588 00:31:06,120 --> 00:31:07,720 Speaker 1: They're acting like it's going to change the world, but 589 00:31:07,760 --> 00:31:10,360 Speaker 1: they don't even know the data. And now that you 590 00:31:10,400 --> 00:31:13,800 Speaker 1: hear the data, it makes up zero point four percent, 591 00:31:13,960 --> 00:31:15,840 Speaker 1: So you can start to see why this is failing. 592 00:31:15,920 --> 00:31:17,600 Speaker 1: It was not even necessary in the first place. So 593 00:31:17,640 --> 00:31:21,400 Speaker 1: then why if it's not really doing anything, if we 594 00:31:21,440 --> 00:31:23,959 Speaker 1: have these people making these rules and these pushing these 595 00:31:24,000 --> 00:31:27,920 Speaker 1: agendas without even knowing, why is this even happening? Well, 596 00:31:27,920 --> 00:31:31,400 Speaker 1: it's a good question. Well, like any good crime series 597 00:31:31,480 --> 00:31:35,040 Speaker 1: or TV show would say, well, let's follow the money, right, 598 00:31:35,280 --> 00:31:37,320 Speaker 1: follow the money. So what we can see is that 599 00:31:37,760 --> 00:31:41,840 Speaker 1: ESG investing has gotten very big. As a matter of fact, 600 00:31:41,880 --> 00:31:48,880 Speaker 1: this ESG. ESG funds had zero market share or zero 601 00:31:49,000 --> 00:31:52,880 Speaker 1: total map assets under management after the financial crisis in 602 00:31:52,880 --> 00:31:55,840 Speaker 1: two thousand and eight, but by twenty twenty, ESG funds 603 00:31:56,080 --> 00:32:01,440 Speaker 1: were sixteen trillion dollars. They went from zero to sixteen 604 00:32:01,880 --> 00:32:06,000 Speaker 1: and they're projected that these funds would exceed fifty trillion 605 00:32:06,080 --> 00:32:09,320 Speaker 1: by twenty twenty five. So going from zero to twenty 606 00:32:09,360 --> 00:32:13,840 Speaker 1: twenty five. However, the US which accounts for eleven percent 607 00:32:13,880 --> 00:32:17,040 Speaker 1: of these ESG funds, is now seeing outflows. Money is 608 00:32:17,080 --> 00:32:19,760 Speaker 1: now leaving them. Six point two billion dollars left the 609 00:32:19,800 --> 00:32:23,600 Speaker 1: final quarter of twenty twenty two. And why what's causing 610 00:32:23,640 --> 00:32:28,120 Speaker 1: these outflows? Well, surprise surprise. It's because the funds are 611 00:32:28,520 --> 00:32:32,600 Speaker 1: not performing. They're losing money. Nobody wants to put their 612 00:32:32,640 --> 00:32:34,960 Speaker 1: money into where it loves now unless the government. The 613 00:32:35,000 --> 00:32:36,720 Speaker 1: government wants to do that. You and I don't want 614 00:32:36,720 --> 00:32:39,040 Speaker 1: to do that, so the results would be expected. If 615 00:32:39,120 --> 00:32:42,280 Speaker 1: investors don't get returns, then they don't want to have 616 00:32:42,360 --> 00:32:47,680 Speaker 1: their money in there. Harvard Business Review said, Unfortunately, ESG 617 00:32:47,760 --> 00:32:51,560 Speaker 1: funds don't seem to deliver better ESG performance. So not 618 00:32:51,600 --> 00:32:55,360 Speaker 1: only are they not returning investment returns, they're saying that 619 00:32:55,400 --> 00:32:59,440 Speaker 1: the businesses that are running on these ESG standards are 620 00:32:59,440 --> 00:33:02,280 Speaker 1: not even performing better than the non ESG ones. So 621 00:33:02,800 --> 00:33:06,240 Speaker 1: they're not returning more money, nor are the businesses working better. 622 00:33:06,400 --> 00:33:10,480 Speaker 1: So what's the point. So why are these funds doing 623 00:33:10,520 --> 00:33:15,400 Speaker 1: so badly? Well? As you might imagine, when they're trying 624 00:33:15,440 --> 00:33:20,120 Speaker 1: to set ESG targets, they're focusing on the wrong things. 625 00:33:20,160 --> 00:33:25,040 Speaker 1: Instead of focusing on building the business, they're focusing on 626 00:33:25,120 --> 00:33:29,560 Speaker 1: these carbon numbers. It's the wrong thing. And then what 627 00:33:29,680 --> 00:33:32,480 Speaker 1: happens is what we're seeing is when managers are underperforming 628 00:33:32,520 --> 00:33:35,400 Speaker 1: their earnings, they're saying, well, but it's because we're focusing 629 00:33:35,440 --> 00:33:38,560 Speaker 1: on ESG. So they're using ESG as this excuse. Now 630 00:33:38,560 --> 00:33:40,480 Speaker 1: what we've seen from that is, of course, then Blackrock, 631 00:33:40,480 --> 00:33:42,480 Speaker 1: the largest asset managers of the world, had to start 632 00:33:42,680 --> 00:33:46,280 Speaker 1: dissolving their ESG funds. They've been moving back from the label. 633 00:33:46,520 --> 00:33:48,920 Speaker 1: And it's not just Blackrock. We've seen State Street and 634 00:33:48,960 --> 00:33:52,920 Speaker 1: other funds, Henderson Group, Columbia, Thread Needed Investments, They've all 635 00:33:52,960 --> 00:33:55,680 Speaker 1: dissolved their ESG funds so far in twenty twenty three. 636 00:33:56,360 --> 00:34:00,080 Speaker 1: It's all falling apart. Larry Fink is even starting to 637 00:34:00,240 --> 00:34:02,400 Speaker 1: backtrack this whole thing as well. He's the head of 638 00:34:02,400 --> 00:34:04,920 Speaker 1: black Rock, so we're starting to see this happen. It's 639 00:34:04,920 --> 00:34:08,120 Speaker 1: all falling apart now. Well, we're also seeing this big 640 00:34:08,160 --> 00:34:09,279 Speaker 1: shift too, and I don't have a lot of time 641 00:34:09,280 --> 00:34:11,560 Speaker 1: to go into this. I've been talking a lot about 642 00:34:11,680 --> 00:34:15,160 Speaker 1: my main YouTube channel, Mark moss is the rise of uranium. 643 00:34:15,280 --> 00:34:19,880 Speaker 1: Uranium is used to power nuclear energy, of course, so 644 00:34:20,200 --> 00:34:22,360 Speaker 1: we've seen this big push and now all of sudden, 645 00:34:22,680 --> 00:34:28,040 Speaker 1: we're seeing headlines coming up everywhere that uranium prices soaring 646 00:34:28,080 --> 00:34:29,520 Speaker 1: as a matter of factor, up one hundred and twenty five 647 00:34:29,520 --> 00:34:33,400 Speaker 1: percent since the end of twenty twenty. I've been in 648 00:34:33,520 --> 00:34:37,000 Speaker 1: my financial newsletter tact classic report. We've been recommending multiple 649 00:34:37,120 --> 00:34:40,359 Speaker 1: uranium plays that have been absolutely crushing it. And we're 650 00:34:40,360 --> 00:34:43,960 Speaker 1: seeing more and more reports of the massive shortage we 651 00:34:44,000 --> 00:34:46,840 Speaker 1: have in uranium because all of a sudden, uranium is 652 00:34:46,880 --> 00:34:52,440 Speaker 1: now green. It's now green energy per per the European Union, 653 00:34:53,040 --> 00:34:54,759 Speaker 1: and so now we're starting to see more and more 654 00:34:54,760 --> 00:34:57,920 Speaker 1: of these people jumping into The International Energy Agency estimates 655 00:34:57,920 --> 00:35:01,840 Speaker 1: that global nuclear capacity needs to double by twenty fifty. 656 00:35:01,960 --> 00:35:04,759 Speaker 1: It needs to double to meet net zero commitment. So 657 00:35:04,840 --> 00:35:08,759 Speaker 1: now the push to net zero goes into uranium. So 658 00:35:09,040 --> 00:35:11,560 Speaker 1: that's how we protect ourselves. So we are going to 659 00:35:11,560 --> 00:35:13,600 Speaker 1: continue to see government's light money on fire. They're not 660 00:35:13,600 --> 00:35:16,120 Speaker 1: going to give up this narrative that fast, but it's 661 00:35:16,120 --> 00:35:18,160 Speaker 1: going to continue to fail. They're going to continue to 662 00:35:18,160 --> 00:35:20,440 Speaker 1: blow up money. Our standard of living will continue to 663 00:35:20,440 --> 00:35:22,440 Speaker 1: decline as our purchasing power goes down and as your 664 00:35:22,520 --> 00:35:26,560 Speaker 1: energy costs go up. However, the world is starting to 665 00:35:26,600 --> 00:35:28,560 Speaker 1: realize that we need to run on nuclear, and I 666 00:35:28,600 --> 00:35:30,640 Speaker 1: think that's going to save the day, and we can 667 00:35:30,680 --> 00:35:37,440 Speaker 1: protect ourselves in our own portfolio by buying traditional energy 668 00:35:37,480 --> 00:35:41,759 Speaker 1: sources that work. Still bullish on uranium. Nuclear. Of course, 669 00:35:41,800 --> 00:35:44,000 Speaker 1: oil and gas is not going anywhere. Exon and Chevron 670 00:35:44,040 --> 00:35:46,320 Speaker 1: just did this one hundred and ten billion dollar deal, 671 00:35:47,239 --> 00:35:50,799 Speaker 1: and I expect both oil gas and uranium to be 672 00:35:50,920 --> 00:35:52,520 Speaker 1: higher in the future. So if you're looking for a 673 00:35:52,520 --> 00:35:55,560 Speaker 1: way to insulate yourself from all this, insulate yourself from 674 00:35:55,600 --> 00:35:59,760 Speaker 1: the potential five dollars gallon gasoline prices that are projected 675 00:35:59,760 --> 00:36:02,799 Speaker 1: to come, do it by protecting your purchasing power into 676 00:36:02,800 --> 00:36:04,440 Speaker 1: some of these energy plays. If you're just tuned in, 677 00:36:04,480 --> 00:36:06,440 Speaker 1: you're listening to the Mark Moss Show. Have been breaking 678 00:36:06,440 --> 00:36:10,800 Speaker 1: down the crash of the green curtain, the evy renewable 679 00:36:10,800 --> 00:36:13,000 Speaker 1: space that's crashing down. Hopefully enjoyed this, let me know, 680 00:36:13,040 --> 00:36:14,600 Speaker 1: hit me up in the comments are on social media 681 00:36:14,640 --> 00:36:16,560 Speaker 1: at one Mark Moss and that's what I got. Thanks 682 00:36:16,560 --> 00:36:17,040 Speaker 1: for listening.