WEBVTT - The Green Mirage: Truth Behind EV Setbacks & Renewable Energy Flaws 0:00:00.240 --> 0:00:05.160 The green transition an echo promised or a global setback. Now, 0:00:05.160 --> 0:00:08.880 for years we've been hearing about this push to renewable everything. 0:00:09.039 --> 0:00:13.480 We're electricfying everything, We're electrifying vehicles, electric vehicles, ebs, we're 0:00:13.520 --> 0:00:17.840 electrifying home appliances. All the electrical generation is supposed to 0:00:17.880 --> 0:00:22.239 come from renewable sources like solar panels and windmills, which 0:00:22.280 --> 0:00:25.920 sounds great, right until you realize it's about as realistic 0:00:26.000 --> 0:00:28.680 as catching eleprochan and having them lead you to a 0:00:28.760 --> 0:00:31.880 pot of gold, which is not very likely. Now, the 0:00:31.960 --> 0:00:34.600 reality of this was always going to be a factor. 0:00:34.640 --> 0:00:37.159 I've said this many times until reality hits you in 0:00:37.240 --> 0:00:40.760 the face. But now with the FED hiking rates, debt 0:00:40.800 --> 0:00:44.120 piling high, and a recession looming, we're starting to see 0:00:44.120 --> 0:00:47.760 the cracks everywhere in this push to renewables. The dam 0:00:47.840 --> 0:00:50.960 is crashing, and over just the last couple of weeks, 0:00:51.280 --> 0:00:54.520 more and more data is piling in showing just how 0:00:54.640 --> 0:00:58.400 bad this is. So on today's show, we're going to 0:00:58.440 --> 0:01:02.760 cover the much celebrate to green transition, held as the 0:01:02.840 --> 0:01:06.680 earth saving grace, but under closer inspection, we're going to 0:01:06.760 --> 0:01:11.480 see a massive amount of economic drawbacks, environmental paradoxes and 0:01:11.520 --> 0:01:13.600 other things. We're going to see that the global push 0:01:13.600 --> 0:01:19.000 to adopt cleaner energy solutions comes brings an underreported narrative 0:01:19.160 --> 0:01:24.360 of failed infrastructure projects, slowed EV sales, and policies starting 0:01:24.360 --> 0:01:26.520 to fall apart. We're going to look at why there 0:01:26.600 --> 0:01:29.319 was this relentless drive, why there was this push, who 0:01:29.440 --> 0:01:32.039 stands to gain the most? And we're going to look 0:01:32.240 --> 0:01:35.760 through the interest behind the green curtain, and we're going 0:01:35.800 --> 0:01:39.520 to give you strategies that you can use to protect yourself, 0:01:39.560 --> 0:01:43.880 to arm yourself amidst this green chaos. Now, if you're 0:01:43.880 --> 0:01:45.920 just tune in, you're listening to the Mark Mass Show. 0:01:46.400 --> 0:01:49.680 We're talking always about the money and the freedom and 0:01:49.720 --> 0:01:52.040 how we can protect those things as the world continues 0:01:52.080 --> 0:01:55.080 to break apart. And today we are watching one of 0:01:55.120 --> 0:01:59.920 the biggest narratives, this green curtain, like I said, falling apart. Now, 0:02:00.200 --> 0:02:03.960 it starts with the rise and stall of electric vehicles. 0:02:04.640 --> 0:02:07.000 Of course, you know about this the EV push. We've 0:02:07.000 --> 0:02:09.639 been hearing about it in California. The EV push has 0:02:09.639 --> 0:02:12.040 been big. But it's not just California. It's United States 0:02:12.040 --> 0:02:14.400 and it's other nations that have all been pushing for 0:02:14.520 --> 0:02:17.640 a move to electric vehicles, and not just pushing for 0:02:17.720 --> 0:02:20.239 a move to it, but as a matter of fact, mandating. 0:02:20.680 --> 0:02:22.000 This is the very key piece we're going to come 0:02:22.040 --> 0:02:26.480 back to over and over throughout this segment, mandating the 0:02:26.680 --> 0:02:31.200 switch to electric vehicles, certain goals by twenty thirty by 0:02:31.240 --> 0:02:35.040 twenty thirty five. But the problem is the market doesn't 0:02:35.160 --> 0:02:38.359 work like that. You can't just will things into existence. 0:02:38.400 --> 0:02:41.280 There has to be demand, and that is exactly the 0:02:41.320 --> 0:02:44.640 problem that we have in the EV space. There's no 0:02:44.919 --> 0:02:47.200 demand sales or slow. As a matter of fact, Ford 0:02:47.280 --> 0:02:51.399 said that customers in North America are unwilling to pay 0:02:51.400 --> 0:02:55.120 a premium for the EV vehicles. So Ford's electric vehicle 0:02:55.160 --> 0:02:59.600 push is falling apart. The company is now postponing twelve 0:02:59.680 --> 0:03:03.679 billion dollars in electric vehicle manufacturing investment. The CFO John 0:03:03.720 --> 0:03:07.800 Lawler said that Ford will postpone about twelve billion in 0:03:07.919 --> 0:03:11.840 spending on manufacturing capacity for evs, including a planned second 0:03:11.840 --> 0:03:16.840 battery plant in Kentucky. So this isn't just like things 0:03:16.880 --> 0:03:19.480 are bad, sales are bad. This is no, no, we're 0:03:19.600 --> 0:03:24.000 cutting spending on future production right. So these are leading 0:03:24.040 --> 0:03:26.120 indicators that tell us where the future is going. So 0:03:26.280 --> 0:03:29.280 either we're going to have well both probably much less 0:03:29.320 --> 0:03:32.360 electric vehicles in the future because Ford's cutting back on 0:03:32.520 --> 0:03:36.320 future development and we're gonna have higher prices less supply. 0:03:36.560 --> 0:03:40.280 Now that unless the demand completely falls off the you know, 0:03:40.320 --> 0:03:43.680 off the cliff. We saw Ford's Model EV. Their unit 0:03:43.760 --> 0:03:47.600 lost about three point one billion through three quarters this 0:03:47.720 --> 0:03:50.720 year in twenty twenty three. You can't just lose three 0:03:51.040 --> 0:03:54.720 billion dollars in a year. The full year operating loss 0:03:54.800 --> 0:03:58.320 is four and a half billion for the for Ford's 0:03:58.400 --> 0:04:01.480 E business, the EV unit. You can't just lose four 0:04:01.480 --> 0:04:04.080 and a half billion. It doesn't work like that. The 0:04:04.120 --> 0:04:06.560 markets don't support that. As part of the third quarter 0:04:06.640 --> 0:04:09.240 report we see Ford said on Thursday that it's EV 0:04:09.440 --> 0:04:14.000 business called Ford Model E lost all this money, all right, 0:04:14.280 --> 0:04:17.960 and it's double the loss from a year ago. Now 0:04:18.120 --> 0:04:21.440 this is despite they had a twenty six percent increase 0:04:21.440 --> 0:04:24.760 in revenue, but they lost double the amount that they 0:04:24.800 --> 0:04:27.119 lost last year. And it's not just Ford. General Motors 0:04:27.160 --> 0:04:28.919 is the same thing. In a quarter three letter to 0:04:28.960 --> 0:04:32.520 shareholders published on Tuesday, GMCO Mary Barra said that the 0:04:32.520 --> 0:04:36.640 automaker would be changing course. What does that mean? Changing course? 0:04:36.720 --> 0:04:40.279 Changing course from what? Changing course from this push to 0:04:40.400 --> 0:04:43.400 electric vehicles. They had a previous goal to build four 0:04:43.560 --> 0:04:46.800 hundred thousand electric vehicles by mid twenty twenty four by 0:04:46.839 --> 0:04:50.159 mid next year, and that's what they're changing direction. They're 0:04:50.200 --> 0:04:52.559 no longer going to project to do that. They're no 0:04:52.600 --> 0:04:54.600 longer going to try to do that because they've been 0:04:54.640 --> 0:04:58.120 having the same setbacks as forward. They're losing massive amounts 0:04:58.120 --> 0:05:00.800 of money and they're finding it on able or find 0:05:00.839 --> 0:05:03.120 themselves unable to be able to meet those goals. GMS 0:05:03.160 --> 0:05:07.359 delayed the Silverado EV for another year due to surprise surprise, 0:05:07.560 --> 0:05:11.599 shrinking demand and engineering challenges. Some of the engineering challenges 0:05:11.640 --> 0:05:14.040 are like how the heck do we get all the 0:05:14.120 --> 0:05:17.080 materials that we need to build these things? They're just 0:05:17.120 --> 0:05:19.760 not available in the world. GM says that demand is 0:05:19.839 --> 0:05:23.280 so down, in fact, that it's diverting one thousand employees 0:05:23.320 --> 0:05:26.760 from its Orion assembly plant in Michigan, which is currently 0:05:26.800 --> 0:05:31.240 being retooled for EV production, to other Michigan assembly facilities. 0:05:31.279 --> 0:05:33.920 So they're currently trying to build out the DV facilities 0:05:33.920 --> 0:05:35.599 and now they're just going to move everyone over. And 0:05:35.600 --> 0:05:38.400 it's not just for it, it's not just GM. Mercedes Benz. 0:05:38.480 --> 0:05:42.720 Price of their stock fell nearly six percent because their 0:05:42.800 --> 0:05:46.880 profits fell. Why do their profits fail the same thing. 0:05:47.160 --> 0:05:51.760 The CFO said that brutal quote brutal EV pricing caused 0:05:51.760 --> 0:05:54.719 their profits to fall, so we saw their shares fall. 0:05:54.760 --> 0:05:59.520 Thursday reported lower profits, lower revenues, and highlighted pricing challenges 0:05:59.560 --> 0:06:04.600 in the e EV space, specifically, it's a bloodbath everywhere. 0:06:04.640 --> 0:06:06.680 He was quoted. The CFO was quota of saying, quote, 0:06:06.920 --> 0:06:11.559 pretty brutal space. That's what he said. And the point 0:06:11.680 --> 0:06:13.840 is is that there is no demand. And the reason 0:06:13.839 --> 0:06:16.320 why there's no demand is nobody wants to pay these 0:06:16.560 --> 0:06:20.200 astronomic prices. And the other problem is they just don't work. 0:06:20.240 --> 0:06:23.120 We saw recently. I was I think the president of 0:06:23.160 --> 0:06:25.640 Ford went on a road trip and show and the 0:06:25.760 --> 0:06:29.839 report was like, wow, we can't really charge these things. 0:06:30.680 --> 0:06:32.240 We're going to get back to the charging thing in 0:06:32.279 --> 0:06:34.320 a minute, but what we can see is that these 0:06:34.400 --> 0:06:37.360 companies are losing money left and right, left and right, 0:06:37.400 --> 0:06:39.520 left and right. Now. Part of the reason why they've 0:06:39.560 --> 0:06:42.800 been able to work is because of the taxpayers are 0:06:42.880 --> 0:06:47.040 bankrolling these evs. So that means you, I don't own 0:06:47.040 --> 0:06:49.000 an EV vehicle, well, I own a golf cart. But 0:06:49.000 --> 0:06:52.760 I don't own an actual My main cars are combustion engine. 0:06:52.920 --> 0:06:55.120 I don't own a v EV vehicle and you might 0:06:55.160 --> 0:06:59.640 not either. But regardless, you're paying for it. You're paying 0:06:59.680 --> 0:07:02.720 for it because taxpayers are the ones bailing them out. 0:07:03.000 --> 0:07:06.400 Ford and GM, like I said, are slowing their production down, 0:07:06.440 --> 0:07:10.440 but the governments still spend billions of dollars in incentives. 0:07:11.320 --> 0:07:14.960 So it's the incentives that you're paying for through this. 0:07:15.000 --> 0:07:18.280 As a matter of fact, we can see well, we're 0:07:18.280 --> 0:07:20.040 going to talk about the incentives and how much they were. 0:07:20.080 --> 0:07:23.960 But earlier this year, the EPA Environmental Protected Agency, part 0:07:24.040 --> 0:07:27.440 of what's driving this, put out new rules that would 0:07:27.440 --> 0:07:30.800 require as minis two of every three vehicles sold in 0:07:30.800 --> 0:07:34.360 the US by twenty thirty two to be electric. But 0:07:34.400 --> 0:07:38.200 nobody wants them. Nobody can afford them. The governments are 0:07:38.280 --> 0:07:40.760 running out of money. We talk about we'll talk later 0:07:40.760 --> 0:07:42.600 about some of the deficits that the government is, but 0:07:42.680 --> 0:07:46.800 right now we're spending well, as of a last quarter, 0:07:46.880 --> 0:07:49.560 we had to borrow an extra trillion, an extra trillion 0:07:49.600 --> 0:07:53.880 dollars just in borrowing for the quarter. That's how upside 0:07:53.880 --> 0:07:56.400 down the government budget is. But yet they're spending billions 0:07:56.480 --> 0:08:00.960 of dollars to bend to change to will and do 0:08:01.040 --> 0:08:05.120 existence both the supply chain, but more importantly, the demand curves. 0:08:05.720 --> 0:08:08.520 They're trying to build the demand, but it's just not there. 0:08:08.680 --> 0:08:11.600 The buy An Administration's Inflation Reduction Act, the IRA, which 0:08:11.640 --> 0:08:14.600 is supposed to lower inflation by spending a bunch of money, 0:08:14.800 --> 0:08:16.880 put in a seventy five hundred dollars tax credit for 0:08:16.920 --> 0:08:20.440 the purchase of electric vehicles, but yet nobody is still 0:08:20.640 --> 0:08:25.040 buying them. Millions of dollars, billions of dollars of incentives and 0:08:25.080 --> 0:08:29.360 it's all falling apart now. The math is astonishing. It 0:08:29.560 --> 0:08:32.480 just will not work. We're going to talk about that. 0:08:32.480 --> 0:08:33.959 We're going to talk about the amount of money that 0:08:33.960 --> 0:08:35.440 they're going to have to spend. We're going to talk 0:08:35.480 --> 0:08:37.280 about the deficits they have, and we're going to talk 0:08:37.320 --> 0:08:40.360 about the unrealistic numbers. I want to break down some 0:08:40.400 --> 0:08:41.880 of these numbers for you in a minute. But if 0:08:41.920 --> 0:08:43.400 you're just tune in you're listening to the Mark Mass 0:08:43.400 --> 0:08:45.800 Show'll be back with more in a minute, talking about 0:08:46.080 --> 0:08:49.240 this blow up of this renewable market. Don't go away, 0:08:49.320 --> 0:08:51.240 We're back, all right, Welcome back. If you're just tune in, 0:08:51.320 --> 0:08:53.760 you're listening to the Mark Mass Show. We're talking about 0:08:54.160 --> 0:08:58.520 the demise, the failure of the renewable energy push, this 0:08:58.880 --> 0:09:01.840 ESG narrative, and we were talking about at first this 0:09:01.960 --> 0:09:04.360 EV vehicle and how it's just this colossal failure, not 0:09:04.400 --> 0:09:07.240 just a costal failure, but a black hole swallowing up 0:09:07.280 --> 0:09:09.160 billions and billions of dollars. I went through some of 0:09:09.160 --> 0:09:12.080 the losses that we have there, but we can let's 0:09:12.080 --> 0:09:14.960 dig into some of these numbers here. So according to 0:09:15.000 --> 0:09:19.439 Texas Public Policy Foundation, they concluded that EV vehicles cost 0:09:19.559 --> 0:09:22.559 tens of thousands of dollars more if not if they 0:09:22.679 --> 0:09:24.840 or they would cost tens of thousands of dollars more 0:09:24.840 --> 0:09:28.360 if it wasn't for the taxpayer funded incentives. Again, even 0:09:28.400 --> 0:09:30.840 if you don't own an EV vehicle, you are paying 0:09:30.920 --> 0:09:33.360 for it. The report said that the average model year 0:09:33.400 --> 0:09:37.319 twenty twenty one EV would cost approximately forty eight, six 0:09:37.400 --> 0:09:40.760 hundred and ninety eight dollars more to own over a 0:09:40.840 --> 0:09:45.880 ten year period without the staggering twenty two billion dollars 0:09:45.880 --> 0:09:49.040 in taxpayer funded handouts that the government provides to electric 0:09:49.040 --> 0:09:52.800 car manufacturers. So the car which are already overpriced, so 0:09:53.040 --> 0:09:55.160 if you look at a comparable EV vehicle to a 0:09:55.160 --> 0:09:59.120 comparable combustion engine, the amount over the premium you're going 0:09:59.160 --> 0:10:00.960 to pay for the EV vehicle, you will not save 0:10:01.000 --> 0:10:03.440 that in gas. You're not going to save that in gas. 0:10:03.559 --> 0:10:05.240 And what they're saying is if the government didn't spend 0:10:05.240 --> 0:10:08.720 twenty two billion dollars from your taxpayer of money giving 0:10:08.760 --> 0:10:11.320 them as handouts to these companies, it would cost an 0:10:11.440 --> 0:10:15.000 extra forty eight thousand dollars. They're basically double or almost 0:10:15.280 --> 0:10:17.679 more than double the cost of the car. All right, 0:10:17.760 --> 0:10:20.760 So without your money as a taxpayer, we're not going 0:10:20.800 --> 0:10:22.240 to have it. But how do we continue to spend 0:10:22.240 --> 0:10:25.400 this money as a government when we're trillions of dollars 0:10:25.520 --> 0:10:29.920 upside down in a deficit. Now we can see that 0:10:29.960 --> 0:10:33.480 electric vehicle owners have been the beneficiaries of these regulatory credits, 0:10:33.600 --> 0:10:39.360 subsidies things like that totally nearly fifty thousand dollars per EV, 0:10:39.559 --> 0:10:42.440 which is pretty crazy. And so the thing that's important 0:10:42.480 --> 0:10:45.199 to understand is that this goal is pushed to net 0:10:45.320 --> 0:10:49.280 zero in order to get a net zero society. It 0:10:49.400 --> 0:10:54.440 basically favors to have over the have nots. Part of 0:10:54.440 --> 0:10:56.400 the reason why there's many reasons why the rich get 0:10:56.480 --> 0:10:59.640 richer and the poor gate rapport, and most all of 0:10:59.679 --> 0:11:03.440 them are because of the government. They're caused by the government. 0:11:04.000 --> 0:11:06.839 And this is another example of this, which is this 0:11:06.960 --> 0:11:09.840 pushing this to this zero society is going to increase 0:11:09.880 --> 0:11:11.880 this divide between the rich and the poor, the haves 0:11:11.880 --> 0:11:14.280 and the have nots. Because let's say like renters, if 0:11:14.280 --> 0:11:17.080 you're a renter, you're a low income family, well, you 0:11:17.160 --> 0:11:19.839 probably don't have a private charger to plug in your 0:11:19.840 --> 0:11:22.720 EV and so then you have to charge at public 0:11:22.800 --> 0:11:26.200 charging stations. But the cost to charge it at a 0:11:26.240 --> 0:11:29.520 private charging station is anywhere from five to ten times 0:11:29.559 --> 0:11:31.840 as much as it would be to charge from home. 0:11:32.520 --> 0:11:36.160 So your cost would go up, your living standard would 0:11:36.200 --> 0:11:37.960 go down. Now, let's break into some math. This is 0:11:38.000 --> 0:11:40.160 what's amazing to me. So let's just take a look 0:11:40.160 --> 0:11:44.200 at California. For example, in California, we have about eleven 0:11:44.320 --> 0:11:48.800 thousand gas stations in California. All right, places this out gas. Now, 0:11:48.840 --> 0:11:52.200 this is about one hundred and ten thousand nozzles, so 0:11:52.200 --> 0:11:53.920 one hundred and ten thousand cars could fill up at 0:11:53.920 --> 0:11:56.800 the same time. All right. Now, what this means is 0:11:56.840 --> 0:12:00.800 if we need to replace all of those with charge stations. 0:12:01.000 --> 0:12:03.480 What we would need is we need at least twenty 0:12:03.679 --> 0:12:09.000 EV charging ports for every one gas nozzle. Okay, twenty 0:12:09.040 --> 0:12:11.120 EV ports for everyone gas nozzle, and this would be 0:12:11.160 --> 0:12:13.240 by twenty thirty five to hit California's goal by twenty 0:12:13.280 --> 0:12:16.920 thirty five. Now, the cost to build a charging port 0:12:17.160 --> 0:12:20.240 a charging station has at least four charging ports is 0:12:20.280 --> 0:12:23.000 about a million dollars. So let's just do the math 0:12:23.160 --> 0:12:27.800 one hundred and ten thousand nozzles times the twenty EV 0:12:27.960 --> 0:12:31.440 ports needed per nozzle, and then we divide it by four. 0:12:31.480 --> 0:12:33.720 Because each station has four ports and at the cost 0:12:33.760 --> 0:12:36.560 is a million dollars, that would mean that California has 0:12:36.600 --> 0:12:39.920 to spend five hundred and fifty five billion, more than 0:12:40.120 --> 0:12:44.720 half a trillion dollars just to have the ability to 0:12:44.840 --> 0:12:47.400 charge the cars that they need by twenty thirty five. 0:12:48.760 --> 0:12:50.520 Half a trillion dollars, more than half a jillion dollars. 0:12:50.559 --> 0:12:53.680 How does that sound. Now that's in California. California's packed. 0:12:53.679 --> 0:12:58.600 What about more remote areas? In Wyoming? Officials hired consultants 0:12:58.600 --> 0:13:00.679 to do a study, and they said that there's no 0:13:00.800 --> 0:13:03.160 chance they can have chargers in their state. They said 0:13:03.200 --> 0:13:07.160 that seven remote sites would be used so infrequently they 0:13:07.200 --> 0:13:11.200 would lose an average of about three hundred thousand dollars 0:13:11.320 --> 0:13:14.520 per site. Who's going to pay for that? Who's going 0:13:14.559 --> 0:13:16.440 to pay to lose three hundred thousand dollars per site? 0:13:16.600 --> 0:13:18.160 And then you add on top of it that the 0:13:18.200 --> 0:13:20.520 price of electricity is going through the roof in Germany, 0:13:20.720 --> 0:13:24.280 in the UK, in California, electricity prices are going through 0:13:24.320 --> 0:13:26.679 the roof. And it doesn't take a genius to figure 0:13:26.679 --> 0:13:30.280 out why they're building thousands of wind turbine solar panels, 0:13:30.280 --> 0:13:33.840 but they can't get rid of the main power plants 0:13:34.040 --> 0:13:37.160 because they're needed for backup. So basically, now Germany, UK 0:13:37.280 --> 0:13:40.640 and California are paying for two power plants. They need 0:13:40.679 --> 0:13:43.959 a duplicate system, so they want to run it off 0:13:44.000 --> 0:13:47.600 the renewables, but they still need the main one the 0:13:47.600 --> 0:13:50.280 fossil fuel backup at the same time, so you're paying 0:13:50.280 --> 0:13:53.200 for two. So of course the prices are going up, 0:13:53.559 --> 0:13:57.959 so it's just not working. It's an unsustainable path. Now, 0:13:58.360 --> 0:14:00.320 part of this, like I said, is not just this 0:14:00.440 --> 0:14:04.760 EV vehicle, It's about the whole push. But really I 0:14:04.800 --> 0:14:06.960 want to go back to just one thing. The government 0:14:07.000 --> 0:14:10.280 trying to push this narrative, and this is not the 0:14:10.320 --> 0:14:12.800 way capitalism works. It's not the way free markets work. 0:14:13.120 --> 0:14:16.320 The free markets work as individuals like you and I 0:14:16.720 --> 0:14:19.960 that move in our own self interest. So when I 0:14:20.120 --> 0:14:22.520 want something, and I want something bad enough, then I 0:14:22.560 --> 0:14:25.880 would be compelled human action. Mysis wrote the book Human Action. 0:14:26.080 --> 0:14:28.880 My human action would compel me to take action. You 0:14:28.920 --> 0:14:31.920 can't push that. It has to be market driven is 0:14:31.920 --> 0:14:34.720 from the bottom up. There's a textbook example, a marketing 0:14:34.760 --> 0:14:37.080 flop from Ford. You would think Ford would have learned this. 0:14:37.600 --> 0:14:39.400 And there was a time when Ford tried to launch 0:14:39.440 --> 0:14:41.680 a new car called the Edsel. It was heralded as 0:14:41.720 --> 0:14:44.400 the hot new car in the late nineteen fifties. All 0:14:44.480 --> 0:14:47.360 the experts and Ford executives said, it was like it 0:14:47.400 --> 0:14:48.560 was going to be the best car, was going to 0:14:48.560 --> 0:14:49.960 be the biggest thing ever. They're going to sell so 0:14:50.040 --> 0:14:53.360 many of these units. Henry Ford, the car was named 0:14:53.360 --> 0:14:56.720 after his son, guaranteed hundreds of thousands of sales of 0:14:56.760 --> 0:14:59.840 this new car. But there was a problem. Something went wrong. 0:15:00.720 --> 0:15:04.240 Nobody ever bothered to ask car buyers what they thought 0:15:04.280 --> 0:15:06.040 of the new car, and as it turned out, they 0:15:06.080 --> 0:15:09.720 hated it. So instead of selling four hundred thousand cars. 0:15:09.720 --> 0:15:15.000 As they projected four hundred thousand, Americans bought only ten thousand. 0:15:15.200 --> 0:15:18.480 The model was of course discontinued. But the lesson for 0:15:18.520 --> 0:15:22.000 the industry is you can't bribe Americans to buy cars 0:15:22.040 --> 0:15:25.040 they don't want. You can't do that. You think they 0:15:25.040 --> 0:15:26.680 would have learned it. You would think Detroit would have 0:15:26.720 --> 0:15:28.960 got the message, but they haven't. We saw last week 0:15:28.960 --> 0:15:31.480 Honda and GM announced an end to their two year 0:15:31.520 --> 0:15:34.480 collaboration and building a platform for lower cost evs. It's 0:15:34.480 --> 0:15:37.440 gone hanted GM. They shut it. That means they're not 0:15:37.440 --> 0:15:40.280 going to have that future product. Amazingly, less than ten 0:15:40.320 --> 0:15:42.640 percent of all new car sales over the last two 0:15:42.720 --> 0:15:46.320 years or eves, despite the fact that the US government 0:15:46.360 --> 0:15:49.240 is writing a check for seventy five hundred dollars if 0:15:49.240 --> 0:15:51.520 you buy one, and some states are even kicking in 0:15:51.520 --> 0:15:55.800 an extra five thousand. So even with all this push, 0:15:55.960 --> 0:15:58.280 even with all this technology, even with all this money 0:15:58.320 --> 0:16:01.960 back in your pocket, it still doesn't make sense and 0:16:02.040 --> 0:16:05.040 nobody wants them. That's the problem. And the news is 0:16:05.040 --> 0:16:07.400 even worse for wind in solar power. We'll get to that. 0:16:07.440 --> 0:16:08.880 The wind and solar power is even worse. The Wall 0:16:08.880 --> 0:16:12.120 Street Journal reported last week that clean energy investment funds 0:16:12.400 --> 0:16:15.360 are tanking. So the funds that you put your money 0:16:15.400 --> 0:16:18.240 into to invest to grow, and they're investing into these 0:16:18.600 --> 0:16:21.800 cleaninity projects, when in Solar they're tanking. As a matter 0:16:21.800 --> 0:16:24.360 of fact, summerre down as much as seventy percent in 0:16:24.440 --> 0:16:27.840 recent months. Solar has been one of the worst performing 0:16:27.960 --> 0:16:31.960 industry stocks this year, and of course it is because 0:16:32.000 --> 0:16:34.360 it doesn't work. It takes too much money, and there's 0:16:34.360 --> 0:16:38.320 no return on capital. Investments are very simple investments. Don't 0:16:38.320 --> 0:16:42.000 care about your feelings. They don't care about emotions, they 0:16:42.000 --> 0:16:45.440 don't care about judgment. They're not spent, they're not you know, 0:16:45.480 --> 0:16:49.320 it's not up to someone to decide. It's it's numbers. 0:16:49.360 --> 0:16:52.160 It's math. So I put a dollar in, how many 0:16:52.160 --> 0:16:54.200 dollars do I get back? Or how many dollars do 0:16:54.240 --> 0:16:56.640 I lose? It's simple math. And what we can see 0:16:56.680 --> 0:16:58.760 is that Solar is down seventy percent, one of the 0:16:58.760 --> 0:17:03.320 worst performing stocks industries stocks in the industry. Now, we're 0:17:03.320 --> 0:17:04.880 gonna come back in a minute and we're gonna break 0:17:04.880 --> 0:17:07.240 down some bigger math. We'll show you what was behind 0:17:07.320 --> 0:17:10.239 this big push, what narrative is starting to shift right 0:17:10.280 --> 0:17:11.680 now and so much more. If you're just tuning in, 0:17:11.720 --> 0:17:14.240 you're listening to the Mark Ma Show, we're talking about 0:17:14.800 --> 0:17:18.720 the green curtain coming down, what's behind it, and ultimately 0:17:18.760 --> 0:17:21.280 what you can do to protect yourself. As this all 0:17:21.320 --> 0:17:23.479 moved forward, I got a whole lot more to cover. 0:17:23.520 --> 0:17:25.000 I'm gonna go through it pretty quickly. You don't want 0:17:25.000 --> 0:17:27.200 to miss this, so don't go away. I'll be right back. 0:17:27.240 --> 0:17:28.720 All right, welcome back. If you're just tuning in, you're 0:17:28.720 --> 0:17:30.840 listening to the Mark Mass Show, we're talking about the 0:17:30.960 --> 0:17:34.800 green curtain. We're talking about the colossal collapse of the 0:17:34.840 --> 0:17:38.360 EV and the renewable space. We're running through all this now. 0:17:38.400 --> 0:17:40.720 If you missed any of this, you should go listen 0:17:40.720 --> 0:17:43.000 to it. Check it out on the podcast. It's all archive. 0:17:43.080 --> 0:17:45.399 Just searched the Mark Mass Show on your favorite podcast player, 0:17:45.560 --> 0:17:48.800 or you can go onto YouTube to market Disruptors and 0:17:48.920 --> 0:17:50.560 you can watch it and listen to it at the 0:17:50.600 --> 0:17:53.560 same time. Now we're talking about how the EV space 0:17:53.920 --> 0:17:56.840 and the solar space and just investing in renewables is 0:17:56.880 --> 0:18:00.280 collapsing and we're starting to see this massive shift at 0:18:00.280 --> 0:18:01.919 the same time. So what am I talking about, Well, 0:18:01.920 --> 0:18:06.600 we saw Exon and Chevron old school fossil fuel industries 0:18:07.080 --> 0:18:09.840 are actually growing. As a matter of fact, Exon and 0:18:09.920 --> 0:18:14.919 Chevron engineered one hundred and ten billion dollar blockbuster acquisition 0:18:15.000 --> 0:18:18.560 to expand oil and gas drilling in the Premium Basin 0:18:18.600 --> 0:18:21.440 in Texas, one of the biggest oil fields in the world. Now, 0:18:21.560 --> 0:18:25.400 this is happening despite the three hundred and seventy billion 0:18:25.440 --> 0:18:28.760 dollars green energy slush fund that's out there for him. 0:18:29.240 --> 0:18:31.240 So even though there's all this money, even though the 0:18:31.280 --> 0:18:33.760 government's trying to push this, even though there's all these incentives, 0:18:34.359 --> 0:18:37.400 they're still investing heavily into oil and gas. And as 0:18:37.440 --> 0:18:42.240 this is happening, we're watching all the investments into renewables collapsing. 0:18:42.600 --> 0:18:46.480 We saw this week world's largest offshore wind farm developer 0:18:46.640 --> 0:18:52.359 abandons two major US projects as the renewable bust erupts now. 0:18:54.520 --> 0:18:56.840 Anyone that thought that offshore wind farms was a good 0:18:56.840 --> 0:19:00.400 idea needs to probably revisit their elementary math. We'll run 0:19:00.400 --> 0:19:01.879 through some of that, but what we can see is 0:19:01.880 --> 0:19:03.960 that President Biden and the Bide administration has been pushing 0:19:04.000 --> 0:19:08.160 this wind revolution, and now it's blowing down. It's falling down. 0:19:08.280 --> 0:19:12.840 The world's largest offshore wind developer is abandoned them. And 0:19:12.840 --> 0:19:15.440 it's not just them, Lots of these projects are being 0:19:15.440 --> 0:19:21.080 abandoned everywhere because they're losing massive amounts of money. Again, 0:19:21.400 --> 0:19:23.840 investments don't care about any of these narratives. They care 0:19:23.840 --> 0:19:25.640 about do I get a dollar and a dollar out. 0:19:25.840 --> 0:19:28.280 You can't just go light money on fire, even if 0:19:28.320 --> 0:19:31.159 it's the government which doesn't have any money. Well, the 0:19:31.200 --> 0:19:34.120 government never has any money. The government cannot give something 0:19:34.240 --> 0:19:37.399 it has not taken. The government can only take money 0:19:37.440 --> 0:19:39.680 from you to give to somebody else. And they're literally 0:19:39.720 --> 0:19:43.320 taking Urini money, our tax payer money and lighting it 0:19:43.440 --> 0:19:46.399 on fire giving it to these companies who are losing 0:19:46.440 --> 0:19:49.879 it all. Now, those companies, the founders, the owners, people 0:19:49.920 --> 0:19:52.159 working at the company, they're getting fabulously rich and the 0:19:52.160 --> 0:19:53.719 company burns down and we end up with nothing. As 0:19:53.720 --> 0:19:57.959 a matter of fact, we saw win this wind farm company. 0:19:59.000 --> 0:20:01.600 They said that off New Jersey, they had two projects, 0:20:01.600 --> 0:20:05.080 Ocean Wind one and two, and they lost. Total impairments 0:20:05.119 --> 0:20:08.200 recognized in the interim financial report for the first nine 0:20:08.400 --> 0:20:13.760 months of twenty twenty three amount to twenty eight billion dollars. 0:20:14.600 --> 0:20:17.240 Twenty eight billion dollars. How the heck are they going 0:20:17.280 --> 0:20:20.200 to afford that? That was your tax money, my tax 0:20:20.240 --> 0:20:22.800 money that went to them. Again, the owner's probably got 0:20:22.840 --> 0:20:24.760 new houses and new cars, and they'd probably did really good. 0:20:25.320 --> 0:20:28.080 And the twenty eight billion dollars is up in smoke. 0:20:28.480 --> 0:20:31.240 And we don't have the wind farms. We have nothing 0:20:31.520 --> 0:20:34.960 all right now. It's not just them, It's happening all 0:20:35.040 --> 0:20:36.960 over the place. As a matter of fact, we saw 0:20:37.320 --> 0:20:42.280 Siemens Energy in Germany crashed after the company warned its 0:20:42.280 --> 0:20:45.640 wind turbine business is grappling with quality issues and offshore 0:20:45.840 --> 0:20:49.800 ramp up challenges, challenges in like, wow, it's really difficult 0:20:49.800 --> 0:20:51.199 to go out into the middle of the ocean in 0:20:51.240 --> 0:20:53.360 a stormy sea and tie up next to these things 0:20:53.359 --> 0:20:55.920 and fix them. Hm. Who would have thought that? Never 0:20:55.920 --> 0:20:58.359 could have imagined things like that. In the solar industry, 0:20:58.359 --> 0:21:01.640 we saw a company called Solar Edge Technology shares plunged 0:21:02.240 --> 0:21:05.520 two weeks ago after it was warned about sliding European demand. 0:21:06.160 --> 0:21:11.159 Nobody wants it again. You can't bend the will of 0:21:11.200 --> 0:21:14.440 a market, all right. It has to come from they 0:21:14.560 --> 0:21:17.359 want it right, our own self interest. We see President 0:21:17.400 --> 0:21:19.679 Joe Biden in twenty twenty one laid out a target 0:21:19.720 --> 0:21:23.919 of deploying thirty gigawatts of offshore wind capacity during the 0:21:23.960 --> 0:21:28.520