The Great EV Con

Led by an elderly man experiencing cognitive decline, the Biden administration has launched a strident effort to promote electric vehicle (E.V.) sales.  This push is part of a globalist climate change agenda that ignores the unreliability of renewable energy during winter storms and heat waves.  The unreliability of green energy sources was illustrated by the 2021 winter storm in Texas, which paralyzed the state’s wind energy system — the second largest energy source — leaving some Texans unable to flush their toilets or power their electric vehicles.  Now E.V. sales, for a variety of reasons, are deservedly losing momentum among  U.S. buyers.  

The decline in sales persists despite three critical factors favoring non–fossil fuel energy generation: (1) the world’s rising investment of billions of dollars in E.V. technology; (2) rising tailpipe emissions regulations; (3) apocalyptic claims tied to climate change that are part of the Western world’s war on fossil fuels, gas stoves, and homes heated by natural gas.  While American electric vehicle sales rose rapidly during the first eleven months of 2023, they plateaued in November.  

In other words, even though E.V. sales initially cannibalized the market for gas and diesel vehicles during 2022 and 2023 as financial analysts promoted exchange-traded funds (ETFs) in E.V.s as part of an investment scheme to transform both the economy and energy production, these speculative chickens have now come home to roost.

Two statistics highlight this outcome.  First, the empirical evidence shows that luxury E.V.s depreciate faster than vehicles powered by internal combustion engines.  Second, Ford Motor Company recently revealed that it incurred a loss of $4.7 billion on its electric vehicles.

story continues about dealers pulling back

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