Watts Up With That by Duggan Flanakin 2/22/2020
Will this be another disaster for consumers?Tesla’s stock market value is already bigger than Ford and General Motors combined, says a report in Forbes magazine. Elon Musk’s company had already received nearly $5 billion in federal subsidies by 2015, helping him amass a net worth of $31 billion. Who says government cannot make anyone rich?
But hold on. An ascendant Bernie Sanders has called for a massive expansion of government-run electricity production. He claims to be no friend of billionaires and is running against multiple billionaires, including two Democrat candidates and 23 contributors to Mayor Pete’s campaign.
But he sure is helping the rich. Sanders and many other politicos have championed a multi-state effort to end the sale of vehicles with internal combustion (IC) engines. So have several European nations. Related goals include phasing out coal, oil and natural gas for heating, electric power generation and other uses.
As Politico reports, a major part of Sanders’ $16 trillion Greener New Deal allocates massive new funding for the four existing “power marketing administrations†that are overseen by the Department of Energy, Tennessee Valley Authority and a new federal agency. The money would go to vastly expand their solar, wind and even geothermal power production.
More:
https://wattsupwiththat.com/2020/02/22/the-mad-rush-to-electric-vehicles/
