Peak EV: Electric Vehicles Will Fade As Their True Costs Become Clear
BY TYLER DURDEN
FRIDAY, APR 14, 2023 - 08:20 PM
Authored by Doug French via The Mises Institute,
“On Wednesday, the Environmental Protection Agency plans to announce tough new tailpipe emission standards designed to effectively force the auto industry to phase out the sale of gas-powered cars,” reports The Verge, with the provocative headline “The End Is Nigh for Gas-Powered Cars.”
Environmental, social, and corporate governance (ESG) is the newest religion, and we all know who the practitioners are. Electric vehicle (EV) owners sing “Hallelujah” when they pull out of their garages. The investor-class ESG evangelists believe the new belief is in its beginnings. Whatever the Biden EPA does, investor Harris Kupperman thinks it’s likely just the Church of What’s Happening Now.
Kupperman, referred to as Kuppy by Real Vision’s Maggie Lake, told her, “Well, I think we’re nearing peak ESG, which is probably a good thing, honestly.” He explained,
And it’s like religions kind of come, they peak, they die out. No one practices Roman religions anymore. I can name three of the gods and I’m a Roman history major.
These things, they peak, they crest, and this little religion of ESG, it’s been around for a while. It peaked. And now there’ll be some die hard adherence, but I think the vast majority of investors want to make money. And it’s great if they’re doing something that has a social good, but most of them just want to save for their retirement.
https://www.zerohedge.com/technology/peak-ev-electric-vehicles-will-fade-their-true-costs-become-clear
