{"id":289228,"date":"2023-11-29T17:36:54","date_gmt":"2023-11-29T16:36:54","guid":{"rendered":"https:\/\/climatescience.press\/?p=289228"},"modified":"2023-11-29T17:36:57","modified_gmt":"2023-11-29T16:36:57","slug":"bidens-ev-boondoggle-enriches-himself","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=289228","title":{"rendered":"Biden\u2019s EV Boondoggle Enriches\u00a0Himself"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"723\" height=\"479\" data-attachment-id=\"289236\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=289236\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0GettyImages-1151815644.jpg?fit=2127%2C1409&amp;ssl=1\" data-orig-size=\"2127,1409\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;4&quot;,&quot;credit&quot;:&quot;Getty Images\/iStockphoto&quot;,&quot;camera&quot;:&quot;NIKON D5100&quot;,&quot;caption&quot;:&quot;green plant leaves growing on coin stacking money saving business finance success wealth investment budget concept. stack coin on wood table with green blur background.&quot;,&quot;created_timestamp&quot;:&quot;1557570609&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;50&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.01&quot;,&quot;title&quot;:&quot;green plant leaves growing on coin stacking money saving business finance success wealth investment budget concept. stack coin on wood table with green blur background.&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"green plant leaves growing on coin stacking money saving business finance success wealth investment budget concept. stack coin on wood table with green blur background.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;green plant leaves growing on coin stacking money saving business finance success wealth investment budget concept. stack coin on wood table with green blur background.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0GettyImages-1151815644.jpg?fit=723%2C479&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0GettyImages-1151815644.jpg?resize=723%2C479&#038;ssl=1\" alt=\"\" class=\"wp-image-289236\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0GettyImages-1151815644.jpg?resize=1024%2C678&amp;ssl=1 1024w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0GettyImages-1151815644.jpg?resize=300%2C199&amp;ssl=1 300w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0GettyImages-1151815644.jpg?resize=768%2C509&amp;ssl=1 768w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0GettyImages-1151815644.jpg?resize=1536%2C1018&amp;ssl=1 1536w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0GettyImages-1151815644.jpg?resize=2048%2C1357&amp;ssl=1 2048w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0GettyImages-1151815644.jpg?resize=1200%2C795&amp;ssl=1 1200w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0GettyImages-1151815644.jpg?w=1446&amp;ssl=1 1446w\" sizes=\"auto, (max-width: 723px) 100vw, 723px\" \/><figcaption class=\"wp-element-caption\">green plant leaves growing on coin stacking money saving business finance success wealth investment budget concept. stack coin on wood table with green blur background.<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">From <a href=\"http:\/\/rclutz.com\/\">Science Matters<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By\u00a0<a href=\"https:\/\/rclutz.com\/author\/ronaldrc\/\">Ron Clutz<\/a><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/i0.wp.com\/www.zanmolko.com\/userfiles\/images\/Money-pit.gif?ssl=1\" alt=\"\"\/><\/figure>\n<\/div>\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><strong><em><mark style=\"background-color:rgba(0, 0, 0, 0);color:#00d084\" class=\"has-inline-color\">The Greenest thing about the New Green Deal is the Money.<\/mark><\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The spending on \u201cGreen Energy Projects\u201d is enormous and uncontrolled.&nbsp; Larry Behrens explains at Real Clear Energy Too Favored to Fail:\u201d&nbsp;<a href=\"https:\/\/www.realclearenergy.org\/articles\/2023\/11\/06\/too_favored_to_fail_taxpayers_bailout_bidens_green_friends_990550.html\"><strong>Taxpayers Bailout Biden\u2019s Green Friends.&nbsp;<\/strong>&nbsp;<\/a>Excerpts in italics wtih my bolds.<\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em><strong><mark style=\"background-color:rgba(0, 0, 0, 0);color:#00d084\" class=\"has-inline-color\">While America struggles to buy groceries, President Joe Biden has a<br>green slush fund worth billions of dollars, and he\u2019s not afraid to use it.<\/mark><\/strong><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><em><strong>Billions Disappear with Rivian Bankruptcy<\/strong><\/em><\/h5>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Recent revelations uncovered that the CEO and lobbyists of<strong>\u00a0Rivian, an electric vehicle manufacturer,<\/strong>\u00a0held a quiet meeting at the White House with<strong>\u00a0Biden\u2019s Climate Czar, John Podesta.<\/strong>\u00a0That\u2019s right, the same John Podesta who served as chairman of Hillary Clinton\u2019s ill-fated 2016 presidential campaign before being pulled from the ranks of profitable green consulting to\u00a0<strong>oversee distribution of $369 billion from the Inflation Reduction Act (IRA).<\/strong>\u00a0Biden selected a political operative with green company ties to dole out the goodies from one of the<strong>\u00a0largest slush funds in history.<\/strong>\u00a0Now green CEOs who are hemorrhaging cash are beating a path to his White House office, presumedly with hat in hand.<\/em><\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"615\" height=\"450\" data-attachment-id=\"289231\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=289231\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-623.png?fit=615%2C450&amp;ssl=1\" data-orig-size=\"615,450\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"image-623\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-623.png?fit=615%2C450&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-623.png?resize=615%2C450&#038;ssl=1\" alt=\"\" class=\"wp-image-289231\" style=\"width:760px;height:auto\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-623.png?w=615&amp;ssl=1 615w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-623.png?resize=300%2C220&amp;ssl=1 300w\" sizes=\"auto, (max-width: 615px) 100vw, 615px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><em><strong>According to media reports, Rivian is deep in the red. Last year, they lost $6.8 billion.<\/strong>&nbsp;In 2021, it was $4.7 billion, which is in addition to the $1 billion lost in 2020. These massive losses&nbsp;<strong>happened as EV manufacturers enjoyed large subsidies both to build and sell their vehicles<\/strong>. In fact, President&nbsp;<strong>Biden<\/strong>&nbsp;went out of his way to<strong>&nbsp;praise Rivian in early 2022,<\/strong>&nbsp;even though their stock had already lost half its value on its way to losing 87% of its value since 2021.&nbsp;<strong>Losing over $12 billion in less than three years<\/strong>&nbsp;would normally be a problem in the business world, but in the upside-down reality of Biden\u2019s green agenda, that&nbsp;<strong>gets you a meeting at the White House.<\/strong><\/em><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em><strong><mark style=\"background-color:rgba(0, 0, 0, 0);color:#00d084\" class=\"has-inline-color\">Tax dollars are flowing from the IRA so quickly that the Department<br>of Energy\u2019s Inspector General (IG) may be running out of adjectives.<\/mark><\/strong><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Earlier this month in testimony before the Senate, the IG said, \u201cthe current situation brings tremendous risk to the taxpayers.\u201d\u00a0<strong>Red flags about American dollars flowing to foreign companies or just being wasted here at home are going up<\/strong>, yet according to budget watchdogs, their concerns are met with deaf ears by senior Biden Administration officials. The IG notes there were\u00a0<strong>\u201cbillions and billions of dollars lost or stolen\u201d from federal Covid funds,<\/strong>\u00a0and Biden\u2019s slush fund is even bigger. To put it bluntly,\u00a0<strong>the green vault is wide open and the grifters are lining up.<\/strong><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><em><strong>\u201cGreen Banks\u201d Dole Out Taxpayer Cash<\/strong><\/em><\/h5>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Here\u2019s a particular galling example.<strong>&nbsp;One little known aspect of the IRA are so-called \u201cgreen banks.\u201d<\/strong>&nbsp;For greenies, the scheme is simple: regular banks will not fund their boondoggles, so they need&nbsp;<strong>a taxpayer backed entity to dole out cash<\/strong>. Unlike regular banks, these green banks&nbsp;<strong>do not need to make a profit to stay afloat because the government is their funder.<\/strong><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>New Mexico Governor Michelle Lujan Grisham was caught trying to set up a green bank without the trouble of going through the elected legislature. The&nbsp;<strong>board of the bank will be green non-profits<\/strong>&nbsp;who will be in charge because as the<strong>&nbsp;New Mexico climate czar<\/strong>&nbsp;put it, \u201cWe\u2019re talking about hundreds of millions of dollars\u2026This greenhouse gas reduction fund is a remarkable little beast.\u201d Recently, Grisham announced the green bank anyway. The slush fund is open for business, and everyone has their hand out.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Congress is watching the \u201cgreen bank\u201d scheme because they know it is ripe for abuse. The problem is clear: The White House put a political operative in charge of what is nothing more than a political fund. For Barack Obama, they were too big to fail, but<strong>\u00a0Joe Biden is taking it further. When it comes to his failed agenda, his green boondoggles are \u201ctoo favored to fail.\u201d<\/strong><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><em><strong>Biden\u2019s Wasted EV Subsidies Eclipse Solyndra<\/strong><\/em><\/h5>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Helen Raleigh reports at The Federalist&nbsp;<a href=\"https:\/\/thefederalist.com\/2023\/11\/24\/the-biden-administrations-electric-vehicle-subsidies-are-becoming-another-solyndra\/\"><strong>The Biden Administration\u2019s Electric Vehicle Subsidies Are Becoming Another Solyndra<\/strong><\/a>.&nbsp; Excerpts in italics wtih my bolds.<\/em><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em><strong><mark style=\"background-color:rgba(0, 0, 0, 0);color:#00d084\" class=\"has-inline-color\">Energy Secretary Jennifer Granholm made $1.6 million from<br>an electric car company the Biden administration boosted<br>that just went bankrupt.<\/mark><\/strong><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em><strong>Proterra, an electric bus and battery company<\/strong>&nbsp;that President Joe Biden touted as a success of his green energy initiative,&nbsp;<a href=\"https:\/\/freebeacon.com\/energy\/biden-said-ev-maker-proterra-was-getting-us-in-the-game-it-just-declared-bankruptcy\/\" target=\"_blank\" rel=\"noreferrer noopener\">filed for bankruptcy<\/a>&nbsp;in August. Last week, it finally&nbsp;<strong><a href=\"https:\/\/thedriven.io\/2023\/11\/14\/volvo-snaps-up-proterra-battery-business-in-bankruptcy-sale\/\" target=\"_blank\" rel=\"noreferrer noopener\">sold<\/a>&nbsp;its embattled battery business at a rock-bottom price as part of the bankruptcy proceeding<\/strong>. The rise and fall of Proterra demonstrates once again that politicians should refrain from betting taxpayers\u2019 money on business ventures to advance their political agenda.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>According to the&nbsp;<a href=\"https:\/\/www.wsj.com\/articles\/proterra-and-the-anatomy-of-an-ev-failure-125f70db\" target=\"_blank\" rel=\"noreferrer noopener\">Wall Street Journal<\/a>, Proterra has sold only 550 electric transit buses since its founding in 2004. Most of the sales were underwritten by government agencies with federal grants. Proterra\u2019s<strong>&nbsp;electric buses were&nbsp;<a href=\"https:\/\/whyy.org\/articles\/septas-cracking-battery-buses-raise-questions-about-the-future-of-electric-transit\/\" target=\"_blank\" rel=\"noreferrer noopener\">plagued with mechanical defects<\/a>&nbsp;and other&nbsp;<a href=\"https:\/\/commonwealthmagazine.org\/transportation\/t-notes-battery-buses-not-ready-for-primetime-yet\/\" target=\"_blank\" rel=\"noreferrer noopener\">performance issues<\/a>,<\/strong>&nbsp;such as limited range and long charging times. Besides government subsidies, the&nbsp;<strong>company only survived as long as it had due to powerful political connections.<\/strong>&nbsp;Former Michigan governor Jennifer Granholm, Biden\u2019s energy secretary, served on its board.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Despite all the quality issues of its EV buses,\u00a0<strong>Proterra went public in January 2021 and raised $650 million, more than three times its annual revenue.<\/strong>\u00a0A month after the company\u2019s IPO, Biden tapped Granholm as his energy secretary. Proterra\u2019s political connection to the Biden administration paid off in many ways.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><em>Surviving on Grants and Tax Credits<\/em><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><em>In April 2021, Biden took a virtual tour of a Proterra facility to promote his infrastructure plan. The proposal included<strong>&nbsp;<a href=\"https:\/\/www.wsj.com\/articles\/proterra-and-the-anatomy-of-an-ev-failure-125f70db\" target=\"_blank\" rel=\"noreferrer noopener\">$6.5 billion<\/a>&nbsp;in grants to help replace diesel-powered school and transit buses with electric ones.<\/strong>&nbsp;During the tour, Biden&nbsp;<a href=\"https:\/\/freebeacon.com\/energy\/biden-said-ev-maker-proterra-was-getting-us-in-the-game-it-just-declared-bankruptcy\/\" target=\"_blank\" rel=\"noreferrer noopener\">lauded<\/a>&nbsp;Proterra for \u201cgetting us in the game.\u201d He predicted that Proterra and other electric vehicle companies would&nbsp;<strong>\u201cend up owning the future.\u201d<\/strong><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Biden\u2019s<strong>&nbsp;2022 Inflation Reduction Act<\/strong>&nbsp;further enriched Proterra\u2019s coffer. The law had little to do with reducing inflation, but it gave&nbsp;<strong>massive government handouts to the green energy sector<\/strong>. For instance, IRA includes a $40,000 per vehicle tax credit for purchasing electric commercial vehicles and an additional tax credit for EV batteries.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Proterra\u00a0<a href=\"https:\/\/www.wsj.com\/articles\/proterra-and-the-anatomy-of-an-ev-failure-125f70db\" target=\"_blank\" rel=\"noreferrer noopener\">admitted<\/a>\u00a0in its quarterly report that \u201cthe availability of this\u00a0<strong>new unprecedented level of government funding<\/strong>\u00a0for our customers, suppliers, and competitors\u00a0<strong>to help fund purchases of commercial electric vehicles and battery systems<\/strong>\u00a0will remain an important factor in our company\u2019s growth prospects.\u201d Proterra\u2019s political profile rose even more after Biden appointed Gareth Joyce, CEO of Proterra, to serve on the President\u2019s Export Council in February this year.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><em>Backed by Biden, Buried by Biden<\/em><\/h5>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Excessive government spending under&nbsp;<strong>Biden has sparked&nbsp;<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-13\/core-us-inflation-rises-to-40-year-high-securing-big-fed-hike\" target=\"_blank\" rel=\"noreferrer noopener\">high inflation rates<\/a><\/strong>&nbsp;that were last seen in the 1970s. To bring inflation rates down, the Federal Reserve has aggressively<strong>&nbsp;raised interest rates<\/strong>. Higher rates increased production and operations costs for many companies. As legendary investor Warren Buffett famously said,<strong>&nbsp;\u201cOnly when the tide goes out do you learn who has been swimming naked.\u201d<\/strong>&nbsp;Proterra was one of those companies that had been caught \u201cswimming naked\u201d in this new environment.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>The company struggled because it had<strong>&nbsp;difficulty passing rising costs on to its existing customers<\/strong>, since most were government agencies with little budget flexibility.&nbsp;<strong>Nor could Proterra outsource its production overseas<\/strong>&nbsp;or import components at lower costs. Receiving government grants comes with strings attached. One requirement is that companies like Proterra must produce at least 70 percent of their EV components in America. Proterra couldn\u2019t afford to cut the prices of its EVs to drum up sales.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Finally, Proterra filed for&nbsp;<strong>bankruptcy<\/strong>&nbsp;in August. Government&nbsp;<strong>subsidies could not offset the financial pressure of rising inflation, higher interest rates, and falling sales.<\/strong>&nbsp;Last week, a Swedish automobile manufacturer,<strong>&nbsp;Volvo, bought Proterra\u2019s battery business for&nbsp;<a href=\"https:\/\/thedriven.io\/2023\/11\/14\/volvo-snaps-up-proterra-battery-business-in-bankruptcy-sale\/\" target=\"_blank\" rel=\"noreferrer noopener\">$210 million<\/a>,<\/strong>&nbsp;a great deal considering Proterra was&nbsp;<strong>valued at $1.6 billion a year ago.<\/strong><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Another party who got an excellent deal was&nbsp;<strong>Granholm<\/strong>. She&nbsp;<strong><a href=\"https:\/\/www.cnn.com\/2021\/05\/27\/politics\/jennifer-granholm-proterra-stock\/index.html\" target=\"_blank\" rel=\"noreferrer noopener\">sold<\/a>&nbsp;her Proterra shares for $1.6 million<\/strong>&nbsp;last year. They would have been<strong>&nbsp;worth nothing if she had held on<\/strong>&nbsp;to her Proterra shares until this<\/em><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em><strong><mark style=\"background-color:rgba(0, 0, 0, 0);color:#00d084\" class=\"has-inline-color\">August. The biggest loser of the whole Proterra saga is American taxpayers.<\/mark><\/strong><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><em><strong>No Good News for Electric Vehicles<\/strong><\/em><\/h5>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Proterra was not the only EV company that went under.\u00a0<strong>Michigan-based\u00a0<a href=\"https:\/\/www.wsj.com\/articles\/electric-last-mile-solutions-files-for-chapter-7-bankruptcy-11655098767?mod=article_inline\" target=\"_blank\" rel=\"noreferrer noopener\">Electric Last Mile<\/a><\/strong>\u00a0declared bankruptcy in June 2022.\u00a0<strong>Ohio-based\u00a0<a href=\"https:\/\/www.wsj.com\/articles\/lordstown-motors-bankruptcy-sues-foxconn-5c7a0f46?mod=article_inline\" target=\"_blank\" rel=\"noreferrer noopener\">Lordstown Motors<\/a>\u00a0<\/strong>went bankrupt a year later. Ironically, these companies benefited from the Biden administration\u2019s climate handouts, but the economic consequences of the same policies eventually doomed them. Even large automobile companies\u2019 EV units are struggling.\u00a0<strong>Ford estimates it will lose\u00a0<a href=\"https:\/\/www.wsj.com\/articles\/ford-electric-vehicles-subsidies-fossil-fuels-5d13079\" target=\"_blank\" rel=\"noreferrer noopener\">$3 billion<\/a><\/strong>\u00a0this year on its EV business. The company relies on sales of gas-powered vehicles and government subsidies to keep the EV business afloat.\u00a0<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><em><strong>What\u2019s In This for the Bidens?<\/strong><\/em><\/h5>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Fred Lucas explain in his Daily Signal article&nbsp;<a href=\"https:\/\/www.dailysignal.com\/2021\/11\/23\/hunter-bidens-cobalt-deal-with-china-could-increase-cost-of-his-fathers-push-for-electric-cars\/\"><strong>Hunter Biden\u2019s Cobalt Deal With China Increases Cost of His Father\u2019s Push for Electric Cars<\/strong><\/a>.&nbsp; Excerpts in italics with my bolds.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Presidential son&nbsp;<strong>Hunter Biden\u2019s<\/strong>&nbsp;most recent controversy\u2014<strong>assisting a Chinese company\u2019s purchase of a large cobalt mine\u2014is linked directly to a top Biden administration policy of promoting&nbsp;<a href=\"https:\/\/www.dailysignal.com\/2021\/10\/21\/proposed-electric-vehicle-tax-credits-benefit-unions-wealthy-individuals-not-environment\/\">electric vehicles<\/a>.<\/strong><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em><strong>Cobalt<\/strong>, a relatively rare and expensive mineral, is an&nbsp;<strong><a href=\"https:\/\/www.theverge.com\/2018\/6\/21\/17488626\/elon-musk-cobalt-electric-vehicle-battery-science\">essential part<\/a>&nbsp;of batteries used to power electric automobiles.<\/strong>&nbsp;The COVID-19 pandemic also made U.S. officials and the public much more aware of Communist China\u2019s control of the&nbsp;<a href=\"https:\/\/www.dailysignal.com\/2021\/10\/29\/trade-expert-breaks-down-supply-chain-crisis\/\">supply chain<\/a>&nbsp;for drugs and other products.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em><strong>The younger Biden, 51,<\/strong>&nbsp;is a one-time partner in China-based&nbsp;<a href=\"https:\/\/www.dailysignal.com\/2021\/07\/28\/invest-in-joe-how-hunter-bidens-financial-deals-extend-beyond-ukraine\/\">Bohai Harvest RST<\/a>, known as&nbsp;<strong>BHR,<\/strong>&nbsp;and reportedly remains a&nbsp;<strong>stakeholder<\/strong>.&nbsp;<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>The New York Times&nbsp;<a href=\"https:\/\/www.nytimes.com\/2021\/11\/20\/world\/hunter-biden-china-cobalt.html\">first reported<\/a>&nbsp;over the weekend that&nbsp;<strong>BHR facilitated mining company China Molybdenum\u2019s $2.65 billion purchase of a cobalt and copper mine<\/strong>&nbsp;from an American company, Freeport-McMoRan.&nbsp;<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Rep. Ken Buck, R-Colo. told The Daily Signal,<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>The latest news [that] he assisted a Chinese company purchase one of the largest cobalt mines is another example of&nbsp;<strong>Hunter Biden using his influence to line his pockets and help a foreign adversary.<\/strong>&nbsp;Conducting oversight of Hunter Biden\u2019s questionable ethics and dealings that undermine our national security will continue to be a top priority for Oversight [Committee] Republicans.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>The committee\u2019s ranking Republican, Rep. James Comer, R-Ky., tweeted: \u201cBy helping Chinese companies mine rare minerals in Congo,\u00a0<strong>Hunter Biden is helping Communist China corner the Electric Vehicle market that<a href=\"https:\/\/twitter.com\/POTUS\">\u00a0@POTUS<\/a>\u00a0is subsidizing here at home.\u201d\u00a0<\/strong><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>Summary:<\/strong><\/h5>\n\n\n\n<p class=\"wp-block-paragraph\">The campaign is to force electric vehicles upon Americans who otherwise do not want them.\u00a0 And why?\u00a0 It\u2019s not about climate change, not about the environment.\u00a0 It\u2019s about greed not green.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"723\" height=\"542\" data-attachment-id=\"289233\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=289233\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0green-money-1068x801-1.jpg?fit=1068%2C801&amp;ssl=1\" data-orig-size=\"1068,801\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"0green-money-1068&amp;#215;801-1\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0green-money-1068x801-1.jpg?fit=723%2C542&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0green-money-1068x801-1.jpg?resize=723%2C542&#038;ssl=1\" alt=\"\" class=\"wp-image-289233\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0green-money-1068x801-1.jpg?resize=1024%2C768&amp;ssl=1 1024w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0green-money-1068x801-1.jpg?resize=300%2C225&amp;ssl=1 300w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0green-money-1068x801-1.jpg?resize=768%2C576&amp;ssl=1 768w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0green-money-1068x801-1.jpg?resize=800%2C600&amp;ssl=1 800w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0green-money-1068x801-1.jpg?resize=600%2C450&amp;ssl=1 600w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0green-money-1068x801-1.jpg?resize=400%2C300&amp;ssl=1 400w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0green-money-1068x801-1.jpg?resize=200%2C150&amp;ssl=1 200w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0green-money-1068x801-1.jpg?w=1068&amp;ssl=1 1068w\" sizes=\"auto, (max-width: 723px) 100vw, 723px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>From Science Matters By\u00a0Ron Clutz The Greenest thing about the New Green Deal is the Money. The spending on \u201cGreen Energy Projects\u201d is enormous and uncontrolled.&nbsp; Larry Behrens explains at Real Clear Energy Too Favored to Fail:\u201d&nbsp;Taxpayers Bailout Biden\u2019s Green Friends.&nbsp;&nbsp;Excerpts in italics wtih my bolds. While America struggles to buy groceries, President Joe Biden [&hellip;]<\/p>\n","protected":false},"author":121246920,"featured_media":289236,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"The Greenest thing about the New Green Deal is the Money.","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691824870,691821287,691819509,691818820,691824869,691818772],"class_list":{"0":"post-289228","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-electric-vehicle-subsidies","9":"tag-green-banks","10":"tag-green-energy-projects","11":"tag-inflation-reduction-act-ira","12":"tag-john-podesta","13":"tag-u-s-president-joe-biden","15":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0GettyImages-1151815644.jpg?fit=2127%2C1409&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1deY","jetpack-related-posts":[{"id":294191,"url":"https:\/\/climatescience.press\/?p=294191","url_meta":{"origin":289228,"position":0},"title":"Biden&#8217;s Green New Deal Turns Disaster, Offshore Wind Project Axed","author":"uwe.roland.gross","date":"08\/01\/2024","format":false,"excerpt":"In a major blow to Biden's Green New Deal, a giant offshore wind project that was in the works has been canceled off the coast of New York.","rel":"","context":"In \"Green new deal\"","block_context":{"text":"Green new deal","link":"https:\/\/climatescience.press\/?tag=green-new-deal"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0Screenshot-2024-01-08-084116.png?fit=1200%2C615&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0Screenshot-2024-01-08-084116.png?fit=1200%2C615&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0Screenshot-2024-01-08-084116.png?fit=1200%2C615&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0Screenshot-2024-01-08-084116.png?fit=1200%2C615&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0Screenshot-2024-01-08-084116.png?fit=1200%2C615&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":267106,"url":"https:\/\/climatescience.press\/?p=267106","url_meta":{"origin":289228,"position":1},"title":"UAW to Biden: Where are those Good Paying Green Jobs?","author":"uwe.roland.gross","date":"13\/07\/2023","format":false,"excerpt":"UAW President Shawn Fain also criticised Biden\u2019s subsidies for billionaires, which don\u2019t seem to be \u201ctrickling down\u201d to members.","rel":"","context":"In \"Green Agenda\"","block_context":{"text":"Green Agenda","link":"https:\/\/climatescience.press\/?tag=green-agenda"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0106966084-1635279914697-gettyimages-130410326-pe0078255.jpeg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0106966084-1635279914697-gettyimages-130410326-pe0078255.jpeg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0106966084-1635279914697-gettyimages-130410326-pe0078255.jpeg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0106966084-1635279914697-gettyimages-130410326-pe0078255.jpeg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0106966084-1635279914697-gettyimages-130410326-pe0078255.jpeg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":380921,"url":"https:\/\/climatescience.press\/?p=380921","url_meta":{"origin":289228,"position":2},"title":"Climate Realism Gains Ground in Europe \u2013 Live from Budapest!","author":"uwe.roland.gross","date":"30\/05\/2025","format":false,"excerpt":"In Episode #159 of The Heartland Institute\u2019s The Climate Realism Show, Anthony Watts, Linnea Lueken, H. Sterling Burnett, and Jim Lakely cover the rise of climate realism in Europe and the Crazy Climate News of the Week. That includes: an alarmist imploring us not to \u201cshatter the climate,\u201d climate clergy\u2026","rel":"","context":"In \"big green agenda\"","block_context":{"text":"big green agenda","link":"https:\/\/climatescience.press\/?tag=big-green-agenda"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/05\/0Screenshot-2025-05-30-171850.png?fit=1200%2C679&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/05\/0Screenshot-2025-05-30-171850.png?fit=1200%2C679&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/05\/0Screenshot-2025-05-30-171850.png?fit=1200%2C679&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/05\/0Screenshot-2025-05-30-171850.png?fit=1200%2C679&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/05\/0Screenshot-2025-05-30-171850.png?fit=1200%2C679&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":213558,"url":"https:\/\/climatescience.press\/?p=213558","url_meta":{"origin":289228,"position":3},"title":"A history lesson ahead of Biden\u2019s Green New Tax","author":"uwe.roland.gross","date":"14\/08\/2022","format":false,"excerpt":"Proponents have dubbed the bill the \u201cInflation Reduction Act\u201d because they know it sounds better than the truth: \u201cBiden\u2019s Green New Tax.","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/08\/image-508.png?fit=911%2C534&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/08\/image-508.png?fit=911%2C534&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/08\/image-508.png?fit=911%2C534&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/08\/image-508.png?fit=911%2C534&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":230981,"url":"https:\/\/climatescience.press\/?p=230981","url_meta":{"origin":289228,"position":4},"title":"GOP Vows to Block Climate Reparations","author":"uwe.roland.gross","date":"25\/11\/2022","format":false,"excerpt":"The video also discusses new plans for vaccine passports. A clip of Biden funding green projects across Europe attracted the response \u201c\u2026 he\u2019s supposed to be the President of the United States of America, not the President of the rest of the world\u2026\u201d.","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/11\/00Screenshot-2022-11-25-125403.png?fit=1200%2C638&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/11\/00Screenshot-2022-11-25-125403.png?fit=1200%2C638&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/11\/00Screenshot-2022-11-25-125403.png?fit=1200%2C638&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/11\/00Screenshot-2022-11-25-125403.png?fit=1200%2C638&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/11\/00Screenshot-2022-11-25-125403.png?fit=1200%2C638&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":289164,"url":"https:\/\/climatescience.press\/?p=289164","url_meta":{"origin":289228,"position":5},"title":"More than 3,000 auto dealers sign letter opposing Biden&#8217;s electric vehicle mandate","author":"uwe.roland.gross","date":"29\/11\/2023","format":false,"excerpt":"Electric vehicles 'are stacking up on our lots,' car dealers write to Biden https:\/\/www.foxbusiness.com\/politics\/3000-auto-dealers-sign-letter-opposing-bidens-electric-vehicle-mandate By\u00a0Thomas Catenacci FOXBusiness A coalition of more than 3,000 auto dealers nationwide is sending an open letter to President Biden, calling on him to \"tap the brakes\" on his administration's\u00a0aggressive electric vehicle (EV) push. The coalition\u2026","rel":"","context":"In \"auto dealers\"","block_context":{"text":"auto dealers","link":"https:\/\/climatescience.press\/?tag=auto-dealers"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0mfrack_cinematic_photo_of_man_and_future_of_electric_cars_af3b5ba0-c78f-4de8-a0a9-c7676d83f328.jpeg?fit=1200%2C673&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0mfrack_cinematic_photo_of_man_and_future_of_electric_cars_af3b5ba0-c78f-4de8-a0a9-c7676d83f328.jpeg?fit=1200%2C673&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0mfrack_cinematic_photo_of_man_and_future_of_electric_cars_af3b5ba0-c78f-4de8-a0a9-c7676d83f328.jpeg?fit=1200%2C673&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0mfrack_cinematic_photo_of_man_and_future_of_electric_cars_af3b5ba0-c78f-4de8-a0a9-c7676d83f328.jpeg?fit=1200%2C673&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0mfrack_cinematic_photo_of_man_and_future_of_electric_cars_af3b5ba0-c78f-4de8-a0a9-c7676d83f328.jpeg?fit=1200%2C673&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/289228","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/users\/121246920"}],"replies":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=289228"}],"version-history":[{"count":7,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/289228\/revisions"}],"predecessor-version":[{"id":289238,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/289228\/revisions\/289238"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/media\/289236"}],"wp:attachment":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=289228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=289228"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=289228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}