If you look in Europe as well, the nations with the most with the
highest electricity prices are the ones that have the most wind and solar, so
it's not cheaper. So the first one is cost. The second one is
blackout. Since we've talked about we're going to see more of those. The
third impact of the green breakdown is a reduction of personal choice, if you
will, forced adoption of electric force, adoption of appliances, and then the
last I call transnational energy shocks like we've seen in Europe in the last two
years. You're listening to Carrie Letz's Financial Survival Network, where you get valuable
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ever, and welcome. You aren't listening to and watching the Financial Survival Network.
I am your host Carrie Let's Happy twenty twenty four eight. It's been
chilly here in Florida. If the climate's getting warmer, they didn't tell us
about it, but hey, the good news is that with a stroke of
the magic wand pretty soon you will be driving an EV whether you want to
or not. Well, Steve Gore is here with us now, Steve noted
EV and just noted skeptic, shall we say about climate and all other things.
Steve, great to have you back on the show. So what is
going on here with our president and climate change and getting rid of the gasoline
powered vehicles, getting rid of full fired power plants. Are we just going
to live like in a nuclear desert? Well, we just said COP twenty
eight. Great to join you, Carrie, Happy New Year. We just
had the COP twenty eight about a month ago, twenty eighth conference of the
Parties. Eighty thousand people came to Dubai, United Arab Emirates and just about
all of those folks flew in. Too many people live in the UAE with
their private jets and they're a commercial aircraft. For each a pound of jet
fuel you burn, you emit three pounds of carbon dioxide. And so CUP
twenty eight, the United Nations Climate Conference was literally the biggest carbon dioxide emitting
event of the year. Oh that's nice to know, but yeah, but
they're really not having much of an effect on either a global temperatures or the
use of coal, oil, and natural gas fuels, which continue to be
about eighty percent of global energy use. So what is it they're really doing
here, Because you know, it's like, if you remember, prior to
World War One, European governments passed the law outlawing war and we all know
how well that worked out. Is this kind of the same thing here,
Yeah, it's a little bit crazy. The folks there want to get rid
of coal, oil and natural gas. Fativol, the Executive director of the
International Energy Agency, said in May twenty twenty one, if governments are serious
about the climate crisis, there can be no new investments in oil, gas
and coal from now from this year, And the delegates at COP twenty eight
actually signed a agreement saying that we would phase out coal, oil, and
natural gas, so called fossil fuels. Our Climate Envoy John Kerrey actually called
for an elimination of all coal fired power plants around the world. There are
about sixty five hundred coal firepower units in the world today, about one thousand
are in planning or in building, and it's just a remarkable statement, very
callous. Reminds me of Marie Antoinette's let them e cake the poor people.
Thirty five percent of the world's electricity today is generated by coal fired power plants,
and yet we have a shortage of electricity around the world. We have
about seven hundred million people that don't have access to electricity and another two billion
that have blackouts or brownouts every day or every other day. And if we
were eliminating all the coal fire power plants, these folks just wouldn't have electricity.
So it's a crazy statement in many, many ways. The great news
is that we're we're putting scrubbers on plants and around the world, we're eliminating
pollution from coal fired plants. But the idea that we're going to stop these
seas from rising if we get rid of all coal fired power plants, that
is a modern superstition. Well, you know, Steve, when I was
a kid, everyone was crying about acid rain coming up all fired power plants.
So they went and invested hundreds of millions of dollars these scrubbers. They're
really expensive. So now there's no more yellow coming out sulfur dioxide. I
haven't heard any measured thing rain in decades. Now. They moved the gold
Posts and said you got to get rid of the carbon dioxide, which you
and I both know is impossible. Yeah, it really is impossible. It's
but one thing about acid rain eight. They hit all these lakes in the
eastern United States and in Europe and places, and they said this was due
to silver dioxide coming out of our power plants. But after we we basically
eliminated it in the United States at sawmore in seventy or eighty percent, they
found that the acidity of the lakes really didn't change. It was due to
other natural natural factors. But you're right, the world's on a quest to
get to zero by twenty fifty, at least the wealthy part of the world,
the United States, Europe, Canada, New Zealand, Australia and a
few other nations. That is is beyond a rew goal. That's an impossible
dream. We emit carbon dioxide in everything we do. It is not going
to be something that's eliminated. And that's why my book Green Breakdown says that
this push for renewable energy, this push for it as there, is going
to break down over the next decade or two and people are going to get
back to demanding low cost, reliable energy and reducing real pollution but not carbon
dioxide. All right, So it just amazes me how naive people are,
because you know, when we don't have electric in the midst of a huge
snowstorm or a heat wave, people die, don't they do? They do?
Yeah, it can be very serious, and particularly we've seen it in
the February twenty twenty one disaster in Texas. Four and a half or five
million people did not have electricity for three days. We had somewhere between two
hundred and seven hundred people die during that thing. That's much more than a
major hurricane. And you know, we seem to be on a trend to
make everything electric. We're going to make our cars electric, and we're going
to make our cooking electric. So if the power goes off, not only
your lights are going to be out, but you won't be able to drive
your car, you won't be able to cook your food. And we are
trending towards a weakening electric grid. Data from the US Department of Energy says
that back in about ten years ago twenty thirteen fourteen, we had an average
outage of about three and a half hours a year for each electrical user.
But now that's up to six, seven or eight hours a year over the
last three years. So we've more than doubled the average outage time. I'm
talking about accumulative outage for the year, and it's going to get worse and
worse as we put in more intermittent wind and solar. So what are they
thinking, Well, people are going to learn the hard way, fortunately,
and there's there's papers coming out of our electricity industry all the time saying that
we're going to have problems in the next year or two. In Texas this
last year, they didn't have outages, but they issued ten electricity shortage alerts
in August and September. They said, don't plug in your electric vehicle,
don't run your air conditioner. We don't have enough electricity. And that is
really the wrong trend. And the more more we pushed these renewables, the
more problems we're going to have. Yeah. So look, I mean,
I'm a big electric car person, but not for any of the perceived environmental
benefits or whatever. I think. In the case of Tesla, they've they've
effectively built a better mouse trap the car. Really driving experience, technology,
safety is just superior to normal car in every way and accept except that,
maybe I've got to say except range. All right, I'll choose with range,
but not as much with the Tesla as with other cars. And what
else I don't know. Well, Tesla has been amazing. They have really
cool, cool, fast cars, and we've in tremendous advances in lithium ion
batteries enabling it. But there are still some issues. Cold weather in the
north is a problem. If you get down to about ten degrees Fahrenheits,
you have to have a heated garage to charge your car. Insurance is an
issue too. The figures say, I think that that electric car users pay
about seventy percent more for insurance that I look of us an engine car.
So very still there, it's it's still is kind of a upper class kind
of a thing. And as it comes as a comes down, it'll penetrate
markets more and more. But but right now the market's having a little bit
of a problem. There's a lot of the inventory's are ray up about it,
about three hundred percent for Ford and GM, they have decided to slow
down some models. And hey, I'm not I'm not anti electric vehicle.
I just don't think governments ought to be forcing everybody to get it on the
path, the path we're headed for. Uh less that the market take its
path and eventually we'll get there. If that better, But to go if
it makes sense, right, Yeah, I mean I love it, but
yeah, forget it. When it comes to cost of repairs, it's double.
The insurance is fifty percent higher. Well, so whatever I save in
energy costs for gasoline, it's made up for in those other things. Plus
you got like subscription fees and stuff that you don't have on a regular car.
But look it go. Hey, you know that these people don't care
about that. I will also mention that the you know that the idea that
you could just mandate these things and everybody's going to go just doesn't happen.
But the reason why Ford, GM and Audi and others are failing is because,
look, it still is a cutting edge technology product. Nobody wants to
be on the bleeding edge of technology in order to make people give up their
current thing, which is working fine in their opinion, in your opinion,
then you've got to add some amazing benefits. No other car company but Tesla
does that. Perhaps by D will follow them. Up, but Tesla is
doing it otherwise, these cars are really inferior to what these companies are offering
now, and that's why they're failing. Weather In terms of overall driving experience,
there's still way ahead, no doubt about that anyway. And another big
thing about with this electricity is to put all these evs on the road,
we have to get our grid power cranked up. And they're also talking about
getting rid of gas powered stoves, gas appliances, and according to a study
by the New England Independent System Operator, that takes as much electricity as well
as adding electric cars. So there's really going to be a big demand.
And at the same time, we're going to shut down all the cold plants
and a lot of the nuclear plants. You know, we're really coming in
the wrong direction in many ways. Yeah, it's crazy, so but you
know in the end, what's going to sync this is it's just not affordable.
Right. Well, there's four impacts I think of the breakdown. One
is electric prices, and I often show a chart when I present that shows
the top twelve wind states in the United States, and eight of those twelve
states have prices that are rising faster than the national average because you have to
back up the wind systems and you also have to build transmission out to remote
areas. California is an example as well. California's electricity rates are double any
Western state right now, Green California, and they're going to go much much
higher. If you look in Europe as well, the nations with the highest
electricity prices are the ones that have the most wind in solar, so it's
not cheaper. So the first one is cost, the second one is blackout.
Since we've talked about we're going to see more of those. The third
impact of the green breakdown is a reduction of personal choice, if you will,
forced adoption of electric forced adoption of appliances. And then the last I
call transnational energy shocks like we've seen in Europe in the last two years.
Their electricity prices are up three times as high as they wear three years ago,
and their natural gas prices up two and a half times, and so
they've had a real problem. They've had a drop and standard of living in
Europe. They've told people in England to stop bathing to save energy, or
to to shower with a friend. But it's kind of sad they have people
putting up a newspaper on the inside of their windows to try and insulate their
houses because they're getting energy bills that are the two thousand pounds over the winter.
I mean, they're very expensive. So and a lot of this is
based on the big push for renewables. So these things are going to force
people to get back to what's sensible. And in any case, they're not
going to have a measurable effect on the climate, which is dominated by natural
factors. Not what we're doing with our cars at our industry right could not
agree with you more, all right. So eventually though, we're going to
understand that these things it's just not affordable. We can't do it, can
we. Yeah, I think it's going to be very, very tough.
Another answer, batteries are not the as well. They're talking about grid scale
batteries for a lot of this stuff. But if you look at the cost
of batteries to back up a wind system for a whole day, the batteries
to do that require five times as much as the wind system itself, and
then the only last half as long. So you're really talking in a ten
to one factor, ten times as expensive as the wind or solar system is
the cost of the batteries, So that's not going to work very well.
By the way, we got another little issue too with these lithium batteries.
You know what, I guess the biggest cause of fires is in New York
City right now. Yeah I heard that. Yeah, e bikes are blowing
up fighting batteries. Yeah, they've had a couple of hundred fires in the
last couple of years and a lot of people injured. And this is happening
all over the world, Australia, many other major cities. These lithium batteries
have this bit side effect. By the way, if a car catch is
on fire now in Europe, what they're doing is they pick up an evy
that's on fire and they try and put it into a big tank of water
because they can't put it off any other way. So we need to get
you know, we need to get the improvements going along. We need to
get better safety and a lot of other things totally do And yeah, so
what's it going to take for the world to come to its collective senses here
other than people dying, which they don't seem to care about at all.
Yeah, No, I predicted this breakdown ten years in the row, in
the future. But we're starting to see some of this already. If you
look off the east coast, about half of the wind systems have pulled out.
To put wind systems off the east coast along New Jersey and Massachusetts,
New York. They can't afford the cost of doing it at the prices that
they quoted. In England, they just did an auction for Onshore wind and
they had no bidders, so they got to raise the prices. They're going
to allow them to generate electricity at a Zeeman's Wind just got bailed out in
Germany. Ten billion euros was the bailout from the German government because their system
is failing. We have, as we talked about, the ev breakdown a
little bit, and then then the electric u rather the renewable energy companies have
been have their stocks have been falling for the last three years. Now.
You can go look at the Renix index r E n I execs and that's
been down for the last three years. So, uh, we're starting to
see a problem with these renewable systems, despite the fact that governments are pushing
them so heavily. Yeah, okay, so you know but it doesn't seem
like the people. Are the people of the world patching onto this steed.
If you're a homeowner, automobile owner, whatever business are, they are they
waking up to this reality slowly. I think that's that real fast. Right
now, we still have many, many places saying they're going green, but
we're going to see more and more problems. One of the things that's occurring
though, is putting out up all as wind and solar requires vast amounts of
land, and we're starting to see this being opposed in places like Michigan and
Ohio and other places. People don't want to pay for it. They don't
want the land to be taken up by these systems. See Robert Bryce tracks
these rejections of renewable systems, and that's been rising quite a bit over the
last few years. So it's getting tougher and tougher for these things to be
deployed. And the goal of fifty eighty or one hundred percent renewable is far
far out of reach. All right, Well, so maybe the world is
going to come to it. Sens is, Hey, we want to read
your work, We want to find out more about you, Steve, Where
do you go to get the latest from Steve. Right so, my books
The Mad Mad Mad World of Climatism, Green Breakdown, The Coming Renewable Energy
Fail. I think you get signed copies of those from my website Steve Gorham
G O R E H A M dot com. They're also on Amazon and
there are ebooks available as well. As a matter of fact, Green Breakdown
was a number one in the energy policy category last week. It jumps up
and down, but it's doing pretty well. So you know, if people
are worried about that solar farm next to them, or the wind system in
the next county, or losing their gas stove or their gasoline car, they
really should read this book and push back on their leaders. All right,
Well that's a good thing. Hey, you've got a question for Steve myself
kl at Carrie lets dot com. The link to Steve's site is on our
site, Financial Survival Network dot com. Go there, pick that link.
While you're there, subscribe to our newsletter. Steve. Always a pleasure.
Thanks for stopping by. Until the next time, Carrie, Thanks for listening
to Carrie Letz's Financial Survival Network your solution to today's trying times. For the
latest, go to Financial Survivalnetwork dot com Financial Survival Network now more than ever,