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In the US, EV inventories are
up three hundred percent from a year ago.

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There's very poor demand for EV pickup
trucks. The guys who have pickup

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trucks don't seem to be too interested. Ford Motor has announced that they're losing

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between forty and sixty thousand on each
EV sold. They're projecting a four and

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a half billion dollar loss this year
from their EV business. Both Ford and

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GM have moved out their new models
and we sort of I think we have

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an early adopter phase that is over. You're listening to Carrie Letz's Financial Survival

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00:00:30,079 --> 00:00:35,719
Network where you get valuable information you
just can't find anywhere else to thrive in

9
00:00:35,759 --> 00:00:41,200
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00:00:41,759 --> 00:00:47,479
Go to Financial Survivalnetwork dot com and
get your free newsletter and gift. Financial

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Survival Network now more than ever,
and welcome. You are listening to and

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watching the Financial Survival Network. Come
your host. Carrie Let's say so.

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The green economy, it's wonderful.
Will just to all be living in this

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pristine environment. The earth will be
restored to its former grandeur and everyone will

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be happy. Right, well,
not so fast, Yes, Environment very

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important. We're all we all believe
in the same things clean water, clean

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air, and the good environment to
raise your children and your family. And

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it's just a question of how bad
are things what do you need to do

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to get there? Steve Gorham,
author of Green Breakdown The Coming Renewable Energy

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Failure. You title might be a
little bit late on the score at Steve,

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We're thrilled to have you on the
show. Hey, so how bad

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are things? Are things really getting
worse? Are they getting better? In

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the environment ary great to join you. Yeah, they're actually getting better.

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And my prediction of a green breakdown
or first and net zero and actually jecting

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out about a decade, but it
appears that that is closer. We have

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a lot of things going on around
the world that show that people are stepping

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back from that zero. But you're
right, pollution is we've made great strides.

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One of the great untold stories in
the United States is how much better

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the air is than it was thirty
forty years ago. I remember in the

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nineteen sixties driving near Chicago, south
of Gary and having our windshield coated with

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something coming from the steel mills.
We had to pull over and wash the

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windshield off. My grandfather had a
coal for us in his basement in the

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nineteen fifties, and after it snowed
in Chicago for about four or five days,

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there would be black dust on all
of the snow you could see from

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the coal. And young folks that
listen don't know what spring cleaning was for.

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Literally, in the nineteen fifties,
people would every spring washed down all

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the walls on the inside of their
house to remove the coal dust that was

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uncleaning. But we don't have to
do that anymore. Our air is very,

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very much clearer. Yeah, that
is a fact. And I remember

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driving into New York City from New
Jersey where I grew up and seeing this

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huge yellow cloud hovering over Manhattan and
that was all the coal fired power plants.

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But look like without the government pushing
businesses industry, do you think things

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would have improved anyway? I think
as a commodation the government helped. And

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we had many states. In nineteen
fifty there there were no statewide laws for

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pollution, but by nineteen sixty they
just about all had them. And then

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the clean erect came in I think
sixty nine or so. But the problem

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is the world has gotten off track. Where we used to reduce a real

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pollution, and we've done a great
job. APA numbers show our air pollutants,

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the six major pollutants are down about
eighty percent since nineteen eighty, probably

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much much more since the fifties.
What comes out of the tailpuppy or car.

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The volatile organic compounds are down ninety
eight percent since nineteen seventy. But

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now we're chasing this idea that carbon
dioxide is a pollutant. We've really gotten

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off track. Carbon dioxide is an
odorless, harmless, invisible gas. It

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doesn't cause smoke or smog. We
burn sugars in our body and every day

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we exhale about two pounds of carbon
dioxide each person, and it makes the

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plants grow. It's you know,
I like to ask when I'm speaking to

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audiences, what do cannabis growers know
that the EPA apparently doesn't know? And

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the answer is that CO two is
green. Every marijuana grower with his or

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her salt is literally pumping carbon dioxide
into the greenhouse to make the crops grow

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bigger and fast. Oh, we've
got to stop them. They got to

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be stopped here. We've got a
lot on track. We need to continue

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to reduce real pollution. But this
war on carbon dioxide and this plant for

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zero by twenty fifty really is not
the proper way to go, all right,

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So what is happening in the marketplace? Besides Tesla? There is isn't

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an auto company on the planet that
can make money on evs. Maybe a

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couple of Chinese ones, but they're
using slave labor and fourth League all that

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a byd Yeah, the electric vehicle
market has hit a speed momp, if

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you will. In the US,
EV inventories are up three hundred percent from

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a year ago. There's very poor
demand for EV pickup trucks. The guys

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who have pickup trucks don't seem to
be too interested. Ford Motor has announced

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that they're losing between forty and sixty
thousand on each EV sold. They're projecting

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a four and a half billion dollar
loss this year from their EV business.

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Both Ford and GM have moved out
their new models, and we sort of

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I think we have an early adopter
phase that is over. Many of the

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folks that wanted to cool Tesla's and
wanted EV's for a second car have purchased

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them. Now we have people that
are driving long distances, or they're in

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cold climates and the batteries don't charge
well, or they're in apartments and there's

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no way to charge r EV except
across the public walkway. So you know,

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it's slowing down a little bit.
All right, I'm going to propose

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a reason for this to you,
okay, and you're free to agree or

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disagree. In the case to the
Tesla, all right, their demand really

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isn't slowing down. They're going to
sell one point eight million cars this year.

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Yeah, o case, the driving
experience and the product that they produce

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is superior to all of the ice
vehicles out there, with certain exceptions like

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if you live in a condo or
an apartment, charging can wind up costing

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you more than gasoline. But if
you live at a home and you can

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charge it yourself, it's great.
Yeah. And I would avert that GM

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and Ford's products, and even Horsia
and Audi their products are inferior to the

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ice cars that are being produced by
themselves, and that is why the market's

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not catching on to their products.
Yeah. I mean, I think what

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you say is true to really is
a great job. There's there's just kind

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of a mounting series of things that
make it difficult for some owners. Another

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one is insurance. I think in
the US the price of insurance for an

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EV is about up seventy two percent
versus a gasoline car. Yeah. In

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Accent Island, in an accident in
my Tesla, it was gone a month

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and a half and a simple accident
that really on a regular car would be

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maybe six seven thousand dollars was twenty
thousand. Oh my gosh, totally Yeah.

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In England now there are a lot
of it's hard to get insurance in

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England for an EV. There's a
lot of articles. People are calling around

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all over and the price is about
five thousand pounds for a year for an

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EV insurance. So there are just
noes. And again I'm not against evs.

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I think, you know, we
have people that have a choice.

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But this idea that the federal government
has going to force everybody to buy under

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the state of California and we're going
to stop the oceans from rising if we

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do that, that's where we've really
gotten off base. Hey, you know,

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I've said this so many times.
There's never been an energy transition that

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was mandated and facilitated by the government. You know, the market always did

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it before we had any vehicles.
Some guy came along and invented the wheel

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well, or he discovered that you
could put a saddle on a horse.

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You know, the government wasn't there
saying, you know, you need to

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get stop walking and start riding.
And then you know, we had brown

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energy from horses for a few hundred
years, maybe a thousand years, and

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then we had the internal combustion engine
come about, and the government was not

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there saying, hey, give us
your horses and we'll give you a free

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car. You know, the market
figured this stuff out, and that's what

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that's why this is such a fool's
Errand Steve in my opinion is the market

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wants a new power transition and the
market will dictate it. The market will

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mandate it, it'll demand it,
and anyone who doesn't comply will go out

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of business, right they will.
And we have some serious issues coming about

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if we could switch to a winds
and wind in solar form. Most of

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any states, not most of the
Midwest or the South, but the east

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and west coast are are trying to
switch to wind in solar and use as

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much wind and solar and get rid
of coal, natural gas and even nuclear

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and we have some serious problems developed. I listen to this quote from Mark

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Christi. He's a federal Energy regulatory
commissioner. He testified in June in front

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something he might know something. He
said, I think we're headed for very

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dire consequences, potentially catastrophic consequences in
the United States in terms of the reliability

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of our grid. And he went
on to say that we're closing the things

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that are keeping the lights on too
fast. And indeed, if you look

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at if you look at data from
the u US Energy Departments, they track

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outages for electricity users, and back
twenty thirteen twenty fourteen, the average outage

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hours of outage was about three and
a half per year. Now it's up

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to about seven or eight per year
in the United States, and it's going

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to go much much higher. And
we've had big problems in Texas and Oklahoma

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and California. We had the blackout
in February twenty twenty one. Power was

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off for seventy two hours to four
and a half million people, and we

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had somewhere between two hundred and fifty
and seven hundred people die. That's bigger

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than a big hurricane and this.
Texas is doing better. They didn't have

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blackouts this summer, but they actually
issued ten electricity shortage warnings Seth, don't

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plug in your electric car, don't
run your air conditioner, that was it,

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don't put the coffee maker on.
So we have some real problems coming

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and I'm afraid people are going to
have to learn the hard way on this.

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And so we're going to have this
as part of the coming break green

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breakdown. We're going to have people
going back to sensible, reliable, low

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cost energy. Steve, this is
an absolute unmitigated disaster that's coming down the

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pike. Look, I do believe
that microgrids really have an application because it

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will stabilize grids and enable that the
alternative energy to be stored and used when

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needed. I mean, there's definitely
a major, major advance. I think

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a lot of it's being pushed now
by tax credits, but there's no question

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the microgrid stabilizes unstable grids when you
have enough of them well, and might

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even eliminate the need for peaker plants. You know, plants that come on

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during peak period, peak periods of
demand. But you can't, you absolutely

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can't not based the future of your
grid on this. Yeah, I think

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we're talking about I think you're talking
about grid scale batteries which are being put

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in a number of places. Yeah, and those two back up wind and

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solar. The problem, there's a
couple of problems. One is it so

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far is very very small. Again, I talked to audiences about this and

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ask them a question, how much
more electricity is stored by batteries in the

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US. It's nothing, And the
answer turns out it's it's two watt hours

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in every million watt hours. I
mean, it's it's basically insignificant at this

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point, and even if you double, triple, quadruple it, it's going

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to be almost almost not not useful. It would have to be a very

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very big amount. The other things
is batteries tend to be expensive. A

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good rule of thumb is if you
want to back up a wind system for

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a day with batteries, you need
to spend about five times as much on

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batteries as the wind system itself.
And then the batteries die in. They

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have half the lifetime of the wind. They die in ten or twelve years.

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So right now you're talking about ten
times the cost of the wind system.

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Itself to back up for a day. Now, batteries are going to

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come down in price and they may
get better, but we're still a long

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long way away from that solution.
That's a given, and there's enough incentives

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in the market. The government doesn't
need to be giving away truckloads of money

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here. What about the way they're
subsidizing the purchase seventy five hundred dollars towards

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an EV And these are wealthier people, more well off people who could afward

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the vehicle without the subsidy. It's
just giving money away getting absolutely nothing in

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return for it. It's a wealth
transfer to the rich, really, and

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the amount of money is huge.
Back in the Biden administration about two I'm

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sorry, in the Obama administration about
twenty fifteen, we were subsidizing wind and

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solar and other renewables about fifteen billion
a year. That went down to about

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eight billion a year on Trump.
But now with the Inflation Reduction Act and

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President Biden is going up to forty
fifty billion dollars a year. It's just

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huge. And we had crazy things
going on. There's a war going on

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in Iowa, South Dakota, and
North Dakota right now. Over carbon dioxide

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pipelines. They want to capture these
from ethanol plants, put them through pipelines

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to North Dakota, store the carbon
dioxide underground, and so the farmers are

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battling these pipeline companies. But nobody
would be doing this without the subsidy.

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If the subsidy wasn't there, it
just nobody would do it. It doesn't

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make any sense. We have plenty
of carbon dioxide for soft drinks and beer.

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We don't need to be capturing it. It's all based on the theorem

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and the share of man made warming
and these huge subsidies. Hey wait,

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we have a I heard we have
a shortage of carbon dioxide. Is that

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true? Well, it depends on
the way you look at it. Yeah.

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Actually, we have about four hundred
parts per billion in the atmosphere right

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now, about four of every ten
thousand molecules in the appmos here is pretty

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small, but many scientists point out
that it was much much higher in Earth's

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distant pass the three thousand or four
thousand parts per billion eight or ten times

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as much. And by the way, those happened during ice ages, which

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is evidence that having high levels of
carbon dioxide doesn't cause a lot of warming,

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so it is low compared to past
situations, but it has risen about

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thirty percent since the nineteen fifties.
Right, Okay, So what's it going

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to take for these policy makers to
come to their senses or do we just

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forget it? Well, we're going
to have four things happen with a green

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breakdown. First, we're going to
higher energy prices, especially electricity. California

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in the last three years has passed
up all the New England states and is

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now second highest in the nation behind
Hawaii, yce, as high as any

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of the Western state for electricity.
We're going to have electricity blackouts, which

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we've talked about. We're going to
have less freedom because they're try kind to

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ban gasoline vehicles and gas stoves.
And we're going to have transnational energy shocks

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like they've had in Europe over the
last two years, where the price of

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electricity more than triple than the price
of natural gas was up two and a

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half times. And they are really
hurting over there in England. They don't

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want to turn on their robbins and
they don't want to turn on their furnaces.

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The price are just way too high. So this is what is going

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to come from green energy these four
things, and people are going to push

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back. It's going to break down, and we're going to demand a return

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to low cost, reliable energy.
Hey, you know they keep talking about

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sustainability. To my way of thinking, Steve, the most sustainable form of

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energy ever ever found was petroleum.
Well it is. There is a real

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pollution we still need to reduce,
don't get me wrong. For example,

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eighty percent of the world's wastewater is
discharged in the rivers, lakes, and

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streams untreated. Not in the US, not in Europe. But if you

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remember about seven years ago, the
swimmers in the Olympics down in Brazil didn't

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want to swim the water. Another
issue in Brazil is just building their first

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water treatment plants. Another one is
plastic in the oceans, which is an

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overstated thing somewhat. We have about
one hundred million tons of plastic in the

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oceans. We're adding about ten million
a year. We need biodegradable plastics.

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So problems to solve, Well,
it tends to be more expensive. They've

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got some of it, but it's
more expensive. By the way, banning

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straws in Los Angeles isn't really going
to do anything. So so there these

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are real problems we need to say, we need to solve, but let's

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quit this attack and carbon dioxide.
By the way, another thing is there's

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still seven hundred million people across the
world that don't have electricity. There are

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hundreds of hospitals that are trying to
run without electricity, hookup two billion people.

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An additional two billion get blackouts every
day. So these people need low

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cost electricity. Though. That's another
big problem to solve. Let's quit trying

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and give rid of CO two.
Yeah, and you know, like I

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like soa man, if we get
rid of CO two, I'm gonna have

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to drink a flat soda. That
doesn't seem right to me. Yeah,

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it's totally wrong. Steve, Hey, where do we find you? How

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do we connect with you? How
do we get your book? Yeah,

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Green Breakdown. So it's available on
Amazon. They're also ebooks on Apple and

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Google and Bares and Noble, or
they can go to my website Steve gorm

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g O R E H A M
dot com and I'll send them a signed

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copy. Excellent, all right,
appreciate that. If you've got a question

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for us, Steve myself email address
kl at Carrie LUTs dot com and the

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00:18:30,440 --> 00:18:34,559
link to steve site is in the
show notes of this interview on Financial Survival

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00:18:34,599 --> 00:18:37,799
Network dot com. Click it take
you right to it. You can get

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00:18:37,799 --> 00:18:41,240
his books all of that good stuff. While you're at the site, Please

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00:18:41,279 --> 00:18:45,880
sign up for your free newsletter,
Steve, We'll talk to you again.

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00:18:45,960 --> 00:18:48,200
Thank you so much for stopping by. Thank you, Kerry, thanks for

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00:18:48,279 --> 00:18:55,640
listening to Carrie Letz's Financial Survival Network, your solution to today's trying times.

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00:18:55,880 --> 00:19:02,400
For the latest, go to Financial
Survivalnetwork dot com. Financial Survival Network now

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00:19:02,400 --> 00:19:03,240
more than ever,
