The Biden administration has admitted, on more than one occasion, that they are letting gas prices soar to force Americans to “go green.” Joe’s so-called Inflation Reduction Act was really a ruse to spend billions of tax dollars to prop up green companies.
Biden has made it clear he wants Americans to buy electric vehicles. This, despite the fact that experts warn our energy grid cannot support a major shift to electric cars. Biden has thrown endless amounts of cash to make green technology viable. But now, one of the companies his administration championed is giving him the bad news.
Proterra, the electric vehicle company championed by President Joe Biden, has filed for bankruptcy in a move that delivers a black eye to the administration’s green and economic agendas.
“We have faced various market and macroeconomic headwinds that have impacted our ability to efficiently scale,” CEO Gareth Joyce said in a statement…
The firm most famously assembles electric buses out of its South Carolina facility, where Biden received a virtual tour in 2021. In February, the president also announced CEO Joyce’s appointment to the White House’s Export Council, which advises on matters of overseas trade. [Source: Just the News]
Wow. The company that makes those electric buses Kamala Harris gushed over has filed for bankruptcy. The CEO claims that “various market and macroeconomic headwinds” are to blame. Just a short time ago, Biden was propping up this company as an example for others to emulate.
But not even two years have passed and they are filing for bankruptcy. Ouch.
I guess all that cash Biden is sending to green companies isn’t enough to keep them afloat.
When Biden started his war with fossil fuels, numerous companies ramped up their production of green tech. They were gambling on whether Biden’s agenda was going to pan out. But Biden’s green plan folded much sooner than anyone expected.
Ford has lost billions on its electric vehicles. And Proterra is filing for bankruptcy. That’s only the tip of the iceberg in Joe Biden’s crippled economy.
Electric vehicles are not succeeding, because most Americans don’t want them. They are much more expensive than traditional cars, cost more to maintain, and have a limited range. Companies that jumped on the EV bandwagon are quickly finding out that it doesn’t pay to partner with Joe Biden.
I wonder how many more companies will flop, thanks to old Joe?
Author: Bo Dogan