President Joe Biden's Environmental Protection Agency moved forward with new "climate" rules Wednesday to mandate more vehicles produced over the next eight years be fully electric.
"The final version of the Environmental Protection Agency’s Clean Cars rule is the strictest federal climate regulation ever issued for passenger cars and trucks — even though it offers manufacturers a slightly slower phase-in of pollution limits than the EPA had first proposed last spring...a regulation that could cause electric cars to make up the majority of U.S. auto sales eight years from now," POLITICO reports. "The agency estimated a year ago that the rule could lead to two-thirds of new cars and passenger trucks being electric in 2032."
The unhinged and delusional move comes just one day after rental giant Hertz announced the resignation of CEO Stephen Scherr. Scherr is leaving the company after implementing a disastrous electric vehicle rental program that was rejected by customers -- short term renters and resale buyers.
"Scherr’s resignation comes as the car rental company struggles with the higher repair costs and low demand for EV rentals," Fox Business reports. "In January, Hertz announced in financial filings that it had made the 'strategic decision' to sell approximately 20,000 EVs from its U.S. fleet, or about one-third of its global EV fleet, and to instead invest in gas-powered cars."
Further, American car companies like Ford are losing $36,000 per electric vehicle produced.
"Ford Motor (F.N), opens new tab on Thursday withdrew its full-year results forecast due to "uncertainty" over the pending ratification of its deal with the United Auto Workers (UAW) union, and warned of continued pressure on electric vehicles, sending shares of the company down more than 4% after-hours," Reuters reports. "Ford's increasing concern about cooling EV demand follows a decision by rival General Motors (GM.N), opens new tab earlier this week to postpone a $4 billion electric truck plant in Michigan."
"Lawler reiterated that Ford will delay some of its planned multibillion-dollar investment in new EV and battery production capacity, citing "tremendous downward pressure" on prices," Reuters continues. "Ford lost an estimated $36,000 on each of the 36,000 electric vehicles it delivered to dealers in the quarter - even more than its estimated $32,350 loss per EV in the second quarter."
7 out of the 10 states with the most EVs are deep blue states.
— Stephen Moore (@StephenMoore) March 20, 2024
All 10 of the states with the fewest EVs are red states.
The bottom line: Nearly half the country refuses to buy electric vehicles. pic.twitter.com/HI8omezvpp
And finally, the electric grid is already at full capacity and doesn't have the capability to handle the influx of demand needed to keep up with Biden's mandates.
The U.S. electric grid will falter under the demand of electric vehicles: Sen. Shelley Moore Capito pic.twitter.com/J6BDaOpOYn
— Mornings with Maria (@MorningsMaria) March 20, 2024