Connect with us

Published

on

Within the electric vehicle world in recent months, there’s been all kinds of debate and handwringing about how the big EV tax credits or rebates that are included in expected Democratic legislation in Congress should be structured — how much should union-built EVs versus American-built EVs versus just simply built EVs get in subsidies? There’s also been excitement about billions of dollars for EV charging ($7.5 billion in the infrastructure bill that’s been lingering for several months). Furthermore, there’s support for solar power and other clean energy technologies in the infrastructure and reconciliation bills that we’ve been patiently (and impatiently) waiting for the US Congress to pass. There’s one problem, though: all of this legislation might die. Also, as crazy as it is, it might all die because of one senator who was actually once a member of the Green Party but is now seemingly not even a Democrat on this stuff.

First of all, I already wrote about the problem of Joe Manchin. Indeed, he’s a coal man and a total corporate servant who won’t fight for the American people, and certainly not for the relatively poor people of West Virginia. While he’s still clearly a problem, he has a long history of coming around at the last minute, and other Democratic politicians in the US Congress have argued that he’d come through again when needed … if only someone could get Senator Kyrsten Sinema on board. The problem is: no one seems to know how to get her on board, and there’s suspicion that, at the end of the day, she has no desire to get on board. There’s concern (quickly turning into rage) that she has gone 100% to the dark side and simply will not vote for legislation to strongly expand climate solutions and a better social safety net in the US.

Oddly, Sinema grew up extremely poor, homeless at times, and as already noted, was once a member of the Green Party in Arizona. The bisexual atheist, however, has flipped so far from those roots that she might be a good candidate for the US women’s gymnastics team. There are a couple of possibilities of what happened. She might have sat in the Arizona sun for far too long and fried her brain, or she might have just discovered it’s comfy quickly becoming a millionaire and taking money from billionaires and large corporations to do nothing. The latter is the more likely scenario, and Will Bunch of The Philadelphia Inquirer has written an absolutely scathing and brilliant piece on what he thinks has happened. The title of his frustrated examination of Kyrsten Cinema and US politics as a whole is “The trainwreck of Sen. Kyrsten Sinema is the cost of not getting money out of politics.” The subtitle is: “An Arizona Democrat’s unfathomable opposition to progress is a win for her hedge-fund, Big Pharma donors, and a huge loss for democracy.”

Sinema has been raising a lot of money from large pharmaceutical companies and certain billionaires in that arena, and now the payback seems clear: block Congress from doing anything.

Sinema’s opaque obstructionism has become the grapes of wrath for President Biden and their fellow Democrats seeking to invest $350 billion a year to continue child tax credits for the middle class, expand child care, fight climate change and offer free community college,” Bunch writes. “The plan is foundering largely because of vague but obstinate opposition from Sinema and her money-soaked doppelganger Sen. Joe Manchin of West Virginia, when Democrats need all 50 of their senators onboard. Advocates believe the real problem is how Biden and his allies want to pay for this: Largely by raising taxes on Sinema’s filthy rich patrons such as Price and Gates.”

It’s wild to see that Sinema has the power to block essentially all of President Joe Biden’s/Democrats’ agenda, all serious Democratic legislation. It’s crazy that she can pander to corporations and the wealthiest among the wealthy while ignoring the challenges and needs of our climate, our working class and poor, and our democracy. But that’s where we are. On the cleantech front alone, we may never get the EV tax credits, EV rebates, EV charging infrastructure, and solar power subsidies that we’ve been hoping for all week, month, and year. That’ll hurt.

Featured photo by Gage Skidmore (CC BY-SA 2.0 license)

 

Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.

 

 


Advertisement



 


Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Continue Reading

Environment

Tesla (TSLA) insider trading: Elon’s friend James Murdoch just unloaded $13 million

Published

on

By

Tesla (TSLA) insider trading: Elon's friend James Murdoch just unloaded  million

James Murdoch, a Tesla board member and friend of CEO Elon Musk, has confirmed that he sold about $13 million in stock today as the stock (TSLA) crashed.

There has been a lot of insider trading at Tesla lately, and by trading, we mean selling – cause no insider is ever buying at Tesla.

We recently reported on Kimball Musk, Elon’s brother, and Tesla’s Chief Financial Officer Taneja Vaibhav recently selling ahead of a recent drop in the company’s stock price.

Tesla’s chairwoman, Robyn Denholm, also sold $33 million worth of Tesla shares last week and over $100 million in the last 3 months.

Advertisement – scroll for more content

Now, it’s James Murdoch’s turn. The Tesla board member just confirmed, through a required SEC filing, that he sold 54,776 Tesla shares for just over $13 million today:

He sold as Tesla’s stock crashed 15% today. It is now down more than 50% from its all-time high just a few months ago.

Murdoch was appointed to Tesla’s board in 2017.

He is better known as the son of media mogul Rupert Murdoch and the former CEO of 21st Century Fox from 2015 to 2019.

Murdoch was one of the Tesla board directors who was forced to return almost $1 billion in cash and stock options to Tesla as part of a settlement for over-compensation.

Electrek’s Take

Tesla insiders are unloading, and those are just the ones we know about. Public companies only have to report insider trading for board directors and listed top executives.

For the latter, Tesla purposefully only lists 3 people: Elon, Vaibhav Taneja, Tesla’s CFO, and Tom Zhu, whose role at Tesla has bit quite fluid in recent years.

Therefore, we don’t know about the dozens of other top executives potentially selling their shares right now amid a giant correction.

It’s really suspicious because there are clear top leaders at Tesla who are often on Tesla’s earnings calls, and they are not even listed, like Lars Moravy, for example.

But it’s par for the course at Tesla, which has some of the worst corporate governance I have ever seen. It’s truly shameful.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Mercedes’ new electric people mover is coming soon: Here’s a sneak peek at the luxe EV van

Published

on

By

Mercedes' new electric people mover is coming soon: Here's a sneak peek at the luxe EV van

The next generation of Mercedes-Benz luxury vans is almost here. Mercedes’ first luxury electric van, based on its new VAN.EA platform, is now in Arjeplog, Sweden, for winter testing. The new platform will serve as the base for upcoming VIP private vans, high-end limousines, luxury all-arounders, and much more.

What we know about Mercedes’ new luxury electric van

Mercedes is already a leading van maker, both for business and private use. Starting next year, all electric Mercedes’ vans will launch on its new Van Electric Architecture (VAN.EA).

After unveiling the platform almost two years ago, Mathias Geisen, Head of Mercedes-Benz Vans, said “VAN.EA clearly underscores our aspiration to ‘Lead in Electric.” He explained that the purpose-built EV architecture supports both mid and large vans.

With a modular design, Mercedes can easily swap out sections to create a different design. The platform consists of three blocks, or modules.

Advertisement – scroll for more content

The first block has the electric powertrain while the middle module determines the van’s dimensions. At the rear, the final module can add another electric motor, giving it AWD capabilities.

With 4MATIC AWD, Mercedes claims the new architecture significantly expands driving range and ensures the vans “meet the highest standards regardless of weather conditions.”

Mercedes'-electric-van-testing
Mercedes-Benz VAN.EA-P electric van testing in Sweden (Source: Mercedes-Benz)

Although final specs will be revealed closer to launch, the electric vans will be based on an 800V platform, suggesting relatively fast charging speeds.

The luxury vans will also be loaded with Mercedes’ new operating system (MB.OS), it’s powerful new in-vehicle software that powers all functions like infotainment, autonomous driving, and more.

After the electric van began testing on public roads late last year, Mercedes said it was headed to Sweden for winter testing before its official debut next year.

Mercedes plans to launch several versions for private and business use. The VAN.EA-P is designed for those looking for a mobile office, family activity vehicle, etc., while the VAN.EA-C is for commercial use, such as courier, express, and parcel delivery vehicles. It can even support larger vehicles like campers or RVs.

Mercedes aims for 20% of van sales to be electric by the end of next year. By 2030, the luxury brand wants half of all van sales to be EV.

Source: Mercedes-Benz

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

BlackRock’s Fink says Trump deportations will have severe impact on agriculture, construction

Published

on

By

BlackRock's Fink says Trump deportations will have severe impact on agriculture, construction

BlackRock CEO Larry Fink: Deportations will have severe impact on the agricultural sector

HOUSTON — BlackRock CEO Larry Fink said Monday that President Donald Trump‘s deportation policy will have a severe impact on the agriculture and construction sectors, which could lead to elevated inflation in the near term.

“I think that over the next six to nine months, we’re going to see a little more elevated inflation,” Fink said the CERAWeek by S&P Global energy conference. “I do believe deportations and the speed at which it is happening is going to have severe impacts on the agricultural sector and the construction sector.”

Fink said CEOs in the agriculture sector have told him that about 70% of the men and women who work in the industry were not born in the U.S. This raises the question of whether the U.S. will have enough labor to harvest the crops when spring arrives, Fink said.

“With the whole idea that we’re going to have to use private capital to build out this economy — are we going to have enough workers,” Fink asked. “I’ve even told members of the Trump team that we’re going to run out of electricians as we build out AI data centers — we just don’t have enough,” the CEO said.

This potential labor shortage will contribute to inflation, Fink said. Over the longer term, however, the U.S. could see “big deflation because of the advancement of AI and robots and how that’s going to reshape the economy,” the CEO said.

The deflationary pressure that the U.S. experienced over the past two decades was due in part to the importation of cheaper goods from overseas though this hurt U.S. workers, Fink said. The shift to rising nationalism around the world will have an impact on prices, he said.

BlackRock CEO Larry Fink on how he sees AI changing the labor landscape

“When I go to Washington, they talk about these policies,” Fink said. “I ask at what cost are you willing to tolerate that. “Yes, we may have opportunities to create better and more robust jobs, but then the offside of that will be, it will probably create a little more elevated inflation in the short run.”

Trump’s deportation policy is occurring at the same time the president is imposing tariffs on major U.S. trade partners. The president has slapped 20% tariffs on China. He has paused tariffs on Mexican and Canadian goods that are compliant with the deal that governs trade in North America. But Trump is threatening what he calls “reciprocal tariffs” in April.

Don’t miss these energy insights:

Continue Reading

Trending