The markets are finally realizing that fundamentals matter.

Mercedes plunged on Friday as sales of its slick new range of EVs went into freefall. Net profits were down 21% on Friday.

Porsche abandoned its sales targets for battery-powered cars amid waning demand from customers.

Ford is losing nearly $50k on every EV it sells, while Tesla’s profits dropped 45%.

Battery manufacturers such as Germany’s Varta are getting hammered.

Economists have long warned that net zero provides a golden opportunity for waste and rent-seeking. But some elites chose not to listen. We should start holding them accountable.

Lobbyists argued for the subsidies, civil servants supported them, and finance ministers enthusiasticall y virtue signalled with other people’s money.

1  A must see video for anyone with an ebike is the poor smuck that was carrying his battery in an elevator. The elevator door no sooner closed when the battery burst into flames. This on top of the semi that overturned closing the I 15 in Ca. for 3 days while the fire of batteries for Ecars that it carried burned uncontrolled.

2 Yeah Mike; there are numerous examples of this. These are dangerous, no question.