What a freaking scam. Nothing is created here. Paper credits shuffled back and forth. Tesla purchasers get subsidized by the government, Tesla gets subsidized by the government and we the taxpayers get hosed. Pull the plug on the electric car subsidy feed trough.
As I’ve said before, Musk’s biggest engineering feats have been separating the smokestack from the coal powered automobile, and separating the cash from the taxpayer’s wallet.
I’m shocked!.........................
As I read it, it’s not just the Government directly subsidizing Tesla, but it is buyers of conventional vehicles that are essentially subsidizing Tesla. It would be interesting for the numbers to be fully transparent - how much of the $40k+ cost of a new truck goes to Tesla?
“John DeLorean” financing?
Related: I know a guy who works for a company that brokers environmental credits. Here’s the way it works. Suppose you own a factory and you want to expand into 10 acres of adjacent wetlands.
Oh noes! Those wetlands are protected. So here’s what you do. You go to a broker. The broker finds someone - maybe a farmer - with 10 acres of land that qualify as wetlands. The farmer agrees to register his 10 acres as protected wetlands. You pay him for doing that.
Now you can expand your factory. It’s all perfectly legal.
How is this new information? I knew years ago Musk made his money on carbon credits.
Hardly a secret.
Investors just didn’t care.
Now they do.
What you said!
So carbon offsets...carbon credits like what Gore and Obama and Hitlery wanted to pass.
Anyone with half a brain knows that Tesla is destined to go belly-up. People are buying into a pipe dream that will turn into a nightmare, sooner rather than later.
“What a freaking scam. “
Yep.
5.56mm
Yep. It’s all a scam and it’s “legal”
the democrats have patents, US PATENTS, on the
carbon credits. which is why....
A new form of rent-seeking?
Ah, yes, the #FakeScience of CO2 pollution. The one thing that cars emit that harms nothing.
Until Ronald Reagan changed the tax code and lowered the tax rate from 78 to 28%, you could buy and sell federal tax credits.
I was in the tax leveraged lease business, and if a company was losing money but needed equipment, applying tax credits could reduce a monthly rate by as much as 20-27% with the tax benefits going to a third party that needed tax write offs.
As the leasing agent, we took ours, up front, and at the back end when we took ownership of the product.
The point is, selling fed credits is nothing new, nor is it illegal.
The same principle applies to carbon credits used for the global warming scam.
clickbait. This has been well know for years.
Bump
It is like Ken Lay had a son.
Yep.
His Lobbyist buy the best booze and prettiest whores.