Are EVs now just a passing fad? [[{“value”:”

Are EVs now just a passing fad?

What is going on in the EV market with the end of the EV mandates? What will happen to the global markets? Will insurance companies become the new mandatory organizations?

EV policies are starting to shift in the U.S., Canada, and Europe – and that’s having an impact on consumers, manufacturers, and the energy sector. As government mandates lose momentum and subsidies begin to fade, investment patterns are changing, China’s role in the market is being reexamined, and hybrids are gaining more attention from buyers.

You won’t want to miss this Energy Realities podcast with Tammy Nemeth, David Blackmon, Irina Slav, and Stu Turley

Highlights of the Podcast

00:01 – Introduction

02:00 – Canada’s EV investments

06:00 – Policy disconnect

09:00 – Global EV push vs U.S. market reality

12:30 – Global EV sales misleading

18:00 – Strategic shifts

22:30 – U.S. legislative shifts

26:30 – EPA and CO₂ regulation

29:30 – Social control via energy

34:00 – Political commentary

38:00 – Grid reliability + EV cold-weather failures

40:51 – Britain’s electricity grid is dangerously outdated

42:36 – Gearing Down in Ontario

46:49 – Increasingly Worthless WSJ Flies Completely off the Rails

48:13 – DAVID BLACKMON: Trump Ends Newsom’s Terrible Week By Killing His EV Mandate

50:40 – Israeli Targets Iran’s South Pars Gas Field in Escalating Airstrikes, Iran Retaliates

56:00 – IEA investment spin

Irina Slav

International Author writing about energy, mining, and geopolitical issues. Bulgaria

David Blackmon

Principal at DB Energy Advisors, energy author, and podcast host.Principal at DB Energy Advisors, energy author, and podcast host.

Tammy Nemeth

Energy Consulting Specialist

Stuart Turley

President, and CEO, Sandstone Group, Podcast Host

Are EVs now just a passing fad?

Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.

David Blackmon [00:00:11] Well, good morning everybody. How are you today? I’m David Blackmon and this is the energy realities podcast. Our Monday morning CONFAB, uh, panel show with one of our panel members missing today, Irina Slav won’t be able to join us today, but she will be backed with us next Monday in her usual spot with me today though, is Dr. Tammy Nemeth from her home in the UK. How are you today?.

Tammy Nemeth [00:00:39] I’m doing well. Thank you. Thanks for asking. It’s a beautiful day here in England. So just enjoying sunshine and it’s not great. It is great.

David Blackmon [00:00:48] Those solar panels, all of those solar panels are actually generating a little energy today, huh?

Tammy Nemeth [00:00:54] Yeah, I imagine so. I hope we don’t have to dump it the way France has to dump it in order to take Germany’s wind and solar.

David Blackmon [00:01:05] Uh, and also with us today is Dr. what Stuart Turley from Oklahoma, his lake house in Oklahoma. How are you today?

Stuart Turley [00:01:16] I just peachy loving the day. It’s going to be a fantastic day. I’m not in Iraq.

David Blackmon [00:01:21] And father’s day.

Stuart Turley [00:01:23] I did, I got to do some serious fishing, so life is good.

David Blackmon [00:01:26] Fishing is always good. It’s always fun. Today, folks, we are taking on quite a topic today. Whether or not EVs are a passing fad, the EV industry is continuing to have some, let’s call them, Challenges is a good word in their growth pattern. And uh… It seems to be that China is about to take over most of the market other than in the United States and maybe Canada and, or maybe, maybe it’s about to take over Canada too, Tammy. What do you think about it?

Tammy Nemeth [00:02:09] Well, you know, EVs are an interesting question because last week our Minister of Industry, yes we have a Minister of industry, Melanie Jolie who used to be the Foreign Affairs Minister, but now she’s been shifted over to industry and she gave a talk to the Canadian Auto Manufacturers little sort of trade group and so she went on to talk about how Canada has committed to net zero by 2050. It will maintain its EV mandate, which means that by 2035, the only new vehicles allowed to be bought in Canada will be EVs. And she doubled down on all of the money that they’ve been throwing at the EV industry and supply chain in Canada. Now, a colleague and I had gone through some… Took out the top 10 investments that the Canadian governments have made with respect to EBs, batteries, tires, manufacturers, and whatnot. And of the top ten, seven of the projects have been suspended and only three are active. It’s like 70% are not going forward or they’re suspended or whatever and that’s you know 24 billion and Canada has spent so far so far if I look at this data they’ve spent 52 and a half billion on 13 major projects 31 of that 52 billion has been paid for by the federal government. So that’s all the taxpayers in Canada. 21 billion has been contributed by the provinces, Ontario, Quebec, where the majority of these projects are happening, right? And then the auto companies themselves have put in 46 billion. So all of these billions going in and 70% of those projects have been suspended. Or they’re bankrupt looking for angel investors and so on. Now what was interesting is one of the journalists actually asked Minister Jolie, okay, so like has this been a worthwhile thing since all these companies are going out of business? And what are we going to do? And she said, yeah, we’re still going to double down and we’re pushing forward on this. On this initiative and there’s hints that maybe Canada will develop its very own EV auto, like its own electric vehicle that will be made with all Canadian parts, all Canadian stuff, I don’t know. To me it’s like thinking about a Trebont from the Soviet era. So Canada is going double down on this. And an interesting story today is that in your active is that the European auto manufacturers are, they’re fighting amongst each other because they want to present a unified front to the European Union that they want to slow down or suspend the 2035 EV mandate in the European union. But they can’t agree what position to take. So they’re hashing that out, but my sense is that they want to change that 2035 target. Now the UK is interesting because they’re still pushing forward with a 2030 target of stopping new sales of ICE vehicles. So I think EVs could be a passing fad in the United States, but what I’m seeing in Canada, the European Union, the UK, they’re doubling down on it. And All this is bad for the consumer and taxpayer.

David Blackmon [00:06:06] So what do you think is gonna happen when neither one of those countries are able to meet those targets? I mean, what happens then? How do the governments back up and adjust?

Tammy Nemeth [00:06:19] I don’t know. I mean, this was a real good opportunity because of all of these operations being suspended, the companies going bankrupt, the government could have said, okay, you know what we tried, I think maybe we need to rethink this strategy. But instead, they’re doubling down. And it’s interesting, it never came up during the election, not once in Canada, right? They talked about how they’re going to save the auto industry. And she actually said, during this presentation. That the number one industry in Canada is automobile manufacturing. And the government, that’s their number one priority, is to ensure the solvency of the auto manufacturing in Canada.

David Blackmon [00:07:02] But they failed 76% of the time so far in achieving that goal.

Tammy Nemeth [00:07:08] Yeah, for sure. So I know it’s it’s bizarre. And the comments about the United States were even more bizarre. Where she said that because of Trump, all of the, where they’re going to lose all of their investment and it’s all going to go to Canada and they’re gonna, all these smart people are leaving America and it is great for Canada because they’re coming to Canada. I’m like, I don’t think so. I think the investment in America is going to be going through the roof, not going to Canada, so.

David Blackmon [00:07:43] All the smart people who’ve gone bankrupt in America are going to Canada. Stu, what do you think?

Stuart Turley [00:07:49] I think we have a financial crisis on our midst here. I think if the EU, the UK, and Canada are in this mindset of net zero EVs and 100% control and still electrification, you’re going to see the bifurcation of markets now really accelerate. So you’re going to have. Russia moved to India in a trading block. You’re going to have the Middle East in a trading block and while we’re talking about EVs today, this is a very important point because the demise of the EU, the UK and Canada is now almost forming following the EV pattern. And I hate to say this because I am such a Canadian fan. I’m like, yeah, I love Canada. You know, I, uh, this This is terrible. I mean, yeah. I could be wrong, but.

Tammy Nemeth [00:08:49] But they’ve also said that they’re going to use the auto industry to help with defense production. So it’s like the Canada and the EU and the UK are all making this argument that they have to rearm and they have to do all this stuff and that it’s going to be through the auto manufacturers that they are going to be doing defense production, well, what are you making, electric tanks? Like really?

Stuart Turley [00:09:16] And steel and, and you have not only a deindustrialization and net zero go hand in hand. That is a fact. And I think Katherine Porter brought that up in her report very eloquently. And she is a cool cat that was outstanding. Gail brings up a great comment right here. We love Gayle.

David Blackmon [00:09:46] Canadians are not having these discussions. This has to change, yes. I mean, every country has to have these discussions and I don’t know, at the moment it seems that the Trump administration is the only one having the discussion in a real way in the Western world. I may be wrong, there could be countries in Europe that are doing it as well, but there are very few.

Tammy Nemeth [00:10:13] No, they’re not having this conversation in Europe at all, not at all.

David Blackmon [00:10:17] Media won’t allow it, right?

Tammy Nemeth [00:10:19] Not really. I mean, when people, it hasn’t really sunk in yet what this means, you know, 2030 in the UK, that’s only five years away. And saying that, like Ed Miliband was talking to somebody, and he was saying, Oh, well, you know people can still buy used cars, they just can’t buy new ones. Okay, but how do you get part?

Stuart Turley [00:10:44] Tammy and David, in the US, what I wrote this article and I’m finding that the hybrids are really taking off. I did not realize how much the hy Brids were taking off in the United States. And I’ve been saying, but it seems like the media is not covering their goodness. And As we take a look at this.

David Blackmon [00:11:09] It doesn’t fit the narrative.

Stuart Turley [00:11:11] It really doesn’t. And, and when you take a look at this down here in Q1 of 2025, this is what we’re seeing is that we are now about 78%, which is 78.6% market share in ICE, EV sales was 79 and hybrid sales were 13.9. You take a look at how that’s, uh, adding out in the United States, uh hybrids are picking up speed. EVs are losing a little bit, but Tesla is still the kingpin. You take a look at Tesla and Tesla is going to be in my opinion, a good investment. I do not give investment advice, but I am, I am day trading in, in because I do like what Tesla is doing with the robotics and, and the AI driving. And, and people have to understand that Tesla is building a heck of an AI strategy with all the input from their cars and X. I mean, it, it’s unbelievable.

David Blackmon [00:12:24] Yeah. And they’re leading the industry and self-driving technology and all sorts of other things. I mean, they’re just, it’s a, it say profitable company. It’s the only, the only the one and only everyone listen up. Tesla is the only profitable electric vehicle company in the United States. Every other one of its competitors, a pure EV competitors are either bankrupt or on the verge of going bankrupt. Ford Motor Company and GM lose billions every year on their EV divisions. Ford is rapidly switching over to hybrids because people actually will buy hybrid cars. Hybrid cars are more affordable and they make more sense for the American consumer. Tesla is the only company that is going to survive the repeal of the EV subsidies by the big, beautiful bill, the one big, beautiful bill. That is going to pass the Senate in some form. And those subsidies are going to go away. Tesla is going be the only peer EV company standing for it. And GM and Stellantis is already going to hybrids too. Those, those companies are all going to end up going to hybrides in a heavy way. They’ll still produce some EVs, but there won’t be a lot of them. I, for my week, I wanted to point one thing about this. I ran into a headline on Wednesday. And the, and it really caught my eye because the headline says, and it’s in a, uh, an internet EV boosting website called R H O motion row motion. And the headline reads global EV sales grow 28% in 2025. And I thought, oh my God, the EV industry is finally taking off. But then I clicked on the link and started reading the story. And it turns out that’s not really what’s happening at all. What RoeMotion does in this story is they take a look, they compare the first five months of EV sales globally in this year, in 2025, to the first five months of 2024. And yes, in the first 5 months of 2025, EV sales are up significantly from 2024. That is attributable entirely, entirely to reported sales out of China. Okay. The entire difference comes from what China claims it’s selling the first five months of this year. And we all know how much we can trust numbers coming out of China, so that may or may not even be real. The problem though, is that if you look, if you compare where we’re sitting today, global sales of EVs today at the end of May, 2025 versus the end December, 2024, they’re actually down by about 28% globally. Almost all of that difference can be attributed to reported numbers out of China. The the remainder of that difference though most of the remainder of that difference can be attributed to reported numbers out of Europe, the EU, which is China’s biggest foreign market for its electric vehicles. So it’s all bad news for China, all bad news for the EV industry sales of tank this year globally. They’ve tanked in the United States. The market for EVs in the United States began to level off at the end of the last quarter of 2023 and hasn’t really recovered much since then. And again, it’s all about Tesla. Tesla is the only company that’s gonna survive the repeal of the subsidies. Every other business model in the industry for a pure play electric vehicle company is an unsustainable business model. And this is typical not just in the electric vehicle industry, but in the wind and solar industry too. Once these subsidies go away, and they’re gonna go away from the IRA anyway, they’re going to get repealed. Most of those wind and solar companies are gonna go belly up too. And the offshore wind industry is gonna come to a halt because they’re all unsustainable business models. And this is just what the Biden administration and the Democrat Congress of 2022 have left behind for us in America. So there’s gonna be a big economic reckoning out of all that. It’s nothing to really celebrate. Because it’s going to cause a downturn in the economy overall, I think, probably the last half of this year as all these companies go into bankruptcy. But it’s a necessary cost, I think, to recovering from the madness of the last four years where energy policy was concerned. And yeah, so I mean, the United States is definitely an outlier, I think, where EVs are concerned. Certainly, the G7 is meeting today. And all those leaders of all those countries in the G7 who have virtue signaled their asses off about electric vehicles and all their grand plans for converting their whole societies to electric vehicles are going to be angry at Donald Trump, but they’re always angry at Donald Trump, so that’s really no change. But I mean, it just is America’s the biggest market and, and that’s what’s happening in the United States and it’s, it’s going to happen. This is what voters voted for last November. And so, you know, I mean that’s just the way things are going to be.

Tammy Nemeth [00:18:24] One of the interesting things that I hear a lot in canada and europe and the uk under this labor government Is that well donald trump and what america is doing is just a blip And so they’re just going to wait them out. They’re just gonna wait out america because the europe and uh canada the uk they’re on the right side of history and donald Trump and america right now are going down the wrong path and so they can just wait it out. And there is all these articles coming out that sustainable investors are looking outside the United States now for investment opportunities. And I’m like, well, that’s because the subsidies aren’t there anymore. So that tells you that these are just of City Chasers.

Stuart Turley [00:19:05] Yeah, it’s all red sneakers. Yeah, I think this brings up a bigger issue. And Tammy, you have hit a home run on some of your comments. And I think that this is absolutely.

David Blackmon [00:19:17] What did I hit, Sacrifice Fly? I’m kidding, I’m joking.

Tammy Nemeth [00:19:25] Sacrifice fly? It was a bunt.

Stuart Turley [00:19:29] I got hit in the face with a ball, and so that’s why I look better this morning is getting hit in the head. But when we take a look at, you mentioned China, and you mentioned over the last 40 years, the United States has lost about, I think it was 19,000 manufacturing sites in the United States and we offloaded them to China. Guess what? Canada the EU and the UK are doing the same thing. And so China is now really in an economic problem. And if they don’t get the EU, Canada and China and their manufacturing and their products so that they can steal their technology and then sell all their products, China is going to fold. And this is a real problem. I’m kind of like on board with getting your manufacturing back into the United States, putting the steel back into The United States. And this is a bigger problem than just EVs. And your, Tammy, your other point of EVs trying to solve the, the war machine manufacturing Everything is absolutely spot on. Holy smokes Batman, there is no way that the EU, the UK and Canada can ever militarize using their outsourced to China methodology, it’s not going to work.

Tammy Nemeth [00:21:18] Yeah, I agree. I don’t think it’s gonna work. And you know, it’s interesting with respect to the EVs, because there’s all these tariffs put on by Canada and the EU, and America to some extent for the EV’s from China coming into their jurisdictions, is that it’s it’s par for the course and the pattern for Chinese behavior, where they subsidize the production domestically, so that they can undercut the you know, to sell it on the world market. So they absorb whatever temporary cost that would be in order to dominate a sector, put the others out of business, and then they can jack the prices up because they’ll have control over the whole thing. So it’s not this is par for the course for how China operates and. People, you know, we’ve gutted our industrial capacity, handed it all over to China, and now suddenly we’re just going to ramp it all up really fast and stop the deindustrialization. I don’t think it’ll be that quick or they’ll be able to do it.

David Blackmon [00:22:26] One other story, big story. Well, first, before I go into it, just so folks understand, Tammy’s having some work done at her house. That’s, that’s the buzzing noise you hear when she’s talking. She’s muting in between. Uh, but, you know, it just happens. Life goes on doing these things. Um, so the other big story in the United States this week or last week was, uh, the, the Trump administration, uh Donald Trump signed three congressional resolutions that have the effect of ending the EV mandate by 2035 in California, which is similar but not quite identical to what’s happening in the UK’s 2030, Canada’s 2035. So Canada’s is very similar to California’s. The president signed those resolutions on Thursday within about 15 minutes of his attaching his signature to the third one. State of California and 10 other states sued the Trump administration, claiming that’s an improper use of the congressional review act, which is the governing authority for the resolutions that were passed. And so there’s going to be a court fight over this. The 10 other States were 10 of the 12 States whose laws require them to just march in lockstep with whatever California does on air quality regulations. So, uh, there’s going to be a big fight over that. Uh, it seems likely the Trump administration is ultimately going to prevail though. Uh, I think there’s little question that this is a proper use of the congressional review act. And I think that’s the way the courts are going to rule on it, but it may be a couple of years before it happens. Um, so that’s also happening in the United States and it’s just another big hit to the EV industry in this country and its ability to force consumers. To adopt their cars, okay, and interfere in the markets and not let consumers choose what kind of car they want to drive while driven by climate alarmism and the obsession on the political left globally with plant food in the atmosphere and calling that a pollutant. The other thing that’s about to happen in the United States, it’s going to be probably an even bigger hit. And it’s going to have global implications, is the EPA is going to sometime in the next few weeks, declare or rescind the Obama era EPA’s finding that carbon dioxide is a pollutant. The very basis for all life on the planet is a pollutant. And we’ve been regulating it as a pollutent since 2011. That’s going. Get reversed and, and that’s going to generate, you know, another, I mean, this is a great time. What I will say, this may be the finest time, the most profitable time in American history to be a trial lawyer. Okay. This second Trump presidency may be, the best time for trial lawyers in American history. But once it’s over, it’s going. To be a really bad time for the trial lawyers because they’re going to win, lose most of their lawsuits. So anyway. That’s fixing to happen too. And it’s just another, you know, it’s just another outcome that shows that elections still matter in free democracies. And, you, know, the way things happen in the United States, it’s also another great example of why it’s so much easier for a command and control government like China’s. To take off on these big decades long projects to transform their energy sectors of their economy. And it’s so difficult for the United States and other democracies to do the same thing.

Tammy Nemeth [00:26:35] That’s a really great point about the, um, the CO2 is pollutant, uh, position. It’ll be great if they undo that. But I imagine, like you say, that I think a litigation will happen immediately. It will be interesting to see if it goes to court, what ex like, how are they going to justify CO2 as a pollutant? Because if you go to court then you will have to have a determination of how much exactly makes it a pollutants. And right now, you know, is it 450, which is hardly anything, or is it like the 10,000 or 15,000 that’s considered toxic on the space station? Right. So it’ll Yeah, that’ll be interesting to see how that how that all plays out.

David Blackmon [00:27:22] It will. And, and, you know, the other factor in all this that’s going to probably, you know mean the, the litigants are going to lose is the, that the Chevron deference no longer exists. Chevron Deference was repealed last year by the Supreme court and that forced federal courts to defer to the wisdom of the agencies, the regulatory agencies on questions like this. And now that that’s no longer a legal doctrine, the courts are going, yeah, I mean, the plaintiffs are gonna be forced, like you say, to present some facts.

Tammy Nemeth [00:28:00] Not just because they feel like it or something.

David Blackmon [00:28:02] Yeah. It’s going to have to be real science. You’re not going to be able to come in with a computer model that predicts that 50 years from now there’s going be these impacts from what we’re doing right now. And so it’s just going to a whole different thing than prevailing on some politically motivated bureaucrats to do whatever you want, which is what happened with that EPA finding, the NRDC and the Sierra Club. Prevailing on bureaucrats in a democratic administration. So anyway, it’s going to be very interesting times, very, very interesting times. It’s going be really hard for the EV industry in the United States to move ahead.

Tammy Nemeth [00:28:47] I really like Henry’s comment here. Stu, can you put that back up, please? Henry White writes, in all my life, I never thought I would see the Washington DC influence so in my face, whether it’s the electric cars or solar panels, all depend upon government subsidies. Thank you for letting me share. I know, and it’s not just in Washington, in America, it’s in every Western country, the amount of government just trying to tell you, micromanaging your life, what you can do, what you cannot do, undoing reliable grids, undo reliable electricity, for what? And I think one of the interesting things an American might say, well, we’re a bit different because we’re not used to having all this kind of federal control and influence, you know, maybe Europe’s a little bit different, But even so I The I think all the public is getting a little bit tired of governments trying to micromanage absolutely everything

David Blackmon [00:29:48] which was inevitable, right? In free societies, that was inevitable. In China, you know, the people don’t really have that kind of a voice in the affairs of their government. And, but in the UK and Canada, the United States, Germany, all over the European continent and Australia and New Zealand, you’re talking about a different dynamic in the society. And Rodney, I think Rodney McInnis makes a great point too. The reparations owed to the public for all the squandered money on climate nonsense is huge. And that’s right. I mean, the impact of these subsidies has been trillions of dollars in squandored capital that could have gone to productive enterprises in our economy that would have had a much more of an impact in the United States economy to clean the atmosphere and Get rid of real pollutants in our air and water instead of obsessing about plant food. And that just is, and it’s just strictly a product of the policies of first the Obama and then the Biden administration. And it’s also why this is, this dynamic in our societies is also why we see such desperation at these global conferences, the WEF, the annual COP conferences held by the UN and and all these other global climate conferences. To prevail on democracies, democratic governments to implement these command and control regulatory policies become more authoritarian in nature as a result. And because you have to have an authoritarian government to carry out these plans, these social planning operations that last across decades. It requires authoritarianism. You can’t succeed if you maintain a truly free elections and truly free governments, uh, and societies where individuals have all the rights we’ve come to expect in our societies. And one of the impacts of that has been we’re seeing in the UK and I’m not trying to demean your home country, Tammy, the people being thrown in jail. Retweeting tweets on X and things like that. Retweeting or posting memes on Facebook can get you thrown in prison. And we were on the verge of that happening in the United States before Elon Musk bought X. And that’s been the biggest event in American history, modern American history to reinforce the First Amendment in our society. And. You know, it hasn’t had the same impact across other Western democracies, unfortunately.

Tammy Nemeth [00:33:01] You made a really good point there about the social. About the social engineering because it is about social engineering and every western leader that i’ve seen whether it’s mark carney justin trudeau before him kier starmer all and uh merits of these other people macron they often talk about how they admire what china’s doing they’re able to move so quickly they can do this they’ve got these plans it’s like but they’re a communist dictatorship like yeah okay dictators can move quickly but you know there’s something to be about democracy as messy as it is, even if you don’t like… The other team or whatever that ends up being in power or whatever, it’s like we have voting and a free society for a reason. And to just throw that out because you have this plan, this technocratic dream, you have to persuade the people that this is something that is good and that they want. But I feel like this social contract of Western societies has been broken. We’ve been manipulated and deceived by the leaders to some extent about, you know, we can just swap one form of energy for another. It’ll be no big deal. You don’t have to worry. Electricity is cheaper when it comes from the wind and the sun. And every time it’s pointed out, well, actually, that’s not true. They call you a heretic or something. But Stu, what’s your take on all of this?

Stuart Turley [00:34:36] Um, I’ve never seen such a news cycle in my entire life. And I think that we are again, in the beginning stages where EVs are a, not only a litmus test for, uh, how they are going to go, so goes the, uh fossil fuel industry and the narrative is breaking down. They’re financial. Devastation will be occurring in the West soon. That financial desperation is already in the Bank of London. They are trying to acquire more assets around the world and refinance their balance sheets. When that happens, war happens. Oh yeah, a lot of that’s going on right now. So when you take a look at what’s going on, it really frightens me in a lot of ways, but I see a lot of great things coming around the corner as it all settles down.

David Blackmon [00:35:44] So Robert de Domenico has a point here that I want to expand on. The Chinese are just lucky that tampon, tampon Tim was there during Tiananmen Square that Minnesota governor Tim Walz, who over the weekend, by the way, uh, told an audience that he was speaking to that China has more quote moral authority than the United States to broker a peace deal. Between Israel and Iran. What? Did he say that? This was the vice presidential nominee of the Democratic Party in the United States in the last election, saying that China’s government has more moral authority than the United State’s to broker an international peace deal, which of course isn’t gonna happen, but it just shows you the mindset that we’re dealing with and the doubling down on that kind of stupid. By Democrats in the United States and other left-wing parties in the other Western democracies.

Tammy Nemeth [00:36:48] You know, that echoes what they were talking about throughout the 70s, when people of the left would often say that the Soviet Union has the moral authority over what the United States was doing, you know, whether it was in Vietnam or whatever. But that’s a that’s, a very familiar trope on the left. It’s just it’s interesting that it’s that high up in the Democratic Party. It’s like they’ve been taken over by. This radical element is really sad to see.

David Blackmon [00:37:19] It’s pretty wild. And, uh, I had a friend tell me Friday. I had along conversation with a friend on Friday. You’ve told me that, well, you know, ultimately cooler heads are going to prevail in the democratic party. And I, and I said, well who do you think those cooler heads are in the Democratic party? Because I don’t see any honest to God, it’s hard to see one. Obviously it’s not.

Stuart Turley [00:37:44] Jazzy from Texas is absolutely

David Blackmon [00:37:46] has been propped up prior to South Dallas. She’s, she’s quite a cool head. Um, AOC, um, it was AOC was, uh, at a campaign event over the weekend for the outright Marxist candidate to be mayor of New York city. He’s proud Marxist. He doesn’t even try to, to hide it. And it’s like. You know, this is, AOC is going to be a serious contender for the Democratic party nomination in 2028. I mean, it’s already being set up and she’s going to be one of the main opponents for Gavin Newsom, who’s not a Marxist. He’s just an idiot. I wonder

Stuart Turley [00:38:35] Does Jazzy drive an EV?

David Blackmon [00:38:38] I don’t know what she drives. She is entertaining though. She’s at least entertaining.

Tammy Nemeth [00:38:45] It’s amazing how quickly her student debt was paid off once she became a

David Blackmon [00:38:50] funny how that happens. It’s amazing how, uh, AOC has been able to become worth something like $18 million now making $156,000 a year as a congresswoman for eight years.

Tammy Nemeth [00:39:04] So what happened to tax the rich?

David Blackmon [00:39:06] Yeah, right. Exactly.

Tammy Nemeth [00:39:09] Is she giving up her money to the people?

David Blackmon [00:39:12] I don’t think she is. It doesn’t appear that way.

Stuart Turley [00:39:15] You know it we sit back and we went from EVs and now we went to jazzy and.

David Blackmon [00:39:21] All interconnected

David Blackmon [00:39:24] connection.

Stuart Turley [00:39:25] I still think it’s funny that Bernie got the shaft, because I admire Bernie for one reason. He’s been a communist his whole life and he’s remained true to his communist beliefs. I got to hand it to him. He is a

David Blackmon [00:39:43] Well, except for the three lake houses in the Maserati and the Lamborghini, but yes, other than that it’s

Stuart Turley [00:39:49] Other than that, but he’s been that way his whole life, so you got to hand it. And then have the rug pulled out from under him. I don’t know how he can remain a Democrat.

Tammy Nemeth [00:40:03] I thought he wasn’t he an independent or does he actually call himself a Democrat?

David Blackmon [00:40:07] He calls himself a Democratic Socialist Independent, but he’s It’s kind of in the main, you know, I’m kind of in the right of center mainstream of democratic parties thought process now.

Tammy Nemeth [00:40:21] That’s crazy that a Bolshevik wouldn’t be.

David Blackmon [00:40:24] The Honeymoon in Moscow Okay, let’s go to the, we’re probably getting in trouble now. So let’s, go to, the articles for the week, starting with Dr.

Tammy Nemeth [00:40:41] Okay, so I have two articles here, one about the UK, one about Canada. So the first one is in the telegraph. It’s a piece by Kathryn Porter. And the title is Britain’s electricity grid is dangerously outdated. Now when we had her as a special guest on the podcast a few weeks ago, she talked about how the like the if you if you’re not watching this online. There’s a picture of the substation. On fire that took out Heathrow Airport back in like February or whatever it was. And what’s interesting about that substation, as she goes on to say in the article, is that it was built in the 60s. So we have substations across the UK, a significant portion of them, I want to say it was around 30% or more, were built in the 60s. And they need upgrading, but they don’t want to put the investment into upgrade. And now when they’re putting all this unreliable wind and solar onto the grid that requires a lot of fluctuation with the frequencies and so on, the grid can’t take it, especially this old tech. And, you know, there’s these backlogs for equipment or for parts and whatnot. And they they need to be making these massive investments. Don’t know where they’re going to get the money from because apparently there’s a black hole in the British finances but yet they’re spending lots of money on various things including defense and solar installations and wind turbines and so on but the grid is dangerously outdated. It’s a fantastic piece by Kathryn, as usual, filled with lots of really great data. The other article is related to our conversation today about EVs where it’s by Joseph Fournier in Western Standard and the title is Gearing Down in Ontario. And he goes through all the different subsidies that I’ve been discussing today that Canada’s done for EV production and the supply chain and to have these zero emission vehicle mandates. And he goes on to talk about. The North Volt, 4.6 billion for North Volt. 13.2 billion for Volkswagen. 15 billion for Stellantis. 1.6 for a Japanese battery company and so on and so forth. Where it’s like 44 billion just gone to support this EV supply chain. And now of course, with the United States not. I’m pushing forward on this, because I think the plan was that Canada would subsidize this growth by shipping some of it to the United States, because the auto industry is quite integrated. But now it’s like, oh no, what are we going to do? And the Liberal government, because most of their voters are in Ontario and Quebec, are like, don’t worry, we got your back, we’re going to spend all this money. To make sure you stay afloat and we keep all those great manufacturing jobs in Ontario and Quebec. Meanwhile in Saskatchewan is the the biggest rapeseed or canola oil canola producer in the world and there’s a thousand percent tariff from China on Saskatchawin canola and the the federal The government’s done nothing. So it’s like when it’s an industry in Western Canada, nothing happens, but when it is an industry in Ontario and Quebec, suddenly the sky is the limit on how much money you can throw at it. Now of course this is also related to net zero and even though net zero wasn’t talked about at all during the election the ministers for the government are coming out saying oh yeah net zero by 2050 and we’re going to do the evie mandate and that’s 2035 so you better start picking out your evie now so um i highly recommend those two stories and yeah that’s it for me

Stuart Turley [00:44:44] So pick out your EV at $50,000. And in four years when the battery needs to be replaced, you add another $30,000 on top of that $50 thousand car instead of driving your ICE car for 20 years.

Tammy Nemeth [00:45:02] Well, they don’t even work in Western Canada anyway. It’s too cold. It’s to cold in winter. They don’t run. I remember there was this one person in Saskatchewan and they bought one of those little, I think it was the smart car and it was an electric one or it was in electric mini or something. And I’m just like, oh, you’re driving that in winter? That’s a bad idea. They complained and wanted to sue the government because they were like I was told this would work in winter and I can’t go ten minutes and it’s dead You’re in minus 40, what do you think and I got to keep it plugged in and it still doesn’t start so it’s Yeah, I don’t know. It’s crazy. I don’t know how it’s gonna work in Canada It you know, California is one thing Southern California where it’s nice most of the year But in Canada, with really extreme conditions, it really, really makes no sense. Oh, yeah, so you can find me on my website, the name of report dot com or on sub stack where I try to write something every week. The Nemeth Report dot Substack.com and hopefully I’ll be able to have an article this week about the EV issue and Melanie Jolie’s speech to the auto manufacturers last week, because it was just the most bizarre thing I’ve ever seen and actually is not good for Canada.

David Blackmon [00:46:31] Okay. This would be me. Um, so the wall street journal. Oh my God. Um, I’m, I, I I’m becoming not a fan of the wall Street journal is the headline would indicate. This is one I wrote on Substack, I guess yesterday, actually it’s time flies. Um, this is about a story that was, uh, written by someone named Katherine Marvel, not captain Marvel, Katherine Marvel. Um, about, uh, and he just goes through, uh all the various plans for geo geo engineering.

Tammy Nemeth [00:47:08] Geo engineering, yeah.

David Blackmon [00:47:09] Uh, you know, chem trails and putting dirt into the oceans to deacidify them and all these crazy, I mean, plans by these, these out of control billionaires like Bill Gates that any sane person believes are insane, but have a lot of money behind them to try to geo engineer our climate, the earth’s climate without even having to get government approval, there’s billions and billions of dollars being invested into these kinds of projects that, that are free to go forward, I guess, in, in many countries without any government interference at all or regulation. And, uh, that have the potential to really do incredible harm to everyone on earth. And it’s insane, but this writer at the wall street journal thinks it’s all just great. And because, you know, we’ve got too much plant food in the atmosphere, everything’s driven by that. Um, the other one is a piece I had at the daily caller on Saturday. Uh, Trump ends Gavin Newsom’s terrible week by killing his EV mandate, governor Newsom did have a really bad week last week with all the rioting happening in Los Angeles that he appears to be completely unequipped to deal with in any effective way. Uh, and it’s just killing his chances to be the Democrat nominee in 2028 and You know, that’s cool with me, but the problem is all the other options are just as bad or maybe worse. Um, but yeah, as we’ve already discussed, the Trump administration did, uh, or Donald Trump, president Trump did sign those three resolutions that, uh, will have the effect of repealing his, his, uh, EV mandate, which is really one of Newsom’s pet projects as governor, unless California and these other 10 states are able. To prevail in court. We’ll see how that all turns out, but I don’t think the governor has much reason for optimism. And then you can find me on Substack. Oh, wait, what is this?

Stuart Turley [00:49:21] I put this in there, David.

David Blackmon [00:49:22] Oh yeah, look at that. I actually put a coat and tie on for a TV deal on NTD news on their evening newscast. It was the first time I figured it out is the first time I have put on a tie in two years. So, um, you know, and my shirt still fit. It was all great, but I haven’t bought a new tie. So that tie that I was wearing, there’s probably 15 years old. Cause I don’t think I bought a new tie in like eight years. Anyway, um But yeah, so that was again on the Trump killing the EV mandate is big news. You know, everybody’s covering it and that’s good. And here you can also find me on Substack at, uh, what is it Blackmon.substack.com. It’s called energy transition absurdities and boys at a target rich environment.

Stuart Turley [00:50:15] Yes, it is. And Irina is out having fun today, but her substack is IrinaSlav.substack.com. I believe we will have that in the show notes. She is a fantastic authoress. Um, I’ll tell you, uh, I love all of her Substack and stuff. And we’ve already talked about the one stories here, but I’ve got a couple stories here. The Israeli targets, the South Pars gas field, escalating airstrikes and re. Iran retaliates. You know, it, it is really a change. When you take a look at, um, Morgan, uh, the banks were out putting out and saying, we’re going to see $60 oil and now, uh they’re putting out. We’re going see $140 oil. So, you know, who’s, who to say it’s like, come on guys. The fact that the Leviathan field has been shut down by Israel, Egypt is now having some serious problems. They’re having some energy crises around. This brings up some really, really big points about energy crisis around Iran and how it’s coming around the world. I still think we’re going to be around the $75 to $80 range for a while. I don’t see Iran and this other one. Uh, they threatened to close the, uh, straight of hormones, but David and Tammy, they’ve got, uh boats, you know, they’d been, uh severely crippled. Another large number of us tankers took off from the East coast this morning, yesterday morning, I believe in the last 12 hours heading to the middle East, this is not good news. Uh, the Nemitz is a 50 year old carrier that is supposed to be retired next year. It is now on the way to the Middle East. This is not a good, good thing at all. The war comms need to be voted out and I am tired of any kind of war. And, um, I see oil as a $75 to $80 range. Huge issue, just wanted to throw those out there.

Tammy Nemeth [00:52:34] Will that increase investment, do you think, in like a? Development in less troubled areas.

Stuart Turley [00:52:46] I think your question is absolutely outstanding and back to our earlier conversation with EVs and investments, we are seeing a tremendous investment from foreign countries in the United States. ADNOC is now investing in Australia in a $17 billion acquisition. Uh, they’re promoting that one. They, they. You take a look at Saudi Arabia’s investment into energy in the United States. They can now take royalties all the way from the Haynesville all the way out on 20 year, 15 year contracts. We’re taking a look at Japan’s Jira taking and investing in the United States so as we sit here and we talk about the net zero of the Canada, EU. And the UK, where’s the money going? It is not going into the renewable section of the United States. Trillions of dollars are going into nuclear and fossil fuels and pipelines in the United States for energy security, for their energy security. Where I think the the real change is going to be is when the CO2 uh, is declared as David brought out, uh, and through either through executive order or however that is going to play out through the, uh finding, you know, when they, when they do come through with that, all of this is tied to the EVs you have the net zero financial deindustrialization, or you’re going to have all the investment into fossil fuels, which are Um, again, the molecules in the fossil fuel are changing to looking instead of looking for oil and it’s going to be looking for natural gas as the number of tankers that are being built are LNG powered around the world, the ship carriers, the big truck. All of this is gonna be changing and it’s gonna be lowering emissions. That to me is a logical step. Lower emissions. Let’s get the emissions lower and have a least amount of impact on the environment while remaining fiscally responsible. Net zero cannot happen. So let’s be fiscaly responsible. Wouldn’t that be a change? Wouldn’t it? Great question, Tammy, and I hope I answered that in a roundabout way, but you can find me on energynewsbeat.co. We’re still averaging on a Sunday 50,000 people. On a normal day, about 100,000 on that site. Our new substack is energynewsbeat.substack.com. We have a lot of fun out there and I just have been reached out by some folks in Helsinki to interview me on some of my articles out there. So it’s kind of fun. You got to like that. How did I know what I knew, what I knew, I don’t know.

Tammy Nemeth [00:56:17] Well, you know, it’s interesting because this morning the IEA’s newsletter, the energy mix came out where they were talking about energy investment. They were lumping in together for how they do their statistics is that if people, if countries are investing in grids, nuclear, wind and solar, whatever, they put that all under alternative energy investment. So they’ll say that their assessment says that countries are spending twice as much on all those things instead of oil, natural gas, and coal. But it’s like the grid, they’re spending a lot on the grid. But the grid is in between those two. If you’re ramping up your grid or improving or spending on upgrading and so on, that’s not necessarily an investment in wind and solar. You’re trying to make sure that your grid is reliable. So I think it’s another one of these statistical tricks to put grid investment in. In order to bump up the number for wind and solar, and to include nuclear in there as well.

David Blackmon [00:57:35] Well, folks, this has been a very, very interesting, wide ranging, but all connected discussion, right? I mean, I think we did actually a kind of a service here, connecting the dots between all these events that are happening all over the world and why they’re happening, and I really appreciate you guys. This is my favorite hour of the week every week. Uh, we missed our arena, but she’ll be back with us next week. And all you folks who asked questions, made comments. Thank you so much. If you enjoyed this show, you can find us out there on YouTube. Please like and subscribe the episode. We would love to have that. It’s free. Doesn’t cost you anything, but a couple of finger clicks. So, you know, we’ll get carpal tunnel syndrome from it either. And, uh, I hope everybody has a wonderful week like I’m planning to do.

Stuart Turley [00:58:32] All right.

Tammy Nemeth [00:58:33] And thank you so much for all the comments, everybody love it.

Stuart Turley [00:58:36] All right. See you guys.

David Blackmon [00:58:37] See y’all next week.

Tammy Nemeth [00:58:38] See you guys.

David Blackmon [00:58:39] Same time, same station.