One could assemble news stories like the ones below just about any day of the week:
Ford Loses Another $5.1B On EVs.
This week, Ford Motor Company reported that it lost $5.1 billion on its EV business in 2024. …
Kelley Blue Book reported that Ford’s EV sales were 30,176 for the fourth quarter and 97,865 for the entire year. Therefore, Ford lost $46,394 for each EV it sold in the fourth quarter and $52,113 for each EV it sold in 2024.
For the full year, Ford reported net income of about $5.9 billion. Thus, Ford’s operating losses on EVs were nearly equal to its total profits.
How long will shareholders stand for that?
Activist fund pushes BP to cut costs and ditch green investment. BP went woke, renaming itself and insisting that BP doesn’t stand for British Petroleum. What does it stand for, then?
The activist investor that has amassed a £4 billion position in BP is pushing for the British oil giant to emulate Shell’s strategy in cost-cutting and ditching green investments.
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Elliott hopes to see BP scale back its capital investment, pursue the highest-return prospects and sell off significant parts of the group to cut debt and ditch “ideological” investments, the source said.
The reality is that corporate managements around the world have violated their fiduciary duty to shareholders by putting ideology above profit. Massive, multi-billion dollar shareholder lawsuits should follow.
Giant gas field discovery could power Britain for a decade. The subhed: “Exploiting the find could add up to £112bn to GDP and create tens of thousands of jobs.” Does anyone imagine that Britain’s Labour government will fail to capitalize?
Its preliminary work suggests that the field, centred on the market town of Gainsborough, is so large that it could benefit the whole UK economy, boosting growth through more jobs, increased tax revenue and cheaper energy.
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Deloitte estimated that exploiting the Gainsborough Trough field could add up to $140bn (£112bn) to GDP, yield $34bn in direct taxation and create tens of thousands of jobs. It said that CO2 emissions would be 218m tonnes lower than if Britain uses imported gas instead.
That last is basically a fig leaf for politicians who are not yet ready to admit that “net zero” is a joke.
The tide has turned on “green” energy, which in fact is devastating to the environment. Every day, we are seeing a return to common sense and a re-prioritization of affordable and reliable energy. This obviously is the philosophy of the Trump administration, but the same thing is happening around the world. And, in a sign of the times, Greta Thunberg has moved on from being grotesquely wrong about energy to being grotesquely wrong about the Middle East.
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