For many years Nikitas3.com has warned against electric cars, that they are 2 to 10 times LESS efficient than gasoline-powered cars. The first reason is that electricity is a highly-refined resource and it consumes energy to refine energy.
Second, batteries can lose half of their power in frigid weather and Tesla cars rely on charged batteries for their power.
There are many other reasons covered in this Nikitas3.com commentary from 2017 called Electric Cars are a ‘Green’ Fraud.
Nikitas3.com has repeatedly called the Tesla electric car company, now called Tesla Inc., a scam. It produces very expensive and inefficient cars only through billions in taxpayer subsidies. Tesla cars are purchased by rich liberals as status objects, and only when subsidized.
The name of the company is extremely disingenuous. Nikola Tesla (1856-1943) was perhaps the greatest scientific innovator of all time. He was a Croatian immigrant to the United States. His father was a Serbian Orthodox Christian priest.
Tesla developed the system for generating and distributing electricity over long distances in the 1880s. We would not have our global electricity grid without him. Tesla innovated more in the field of energy than any other single human being. He held more than 700 patents. To call a failing car company Tesla is an insult to this great man.
The founder of Tesla Inc., a white South Africa native named Elon Musk, is a fraudster. He has passed himself off as a genius when in fact his company has never met any expectations and exists only on taxpayer subsidies. One of his Tesla subsidiaries, a solar panel installer called Solar City, also relies on subsidies for its very existence.
Now it appears that Tesla Inc. is in real trouble. Nikitas3.com predicts that it will fail. Here are excerpts from a Reuters article, with a Nikitas3.com comment after each excerpt:
Reuters reports: Tesla Inc’s shares dropped the most in two years on Friday, rocked by the departure of its accounting chief after just a month and mounting investor concerns about Chief Executive Elon Musk’s behavior after he smoked marijuana on a live webcast.
Investors in the electric carmaker are on edge after a tumultuous August, during which Musk proposed and then abruptly pulled the plug on a go-private deal. Tesla said Chief Accounting Officer Dave Morton resigned because of discomfort with the public attention and pace of work.
Morton, whose departure comes after the U.S. Securities and Exchange Commission opened an inquiry into Musk’s aborted plan, joins a list of executives who have left Tesla recently.
Bloomberg also reported on Friday that Chief People Officer Gaby Toledano would not return from a leave of absence just over a year after joining.
Nikitas3.com comment: In other words, total chaos. Marijuana is only the latest sign of trouble. Musk should have been put out of business years ago.
Reuters reports: Analysts on Friday reiterated their call for Tesla to bring in another senior leader to provide more support as it strives to expand production and potentially raise more capital. Musk has said he expects the company could turn profitable in the second half of this year.
Nikitas3.com comment: The company was founded in 2003. Musk has been telling us for 15 years that profitability is just around the corner. It still hasn’t happened.
This company also has gotten 15 years of slobbering coverage from the ‘green’ media and it still cannot make ends meet. It is time to pull the plug on Tesla, so to speak.
Reuters reports: Tesla’s $1.8 billion junk bond maturing in August 2025 plunged as much as 4 cents on the dollar to below 82 cents, a record low, in Friday trading, pushing the yield above 8.8 percent.
The bond had tumbled earlier this week as Musk renewed an attack on a British caver whom he had previously insulted on social media a day after Mercedes-Benz unveiled a challenge to the electric car maker.
Nikitas3.com comment: Musk is a loon. As his own car company is failing he found time to make libelous claims about a British cave diver who was proposing a way to rescue those trapped kids in Thailand. So it makes you wonder: What is this guy smoking?
Reuters reports: Late on Thursday, Musk was filmed smoking marijuana and drinking whiskey in a 2-1/2-hour live Web show with comedian Joe Rogan that swiftly spread across Instagram and other social media.
Nikitas3.com comment: Oh, so now we know what he is smoking. And drinking. And it obviously is affecting him negatively. And affecting his company.
Reuters reports: Tesla shares, down just 1 percent after Musk’s appearance on the Rogan podcast overnight, fell as much as 10 percent after Morton’s resignation and were still down 5.1 percent at $266.75 in late morning trading.
Nikitas3.com comment: Musk will go down in history as a swindler. He even is proposing to dig tunnels under Los Angeles to alleviate traffic congestion. But we know that those massively expensive tunnels will rapidly fill up with traffic and ultimately will solve nothing… again, at enormous cost to taxpayers.
Booker’s 2020 Presidential Aspiration Takes Huge Hit
Running in a US presidential campaign is like running at the Indy 500. Everyone is at the top of their game and usually the experienced driver wins.
Then again rookie Alexander Rossi won Indy in 2016 just as rookie presidential candidate Donald Trump won in the same year.
The 2016 presidential campaign was fascinating. There were 17 Republicans running. They all appeared to be presidential material but one by one they fell as their weaknesses were exposed.
The first to fall was one of the best candidates – Wisconsin governor Scott Walker. He simply did not catch on with voters. And then others who appeared to be strong players fell one by one including New Jersey governor Chris Christie, Kentucky senator Rand Paul and finally Texas senator Ted Cruz.
Now we have various Democrat politicians grandstanding for the 2020 presidential nomination. But once they get into the national spotlight they sometimes fall apart immediately.
Take black Democrat US senator Cory Booker of New Jersey. He thinks that he is The Next Obama. But he damaged himself badly during the Kavanaugh Supreme Court confirmation hearings when he started showboating before the cameras with a crazy statement that makes us question his very sanity. Fox News reports:
Cory Booker was painted as a liberal hero in the media after his dramatic pledge Thursday to release confidential emails sent by Supreme Court nominee Brett Kavanaugh, and the adulation from the mainstream media continued even hours after it was revealed that the documents were neither particularly damning nor confidential.
The New Jersey Democrat vowed to sacrifice his seat and even compared himself to Spartacus during Kavanaugh’s confirmation hearing, so important did he deem the 16-year-old emails from Kavanaugh discussing post-9/11 racial profiling as a White House lawyer. Booker pronounced the move an act of “civil disobedience” and said he was ready to face punishment, including the loss of his Senate seat.
“This is about the closest I’ll probably ever have in my life to an ‘I am Spartacus’ moment,” he said.
“I am Spartacus”? This must be a joke. Here is Wikipedia describing Spartacus:
Spartacus (… c. 111–71 BC) was a Thracian gladiator who… was one of the escaped slave leaders in the third Servile War, a major slave uprising against the Roman Republic. Little is known about Spartacus beyond the events of the war, and surviving historical accounts are sometimes contradictory and may not always be reliable. However, all sources agree that he was a former gladiator and an accomplished military leader.
This rebellion, interpreted by some as an example of oppressed people fighting for their freedom against a slave-owning oligarchy, has provided inspiration for many political thinkers, and has been featured in literature, television, and film.
Hollywood actor Kirk Douglas famously played Spartacus in the 1960 movie by the same name, which won four Academy Awards.
First it is laughable that Booker would use such a comparison. Someday even Booker will look back and ask, “What was I thinking?!”
Second, his claim that he was making some great historical gesture that could threaten his Senate career blew up in his face.
Republican senator John Cornyn of Texas said about Booker, “All of this drama this morning apparently was for nothing and it’s unfortunate.”
Third, Booker has handed the whole world a derogatory nickname – Spartacus – that will follow him for the rest of his life. These types of nicknames have a way of sticking like glue, particularly among critics, like the name Pocahontas has stuck to senator Elizabeth Warren. Meanwhile the real Spartacus and Pocahontas were genuinely significant historical figures.
If Booker should by any remote chance be the 2020 presidential nominee he has handed president Trump a golden platter of Twitter fodder. Trump would ridicule him mercilessly for his Spartacus comparison.
But this is not even the worst of it which is that Booker planned to openly flaunt the rules of the Senate by releasing these documents. That is the truly dangerous aspect of this incident. Then again this is the modern and extremist Democrat party, willing to defy all rules of law, decorum and propriety in order to score political points.
It got so bad that one of Booker’s far-left cronies in the Senate, Kamala Harris of California, referred contemptuously to judge Kavanaugh’s pocket-sized copy of the Constitution as “that book that you carry”.
These people are a direct threat to our freedoms. Thank God for president Trump.