At the beginning of March, the CEO of ChargePoint rang the opening bell at the New York Stock Exchange as it became the first publicly traded global electric vehicle charging network.
CEO Pasquale Romano told Forbes that he expected big things from the Biden Administration for the electric car business. He wasn’t alone. Investors had been pouring money into the green energy business ever since Biden was expected to take over running the United States.
Investors were waiting for the Biden Administration to go ahead with its push for 500,000 EV charging stations, and they were not disappointed. Biden’s so-called ‘American Jobs Plan’, despite its name, a series of hyperspending giveaways to China and special interests, called for those 500,000 charging stations, and ChargePoint’s stock, as expected, shot up on the news.
ChargePoint already controls as much as 70% of the EV charging market and is the likeliest beneficiary from Biden’s push to have taxpayers, many of them working-class and middle-class, subsidize wealthy Tesla and luxury electric SUV owners, with convenient charging stations for their urban and suburban lifestyles.
While Biden’s $174 billion electric car plan is bad enough, some estimates put the EV charger component cost as high as $50 billion. Higher end chargers can run to as much as $260,000. That means a single EV charger for rich Biden voters can cost over 10 times the price of a basic car. All of this is being done to benefit a car owner demographic with an average income of six figures, who tend to be younger, wealthier, and are already subsidized by working Americans.
Biden’s green plan means $260,000 EV chargers for the rich, higher taxes for everyone else.
Blue states already offer thousands of dollars in subsidies, often at the expense of working-class car owners, and the Biden administration’s plan adds to that massively.
But why is the Biden administration so obsessed with EV charging stations specifically?
“Electric vehicle revolution! The #AmericanJobsPlan will help us build a network of 500,000 EV chargers,” Secretary of Energy Granholm had tweeted excitedly.
When Biden picked Jennifer Granholm to be the Secretary of Energy, she, like many public officials, had a complex history of radical advocacy and special interest involvements.
But one part of her career has received very little attention even in light of today’s announcement. And that may be inevitable because asking the media to report on conflicts of interest involving Biden officials, instead of on his dogs, may be asking too much of journalism.
In 2016, Granholm was picked to serve on ChargePoint’s board of directors.
read more here: https://politichicks.com/2021/04/the-big-winner-of-bidens-green-energy-plan-is-his-energy-secretarys-old-company/
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