CEO of Forbes, Steve Forbes, recently slammed the Biden administration over their “socialist” agenda to push consumers toward electric vehicles by means outside of free market economics. Forbes points out that since the push ignores market principles, it is inefficient and mismatched with consumer demand.
Forbes says this is a prime example of “top-down government regulations” that seek to control an industry beyond what consumers and businesses contractually agree upon. Therefore, electric vehicles are ultimately an inferior product produced from billions of government subsidies. See a clip of Forbes’ commentary below.
Forbes initially points out the financial losses Ford is taking from their EV endeavors, “Ford Motor announced last week that it will lose $3 billion in electric vehicles this year. Welcome to the unsustainable folly of modern socialism.” The CEO continues, “The news that Ford Motor will lose $3 billion in 2023 on its electric vehicle business underscores the astonishing foolishness of the Biden administration’s relentless push to undermine traditional free enterprise in America and replace it with a government dominated economy.”
He then discusses the global push for socialism western nations are seeing, “The Bidenites are hardly alone in their push for moderate socialism. Europe, Britain and numerous other nations have long been moving in a similar direction. Modern socialist realize they control the economy, not by formally nationalizing companies, but rather by regulation.” Forbes also points out the long-time regulatory burden the government has had on the automobile industry, “The operations the auto industry, have for decades been warped by fuel mileage standards that had manufacturers turning out a lot of vehicles, no one really wanted to buy in order to meet arbitrary fleet standards. Now the industry has been pressured. To go whole hog to turn out a class of automobiles and trucks. Most people don’t want electric vehicles EVs. Worse. Manufacturers have been pressured into promising to put the internal combustion engine on the way to the Smithsonian Museum.”
“They promised that sometime in the next decade, it will no longer turn out vehicles fueled by gasoline and diesel oil states like California or decreeing such a ban by the mid 2030s,” the executive said about legal initiatives against gasoline engines. Forbes goes on to slam the entire basis for renewable energy, even explaining how some green energy is actually terrible for the environment, “The credible evidence that junking the internal combustion engine will save the planet is non existent. The massive environmentally catastrophic mining necessary to replace fossil fuels, not to mention the costs. They only undermines the case for mandatory EVs. Also, undercutting the rationale for this bush is the horrendous recycling problems that will be coming from so called renewable energy sources. Starting with those 1000 pound batteries, and those hundreds of 1000s of tons of non recyclable plastics from wind farms. Ford Motor briefly proclaims that EVs will turn the corner in a few years.”
The CEO illustrates how Biden is completely undermining free enterprise since consumers clearly aren’t completely ditching their cars for EVs because, “Otherwise, you wouldn’t live hundreds and hundreds of billions of dollars in subsidies and tax credit and future laws forcing people to buy what they don’t want.” Forbes concludes his statement emphasizing the need to call out socialism and embrace free market economics, “What’s happening in autos, is a legal coupling of commerce and big government. And autos are not alone as chip makers banks and others are discovering. For a future well being. Modern socialism must be recognized for what it is and resist it.”
.@SteveForbesCEO rips the Biden Administration's "socialist" push toward electric vehicles, which will cost Ford billions and represents the folly of top-down government regulations seeking to control industry. #WhatsAhead pic.twitter.com/oHvyg9x0bd
— Forbes (@Forbes) March 28, 2023
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