California passed a law in August banning the sale of new gas-powered vehicles in 2035. Seventeen states, including Washington, New York, and Oregon, are expected to follow suit.
The same month, President Joe Biden signed the Inflation Reduction Act into law. Despite its name, the bill is the most significant climate action bill in U.S. history and won’t help inflation, non-partisan third-party analysts say.
Biden’s war on fossil fuels and climate change appears to have escalated in the past few months, but it is only the fruition of a yearslong push by the government and a mammoth private-sector investment fund toward electric vehicles as part of a “net-zero” energy-sector agenda.
In his 2022 Letter to CEOs, BlackRock’s CEO Larry Fink wrote in a letter to CEOs earlier this year that “capitalism has the power to shape society and act as a powerful catalyst for change,” but that companies need to work with the state to achieve the desired results.
“When we harness the power of both the public and private sectors, we can achieve truly incredible things. This is what we must do to get to net zero,” Fink said. The letter was only the latest advance in Fink’s yearslong campaign to combine corporate and state power to achieve his climate and political agenda.
BlackRock is advancing its corporate political agenda by accumulating money and exercising power over corporate boards. At the same time, the government is passing laws and regulations that help further BlackRock’s goals.
“In a few short years, we have all watched innovators reimagine the auto industry,” Fink wrote. “And today, every car manufacturer is racing toward an electric future.”
Net Zero Transition
Fink argues governments need to pass certain laws and regulations, and companies like BlackRock need to force change through environmental, social, and corporate governance (ESG).
That’s especially true in the transition to “net zero,” which requires replacing internal combustion engine vehicles with electric cars, according to the International Energy Agency (IEA).
The American public has shown little interest in the matter. In 2017, there were 280,000 electric vehicles sold in the United States, according to the IEA. For comparison, total car sales in 2017 were 17.25 million.
In January 2018, Fink sent a letter to the chief executives of the world’s largest public companies that, in essence, told them to commit to Blackrock’s political and climate agenda or risk losing the mammoth fund’s support. At the time of the letter, BlackRock was the world’s largest asset manager—a ranking it’d held since 2009—and, according to its 2018 Q4 report, had just under $6 trillion in assets under management (AUM).
In other words, BlackRock controlled $6 trillion in other people’s investing dollars and threatened to withhold, or withdraw, investments if companies didn’t bow to BlackRock’s demands of establishing specific environmental, social, and governance (ESG) guidelines.
In his 2020 letter, Fink took it a step further and said BlackRock would significantly reallocate its capital from “investments that present a high sustainability-related risk, such as thermal coal producers,” and screen against investing in other fossil fuels. He followed this with a warning to CEOs.
“Last year BlackRock voted against or withheld votes from 4,800 directors at 2,700 different companies. Where we feel companies and boards are not producing effective sustainability disclosures or implementing frameworks for managing these issues, we will hold board members accountable,” Fink wrote.
“[BlackRock] will be increasingly disposed to vote against management and board directors when companies are not making sufficient progress on sustainability-related disclosures and the business practices and plans underlying them.”
A major lever in Blackrock’s power arsenal comes from its control over corporate boards. Many corporations are set up so that a part of their board of directors is directly appointed by the top shareholders, who usually hold nowhere near the majority stake—their share could be as low as 5 percent or even less. In addition to the direct appointments, the top shareholders hold major sway over the vote on other board members.
According to Fink’s letter, the company exercised this corporate board power over 2,700 companies, all in pursuit of its political, social, and climate agenda.
Blackrock exercised its power further through strategic investments to advance specific policies and agendas.
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Financing the Electric Vehicle Transition
BlackRock invested in all three of the world’s largest lithium mining companies traded on the New York Stock Exchange (NYSE) and put a sizeable amount in Tesla.
Blackrock holds 8 percent of the shares of Albemarle, a U.S.-based mining firm valued at over $33 billion. Blackrock is the second top institutional holder of SQM and FMC, holding three and nine percent of the total stock, respectively.
Tesla is the most influential electric vehicle manufacturer on the planet, with a market cap of over $960 billion. BlackRock, once again flexing its institution might, is the second top institutional holder at Tesla, with around 5.3 percent of total shares.
Anything between five and 10 percent of direct or indirect holdings in a company is considered a “significant shareholding.” It gives the holder a fair amount of power when voting on how a company operates. Consequently, BlackRock has sway in some of the biggest mining companies and Tesla.
State and Corporate Guidance
Fink doesn’t believe companies can, or should, act alone in advancing social transformation.
In May 2021, IEA released the “world’s first comprehensive energy roadmap” that included the requirement that there are no new sales of internal combustion passenger cars by 2035.
The IEA said it intended its roadmap to inform high-level negotiations at the 26th United Nations Climate Change Conference of the Parties (COP26) in November 2021.
At COP26, 153 countries committed to new 2030 net-zero commitments, and “developed countries” committed to delivering a $100 billion climate finance goal by 2035.
COP26 reported that “Private financial institutions and central banks are moving to realign trillions towards global net-zero” because of the new rules, regulations, and climate goals. Months earlier, at BlackRock’s 2021 Future Forum, U.S. Special Presidential Envoy for Climate John Kerry alluded to the need for rules, regulations, and goals.
“Government is going to have to step in and … provide the guideposts and the rules of the road in order to excite that capital and obviously to give that capital the security, the sense of confidence it needs to have in order to make the longer-term investments,” Kerry stated.
At the forum, Kerry also pointed to BlackRock’s leadership in pushing the private sector to meet “climate goals.”
“There is a massive movement in the private sector which we’ve been working with very closely. BlackRock has been a leader in that effort and other American banks, the six largest American banks have been key to putting about $4.16 trillion on the table to help affect and speed up, accelerate this transition.”
As part of BlackRock’s leadership in the “energy transition,” it launched the Future of Transport Fund in September 2018.
BlackRock also launched the Global Renewable Power fund, which invests in infrastructure—something that’s needed to power the electric vehicle transition. BlackRock said it sees a $5 trillion infrastructure growth opportunity over the next 15 years.
These funds are ways to bridge the gap “between where that investment needs to occur … and where the capital currently resides,” BlackRock stated in its Future Forum.
BlackRock launched the Future of Transport fund after Fink sent his 2018 letter to CEOs demanding their companies commit themselves to improving the community and environment. The fund’s most significant jump happened in 2020, the same year Fink wrote to CEOs, stating that a “fundamental reshaping of finance” was underway.
The Temporary Trump Wrench
When Donald Trump defeated Hillary Clinton in 2016, he threw a monkey wrench in the United States’ steady push towards “tackling climate change,” energy scientists bemoaned. And as he implemented an “American First Energy Plan,” energy independence and the stock market soared, while gas prices plummeted. As a result, interest in electric vehicles was marginal.
But when Biden defeated Trump in 2020, BlackRock released a statement saying the win allowed the markets to “return” to where they were before Trump’s victory.
“We see an increased focus on sustainability under a divided government, but through regulatory actions, rather than via tax policy or spending on green infrastructure,” BlackRock stated.
The words “regulatory actions” proved prophetic. Since taking office in 2021, Biden signed several executive orders related to climate regulations and gave the Environment Protection Agency teeth by passing the Inflation Reduction Act.
Meanwhile, Biden’s revocation of the Keystone XL pipeline permit and other anti-fossil-fuel actions have led to skyrocketing gas prices. California joined the movement on the state level with the 2035 ban on the sale of new gas-powered vehicles.
Consumer interest in electric vehicles has increased since 2018, with 36 percent of Americans saying they plan to buy or lease an electric car, Consumer Reports recently found.
BlackRock Signals the Market
BlackRock has positions in 5,832 companies, according to its filings. And in 2021, it had “the strongest organic growth in our history,” generating $540 billion in net inflows (extra cash flowing into a company).
Also, in March 2021, BlackRock joined the Net Zero Asset Managers initiative as a signatory, committing itself to net zero alignments by 2050 or sooner.
As part of the move earlier this year, BlackRock announced that “an orderly transition to net zero by 2050 would benefit the global economy and our clients in aggregate.” Thus, “by 2030, at least 75 percent of BlackRock corporate and sovereign assets managed on behalf of clients will be invested in issuers with science-based targets or equivalent.”
In response to BlackRock’s move, Mindy Lubber, CEO and president at Ceres, said in a statement, “When the largest asset manager in the world ups its goal from 25 percent of such assets invested in science-based-target issuers to 75 percent of those assets, others should take note.
Lubber added that BlackRock’s new bar signaled to the rest of the market that “they need to adjust their investment strategies accordingly” because “the investor transition to a net zero emissions economy is well underway.”
BlackRock stated in its June 2022 Investment Institute report, the “transition towards a decarbonized economy is underway” and involves “a massive reallocation of resources.”
“Nearly 90 percent of the world economy now has net-zero commitments, while about half of major companies and financial institutions do,” the report said.
The corporate-government push to transition to net zero and electric vehicles is happening, and if companies get in BlackRock’s way, they risk financial loss. BlackRock did not return a request for comment.
Image by Blomst from Pixabay. Article cross-posted from our premium news partners at The Epoch Times.
Five Things New “Preppers” Forget When Getting Ready for Bad Times Ahead
The preparedness community is growing faster than it has in decades. Even during peak times such as Y2K, the economic downturn of 2008, and Covid, the vast majority of Americans made sure they had plenty of toilet paper but didn’t really stockpile anything else.
Things have changed. There’s a growing anxiety in this presidential election year that has prompted more Americans to get prepared for crazy events in the future. Some of it is being driven by fearmongers, but there are valid concerns with the economy, food supply, pharmaceuticals, the energy grid, and mass rioting that have pushed average Americans into “prepper” mode.
There are degrees of preparedness. One does not have to be a full-blown “doomsday prepper” living off-grid in a secure Montana bunker in order to be ahead of the curve. In many ways, preparedness isn’t about being able to perfectly handle every conceivable situation. It’s about being less dependent on government for as long as possible. Those who have proper “preps” will not be waiting for FEMA to distribute emergency supplies to the desperate masses.
Below are five things people new to preparedness (and sometimes even those with experience) often forget as they get ready. All five are common sense notions that do not rely on doomsday in order to be useful. It may be nice to own a tank during the apocalypse but there’s not much you can do with it until things get really crazy. The recommendations below can have places in the lives of average Americans whether doomsday comes or not.
Note: The information provided by this publication or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.
Secured Wealth
Whether in the bank or held in a retirement account, most Americans feel that their life’s savings is relatively secure. At least they did until the last couple of years when de-banking, geopolitical turmoil, and the threat of Central Bank Digital Currencies reared their ugly heads.
It behooves Americans to diversify their holdings. If there’s a triggering event or series of events that cripple the financial systems or devalue the U.S. Dollar, wealth can evaporate quickly. To hedge against potential turmoil, many Americans are looking in two directions: Crypto and physical precious metals.
There are huge advantages to cryptocurrencies, but there are also inherent risks because “virtual” money can become challenging to spend. Add in the push by central banks and governments to regulate or even replace cryptocurrencies with their own versions they control and the risks amplify. There’s nothing wrong with cryptocurrencies today but things can change rapidly.
As for physical precious metals, many Americans pay cash to keep plenty on hand in their safe. Rolling over or transferring retirement accounts into self-directed IRAs is also a popular option, but there are caveats. It can often take weeks or even months to get the gold and silver shipped if the owner chooses to close their account. This is why Genesis Gold Group stands out. Their relationship with the depositories allows for rapid closure and shipping, often in less than 10 days from the time the account holder makes their move. This can come in handy if things appear to be heading south.
Lots of Potable Water
One of the biggest shocks that hit new preppers is understanding how much potable water they need in order to survive. Experts claim one gallon of water per person per day is necessary. Even the most conservative estimates put it at over half-a-gallon. That means that for a family of four, they’ll need around 120 gallons of water to survive for a month if the taps turn off and the stores empty out.
Being near a fresh water source, whether it’s a river, lake, or well, is a best practice among experienced preppers. It’s necessary to have a water filter as well, even if the taps are still working. Many refuse to drink tap water even when there is no emergency. Berkey was our previous favorite but they’re under attack from regulators so the Alexapure systems are solid replacements.
For those in the city or away from fresh water sources, storage is the best option. This can be challenging because proper water storage containers take up a lot of room and are difficult to move if the need arises. For “bug in” situations, having a larger container that stores hundreds or even thousands of gallons is better than stacking 1-5 gallon containers. Unfortunately, they won’t be easily transportable and they can cost a lot to install.
Water is critical. If chaos erupts and water infrastructure is compromised, having a large backup supply can be lifesaving.
Pharmaceuticals and Medical Supplies
There are multiple threats specific to the medical supply chain. With Chinese and Indian imports accounting for over 90% of pharmaceutical ingredients in the United States, deteriorating relations could make it impossible to get the medicines and antibiotics many of us need.
Stocking up many prescription medications can be hard. Doctors generally do not like to prescribe large batches of drugs even if they are shelf-stable for extended periods of time. It is a best practice to ask your doctor if they can prescribe a larger amount. Today, some are sympathetic to concerns about pharmacies running out or becoming inaccessible. Tell them your concerns. It’s worth a shot. The worst they can do is say no.
If your doctor is unwilling to help you stock up on medicines, then Jase Medical is a good alternative. Through telehealth, they can prescribe daily meds or antibiotics that are shipped to your door. As proponents of medical freedom, they empathize with those who want to have enough medical supplies on hand in case things go wrong.
Energy Sources
The vast majority of Americans are locked into the grid. This has proven to be a massive liability when the grid goes down. Unfortunately, there are no inexpensive remedies.
Those living off-grid had to either spend a lot of money or effort (or both) to get their alternative energy sources like solar set up. For those who do not want to go so far, it’s still a best practice to have backup power sources. Diesel generators and portable solar panels are the two most popular, and while they’re not inexpensive they are not out of reach of most Americans who are concerned about being without power for extended periods of time.
Natural gas is another necessity for many, but that’s far more challenging to replace. Having alternatives for heating and cooking that can be powered if gas and electric grids go down is important. Have a backup for items that require power such as manual can openers. If you’re stuck eating canned foods for a while and all you have is an electric opener, you’ll have problems.
Don’t Forget the Protein
When most think about “prepping,” they think about their food supply. More Americans are turning to gardening and homesteading as ways to produce their own food. Others are working with local farmers and ranchers to purchase directly from the sources. This is a good idea whether doomsday comes or not, but it’s particularly important if the food supply chain is broken.
Most grocery stores have about one to two weeks worth of food, as do most American households. Grocers rely heavily on truckers to receive their ongoing shipments. In a crisis, the current process can fail. It behooves Americans for multiple reasons to localize their food purchases as much as possible.
Long-term storage is another popular option. Canned foods, MREs, and freeze dried meals are selling out quickly even as prices rise. But one component that is conspicuously absent in shelf-stable food is high-quality protein. Most survival food companies offer low quality “protein buckets” or cans of meat, but they are often barely edible.
Prepper All-Naturals offers premium cuts of steak that have been cooked sous vide and freeze dried to give them a 25-year shelf life. They offer Ribeye, NY Strip, and Tenderloin among others.
Having buckets of beans and rice is a good start, but keeping a solid supply of high-quality protein isn’t just healthier. It can help a family maintain normalcy through crises.
Prepare Without Fear
With all the challenges we face as Americans today, it can be emotionally draining. Citizens are scared and there’s nothing irrational about their concerns. Being prepared and making lifestyle changes to secure necessities can go a long way toward overcoming the fears that plague us. We should hope and pray for the best but prepare for the worst. And if the worst does come, then knowing we did what we could to be ready for it will help us face those challenges with confidence.
Car manufacturers will get slaughtered by EV fires litigation
These burning car wrecks are going to be horrific and
A jury trial nightmare for manufacturers.
Fires will occur frequently when more and more EVs clog the roads
People need to about these fires now not after everyone has an EV
I agree. At this point I’d be scared to park an EV in my attached garage and go to sleep.
I’m going to hang on to my cars as long as I can.
I guess we’ll find out, but I think they underestimate the creative abilities of rednecks and older generations who can seemingly make something out of junk.
Unsustainable. Unviable. This is a political pipe dream. The cars are more trouble than they’re worth. Oh speaking of worth, how about the 5 figure cost just to replace the battery. And they burst into flame on any random occasion. Nope.
“Consumer interest in electric vehicles has increased since 2018, with 36 percent of Americans saying they plan to buy or lease an electric car, Consumer Reports recently found.” Why in 2018 would EV interest have increased when the US was energy independent and the cost/gallon was relatively inexpensive, when compared to the purchase of a new EV. I do not believe the Consumer Reports attributed statement and believe it to be nothing more than an attempt to shape public opinion on the EV. What was just recently released? Something in the area of only 5-10% of Americans had any interest whatsoever in the purchase of an EV. For Americans it’s a dead issue or, “over my dead body will I be driving a golfcart.” The move towards the EV has nothing to do with “environment” but in clipping the wings of the typical American whose independence is considerably enhanced by the ownership of a vehicle that has the potential to take them anywhere in the country at a moment’s notice. Compare that to an EV that might take you 250-350 miles and then have to spend hours being recharged. The EV equals control, the EV is being promoted as a means to enslave and limit mobility. It is all part of the WEF agenda which in reality would be to have no private transport ownership at all. If you want your best interests served, look out for yourself and keep the wolves at bay. To BlackRock you are nothing but a commodity with value based on what you can do for their wealth and dominance.
Time to bust up blackrock into a thousands little pieces.
It all spells destruction of the middle class to me and implementation of “The Great Reset”. Average Americans can’t afford EV’s which means they’ll be herded into “smart cities” and forced to use public transportation. Remember “you’ll own nothing and be happy”. Blackrock is EVIL, ESG’s are EVIL and people like Larry The FINK and Klaus Schwab must be destroyed if we have any hope of retaining our rights and liberties.
BlackRock is being outed and will most likely lose their standing in the big money circles.
https://www.zerohedge.com/markets/who-else-bought-blackrocks-ldi-swindle-products
Just how would a wide scale evacuation of any town take place with everyone owning an EV? Answer that one and I might consider your obviously absurd position of forcing us to buy these mobile toxic waste dumps. Also explain to me how the oh so compassionate left ignores the deaths of the miners in the Congo. And then tell me what you are going to do when the first of these EV schoolbuses explodes and kills 20 or 30 children.
And then finally tell me why no journalist is asking one of these tough questions.
Blackrock = JEWS.