The green transition an echo promised or a global setback. Now, for years we've been hearing about this push to renewable everything. We're electricfying everything, We're electrifying vehicles, electric vehicles, ebs, we're electrifying home appliances. All the electrical generation is supposed to come from renewable sources like solar panels and windmills, which sounds great, right until you realize it's about as realistic as catching eleprochan and having them lead you to a
pot of gold, which is not very likely. Now, the reality of this was always going to be a factor. I've said this many times until reality hits you in the face. But now with the FED hiking rates, debt piling high, and a recession looming, we're starting to see the cracks everywhere in this push to renewables. The dam is crashing, and over just the last couple of weeks, more and more data is piling in showing just how
bad this is. So on today's show, we're going to cover the much celebrate to green transition, held as the earth saving grace, but under closer inspection, we're going to see a massive amount of economic drawbacks, environmental paradoxes and other things. We're going to see that the global push to adopt cleaner energy solutions comes brings an underreported narrative of failed infrastructure projects, slowed EV sales, and policies starting
to fall apart. We're going to look at why there was this relentless drive, why there was this push, who stands to gain the most? And we're going to look through the interest behind the green curtain, and we're going to give you strategies that you can use to protect yourself, to arm yourself amidst this green chaos. Now, if you're just tune in, you're listening to the Mark Mass Show. We're talking always about the money and the freedom and how we can protect those things as the world continues
to break apart. And today we are watching one of the biggest narratives, this green curtain, like I said, falling apart. Now, it starts with the rise and stall of electric vehicles. Of course, you know about this the EV push. We've been hearing about it in California. The EV push has
been big. But it's not just California. It's United States and it's other nations that have all been pushing for a move to electric vehicles, and not just pushing for a move to it, but as a matter of fact, mandating. This is the very key piece we're going to come back to over and over throughout this segment, mandating the switch to electric vehicles, certain goals by twenty thirty by twenty thirty five. But the problem is the market doesn't
work like that. You can't just will things into existence. There has to be demand, and that is exactly the problem that we have in the EV space. There's no demand sales or slow. As a matter of fact, Ford said that customers in North America are unwilling to pay a premium for the EV vehicles. So Ford's electric vehicle push is falling apart. The company is now postponing twelve
billion dollars in electric vehicle manufacturing investment. The CFO John Lawler said that Ford will postpone about twelve billion in spending on manufacturing capacity for evs, including a planned second battery plant in Kentucky. So this isn't just like things are bad, sales are bad. This is no, no, we're cutting spending on future production right. So these are leading
indicators that tell us where the future is going. So either we're going to have well both probably much less electric vehicles in the future because Ford's cutting back on future development and we're gonna have higher prices less supply. Now that unless the demand completely falls off the you know, off the cliff. We saw Ford's Model EV. Their unit lost about three point one billion through three quarters this year in twenty twenty three. You can't just lose three
billion dollars in a year. The full year operating loss is four and a half billion for the for Ford's E business, the EV unit. You can't just lose four and a half billion. It doesn't work like that. The markets don't support that. As part of the third quarter report we see Ford said on Thursday that it's EV business called Ford Model E lost all this money, all right,
and it's double the loss from a year ago. Now this is despite they had a twenty six percent increase in revenue, but they lost double the amount that they lost last year. And it's not just Ford. General Motors is the same thing. In a quarter three letter to shareholders published on Tuesday, GMCO Mary Barra said that the automaker would be changing course. What does that mean? Changing course? Changing course from what? Changing course from this push to
electric vehicles. They had a previous goal to build four hundred thousand electric vehicles by mid twenty twenty four by mid next year, and that's what they're changing direction. They're no longer going to project to do that. They're no longer going to try to do that because they've been having the same setbacks as forward. They're losing massive amounts of money and they're finding it on able or find
themselves unable to be able to meet those goals. GMS delayed the Silverado EV for another year due to surprise surprise, shrinking demand and engineering challenges. Some of the engineering challenges are like how the heck do we get all the materials that we need to build these things? They're just
not available in the world. GM says that demand is so down, in fact, that it's diverting one thousand employees from its Orion assembly plant in Michigan, which is currently being retooled for EV production, to other Michigan assembly facilities. So they're currently trying to build out the DV facilities and now they're just going to move everyone over. And it's not just for it, it's not just GM. Mercedes Benz. Price of their stock fell nearly six percent because their
profits fell. Why do their profits fail the same thing. The CFO said that brutal quote brutal EV pricing caused their profits to fall, so we saw their shares fall. Thursday reported lower profits, lower revenues, and highlighted pricing challenges in the e EV space, specifically, it's a bloodbath everywhere. He was quoted. The CFO was quota of saying, quote, pretty brutal space. That's what he said. And the point
is is that there is no demand. And the reason why there's no demand is nobody wants to pay these astronomic prices. And the other problem is they just don't work. We saw recently. I was I think the president of Ford went on a road trip and show and the report was like, wow, we can't really charge these things. We're going to get back to the charging thing in a minute, but what we can see is that these companies are losing money left and right, left and right,
left and right. Now. Part of the reason why they've been able to work is because of the taxpayers are bankrolling these evs. So that means you, I don't own an EV vehicle, well, I own a golf cart. But I don't own an actual My main cars are combustion engine. I don't own a v EV vehicle and you might not either. But regardless, you're paying for it. You're paying for it because taxpayers are the ones bailing them out.
Ford and GM, like I said, are slowing their production down, but the governments still spend billions of dollars in incentives. So it's the incentives that you're paying for through this. As a matter of fact, we can see well, we're going to talk about the incentives and how much they were. But earlier this year, the EPA Environmental Protected Agency, part of what's driving this, put out new rules that would require as minis two of every three vehicles sold in
the US by twenty thirty two to be electric. But nobody wants them. Nobody can afford them. The governments are running out of money. We talk about we'll talk later about some of the deficits that the government is, but right now we're spending well, as of a last quarter, we had to borrow an extra trillion, an extra trillion dollars just in borrowing for the quarter. That's how upside
down the government budget is. But yet they're spending billions of dollars to bend to change to will and do existence both the supply chain, but more importantly, the demand curves. They're trying to build the demand, but it's just not there. The buy An Administration's Inflation Reduction Act, the IRA, which is supposed to lower inflation by spending a bunch of money, put in a seventy five hundred dollars tax credit for the purchase of electric vehicles, but yet nobody is still
buying them. Millions of dollars, billions of dollars of incentives and it's all falling apart now. The math is astonishing. It just will not work. We're going to talk about that. We're going to talk about the amount of money that they're going to have to spend. We're going to talk about the deficits they have, and we're going to talk about the unrealistic numbers. I want to break down some
of these numbers for you in a minute. But if you're just tune in you're listening to the Mark Mass Show'll be back with more in a minute, talking about this blow up of this renewable market. Don't go away, We're back, all right, Welcome back. If you're just tune in,
you're listening to the Mark Mass Show. We're talking about the demise, the failure of the renewable energy push, this ESG narrative, and we were talking about at first this EV vehicle and how it's just this colossal failure, not just a costal failure, but a black hole swallowing up billions and billions of dollars. I went through some of the losses that we have there, but we can let's
dig into some of these numbers here. So according to Texas Public Policy Foundation, they concluded that EV vehicles cost tens of thousands of dollars more if not if they or they would cost tens of thousands of dollars more if it wasn't for the taxpayer funded incentives. Again, even if you don't own an EV vehicle, you are paying
for it. The report said that the average model year twenty twenty one EV would cost approximately forty eight, six hundred and ninety eight dollars more to own over a ten year period without the staggering twenty two billion dollars in taxpayer funded handouts that the government provides to electric
car manufacturers. So the car which are already overpriced, so if you look at a comparable EV vehicle to a comparable combustion engine, the amount over the premium you're going to pay for the EV vehicle, you will not save that in gas. You're not going to save that in gas. And what they're saying is if the government didn't spend twenty two billion dollars from your taxpayer of money giving them as handouts to these companies, it would cost an
extra forty eight thousand dollars. They're basically double or almost more than double the cost of the car. All right, So without your money as a taxpayer, we're not going to have it. But how do we continue to spend this money as a government when we're trillions of dollars upside down in a deficit. Now we can see that electric vehicle owners have been the beneficiaries of these regulatory credits, subsidies things like that totally nearly fifty thousand dollars per EV,
which is pretty crazy. And so the thing that's important to understand is that this goal is pushed to net zero in order to get a net zero society. It basically favors to have over the have nots. Part of the reason why there's many reasons why the rich get richer and the poor gate rapport, and most all of them are because of the government. They're caused by the government.
And this is another example of this, which is this pushing this to this zero society is going to increase this divide between the rich and the poor, the haves and the have nots. Because let's say like renters, if you're a renter, you're a low income family, well, you probably don't have a private charger to plug in your EV and so then you have to charge at public
charging stations. But the cost to charge it at a private charging station is anywhere from five to ten times as much as it would be to charge from home. So your cost would go up, your living standard would go down. Now, let's break into some math. This is what's amazing to me. So let's just take a look at California. For example, in California, we have about eleven
thousand gas stations in California. All right, places this out gas. Now, this is about one hundred and ten thousand nozzles, so one hundred and ten thousand cars could fill up at the same time. All right. Now, what this means is if we need to replace all of those with charge stations. What we would need is we need at least twenty EV charging ports for every one gas nozzle. Okay, twenty EV ports for everyone gas nozzle, and this would be by twenty thirty five to hit California's goal by twenty
thirty five. Now, the cost to build a charging port a charging station has at least four charging ports is about a million dollars. So let's just do the math one hundred and ten thousand nozzles times the twenty EV ports needed per nozzle, and then we divide it by four.
Because each station has four ports and at the cost is a million dollars, that would mean that California has to spend five hundred and fifty five billion, more than half a trillion dollars just to have the ability to charge the cars that they need by twenty thirty five. Half a trillion dollars, more than half a jillion dollars. How does that sound. Now that's in California. California's packed.
What about more remote areas? In Wyoming? Officials hired consultants to do a study, and they said that there's no chance they can have chargers in their state. They said that seven remote sites would be used so infrequently they would lose an average of about three hundred thousand dollars per site. Who's going to pay for that? Who's going to pay to lose three hundred thousand dollars per site?
And then you add on top of it that the price of electricity is going through the roof in Germany, in the UK, in California, electricity prices are going through the roof. And it doesn't take a genius to figure out why they're building thousands of wind turbine solar panels, but they can't get rid of the main power plants because they're needed for backup. So basically, now Germany, UK
and California are paying for two power plants. They need a duplicate system, so they want to run it off the renewables, but they still need the main one the fossil fuel backup at the same time, so you're paying for two. So of course the prices are going up, so it's just not working. It's an unsustainable path. Now, part of this, like I said, is not just this EV vehicle, It's about the whole push. But really I
want to go back to just one thing. The government trying to push this narrative, and this is not the way capitalism works. It's not the way free markets work. The free markets work as individuals like you and I that move in our own self interest. So when I want something, and I want something bad enough, then I would be compelled human action. Mysis wrote the book Human Action. My human action would compel me to take action. You can't push that. It has to be market driven is
from the bottom up. There's a textbook example, a marketing flop from Ford. You would think Ford would have learned this. And there was a time when Ford tried to launch a new car called the Edsel. It was heralded as the hot new car in the late nineteen fifties. All the experts and Ford executives said, it was like it was going to be the best car, was going to be the biggest thing ever. They're going to sell so
many of these units. Henry Ford, the car was named after his son, guaranteed hundreds of thousands of sales of this new car. But there was a problem. Something went wrong. Nobody ever bothered to ask car buyers what they thought of the new car, and as it turned out, they hated it. So instead of selling four hundred thousand cars. As they projected four hundred thousand, Americans bought only ten thousand.
The model was of course discontinued. But the lesson for the industry is you can't bribe Americans to buy cars they don't want. You can't do that. You think they would have learned it. You would think Detroit would have got the message, but they haven't. We saw last week Honda and GM announced an end to their two year collaboration and building a platform for lower cost evs. It's gone hanted GM. They shut it. That means they're not
going to have that future product. Amazingly, less than ten percent of all new car sales over the last two years or eves, despite the fact that the US government is writing a check for seventy five hundred dollars if you buy one, and some states are even kicking in an extra five thousand. So even with all this push, even with all this technology, even with all this money back in your pocket, it still doesn't make sense and nobody wants them. That's the problem. And the news is
even worse for wind in solar power. We'll get to that. The wind and solar power is even worse. The Wall Street Journal reported last week that clean energy investment funds are tanking. So the funds that you put your money into to invest to grow, and they're investing into these cleaninity projects, when in Solar they're tanking. As a matter of fact, summerre down as much as seventy percent in
recent months. Solar has been one of the worst performing industry stocks this year, and of course it is because it doesn't work. It takes too much money, and there's no return on capital. Investments are very simple investments. Don't care about your feelings. They don't care about emotions, they don't care about judgment. They're not spent, they're not you know, it's not up to someone to decide. It's it's numbers. It's math. So I put a dollar in, how many
dollars do I get back? Or how many dollars do I lose? It's simple math. And what we can see is that Solar is down seventy percent, one of the worst performing stocks industries stocks in the industry. Now, we're gonna come back in a minute and we're gonna break down some bigger math. We'll show you what was behind this big push, what narrative is starting to shift right
now and so much more. If you're just tuning in, you're listening to the Mark Ma Show, we're talking about the green curtain coming down, what's behind it, and ultimately what you can do to protect yourself. As this all moved forward, I got a whole lot more to cover. I'm gonna go through it pretty quickly. You don't want to miss this, so don't go away. I'll be right back. All right, welcome back. If you're just tuning in, you're listening to the Mark Mass Show, we're talking about the
green curtain. We're talking about the colossal collapse of the EV and the renewable space. We're running through all this now. If you missed any of this, you should go listen to it. Check it out on the podcast. It's all archive. Just searched the Mark Mass Show on your favorite podcast player, or you can go onto YouTube to market Disruptors and you can watch it and listen to it at the
same time. Now we're talking about how the EV space and the solar space and just investing in renewables is collapsing and we're starting to see this massive shift at the same time. So what am I talking about, Well, we saw Exon and Chevron old school fossil fuel industries are actually growing. As a matter of fact, Exon and Chevron engineered one hundred and ten billion dollar blockbuster acquisition to expand oil and gas drilling in the Premium Basin
in Texas, one of the biggest oil fields in the world. Now, this is happening despite the three hundred and seventy billion dollars green energy slush fund that's out there for him. So even though there's all this money, even though the government's trying to push this, even though there's all these incentives, they're still investing heavily into oil and gas. And as this is happening, we're watching all the investments into renewables collapsing.
We saw this week world's largest offshore wind farm developer abandons two major US projects as the renewable bust erupts now. Anyone that thought that offshore wind farms was a good idea needs to probably revisit their elementary math. We'll run through some of that, but what we can see is that President Biden and the Bide administration has been pushing this wind revolution, and now it's blowing down. It's falling down.
The world's largest offshore wind developer is abandoned them. And it's not just them, Lots of these projects are being abandoned everywhere because they're losing massive amounts of money. Again, investments don't care about any of these narratives. They care about do I get a dollar and a dollar out. You can't just go light money on fire, even if it's the government which doesn't have any money. Well, the government never has any money. The government cannot give something
it has not taken. The government can only take money from you to give to somebody else. And they're literally taking Urini money, our tax payer money and lighting it on fire giving it to these companies who are losing it all. Now, those companies, the founders, the owners, people working at the company, they're getting fabulously rich and the company burns down and we end up with nothing. As a matter of fact, we saw win this wind farm company.
They said that off New Jersey, they had two projects, Ocean Wind one and two, and they lost. Total impairments recognized in the interim financial report for the first nine months of twenty twenty three amount to twenty eight billion dollars. Twenty eight billion dollars. How the heck are they going to afford that? That was your tax money, my tax money that went to them. Again, the owner's probably got new houses and new cars, and they'd probably did really good.
And the twenty eight billion dollars is up in smoke. And we don't have the wind farms. We have nothing all right now. It's not just them, It's happening all over the place. As a matter of fact, we saw Siemens Energy in Germany crashed after the company warned its wind turbine business is grappling with quality issues and offshore ramp up challenges, challenges in like, wow, it's really difficult to go out into the middle of the ocean in a stormy sea and tie up next to these things
and fix them. Hm. Who would have thought that? Never could have imagined things like that. In the solar industry, we saw a company called Solar Edge Technology shares plunged two weeks ago after it was warned about sliding European demand. Nobody wants it again. You can't bend the will of a market, all right. It has to come from they
want it right, our own self interest. We see President Joe Biden in twenty twenty one laid out a target of deploying thirty gigawatts of offshore wind capacity during the next nine years. This was bold, it was ambitious. That's what people said. I said, it was ludicrous. It would never work, and that's where we're looking like we're at two years later. The industry has another word for it, impossible. The uf offshore wind industry's twenty thirty generation goal now
looks further away than it ever has. It looks further away because now that we've actually started trying to build it, we realized, oh shoot, all these projections that we thought were there actually aren't true. And it continues to get worse. We can see that. The industry suffered another blow last week after New York forcially rejected developers police for higher rates. So a New York developer said, hey, we can't continue building these things unless we can jack up the rates
of electricity. Remember back to the have and the have nots, the rich and the poor. As electricity prices go higher, guess what happens to the poor? The poor fall for their behind. Now the government can subsidize that with our tax money. At the end of the day, money doesn't just come from nowhere. So it can come from tax money to go to them, but it continues to drive
that gap in the rich and the poor. So New York says, no, we're not going to raise the rates, and so the developer says, well, then I guess we can't continue to build. We can see in total developers building about nine gigawatts of capacity for five East Coast states have bailed out of their deals. And not just bailed out, they've paid the get out. So what am I talking about. In July, Avon Grid agreed to pay forty eight million dollars in fines to get out of
its deal to supply power to three utilities. So they didn't just walk away. They actually paid forty eight million dollars in fines to get out of the deal. The next month, a shell unit and its joint venture partners agreed to pay more than sixty million to exit third deals. Hey, we'll just give you this sixty million. We can't do this. Sorry, here here's here's money. That's a big deal. Havn't Gread agreed to pay sixteen million to terminate contracts for its
Park City project near Connecticut. We can go on and on and on. Companies that aren't walking away. They're seeing massive losses, massive rite down to ever. Source reported a three hundred and thirty one million dollar tax environment charge for the second quarter. Three hundred and thirty one million for a second quarter. It's offshore wind operation ORSTEAD announced a potential two point three billion dollar charge on a JUX portfolio. Oh man, it's just getting bad. It's it
is all falling apart. And like I said, started out by as rates started going up, as the economy started to suffer. All these projects are exposed for what they are. Now that's on the supply side, that's on the the win the solar. But there's another market that even more insiduous, it's even more corrupt, and this is the carbon offset market. Now I've been talking about this. I did a video on my main YouTube channel, Mark Moss, like two years ago breaking down the Paris Accord and how this whole
carbon market works. And basically it's what we call greenwashing. So companies don't produce less carbon, they just buy carbon credits. And of course it was always fall full of scam and fraud, and that's exactly what we're seeing. We saw the carbon offset market faces chaos as African mega project collapses. It was one of the largest single sources of credits in a two billion dollar carbon market, faces serious doubt following the collapse of the partnership. It's a big deal.
It was backed by the world's top seller of carbon offsets. I mean, it's pretty ridiculous if you think about it. So in Africa, wherever the carbon market markers come from, Brazil, you name it, whatever, They're going to take this area of land and they're going to a forest with trees, whatever, and they're going to make sure that that stays or so people will buy into those carbon credits if those trees never get cut down, okay for two years or five years or ten years. I mean, what happens when
the government changes over the land like forever. Let me think about that. It's just insane. So we're seeing that falling apart. The project generated nearly one hundred million dollars by selling credits for more than twenty three million tons of emissions. Then the NU risk undermining one of the markets underlying insurance mechanisms, known as a credit pool. The buffer pool is falling apart. So we're witnessing it falling
apart all over and it's not just that. Here in the United States, the world's biggest carbon capture plant was quietly sold off for a fraction of what it would cost to build it. Again, more money lit on fire, millions, billions of dollars again put into a plant in Texas to capture carbon, the world's largest facility, and it's all gone, all that money up in smoke. It was sold off for a fraction of what it would cost to build it.
And the reason why because the economics don't work. You see, in a free market, it requires free trade and it requires both sides of the party to feel like you're getting a better deal. I'll certainly invest a million one dollar and take the risk if I think I can get three or four dollars back or whatever that return is. But when they don't make sense, they don't make sense. Now,
I want to play this clip here. Rep. Doug Lamalfia is a Republican from California, questioned the House Transportation Committee House Transporations, the ones that are making the rules on these cars THESEDVS. He asked them about the infrastructure investment and the Jobs Act. I want to play that clip for you in a second. If you're just tune in. You're listening to the Mark mal Show. We're talking about the collapse of the green curtain, the green narrative. It's
falling apart. I'll be back with that video clip and more in a minute. You don't want to miss it. Oh, go a way, I'll be back.
Hi.
Welcome back. If you just tune in, you're listening to the Mark Moss Show. We're talking about the collapse of the green curtain. We're talking about the ESG, the ev the renewable energy, carbon credit market is all collapsing. Now we're talking about the carbon credit market. We talked about the electric vehicles. I want to play this clip here for you. This is Rep. Doug Lemalfa as a Republican from California, and he's questioning witnesses at the House Transportation Commisser.
So these are the people in the government responsible for passing these laws, these rules, these regulations on cars, emissions, on combustible engines, evs, and stuff like that, and he's questioning them. Let's play this clip here, analysts.
Let me just go right down the vine real fast. What percent of our atmosphere is CO two?
Okay, So he's asking them, what percentage of the Earth's atmosphere is CO two, Because the big thing is CO two CO two cars it meant too much CO two, We have to bring CO two down. As if magically the CO two level is like the thermostat. We can just go over to the wall and change thermostat of the world by how much CO two is in the atmosphere.
That's the narrative, right, Fossil fuels have too much carbon, too much, too much emissions, and if we have the CO two get too high, then the worth the world gets too hot. That's the narrative we've been told, like I said, as if there's like some thermostat. Never Mind the fact that plants need carbon. Never Mind the fact that never mind the fact that as the tempature has goneup last hundred twenty years, we have more plants and
more crops, we have less famine and less starvation. Never Mind that it factually historically has actually been better for us. Human life has expanded, global wealth has expanded. Never Mind that. Never Mind the fact that plants need CO two. But they're saying that we need to adjust the amount of CO two to adjust the temperature of the world. So let's find out he's asking them. So you're gonna make these rules, You're going to push these agendas. So how
much of the atmosphere is made up of carbon? Let's hear what the answers are. Here we go, I'll buy five percent.
Right, I'll just follow you there.
We'll go, se favorite, I'll see their five and suggests that we know that transportation causes forty nine percent of CO two, so that's why we're all working on energy transition.
Right, I'm gonna pause that for a second. So they're like, oh, I guess I don't know, ha ha, I don't know either. I'll buy five percent. I don't know either. I'll do five percent. So they don't even know. The people that are in charge of making mos don't even know. Now, she said, well, we know that transportation makes up forty five percent of the CO two emissions. Okay, but what percentage are the CO two emissions in the atmosphere? Let's continue listening.
So what number you think it is?
Five?
Right?
Five?
Won't you? I didn't hear you.
It's rare, seven seven, seven percent?
Do you have one, mister Boyden?
So we got a five to seven?
This price is right? Hey, ok?
At the high hand, he's taking the over all.
Right, Well, I appreciate that, and I don't mean to I put you on is. I asked a lot of people that because all we hear is climate change, climate change, CO two CO two. I heard a couple on the panels saying, you're looking to change your vehicles to electric even though we don't have the electric grid, And me, as a farmer, I wouldn't be real happy about running out and replacing three hundred thousand dollars five hundred thousand dollars million dollar pieces of equipment because I want someone
wants it to be electric. The answer is point zero four percent.
Point zero four percent. So the amount of CO two in the atmosphere in the world is point zero four It's like a rounding error. Now they're saying that human cause of this emission is like one percent of the zero point four percent, and in the United States is probably one percent of the one percent of the point zero four percent. So these people who are making these rules to push these agendas don't even know this data. They're acting like it's going to change the world, but
they don't even know the data. And now that you hear the data, it makes up zero point four percent, So you can start to see why this is failing. It was not even necessary in the first place. So then why if it's not really doing anything, if we have these people making these rules and these pushing these agendas without even knowing, why is this even happening? Well, it's a good question. Well, like any good crime series or TV show would say, well, let's follow the money, right,
follow the money. So what we can see is that ESG investing has gotten very big. As a matter of fact, this ESG. ESG funds had zero market share or zero total map assets under management after the financial crisis in two thousand and eight, but by twenty twenty, ESG funds were sixteen trillion dollars. They went from zero to sixteen and they're projected that these funds would exceed fifty trillion by twenty twenty five. So going from zero to twenty
twenty five. However, the US which accounts for eleven percent of these ESG funds, is now seeing outflows. Money is now leaving them. Six point two billion dollars left the final quarter of twenty twenty two. And why what's causing these outflows? Well, surprise surprise. It's because the funds are not performing. They're losing money. Nobody wants to put their money into where it loves now unless the government. The government wants to do that. You and I don't want
to do that, so the results would be expected. If investors don't get returns, then they don't want to have their money in there. Harvard Business Review said, Unfortunately, ESG funds don't seem to deliver better ESG performance. So not only are they not returning investment returns, they're saying that the businesses that are running on these ESG standards are not even performing better than the non ESG ones. So they're not returning more money, nor are the businesses working better.
So what's the point. So why are these funds doing so badly? Well? As you might imagine, when they're trying to set ESG targets, they're focusing on the wrong things. Instead of focusing on building the business, they're focusing on these carbon numbers. It's the wrong thing. And then what happens is what we're seeing is when managers are underperforming their earnings, they're saying, well, but it's because we're focusing
on ESG. So they're using ESG as this excuse. Now what we've seen from that is, of course, then Blackrock, the largest asset managers of the world, had to start dissolving their ESG funds. They've been moving back from the label. And it's not just Blackrock. We've seen State Street and other funds, Henderson Group, Columbia, Thread Needed Investments, They've all dissolved their ESG funds so far in twenty twenty three. It's all falling apart. Larry Fink is even starting to
backtrack this whole thing as well. He's the head of black Rock, so we're starting to see this happen. It's all falling apart now. Well, we're also seeing this big shift too, and I don't have a lot of time to go into this. I've been talking a lot about my main YouTube channel, Mark moss is the rise of uranium.
Uranium is used to power nuclear energy, of course, so we've seen this big push and now all of sudden, we're seeing headlines coming up everywhere that uranium prices soaring as a matter of factor, up one hundred and twenty five percent since the end of twenty twenty. I've been in my financial newsletter tact classic report. We've been recommending multiple
uranium plays that have been absolutely crushing it. And we're seeing more and more reports of the massive shortage we have in uranium because all of a sudden, uranium is now green. It's now green energy per per the European Union, and so now we're starting to see more and more of these people jumping into The International Energy Agency estimates that global nuclear capacity needs to double by twenty fifty. It needs to double to meet net zero commitment. So
now the push to net zero goes into uranium. So that's how we protect ourselves. So we are going to continue to see government's light money on fire. They're not going to give up this narrative that fast, but it's going to continue to fail. They're going to continue to blow up money. Our standard of living will continue to decline as our purchasing power goes down and as your
energy costs go up. However, the world is starting to realize that we need to run on nuclear, and I think that's going to save the day, and we can protect ourselves in our own portfolio by buying traditional energy sources that work. Still bullish on uranium. Nuclear. Of course, oil and gas is not going anywhere. Exon and Chevron just did this one hundred and ten billion dollar deal, and I expect both oil gas and uranium to be
higher in the future. So if you're looking for a way to insulate yourself from all this, insulate yourself from the potential five dollars gallon gasoline prices that are projected to come, do it by protecting your purchasing power into some of these energy plays. If you're just tuned in, you're listening to the Mark Moss Show. Have been breaking down the crash of the green curtain, the evy renewable
space that's crashing down. Hopefully enjoyed this, let me know, hit me up in the comments are on social media at one Mark Moss and that's what I got. Thanks for listening.