Here’s Part 2 of my coverage of Joe Rogan’s interview with Peter Zeihan. (Part one is here.)
First up, covering familiar ground for BattleSwarm readers, why China is screwed.
The rich world was a population column from [as opposed to a pyramid] 1945 to 1992, and with the end of the Cold War, the developing world became a column in 1992 until now. The problem is that this is all temporary, because birth rate keeps dropping. People keep living older and your column eventually inverts into an open pyramid upside down. And now you no longer have children, you no longer have a replacement generation at all, and there aren’t enough people in their 20s and 30s to buy everything, and there aren’t enough people in their 40s and 50s to pay for the retirees. So this decade was always going to be the decade that most of the advanced world moves into mass retirement, and the economic model collapses, and next decade was always going to be the decade that that happened to the developing world.
Next: Why EVs are a disaster.
There is a fascinating discussion happening in the environmental community right now, because they’re being confronted with reality. So California and Germany have very similar Green Tech policies, but the Germans have spent three times as much as California, but are only getting about a fifth as much power. I don’t know if you’ve ever been to Germany, but the sun doesn’t shine in Germany. And now, with the Russians on the warpath and their clean-ish energy from natural gas going away, they’re going back to lignite coal in force. It was already their number one source of power. The idea that Germany’s green is ridiculous, because they rely on really, really dirty coal, now especially. But there’s now a conversation going on between the German environmentalists and the Californian environmentalists about why California, in relative terms of doing so well at this, while Germany is not. And the answer is simple geography, but that’s never been part of the conversation in the environmental community before. Now it is. They should have had this conversation 15-20 years ago, but they’re having it now. And as soon as they come to the conclusion, unwillingly but they’ll get there, that we have to choose where we put our copper and our lithium and our nickle, EVs are not going to make the cut.
This assumes that California environmentalists are susceptible to the sweet voice of reason, and that modern environmentalism isn’t half religion and half scam. “It is difficult to get a man to understand something when his salary depends upon his not understanding it.” California’s Democratic power establishment has shown an amazing propensity to impose radical solutions that bring obvious and immediate harm to people that are not them. Why should they worry about forcing other people to buy pricey EVs when they already have theirs?
Next up: The drug war, both here and in Mexico.
He’s not a fan of legalizing cocaine:
Also says that cartels are now laundering money via marijuana dispensaries using the federal reserve.
And he’s not a fan of Crypto:
Bonus: “Maxine Waters is not exactly the brightest person in congress.”
The combination of pretending to transition to a green energy future combined with dependence on Russian gas and the fallout of the Russo-Ukrainian War has Germany looking at some very tough choices:
Zeihan talks about how Germany “fudges” some of it’s green energy pledges. (In a previous video he mentioned some bit of legerdemain where they don’t count fossil fuel baseload power that spins up to take over for solar at night.) So exactly what has Germany’s much-vaunted green energy programs accomplished? Not much.
In 2000, Germany obtained 84 percent of its energy from fossil fuels. By 2019, it was 78 percent. As Vaclav Smil pointed out a couple of years ago, at this rate, Germany would still be deriving 70 percent of its energy from fossil fuels by the year 2050.
Sure, Germany hasn’t managed to transition away from fossil fuels, but they have managed to make their energy infrastructure expensive and unreliable…
Ukraine fights back, Biden isn’t going to do jack about it, Kyle Rittenhouse is going to sue everyone, inflation soars, the Canadian “emergency” is ended, disaster looms for Democrats, and Ilhan Omar gets an unusual challenger. It’s the Friday LinkSwarm!
While reports of the battle are confused and preliminary, it appears that Ukrainian forces counterattacked, shot down some Russian helicopters, and have so far been able to prevent the Russians from landing reinforcements. Initial claims that the Russian force at the airfield had been “destroyed” were later clarified; it now seems that the battle at Gostomel is continuing. It’s easy to understand how crucial this battle is, simply by looking at a map. If the Russians could gain control of the Gostomel airfield, they could score a quick knock-out of the Ukrainian capital as part of what is being called their “decapitation” strategy.
Russian news services are claiming they’ve taken the airfield, but that may be stale news or propaganda.
The invasion of Ukraine by the armed forces of Russia at Russian President Vladimir Putin’s orders marks the first time since 1945 that Russia has engaged in a conventional war with a near-peer nation.
Ukraine isn’t restive Warsaw Pact nations, it isn’t Afghanistan, it isn’t Chechnya, it isn’t Georgia, and it isn’t Crimea.
The conflict launched by Putin is on a far grander scale than the invasion of Crimea in 2014, launched as Ukraine’s last pro-Russia president, Viktor Yanukovych, was driven from office in a popular uprising.
Putin, by choosing to reach beyond the ethnic-Russian majority separatist provinces of Donetsk and Luhansk in the Donbas Basin, has decided to end the independent, Western-looking Ukrainian government of President Volodymyr Zelenskyy and install a pro-Putin quisling.
And while the fog of war, some deliberate mis-and disinformation operations by the combatants, and the far-from-perfect filter of Western media leaves much unknown at this time, what is known is that Zelenskyy is still in power a day after the Russian offensive. Further, the Ukrainian military appears to be taking a toll on the Russians invading from three sides: south across the Pripyat Marshes from Russian satellite Belarus; west from Russia, including Donbas; and north from the Black Sea in the region of Odessa and Transnistria, a Russian client breakaway state in Moldavia.
Modern conventional war is extremely difficult to do well. Imagine being a conductor of an orchestra, all while the audience was lobbing soccer balls at you and your musicians as you perform J.S. Bach’s Chaconne in D — that’s modern warfare. Putin is attempting a highly complicated operation over large distances in the face of a determined foe. Further, he’s doing so with an army largely composed of conscripts serving for only one year.
Since Putin has decided to oust the Ukrainian government, this means that every day Zelenskyy remains in office is another day that adds to Ukrainian national confidence to resist — and another day that Putin looks to have miscalculated.
Vitaly Skakun is hailed as a hero after sacrificing his life to blow up the Henichesky Bridge.
The bridge was mined but a Russian column was advancing and there was no time to detonate it remotely.
Skakun radioed his unit and told them he would do it manually, saying goodbye. pic.twitter.com/6gqIFxlc01
— Visegrád 24
(@visegrad24) February 25, 2022
A Russian Military Ship telling 13 Ukrainian troops on Snake Island to surrender. They were met with a response of " Russian military Ship, go fuck yourself."
The 13 Ukrainian soldiers were all killed. pic.twitter.com/aHv7AKmSGn
— Captain Jim James (@JimJame74888138) February 25, 2022
Russia has lost 2,800 troops, 80 tanks, 516 armored vehicles, 10 airplanes, and 7 helicopters in its invasion of Ukraine: deputy defense minister.
Numbers as of 3pm Ukraine time.
— Jack Detsch (@JackDetsch) February 25, 2022
WATCH: Video shows the moment an unknown object is shot down over Kyivpic.twitter.com/BIiD76yrun
— Election Wizard
(@ElectionWiz) February 25, 2022
FULL DOCUMENT: This is the general license that US Treasury has issued exempting any "energy" related dealings from the sanctions imposed on some of the biggest Russian banks. It's so wide ranging that even includes "wood" as a form of energy exempted | #Ukraine #OOTT pic.twitter.com/3X5t0LFi3W
— Javier Blas (@JavierBlas) February 25, 2022
WATCH: AP reporter roasts Biden's State Department spokesman over the "frankly huge" list of exemptions in Biden's sanctions on Russia.pic.twitter.com/gzAWB4LwMg
— Election Wizard
Today Biden said “no one expected” sanctions on Russia “to prevent anything from happening.”
His administration has been saying the EXACT OPPOSITE for weeks. pic.twitter.com/CkvJmQLCm9
— RNC Research (@RNCResearch) February 24, 2022
Just incredible ineptitude. https://t.co/97ifdlVVAZ
— Matt Rinaldi (@MattRinaldiTX) February 25, 2022
It is the West’s wacko environmentalists who handed Russian President Vladimir Putin the leverage and money to invade Crimea in 2014 and Ukraine this week.
Without these wackos, Putin would be just another gangster in charge of a crumbling country, and maybe one on the verge of a revolution to depose him.
But the facts are the facts are the facts, and the facts are these… Thanks to the West’s environmentalists, those smug greenies who are more concerned with carbon output than world peace, this gangster controls much of the energy going to the European Union (E.U.).
Thanks a lot, Greta…
Under Carter, Russia invaded Afghanistan.
Under Obama, Russia took over Crimea.
Under Biden, Russia is invading the rest of Ukraine.
Russians do land grabs when Democrats control the White House. Democrats get pissed when you point it out. But it is still true.— Erick Erickson (@EWErickson) February 22, 2022
The galaxy-brain Bad Takes unleashed by major world events are a silver lining to tragedy pic.twitter.com/wluxa1IS6d
— Logan Dobson (@LoganDobson) February 24, 2022
(Hat tip: Stephen Green at Instapundit.)
Fellow former finance reporter Chrystia Freeland — someone I’ve known since we were both expat journalists in Russia in the nineties — announced last week that her native Canada would be making Sorkin’s vision a reality. Freeland arouses strong feelings among old Russia hands. Before the Yeltsin era collapsed, she had consistent, remarkable access to gangster-oligarchs like Boris Berezovsky, who appeared in her Financial Times articles described as aw-shucks humans just doing their best to make sure “big capital” maintained its “necessary role” in Russia’s political life. “Berezovsky was one of several financiers who came together in a last-ditch attempt to keep the Communists out of the Kremlin” was typical Freeland fare in, say, 1998.
Then the Yeltsin era collapsed in corrupt ignominy and Freeland immediately wrote a book called Sale of the Century that identified Yeltsin’s embrace of her former top sources as the “original sin” of Russian capitalism, a “Faustian bargain” that crippled Russia’s chance at true progress. This is Freeland on Yeltsin’s successor in 2000. Note the “Yes, Putin has a reputation for beating the press, but his economic rep is solid!” passage at the end:
It looks as if we’re about to fall in love with Russia all over again…
Compared to the ailing, drink-addled figure Boris Yeltsin cut in his later years, his successor, Vladimir Putin, in the eyes of many western observers, seems refreshingly direct, decisive and energetic… Tony Blair, who has already paid Putin the compliment of a visit to Russia and received the newly installed president in Downing Street in return, has praised him as a strong leader with a reformist vision. Bill Clinton, who recently hot-footed it to Russia, offered the equally sunny appraisal that “when we look at Russia today . . . we see an economy that is growing . . . we see a Russia that has just completed a democratic transfer of power for the first time in a thousand years.”
To be sure, some critics have lamented Putin’s support for the bloody second war in Chechnya, accused him of eroding freedom of the press…and worried aloud that his KGB background and unrepenting loyalty to the honor of that institution could jeopardize Russia’s fragile democratic institutions. But many of even Putin’s fiercest prosecutors seem inclined to give him the benefit of the doubt when it comes to the economy…
Years later, she is somehow Canada’s Finance Minister, and what another friend from our Russia days laughingly describes as “the Nurse Ratched of the New World Order.” At the end of last week, Minister Freeland explained that in expanding its Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) program, her government was “directing Canadian financial institutions to review their relationships with anyone involved in the illegal blockades.”
The Emergencies Act contains language beyond the inventive powers of the best sci-fi writers. It defines a “designated person” — a person eligible for cutoff of financial services — as someone “directly or indirectly” participating in a “public assembly that may reasonably be expected to lead to a breach of the peace.” Directly or indirectly?
She went on to describe the invocation of Canada’s Emergencies Act in the dripping-fake tones of someone trying to put a smile on an insurance claim rejection, with even phrases packed with bad news steered upward in the form of cheery hypotheticals. As in, The names of both individuals and entities as well as crypto wallets? Have been shared? By the RCMP with financial institutions? And accounts have been frozen? As she confirmed this monstrous news about freezing bank accounts, Freeland burst into nervous laughter, looking like Tony Perkins sharing a cheery memory with “mother.”
A city audit found LA spends $837,000 to house one homeless person. Perhaps this is why Newsom has done everything he can to block my statewide audit.
— Kevin Kiley (@KevinKileyCA) February 25, 2022
In what may be remembered as one of the greatest miracles of all time, it seems that an upcoming American election cycle is set to put an end to the great COVID pandemic in regions that have been clinging to “mitigation” tactics despite them being proven ineffective long ago. What science couldn’t do for blue state governors, politics is about to. Meanwhile, much of the rest of the country has already adopted an “endemic” approach to COVID. In my Indiana community, for instance, school systems have been in-person and maskless for well over a year.
A combination of experience and common sense led local officials to recognize that while COVID was a serious virus, and an often-times unpleasant condition to endure, we just weren’t experiencing the kind of mortality rates or critical hospitalizations that would require the suspension of normal life. If I was guessing, I would say that there are more counties, cities, and communities in the United States like mine than not.
While mainstream media may be drawn like a moth to the bright lights of urban areas with all the restrictions, mandates, and panic-fueled policies enacted there, most Americans have been “living with” the virus for a long time now.
In fact, if my community is any bellwether for the nation, most Americans are already wondering why anyone is still attempting to take a non-endemic approach at this point. The virus has proven itself to be, like all other viruses, prone to seasonal surges that are largely unaltered by our theatrical mitigation techniques. Not that anyone with their head screwed on straight ever thought there was value in wearing a porous cloth mask while standing up at a restaurant, then taking it off while sitting down, but the comical nonsense of mask histrionics is now widely appreciated as a goofy spectator sport. Behold:
So silly. And so as opinion polls continue showing that an ever-increasing number of Americans are infuriated by this nonsense, and that they are done with all the aggressive pandemic restrictions that proved unnecessary a long time ago, a public pivot of massive proportions is underway amongst the political class.
Whether it’s big blue state governors like California’s Gavin Newsom hilariously announcing that he will be transitioning his state to the country’s first “endemic” virus policy – meaning they’re going to start doing some things that Texas, Florida, South Dakota, Indiana, and so many others have been doing for over a year – or whether it’s blue city school boards like San Francisco’s being recalled by angry voters for their abusive and needless shutdown and masking policies, it’s clear where we’re headed.
Democrats know that they should be preparing for a brutal showing in this November’s midterm elections. Glenn Youngkin’s victory in the Virginia gubernatorial race last year — and, more to the point, the substance and style of his successful campaign — were the first sign of it.
But the hits have kept on coming. In San Francisco last week, two progressive parents succeeded in their campaign to oust three school-board members for being . . . too progressive. Irked initially at how long it was taking for area schools to reopen for in-person learning during the pandemic, these two single parents did some digging and discovered even more to be upset about: an enormous budget shortfall, an intensive campaign to rename dozens of school buildings, and the replacement of a merit-based admissions program with a diversity-minded lottery, among other issues.
Suggesting just how central education has become to politics, San Francisco’s intensely progressive mayor, London Breed — who last fall violated her own mask mandate at a concert and defended herself by saying she was “feeling the spirit” — endorsed the school-board recall effort.
“My take is that it was really about the frustration of the board of education doing their fundamental job,” Breed said after the results were in. “And that is to make sure that our children are getting educated, that they get back into the classroom. And that did not occur. . . . We failed our children. Parents were upset. The city as a whole was upset, and the decision to recall school-board members was a result of that.”
San Francisco–based writer Gary Kamiya suggests in a piece for the Atlantic that the results of the recall seem to confirm the conservative narrative. Kamiya writes that conservatives have argued “that the Democratic Party is out of step not just with Republicans, but with its own constituents. . . . Progressives rejected such conclusions, insisting that the recall was simply about competence and was driven by an only-in-San-Francisco set of circumstances.” Kamiya concludes that the best way to read the outcome is “closer to the conservative view.” “At a minimum,” Kamiya writes, “the recall demonstrates that ‘woke’ racial politics have their limits, even in one of the wokest cities in the country.”
Over in Texas, meanwhile, failed Senate candidate and failed presidential hopeful Beto O’Rourke is gearing up to become a failed gubernatorial candidate, too. Running against incumbent Republican governor Greg Abbott, O’Rourke was most recently seen trying to pretend that he isn’t a fan of radical gun-control measures.
Asked about the promise he made during his run for president that he would “take away AR-15s and AK-47s,” O’Rourke attempted a hard about-face.
“I’m not interested in taking anything from anyone,” he said. “What I want to make sure that we do is defend the Second Amendment. I want to make sure that we protect our fellow Texans far better than we’re doing right now. And that we listen to law enforcement, which Greg Abbott refused to do. He turned his back on them when he signed that permitless-carry bill that endangers the lives of law enforcement in a state that’s seen more cops and sheriff’s deputies gunned down than in any other.”
As Charlie Cooke has noted, this is utter tripe. It also isn’t working. The latest poll of the race from the Dallas Moring News has Abbott up by seven points, 45 percent to 38 percent. O’Rourke himself remains underwater with voters: Only 40 percent view him favorably, while 46 percent say they have an unfavorable view of the candidate.
It's a citywide race, and this result will more or less match the average partisanship of the city for the past decade or so. But this was a Dem-held seat, and losing it in this fashion has to hurt the local party. And doesn't portend well in other races.
— Yesh Ginsburg (@yesh222) February 23, 2022
Hmm, wonder why the Democratic Governors Association couldn’t host their event in a state with a Democrat governor
https://t.co/i7vxNW2XgB
— Christina Pushaw #BuckTheCDC
(@ChristinaPushaw) February 25, 2022
Found video of Bond villain Klaus Schwab's office and can confirm that he does indeed appear to possess and display a bust of Vladimir Lenin.https://t.co/DVVr9LQqKH pic.twitter.com/NmAQQk0olX
— Jordan Schachtel @ dossier.substack.com (@JordanSchachtel) February 23, 2022
Justin Trudeau’s storm troopers start arresting peaceful protesters, he wants to kidnap the children and dogs of free Canadian citizens who dared to bruise his fragile ego, Texas sends more lawsuits flying, and another case of Sudden Epstein Death Syndrome. It’s the Friday Saturday LinkSwarm!
Canadian Prime Minister Justin Trudeau cancelled parliamentary debate today as federal police began arresting protesting truckers and confiscating vehicles. Trudeau did not want to face government while the operation to break the back of the freedom protestors begins.
Early this morning, federal police assembled a convoy of heavy tow trucks to begin the operation. The identities of the tow truck companies were masked by painting over the logos to avoid retaliation. RCMP and Ottawa police then brought in Armored Personnel Carriers (MRAP’s and APC’s) to support the operation.
Media were told to leave the enforcement zone to help hide the optics of heavily armed RCMP tactical units, and they began breaking the windows of the trucks and forcibly removing the truck drivers. For the same reason, popular social media YouTuber’s, who had been broadcasting livestreams, were arrested as the operation began.
It’s public health 101: if you want to protect people from a +99% survivable virus, you trample them with horses in front of their kids and euthanize their pets and freeze their bank accounts
— Oilfield Rando (@Oilfield_Rando) February 19, 2022
The Chicago Teachers Union provides a real-world example of what happens when a government union has too much power.
CTU has gone on strike three times in three school years. In the latest work stoppage, over 330,000 schoolchildren missed five days of school. Parents were notified of the walkout after 11 p.m. on a school night, leaving them just hours to develop a back-up plan after the union decided not to show up.
This shut-down follows the 2020-2021 school year, when Chicago Public Schools was fully remote for most of the year, rolling out hybrid options starting in February 2021. All told, Chicago students had gone 17 months without fully in-person education by the time they started the current school year Aug. 30, 2021.
And students’ academic achievement suffered for it. One example: On the SATs, there was a 6.1 percentage point decrease in the number of Chicago students at least meeting standards in math – and a drop of 6.7 percentage points for the same category for low-income students – in 2021 compared to 2019.
But CTU’s political muscle – and their willingness to flex it – could become the blueprint for schools and government at all levels if Illinois’ powerful government-sector unions get what they’re asking for at the polls in November. They want an amendment to the Illinois Constitution that would give unelected government union bosses more power than state law or the people elected to represent residents’ best interests.
Snip.
Amendment 1 is billed as a right-to-work ban in a state that already doesn’t allow right to work, but it’s much more than that. It would give unions a “fundamental” right to organize and bargain over wages, hours, working conditions, economic welfare and safety at work – i.e., virtually anything – and explicitly prohibit lawmakers from ever interfering with or diminishing those rights.
Unions would be able to demand anything during negotiations and go on strike to get their demands met. Resulting contracts would carry the weight of the state constitution. Lawmakers wouldn’t be able to restrict what unions can negotiate or limit when they can go on strike without running afoul of the state constitution.
What’s more, lawmakers would never be able to repeal a little-known Illinois provision that allows many union contracts to override conflicting state and local laws and regulations.
Known in legal parlance as a “supercedence clause,” the practical effect is that a union will be able to rewrite laws it doesn’t like just by negotiating a contrary provision in its contract. If the employer doesn’t agree? The union goes on strike. And government officials’ hands will be tied.
That includes laws in place to protect children.
A provision requiring “background information” on employees of the Illinois Department of Children and Family Services – the department charged with protecting children who are reported abused or neglected – could be contradicted in the union’s contract with the state.
So could the provision prohibiting employment of “sexually dangerous” persons.
This isn’t just the crest of a wave: if Republicans offer a positive, credible alternative, as @GlennYoungkin did in Virginia, it’s the making of a realignment. https://t.co/5lzpE6B7IL
— Steven Law (@LawAmericanX) February 15, 2022
CRT got blown away by a massive truth bomb dropped by North Carolina dad — and local GOP candidate — Brian Echevarria at his school board meeting on Monday.
“As a parent, I speak to other parents,” he told Cabarrus County School Board members, “And there’s a few things we don’t want.”
“I’m biracial, I’m multilingual, I’m multicultural. The fact is in America and North Carolina, I can do anything I want — and I teach that to my children. And the person who tells my little pecan-color kids that they’re somehow oppressed based on the color of their skin,” he justly insisted, “would be absolutely wrong and absolutely at war with me.”
What’s in it for those businesses that now realize that three hundred thousand dollars a month in office space “We don’t need it anymore.” What’s in it for those employees that figured out that they can have homes that are two or three times the size for half as much money and not have to deal with a commute every day? What’s in it for them?”
FLOCK DROP MYSTERY: A security camera in Chihuahua, Mexico, captured the moment hundreds of yellow-headed blackbirds suddenly fell from the sky — many nosediving to their death https://t.co/45WA052YZO pic.twitter.com/FsZkEorTc7
— CBS News (@CBSNews) February 17, 2022
Why are corgis like this? #corgi #dogs #funny #cute #love #puppy pic.twitter.com/d1iUiXw4QH
— AnimalMemeTV (@AnimalMemeTV) February 16, 2022
Everyone in the Democratic Media Complex wants us to know that electric vans are THE FUTURE of delivery. That remains to be seen, but they sure seem to have a lot of trouble being the present of delivery.
In the fall, Jeff Bezos tweeted praise for Rivian, a start-up under contract to make 100,000 electric delivery vans for Amazon, and its founder, R.J. Scaringe, calling him “one of the greatest entrepreneurs I’ve ever met.”
Then, Mr. Bezos worked in a jab: “Now, RJ, where are our vans?!”
The comment may have been in jest, but the problem he raised is a serious one.
Amazon has an insatiable appetite for electric vans, thanks to a ballooning logistics operation and a pledge that half of its deliveries will be carbon-neutral by 2030. But that hunger is running into the reality that the auto industry barely produces any of the vehicles yet.
While consumer electric cars are finally hitting their stride — Tesla delivered almost a million cars last year — the market for commercial electric vehicles is still nascent, with their heavier loads multiplying the technology challenges. Amazon would not say if Rivian delivered the first 10 production vans in December, as was expected, and other automakers are not manufacturing at scale yet, either.
Even though Amazon owns nearly 20 percent of Rivian, it has also put in orders with other automakers, to lay claim to as many vans as it can before they are even under production.
This month Amazon said it would buy “thousands” of electric Ram vans from Stellantis, the company formed last year after the merger of Fiat Chrysler and the French automaker Peugeot.
I too stumbled over “Stellantis” the first time I saw it, a company formed from the merger of three car companies, none of whose quality screamed “reliable.” (Or, indeed, even whispered it.) But I digress.
It has also ordered 1,800 electric vans from Daimler in Europe. And it has formed a partnership with Mahindra, the Indian automaker, as part of its goal to have 10,000 electric three-wheeled vehicles on the road by 2025.
“The scale and speed at which we’re trying to do this requires a lot of invention, testing and learning, and a completely new playbook,” Ross Rachey, who oversees Amazon’s global fleet, said in a statement.
Amazon expected to have roughly 175,000 of its vans on the road by the end of 2021, according to an internal document from late 2020, nearly all of which burned fossil fuels.
That number is growing quickly. Amazon is several years — and tens of billions of dollars — into a huge push to deliver packages, shifting away from relying on large carriers like UPS. To begin the expansion, Amazon ordered 20,000 diesel Sprinter vans from Mercedes-Benz.
You saw very few of those Mercedes vans on the road before Amazon started buying them, but now they’re everywhere. But, again: gas-powered.
Through its network of contractors, Amazon now delivers more than half of its orders globally, and far more in the United States. Amazon has six times as many delivery depots now as it did in 2017, with at least 50 percent more new facilities set to open this year, according to data from MWPVL, a logistics consultancy.
That logistics boom, accelerated by the pandemic’s shift to online shopping, multiplies the challenges the company faces in meeting its pledge to reduce its climate impact. Its vow to make half of its deliveries carbon-neutral by 2030 is part of the company’s broader pledge to be net-carbon-neutral by 2040.
Conveniently far in the future that deadlines can slip long after the people making such promises are retired.
“Electrification of their delivery fleet is a really important part of that strategy,” said Anne Goodchild, who leads the University of Washington’s work on supply chain, logistics and freight transportation.
Delivery vans are well suited to electric propulsion because they usually travel 100 miles or under in a day, which means they don’t need large battery packs that add to the cost of electric cars. Delivery trucks are often used during the day and can be recharged overnight, and usually require less maintenance than gasoline trucks. Electric vehicles don’t have transmissions and certain other mechanical components that wear out quickly in the heavy stop-and-go typical in delivery routes.
This isn’t strictly true. Some electric vehicles have two-speed transmission, and they still need gears to change drive-speed ratio.
In September 2019, when Mr. Bezos announced Amazon’s huge Rivian order — the largest ever order of electric vehicles — he positioned it as central to Amazon’s commitment to reduce its carbon footprint. At the time, he said he expected the 100,000 vans to be on the road “by 2024.”
Amazon invested at least $1.3 billion in Rivian, which Amazon says is supposed to make 10,000 vans as early as this year. Amazon also locked up exclusive rights to Rivian’s commercial vans for four years, with the right of first refusal for two years after that. The companies have been testing the vans for almost a year.
In regulatory disclosures in November, Rivian said it would make the full delivery to Amazon “by 2025.” Last week, Mr. Rachey said Amazon expected to have the vehicles on the road “no later than 2030.”
Rivian declined to comment.
Yeah, I bet.
There’s nothing impossible about making an all-electric fleet. With enough money (and assuming certain Biden-era supply chain disruptions don’t get worse), it could be done by the end of next year. But whether it could be done cost-effectively is another question. Battery capacity is constantly improving, but not by Moore’s Law-esque leaps and bounds. Lots more can go wrong on a gasoline-powered car, but the technology is mature and many individual engine parts are relatively affordable. By contrast, as the man who blew up his Tesla showed, replacing current lithium ion batteries for an entire car is hideously expensive right now. That will probably come down, but no one knows by how much or how quickly. There’s a case to be made that those batteries are so expensive that electric cars are actually worse for the environment than modern gas-powered automobiles. But pointing that out commits heresy against The Holy Global Warming Narrative.
By the way, it’s not just Amazon that’s having trouble. The Postal Service is finding electric vehicles a lot more expensive than they expected.
After the USPS was criticized on Capitol Hill for its $9.3 billion plan to replace 165,000 trucks—specifically because 90 percent of them would be powered by gas combustion engines—the government-operated service went back and crunched the numbers again. In its recently released Final Environmental Impact Statement, the USPS estimates that the cost of an all-electric fleet would be $11.6B. That’s an additional $3.3B.
If that price tag seems a bit steep, the USPS estimates that it could electrify 75,000 of its vehicles—less than half of the proposed total—for an additional $2.3B ($10.3B total). Still too high? That figure is a mere fraction of the financial losses the USPS has experienced in the last 15 years. According to a report published by the Government Accountability Office in September 2021, the USPS has lost more than $87 billion since 2007 as the volume of mail it delivers has dropped.
A billion here, a billion, and pretty soon you’re talking real money…
Supply chain problems have gotten so bad that Derek Thompson at The Atlantic deigns to notice them:
The coronavirus pandemic has snarled global supply chains in several ways. Pandemic checks sent hundreds of billions of dollars to cabin-fevered Americans during a fallow period in the service sector. A lot of that cash has flowed to hard goods, especially home goods such as furniture and home-improvement materials. Many of these materials have to be imported from or travel through East Asia. But that region is dealing with the Delta variant, which has been considerably more deadly than previous iterations of the virus. Delta has caused several shutdowns at semiconductor factories across Asia just as demand for cars and electronics has started to pick up. As a result, these stops along the supply chain are slowing down at the very moment when Americans are demanding that they work in overdrive.
The most dramatic expression of this snarl is the purgatory of loaded cargo containers stacked on ships bobbing off the coast of Los Angeles and Long Beach. Just as a normal traffic jam consists of too many drivers trying to use too few lanes, the traffic jam at California ports has been exacerbated by extravagant consumer demand slamming into a shortage of trucks, truckers, and port workers. Because ships can’t be unloaded, not enough empty containers are in transit to carry all of the stuff that consumers are trying to buy. So the world is getting a lesson in Econ 101: High demand plus limited supply equals prices spiraling to the moon. Before the pandemic, reserving a container that holds roughly 35,000 books cost $2,500. Now it costs $25,000.
The container situation is even weirder than it looks. With demand surging in the United States, shipping a parcel from Shanghai to Los Angeles is currently six times more expensive than shipping one from L.A. to Shanghai. J.P. Morgan’s Michael Cembalest wrote that this has created strong incentives for container owners to ship containers to China—even if they are mostly empty—to expedite the packing and shipping of freights in Shanghai to travel east. But when containers leave Los Angeles and Long Beach empty, American-made goods that were supposed to be sent across the Pacific Ocean end up sitting around in railcars parked at West Coast ports. Since the packed railcars can’t unload their goods, they can’t go back and collect more stuff from filled warehouses in the American interior.
And what about the truckers who are needed to drive materials between warehouses, ports, stores, and houses? They’re dealing with a multidimensional shortage too. Supply-chain woes have backed up orders for parts, such as resin for roof caps and vinyl for seats. But there’s also a crucial lack of people to actually drive the rigs. The Minnesota Trucking Association estimates that the country has a shortage of about 60,000 drivers, due to longtime recruitment issues, early retirements, and COVID-canceled driving-school classes.
In short, supply chains depend on containers, ports, railroads, warehouses, and trucks. Every stage of this international assembly line is breaking down in its own unique way. When the global supply chain works, it’s like a beautifully invisible system of dominoes clicking forward. Today’s omnishambles is a reminder that dominoes can fall backwards too.
However, there are two important words missing from Thompson’s analysis: “vaccine” and “mandate.”
Like other manufacturers, petrochemical companies have been shaken by the pandemic and by how consumers and businesses responded to it. Yet petrochemicals, which are made from oil, have also run into problems all their own, one after another: A freak winter freeze in Texas. A lightning strike in Louisiana. Hurricanes along the Gulf Coast.
All have conspired to disrupt production and raise prices.
“There isn’t one thing wrong,” said Jeremy Pafford, managing editor for the Americas at Independent Commodity Intelligence Services (ICIS), which analyzes energy and chemical markets. “It’s kind of whack-a-mole — something goes wrong, it gets sorted out, then something else happens. And it’s been that way since the pandemic began.’’
The price of polyvinyl chloride or PVC, used for pipes, medical devices, credit cards, vinyl records and more, has rocketed 70%. The price of epoxy resins, used for coatings, adhesives and paints, has soared 170%. Ethylene — arguably the world’s most important chemical, used in everything from food packaging to antifreeze to polyester — has surged 43%, according to ICIS figures.
The root of the problem has become a familiar one in the 18 months since the pandemic ignited a brief but brutal recession: As the economy sank into near-paralysis, petrochemical producers, like manufacturers of all types, slashed production. So they were caught flat-footed when the unexpected happened: The economy swiftly bounced back, and consumers, flush with cash from government relief aid and stockpiles of savings, resumed spending with astonishing speed and vigor.
Suddenly, companies were scrambling to acquire raw materials and parts to meet surging orders. Panic buying worsened the shortages as companies rushed to stock up while they could.
A global energy crunch caused by weather and a resurgence in demand is getting worse, stirring alarm ahead of the winter, when more energy is needed to light and heat homes. Governments around the world are trying to limit the impact on consumers, but acknowledge they may not be able to prevent bills spiking.
Further complicating the picture is mounting pressure on governments to accelerate the transition to cleaner energy as world leaders prepare for a critical climate summit in November.
Translation: Green energy mandates = blackouts.
In China, rolling blackouts for residents have already begun, while in India power stations are scrambling for coal. Consumer advocates in Europe are calling for a ban on disconnections if customers can’t promptly settle what they owe.
“This price shock is an unexpected crisis at a critical juncture,” EU energy chief Kadri Simson said Wednesday, confirming the bloc will outline its longer-term policy response next week. “The immediate priority should be to mitigate social impacts and protect vulnerable households.”
In Europe, natural gas is now trading at the equivalent of $230 per barrel, in oil terms — up more than 130% since the beginning of September and more than eight times higher than the same point last year, according to data from Independent Commodity Intelligence Services.
In East Asia, the cost of natural gas is up 85% since the start of September, hitting roughly $204 per barrel in oil terms. Prices remain much lower in the United States, a net exporter of natural gas, but still have shot up to their highest levels in 13 years.
Wait, you mean relying on Russian benevolence wasn’t an optimal strategy? Do tell.
Steel, roofing and insulation materials are some of the most difficult products to get right now, said Ken Simonson, chief economist at the Associated General Contractors of America. Bar joists, which are used to frame roofs, can have lead times of anywhere from 10 months to 14 months.
Costs have also soared, with the index for steel mill products rising 123% YoY in August, according to the Bureau of Labor Statistics’ Producer Price Index. Copper and brass mill shapes jumped 45.3% YoY, while plastic construction products saw increases of just under 30% YoY.
A few weeks ago I spoke with several people intimately involved with large companies in my industry and they all agree that we have probably another year of supply chain disruptions and problems. That wasn’t exactly music to my ears as the last year and a half has been an intense marathon trying to keep my buildings full of product that my dealers need. The reasons are everything that you have heard before here and on other media outlets – labor shortages, raw material issues and now, chip problems.
The chip problem could be a really big issue as those chips go into printed circuit boards that control furnaces – and we need furnaces now for Fall.
My one large exception mentioned above is that my inventory levels are absolutely enormous and we are setting new records daily. This is killing my turns and as a result cash, but this is the new model. We simply can’t predict when things will come in so we have to pile in sometimes a full years worth of a widget. We are absolutely bursting at the seams and it is extremely stressful trying to keep everyone happy. We don’t dare cancel any orders as we would go to the back of the line, so it is what it is.
Freight is a major issue right now. We get damage all the time and the LTL lines are all extremely slow and sloppy. Hardly a day goes by where we don’t have a freight problem.
Parts don’t really seem to be an issue. Sure, there are certain things that we have problems with, but in general the parts world is OK so there is that silver lining.
This year, a devastating drought in North American oat fields has resulted in the lowest harvest for the cereal grain in years, pushing prices to record highs, a warning sign that breakfast inflation is imminent.
Scorching heat waves in Candian oat fields slashed production to an 11-year low. Canada, the world’s biggest exporter, ships most of its oats to the US, its largest consumer.
The result so far has been a new record high in oats futures trading on the CME. The sudden spike in prices has yet to ripple through supply chains to affect consumers, though that will be coming.
According to Bloomberg, “the situation for North American farmers was so dire in the summer that many cut their losses and harvested damaged plants to be sold as feed for animals.”
What this means for consumers is that dwindling supplies and record-high prices will soon affect foods like cereals, oatmeal, and granola bars, all popular breakfast items.
Randy Strychar, president of Ag Commodity Research and Oatinformation.com, said Cheerios, the US’ most popular cereal, is made entirely of oats. He said there’s no substitute for the ingredient: “You can’t make a Cheerio out of barley.”
General Mills, the maker of Cheerios and Nature Valley granola bars, nor Quaker Oats Company, the maker of oatmeal, among others, have yet to announce price increase of their oat products, but that could be imminent or at least create an illusion of stable prices through shrinkflation.
Before retailers can make their sales, they need stuff to sell. That’s where the trouble is this year. Container ships are packed, ports are clogged, contracts with carriers are falling to the wayside. And the rush to ship goods for the holidays is only adding traffic to what was already intense congestion.
“There aren’t enough containers. There aren’t enough ships. There aren’t enough trucks or trains. There is more volume now than any part of the supply chain pipe can adequately handle,” Burlington Stores Chief Financial Officer John Crimmins told analysts in late August. Trying to accelerate and pull forward orders “even further increased the pressure on the supply chain, helping to drive even higher rates,” the executive added.
So not only are retailers competing with each other for sales, they are competing just to get cargo space to ship goods into the country. Freight has skyrocketed as a result, and shipments still lag or even fail to materialize. Many of the bottlenecks are tied to the unexpectedly swift surge in consumer demand in the U.S. this year, combined with capacity shortfalls at numerous points along the supply chain.
Look at all these backed up cargo ships pic.twitter.com/IqcmBHhBW6
— Steve Mudflap McGrew’s REMASCULATE Podcast! (@REMASCULATE) October 10, 2021
Greetings, and welcome to the Halloween season! Manchin and Sinema are the only thing that stands in the way of a giant, economy-destroying meteor of leftwing pandering, energy crises ramp up in China and Europe, Biden nominates a commie, and more Flu Manchu shenanigans.
“What I have made clear to the President and Democratic leaders is that spending trillions more on new and expanded government programs, when we can’t even pay for the essential social programs, like Social Security and Medicare, is the definition of fiscal insanity,” Manchin said in a statement Wednesday.
(Hat tip: Director Blue.)
Wrong.
Here’s a large part of the extremely high cost though it’s likely to be even more costly.#NothingIsFree #BuildBackBrokerhttps://t.co/y1zZ5OYhqo @TPPF https://t.co/uhdS8FXVnu pic.twitter.com/QHLeJ4DEoS
— Vance Ginn (@VanceGinn) September 26, 2021
‘What if — and hear me out here,” writes Robert Reich, “we stopped letting two corporate Democrats singlehandedly block every single progressive policy we elected Democrats to pass?”
Okay, Robert. But how, exactly? The Democrats have 50 seats in the Senate. To pass a bill through reconciliation, the Democrats need 50 votes in the Senate. Two of the people who hold those 50 seats do not agree with the rest of the party on “every single progressive policy.” If the other 48 senators do agree — which is far from clear — the Democratic Party will have 48 votes for its agenda, two short of what it needs. Those two, not the Robert Reichs of the world, are the ones with the power to “stop” things.
“Should all of this just hinge on those two?” Representative Cori Bush (D., Mo.) asked yesterday. “Absolutely not.” But should doesn’t enter into it. The question is does “all of this” hinge on Sinema and Manchin? The answer is yes. Yes it does. And why? Because, again, “all of this” requires 50 votes in the Senate, and two of those votes aren’t on-board.
Underneath the complaints that Reich and Bush have leveled sits the erroneous implication that, come election time, American voters are obliged to press a button marked “Republican” or “Democrat,” and that, having done so, they are shipped a drone-like representative of the winning team from a central repository in Washington, D.C. Reich complains that “we elected Democrats.” But this is correct only in the aggregate. In fact, 50 different “we”s elected one hundred senators and 435 Representatives, who between them make up our majority and minority parties. There is nothing in this deal that obliges those emissaries to agree with one another.
Senators Manchin and Sinema are not a pair of uninvited interlopers who are unexpectedly gumming up the gears; they, themselves, are among the gears. This being so, the duo cannot be said to be “blocking” the Democrats’ de facto Senate majority so much as they are sustaining the Democrats’ de facto Senate majority. Why? Because their decision to caucus with the Democrats rather than the Republicans is the only reason that majority exists in the first place. To hear progressives talk, one would assume that in order to take one’s place within the firmament one must first swear a blood oath to Dick Durbin. Shockingly enough, one is obliged to do no such thing.
If there’s one thing we know about the looming debt limit crunch and the warnings about the dire consequences of default, it’s this: The government is not going to default.
The recurring brinksmanship over the debt limit and the partisan refusal to get Republican fingerprints on the increase don’t say much for our political class. But the U.S. Treasury isn’t full of stupid people, and they’ve been through this drill before. Back in July 2011, when the debt ceiling of $14.3 trillion was about to be reached, the Washington Post reported:
The Treasury has already decided to save enough cash to cover $29 billion in interest to bondholders, a bill that comes due Aug. 15, according to people familiar with the matter.
You can bet they’re making similar plans today. The difference is that 10 years later the debt ceiling is $28.4 trillion, just about doubled, and we’re about to bump into it again.
Back in that summer of discontent I talked to a journalist who was very concerned about the “dysfunction” in Washington. So am I. But I told her then what’s still true today: that the real problem is not the dysfunctional process that’s getting all the headlines, but the dysfunctional substance of governance. Congress and the president will work out the debt ceiling issue, probably just in the nick of time. The real dysfunction is a federal budget that doubled in 10 years, unprecedented deficits as far as the eye can see, and a national debt (more accurately, gross federal debt) yet again bursting through its statutory limit of $28.4 trillion and soaring past 120 percent of GDP, a level previously reached only during World War II.
The Cornell University law school professor [Saule Omarova]’s radical ideas might make even Bernie Sanders blush. She graduated from Moscow State University in 1989 on the Lenin Personal Academic Scholarship. Thirty years later, she still believes the Soviet economic system was superior, and that U.S. banking should be remade in the Gosbank’s image.
Snip.
Ms. Omarova thinks asset prices, pay scales, capital and credit should be dictated by the federal government. In two papers, she has advocated expanding the Federal Reserve’s mandate to include the price levels of “systemically important financial assets” as well as worker wages. As they like to say at the modern university, from each according to her ability to each according to her needs.
In a recent paper “The People’s Ledger,” she proposed that the Federal Reserve take over consumer bank deposits, “effectively ‘end banking,’ as we know it,” and become “the ultimate public platform for generating, modulating, and allocating financial resources in a modern economy.” She’d also like the U.S. to create a central bank digital currency—as Venezuela and China are doing—to “redesign our financial system & turn Fed’s balance sheet into a true ‘People’s Ledger,’” she tweeted this summer. What could possibly go wrong?
It’s like an entire century of central planning failure means nothing to her, and Henry Hazlitt died in vain. (Hat tip: Ed Driscoll at Instapundit.)
The FBI’s annual report Monday made official what most unfortunately presumed: The United States in 2020 experienced the biggest rise in murders since the start of national record-keeping 60 years ago.
The Uniform Crime Report detailed a murder increase of nearly 30 percent.
The previous largest one-year change was a 12.7 percent increase back in 1968. The national rate of murders per 100,000, however, still remains about one-third below the rate in the early 1990s.
The FBI data show around 21,500 total murders last year, which is 5,000 more murders than in 2019. More than three-fourths of reported murders in 2020 were committed with a firearm, the highest rate ever reported.
Now before you start jumping to conclusions about a correlation between the leftist fever to defund the police and a huge jump in the nation’s murder rate, you should probably be aware of the fact that the Democrats want you to know that there’s no problem at all.
That’s right, the same people who want us all to live in mortal fear of being breathed on by a stranger at Kroeger are trying to poof away a pile of bodies.
(Hat tip: Stephen Green at Instapundit.)
— James Lindsay, primo douchelord PhD (@ConceptualJames) September 28, 2021
The video: pic.twitter.com/Unhq9lsHwE
— Ruben Hofs (@rubenhofs) September 22, 2021
This is a calm, intelligent, respectful statement as to why @JJudahIsaac is hesitant about getting the Covid vaccine. Instead of screaming at those who are still figuring it out, listen to his response. pic.twitter.com/Q1xMLw8boX
— Janice Dean (@JaniceDean) September 28, 2021
China is officially panicking.
Now that the global energy crisis has slammed China’s economy, leading to the first contractionary PMI since March 2020 as a result of widespread shutdowns of factory and manufacturing, not to mention hundreds of millions of Chinese residents suffering from periodic blackouts, Bloomberg reports that China’s central government officials “ordered the country’s top state-owned energy companies to secure supplies for this winter at all costs.”
Translation: Beijing is no longer willing to risk social anger and going forward China will be subsidizing coil and nat gas, which will lead to even higher prices, which will lead to even higher prices for other “substitute” commodities such as oil, which is why oil surged on the news.
The news follows a report on Wednesday that China will allow soaring coal prices to be passed on to factories in electricity prices. But prepare for a surge in PPI, which will likely not be allowed to be passed on to CPI due to ‘common prosperity’. Which logically means margin collapse, and shutting down – so even more structural shortages. Unless we get state subsidies of some sort, or differential pricing for the foreign and domestic market. There used to be a name for that kind of economy. Wall Street used to pretend it didn’t like it.
“We don’t want normal,” said activist Earnest Greer. “We want radical change. What if everything goes back to the way it was without us completely dismantling and rebuilding the system?”
Liberals saw the pandemic as an opportunity to get people less clingy to individual freedom and more accepting of government planning significant parts of everyone’s lives. Normal would mean relinquishing that power, which is anathema to the Left.
Do you think dogs are too smart or too sweet? Or both?
#dogsoftwitter pic.twitter.com/NgdlQSGZnm
— Furry Pets (@FunnyThUSA) September 25, 2021
I didn’t expect to do another supply chain disruption update just two days after the last one, but there’s a lot more news popping up:
Residents in three north-east Chinese provinces experienced unannounced power cuts as the electricity shortage which initially hit factories spreads to homes.
People living in Liaoning, Jilin and Heilongjiang provinces complained on social media about the lack of heating, and lifts and traffic lights not working.
Local media in China – which is highly dependent on coal for power – said the cause was a surge in coal prices leading to short supply. As shown in the chart below, Chinese thermal coal futures have more than doubled in price in the past year.
There are several reasons for the surge in thermal coal, among them already extremely tight energy supply globally (that’s already seen chaos engulf markets in Europe); the sharp economic rebound from COVID lockdowns that has boosted demand from households and businesses; a warm summer which led to extreme air condition consumption across China; the escalating trade spat with Australia which had depressed the coal trade and Chinese power companies ramping up power purchases to ensure winter coal supply.
Then there is Beijing’s pursuit of curbing carbon emissions – Xi Jinping wants to ensure blue skies at the Winter Olympics in Beijing next February, showing the international community that he’s serious about de-carbonizing the economy – that has led to artificial bottlenecks in the coal supply chain.
There are over 60 container ships full of import cargo stuck offshore of Los Angeles and Long Beach, but there are more than double that — 154 as of Friday — waiting to load export cargo off Shanghai and Ningbo in China, according to eeSea, a company that analyzes carrier schedules.
The number of container ships anchored off Shanghai and Ningbo has surged over recent weeks. There are now 242 container ships waiting for berths countrywide. Whether it’s due to heavy export volumes, Typhoon Chanthu or COVID, rising congestion in China is yet another wild card for the trans-Pacific trade.
Snip.
A major driver of congestion on both sides of the Pacific Ocean: Landside capacity (terminals, trucking, rail, warehousing) is limited, but the vessel capacity of a single ocean trade lane is highly flexible.
While the number of ships in the world is finite, operators can shift ships to wherever they make the most money. And the trans-Pacific is now a particularly lucrative trade: Spot rates including premiums can top $20,000 per forty-foot equivalent unit (FEU).
“These assets [ships] are super-mobile,” said Sundboell. “What’s happening now is the opposite of what dogged the industry for the past 20 years. Five years ago, people were asking: How can the trans-Pacific rate drop from $2,000 to $1,500 [per FEU] in the space of just six days? It was because you could take a vessel from one place and sail it someplace else, and suddenly there were more ships and a price war and rates dropped.
“Now we’re seeing the opposite,” he said. As ship operators pile more capacity into the trans-Pacific, congestion rises, delays mount, the incentive for shippers to pay premiums is supported, and all-in rates remain at record highs.
Despite the backlog, the busiest U.S. port still shuts down for hours on most days and is closed on Sundays, the Wall Street Journal reports. “Tens of thousands” of containers remain stuck at the ports of Los Angeles and Long Beach. More than 60 ships are lined up to dock, the report says.
More than 25% of all American imports pass through one of the two ports. LA and Long Beach collectively manage 13 private container terminals. Long Beach officials finally said last week they would try operating 24 hours a day between Monday and Thursday. LA says it’s going to keep existing hours and wait for the rest of the supply chain to extend their hours first.
The Global Supply Chain is a &#$*ing Mess—in 4 JPM graphs
1. Dozens of containerships stacked up outside LA
2. Shipping rates to the moon
3. Global delivery times at 25-yr highs
4. Our surging demand for WFH and home improvements imports —> wild surge in eastbound freight rates pic.twitter.com/feeEzZKz7U— Derek Thompson (@DKThomp) September 27, 2021
Keep in mind: None of the supply chain issues are the result of Flu Manchu, but almost all are the result of government overreaction to it.
Texas Public Policy Foundation’s Jason Isaac has a Prager U video analysis of the reasons behind the great Texas ice storm blackouts.
The analysis will be familiar to regular readers: Over-investment in unreliable, subsidized renewable energy meant under-investment in reliable fossil fuel and nuclear necessary for base load reliability.
