And Tesla exceeded VW's early October (2019) market cap today. Guessing Tesla may be VW's market cap in a few days when Tesla announces 4th quarter profits. Not surprising but shows how wrong and backward Cowen is. Cowen said deliveries wouldn't make it and stock will be cut in half but instead Tesla exceeded deliveries target and stock jumped. Cowen and other shills say there is a demand problem but deliveries jumped 45% last year and 50% this year and Tesla was the best performing auto stock of the decade. When will people put these paid liars on ignore.
Here is the bigger trend. Petrol stocks in the S&P 500 have 1/5 the market cap they had not so long ago. Even having a president under duress from foreign and domestic petrol interests trying to kick the price on fossil fuels does nothing. It is no longer possible to hide what everybody knows. Petroleum is no longer needed for anything, and it was never necessary to use it for much! It is literally needed for nothing, there is always a cleaner alternative and if you need carbon you can pull it from the air. In the case of energy where petroleum is newly selected that requires a fraud and a fool because green is permanently radically cheaper and fossil fuels are permanently inherently more expensive (simple physics) and the kind of tech required to fix that would only make petrol more categorically obsolete. You literally have to be radically ripped off to use petrol for energy now and calling petrol an energy industry or energy company is like calling the cotton gin slavery based South a textile industry or calling it: the textile industry. Fossil fuel rent seeker pimps are in the position of having their customers suddenly become immune to their product. Not needed for energy, not needed for chemicals, not needed for materials, not needed for lubricants or coatings not needed for drugs or pesticides- just not needed anymore at all there are always cleaner and cheaper sources, increasingly in point of sale terms but always in total terms. The tipping point has been reached already. Peak oil is now in the past- they've been trying to hide it, trying to keep the denial going. If you look at stuff like diabetes- what is the source of the epidemic- easy petroleum fertilizers and pesticides. What about cancer, again easy unnecessary use of petroleum derived chemicals additives in food, body products, containers and leaching into ground water. This industry is headed for unlimited unmitigated liability. We won't be talking about climate change denial the will be no denying who pays the bill for the destruction and tax havens won't be havens and there won't be pension funds public treasuries to take hostage. It is no longer too big to fail its programmed to fail, is failing and must fail, but the future damage can be limited to the people who caused it.
There has been 11 trillion in petroleum divestment already but soon there will be no outside private or public money for petroleum exploration, extraction, processing, manufacturing, no finance, no insurance, no speculating aside from shorting it. Soon the protection money rent seeking contracts will be voided. There will be no subsidies, no continued loss socializing and no secret policy supporting petroleum, and no bailouts just confiscated profits to cover the endless externalities and damage 7 unnecessary decades of petroleum have created in the name of unnecessary rent seeking and deflation propping to protect the idle non-contributing parasitic rich.
Here is the bigger trend. Petrol stocks in the S&P 500 have 1/5 the market cap they had not so long ago. Even having a president under duress from foreign and domestic petrol interests trying to kick the price on fossil fuels does nothing. It is no longer possible to hide what everybody knows. Petroleum is no longer needed for anything, and it was never necessary to use it for much! It is literally needed for nothing, there is always a cleaner alternative and if you need carbon you can pull it from the air. In the case of energy where petroleum is newly selected that requires a fraud and a fool because green is permanently radically cheaper and fossil fuels are permanently inherently more expensive (simple physics) and the kind of tech required to fix that would only make petrol more categorically obsolete. You literally have to be radically ripped off to use petrol for energy now and calling petrol an energy industry or energy company is like calling the cotton gin slavery based South a textile industry or calling it: the textile industry. Fossil fuel rent seeker pimps are in the position of having their customers suddenly become immune to their product. Not needed for energy, not needed for chemicals, not needed for materials, not needed for lubricants or coatings not needed for drugs or pesticides- just not needed anymore at all there are always cleaner and cheaper sources, increasingly in point of sale terms but always in total terms. The tipping point has been reached already. Peak oil is now in the past- they've been trying to hide it, trying to keep the denial going. If you look at stuff like diabetes- what is the source of the epidemic- easy petroleum fertilizers and pesticides. What about cancer, again easy unnecessary use of petroleum derived chemicals additives in food, body products, containers and leaching into ground water. This industry is headed for unlimited unmitigated liability. We won't be talking about climate change denial the will be no denying who pays the bill for the destruction and tax havens won't be havens and there won't be pension funds public treasuries to take hostage. It is no longer too big to fail its programmed to fail, is failing and must fail, but the future damage can be limited to the people who caused it.
There has been 11 trillion in petroleum divestment already but soon there will be no outside private or public money for petroleum exploration, extraction, processing, manufacturing, no finance, no insurance, no speculating aside from shorting it. Soon the protection money rent seeking contracts will be voided. There will be no subsidies, no continued loss socializing and no secret policy supporting petroleum, and no bailouts just confiscated profits to cover the endless externalities and damage 7 unnecessary decades of petroleum have created in the name of unnecessary rent seeking and deflation propping to protect the idle non-contributing parasitic rich.
