What was a prolonged hibernation for “Risky Business,” after its brief burst of ballyhoo early last summer, has finally ended. The well-paid consultants and staffers for megarich global warming activist Tom Steyer (pictured in center) are back after his failed financial foray ($74 million) to elect Democrats to the Senate.
After the June 2014 release of its first report, Risky Business: The Economic Risks of Climate Change in the United States, they decided to carve that sucker up by geography. Last week they announced to the world that we first must alert folks in flyover country with the new report, Heat in the Heartland: Climate Change and Economic Risk in the Midwest. It’s clear from their Web site that future regional reports are to come. Steyer’s Risky Business partners Michael Bloomberg and Henry Paulson also threw their names on the Midwest report “findings.”
But despite that legislatively unanimous award from three months ago, and a stock price that has flown high for most of the year, there are signs that the shine over the luxury electric automaker is beginning to dull.
Perhaps the most noteworthy skepticism has arisen from popular automotive Web site Jalopnik, which otherwise has been a fairly reliable (but not robotically so) cheerleader for Tesla. An end-of-year article written by blogger Damon Lavrinc recounts the automaker’s legacy of non-fulfillment and asks, “What will Tesla and Elon Musk over-promise next?”
That doesn’t mean the fear-mongers have given up, of course, as the latest effort by environmental pressure group Ceres illustrates. The activist group – which exerts its influence via shareholder activism (claiming $10 trillion in assets) in pursuit of their definition of a “sustainable” global economy – last week sent a letter endorsed by 223 companies to President Obama, in support of EPA’s controversial proposed standard for existing power plants to limit carbon dioxide emissions. Some of the largest and most recognized corporations signed on, including Adidas, IKEA, Kellogg Company, Levi Strauss & Co., Mars Inc., Nestle, Nike, Starbucks, and Symantec – as well as numerous “green”-minded and renewable energy businesses.
The company’s Green Energy Czar Bill Weihl in 2009 had boasted to Reuters that he expected “within a few years” that his people would be able to demonstrate technology that produced renewable energy cheaper than coal.
As the nation awaits a decision from a grand jury Ferguson, Mo. about whether they will charge a police officer for shooting and killing black teenager Michael Brown, the new leader of the Congressional Black Caucus has already publicly stated that anything but indictment will not represent justice.
The comments (audio) came as Congressman G.K. Butterfield, a North Carolina Democrat, assumed the chairmanship of the CBC last week. He expressed his concern in an interview with WUNC in Chapel Hill, a NPR affiliate, when asked about the problem of civil unrest in “places like Ferguson” and what he thought his role was in “moving conversations forward” with regard to race relations.
According to the report, at minimum there is sharp debate over whether the company will continue to manufacture electric vehicle batteries in-house or contract with an outside supplier. Nissan partner Renault, which has 43.4 percent shareholder ownership in the joint company, is said to be pushing for outsourcing battery production – possibly to LG Chem. None who revealed the information were identified for the Reuters story.
A Republican that leftists turn to for a good “enviro-kumbaya” session came through with the rhetoric again this week. Most recently known for his partnership with statists Tom Steyer and Michael Bloomberg in the shame-the-capitalists effort called “Risky Business,” Paulson delivered a financial market parallelism on climate change that any Occupy Wall Streeter would be proud of.
There was little doubt that once CEO Elon Musk and Tesla announced they would locate their electric vehicle battery “Gigafactory” in Nevada, that Silver State lawmakers would vote in a special legislative session to support targeted tax breaks and incentives – even at the breathtaking amount of $1.3 billion.
Gov. Brian Sandoval, the courter, would have appeared an extreme fool if he didn’t already have the political backing needed for the deal. But there were other mini-surprises: Unanimity at the legislature; four separate bills passed to construct the package; and benefits enjoyed by other industries in Nevada that were rescinded to help with the Tesla payoff.
Today the company will announce its plans to build a battery manufacturing plant near Reno. The new gambit was the culmination of competition that pitted at least five states against one another for the “privilege” of hosting Tesla’s “Gigafactory” – named so because of the amount of stored power they plan to produce. Cost to build the plant is estimated to be $5 billion, and Musk said he expected the winning bidder to cover at least 10 percent of that, according to the Associated Press. That means at least $500 million in some form of incentives or conciliations from Silver State taxpayers.
Billionaire enviro-liberal Tom Steyer should thank his earth-healing, universalist, Less-Than-Supreme Being that the planet’s survival isn’t dependent on his business influence or political expenditures, because they have been massive flops.
Take, for example, “Risky Business,” his venture (along with figureheads Henry Paulson and Michael Bloomberg) introduced in late June to pressure businesses, investors and policymakers to account for vast planning costs for impending global warming effects in their financial reports. Initial media coverage of the contrived project made it appear that it would exert major influence in the corporate world. But while the scheme attempted to show intellectual rigor and nonpartisan analysis, Risky Business was easily revealed to be nothing more than another deeply biased construction to drive a political agenda.