Kentucky republican House member Thomas Massie had some interesting statistics in hand when questioning Transportation Secretary Pete Buttigieg about the administration goal to make electric vehicles 50% of all cars, vans and trucks sold by 2030.

Essentially, it is a cart and horse scenario.  An electric vehicle requires five times as much energy production as the standard home air conditioning cost.  The U.S. electricity grid cannot support an increase in household energy use that is equivalent of adding five times as many houses using air conditioning.  Math is math.  WATCH:

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Comrades, the likely federal government solution is simple.  Comrade citizens can have one electric car (mandated by regulatory compliance), or they can have their home air conditioned, but they cannot have both.  [Assuming social credit scores are high enough]

See how easy that is?

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CTH cannot overestimate what is more likely than not, as the Biden administration is now reportedly going to declare a national climate emergency in order to take their Green New Deal policy to the next level via executive fiat.  [The Hill Story Here]

Any possibility of the Biden administration creating an even deeper economic collapse under the auspices of climate change regulation, has essentially been stalled by congressional opposition to further Green New Deal (Build Back Better) spending and regulatory legislation.

Some, albeit not enough, congressional representatives, can see what lies at the end of this fundamental energy change, a significant collapse of the United States economy.  However, the committed ideologues behind Joe Biden are not going to let the legislative branch interfere in their climate change agenda.

What we are about to see is most reasonably predictable against the backdrop of how Biden’s administration exploited the “national COVID emergency,” that backstopped and justified their eventual use of OSHA to mandate vaccinations, and regulatory control over the private sector, under the guise of a pandemic emergency.  We predicted that administration approach in December of 2020, and that is exactly what they did {GO DEEP}.

When CTH shared that OSHA would be the institutional regulatory vector for forced vaccinations, many said we were conspiracy theorists.  Ten months later that is exactly what the people behind Joe Biden did (link). Now we can expect that same health emergency approach (massive regulations) to repeat with the declaration of a national climate emergency.

Pause and think about the ramifications to all domestic economic and business interests if the federal government starts using all agencies to regulate a new climate emergency policy.  Think about the regulations, the scale of potential regulations, from the dept of transportation, the dept of labor (including OSHA), the dept of the interior, the dept of energy, the dept of housing and urban development, the dept of education, the dept of health and human services, and many more.

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During the White House press briefing today, the administration sent Jared Bernstein to the podium to discuss a recent drop in gasoline prices.  Bernstein was claiming that Joe Biden had lowered gasoline prices when journalist James Rosen asked a question. {Direct Rumble Link}

James Rosen asked Bernstein why it was “Putin’s price hikes” when the gasoline prices are increasing, but not “Putin’s price plunge” when gasoline prices are decreasing.  Bernstein attempted to clarify his position and ended up looking silly.  WATCH:

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CBS pretentious pretender Margaret Brennan interviews Joe Biden’s Energy Security Coordinator Amos Hochstein about the trip to the Gulf Arab States and subsequent energy policy developments.  [CBS Transcript Here] Hochstein spins the non-existing benefits of the trip by attributing the pre-existing Saudi cease-fire in Yemen as an outcome of Biden talking to Crown Prince Mohammed bin Salman. Quite a stretch.

Hochstein still thinks there is going to be a way for ‘western governments‘ to place price caps on Russian oil exports by getting the entire planet to agree only to pay Russia a set price for oil.  With Russia an OPEC+ member, and the members of OPEC not in ideological alignment with the Biden administration on a host of geopolitical issues, good luck with that.  The producers (OPEC) have control over what prices the consumers (Non OPEC) pay; they are not going to give up that mechanism just to please the Biden administration.

On the domestic front, while there is little possibility of a global oil production increase from OPEC, Hochstein claims to have assurances from U.S. oil producers they will increase their production capacity by November.  At the same time the institutions in charge of Biden energy policy are going to keep targeting the oil producers to destroy them. Quite a weird dynamic.   Hochstein finishes by saying solar and windmills are the future of U.S. energy production and if we invest more, well, we can save the planet. WATCH:

It is worth remembering what MbS said about the meeting: “We agree on many things, but we differ on a few others. Every country has its own culture and circumstances. I respect yours, you respect mine. Do not impose your culture on us. Do not impose your beliefs on us.” … “We agree we need to do more for climate change, but you guys are doing it wrong by favoring certain energy sources over others. The world needs energy security. We need all energy sources including oil & gas. We are doing our part on both fronts: climate change & energy security.” … “The stage of a country’s economic & social development must be considered in climate change negotiations.” … “We are increasing our production capacity to 13 million barrels per day (from 12 mb/d), but that is it. We cannot do more.”

The message here is: You guys do your part and invest more if you want to avoid energy crises, recessions and unemployment. Do NOT blame us!

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During his press conference from Saudi Arabia, the installed occupant of the White House was asked about the possibility that congress will not pass the $500 billion spending proposal to continue the radical transformation of the American energy sector. [Transcript]

Q On the issue of climate, Joe Manchin obviously made significant news right now, which appears to be torpedoing what was one of your biggest priorities as it relates to energy and to climate back at home. Your message to those Americans right now who are looking for that relief that would have a wide impact as it affects the climate and energy specifically?

Joe Biden: “I am not going away. I’m going to use every power I have as President to continue to fulfill my pledge to move toward dealing with global warming.”  Thank you very much.” [link]

Put another way, “you will eventually eat the bugs.”

As previously noted, regardless of how much chaos, crisis and hardship they create, the collective western government leaders are not going to stop pushing their Build Back Better climate change agenda.  These are committed ideologues.  They are united in their objective and not a single politician is willing to see the catastrophic damage they are creating.

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Transportation Secretary Pete Buttigieg, a cabinet ideologue with zero experience in business or transportation, appears in the news admitted the high price of gasoline is part of the Biden energy agenda to push people into purchasing electric vehicles.  You’ll have a higher car payment, but you won’t pay for gasoline.  WATCH:

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After calling Crown Prince Mohammed bin Salman (aka MbS) a “pariah” for killing CIA operative Jamal Khashoggi, a Qatar-based Brotherhood member who was working under the CIA cover of a Washington Post press credential, Joe Biden now greets MbS in Saudi Arabia with a fist-bump.  WATCH: 

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British Prime Minister Boris Johnson resigned.  Days later, former Japanese Prime Minister Shinzo Abe was assassinated. A few days passed and both the President and Prime Minister of Sri Lanka, resigned and fled the country.  Today, with their ruling governments in a state of turmoil, Estonian Prime Minister Kaja Kallas and Italian Prime Minister Mario Draghi have both tendered their resignations.

The collapse of each of these national leaders is not necessarily connected; however, the global political system is reverberating with tremors directly connected to the post-pandemic economic turmoil.  It would be naïve not to see these governing issues as consequences.  The legitimacy of the governing class is slipping; perhaps it would be fair to say, some have ‘lost’ their legitimacy altogether.

Estonia is part of the EU and a member of NATO:

HELSINKI — Estonia’s president on Thursday asked Prime Minister Kaja Kallas to form a new government after she tendered the resignation of her one-party minority Cabinet, ending a more than month-long political stalemate in the Baltic nation.

President Alar Karis said in a tweet after meeting with Kallas that “I signed the resignation request of Prime Minister @kajakallas but also asked her to form a new government which could start working quickly and deal with all important issues of Estonian life.”

Estonia’s government crisis culminated in early June as Kallas, leader of the ruling center-right Reform Party, kicked out the left-leaning Center Party from the two-party coalition. The parties had substantial differences over spending and welfare policies amid increasing Estonian household costs because of high inflation. (more)

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CNBC is the Biden defense team for media broadcasts of anything related to the economy.  As a result, you know things are bad when CNBC broadcasts that Joe Biden’s economy has the highest level of dissatisfaction in the history of their surveys.

Steve Liesman was given the task again to share the horrible results. WATCH:

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The “Producer Price Index” (PPI) is essentially the tracking of wholesale prices at three stages: Origination (commodity), Intermediate (processing), and then Final (to wholesale). Today, the Bureau of Labor and Statistics (BLS) released June price data [Available Here] showing another 11.3% increase year-over-year in Final Demand products at the wholesale level.

Overall, the wholesale inflation rate is being driven by energy prices.  The June calculation shows exactly that problem with energy prices embedded in goods driving 10% of the price increase.  However, there is some good news in the short-term for July and August, as the intermediate and raw material costs are leveling off temporarily.  Unfortunately, that raw material price plateau is almost certainly the result of a drop in demand.

CTH has modified Table-A and Table-B to take out the noise.

The June inflation rate for final demand goods (2.4%) is driven mostly by higher energy prices (10%).  Energy costs are passed along through every stage of the supply chain contributing to an overall wholesale price increase of 2.4% in June, 11.3% year-over-year.

Notice the slight drop in final demand services; that is important.  What we are seeing is a contraction in the service economy overall, as the service sector -which includes restaurants- cannot pass along the scale of energy price increase to customers. People are changing their spending habits – service demand overall is dropping.

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