We’re Not Sold
What to know: Demand for electric vehicles is plummeting, and that’s putting pressure on automakers.
The TPPF take: The Biden administration can’t order up consumer demand at will.
“As Fortune reports, ‘no one wants to buy used EVs,’ leaving EV used-car values in free fall,” says TPPF’s Mark Mills. “That’s a problem for auto companies because their finance arms have been left holding the bag on fictitious residual values for leased vehicles. According to one industry executive, the situation ‘has the potential to destroy billions’ of dollars in value for auto firms.”
For more on electric vehicles, click here.
Killing Jobs
What to know: Special interest groups are killing oil and gas jobs to save their own careers, Texas Railroad Commissioner Wayne Christian writes. It’s no longer about clean air and water.
The TPPF take: We need more oil and gas workers, not fewer.
“The average oil and gas job pays more than double the private-sector average, according to the U.S. Department of Energy,” says TPPF’s Erin Davis Valdez. “The oil and gas industry might not sound glamorous, but it’s a lucrative career path. Energy education is critical not just because of the noteworthy role of oil and gas in our economy — employing nearly 200,000 Texans in direct jobs alone — but because energy makes every part of our lives possible.”
For more on oil and gas, click here.
Inflation
What to know: The Federal Reserve says it could soon raise interest rates, but that doesn’t mean inflation has been defeated.
The TPPF take: Inflation is hurting American families.
“Under the Biden administration, the cost of gas, groceries, and rent has soared,” says TPPF’s James Quintero. “Mass layoffs have become increasingly common. And high rates of inflation continue to erode savings, disposable income, and purchasing power. In fact, the economic devastation has gotten to be so alarming that most don’t even have money set aside for a rainy day.”
For more on inflation, click here.