Just when we think we might have a chance to relax from the almost daily discloses of Biden based corruption, along comes another busload. Will anyone be thrown under it – or will it be filled with Big Joe’s supporters heading for another payday?
For those – well the one or two – who regularly check in on my posts, don’t expect too many headlines about this situation any time soon. Like events written about in some of my other posts which preceded widespread coverage by months and years, this latest electrifying scandal will most likely begin to simmer during the 2022 campaign cycle. Here is the very short version of a money trail that gradually developed over several years. And but for the (strange and questionable) results of the 2020 election, a trail that very possibly would have come to a dead end.
In 2016 in Philadelphia, democrat party convention goers were shuttled about in a prototype all electric bus. The free rides aboard this futuristic urban solution for commuters was being promoted by a non-public California based company called Proterra. The Southeast Pennsylvania Transportation Authority (SEPTA) executives used the opportunity to publicize SEPTA’s intent to purchase 25 of the emission free buses and thereby have bragging rights of the largest such environmentally friendly fleet in the United States.
Three years and more than $24million later the 25 buses began service along two very carefully selected routes. Routes with fewer hills than most others and only requiring about 100 miles a day of the buses. But almost immediately these orchestrated success stories began to sound out of tune. The buses could only average between 30 and 50 miles on a full charge and neither route had enough room for a second charging station at a terminal location.
But short battery life was not the problem that forced the fleet out of service in less than a year. The heavy batteries, it seems, are blamed for the chassis cracking. While recent public statements from SEPTA would have us believe the manufacturer was working to resolve the problem, the facts are otherwise. There may be some relief on the horizon for Proterra to have the money to give to Philly to replace the broken fleet. Money that would flow from Washington to schools districts and transit authorities across the country. Money specifically earmarked to help those entities purchase all-electric buses; which at the moment are only available from a couple of manufacturers, a Chinese Communist owned company, BYD, and Proterra – based in California.
The Biden ‘infrastructure’ spending plan calls for $7.5Billion to be earmarked for replacing diesel school and transit buses with electric models. And that $7.5B is small change compared to the $500Billion for electric public transportation proposed by Senator Elizabeth Warren (D, Mass.) and Representative Andrew Levin (D, Mich.). Meanwhile, Jennifer Granholm, a former member of the SEPTA board of directors who approved the Proterra fleet purchase has been appointed as Biden’s Secretary of Energy.
In June of 2021, following the announcements of the massive spending programs, Proterra issued an Initial Public Offering. The stock has fallen more than 25% in the month since and with stories from Duluth, Minnesota of out-of-control buses rolling backward on hills and other cities reporting cracked chassis like those in Philadelphia, the money trail will no doubt lead from Washington to California and back.
Stay tuned … … …UPDATE:
In the three days since I began writing this report investors who may have hoped for Proterra stock to increase from the IPO have obviously done some background research. Too bad for their hopes of increasing stock value since other horrific incidents have surfaced. For example, one such story long since kept almost entirely out of the news, is the report from the liberal mecca in the valleys surrounding Los Angeles of one of the of 15 million dollar nightmares belonging to Foothills Transit caught fire while charging. Foothills Transit reports only three of their fleet of fifteen remain serviceable. Another – and one of my favorites – is the “thermal incident” in a Proterra plant in South Carolina where one of the buses simply exploded. And since these events have stayed out of the media for as long as six years, there are probably dozens more yet to be uncovered. It is not unreasonable to expect to learn that literally none of the all-electric money pits purchased over the past ten years or more are still in service at any level near their million dollar pitch price.
Meanwhile in Washington, the President has continued to tout Proterra and the electric buses as the future of mass transportation. So with the Biden organization solidly behind them, in December of 2020 both BYD ( the Chinese company with a subsidiary in California ) and Proterra announced plans to grow e-bus production globally.
As for the universal complaint from public transit authority customers that the manufacturer has failed to support the buses with parts or warranty service, Biden has announced plans of Federal government incentives to local communities earmarked specifically for e-buses. This plan will, of course, allow the companies to simply use federal money – laundered through communities nationwide – to attempt to provide support to those agencies already crying foul! So with projected orders bringing in operating capital, service or parts might then become available and the e-bus market might receive renewed support in the news. If so, the value of the Chinese manufacturer BYD would … … increase (maybe) the Biden/Chinese financial connections.
Some of the references in this report are from the web site of Macro Polo, a web based reporting service that specializes in “decoding China’s Economic Arrival.”