Biden’s war on fossil fuels kills more jobs! The Jeep Cherokee plant, now owned by the European group called Stellantis in Belvidere, Illinois, will close in February. 1,350 hard-working Americans will lose their jobs as part of the automaker’s plan to finance its government-mandated and subsidized electric vehicle (EV) expansion.
How aggravating and sad for the good folks of Belvidere. Such news doesn’t make for a very merry Christmas. Stellantis says the closure is happening because of “the increasing cost related to the electrification of the automotive market.”
Since Europe and several U.S. states have announced plans to ban the sale of new internal combustion engine vehicles by 2035, the conglomerate plans to spend $35 Billion to invest in EVs over the next few years. Biden’s so-called Inflation Reduction Act provides billions of generous tax credits and subsidies for battery and EV purchases.
While the liberal elites pontificate their climate religion from on high, taxpayers must foot the bill for the EV industry, because manufacturers like Tesla cannot make a profit without government handouts. As a Tulsa business owner, I’m all for innovation and new technologies to improve our world, but when we allow socialist–minded politicians to decide where financial capital should go, there are often many more losers than winners.
Just think about it. We the taxpayers are paying a European company to eliminate the production of a product American consumers love and to fire hundreds of American workers. Joe Biden is now the Grinch who stole Christmas from the good folks of Belvidere.