The Biz Bucks Blog provides former Biz Bucks students and other busy professionals with a summary and commentary of seminal articles from the opinion pages of the Wall Street Journal. You can be notified of a new posting by subscribing to the blog (enter email in box on right) or by following on Twitter: @BizBucksGuy.

The Tesla Name is Sullied May 27, 2013 9:00 AM | Tagged as Cronyism, electric car, Tesla

WSJ May 24, 2013, page A12– The Other Government Motors (editorial)

Nicola Tesla, the Serbian born genius who invented the basics of alternating current and who was honored in 1960 (17 years after his death) by having his name used to measure magnetic field strength, is having his name sullied.

After Solyndra, Fisker, and a host of other green economy “bombs” dropped by the Obama administration, the truth is now coming out about the alleged Obama great success, the Tesla Motor Company.

The current administration, with help from the popular media, is promoting the Tesla Model S as the great and grand poobah of how we can make great electric cars and shareholder can make money. However, the data, as discussed in detail by this editorial, shows otherwise. To date, Tesla has sold less than 10,000 cars. Could the $70,000 price tag have something to do with that?

The truth is Tesla Motors has been propped up by a large assortment of federal and state tax subsidies. Essentially, shareholders owe their new found wealth to the middle class tax payers of the United States. These shareholders range from already wealthy venture capitalists to silicon-valley billionaires and even the Abu Dhabi Water and Electric Authority. This Arab electric utility just booked $113 million in profit after (wisely) selling its shares. The Biz Bucks Guy hopes this Arab government sends a thank you card to the middle class taxpayers of the US.

Does anyone wonder why the US taxpayers are funding a company that builds cars that only rich people can afford to buy, which ultimately lines the pockets of already wealthy shareholders around the world?  The media portrayed Tesla himself as the quintessential mad scientist until his contributions were better understood and his good name restored. Let’s hope the car carrying his name does not tarnish his posthumously earned good image.

[See a prior Biz Bucks Blog entitled Once Again, Green Has Gone Wrong (March 12, 2013).]

Posted By The Biz Bucks Guy
Posted in Energy Policy | 0 Replies

Subscribe to Our Blog

To receive email updates when a new post is made, please enter your email address in the box below and click Subscribe.


Use these key words to search past blogs:



1994 97% Alesina Recession Alinsky Allesina austerity Baloney BAT Binz bird kills Bogle Border Adjustment Tax Brulle Bryce capitalism carbon Carbon Dioxide CBO CFTC chains China Churchill Climate Climate Change Clinton Comparative Advantage Crichton Cronyism Cummins Curry Darwin Death panel demographics population economics Denier derivatives Dodd-Frank Drug dynamic Dynamic Scoring education electric car Energy Energy Policy Enron Debt Entitlements Eugenics Fat Fry Flat Earthers fracking free markets free trade Free Trade E-Verify Free Trade Zoellick Freedom Heritage Foundation Friedman gas lines Gas Prices glaciers Global Warming Global Warming Sustainability global warming subsidies IMF Globalization Trade God Google Gore Gramm Green Blob Grifo Groupthink Growth Hannity Hayek Hostess Hybrid Immigration Imports index funds Indexing Intellectual Denial investing investment IPCC JFK Joint Tax Kennedy Kerry Keynes Keynesian Keynesian Tax Cuts King Barak Bird Kills Koch Koonin Laffer Lamar Smith Lomborg macroeconomics macroeconomics;static; dynamic MACT Makiel markets Marxist medical care minimum wage Mitchell Model T Moore Morgenthau Navarro Neumark NOAA NY Times Obamacare ObamaCare Rove Health Insurance O'Reilly participation rate Patrick Moore peer review Peer Review EPA Piketty Pipelines plywood Presidential authority Price Controls Pruitt Racial divide Rare Earth Reagan Recession REE Renewable Portfolio Standards Renewables Ricardo Ridley robotics RPS Ryan Schlaff Science science integrity scoring Settled Science Shaffer shortages socialism socialized medicine Solar Panels Solvaldi Sovaldi static steel STEM Stephens Steyer stimulus subsidies subsidy sugar Supreme Creator tax policy tax reform Taylor territorial taxes corporate taxes Tesla Trade train wreck Trump unemployment wages Wind wind power women Zuckerman