We all know carbon credits are a big scam where you help a couple Kenyan villages in bumfuck Africa make a more efficient stove (Translation: mud stove with small door instead of open fire with 3 rocks from the Neolithic era) which produces less carbon emissions.
In return your corporation has paid it’s indulgence to Black Rock for a higher ESG score. Nothing says noble cause like Larry “force behaviors” Fink putting you in his crosshairs in his extended last year before retirement that never comes. If you aren’t privy to why the root of ESG score is money the answer is the difference in management fees. The most recent example of this is the seemingly braindead move on California’s part to replace the devil they know (clean idle diesel semi-trucks) with the devil they kicked out of California (Tesla semi-truck). The year is 2009. You are a logistics company based near or around California. You buy a whole new fleet of clean idle diesel semi-trucks so you can be compliant for a 2010 deadline and keep yourself in business. California has announced by Jan 1st 2024 all new semi-trucks purchased must be zero emission and all trucks in the CARB system must be zero emission by 2035. When you compare truck vs train emissions seems like a reasonable deal on paper, but let’s put 5 seconds of thought into this.
These electric trucks (ignoring the negative effects of lithium/cobalt/etc. mining) are expected to have 11,000 pound batteries, which when you remember the semi-truck and trailer has a hard deck of 80,000 pounds 1/8 of the total capacity is being forfeited for the battery. These batteries will be pushed to their limits and put strains on already strained network of chargers of which there exist none for commercial vehicles in the 20 mile radius of California ports. The motor vehicle industry has been stepping in more and more to push the transformation gas companies don’t want to make.
Besides the richest man in the world, who benefits from the Electric Truck? California would have you believe marginalized communities, but there is a bigger play here.
Look at who owns all the energy stocks ($PCG, $XEL, $EIX, etc.). They want everyone on the grid and you’re going to pay for it alright. My advice? Fudding battery technology has not worked in stopping this madness, so just buy some energy companies with good entry points then hope and pray none of these overused semi-truck batteries decides to blow up and catch fire next to you.