Here fed ex sign this you know and youre seeing this horrible interaction you feel like i dont want to use fed ex id rather pay twice as much to just use u. P. S. Because why would i want something an interaction like that why would i want an experience like that and people these corporations that dont understand how horrible it is to have to deal with their frontline staff if its not trained if its not well if you go into some of these big d. I. Y. Shops for example and you ask one of their Customer Service reps for information about some plumbing supplies and they have no idea what the anything about what theyre supposed to be an expert on you know these sort of things that i think factors listed and u. B. S. Is not really not so see this is the fact that German Companies are so good as they dont list shareholder shareholders demand you destroy their company thats the way things are now they demand that you hollow it out and and destroy all value because they want it now they dont want something in fifty years time they want it now so that would make sense i guess i cant believe its not listed so. Musks company is of course listed tesla must needs to make a bold call on tesla as model three before it is too late production hell as elon musk calls it has reached a new level of blazing discomfort at tesla last. The Company Reported that had fallen well short of his delivery goals for the model three the thirty five thousand dollar car that is supposed to transform tesla from a nice player to the dominant force in the new age of electrified automobiles so they did manage to deliver one hundred thousand cars in twenty seventeen which is a new high for them but were going to go into hap comparing them to the other big Auto Companies well its an interesting kind of model he has there because hes using the presales on the on the the model three and these cars to kind of keep the company afloat in terms of cash because they burn a lot of cash so hes making a bet that eventually these two things work out and he starts to have some organic growth and which is not a bad bet to make i mean i work for jeff bezos even with that lost money for many many years building their brand building their franchise and then it started to work for him he should just do and i see oh this is like tesla coil in one day you might get a point you know people throw billions of dollars at i. C. A. O. Is for products that are even more vague at least he has like actual real example of what a tesla model three will look like and he had to livered some beyond what he said you know he was meant to but ill show you that chart of comparing tesla to other auto manufacturers and that is the market cap versus auto sales so g. M. Is the largest market cap on this with fifty point eight billion then ford at forty three billion chrysler fifteen point seven billion tesla forty nine billion but you can actually see the amount of sales g. M. Has to sell three million cars for that fifty billion test was only delivering seventy six thousand for their market cap which is equals to g. M. So a payout for a growth story in this potentially huge growth story so you multiples are expanding you know people get down on tesla because they take the government subsidy money but somehow they dont get down on the other big three Car Companies even though theyve been bailed out. By government money so whether its a government bailout or a government subsidy thats still government money i dont know why tesla gets all the bad press but actually like you said they buy a growth story that the growth isnt all that much but it is a mystery their story is a mystery like that whole space x. Launch that lost that maybe lost the mystery satellite some sort of mystery payload from the u. S. Government and tesla says its their mission was accomplished so thats all a mystery what happened with space x. Last week but in terms of like comparing this initial coin offerings in the crypto space study found that the less information you actually gave if you had no product no example of what your product was for your initial claim offering you actually got more like the investors value you hire as soon as you had any product or example of your Technology Investors to want anything to do with it because it was too real world it wasnt as is huge is their imagination but its true in all stock markets you know Biotechnology Companies that have absolutely no technology but they just a white paper or some academic study suggesting that there could be something biotechnological wonderful if they got a bunch of money raise billions of Dollars Companies that have a very simple numb nuts business metal benders who simply manufacture you know parts car parts they have a very low valuation because its very predictable and very well known but their cash. Cows if you will this is the type of stuff that Warren Buffett tends to buy are predictable cash cows and thats his style of doing business and then you have the moon shot look tesla is a moonshot disrupting the Auto Industry he might do it and therefore he would be worth more than all three combined or he might fail in which case would it work zero like it go the way of enron but thats what capitalism is all about so speaking of cash cows comparing him so remember he basically tesla and. G. M. Have equivalent market capitalizations. But g. M. Sells many many multiple times more cars so they compare it to more of the Balance Sheet and the data between these two companies the model three is turning into a slow motion catastrophe thats going to push teslas capital structure beyond the breaking point the math a simple tesla is spending as much as General Motors every quarter about one billion dollars to produce and sell a fraction of the vehicles that g. M. Does g. M. Is also turning that invested capital into steady profits while tesla in the Third Quarter of twenty seventeen posted the biggest loss in its history g m has a twenty five billion dollar war chest chest only has enough cash to operate through twenty eighteen i. B. M. And dell where the g. M. And ford of the day people are comparing look at your sales compared to their sales and were doing horribly and he stayed loyal to his vision of whatever their vision was and eventually it might have taken twenty years but the same with tesla and twenty years it might eventually it might take twenty years for them to realize the same sort of apple like you know i never see a Dell Computer anymore back in the early ninetys and michael dell told Apple Computer to shut their doors and shut em to shut down the way ive been at it they they are irrelevant they had failed they were never going to make it. And now course dell is an also ran so thats what happens when a visionary matches the times in which he lives with a product that people want and you have an explosion in market capitalization like Apple Computer tesla could could be a big wonder could you not let me also compare one more thing and then i have a statement to make about this an assessment and analysis to make about this so to make matters worse tesla striving and failing to be. A Pretty Simple vehicle the model three is basically an electric condo cord and honda without noticeable effort builds and sells over one hundred thousand of those every single year in the u. S. Alone to me it kind of seems like the sort of tension and stress and angst in the press toward steve jobs back in the eightys at apple that he was doing you know ron hes like look at i. B. M. Look at dell theyre taking off with this whole market you dont know what youre doing what is this vision you have you just dont know what youre doing this is that you know and he was kicked off the board of our poll he was you know the same sort of attention i well what hes doing with this Company Apple and of course you know we all know the success that apple has become one of steve jobs as a model in Silicon Valley that you know is going to fit into steve jobs shoes by coming up with Innovative Products you know the electronic gadgets market is a little bit different in the car business because the car businesses you know you kind of bound by the highway system and youre bound by the whole infrastructure that is the Automotive Industry in the lobbying of the Automotive Industry so its a bit difficult to be disruptive in that industry in a way hes going to open up his charging stations with one nine hundred fifty style burger and shake joints with servers on roller skates ok thats thats an idea that might take off that might be a new like starbucks like the third place that people go to to have an experience that might work i mean as an innovator and he actually does think hes revolutionizing the model he says he sees himself as henry ford like character henry ford revolutionized the Production Model of automobiles and this is what according to this article also sees that this is a third step in the production of vehicles musk his dream is to massively automate the model three assembly and take advantage of the simpler engineering requirements of electric vehicles its a noble dream. Tesla should continue to pursue it but at this point mosque is asking all those model three reservation holders to patiently await teslas ability to reinvent manufacturing theyve become unwitting participants in a science project again going back to one nine hundred eighty s. Steve jobs it did take him a while to realize what he was trying to execute in his mind hes not a technologist he wasnt a code writer he couldnt do all this stuff fast enough once he met johnny i for whatever they they seem to have some sort of like. You know explosion in their ideas that finally came to fruition but at that time nobody was very patient with steve jobs back in the eightys and you remember im sure well first thing. Unwittingly youll stay to for the second half of this program right after this break. The new Global Economic war is unfolding in the realm of education the right to education being supplanted by the right to access education. Higher education is becoming just another product that can be fortune sold but its not just about education anymore its also about running a business where you could. Look at the songs. We could we. Want to use the place of students in this Business Model for college i was born now and i am extremely more education for the new Global Economic war. But i dont want more value on the idea that dropping bombs brings me to the chickenhawk forcing you to fight the battle. To stop trying to tell you that the gossip the public life. Awesome advertising telling you on the whole and on and lets go buy their products the odd. Things are the hawks i mean a lot of the audience loves walking among. The. People. Welcome back to the kaiser report imax keyser time now to turn to time since local me runs the Public Citizens Energy Program and serves on the c f two Series Energy committee tyson welcome back always great to be here max now the New York Times is quoting you they say about Power Companies got a tax cut but will the the bill reflected youre quoted in this tell us more about these tax cuts and will our energy bills be impacted so you know congress and the president put into law this awful tax bill that was rushed and you know behind cover it are going to go to qualify this awful in what way its massively expensive and it goes to huge multinational corporations that arent necessarily going to be creating jobs or creating value for the u. S. Economy but creating massive benefits for their preferred shareholders think this through how to get this through this new fight this idiot this guy who nobody thought to do anything somehow managed to get this massive tax cut through oh i think they did it despite trump and his repeated tweeting on the subject the Congressional Republicans found a new tactic to devise sweeping complex legislation behind closed doors unveil it with as a little public scrutiny as possible so that opponents to the sweeping legislation have little time to mobilize to fight bad legislation so we saw that on other issues that failed with this Corporate Tax bill there were so many powerful corporations with their hands out in line to get benefits pushing hard on Congressional Republicans and other checks and balances system of our federal government has found it is failing right now i think that trump is ushering a new era of its an institute. Failure or a temporary fare failure in other words is the character of the way legislation is made and passed in washington now been coopted entirely by a corporate agenda its taken a few decades to get there through the socalled neoliberal washington consensus type agenda or is this are you suggesting that this is more of a temporary situation what are your thoughts oh i think our political system is prone to such takeover and abuse its a question of leadership in the past weve had enough leadership on a bipartisan basis that that there were enough people to stop these kinds of things on a consistent basis what were seeing now is a complete absence of leadership im not an overly partisan person but what im seeing out of the Republican Leadership right now is no concern whatsoever for the welfare of their actual consist constituents who have brought on welfare into bar lago and said hey everybody just got a lot richer ok he wanted this and it got through hes demonstrating leadership thats what a leader does he got his agenda through so what he said is a lack of leadership if youre referring to the democrats well i think the democrats did what they could but they just dont have the numbers right now but i dont think leadership is succeeding on pushing bad policies into law i think leadership is recognizing that youve got to look out for the least among us in our society and theres nothing in the stars a meritocracy going on here in america and you know people are in a position of power and then they try to get things through oh by. The process of legislation the law making and the press of course right now what about the fact that the press that would be really in a position to push back against what youre describing as a horrible piece of legislation this tax cuts their obsession with things like the fake russia gate hoax like i made Rachel Maddow he turns around every night and she oh still its up. Just what this what this hoax this russia gate hoax should she be more concerned about pushing back against this what you described as a catastrophic tax bill well i thought were tarmoh journalists im not quite sure that rachel who it was a journey out well kate who ok fair enough but who who is operating where were wheres the press you know jefferson called the press to the Fourth Estate i paraphrase our you know he said something to that effect but we dont know that thats a vital part of our nation freedom of the press freedom of speech whos representing those interests i think the traditional print media in a lot of the new online media actually have been doing a great job of reporting on the catastrophic details of the tax bill how unprecedented. The push to quickly move this legislation without a single hearing i think the medias doing their job and i think thats reflected in poll after poll that shows that even though a lot of americans are temporarily going to get some money back in their taxes they still dont like the tax bill because it showers the wealthy few multinational corporations with too much of the benefits so in your wheel house or the Energy Sector right so we are starting up i talk about how this impacts the Energy Business specifically and i read the New York Times piece there saying on a state by state basis its unknown because its a very a lot of variation in the various states but walk us through like what what does this mean actually to the Energy Industry that there are some Energy Companies that are treated as sort of inherently monopolistic and so the tradeoff for having a monopoly and therefore being exposed to little risk is that you have to have your profits regulated and so part of your profits are obviously an analysis of your costs and one of those costs are income taxes that you pay so if there is a dramatic change in your Corporate Income Tax Liability then that should be reflected in lower rates and therefore lower energy bills. For consumers but thats up to regulators to make that determination and my quote the New York Times or something to the effect of there are some states that do a very good job of holding these regulated utilities feet to the fire to make sure that consumers are getting the benefits they deserve and there are states that do a terrible job theres also a federal here theres an agency called the federal Energy Regulatory commission that regulates transmission lines natural gas and Oil Pipelines and so were going to see a similar set of proceedings at the federal level to ensure that the benefits that these Energy Utilities are going to be receiving from trumps Corporate Tax cut that some of that is going to be forced to be shared with consumers right now lets get into some nitty gritty stuff here that youre in the day to day business your hair in washington your you know workin on behalf of centrally you know in the sector of energy and i guess pushing back against abusive Energy Monopoly power i guess is what you could try and try to do all right so you also gave testimony to congress recently in your testimony you noted that the u. S. Energy Information Administration reported that twenty sixteen experience the largest net increase in generation capacity since two thousand and eleven why is this significant well its significant in the types of new generation capacity thats coming online were seeing record amounts of coal and Nuclear Retirements but what were seeing and thats what this is what the statistics were talking about is that were seeing even more new generation mostly natural gas and renewables and when you combine that with the important fact that the United States Energy Demand is essentially flat lining and actually shrinking as a share of our Gross Domestic Product that is huge for consumers and for Energy Markets but what that means is that the financial fortunes of the coal and Nuclear Industry are fading and theyre fading pretty fast and so thats what this whole rattle of theyre generating more inner. Right well thats net but when you look at the different types of generation resources coal and nuclear are being fast clip eclipsed by lower cost and easier to deploy resources like natural gas and renewal ok transitioning to Natural Gas Renewables as out as industries are the Legacy Industries are not making as much money as they were thats right they said theyre not happy about it so theyre going to the Trump Administration and last september the. Energy secretary rick perry unveiled this crazy plan that basically said you know what renewables are so cheap that theyre causing the premature retirement of all of these coal and nuclear base Load Generation and those retirements are going to result in reliability issues down the road and thats a National Security concern so for National Security reasons we have to rewrite Americas Energy market rules to force consumers to pay extra for these an economic coal and Nuclear Units and so this week the federal Energy Regulatory commission which is the agency in charge of implementing this request by the Trump Department of energy ruled five to nothing tossing out this rick perry request saying that it didnt have merit and that there was not a factual basis to rewrite rules because hes coming across like. A protection racket right right so so throw it out right so thats not bad no its a good thing except now it punts to whats known as the private entities that operate and run americas electric grid Many Americans dont know this but we essentially have privatized grids and not only to those grids manage the physical movement of electrons across the country but they also set up internal rules where policy decisions and rule. Rights are deliberated and so ive called it the privatisation of electricity policymaking and so at the same time that for five to nothing ruled that this rick perry request was crazy and tossed it out they then said well private regional transmission operators what do you guys think about this issue and so were going to see over the next two months some proposals by the grid operators that might do the same thing that that perry was proposing except dress it up in these ridiculous economic sounding jargon so consider is still a big risk to consumers but you know we won the first round but the battle continues so those are the great is made up and it puts a stance of play for surging surging Energy Demand it can offload it from different areas of the grid and especially in managing this way like any network that youre trying to manage through our peak efficiency so what is it made up of exactly this this if its a private its five a corporations and one of these companies what are they make who are they make up the grid how many oh so the biggest one is called p j m which it started in the one nine hundred twenty s. As like a voluntary Reliability Group stands for pennsylvania jersey maryland but today it stretches from illinois to the mid Atlantic Coast of the United States including washington theyve got all of the grid right and they go right to get all of the pricing on the grid so its a its a private Membership Base corporation but they are officially sort of acting like an umpire the problem is that they are highly susceptible to influence by some of their powerful members and in this case the powerful members are some of the big owners of generation the largest generation owner in p j m for example is a chicago based corporation called exelon and exelon own a huge fleet of aging an economic Nuclear Reactor they do during hurricane. Well in new england one big Nuclear Reactor was forced to go offline historically Nuclear Power plants arent super reliable during big stress events involving extreme weather we saw during the recent hurricanes a number of the Nuclear Power plants had to go offline as a precaution because as we saw with fukushima in japan you have to have an on site power system to run all the cooling systems to keep that Nuclear Reactions stable if you lose access to the grid its very risky to run only on that separate on site power so as a precaution during big weather events Nuclear Power plants often go offline ok thats good energetic conversation want to continue they can stay i can only get ahead if this is this other guys are part of a mask as i stated i would like to thank our guest the one and only tyson slocum from the Public Citizens Energy Program going to catch us on twitter as kaiser reports of. 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