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Biden’s Energy Secretary Pushed Electric Cars While Making $1.6 Million on EV Stock

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U.S. Secretary of Energy Jennifer Granholm delivers the U.S. national statement at the 65th IAEA General Conference, Vienna, Austria, Sept. 20, 2021. (USUNVIE/Colin Peters)

Biden administration Energy Secretary Jennifer Granholm made $1.6 million on stock options of Proterra, an electric bus manufacturer, at the same time she was pushing for electric vehicle adoption in the United States. The Post Millennial’s Ari Hoffman reports:

Biden administration Energy Secretary Jennifer Granholm exercised $1.6 million in stock options with an electric vehicle technology firm as she and President Joe Biden continue to encourage Americans to buy electric cars in response to spiking gas prices.
According to the Daily Mail, Granholm sold her holdings in Proterra, based in Burlingame, CA, in 2021, but recently exercised $1.6 million in stock options from the company.

According to Forbes, Granholm is worth $8 million and recently served as director of the electric vehicle company, but divested following Republicans last year raising concerns about the involvement with the company.
A spokesperson for the Energy Department said that Granholm “…acted in full accordance with the comprehensive ethical standards set by the Biden Administration and has completed her divestment well ahead of the time required by her ethics agreement.”

In response to questions regarding soaring gas prices on Tuesday Granholm said, ‘If you filled up your EV [electric vehicle and you filled up your gas tank with gasoline, you would save $60 per fill-up by going electric rather than using gasoline but it’s a very compelling case, but again, we want to bring down the price at the point of purchase.

Last year, a video of the former Michigan Democratic governor laughing when a journalist asked her about a plan to curb high energy prices went viral.
Action Line: Americans are tired of people like Jennifer Granholm laughing at their plight. They’re getting angry and discontented. Risk is rising. Each month I analyze risk in my RAGE Gauge report. To receive a free monthly alert when my RAGE Gauge analysis is released, click here to sign up. 
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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com