Joe Biden and former Michigan Democrat Gov and now Biden Energy Secretary Jennifer Granholm made huge news with their support of an electric vehicle company. But we now know that just ahead of its bankruptcy, Granholm sold almost two million dollars of her stock in the company.
In 2017 electric bus company Proterra got the endorsement of Granholm before she became Biden Sec. of Energy. She even joined the company’s board of directors.
But now we find that Granholm sold her stock in May of 2021 just after Joe Biden made a big show visit to the company.
Per Just The News:
Michael Chamberlain, director of Protect The Public’s Trust and described by pro-Biden critics as a “thorn in the side of the Biden Administration,” argued the sale of the holdings is an example of the Biden administration’s ethics issues.
“She served on the board of Proterra until she was confirmed as secretary and then she inexplicably held on to stock options, as you mentioned, for an extended period of time, even until really the media pressure became too great, apparently, for her to be able to continue before she finally did sell those,” he told Just the News on Wednesday. “And meanwhile, the Biden administration, President Joe Biden, Vice President Harris, they were promoting the company. I believe the CEO made visits to the White House. It really, at that time, it really did not look good from an ethical perspective.”
Now the company has gone belly up despite the subsidies and the high profile support of people like Granholm and Biden.
The GOP blasted the whole situation
“The ‘Bidenomics’ model: Biden promotes a ‘green’ company linked to his energy secretary, his energy secretary is exposed and cashes out, and then about two years later, the company files for bankruptcy,” the GOP tweeted. “That’s what happened with the electric bus company Proterra.”
The “Bidenomics” model: Biden promotes a “green” company linked to his energy secretary, his energy secretary is exposed and cashes out, and then about two years later, the company files for bankruptcy. That’s what happened with the electric bus company Proterra.
— GOP (@GOP) August 9, 2023
There is no such thing as “green energy” and electric vehicles are unreliable, overly expensive, and a fraud where it comes to being environmentally friendly.