Clean Energy. I read from a piece in the Wall Street Journal by Eric Beinhocker and Jay Dorn Farmer recently.

The Clean Energy Revolution is being driven by fundamental technological and economic forces that are too strong to stop.

I will stop there and turn to my colleague, Cliff May, the founder and president

of the Foundation for the Defense of Democracies, who's observing this recent opinion, which was

widespread in early 2025. And now, Cliff, a very good evening to you, the markets, the markets, always the markets.

We're told by car producers in Europe, I'm thinking of Porsche right now, that the reason they're

revising their expectations for profit this year is a combination one the energy prices because of the war in

Ukraine and two a disappointment in green sales that is evy sales of porches they are not matching their

expectations and they had a whole line of new vehicles to come out with.

They now find themselves, if I remember correctly, without adequate fossil fuel vehicles for their lineup going forward.

How did this happen, Cliff? Where did it go? How did Porsche get it wrong part of the Volkswagen group good evening to you

good evening to you well we have seen in the media we have we saw certainly saw during the

Biden administration uh the assertion insistently that we are in the midst of a revolutionary

historic clean and green energy transition. And I start my column in the Washington

Times reminding people of when candidate Joe Biden took the hand of a young activist and said to her,

kiddo, look at me in the eye, I guarantee you.

I guarantee you.

We're going to put an end to fossil fuels.

Well, we haven't put an end to fossil fuels at all.

And there is no revolution taking place.

I was reading a monograph just put out by FD by Brenda Schaefer, who is an advisor to us on energy.

It's called Blackout, and she makes the case, well, among other things, among the facts she marshals,

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