The importance of codifying into law the guarantee of affordable, reliable energy for all Americans is driven home by the current turmoil surrounding Honda, which “reported its first annual loss since becoming a publicly traded company in Japan seven decades ago,” as reported by the New York Times back in May.
Why did a company considered one of the most stable in the world suddenly suffer such a catastrophic about-face? In large part because it relied on Biden administration policies designed to funnel industries into a future where fossil fuels would be completely phased out.
Honda decided to gamble its prospects on the Biden era fantasy, but when Donald Trump took office in January 2025, the new administration quickly changed course, canceling policies that were based on climate change hysteria and resetting the economic course of the U.S. and, by natural progression, much of the world.
As described in a follow-up Times story last month, just five years ago, Toshihiro Mibe, Honda’s chief executive, “pledged that by 2040, the Japanese automaker — long celebrated for its mastery of internal-combustion engines — would spend tens of billions of dollars to phase them out in favor of electric vehicles.”
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