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Good Morning. In a long phone interview with Fortiens Vivienne Walt last week, the richest man in the world (sorry, JB) raved about the new American president. "I am very pleased that the new administration is focusing on the climate," he said.
Musk fan guys can tell you that his political views have long leaned to the right on many issues. He fought union formation in his factories and donated far more to Republicans than Democrats in 2018.
But his turnaround at Biden should come as no surprise. The Biden team is considering a variety of measures to promote electric cars and tackle climate change – which can only mean more money in Musk's pocket. It recognizes a new reality in the climate debate a decade or two ago. In the past, companies were routinely opposed to climate debates because they feared the taxes and regulations that would result. However, one person's tax is another person's subsidy. And today, some of the biggest companies – including Tesla (# 7 in market cap in the S&P 500) – are on the receiving end.
More news below. And here's your fact for the day: for the first time in 37 years, Budweiser won't advertise in the Super Bowl. I think the Clydesdales are in quarantine.