Posts belonging to Category Climate change



Saudi Arabia invests $1 billion in electric carmaker Lucid Motors

A serious rival to Tesla

Saudi Arabia’s Public Investment Fund (PIF) has agreed to invest more than $1 billion in Lucid Motors, adding to the emerging competition facing U.S. electric vehicle maker Tesla Inc. The funding will enable Silicon Valley-based Lucid to achieve the commercial launch of its Lucid Air electric vehicle in 2020, PIF said in an announcement on Monday. Lucid joins Daimler-owned  Mercedes, BMW and Volkswagen’s  Audi and Porsche divisions in the battle for dominance in the market for premium battery cars.

In August, Tesla founder Elon Musk said the Saudi sovereign wealth fund could help him to take his company private. The Lucid investment, which PIF said is more than $1 billion but did not give an exact figure, is also part of Saudi Arabia’s plan to build an environmentally friendly economy, to diversify the kingdom away from reliance on crude oil.

Flurry of electrifying announcements from the auto industry

Mercedes challenges Tesla with an all-electric SUV

Mercedes-Benz unveiled its first fully electric SUV today in Stockholm, the first in a long line of electric vehicles the automotive juggernaut will roll out over the coming years as part of its new EQ sub-brand. The EQC will run to 60 mph in under five seconds, go 200 miles between charges, and when it enters production in 2020, it will find itself in a world of increasingly fierce competition.

The EQC unveil comes amid a flurry of electrifying announcements from the auto industry. Later this month, Audi will debut its own electric SUV, the e-Tron. BMW just began taking orders for its upcoming iX3 electric SUV. Tesla is showing the production version of its gobsmacking, revived Roadster at the Grand Basel motor show in Switzerland this week. Jaguar is gearing up to start US deliveries of its much-lauded electric i-Pace later this year.

http://www.wired.com

Trump Is Fracturing OPEC

Trump tweets

Trump’s tweet over the weekend that Saudi Arabia agreed to add 2 million barrels per day (mb/d) of supply confused the oil markets, pushing prices down a bit on Monday. Most analysts dismissed the statement, concluding that Trump was confused when the Saudis told him they have 2 mb/d of spare capacity, and not that they had planned to bring that capacity online.

A few days on from that episode, however, it actually doesn’t look that black and white.

Indeed, Trump’s tweet suggests that he very much believes that 2 mb/d of Saudi supply is coming online, and despite the attempt by the Saudis to clarify, by stating that they have surplus capacity waiting to be used in the event of a pinch, the statement was interpreted in different ways by the oil market.

https://www.oilprice.com/

Trump angers US solar installers with panel tariff

Job creator, or job killer?

U.S. President Donald Trump signed into law a steep tariff on imported solar panels on Tuesday, a move billed as a way to protect American jobs but which the solar industry said would lead to thousands of layoffs and raise consumer prices.

The 30 percent tariff on solar panels is among the first unilateral trade restrictions imposed by the administration as part of a broader protectionist agenda to help U.S. manufacturers, but which has alarmed Asian trading partners that produce lower cost goods. The administration also introduced a tariff on imported washing machines. “You’re going to have people getting jobs again and we’re going to make our own product again. It’s been a long time,” Trump said as he signed the order.

But the solar industry countered that the move will raise the cost of installing panels, quash billions of dollars of investment, and kill tens of thousands of jobs, raising questions about whether Trump’s move will backfire by triggering mass layoffs.

http://www.reuters.com…  January 24, 2018

United States, planet’s leading crude oil producer in 2018

The United States is poised to ramp up crude oil production by 10% in 2018

The United States will produce about 11 million barrels per day, according to research firm Rystad Energy. Surging shale oil output should allow the United States to dethrone Russia and Saudi Arabia as the planet’s leading crude oil producer, Rystad predicted in a recent report. The U.S. hasn’t been the global leader, nor ahead of both Russia and Saudi Arabia, since 1975.

“The market has completely changed due to the U.S. shale machine,” said Nadia Martin Wiggen, Rystad’s vice president of markets.

The prediction shows how the fracking revolution has turned America into an energy powerhouse — a transformation that President Trump has vowed to accelerate by cutting regulation. This long-term shift has allowed the U.S. to be less reliant on foreign oil, including from the turbulent Middle East.

http://money.cnn.com/… Thu., 04  January 2018

Volkswagen invests $11.8 billion to build China electric cars

15 all-electric and plug-in hybrid vehicles over the next 2 years

Volkswagen Group said on Thursday it plans to spend 10 billion euros ($11.8 billion) by 2025 to develop and manufacture all-electric and plug-in hybrid vehicles as it seeks to comply with upcoming stringent rules in China.

The group, which includes Volkswagen AG (VOWG_p.DE) and Audi AG (NSUG.DE), intends to launch 15 of the so-called new energy vehicles (NEV) models over the next two to three years, and an additional 25 after 2025, China chief Jochem Heizmann told Reuters on Thursday. China’s NEV production and sales quotas, which must be met by 2019, have prompted a flurry of electric car deals and new launches as automakers in China race to ensure they do not fall short. Automakers that do fall short will be required to buy credits.

Tesla wants to produce cars in China

Tesla reaffirms effort to build cars in China; mum on deal report

Electric car maker Tesla Inc (TSLA.O) reaffirmed on Sunday it is talking with the Shanghai municipal government to set up a factory in the region and expects to agree on a plan by the end of the year, but declined to comment on a report that a deal has been reached.

http://www.reuters.com…  Mon  23  October 2017

A ban of gasoline-powered cars imposed in 2030 says California’s governor

“Let’s ban gasoline-powered cars”

It’s often said that national climate policy is Made in California and now Governor Jerry Brown reportedly wants to ban the internal combustion engine from its roads.

“I’ve gotten messages from the governor asking, ‘Why haven’t we done something already?’” Mary Nichols, chair of the powerful California Air Resources Board, told Bloomberg. “The governor has certainly indicated an interest in why China can do this and not California.”

China is planning to set a deadline by which its automakers must end production of fossil fuel–powered cars. If California did something similar, it would trigger a cascade of changes in the automotive world. Californians buy about 2 million cars a year, accounting for around 20 percent of national sales. Because people in the state buy a big percentage of the country’s cars, the industry designs all American vehicles to meet California standards.

A ban could come as soon as 2030, Nichols said.

http://www.grist.orgFri.,  29  September 2017

China mulls going 100% electric

China wants to ban petrol and diesel cars

The Chinese government has signalled it will join the line of nations queuing up to ban the sale of diesel and petrol vehicles in the coming decades.

A senior official has told the Chinese car sector that the industry department in Beijing has begun “research on formulating a timetable to stop production and sales of traditional energy ­vehicles”, according to a report from the state news agency Xinhua.

http://www.telegraph.co.uk…  Mon.,  11  September 2017

Insurance and Hurricanes

Irma test Florida’s flood insurance 

Hurricane Irma could test a nascent private flood insurance market in Florida that some advocates say is a model for making U.S. flood coverage more affordable and commonplace in high-risk areas. Florida’s private flood insurance market represents a tiny sliver of all flood policies in the state, but if a hurricane does hit Florida later this week, policyholders, industry and the federal government will see how private insurance performs in one of the country’s largest flood-prone markets.

“It’s a new breed of insurance in Florida,” said Loretta Worters, a spokeswoman for the Insurance Information Institute, an industry-funded communications group. “You have these companies that have never been tested for flood. We’ll have to see how it works.” Even before Hurricane Harvey triggered massive flooding in Texas last week, U.S. lawmakers were looking at alternatives to the indebted government-backed model of flood insurance.

http://www.reuters.com…  Wed.,  06  September 2017

Tesla: 1,800 Model 3 reservations a day

The waiting list for Tesla’s new Model 3 is growing fast

Tesla (TSLA) said Wednesday it is now averaging more than 1,800 net reservations each day for its cheaper electric car, following an event last week to hand over keys to the first 30 Model 3 vehicles. Tesla did not provide an updated figure for its total waiting list. At the event last week, Tesla CEO Elon Musk said the reservation number was over 500,000. On a conference call with analysts Wednesday, he clarified the number was actually 455,000, including cancellations.

The strong demand is a mixed blessing for Tesla as it grapples with scaling up production to make good on deliveries for its first mass market car. Tesla said it remains “on track” to hit its production goals. Tesla expects to produce 1,500 Model 3 vehicles in the upcoming third quarter, 5,000 vehicles produced per week by the end of this year and 10,000 per week by the end of 2018.

http://cnn.com…   Thu.,  03  August 2017

America's pledge on climate change

California Governor Jerry Brown and Michael Bloomberg Launch “America’s Pledge”

 Today, California Governor Jerry Brown and Michael Bloomberg launched America’s Pledge on climate change, a new initiative to compile and quantify the actions of states, cities and businesses in the United States to drive down their greenhouse gas emissions consistent with the goals of the Paris Agreement.

Since the White House announcement of its intention to withdraw from the Paris Agreement, an unprecedented number of U.S. states, cities, businesses, and colleges and universities have reaffirmed their support for the Paris Agreement through collaborations including the “We Are Still In” declaration, the Climate Mayors coalition of cities, the U.S. Climate Alliance group of states, and others.

Building on this positive momentum, the America’s Pledge initiative will for the first time aggregate the commitments of these and other “non-Party actors” in a report on the full range of climate-related activities across the whole of U.S. society. The process of developing America’s Pledge will also provide a roadmap for increased climate ambition from U.S. states, cities, businesses and others, and will transparently demonstrate to the international community how and in which ways these entities can help the U.S. deliver on its pledge under the Paris Agreement.

http://www.bloomberg.com…   Thu.,  13  July 2017

The bright future of the electric car

All Volvo cars to be electric or hybrid from 2019

All new cars launched by Volvo from 2019 onwards will be partially or completely battery-powered, in what the company called a “historic end” to building models that only have an internal combustion engine. Between 2019 and 2021, the firm will introduce five 100% electric models, and ensure the rest of its conventional petrol and diesel range has a hybrid engine of some form. It is the first major manufacturer to make such a bold move.

Håkan Samuelsson, the Volvo chief executive, said: “This announcement marks the end of the solely combustion engine-powered car.”

http://www.theguardian.com…   Thu.,  06  July 2017

Making the Planet great again

Global climate change problems can have local solutions

When President Donald Trump withdrew the United States from the Paris agreement, the landmark climate accord signed by 196 nations that came into force in November 2016, the decision caused a significant negative backlash among other signatory countries.

Given that the US is one of the world’s largest greenhouse gas emitters, its June 1 reneging on the deal delivered a blow to the global agreement. But, as many commentators were quick to point out, as long as other leaders didn’t follow Trump’s lead, it was largely a symbolic one.

So far, the international response has confirmed this: a chain reaction of support for climate change mitigation, from grassroots up to the highest ranks of government.

http://www.theconversation.com…   Fri.,  30  June 2017

AIRBUS versus BOEING

Boeing launches new jet

Boeing unveiled a new version of its best-selling 737 aircraft on Monday, injecting life into a faltering civil aviation market as French President Emmanuel Macron flew in to open the world’s biggest airshow in Paris.
After years of booming orders driven by increased air travel and more fuel-efficient planes, passenger jet manufacturers are bracing for a slowdown in demand while they focus on meeting tight delivery schedules and ambitious production targets.

 http://www.reuters.com…   Tue.,  20  June 2017

A thousand US CEOs and mayors: 'we will continue to fight climate change'

The Paris Agreement is a blueprint for job creation, stability and global prosperity

Over a thousand mayors, businesses, investors, and academic institutions have signed a pact to continue fighting climate change in the US despite Donald Trump’s withdrawal from the Paris Agreement.

Last week, Mr Trump pulled out of the Paris accord, stressing that it puts American workers at an “economic disadvantage” and that it is “unfair” for the US economy.

The “We Are Still In” initiative represents $6.2 trillion of the US economy – composed of bipartisan “drivers of the real economy,” Lou Leonard, World Wildlife Fund’s Senior Vice President of Climate Change and Energy, told The Independent.

http://www.independent.co.uk…  Tue.,  06  June 2017