This won't happen but the "Mob" wants to hear it

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dan_s
Posts: 34471
Joined: Fri Apr 23, 2010 8:22 am

This won't happen but the "Mob" wants to hear it

Post by dan_s »

California to ban ICE vehicles by 2035.
Still reeling from historic wildfires, California Governor Gavin Newsom is seeking to end the internal-combustion engine. Governor Newsom ordered state regulators to come up with rules to phase out the sale of new gasoline or diesel vehicles by 2035. The move will have a dramatic impact on in-state refiners and oil producers, but because California consumes nearly 1 mb/d of oil, the impact will be felt globally. However, successful implementation is uncertain as it relates to ongoing legal battles, the makeup of the Supreme Court and the outcome of the presidential election.

I love it when political leaders think they can pass laws setting unachievable goals and they will magically happen. I wonder if Gavin even knows where electricity comes from. The infrastructure cost will be massive and California is totally broke today.
Dan Steffens
Energy Prospectus Group
dan_s
Posts: 34471
Joined: Fri Apr 23, 2010 8:22 am

Re: This won't happen but the "Mob" wants to hear it

Post by dan_s »

Tesla disappoints on Battery Day. Tesla’s (NASDAQ: TSLA) market cap fell by $50 billion after its highly-anticipated “Battery Day” disappointed. Elon Musk promised to manufacture an autonomous EV at a $25,000 price point within three years. The announcement was light on details and also echoed past promises to build a cheaper EV. “Nothing Musk discussed about batteries is a done deal,” said Roth Capital Partners analyst Craig Irwin. “There was nothing tangible.”

Tesla’s lithium mining plan raises questions. Elon Musk said that Tesla would produce lithium in Nevada near its Gigafactory, but the technology needed to produce lithium from clay is unproven, according to Reuters. “This plan from Tesla brings up a lot more questions than it answers,” Chris Berry, an independent lithium industry consultant, told Reuters. “Are we just supposed to take Elon Musk’s word for it that the cost will be lower than existing lithium projects?”
Dan Steffens
Energy Prospectus Group
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