Hold on tight to your gas-powered car
source link: https://finance.yahoo.com/news/hold-on-tight-to-your-gas-powered-car-193629839.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Hold on tight to your gas-powered car
broadcaster, CCTV.
Hooray for electric vehicles. Someday, they’re going to help slash carbon emissions and get global warming under control.
Getting there, however, is not likely to be an effortless glide on gleaming blacktop. This is going to be a bumpy road, and the faster we go, the bumpier it’s going to get. Get ready to surround yourself with airbags. And get a helmet, maybe.
The Biden administration is reportedly set to boost fuel-efficiency standards in a way meant to dramatically speed the adoption of electric vehicles, or EVs. The New York Times reports that the goal is to boost EVs from less than 6% of new-car purchases today to nearly 70% by 2032.
One way to do that through regulatory power would be to crank up the fuel-efficiency standards automakers must meet. The current rules require automakers to average 49 miles per gallon (MPG) per vehicle, across their fleets, by 2026. Raising that to 60 or even 70 MPG would leave no choice but to rapidly roll out EVs. The Environmental Protection Agency is due to spell out its approach on April 12.
The key fact here is that it’s nearly impossible to make gasoline-powered cars more efficient than they already are. After 100-plus years of innovation on the internal-combustion engine, we’re far down the curve of diminishing returns.
But EVs are a step-change in efficiency, at least the way the government measures it. Most EVs average more than 100 MPG-equivalent, a measure that equates electrical power with what a gas engine produces. The thrifty Honda Civic, by contrast, averages just 35 MPG. So if Honda built more gas-powered Civics, it would actually harm the automaker’s fleet-wide fuel-economy. More hybrids, with both a gas engine and a battery, would barely help. The only way to reach a lofty new federal MPG requirement will be with electrics.
[Drop Rick Newman a note, follow him on Twitter, or sign up for his newsletter.]
The goal is laudable. The implementation, however, could be a multi-car pileup. It’s hard to think of an era of forced technology adoption anything like what Biden supposedly has in mind. The government has been tightening fuel-economy standards since the 1970s, but that has largely been a gradual process. Even then, unintended consequences have caused unforeseen problems.
- Fortune
A professional couple who make over $200,000 combined say it’s ‘hilarious’ to think they could afford a home in Los Angeles
“With housing costs being what they are, just the idea of us ever owning a home is absolutely, like it’s funny," college professor Stan Oklobdzija told Fortune.
2d ago - Fortune
Billionaire investor Barry Sternlicht says inflation is going to ‘drop hard’—just look at rents
Starwood Capital CEO Barry Sternlicht says that rents tell us inflation is about to plummet.
2d ago - Barrons.com
Tesla’s Price Cuts Might Not Be as Radical as Investors Believe
Depending if an investor is a Tesla bull or Tesla bear, Elon Musk's pricing strategy is either a stroke of genius or a disaster starting to unfold. The truth probably lies in the middle.
6h ago - Bloomberg
PG&E Sued To Force Closure of California’s Last Nuclear Plant
(Bloomberg) -- Pacific Gas & Electric Co. has been sued by an environmental group in an attempt to block the utility from seeking an extension of federal licenses to run California’s last nuclear power plant.Most Read from BloombergKatie Cotton, Guardian of the Apple Brand for 18 Years, DiesTwitter Company ‘No Longer Exists,’ Is Now Part of Musk’s XElizabeth Holmes Will Have to Wait Out Her Appeal in PrisonTumbling Money Supply Alarms Economists Who Foresaw InflationInflation Data Will Shatter t
5h ago - Investor's Business Daily
Tesla Stock Vs. BYD Stock: Tesla Cuts Prices Again After Deliveries Miss; BYD Faces Key Test
Tesla and BYD are the world's largest electric-vehicle makers. In 2022, BYD vehicle sales raced far past Tesla's. Among all-battery electric vehicles, or BEVs, Tesla still leads. Tesla announced big price cuts worldwide in January.
9h ago - Business Insider
The 2-year Treasury yield is 'acting like a meme stock' and swinging wildly as investors see the Fed making a mistake by not cutting interest rates, says John Hancock strategist
"There's nothing like a deeply inverted yield curve to tell you you're making a mistake."
5h ago - Benzinga
Elon Musk And Tesla Continue To Help Australia Leave Fossil Fuels Behind With Big Batteries
South Australia is the home of the first Tesla Big Battery. The company’s 2016 installation of the Big Battery at the Hornsdale Power Reserve made waves and fueled skeptics who thought the region was putting its grid and residents at risk. See Also: The House-Printing Robot Shaking Up a $7.28 Trillion Industry The operation developed after a massive storm damaged critical infrastructure throughout the region, and leaders wanted a more sustainable and reliable electrical infrastructure. Tesla Inc
13h ago - Business Insider
Bank of America shares 12 charts that show that the economy is about to enter a full-blown recession
"Investors too optimistic on rate cuts and not pessimistic enough on recession," Bank of America's Michael Hartnett said.
1d ago - The Wall Street Journal
China Is Facing a Moment of Truth About Its Low Retirement Age
A policy in place for decades to let women retire as early as 50 and men at 60 is becoming untenable as a wave of retirees looms.
16h ago - Fox Business
Boeing returns 737 MAX service for 11 Chinese airlines
The Boeing Company said 11 Chinese airlines have returned the 737 MAX to commercial service as of April 10 in a sign of the plane maker's commitment to its second biggest market.
12h ago - Bloomberg
Russian Windfall Plunges by $51 Billion as Energy Cash Dries Up
(Bloomberg) -- Russia’s current-account surplus shrank last quarter by over $51 billion from a year earlier, as sanctions increasingly deprive the government of what’s been a critical source of hard currency since the invasion of Ukraine.Most Read from BloombergKatie Cotton, Guardian of the Apple Brand for 18 Years, DiesElizabeth Holmes Will Have to Wait Out Her Appeal in PrisonTwitter Company ‘No Longer Exists,’ Is Now Part of Musk’s XTumbling Money Supply Alarms Economists Who Foresaw Inflatio
14h ago - Zacks
EV Roundup: STLA Unveils RAM 1500 REV, GM Begins Zevo 600 Deliveries & More
Stellantis' (STLA) 2025 Ram 1500 REV is set to have a targeted range of up to 500 miles. General Motors (GM) commences delivering the first 500 units of its electric van, BrightDrop Zevo 600.
16h ago - Bloomberg
Fed Officials Signal Divide Over Whether to Hike Rates Again
(Bloomberg) -- Federal Reserve officials sounded divergent notes about the central bank’s next policy move, with one of its top officials suggesting another rate increase may be needed to quell inflation and its newest policymaker signaling a pause may be in order.Most Read from BloombergKatie Cotton, Guardian of the Apple Brand for 18 Years, DiesTwitter Company ‘No Longer Exists,’ Is Now Part of Musk’s XElizabeth Holmes Will Have to Wait Out Her Appeal in PrisonTumbling Money Supply Alarms Econ
5h ago - SmartAsset
Good News: You Got a Cash Windfall! Bad News: It Could Affect Your Retirement
The windfall elimination provision (WEP) reduces Social Security benefits for certain employees who may be double-dipping on a pension.
17h ago - Reuters
Dominion Energy to buy solar project in Virginia
The solar project, called Foxhound, has been in development for six years and will produce enough clean energy to power more than 17,000 homes, Longroad said in a press release. Financial details of the deal were not disclosed.
17h ago - Business Insider
Top economist Mohamed El-Erian sounds recession alarms and warns of stagflation after slew of bank failures last month
"It is a phenomenon that, unlike financial contagion, is not easily countered by policies," El-Erian said of the looming credit crunch.
1d ago - Fortune
A new Fed survey suggests ‘the credit crunch has started’ and the tight money era has arrived. Here’s what that means for a recession
It was easy to put things on the proverbial credit card during the free money era.
13h ago - Business Insider
The Fed won't be able to bring inflation down to its target, and Americans will have to live with high prices for years, BlackRock says
Strategists from the world's largest asset manager said the narrative around the "politics of inflation" is about to shift.
5h ago - AP Finance
California storms hit beekeepers, but honey outlook's sweet
During California's prolonged, wet winter, beekeeper Gene Brandi said he had to spend twice as much money on a sugary syrup to feed his honeybees and keep them alive. Since the bees weren't out gathering nectar and pollen for nourishment, the 71-year-old beekeeper provided sustenance for them. “We probably fed twice as much than we’ve fed in a normal year,” said Brandi, of the Central Valley community of Los Banos.
2d ago - Business Insider
A credit crunch is coming for the US that'll tip the economy into recession, 'Dr. Doom' economist Nouriel Roubini warns
"Dr. Doom" Nouriel Roubini said a "good chunk of the US banking system" will face a serious credit crunch that'll likely trigger a recession.
8h ago - Investor's Business Daily
These Are The 5 Best EV Stocks To Buy And Watch Now
EV stocks have multiplied in Tesla’s wake and as electric cars look to go mainstream. Here are the top-rated electric-vehicle makers.
2d ago - Barrons.com
Ford Is Prepping a Canadian Assembly Plant for an Electric Future
The car company will invest $1.8 billion in its Oakville, Ontario, assembly plant as it prepares to launch its next generation of EVs in 2025.
14h ago - Bloomberg
Financial Chaos at 12,000 Feet: Dollars Are Vanishing in Bolivia
(Bloomberg) -- The line starts forming outside the central bank in downtown La Paz in the dead of the night. Hunkered down under blankets and sipping hot chocolate to fend off the chill at 12,000 feet up in the Andes, they wait for hours and hours for a chance to get their hands on what has perhaps become the hardest thing to find in all of Bolivia: dollars.Most Read from BloombergBond Market Is Overplaying the Risk of a Deep RecessionApple’s 40% Plunge in PC Shipments Is Steepest Among Major Co
2d ago - Yahoo Finance
Fed's Williams: The Fed has its 'work cut out' bringing down inflation
NY Fed president John Williams told Yahoo Finance on Tuesday inflation remains "very high," a challenge for the central bank that is working to ensure prices rise at a 2% annual rate.
11h ago - Reuters
Fed's Harker wants interest rates to get above 5%, then sit
(Reuters) -Philadelphia Federal Reserve Bank President Patrick Harker on Tuesday said he feels the U.S. central bank may soon be done raising interest rates, a year into its most rapid monetary policy tightening since the 1980s. "Since the full impact of monetary policy actions can take as much as 18 months to work its way through the economy, we will continue to look closely at available data to determine what, if any, additional actions we may need to take," Harker said in a speech at the Wharton Initiative on Financial Policy and Regulation. "But make no mistake: We are fully committed to bringing inflation back down to our 2% target."
7h ago - The Wall Street Journal
Hungary Sees U.S. Among Top Three Adversaries, Purported Leaked CIA Document Says
The document, part of a larger trove of leaked papers, cites a CIA assessment of the depth of the Washington-Budapest rift.
8h ago - The Telegraph
China’s super rich are voting with their assets – and fleeing Xi’s regime
It’s now two months since Chinese billionaire Bao Fan “disappeared”. The 52-year-old investment banker was one of Shanghai’s most successful financiers. That didn’t save him from being seized with no announcement; all Bao’s company has said is that he is cooperating with government investigations.
18h ago - Bloomberg
US Plans Mandated Colorado River Water Cuts to Preserve Dams
(Bloomberg Law) -- The Interior Department is poised to mandate water cuts on the Colorado River to prevent damage to two of the Southwest’s largest hydropower dams in the face of drought, a “dire” scenario the seven river basin states have tried hard to avoid.Most Read from BloombergKatie Cotton, Guardian of the Apple Brand for 18 Years, DiesTwitter Company ‘No Longer Exists,’ Is Now Part of Musk’s XElizabeth Holmes Will Have to Wait Out Her Appeal in PrisonTumbling Money Supply Alarms Economis
10h ago - 1d ago
- Business Insider
How Russia's large-scale war efforts have warped the country's economy, according to top scholars
From airlines to pharmaceuticals, nearly every facet of Russia's economy has been transformed since the Ukraine invasion began.
7h ago - Yahoo Finance
Coming to a Chipotle near you? EV charging stations and rooftop solar panels.
Chipotle (CMG) is out with a new, all-electric restaurant design. It's all part of the burrito chain's goal to reduce direct and indirect greenhouse gas emissions 50% by 2030, compared to 2019.
16h ago - Bloomberg
Fed’s Meeting Minutes to Detail How Officials Weighed Bank Risks
(Bloomberg) -- The Federal Reserve will offer new insight Wednesday into how policymakers reached one of their most difficult decisions in years, shrugging off bank failures that roiled markets last month to deliver a quarter-percentage-point rate hike amid signs of stubborn price pressures.Most Read from BloombergKatie Cotton, Guardian of the Apple Brand for 18 Years, DiesTwitter Company ‘No Longer Exists,’ Is Now Part of Musk’s XElizabeth Holmes Will Have to Wait Out Her Appeal in PrisonTumbli
2h ago - Bloomberg
Iran Accuses US of ‘Warmongering’ After Submarine’s Deployment
(Bloomberg) -- Iran lashed out at the US after its rare move to disclose the deployment of a guided missile submarine in the Middle East over the weekend, amid heightened tensions and violence in the region. Most Read from BloombergBond Market Is Overplaying the Risk of a Deep RecessionApple’s 40% Plunge in PC Shipments Is Steepest Among Major Computer MakersUS Navy Challenges Beijing in South China Sea Amid Taiwan DrillsFedEx Overhaul Contemplates a Future With No Drivers on PayrollSaudi Arabia
2d ago - Business Insider
It's time for the Fed to pause its war on inflation before it starts dragging down the US economy, top Moody's economist says
"If I were king, I would pause the rate hikes – I do think job growth is slowing," Moody's Analytics chief economist Mark Zandi said.
12h ago - TechCrunch
GM leads $50M EnergyX deal to lock down lithium for its EVs
Eager to secure all the lithium it needs to power a growing lineup of electric vehicles, General Motors said on Tuesday that it will lead a $50 million investment into lithium extraction and refining startup EnergyX. With the deal, the legacy automaker says it will help EnergyX scale its lithium-extraction tech. In exchange, GM will get exclusive access to some of the lithium that EnergyX sources from mining companies in North and South America.
8h ago - Reuters
US House committee chair 'concerned' by Tesla deals in China
The leader of a U.S. congressional committee on China said on Monday he was concerned about electric carmaker Tesla Inc's dependency on China, a day after the company revealed plans to open a Megapack battery factory in Shanghai. Tesla announced the factory in a tweet on Sunday, and Chinese state media said it would initially produce 10,000 Megapack units a year, equal to around 40 gigawatt hours of energy storage, and complement a huge existing Shanghai plant making electric vehicles. Mike Gallagher, the Republican chair of the House of Representatives' select committee on China's Communist Party, said he would like to know how Tesla's CEO Elon Musk balances U.S. government support for Tesla and its operations in China.
1d ago - Business Insider
Tesla stock tumbles 5% after the EV maker cuts prices again
Elon Musk's car company surged 68% in the first quarter of the year, though it has tumbled 14% so far in April.
1d ago - Reuters
Exclusive-Russia starts fuel supplies to Iran by rail -sources
Russia started fuel exports to Iran by rail this year for the first time after traditional buyers shunned trade with Moscow, according to three industry sources and exports data. Russia and Iran, both under Western sanctions, are forging closer ties in order to support their economies and to undermine Western sanctions which both Moscow and Tehran cast as unjustified. Western sanctions on Russian oil products over what Moscow calls its "special military operation" in Ukraine have reshaped global fuel markets with tankers taking longer routes and suppliers choosing exotic destinations and ways of transportation.
19h ago - The Wall Street Journal
Five Dead After Bank Shooting in Louisville, Ky., Police Say
A gunman killed five people and wounded eight others after opening fire at a bank in Louisville, Ky., Monday morning, officials said. The Louisville Metro Police Department said the suspected shooter, a 25-year-old employee at the bank who live-streamed the killings, was fatally shot in a confrontation with police after they quickly responded to the scene. Officers arrived at Old National Bank in downtown Louisville shortly after a report of shots fired and a possible active shooter at around 8:30 a.m. local time, according to Paul Humphrey, deputy chief of the police department.
1d ago - Barrons.com
Hyundai and Kia Want a Podium Finish in the EV Race, With Tesla and BYD
On Tuesday, Hyundai Motor (ticker: 005380.Korea) announced a goal to become the No. 3 maker of electric vehicles globally by the end of the decade. Hyundai is including sales from its group of companies, such as Kia (000270.Korea) and Genesis EV models. It’s another sign that the entire auto industry is going all-in on EVs.
11h ago
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK