After three recent fires, Tesla Motors CEO Elon Musk said he asked the National Highway Traffic Safety Administration to investigate its Model S.
NHTSA said no he didn’t.
Tesla has been saying it received the highest safety rating in the U.S., a “new combined record of 5.4 stars.”
NHTSA says there’s no such thing.
Musk said he expects the investigation will clear Tesla after incidents in which metal objects struck the underside where the Model S battery is located.
NHTSA says we’ll see, and a decision whether there should be a recall will likely take months. Maybe a lie detector test needs to be part of the study.
Musk thought he had averted scrutiny after the first fire in Washington state last month, when NHTSA declined to investigate the cause. Then another fire followed a collision in Mexico, and another blaze ignited in Tennessee a couple weeks … Read More ➡
The survival of wind and solar energy, like electric vehicles, is wholly dependent on coerced wealth transfers by government from the private sector (i.e., taxpayers) to the renewable industry. This distorted “economic sector” could only exist under political practices such as Communism at worst, and crony-favoring corporate welfare at best.
Unfortunately for “green” proponents, they are stuck with the stigma that they can’t make it without government mandates and subsidies. The last few years of President Obama’s (un-)stimulating spending, with billions of dollars that have gone to prop up projects that produce piddly amounts of energy (compared to fossil fuels), that have resulted in bankruptcies including Solyndra and Abound Solar, have projected an even worse image for wind and solar.
As a result the advocates for clean-tech, in order to conceal the true nature of renewable economics, have come up with a new term: “Democratization.” … Read More ➡
Fires, faulty drive units, financial losses and stock price deflation marked Tesla Motors news in a week that seemed as bad as the last couple of years were good.
Fortunately for CEO Elon Musk and his support staff he’s mastered the art of celebri-preneur showmanship that he’s built enough standing with the media to endure a really bad week. The multi-billionaire who’s dazzled with innovation at Paypal, SpaceX and SolarCity will be permitted his stumbles because of his track record and his self-assurance. Henrik Fisker, whose taxpayer-backed luxury electric auto company didn’t get nearly the same favor, must be jealous.
But even Fisker Automotive didn’t suffer three vehicle fires in the space of six weeks, like Tesla’s Model S just did. The latest occurred Wednesday afternoon near Nashville. The Tennessee Highway Patrol told Associated Press that the car’s driver ran over a tow hitch on Interstate 24. … Read More ➡
After an Inspector General’s audit earlier this year of now-bankrupt electric vehicle charging company Ecotality, which determined that millions of taxpayer dollars were wasted in a nearly unworkable program, the IG has returned with findings that the Department of Energy withheld information about the project’s problems during his first investigation.
The audit, released by DOE IG Gregory Friedman in July, determined (among other things) that the persistent weak demand for electric vehicles harmed the deployment and timeliness of a $135 million-plus taxpayer funded charging network, which led to excessive grants and project expansion that became virtually unusable under the grants’ guidelines. Investigators discovered that conditions for reimbursement to Ecotality for the EV charging demonstration project were “very generous” and that cost-sharing requirements were extremely lenient.
Shortly after that report was released, on August 7, Ecotality informed DOE that it was in financial distress and that its ability to do … Read More ➡
Entrepreneurs in industries tied to the energy efficiency gambit, justified by the climate change House of Cards, all have the same false bravado: they are “game changers” and “market leaders” (for products nobody wants); all their squandered revenues are “investments;” their technological breakthroughs are always “just around the corner;” and it just takes one more round of mandates/grants/loans/tax breaks to achieve viability in the free market.
It’s true of renewable energy and electric vehicles, and as Cree Inc. CEO Chuck Swoboda (in photo with President Obama) revealed last week, it’s true of the alternative light bulb industry too. In a shareholder meeting at the company’s Durham, N.C. headquarters, he boasted about his marketing acumen that he says will persuade the public to embrace Cree’s light-emitting diode (LED) technology and abandon the traditional light bulb – which consumers will soon have no choice about. The meeting featured some new Cree television … Read More ➡
Tony Stark Elon Musk, the adored Paypal/SpaceX/electric-car innovator who’s been showered with unmitigated media praise and highly inflated stock values, has another lithium ion battery fire to explain.
This one happened after a Model S crash in Mexico. The last one happened less than a month ago in Kent, Wash. Since then Tesla’s share price has fallen from $193.90 on Sept. 30 to $160.58 this afternoon. The irrational exuberance that made the electric automaker the darling of Wall Street has now become merely excitable, although still unjustifiably so. Even Musk himself told Bloomberg last week, “The stock price that we have is more than we have any right to deserve.”
While the fanboy fave exhibited a measure of humility about Tesla’s stock market prestige, the two fires have not moved the needle in that respect. The official stance the company took in both cases … Read More ➡
It may be the height of irony that a company that was supposed to soar to the top of the new clean energy economy, with the help of U.S. taxpayers to undergird President Obama’s stimulus visions, has instead left both an environmental and financial mess after its demise.
Yet that’s exactly the case with miserable failure Abound Solar, which the president’s Department of Energy thought so much of, they awarded it a $400 million loan guarantee. That proposition quickly soured and the government halted payouts after about $70 million. The company went bankrupt in June 2012, leaving taxpayers out between $40 million and $60 million that was never recovered.
There was other collateral damage, not the least of which was a huge toxic mess from unused panels and abandoned chemicals at Abound’s former facilities. The environmental nightmare was discovered earlier this year, but this month – thanks to … Read More ➡
Last week it was Walmart CEO Mike Duke’s duty to find an explanation for continuing declines in same store sales, as the company hosted its 20th Annual Meeting for the Investment Community on Tuesday.
Despite the fact that the most recent quarterly report ended in July and brought a surprising (to analysts) .3 percent drop for the second quarter, when a one percent gain was expected, Duke cited the two-week old government shutdown and a “tough and unpredictable global economy” as reasons for the poor performance.
“It should come as no surprise that the government shutdown is on the minds of our U.S. customers,” Duke told his audience. “As you would expect, we’re following the situation very closely.”
Of course the shutdown came long after the second quarter reports, so there had to be other explanations.
“The competition is also tough,” Duke said. “I see it when I … Read More ➡
A fire (screen capture from Jalopnik.com) that torched a Model S from the formerly Teflon Tesla Motors on Tuesday blackened its front end, lowered its stock price, and (further) revealed a corporate arrogance not seen since Fisker Karmas were alight.
But CEO Elon Musk saw to it that taxpayers were fully paid back their $465 million Department of Energy loan, so as watchdogs over the public purse we can forget all about it and just go on about our business – right?
Wrong. The incident near Seattle still should be of great concern because Tesla still heavily depends on tax breaks (like the consumer’s $7,500 federal credit) and the sale of emissions credits (mainly from California) to partially subsidize the costs of their electric cars. Moreover, the government has invested billions of dollars in the research and development of new battery technology, all in the name of energy efficiency … Read More ➡
On the heels of the UN Intergovernmental Panel on Climate Change’s official position that human-generated carbon dioxide is “extremely likely” the “dominant” cause of warming since the mid-20th Century, the Environmental Protection Agency’s simultaneously proposed rule to limit such emissions from fossil-fueled power plants is contradictory.
EPA has wholeheartedly sold the global warming “scientific consensus” justification for CO2 limits to the public, and as a result has conducted a “war against coal” in conjunction with environmental pressure groups for years. And President Obama – who was most recently vocal about it in June – called for the elimination of tax breaks for “Big Oil” and has repeatedly expressed opposition to the construction of the Keystone XL pipeline.
So what’s the contradiction?
Under the proposed EPA rule, newly built coal-fired power plants would have to eliminate 40 percent of their carbon dioxide emissions by using not-ready-for-prime-time capture and sequestration … Read More ➡