It’s been another year of unwarranted enthusiasm for Tesla Motors and CEO Elon Musk, who parlayed that exuberance for his unprofitable company into a $1.3 billion incentives package from the state of Nevada.
But despite that legislatively unanimous award from three months ago, and a stock price that has flown high for most of the year, there are signs that the shine over the luxury electric automaker is beginning to dull.
Perhaps the most noteworthy skepticism has arisen from popular automotive Web site Jalopnik, which otherwise has been a fairly reliable (but not robotically so) cheerleader for Tesla. An end-of-year article written by blogger Damon Lavrinc recounts the automaker’s legacy of non-fulfillment and asks, “What will Tesla and Elon Musk over-promise next?”
“So where are those battery-swapping stations Tesla promised?” Lavrinc wonders. “Or its big push into the energy storage biz? Didn’t we hear something about the … Read More ➡
Global warming alarmists have spent time and money that spans decades and has cost billions of dollars, yet all their tactics and messaging haven’t moved the public-concern meter above “who cares?” So-called “climate change” does not even register near the top of environmental problems that most Americans worry about – much less among all policy issues – according to Gallup polling.
That doesn’t mean the fear-mongers have given up, of course, as the latest effort by environmental pressure group Ceres illustrates. The activist group – which exerts its influence via shareholder activism (claiming $10 trillion in assets) in pursuit of their definition of a “sustainable” global economy – last week sent a letter endorsed by 223 companies to President Obama, in support of EPA’s controversial proposed standard for existing power plants to limit carbon dioxide emissions. Some of the largest and most recognized corporations signed on, including Adidas, … Read More ➡
Three years ago NLPC reported that Google would abandon its two-year effort to produce “Renewable Energy Cheaper Than Coal” (RE<C), a frivolous exercise that came at the height of the Obama-driven fervor to create “green” jobs with visions of stimulus-nourished wind and solar projects.
The company’s Green Energy Czar Bill Weihl in 2009 had boasted to Reuters that he expected “within a few years” that his people would be able to demonstrate technology that produced renewable energy cheaper than coal.
“It is even odds, more or less,” said Weihl, a Time magazine “hero of the environment,” at the time. “In three years, we could have multiple megawatts of plants out there.
Weihl left Google shortly after the company killed RE<C, but not before the company poured more than $850 million into renewable energy ventures. But now two engineers who worked on the project, who … Read More ➡
As the nation awaits a decision from a grand jury Ferguson, Mo. about whether they will charge a police officer for shooting and killing black teenager Michael Brown, the new leader of the Congressional Black Caucus has already publicly stated that anything but indictment will not represent justice.
The comments (audio) came as Congressman G.K. Butterfield, a North Carolina Democrat, assumed the chairmanship of the CBC last week. He expressed his concern in an interview with WUNC in Chapel Hill, a NPR affiliate, when asked about the problem of civil unrest in “places like Ferguson” and what he thought his role was in “moving conversations forward” with regard to race relations.
“I would certainly hope that the grand jury in Ferguson, Missouri will find that there is sufficient evidence to conclude that a crime probably was committed,” Butterfield responded. “To lay out that crime, and to let a jury of … Read More ➡
Reuters sources inside Nissan are saying the production of batteries in Tennessee for the all-electric Leaf, which stimulus-subsidizing U.S. taxpayers backed with a $1.4 billion loan, could be eliminated.
According to the report, at minimum there is sharp debate over whether the company will continue to manufacture electric vehicle batteries in-house or contract with an outside supplier. Nissan partner Renault, which has 43.4 percent shareholder ownership in the joint company, is said to be pushing for outsourcing battery production – possibly to LG Chem. None who revealed the information were identified for the Reuters story.
“We set out to be a leader in battery manufacturing but it turned out to be less competitive than we’d wanted,” said a Nissan executive to Reuters, on condition of anonymity. “We’re still between six months and a year behind LG in price-performance terms.”
If they’re really thinking about a move … Read More ➡
Global warming is the current issue that will be forgotten again next week, but while the watermelons demonstrated in New York City where President Obama spoke at the Climate Summit at the United Nations, former Bush (II) Treasury Secretary Henry Paulson ran his mouth at the Clinton Global Initiative’s annual meeting.
A Republican that leftists turn to for a good “enviro-kumbaya” session came through with the rhetoric again this week. Most recently known for his partnership with statists Tom Steyer and Michael Bloomberg in the shame-the-capitalists effort called “Risky Business,” Paulson delivered a financial market parallelism on climate change that any Occupy Wall Streeter would be proud of.
On what seemed to be a randomly assembled panel of non-experts that also included the Rockefeller Foundation’s Judith Rodin and Danish Prime Minister Helle Thorning-Schmidt (famous for the selfies she took with President Obama at Nelson Mandela’s memorial), Paulson … Read More ➡
There was little doubt that once CEO Elon Musk and Tesla announced they would locate their electric vehicle battery “Gigafactory” in Nevada, that Silver State lawmakers would vote in a special legislative session to support targeted tax breaks and incentives – even at the breathtaking amount of $1.3 billion.
Gov. Brian Sandoval, the courter, would have appeared an extreme fool if he didn’t already have the political backing needed for the deal. But there were other mini-surprises: Unanimity at the legislature; four separate bills passed to construct the package; and benefits enjoyed by other industries in Nevada that were rescinded to help with the Tesla payoff.
“This is obviously an historic and exciting day for our great state,” said Democrat state Sen. Justin Jones from Las Vegas.
Just imagine how Nevada lawmakers would feel if they won the heart of a real automobile company, like Texas just did… Read More ➡
Only a year after Tesla Motors and CEO Elon Musk extracted themselves from the $465-million taxpayer stimulus loan that brought critical scrutiny to the company’s performance, the electric automaker has once again put itself under the spotlight that comes with taking government corporate welfare.
Today the company will announce its plans to build a battery manufacturing plant near Reno. The new gambit was the culmination of competition that pitted at least five states against one another for the “privilege” of hosting Tesla’s “Gigafactory” – named so because of the amount of stored power they plan to produce. Cost to build the plant is estimated to be $5 billion, and Musk said he expected the winning bidder to cover at least 10 percent of that, according to the Associated Press. That means at least $500 million in some form of incentives or conciliations from Silver State taxpayers.
The dance … Read More ➡
Billionaire enviro-liberal Tom Steyer should thank his earth-healing, universalist, Less-Than-Supreme Being that the planet’s survival isn’t dependent on his business influence or political expenditures, because they have been massive flops.
Take, for example, “Risky Business,” his venture (along with figureheads Henry Paulson and Michael Bloomberg) introduced in late June to pressure businesses, investors and policymakers to account for vast planning costs for impending global warming effects in their financial reports. Initial media coverage of the contrived project made it appear that it would exert major influence in the corporate world. But while the scheme attempted to show intellectual rigor and nonpartisan analysis, Risky Business was easily revealed to be nothing more than another deeply biased construction to drive a political agenda.
A month after its introduction – accompanied by a New York Times op-ed by Paulson and interviews by Steyer and Bloomberg – and Risky Business … Read More ➡
After three years and $1.4 billion in stimulus subsidies from U.S. taxpayers, you’d think the technology and performance of the all-electric Nissan Leaf would have improved rather than worsened by now.
You’d be wrong.
Whereas once the Leaf enjoyed a favorable review by Consumer Reports (despite an extremely unpleasant test experience by one of its researchers and the identification of several negative features), the magazine has yanked its recommendation. That’s because of the Leaf’s dismal safety performance in crash testing of small cars by the Insurance Institute for Highway Safety, where it received a rating of “poor,” along with three other models.
“Collapse of the occupant compartment is the downfall for four small cars in this group, including the…Leaf,” said Joe Nolan, senior vice president for vehicle research for the IIHS. “A sturdy occupant compartment allows the restraint systems to do their job, absorbing energy and controlling … Read More ➡