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Phillips 66 teams up with hydrogen fuel cell co. Plug Power

Latham, New York-based Plug Power, a fuel cell and electrolyzer manufacturer, will benefit from Houston-based Phillips 66's fuel marketing experience in the United States and Europe as well as its background developing and operating large hydrogen-production plants......»»

Category: topSource: bizjournalsOct 14th, 2021

Toyota (TM) Bets High on U.S. Electric Future With $3.4B Investment

Toyota's (TM) latest investment will likely usher an era of more affordable EVs for the U.S. consumers. Toyota Motor TM recently announced the decision to invest $3.4 billion (380 billion yen) for automotive battery development and production in the United States through 2030.The investment, which comes through Toyota’s North American arm, also involves the plan to establish a new company and build an automotive battery plant in the United States, in collaboration with Toyota Tsusho. The plant, anticipated to enter production in 2025, involves an outlay of $1.29 billion for expansion until 2031, resulting in the creation of 1,750 new jobs.The venture will initially focus on producing batteries for hybrid electric vehicles (EVs). The new company's activities will also include aiding Toyota in enhancing its local supply-chain network and production expertise related to lithium-ion automotive batteries. Specific details of the project, including the location, production capacity and business structure, are yet to be revealed by the automaker. With the aggravating climate-change concerns, automakers across the globe have been revving up their EV efforts in order to roll out more environmental-friendly vehicles on the road. The development of batteries used to power EVs has become crucial in order to decarbonize the global economy. Global automakers have enhanced their investments in battery production as they compete with the EV behemoth Tesla TSLA. General Motors GM is committed to its goal of providing completely carbon-free transportation, and has pledged to invest $35 billion in EVs and autonomous vehicles by 2025. Last month, Ford F announced plans to spend a whopping $11.4 billion with South Korea’s SK Innovation to build battery and EV plants in Tennessee and Kentucky.Amid this changing scenario, Toyota has also been a pioneer in the mass production of solid-state batteries, revolutionizing the EV space. The latest investment is part of the global total of $13.5 billion (1.5 trillion yen) earmarked by the Japanese auto biggie last month for investment in battery development and production through 2030. Moreover, the latest project is expected to help Toyota advance its climate goals to achieve carbon neutrality in a sustainable manner.  Also, the investment is expected to usher an era of more affordable EVs for U.S. consumers.Toyota’s Electrification PushToyota has been the king of hybrid vehicles since the introduction of its popular Prius compact vehicle. It has also been investing in fuel-cell vehicles like the Mirai, and sells the UX300e in Europe and China. However, the auto giant has been relatively slower in the adoption of EVs into its line-up, and has no pure-electric offerings at the moment. Nonetheless, the automaker is set to roll out its first all-electric line-up next year in an attempt to quell criticism that it has been slow to shift to electric cars. The automaker plans to build about 70 hybrid or electric models by 2025, of which 15 will be fully electric. Also, Toyota targets to sell 8 million partially or fully electrified vehicles by 2030, of which about 2 million will be battery-powered cars and fuel-cell vehicles, while the other 6 million will be gasoline-electric hybrids or plug-in hybrids.The auto giant also intends to slash the cost of its batteries by 30% or more. It anticipates to achieve this goal by working on the raw materials used in the production of batteries and the way the battery cells are structured. The automaker also plans to optimize the power consumption of these batteries by 30%, starting with its upcoming compact SUV model — Toyota bZ4X. It aims to set up a total of 70 EV battery lines by 2030, capable of producing 200-gigawatt hours of battery power.  Further, to cater to the surging demand for clean energy vehicles in the United States, this Zacks Rank #3 (Hold) company targets EVs to account for nearly 70% of its U.S. sales by 2030, up from almost 25% currently. The company expects it will sell as many as 1.8 million electrified vehicles in the United States by 2030, including the zero-emission models.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Zacks' Top Picks to Cash in on Artificial Intelligence In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ford Motor Company (F): Free Stock Analysis Report Toyota Motor Corporation (TM): Free Stock Analysis Report General Motors Company (GM): Free Stock Analysis Report Tesla, Inc. (TSLA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksOct 19th, 2021

EV Roundup: HMC EV Ambitions in China, SOLO-Bosch Partnership & More

While Honda (HMC) announces plans to go all-electric in China by 2030, ElectraMeccanica (SOLO) seals a deal with Bosch for repair and maintenance services for its flagship SOLO model. The electric vehicle (EV) revolution is speeding up, with legacy automakers leaving no stone unturned to establish a strong foothold in this domain and setting ambitious targets to electrify their fleet. In this regard, last week, Japan-based auto biggie Honda HMC pledged to sell only electrified vehicles in China, the world’s largest auto and EV market, by 2030. Meanwhile, China Association of Automobile Manufacturers released new energy vehicles sales data in the country for September. Sales of battery-powered EVs, plug-in hybrids and hydrogen fuel-cell vehicles (FCEVs) more than doubled last month to 357,000 units, courtesy of favorable government policies. Per China Passenger Car Association, EV king Tesla TSLA sold 56,006 EVs last month in the country. Tesla currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Last Week’s Key StoriesElectraMeccanica SOLO inked a deal with Bosch to build a service network of independent auto repair shops to support service and maintenance operations for the EV maker’s flagship SOLO model. The company began the first commercial deliveries of single-seat SOLO EV early this month. With deliveries to reservation holders and fleet owners expected to increase, the partnership with Bosch for service and repair of the vehicles comes at the right time. The Bosch Car Service Network will be initially established in the western United States and gradually expand through the rest of the nation. Nikola NKLA collaborated with international multi-service flatbed transportation firm PGT Trucking. The alliance includes a letter of intent from PG Trucking to lease 100 Nikola Tre heavy-duty FCEVs post the completion of the Nikola Tre FCEV demonstration program. Deliveries of the FCEVs to PG Trucking are expected to commence in 2023 after production begins at Nikola’s Arizona manufacturing plant. The deal will enable PG Trucking to offer advanced transport solutions, as it intends to reduce its carbon footprint.Arcimoto FUV released third-quarter 2021 stakeholder update. The company notified that it produced 78 vehicles in the quarter under discussion, reflecting a decline from 85 vehicles manufactured in the second quarter amid the global chip crisis. The final production figures will be unveiled in its third-quarter SEC filings. Meanwhile, sales hit a record of 64 units, more than doubling from the last reported quarter. The EV maker also announced the launch of its marketing trip, the Ride Of The Arconauts, which kicked off on Oct 16, to spread awareness of the latest and exciting EV models.Honda announced plans to sell only electrified vehicles in China beginning 2030. The auto giant will no longer introduce any fossil-fuel vehicles and electrify all upcoming models. In 2022, the firm will launch a new electric vehicle brand in China called e:N Series. Under this brand, Honda will roll out 10 new EVs in five years in collaboration with its partners GAC and Dongfeng Motor. The first set of e:N Series models, e:NS1and e:NP1, will hit the roads in spring 2022. New EV production plants are set to be established at both GAC Honda and Dongfeng Honda, with the commencement of production expected in 2024.Cummins CMI announced a 15-liter natural gas engine for heavy-duty trucks, in sync with its aim of reducing greenhouse gas emissions. The expanding product lineup focusing on greener solutions will enable the company to achieve PLANET 2050 environmental goals, per which, Cummins aims to reduce emissions from new products by 30% by 2030 and attain carbon neutrality by 2050.Price PerformanceThe following table shows the price movement of some of the major EV players over the past week and six-month period.Image Source: Zacks Investment ResearchIn the past six months, all stocks have increased, apart from Canoo and Lordstown Motors. Lordstown bore the maximum brunt, with shares declining 45.6%. In the past week, all stocks but Arcimoto have increased, with XPeng XPEV being the top performer.What’s Next in the Space?Stay tuned for announcements of upcoming EV models and any important updates from the red-hot industry. Also, investors are keenly awaiting third-quarter earnings of Tesla, which is slated to report on Oct 20, after the closing bell. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cummins Inc. (CMI): Free Stock Analysis Report Honda Motor Co., Ltd. (HMC): Free Stock Analysis Report Tesla, Inc. (TSLA): Free Stock Analysis Report Arcimoto, Inc. (FUV): Free Stock Analysis Report ElectraMeccanica Vehicles Corp. (SOLO): Free Stock Analysis Report Nikola Corporation (NKLA): Free Stock Analysis Report XPeng Inc. Sponsored ADR (XPEV): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksOct 18th, 2021

The 5 best fire pits of 2021 to keep warm in the backyard or while camping

A fire pit brings warmth to outdoor hangouts during the fall and winter, be it in a backyard or while camping. Here are the five best we've tested. BioLite Table of Contents: Masthead Sticky A fire pit warms up any outdoor area, creating a relaxing space for family and friends to enjoy year-round. The best are easy to light and channel smoke away from the pit - some even allow you to grill food on them. Our top pick, Breeo's X Series 24, is a stylish and solidly built fire pit that can also help you cook dinner. There's no question that gathering around a fire with friends and family is a fun and communal outdoor experience, even when it starts to get colder during the fall and winter months. Whether you're making s'mores and telling ghost stories with the kids, catching up with the neighbors over drinks, or just stargazing with a partner, the warmth and light of fire are incredibly relaxing. These kinds of experiences are so popular now that buying a fire pit has become standard practice for homeowners. But with so many different options to choose from, it's not always easy to know which ones are worth investing in.Having spent many a night huddled around my own assortment of fire pits both in my backyard and on many camping trips, I've become accustomed to this brand of relaxation. And although there's no shortage of fire pit variety available for purchase, I've learned along the way the best qualities that make some worth owning over others.So, no matter if you want a fire pit that runs on propane, one that's highly portable, or something that burns wood, there's an option for everyone - and I've rounded up my five favorite below from brands like BioLite and Breeo.I've also included answers to a few fire pit FAQs and fire safety tips, as well as how I tested each of the models featured to decide which made the cut. Here are the best fire pits:Best overall: Breeo X Series 24Best smokeless: BioLite FirePit+Best propane: Outland Living Fire BowlBest portable: Snow Peak Pack & Carry FireplaceBest on a budget: Kingso Outdoor Fire Pit Best fire pit overall Breeo Durable, versatile, and beautiful, the Breeo X Series 24 is an outstanding fire pit that serves as a hub for outdoor entertainment, can help you cook dinner, and looks like a piece of art all at the same time. Pros: Looks great, incredibly well-built, doubles as a wood-fired grill, high-quality components, and lifetime warranty.Cons: HeavyWhen Breeo created its new X Series line of fire pits, a lot of time was spent on design and engineering. The result is a fantastic model that includes integrated airflow technology that makes it easier to get a blaze going while keeping the level of smoke that's produced to a minimum. The company also chose to manufacture the X line from high-quality Corten steel, which allows it to naturally weather over time. This gives it a unique, timeless look that isn't found in most other fire pits. In fact, the level of craftsmanship on display here is head and shoulders above just about anything else on the market, which in turn allows Breeo to confidently back its products with a lifetime warranty.Large enough to accept big logs, the X Series 24 keeps a flame going for hours. Its 24-inch opening makes it easy to continue to feed the blaze for as long as you like. And since this model is nearly 30 inches in diameter, there's plenty of room for people to gather around it to bask in warmth and comfort.As good as the X Series 24 is as a fire pit, it might be even better as a wood-fired grill. The stainless-steel outer ring makes for a nice cosmetic touch, but it actually doubles as a sear plate, sizzling steaks, burgers, chicken, or just about anything else you'd want to grill. This model is also compatible with Breeo's Outpost Grill add-on (which we didn't test at this time) that opens up the possibilities for cooking a meal even further. This optional accessory seamlessly connects to the fire pit while cooking but can just as easily be removed once the meal is done. Breeo's X Series 24 is incredibly well-built and is an upscale product in every way. Unsurprisingly, this makes it one of the more expensive models in our guide at $579. Because it's made with premium materials, it's also a bit heavy, weighing in at 78 pounds — so, don't expect this model to be especially portable. That said, if you're looking for a quality and dependable fire pit designed to last — that also doubles as a reliable grill —the X Series 24 from Breeo is what you seek. Best smokeless fire pit BioLite Technology and design come together in the BioLite FirePit+, a model that not only excels at grilling but comes equipped with an onboard rechargeable battery pack and a unique airflow design.Pros: Great for grilling, burns both wood and charcoal efficiently, integrated fan and battery pack make starting a fire easy and keeps the FirePit+ relatively smoke-free.Cons: The battery pack needs to be recharged regularly.BioLite's original FirePit has been a staple in this guide, so it should come as no surprise that I'm equally as thrilled about its second-generation FirePit+. And it's not just a carbon copy of the first iteration with a new colorway — it actually features some significant upgrades.Most notable among the FirePit+'s upgrades is a new body design that helps radiate more heat outward, something that's been much appreciated during colder shoulder season nights (and even during a few ambitious winter evenings when it was frigid). It also now has a new enamel coating that better holds up to high temperatures and allows for easy cleaning.Even the onboard battery pack got an upgrade, as it's now a 12,800 mAh battery capable of running the fan for far longer compared to the first FirePit. And why would a fire pit need a fan, you ask? For starters, it helps keep air flowing inside the unit itself, which not only allows the fire to burn more efficiently but keeps the amount of smoke produced at a minimum. FirePit+ owners can control the speed of the fan using a button on the device itself or via their smartphone over Bluetooth. Made from a material BioLite calls X-Ray Mesh, the FirePit+ is unique and stylish looking, too. Its mesh sides allow it to keep the fire — and any errant embers — from escaping, while still providing a 360-degree view of the flames.In addition to making a great fire pit, the FirePit+ also doubles nicely as a grill. Because it burns wood and charcoal, it has a high level of versatility. The FirePit+ even comes with a removable grill grate that facilitates hibachi-style cooking. Simply slide the grate into place and you'll be cooking up burgers, hot dogs, steaks, and a variety of other items in no time. And since the FirePit+ weighs less than 20 pounds — and comes with folding legs — it's easy to take with you on camping trips, to the beach, or while tailgating. But do remember to keep the battery charged. If you forget to recharge the power cell on a regular basis, you run the risk of the fan running out of juice. This isn't the end of the world but it does take away some of the shine that helps the FirePit+  rise above its competition. Best propane fire pit Amazon For the ultimate in convenience, it's tough to top the Outland Living Fire Bowl, a propane-powered fire pit that looks great, burns efficiently, and can produce a flame in seconds. Pros: Uses propane as a fuel source, looks great, fast and easy to use, and is smoke-freeCons: Not as versatile as wood-burning models and if you run out of propane you won't be able to maintain a fireWith its sleek, modern design, low profile, and efficient helios burner, the Outland Fire Bowl is a fire pit built for anyone who places a high value on convenience. Thanks to its ability to use propane as a fuel source, this unit can have a flame going in a manner of seconds. This makes it an ideal choice for someone who doesn't have the skills, patience, or inclination to build a fire by hand.It also opens the door for more frequent use simply because it is so easy to start the Fire Bowl up, enjoy a fire for a short time, then shut it off again. Something that a regular wood-burning model simply can't match.  Propane fire pits have other benefits above and beyond just speed and convenience. They also happen to burn more cleanly, which means you won't be dealing with smoke, ash, or soot. This not only makes them easier to keep clean, but also more fun to use, whether it's in the backyard, while car camping, or tailgating at the game. Unlike some propane fire pits, the Fire Bowl doesn't have a push-button ignition which means you'll still have to use matches whenever you want to get a fire going. Once the flames start burning, however, you can adjust the size and intensity of the blaze with the simple turn of a knob. Having this level of control over your fire pit is a real game-changer, although you'll want to make sure you always have an extra propane tank around to avoid running out of gas in the middle of a gathering.Outland ships the Fire Bowl with some handy accessories, including a  pre-attached 10-foot hose and regulator, a stabilizing ring for the propane tank, and lava rocks to put inside the fire pit itself. The unit also comes with a cover and a carrying case, both of which are nice additions when it comes to keeping the Fire Bowl well protected from the elements. Lightweight, easy to set up and use, and affordable, the Outland Fire Bowl is an excellent option for those who want a fire pit without having to deal with the actual fire. While it isn't as versatile as some of the wood-burning options on this list, it does its job very well.  Best portable fire pit Snow Peak When it comes to portability, the Snow Peak Pack & Carry Fireplace is our go-to option. This model is lightweight and collapses down for ease of transport while offering excellent durability and performance wherever you take it. Pros: Lightweight and collapsible, the Snow Peak Fireplace is very easy to transportCons: Limited features out of the boxMost companies that manufacture fire pits don't take into account weight and portability when designing them. After all, the vast majority of these products will be installed in a backyard and likely aren't moved very far after that. But if you do happen to need a fire pit that you can take with you, you're in luck. Snow Peak's Pack & Carry Fireplace is exactly what you're looking for. Snow Peak is a Japanese outdoor brand that is well known for making clever and well-built products for camping. The Fireplace is a perfect example of this, as it features a design that is both simple and brilliant at the same time. This fire pit actually has the ability to collapse down and fold flat, which makes it extremely easy to carry with you to any outdoor setting. And since it weighs just 11.9 pounds and comes with its own carrying case, there really isn't any excuse to leave it behind.Once you reach your destination, the Fireplace expands back into its regular shape in a matter of seconds, with wide, rounded-off legs securely holding it in place even when resting on uneven terrain. A series of small holes in the fire pit's frame help to facilitate airflow, while its bucket-like receptacle can hold moderate-sized pieces of wood. Because it has a wide opening, visibility is great from all angles, and adding more wood to the fire is safe and easy.Despite its ability to collapse flat, the Fireplace is well-engineered and very durable. Made from high-quality stainless steel, this model is designed to withstand the elements and be transported from one location to another on a regular basis. Because it is made of rugged metal, however, it does take a bit of time to cool down after the party is over.Out of the box, the Fireplace doesn't have a lot of features or frills, although Snow Peak makes a number of accessories that extend its use even further. The company offers an array of cooking utensils for instance, and a grill top allows owners to cook over the fire. Without spending extra money on those add-ons, however, this model isn't quite a versatile as some other options.  Best budget fire pit Amazon Sturdy and durable, the no-frills Kingso Outdoor Fire Pit is affordable enough that anyone can add one to their backyard.Pros: Attractive, inexpensive, and comes with some handy accessoriesCons: Not weather-resistant, requires some assembly, not a lot of frillsWho says you need to spend a lot of money to get a quality fire pit for your backyard? The Kingso Outdoor Fire Pit may not have all of the bells and whistles found on the other models on this list, but it is durable, good-looking, and gets the job done. It also happens to be so affordable that it won't do much damage to your wallet. Even though this model is priced surprisingly low, the Outdoor Fire Pit isn't entirely without its amenities. Kingso does ship this model with a mesh cover that prevents sparks from escaping the flames without obstructing the view in any way. It also comes with a metal poker that makes it easy to safely remove that lid and adjust logs while the fire is going. Lightweight and relatively compact, the Outdoor Fire Pit is made of rugged, heat-resistant steel. This makes it easy to move around or even take with you on a camping trip should you choose. Sadly, however, the metal used in its construction is not particularly well suited for resisting the elements. In fact, the manufacturer recommends that you take it inside when not in use in order to avoid rusting. This model isn't fully assembled out of the box, although it doesn't take particularly long to put it together. Once all of the parts are locked firmly into place, the fire pit proves to be very stable, even on uneven ground. Its 22-inch bucket can hold a surprising amount of wood and can comfortably accommodate a small gathering of people. That said, this unit is a bit smaller than the others on this list, which makes it a good choice for those with a smaller deck or patio. The real selling point of this particular model is without a doubt the price. For less than $60 you can own a reasonably well-made, portable, and attractive fire pit. While not as well constructed or feature-rich as more expensive options, as long as you're aware of its limitations going in, the Outdoor Fire Pit is a good buy.  Fire pit safety tips You should always take proper care when starting a fire, as well as putting one out. We strongly advise against using any of these fire pits if you lack the experience and recommend consulting an expert before using them.You should also double-check where you can and can't start a fire, be it in a residential setting or while camping. Not all campgrounds allow fires but in those that do, it's important to understand the guidelines. It doesn't hurt to take note of Smokey Bear's fire safety rules, either. FAQs How do you clean a fire pit?It's important that you first wait until your fire pit is completely cooled off before attempting to clean any part of it. Ideally, you'd clean it on a day when you haven't used it at all.Actually cleaning the pit is a straightforward process. First, unhook any propane tanks or unplug any cords, and then remove all ash, burned wood, and debris from inside. You can then use some dishwashing soap (the grease-cutting kind tends to work best) and a warm cloth or scrub brush to scrub the inside of the pit. It's recommended you wear some kind of protective gloves, and be careful not to get any electronics wet in the process. Let the fire pit fully dry (especially for those that plug into a wall or use some sort of battery) before using them again. Fire pits that just use wood can be used immediately.How do you put out a fire in a fire pit?If you're using a fire pit that burns actual wood, you'll want to make sure you effectively extinguish the blaze before leaving it. To do so, douse the flame with water and stir the ashes with a poker or stick. You should see the coals start to cool off. If they're still lit (and the pit still feels warm), pour more water over them. Don't leave the pit until it's entirely cooled off. For propane fire pits, many just require you to turn off the propane (or turn off the pit via a built-in switch) and they'll completely turn off. Check the owner's manual for proper operation as some may differ from others. You'll always want to have some sort of emergency extinguisher nearby should any fire get out of control, too. This could be anything from a bucket of water set somewhere close, a nearby hose turned on and ready to use, or even a fire extinguisher. If a fire becomes unruly, call 911 immediately. What should I look for in a fire pit?While the concept of a fire pit has been around for centuries, modern versions elevated the concept to new heights. Thanks to a blend of innovative engineering and thoughtful design, today's fire pits not only look great but are highly functional, too. Strategically placed vents, air holes, and tubes make starting a fire easier than ever, while at the same time channel away excess smoke. This makes for a much more enjoyable experience for everyone involved, while allowing you to walk away without the smell of smoke on your clothes or in your hairModern fire pits come in all shapes and sizes, too, ranging from small, portable, wood-burning models, up to massive propane-powered structures permanently installed on a patio. No matter which size or model you choose, it's likely to become the centerpiece of your outdoor space anytime a fire is lit. It also provides plenty of heat and light, allowing you to enjoy being outdoors even during the colder times of the year.Some fire pits even make excellent grills, allowing you to cook entire meals over a flame. But most important of all, they're a safe way to enjoy a bonfire in your backyard, without fear of the fire getting out of control.  How we test fire pits Each fire pit featured in this guide went through a series of tests to see how it compared across these four categories: Ease of use, versatility, design, and value. Specifically, here's how each category factored into which fire pits we ultimately included:Ease of use: If you're unable to easily start a fire, what good is a fire pit really? While no fire pit is as easy as snapping your fingers, some are designed not just for easy fire starting but also in keeping the flame lit and full for several hours. If it feels like a chore to get it lit and to stay burning, you're less likely to want to use it very often.Versatility: A fire pit's sole job is to, well, be a fire pit but there are some (i.e. BioLite's aptly named, FirePit) that come with additional functionality such as being able to throw a grill on them and barbecue some food or pack down small enough to be portable enough for camping trips. Of course, we still considered home-specific fire pits that excelled at their lone purpose but did make not of multi-faceted options where necessary.Design: The design of a fire pit affects which models made this guide in a number of ways. First, a poor design could mean that the fire may burn out more quickly or that it doesn't quite ration the wood as well. A bad design can also just be an eye-sore, and if it's something you're looking to keep in your backyard, it's likely you prefer one that not only maintains fire but looks good doing it.Value: Value is the sum of the categories above, as well as some attention toward its actual price. Though it's ideal to not have to spend a fortune on a simple fire pit, it's smart to invest in something that's premium and high quality as opposed to spending less money more often on a cheaply-built model.  Read the original article on Business Insider.....»»

Category: topSource: businessinsiderOct 18th, 2021

TC Energy (TRP), Nikola Team Up for Development of Hydrogen Hub

TC Energy (TRP) and Nikola's Energy business unit are closely working to develop projects for building a perfect infrastructure to supply low-cost and low-carbon hydrogen at volume. TC Energy Corporation TRP along with electric truck manufacturer Nikola Corporation NKLA recently decided to team up on the co-development, construction, operation and ownership of large-scale hydrogen production centers in the United States and Canada.In line with each company's primary goals, Calgary, Alberta-based TC Energy and Nikola's Energy business unit are coordinating on ways to develop projects to create an infrastructure necessary to supply low-cost and low-carbon hydrogen at volume. Also, both firms intend to build hubs in major geographic regions to expedite the adoption of heavy-duty zero-emission fuel cell electric vehicles (FCEVs) and hydrogen across all industrial segments.A primary aim of this partnership is to construct sites capable of generating more than150 tons of hydrogen daily across heavily trafficked truck corridors to meet Nikola's anticipated requirement of hydrogen for fueling its Class 8 FCEVs over the next five years.TC Energy has extensive pipeline, storage and power assets that may be used in reducing the expense and improving the speed of supply of these hydrogen-production centers. This could involve evaluating the integration of midstream assets to allow pipeline-based hydrogen distribution and storage as well as delivering carbon dioxide to permanent sequestration sites for decarbonizing the hydrogen generation process.The company, which shares the same industrial space with Suncor Energy Inc. SU and Enbridge Inc. ENB, believes along with Nikola that hydrogen can be generated by utilizing natural gas, renewable natural gas and biomass feedstocks in combination with carbon capture and storage to achieve net-zero carbon intensity over time.TC Energy is committed to its own carbon-reduction initiatives while becoming the carbon-free energy source of choice for the North American industrial, natural gas and oil sectors.Established in 1951, TC Energy is a premier energy infrastructure provider in North America. The company is primarily focused on natural gas transmission through its 57,500-mile network of pipelines located in Canada, the United States and Mexico. It is also involved in other businesses including power generation, natural gas storage and crude oil pipelines. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Suncor Energy Inc. (SU): Free Stock Analysis Report Enbridge Inc (ENB): Free Stock Analysis Report TC Energy Corporation (TRP): Free Stock Analysis Report Nikola Corporation (NKLA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksOct 15th, 2021

Phillips 66 teams up with hydrogen fuel cell co. Plug Power

Latham, New York-based Plug Power, a fuel cell and electrolyzer manufacturer, will benefit from Houston-based Phillips 66's fuel marketing experience in the United States and Europe as well as its background developing and operating large hydrogen-production plants......»»

Category: topSource: bizjournalsOct 14th, 2021

EV Roundup: F"s $7B Investment, TSLA"s Q3 Deliveries, GM"s EV410 Reveal & More

Ford's (F) $7-billion outlay on two new EV campuses in Tennessee and Kentucky grabs headlines. Meanwhile, General Motors (GM) unveils EV410 van and Tesla (TSLA) delivers 241,300 vehicles in Q3'21. With the electric vehicle (EV) revolution gathering pace with each passing day, legacy automakers are stepping up e-mobility investments and setting ambitious targets to electrify their fleet. Pure-play EV players are fast filing IPOs to capitalize on the rising electrification trends.Last week, Sweden-based EV maker Polestar announced plans to go public via a merger with a special purpose acquisition company (SPAC), Gores Guggenheim, at an enterprise valuation of around $20 billion. The SPAC deal will provide Polestar with cash proceeds of more than $1 billion, which would help the company roll out three new models in the market in the next three years. EV startup Rivian, which commenced deliveries of its R1T truck last month — released its IPO filing on Friday. What caught the most attention was the fact that the company is burning cash and reeling under losses. It incurred a net loss of $994 million in first-half 2021 versus $377 million in the corresponding period of 2020.Meanwhile, EV behemoth Tesla TSLA released its delivery count for the third quarter of 2021. During the three months ended Sep 30, the company delivered 241,300 vehicles (comprising 232,025 Model 3/Y and 9,275 Model S/X). Tesla currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.China-based EV players including NIO Inc. NIO, XPeng XPEV and Li Auto LI also provided September and third-quarter 2021 delivery updates. NIO’s third-quarter deliveries grew 100.2% year over year to 24,439 vehicles. Sales for the month of September increased 125.7% to 10,628 units (comprising 1,978 ES8s, 5,260 ES6s and 3,390 EC6s). XPeng witnessed record deliveries of 25,666 units in the third quarter, skyrocketing 199% year over year. The company delivered 10,412 Smart EVs for the month of September. Li Auto delivered 25,116 vehicles during the quarter, reflecting a surge of 190% year over year. In September, 7,094 Li ONEs were delivered, up 102.5% year over year.Recap of the Week’s Most Important Stories1. Ford F announced plans of building two new environment-friendly and technologically advanced campuses in Tennessee and Kentucky that will produce the next generation of electric F-Series trucks as well as batteries to power the future electric Ford and Lincoln vehicles. The U.S. auto giant will partner with SK Innovation, and the firms will together invest $11.4 billion (with Ford’s share being $7 billion) for the same. Roughly $5.6 billion of the investment will be used for building an all-new mega campus called Blue Oval City in Stanton. Another $5.8 billion will be allocated toward the development of a 1,500-acre BlueOvalSK battery manufacturing campus in Glendale. (Ford to Transform EV Future in U.S. Via $11.4B Investment)2. General Motors’ GM commercial EV business — BrightDrop — announced plans to add a second van, the EV410, to its vehicle line-up in 2023. Verizon Communications, one of the largest fleet operators in the United States, is scheduled to be the first customer of the EV410. Apart from this, BrightDrop also announced the completion of the first production builds of the EV600. The EV600, unveiled this January, is BrightDrop’s first all-electric light commercial delivery van equipped with General Motors' next-generation Ultium battery system, having an estimated range of up to 250 miles on a full charge. (General Motors' BrightDrop Unveils EV410, Completes EV600 Build)The U.S. auto biggie also announced plans to power all its U.S. sites with 100% renewable energy by 2025 — five years earlier than previously announced and 25 years ahead of its initial target of 2050 that was set in 2016. With this move, General Motors aims to evade 1 million metric tons of carbon emissions that would have been otherwise produced between 2025 and 2030. (General Motors to Procure 100% Renewable Energy in US by 2025).In another development, General Motors unveiled Ultifi, a new end-to-end software platform in vehicles starting from 2023, built to unleash new vehicle experiences and seamlessly integrate customers’ digital lives. 3. Lordstown RIDE announced that it has inked an agreement with Foxconn to work together on scalable EV programs. Per the deal, Foxconn would buy the Lordstown assembly plant in northeast Ohio for $230 million and manufacture the latter’s first product, an all-electric full-size pick-up truck called the Endurance. The partnership will open up greater market opportunities for both Lordstown and Foxconn to rev up EV production in North America. Lordstown also issued an update on its 2021 financial guidance. While the capex estimate remains unchanged in the $375-$400 million band, SG&A expenditures are now projected at $105-$120 million, up from $95-$105 million expected earlier. R&D expenditures are now forecast within $320-$340 million, up from the previous projection of $310-$320 million. (Lordstown Gets a Breather With Foxconn Deal, Tweaks ’21 View)4. Nikola Corporation NKLA announced a second $300-million capital raise deal with Tumim Stone Capital, providing the former the right to issue and sell to Tumim up to $600 million of Nikola's common stock in aggregate. Per the second equity line purchase agreement, Nikola has the right but not the obligation to sell up to $300 million of additional shares of its common stock to Tumim, subject to certain limitations. The shares will be issued at a 3% discount to the three-day forward volume-weighted average price from the date a purchase notice is issued. The second equity line purchase agreement is a financing tool that allows Nikola to enhance its liquidity while giving considerable flexibility as the company ramps up production milestones next year. (Nikola Inks 2nd Deal With Tumim to Sell Up to $300M Stock).In another development, Nikola inked a deal with OPAL Fuels to jointly establish hydrogen fueling stations and related infrastructure to rev up the adoption of heavy-duty emission-free fuel-cell EVs.5. Allison Transmission Holdings ALSN announced that its next-generation electric hybrid propulsion solution, eGen Flex, will be offered by New Flyer Industries Canada ULC and New Flyer of America Inc. in early 2022. The eGen Flex system has the capacity of a full electric drive for up to 10 miles and can do away with engine emissions, and noise generated at the time of boarding and de-boarding of passengers in congested areas as well as in zero-emission demarcated zones, thus ensuring a calm surrounding. (Allison's eGen Flex to be Offered by New Flyer in 2022).In a separate news, Allison also entered into a memorandum of understanding with SAIC Hongyan, per which, it will deploy its eGen Power 130D e-Axle into the China-based automaker’s regional and long-haul tractors.Price PerformanceThe following table shows the price movement of some of the major EV players over the past week and six-month period.Image Source: Zacks Investment ResearchIn the past six months, all stocks have decreased, apart from Li Auto. Lordstown Motors bore the maximum brunt, with shares declining 43.6%. In the past week, Lordstown, Canoo, Nikola and Arcimoto lost value, with Canoo being the worst performer.What’s Next in the Space?Stay tuned for announcements of upcoming EV models and any important updates from the red-hot industry. Investors are awaiting General Motors’ analyst day to be held on Oct 6, wherein the U.S auto biggie is set to provide key tidbits regarding its e-mobility momentum. Also, watch out for September EV sales in China, set to be released by the China Association of Automobile Manufacturers later this week.  5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ford Motor Company (F): Free Stock Analysis Report General Motors Company (GM): Free Stock Analysis Report Tesla, Inc. (TSLA): Free Stock Analysis Report Allison Transmission Holdings, Inc. (ALSN): Free Stock Analysis Report NIO Inc. (NIO): Free Stock Analysis Report Nikola Corporation (NKLA): Free Stock Analysis Report Li Auto Inc. Sponsored ADR (LI): Free Stock Analysis Report XPeng Inc. Sponsored ADR (XPEV): Free Stock Analysis Report Lordstown Motors Corp. (RIDE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksOct 4th, 2021

Charging Up Your Portfolio with Electric Vehicles

Whether its the government, Wall Street investors or even traditional automakers; everybody is seeing tremendous potential in EVs. Ben Rains will show you how to capitalize on this burgeoning space, which grew over 160% worldwide in the first half of 2021. The U.S. Senate passed a $1 trillion bipartisan infrastructure bill in early August, with billions set to flow into various sectors, from more traditional areas such as roads to modern green energy initiatives. The clean energy efforts are part of a larger push within the U.S and other wealthy nations to speed up the transition away from fossil fuels throughout every corner of the economy.The green energy age isn’t complete without electric vehicles (EVs) dominating streets and highways, and the U.S. still has miles of road to travel in order to get there.Washington’s Focus on EVs The White House and Washington have put a spotlight on electric vehicles as part of a longer-term greener movement. President Biden signed an EV-focused executive order in August that hopes to spur rapid adoption. The non-binding goal aims to have all-electric, hydrogen-fuel cell, and plug-in hybrid vehicles make up 50% of U.S. sales by 2030.In order to reach this voluntary benchmark, automakers called for federal support for EV charging stations, various consumer tax incentives, and other pro-electric initiatives. Elsewhere, the Senate’s $1 trillion bill allots $7.5 billion for states and municipalities to build EV charging stations. The legislative effort also includes over $6 billion in grants for battery production, development, and recycling.The projected funding is less than President Biden called for in March when his administration set a goal of building 500,000 public chargers by 2030. There are currently roughly 48,000 public EV charging stations and over 120,000 charging ports in the U.S., according to U.S. Department of Energy data.These levels don’t come close to supporting rapid EV adoption. Federal, state, and local governments must work with automakers, charger technology companies, and various other stakeholders in order for EVs to start driving American automotive sales anytime soon.Despite all of the hype, the U.S. and the world has barely scratched the EV surface. The nascent nature provides plenty of profitable investment opportunities if you know where to look...Continued . . .------------------------------------------------------------------------------------------------------Zacks’ Top Infrastructure Picks (Grab These for Q4 and Beyond)Our research has identified 5 stocks that are set to surge due to the massive new infrastructure bill. This is the largest bill of its kind in decades, giving investors a chance at tremendous gains.Zacks’s just-updated special report, How to Profit from Trillions in Spending for Infrastructure, is designed to help you profit from the most promising “American Upgrade” stocks. Some infrastructure stocks have recently soared as much as +81%... +150%... even +248%.¹ The stocks in this report could be just as lucrative. Don't delay: this Special Report is only available until Sunday, September 26.See 5 Top Infrastructure Stocks Now >>------------------------------------------------------------------------------------------------------The Current EV Market Gasoline-powered vehicles remain by far the most popular means of transportation. Electric vehicles made up only 2% of U.S. sales last year and expanded to a little over 3% in recent months. Limited market share is part of the reason why Wall Street is excited even if the electric/hybrid space doesn’t get close to 50% market share by 2030.Tesla proved there’s demand for EVs in the U.S. and its success on the road and in the stock market forced every established auto company to go all-in on electric. Plus, plenty of newcomers, some of which are publicly traded, are ramping up production on sleek new EVs of all shapes and sizes. It will be difficult to recreate Tesla’s meteoric run, but a few standout startups are starting to make their case.Most major automakers plan to offer many of their current models as EVs within the next decade, while rolling out EV-only cars, SUVs, and trucks. Established auto titans, perhaps ambitiously, aim to generate upwards of 50% of global sales from EVs by 2030.One historic firm is revamping its entire business around EVs. The company said earlier this year it aims to have 40% of its global volume be all electric by 2030 and it expects to spend more than $30 billion on electrification during this stretch. The firm’s early efforts have already paid off in terms of actual sales and its surging stock price.Auto giants in both luxury and mass markets will start eating away at Tesla’s current dominance. There are plenty of reasons to believe this could happen somewhat quickly. A few select stocks will capture a budding corner of the EV market Tesla has little chance of controlling. The ability to meet the coming demand from commercial customers such as contractors, construction companies, police departments, and other government fleets is set to boost a few well-known companies in particular.Where’s the Money  New light-vehicle sales in the U.S. are set to climb around 13% to reach 16.3 million in 2021. EV sales are projected to blow away the broader industry-wide expansion. For instance, global EV sales already skyrocketed over 160% in the first half of 2021 against a pandemic-hit period.Tesla led the charge, accounting for about 14% of the global market during this stretch, but its share slipped compared to last year. A few global automakers are already in Elon Musk’s rearview mirror despite the huge head start, while smaller, highly affordable brands are dominating EV sales in China and other Asian nations.Along with investing in pure-play electric vehicle companies, Wall Street and the industry are pouring money into the technology side of the business. This is vital since EVs rely heavily on interconnected technology, remote software updates, high-tech touch screens, and much more. One firm in September poached a former Tesla executive from Apple—which has its own EV aspirations—because EVs are closer to supercomputers on wheels than traditional cars.EVs will also provide automakers with more consistent revenue streams, via remote monitoring, constant software updates, and other futuristic maintenance necessities. And it’s hardly just the automakers who stand to benefit. Smaller tech companies are already profiting from advanced radar navigation and more, and many are hot acquisition targets. Batteries and Chargers  EV motors are clearly essential cogs, but high-tech batteries are perhaps the most vital components. Continued progress on the energy storage and range fronts will help determine how quickly the market can grow.Wall Street is also laser-focused on lithium, with the commodity making a case to become a “new oil.” Lithium-ion batteries are already used in most portable consumer electronics such as smartphones, and nearly all electric vehicles run on rechargeable lithium-ion batteries.From startups to Tesla, companies are working on next-generation battery technologies, including solid-state batteries and new cell formats. Like many cutting-edge industries, there are likely game-changing batteries coming down the pike soon that few will have imagined possible.Alongside batteries, an EV-heavy future is only possible if consumers can drive anywhere they normally would or make that same big road trip, without needing to plan their route around chargers. EV chargers are often classified in three categories: Level 1, Level 2, and Level 3 or DC fast chargers. The first two are common for home-based charging, while the fittingly named Level 3 fast chargers require as much as $100,000 or more per station in upfront capital.There are over 100 EV charging companies in North America alone. Firms able to create faster chargers that mimic speeds closer to filling up a tank of gas will be surefire superstars, while companies able to roll out the most chargers, akin to gas stations, could become stable green energy players for decades.5 Stocks to Electrify Your Portfolio Electric vehicles and EV-related technologies are some of the most promising spaces investors can target for long-term gains. Consumers are demanding more electric options and manufacturers are rising to the occasion.And as discussed above, the government is driving hard toward a clean energy future. The infrastructure bill passed by the Senate last month could earmark billions of dollars to make EVs even more accessible – and you might be surprised at which stocks might benefit most.To help you make the most of this opportunity, Zacks has just updated our special report, How to Profit from Trillions in Spending for Infrastructure.The report reveals 5 stocks primed for big price moves, including an EV stock no one is thinking about. The company has a new CEO, a new focus on cutting edge tech and earnings that are projected to skyrocket 300%.I encourage you to check out the 5 stocks right away. The infrastructure bill could be a powerful catalyst, but these companies are strong enough to deliver significant gains on their own.Don’t delay. This Special Report is only available until Sunday, September 26.Click here to claim your copy of How to Profit from Trillions in Spending for Infrastructure >>Good Investing,Ben RainsStock Strategist¹ The results listed above are not (or may not be) representative of the performance of all selections made by Zacks Investment Research's newsletter editors and may represent the partial close of a position.  Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 24th, 2021

Fossil Fuel Companies Say Hydrogen Made From Natural Gas Is a Climate Solution. But the Tech May Not Be Very Green

But the tech may not actually be very green As a committee of climate scientists and environmental officials deliberated over how to drastically cut New York State’s carbon footprint last summer, natural gas industry representatives were putting forward a counterintuitive pitch: hydrogen, made from fossil fuels. The concept was simple, explained natural-gas proponents serving on the state’s climate-action council. Industrial hydrogen suppliers had long used a process called steam methane reforming (SMR) to produce what the industry calls “gray” hydrogen from natural gas—a system that accounts for 95% of all current hydrogen production, but releases large amounts of carbon emissions. Emissions-free “green” hydrogen can be produced using water and renewable electricity, but that tends to be more expensive than making gray hydrogen. The solution, gas-industry representatives said, was to pursue a kind of carbon compromise. Instead of making expensive green hydrogen, industrial gray hydrogen facilities could be outfitted with carbon capture systems that buried their emissions underground. Voila: A new color in the hydrogen rainbow—safe, clean, abundant “blue” hydrogen to power the economy of the future. [time-brightcove not-tgx=”true”] Bob Howarth, a Cornell University climate scientist serving on the N.Y. State carbon-drawdown committee, decided to look into the gas industry’s arguments. “I’m not surprised that people in the natural gas industry are trying to suggest ways that they keep their industry alive,” he says. “But I was skeptical.” Together with Mark Jacobson, an atmospheric scientist at Stanford University, Howarth set out to document the full emissions picture arising from blue hydrogen production. The results, published Aug. 12 in Energy Science and Engineering, were striking. According to Howarth and Jacobson’s calculations, capturing SMR carbon emissions uses so much energy and results in so much extra leakage of methane—another greenhouse gas that has many times more warming potential than carbon dioxide—that any possible CO2 emissions benefit is nearly canceled out, leaving in place a process that produces about 90% of the emissions of making grey hydrogen. Blue hydrogen is so dirty, in fact, that it’s worse for the climate than burning natural gas for heat in the first place, the researchers found. But in the meantime, blue hydrogen’s proponents were hard at work. Backed up by industry-funded reports, lobbyists had been pushing blue hydrogen to governments around the world, and the governments were listening. The E.U. released a strategy last summer that proposed expanding blue hydrogen production over the next decade. In the U.K., bureaucrats were crafting a national “hydrogen strategy,” released last month, that gives ample support to blue hydrogen development. In the U.S., legislators are currently negotiating a trillion-dollar infrastructure package that, in its current form, would allocate $8 billion to develop so-called “clean” hydrogen, much of it using fossil fuels. To some extent, Howarth’s work had come too late. “Industry marketing is way out ahead of scientific research and policy sometimes,” he says. That’s nothing new. From claims that natural gas could be a “bridge” to lower emissions, to promises of decarbonization through “clean coal,” pie-in-the-sky propositions from the fossil-fuel industry have been a feature of climate policy discussions for years. Now, with worldwide political will finally coalescing around an urgent imperative to draw down carbon emissions, natural-gas producers like Shell and BP and distributors like Engie have allied themselves with companies like Air Liquide that have long produced SMR hydrogen to promote blue hydrogen—which looks clean from certain angles, but from others, appears as CO2-intensive as other fossil fuels—as the future of the energy industry. Industry groups say blue hydrogen will be critical to meeting the world’s climate goals, and can be part of a broad strategy to reduce the world’s greenhouse gas emissions by 2050. But some scientists and experts say the hydrogen industry’s real purpose is to preserve the value of its natural-gas resources and distribution systems under the cover of climate stewardship, locking the world into a technology that will release yet more methane and CO2 emissions for decades to come. For those of us who have gotten used to seeing hydrogen in the context of sleek concept cars, it can be surprising to learn that large-scale hydrogen production has been around for more than a century. Hydrogen became particularly useful after the early 20th century invention of the Haber process, which combines the gas with nitrogen in the atmosphere to produce ammonia, a compound valuable for its use in fertilizer and explosives. U.S. fossil-fuel companies began operating SMR plants to make hydrogen from natural gas in the 1930s, and the industry grew over the following decades. Oil refineries also use hydrogen to remove sulfur from crude oil, with many refineries currently producing their own hydrogen on-site from natural gas. About 6% of the world’s natural gas (and 2% of coal, through another carbon-intensive process) is currently used to produce hydrogen, emitting 830 million metric tons of carbon dioxide per year, according to the International Energy Agency. In all, hydrogen production accounts for about 2% of all the world’s carbon emissions. But when used as a fuel, hydrogen has an environmental advantage over fossil fuels: burning hydrogen releases nothing but water vapor. Amid rising public concern over climate change in the early 2000s, hydrogen underwent a PR renaissance. No longer was it just a dirty industrial feedstock—now it was the fuel of the future. Though most hydrogen at the time was produced using SMR, experts knew large amounts of it could, in theory, be extracted from water using solar or wind power. And though the sun doesn’t always shine and the wind doesn’t always blow, the hydrogen fuel made using those resources could be transported anywhere and used any time, essentially acting like a portable battery to store renewable energy. “Hydrogen fuel cells represent one of the most encouraging, innovative technologies of our era,” said U.S. President George W. Bush in 2003 while announcing a $1.2 billion federal initiative to launch a fledgling hydrogen sector. Promises of a “hydrogen economy” that would see fossil fuels phased out in favor of the lightest element to power everything from stove-top burners to trucks abounded. But hydrogen’s golden hour, particularly in the automotive sector, was to be short lived. In 2009, the new Obama Administration energy secretary and Nobel Prize-winning physicist Steven Chu publicly lambasted the idea of a fleet of hydrogen-powered cars, saying the technology wasn’t progressing fast enough, and tried to cut government research funding. Congress restored those funds, though the Energy Department succeeded in making deep hydrogen cuts two years later. The next decade saw hydrogen’s prospects further decline. While hydrogen-powered vehicles from the likes of Toyota were beset by cost problems and difficulties building out fueling infrastructure, the battery-electric sector took off, with industry newcomers like Tesla selling half a million cars a year by the end of the next decade. Seeing which way the wind was blowing, other automakers like GM and Nissan quietly backed off hydrogen passenger car projects (though GM has continued to invest heavily in fuel cells for larger commercial vehicles). But hydrogen stalwarts weren’t going down without a fight. In the late 2010s, fossil-fuel companies, automakers, natural-gas grid operators and legacy SMR hydrogen companies, among others, began promoting a new narrative: Hydrogen, they said, was essential to a green-energy transition. “Green” hydrogen made from renewable energy would supply some of the power demand. The “blue” variety, made from natural gas, would make up the rest, with carbon-capture-and-storage technologies mitigating its emissions. That blue hydrogen narrative is largely descended from previous industry hype cycles around so-called “clean coal,” says Jan Rosenow, European Programme Director for the Regulatory Assistance Project, a nonprofit that helps governments implement green-energy goals. Those projects, launched in the 2010s, were largely based on the notion that coal-fired power plants would use carbon-capture equipment to bury their emissions underground—but they ultimately foundered, resulting in costly, federally-funded failures within a few years. After that, Rosenow says, industry switched tack to promoting natural gas as a low-carbon transition fuel, a push that drew environmental outcry over methane leaks along the gas-supply chain. Fossil-fuel companies, Rosenow says, needed a new option. “That’s where the whole discussion around hydrogen comes from,” he says. As China began to cash in on a green-tech manufacturing boom in the late-2010s, European governments eager to dominate a nascent hydrogen sector proved a receptive audience for industry pitches. In 2020, the non-profit watchdog group Corporate Europe Observatory released a report pointing out what it said were worrying signs of industry influence in the E.U. hydrogen strategy. “The bodies being created by the E.U. like the European Clean Hydrogen Alliance are completely industry dominated and industry driven,” says Pascoe Sabido, a researcher at Corporate Europe Observatory. “I don’t know if I’d even call it lobbying—this is the E.U. putting industry in the driving seat.” He frames the hydrogen push as an attempt by fossil fuel companies to shift a coming green energy transition to suit their own interests, pointing to their involvement in hydrogen industry groups like the Hydrogen Council and Hydrogen Europe. The secretariats of both organizations were previously managed by FTI Consulting, a consulting firm that garnered controversy last year over its role in setting up groups like Texans for Natural Gas and the Main Street Investors Coalition as part of a fossil fuel industry influence campaign. Then Bob Howarth and Mark Jacobson came out with their report last month, further sandbagging the blue hydrogen airship. Industry groups representing SMR producers, fossil-fuel companies and other hydrogen players contest their findings, pointing to their own reports, which argue that the technology can produce energy at an emissions cost 80% to 90% lower than pure fossil fuels. Daryl Wilson, executive director of the Hydrogen Council, an industry consortium, argues that Howarth’s blue hydrogen report would have come up with lower methane leakage rates if it had looked only at wells that were following industry best practices. But Howarth says there is little evidence that many in the industry actually operate that way. (Satellite imaging in recent years has found alarming gas leakage from wells and pipelines around the world.) In their calculations, he and Jacobson used the average methane leakage rate across the U.S. natural gas industry, a number they say better reflects real-world conditions. Right now, there are only a handful of blue-hydrogen facilities around the world, but governments are preparing subsidies and investments that, if enacted, will lead to the construction of many more. Chris Jackson, a green-hydrogen entrepreneur who resigned as chair of the U.K. Hydrogen and Fuel Cell Association earlier this month over the group’s inclusion of blue-hydrogen proponents, worries that fossil-fuel companies have once again hijacked the green-energy conversation. “Is it really appropriate and right that limited government resources from the public, which are meant to be supporting genuine net-zero technologies, should instead be spent on essentially allowing oil and gas companies to continue to operate the way they do today?,” Jackson says. Plans for new blue-hydrogen facilities, he says, don’t make sense from either an environmental or economic perspective. “You’re putting in infrastructure that’s going to take you five years to build and going to be there for 20 years. Everyone should be asking themselves: ‘if this is an asset…in the middle of 2040, [is it] still going to make sense to be running?’ And if not, you have to ask the question right now: ‘why are you building it?'” Even some with optimistic views of blue hydrogen don’t see why the public should support new facilities. Dolf Gielen, director of the International Renewable Energy Agency’s Innovation and Technology Centre in Bonn, Germany, generally supports blue hydrogen, but disagrees on the question of government assistance. “If blue hydrogen means you add some [carbon-capture equipment] to an existing [methane] reformer facility, why not?” says Gielen. “It’s a different question whether governments should subsidize new blue hydrogen.” Others say it makes little sense to invest limited government funds in a technology that only promises to reduce carbon emissions, rather than eliminate them completely. “We’re talking about 100% reductions in emissions to get to net zero,” says Rosenow, of the Regulatory Assistance Project. “In that context, there isn’t any space for just an 80% reduction. And that’s what blue hydrogen would probably deliver.” In the massive, unthinkably complex task of replacing every boiler, automobile, locomotive, cargo ship, and airplane with a carbon-free alternative—indeed, of tearing out just about every piece of machinery installed over the past hundred years—planners, corporations, governments and citizens generally have two options for what sort of system should take their place: hydrogen or electric. Hydrogen has a high-energy density, which means it would theoretically be lighter, making it good for airplanes, long-haul trucks, and for creating especially high temperatures, like those needed to produce essential materials like steel. But because you lose a lot of energy converting electricity into green hydrogen, and because it requires new infrastructure, electricity is better for smaller scale uses like heating buildings and powering cars. But some industry players are still trying to make hydrogen happen for all sorts of energy uses. Toyota, for instance, has continued what some green energy analysts consider to be a quixotic quest to popularize hydrogen cars, even going so far as to lobby against fuel efficiency rules and gasoline car phase-out requirements around the world that would benefit its battery-electric rivals. European gas companies have sought to show the world that homes can be heated with hydrogen, while industry consortiums push a vision of continent-wide hydrogen distribution networks both to supply gas for industry, and to replace natural-gas home-heating systems. Wilson says such initiatives have a place in an overall decarbonization strategy, and that they could be supplied by both blue and green hydrogen. “The optimized answer for transport and heating will vary region to region,” he says. “There is no ‘one size fits all’ answer here.” Of course, it’s hard to know for sure; a clear idea about the benefits of blue hydrogen would require spending a few decades and many billions of dollars building the infrastructure necessary to test it. But if blue hydrogen doesn’t pan out, we might be wishing we could go back in time and think a bit harder about investing in that technology now. As for the vast new hydrogen economy it’s intended to supply, many experts say hydrogen-fuel-cell cars are a dead end, with insurmountable cost barriers compared to battery cars, and opponents have characterized hydrogen-based home-heating plans as a gambit intended to extend the life of the gas industry through a vast expenditure of public resources. “The science demands that we keep fossil fuels in the ground,” says Sabido, of the Corporate Europe Observatory. “If we started from that point, [fossil-fuel companies] wouldn’t have a business model. So they’re doing whatever they can to ensure…that the assets they currently have on their books still have value.”.....»»

Category: topSource: timeSep 22nd, 2021

Plug Power hydrogen fuel cell systems to power new Home Depot facility

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

Category: blogSource: theflyonthewallFeb 9th, 2021

Honda kills the Clarity Electric vehicle as sedan sales continue to struggle

Honda has discontinued the Honda Clarity Electric vehicle. The company will continue to sell the hydrogen fuel-cell and plug-.....»»

Category: topSource: usatodayMar 9th, 2020

A new electric pickup truck with a longer range than Tesla"s Cybertruck will beat the hotly anticipated EV to market — check out the Badger

Nikola Nikola Corporation has unveiled the Badger, the automaker's first electric pickup truck. The Badger has a maximum range of 600 miles by using both a hydrogen fuel cell and battery power sources. Nikola also announced that it i.....»»

Category: topSource: businessinsiderFeb 11th, 2020

Honda, Isuzu power up fuel cell partnership for heavy-duty trucks

Japan's Honda Motor Co and Isuzu Motors Ltd on Wednesday said they would jointly research the use of hydrogen fuel cells to power heavy-duty trucks, looking to expand fuel cell use by applying the zero-emission technology to larger vehicles......»»

Category: topSource: reutersJan 15th, 2020

Future cars: Toyota doubles down, Dyson gives up

Different visions of future mobility: Toyota doubles down on hydrogen fuel cell vehicles, but James Dyson pulls the plug on plans for an electric car. Julian Satterthwaite reports......»»

Category: videoSource: reutersOct 11th, 2019

Soaring Gas Prices: Best State To Switch To An EV

Gas prices are climbing and it’s possible they might continue to rise as the end of the year approaches. There are only 2 states left with average gas prices under $3 per gallon! And in California, the state average for a gallon of gasoline is $4.52! Q3 2021 hedge fund letters, conferences and more Best […] Gas prices are climbing and it’s possible they might continue to rise as the end of the year approaches. There are only 2 states left with average gas prices under $3 per gallon! And in California, the state average for a gallon of gasoline is $4.52! if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q3 2021 hedge fund letters, conferences and more Best State To Switch To An EV For those looking for a way to save on driving costs during this time, or for those who would like to minimize their carbon footprint anyway, there is a solution: an electric vehicle. But to switch to an electric vehicle there are a lot of factors to consider so Bumper, a leading vehicle history reports company, ranked all 50 states to find out where it makes sense to switch to an EV. In their Best States for Electric Cars study, Bumper ranked financial incentives by metrics like the number of rebates and tax incentives found in each state, gas prices, EV prices, average commute times, and more. They then ranked each state's infrastructure by metrics like the number of new charging stations, the number of power ports on each charging station, and the amount of other EVs. Washington is the best state for owning an electric vehicle; Alaska, the worst. The top states include Washington, Utah, Colorado, Massachusetts and California. On the other end of the spectrum, Alaska, Alabama, South Carolina, Mississippi and South Dakota are the worst states. Some states like Kentucky have recharge costs of nearly half that of California. 1,000 miles of driving in an EV costs $28.70 in Kentucky, compared with $56.30 in California! This makes Kentucky an ideal state to buy an EV in. California and New York are leading the growth for the total number of new EV charge stations. From January 2017 through August 5, 2021, the leader in new EV stations is by far California (11,833), followed by New York (2,273), Florida (1,901), Texas (1,771) and Massachusetts (1,662). The states with the fewest EV stations opening since 2017 are South Dakota (30), Alaska (33), Wyoming (37), Montana (42) and North Dakota (49). Figuring Out Your Charging Plan When thinking about switching to an EV you should figure out your charging plan. For example, some states did poorly in Bumper's study because of a lack of public charging stations. Kentucky has built only 7.5 charging stations per 100k people between 2017 and 2021, only Mississippi and Lousianna had built fewer. Most people charge at home but you may need to refuel at public charging stations near work so find out where they are. And if you are thinking of buying an EV to avoid rising gas prices or for any other reason, you should think outside of buying a Tesla. For example, Ford's EVs, especially the upcoming F-150 Lightning, could be more practical for you. Ford is investing $30 billion through 2025 in R&D, new plants, and worker training, as it believes 40% of US car volume will be electric by 2030. But apart from factors like infrastructure highlighted in Bumper’s report, the biggest reason why everyone is not buying an EV is the price. It is a valid concern when an electric car is still $7-14k more than an internal combustion equivalent. But this is a temporary situation and one that looks like it will be gone in a few years time. Richard Gargan, Consumer Advocate for Bumper said: "If you can't afford an EV or can't live with the lack of charging stations in your state, consider buying a plug-in hybrid. You can plug it into your normal wall outlet, and wait for infrastructure to improve and hopefully your next vehicle will be fully electric." Demand for oil is soaring globally with an energy crunch overseas where natural gas and coal are booming. Oil has recently hit a three-year high above $86 a barrel, driven by tight supply and a global energy crunch. Crude and fuel inventories have tightened, with crude inventories falling to a three-year low. One thing is for certain, as US President Joseph Biden has called for half of all new vehicles to be electric or hybrid-electric cars by 2030, it won't be just those of us sick of gas prices who will be switching to an EV, most of us will be. Updated on Oct 27, 2021, 3:02 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalk6 hr. 49 min. ago

Green Energy: A Bubble In Unrealistic Expectations

Green Energy: A Bubble In Unrealistic Expectations Authored by David Hay via Everegreen Gavekal blog, “You see what is happening in Europe. There is hysteria and some confusion in the markets. Why?…Some people are speculating on climate change issues, some people are underestimating some things, some are starting to cut back on investments in the extractive industries. There needs to be a smooth transition.” - Vladimir Putin (someone with whom this author rarely agrees) “By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of its citizens.” – John Maynard Keynes (an interesting observation for all the modern day Keynesians to consider given their support of current inflationary US policies, including energy-related) Introduction This week’s EVA provides another sneak preview into David Hay’s book-in-process, “Bubble 3.0” discussing what he thinks is the crucial topic of “greenflation.”  This is a term he coined referring to the rising price for metals and minerals that are essential for solar and wind power, electric cars, and other renewable technologies. It also centers on the reality that as global policymakers have turned against the fossil fuel industry, energy producers are for the first time in history not responding to dramatically higher prices by increasing production.  Consequently, there is a difficult tradeoff that arises as the world pushes harder to combat climate change, driving up energy costs to painful levels, especially for lower income individuals.  What we are currently seeing in Europe is a vivid example of this dilemma.  While it may be the case that governments welcome higher oil and natural gas prices to discourage their use, energy consumers are likely to have a much different reaction. Summary BlackRock’s CEO recently admitted that, despite what many are opining, the green energy transition is nearly certain to be inflationary. Even though it’s early in the year, energy prices are already experiencing unprecedented spikes in Europe and Asia, but most Americans are unaware of the severity. To that point, many British residents being faced with the fact that they may need to ration heat and could be faced with the chilling reality that lives could be lost if this winter is as cold as forecasters are predicting. Because of the huge increase in energy prices, inflation in the eurozone recently hit a 13-year high, heavily driven by natural gas prices on the Continent that are the equivalent of $200 oil. It used to be that the cure for extreme prices was extreme prices, but these days I’m not so sure.  Oil and gas producers are very wary of making long-term investments to develop new resources given the hostility to their industry and shareholder pressure to minimize outlays. I expect global supply to peak sometime next year and a major supply deficit looks inevitable as global demand returns to normal. In Norway, almost 2/3 of all new vehicle sales are of the electric variety (EVs) – a huge increase in just over a decade. Meanwhile, in the US, it’s only about 2%. Still, given Norway’s penchant for the plug-in auto, the demand for oil has not declined. China, despite being the largest market by far for electric vehicles, is still projected to consume an enormous and rising amount of oil in the future. About 70% of China’s electricity is generated by coal, which has major environmental ramifications in regards to electric vehicles. Because of enormous energy demand in China this year, coal prices have experienced a massive boom. Its usage was up 15% in the first half of this year, and the Chinese government has instructed power providers to obtain all baseload energy sources, regardless of cost.  The massive migration to electric vehicles – and the fact that they use six times the amount of critical minerals as their gasoline-powered counterparts –means demand for these precious resources is expected to skyrocket. This extreme need for rare minerals, combined with rapid demand growth, is a recipe for a major spike in prices. Massively expanding the US electrical grid has several daunting challenges– chief among them the fact that the American public is extremely reluctant to have new transmission lines installed in their area. The state of California continues to blaze the trail for green energy in terms of both scope and speed. How the rest of the country responds to their aggressive take on renewables remains to be seen. It appears we are entering a very odd reality: governments are expending resources they do not have on weakly concentrated energy. And the result may be very detrimental for today’s modern economy. If the trend in energy continues, what looks nearly certain to be the Third Energy crisis of the last half-century may linger for years.  Green energy: A bubble in unrealistic expectations? As I have written in past EVAs, it amazes me how little of the intense inflation debate in 2021 centered on the inflationary implications of the Green Energy transition.  Perhaps it is because there is a built-in assumption that using more renewables should lower energy costs since the sun and the wind provide “free power”.  However, we will soon see that’s not the case, at least not anytime soon; in fact, it’s my contention that it will likely be the opposite for years to come and I’ve got some powerful company.  Larry Fink, CEO of BlackRock, a very pro-ESG* organization, is one of the few members of Wall Street’s elite who admitted this in the summer of 2021.  The story, however, received minimal press coverage and was quickly forgotten (though, obviously, not be me!).  This EVA will outline myriad reasons why I think Mr. Fink was telling it like it is…despite the political heat that could bring down upon him.  First, though, I will avoid any discussion of whether humanity is the leading cause of global warming.  For purposes of this analysis, let’s make the high-odds assumption that for now a high-speed green energy transition will continue to occur.  (For those who would like a well-researched and clearly articulated overview of the climate debate, I highly recommend the book “Unsettled”; it’s by a former top energy expert and scientist from the Obama administration, Dr. Steven Koonin.) The reason I italicized “for now” is that in my view it’s extremely probable that voters in many Western countries are going to become highly retaliatory toward energy policies that are already creating extreme hardship.  Even though it’s only early autumn as I write these words, energy prices are experiencing unprecedented increases in Europe.  Because it’s “over there”, most Americans are only vaguely aware of the severity of the situation.  But the facts are shocking…  Presently, natural gas is going for $29 per million British Thermal Units (BTUs) in Europe, a quadruple compared to the same time in 2020, versus “just” $5 in the US, which is a mere doubling.  As a consequence, wholesale energy cost in Great Britain rose an unheard of 60% even before summer ended.  Reportedly, nine UK energy companies are on the brink of failure at this time due to their inability to fully pass on the enormous cost increases.  As a result, the British government is reportedly on the verge of nationalizing some of these entities—supposedly, temporarily—to prevent them from collapsing.  (CNBC reported on Wednesday that UK natural gas prices are now up 800% this year; in the US, nat gas rose 20% on Tuesday alone, before giving back a bit more than half of that the next day.) Serious food shortages are expected after exorbitant natural gas costs forced most of England’s commercial production of CO2 to shut down.  (CO2 is used both for stunning animals prior to slaughter and also in food packaging.)  Additionally, ballistic natural gas prices have forced the closure of two big US fertilizer plants due to a potential shortfall of ammonium nitrate of which “nat gas” is a key feedstock.  *ESG stands for Environmental, Social, Governance; in 2021, Blackrock’s assets under management approximated $9 ½ trillion, about one-third of the total US federal debt. With the winter of 2021 approaching, British households are being told they may need to ration heat.  There are even growing concerns about the widespread loss of life if this winter turns out to be a cold one, as 2020 was in Europe.  Weather forecasters are indicating that’s a distinct possibility.   In Spain, consumers are paying 40% more for electricity compared to the prior year.  The Spanish government has begun resorting to price controls to soften the impact of these rapidly escalating costs. (The history of price controls is that they often exacerbate shortages.) Naturally, spiking power prices hit the poorest hardest, which is typical of inflation whether it is of the energy variety or of generalized price increases.  Due to these massive energy price increases, eurozone inflation recently hit a 13-year high, heavily driven by natural gas prices that are the equivalent of $200 per barrel oil.  This is consistent with what I warned about in several EVAs earlier this year and I think there is much more of this looming in the years to come. In Asia, which also had a brutally cold winter in 2020 – 2021, there are severe energy shortages being disclosed, as well.  China has instructed its power providers to secure all the coal they can in preparation for a repeat of frigid conditions and acute deficits even before winter arrives.  The government has also instructed its energy distributors to acquire all the liquified natural gas (LNG) they can, regardless of cost.  LNG recently hit $35 per million British Thermal Units in Asia, up sevenfold in the past year.  China is also rationing power to its heavy industries, further exacerbating the worldwide shortages of almost everything, with notable inflationary implications. In India, where burning coal provides about 70% of electricity generation (as it does in China), utilities are being urged to import coal even though that country has the world’s fourth largest coal reserves.  Several Indian power plants are close to exhausting their coal supplies as power usage rips higher. Normally, I’d say that the cure for such extreme prices, was extreme prices—to slightly paraphrase the old axiom.  But these days, I’m not so sure; in fact, I’m downright dubious.  After all, the enormously influential International Energy Agency has recommended no new fossil fuel development after 2021—“no new”, as in zero.  It’s because of pressure such as this that, even though US natural gas prices have done a Virgin Galactic to $5 this year, the natural gas drilling rig count has stayed flat.  The last time prices were this high there were three times as many working rigs.  It is the same story with oil production.  Most Americans don’t seem to realize it but the US has provided 90% of the planet’s petroleum output growth over the past decade.  In other words, without America’s extraordinary shale oil production boom—which raised total oil output from around 5 million barrels per day in 2008 to 13 million barrels per day in 2019—the world long ago would have had an acute shortage.  (Excluding the Covid-wracked year of 2020, oil demand grows every year—strictly as a function of the developing world, including China, by the way.) Unquestionably, US oil companies could substantially increase output, particularly in the Permian Basin, arguably (but not much) the most prolific oil-producing region in the world.  However, with the Fed being pressured by Congress to punish banks that lend to any fossil fuel operator, and the overall extreme hostility toward domestic energy producers, why would they?  There is also tremendous pressure from Wall Street on these companies to be ESG compliant.  This means reducing their carbon footprint.  That’s tough to do while expanding their volume of oil and gas.  Further, investors, whether on Wall Street or on London’s equivalent, Lombard Street, or in pretty much any Western financial center, are against US energy companies increasing production.  They would much rather see them buy back stock and pay out lush dividends.  The companies are embracing that message.  One leading oil and gas company CEO publicly mused to the effect that buying back his own shares at the prevailing extremely depressed valuations was a much better use of capital than drilling for oil—even at $75 a barrel. As reported by Morgan Stanley, in the summer of 2021, an US institutional broker conceded that of his 400 clients, only one would consider investing in an energy company!  Consequently, the fact that the industry is so detested means that its shares are stunningly undervalued.  How stunningly?  A myriad of US oil and gas producers are trading at free cash flow* yields of 10% to 15% and, in some cases, as high as 25%. In Europe, where the same pressures apply, one of its biggest energy companies is generating a 16% free cash flow yield.  Moreover, that is based up an estimate of $60 per barrel oil, not the prevailing price of $80 on the Continent. *Free cash flow is the excess of gross cash flow over and above the capital spending needed to sustain a business.  Many market professionals consider it more meaningful than earnings.  Therefore, due to the intense antipathy toward Western energy producers they aren’t very inclined to explore for new resources.  Another much overlooked fact about the ultra-critical US shale industry that, as noted, has been nearly the only source of worldwide output growth for the past 13 years, is its rapid decline nature.  Most oil wells see their production taper off at just 4% or 5% per year.  But with shale, that decline rate is 80% after only two years.  (Because of the collapse in exploration activities in 2020 due to Covid, there are far fewer new wells coming on-line; thus, the production base is made up of older wells with slower decline rates but it is still a much steeper cliff than with traditional wells.)  As a result, the US, the world’s most important swing producer, has to come up with about 1.5 million barrels per day (bpd) of new output just to stay even.  (This was formerly about a 3 million bpd number due to both the factor mentioned above and the 2 million bpd drop in total US oil production, from 13 million bpd to around 11 million bpd since 2019).  Please recall that total US oil production in 2008 was only around 5 million bpd.  Thus, 1.5 million barrels per day is a lot of oil and requires considerable drilling and exploration activities.  Again, this is merely to stay steady-state, much less grow.  The foregoing is why I wrote on multiple occasions in EVAs during 2020, when the futures price for oil went below zero*, that crude would have a spectacular price recovery later that year and, especially, in 2021.  In my view, to go out on my familiar creaky limb, you ain’t seen nothin’ yet!  With supply extremely challenged for the above reasons and demand marching back, I believe 2022 could see $100 crude, possibly even higher.  *Physical oil, or real vs paper traded, bottomed in the upper teens when the futures contract for delivery in April, 2020, went deeply negative.  Mike Rothman of Cornerstone Analytics has one of the best oil price forecasting records on Wall Street.  Like me, he was vehemently bullish on oil after the Covid crash in the spring of 2020 (admittedly, his well-reasoned optimism was a key factor in my up-beat outlook).  Here’s what he wrote late this summer:  “Our forecast for ’22 looks to see global oil production capacity exhausted late in the year and our balance suggests OPEC (and OPEC + participants) will face pressures to completely remove any quotas.”  My expectation is that global supply will likely max out sometime next year, barring a powerful negative growth shock (like a Covid variant even more vaccine resistant than Delta).  A significant supply deficit looks inevitable as global demand recovers and exceeds its pre-Covid level.  This is a view also shared by Goldman Sachs and Raymond James, among others; hence, my forecast of triple-digit prices next year.  Raymond James pointed out that in June the oil market was undersupplied by 2.5 mill bpd.  Meanwhile, global petroleum demand was rapidly rising with expectations of nearly pre-Covid consumption by year-end.  Mike Rothman ran this chart in a webcast on 9/10/2021 revealing how far below the seven-year average oil inventories had fallen.  This supply deficit is very likely to become more acute as the calendar flips to 2022. In fact, despite oil prices pushing toward $80, total US crude output now projected to actually decline this year.  This is an unprecedented development.  However, as the very pro-renewables Financial Times (the UK’s equivalent of the Wall Street Journal) explained in an August 11th, 2021, article:  “Energy companies are in a bind.  The old solution would be to invest more in raising gas production.  But with most developed countries adopting plans to be ‘net zero’ on carbon emissions by 2050 or earlier, the appetite for throwing billions at long-term gas projects is diminished.” The author, David Sheppard, went on to opine: “In the oil industry there are those who think a period of plus $100-a-barrel oil is on the horizon, as companies scale back investments in future supplies, while demand is expected to keep rising for most of this decade at a minimum.”  (Emphasis mine)  To which I say, precisely!  Thus, if he’s right about rising demand, as I believe he is, there is quite a collision looming between that reality and the high probability of long-term constrained supplies.  One of the most relevant and fascinating Wall Street research reports I read as I was researching the topic of what I have been referring to as “Greenflation” is from Morgan Stanley.  Its title asked the provocative question:  “With 64% of New Cars Now Electric, Why is Norway Still Using so Much Oil?”  While almost two-thirds of Norway’s new vehicle sales are EVs, a remarkable market share gain in just over a decade, the number in the US is an ultra-modest 2%.   Yet, per the Morgan Stanley piece, despite this extraordinary push into EVs, oil consumption in Norway has been stubbornly stable.  Coincidentally, that’s been the experience of the overall developed world over the past 10 years, as well; petroleum consumption has largely flatlined.  Where demand hasn’t gone horizontal is in the developing world which includes China.  As you can see from the following Cornerstone Analytics chart, China’s oil demand has vaulted by about 6 million barrels per day (bpd) since 2010 while its domestic crude output has, if anything, slightly contracted. Another coincidence is that this 6 million bpd surge in China’s appetite for oil, almost exactly matched the increase in US oil production.  Once again, think where oil prices would be today without America’s shale oil boom. This is unlikely to change over the next decade.  By 2031, there are an estimated one billion Asian consumers moving up into the middle class.  History is clear that more income means more energy consumption.  Unquestionably, renewables will provide much of that power but oil and natural gas are just as unquestionably going to play a critical role.  Underscoring that point, despite the exponential growth of renewables over the last 10 years, every fossil fuel category has seen increased usage.  Thus, even if China gets up to Norway’s 64% EV market share of new car sales over the next decade, its oil usage is likely to continue to swell.  Please be aware that China has become the world’s largest market for EVs—by far.  Despite that, the above chart vividly displays an immense increase in oil demand.  Here’s a similar factoid that I ran in our December 4th EVA, “Totally Toxic”, in which I made a strong bullish case for energy stocks (the main energy ETF is up 35% from then, by the way):  “(There was) a study by the UN and the US government based on the Model for the Assessment of Greenhouse Gasses Induced Climate Change (MAGICC).  The model predicted that ‘the complete elimination of all fossil fuels in the US immediately would only restrict any increase in world temperature by less than one tenth of one degree Celsius by 2050, and by less than one fifth of one degree Celsius by 2100.’  Say again?  If the world’s biggest carbon emitter on a per capita basis causes minimal improvement by going cold turkey on fossil fuels, are we making the right moves by allocating tens of trillions of dollars that we don’t have toward the currently in-vogue green energy solutions?” China's voracious power appetite increase has been true with all of its energy sources.  On the environmentally-friendly front, that includes renewables; on the environmentally-unfriendly side, it also includes coal.  In 2020, China added three times more coal-based power generation than all other countries combined.  This was the equivalent of an additional coal planet each week.  Globally, there was a reduction last year of 17 gigawatts in coal-fired power output; in China, the increase was 29.8 gigawatts, far more than offsetting the rest of the world’s progress in reducing the dirtiest energy source.  (A gigawatt can power a city with a population of roughly 700,000.) Overall, 70% of China’s electricity is coal-generated. This has significant environmental implications as far as electric vehicles (EVs) are concerned.  Because EVs are charged off a grid that is primarily coal- powered, carbon emissions actually rise as the number of such vehicles proliferate. As you can see in the following charts from Reuters’ energy expert John Kemp, Asia’s coal-fired generation has risen drastically in the last 20 years, even as it has receded in the rest of the world.  (The flattening recently is almost certainly due to Covid, with a sharp upward resumption nearly a given.) The worst part is that burning coal not only emits CO2—which is not a pollutant and is essential for life—it also releases vast quantities of nitrous oxide (N20), especially on the scale of coal usage seen in Asia today. N20 is unquestionably a pollutant and a greenhouse gas that is hundreds of times more potent than CO2.  (An interesting footnote is that over the last 550 million years, there have been very few times when the CO2 level has been as low, or lower, than it is today.)  Some scientists believe that one reason for the shrinkage of Arctic sea ice in recent decades is due to the prevailing winds blowing black carbon soot over from Asia.  This is a separate issue from N20 which is a colorless gas.  As the black soot covers the snow and ice fields in Northern Canada, they become more absorbent of the sun’s radiation, thus causing increased melting.  (Source:  “Weathering Climate Change” by Hugh Ross) Due to exploding energy needs in China this year, coal prices have experienced an unprecedented surge.  Despite this stunning rise, Chinese authorities have instructed its power providers to obtain coal, and other baseload energy sources, such as liquified natural gas (LNG), regardless of cost.  Notwithstanding how pricey coal has become, its usage in China was up 15% in the first half of this year vs the first half of 2019 (which was obviously not Covid impacted). Despite the polluting impact of heavy coal utilization, China is unlikely to turn away from it due to its high energy density (unlike renewables), its low cost (usually) and its abundance within its own borders (though its demand is so great that it still needs to import vast amounts).  Regarding oil, as we saw in last week’s final image, it is currently importing roughly 11 million barrels per day (bpd) to satisfy its 15 million bpd consumption (about 15% of total global demand).  In other words, crude imports amount to almost three-quarter of its needs.  At $80 oil, this totals $880 million per day or approximately $320 billion per year.  Imagine what China’s trade surplus would look like without its oil import bill! Ironically, given the current hostility between the world’s superpowers, China has an affinity for US oil because of its light and easy-to-refine nature.  China’s refineries tend to be low-grade and unable to efficiently process heavier grades of crude, unlike the US refining complex which is highly sophisticated and prefers heavy oil such as from Canada and Venezuela—back when the latter actually produced oil. Thus, China favors EVs because they can be de facto coal-powered, lessening its dangerous reliance on imported oil.  It also likes them due to the fact it controls 80% of the lithium ion battery supply and 60% of the planet’s rare earth minerals, both of which are essential to power EVs.     However, even for China, mining enough lithium, cobalt, nickel, copper, aluminum and the other essential minerals/metals to meet the ambitious goals of largely electrifying new vehicle volumes is going to be extremely daunting.  This is in addition to mass construction of wind farms and enormously expanded solar panel manufacturing. As one of the planet’s leading energy authorities Daniel Yergin writes: “With the move to electric cars, demand for critical minerals will skyrocket (lithium up 4300%, cobalt and nickel up 2500%), with an electric vehicle using 6 times more minerals than a conventional car and a wind turbine using 9 times more minerals than a gas-fueled power plant.  The resources needed for the ‘mineral-intensive energy system’ of the future are also highly concentrated in relatively few countries. Whereas the top 3 oil producers in the world are responsible for about 30 percent of total liquids production, the top 3 lithium producers control more than 80% of supply. China controls 60% of rare earths output needed for wind towers; the Democratic Republic of the Congo, 70% of the cobalt required for EV batteries.” As many have noted, the environmental impact of immensely ramping up the mining of these materials is undoubtedly going to be severe.  Michael Shellenberger, a life-long environmental activist, has been particularly vociferous in his condemnation of the dominant view that only renewables can solve the global energy needs.  He’s especially critical of how his fellow environmentalists resorted to repetitive deception, in his view, to undercut nuclear power in past decades.  By leaving nuke energy out of the solution set, he foresees a disastrous impact on the planet due to the massive scale (he’d opine, impossibly massive) of resource mining that needs to occur.  (His book, “Apocalypse Never”, is also one I highly recommend; like Dr. Koonin, he hails from the left end of the political spectrum.) Putting aside the environmental ravages of developing rare earth minerals, when you have such high and rapidly rising demand colliding with limited supply, prices are likely to go vertical.  This will be another inflationary “forcing”, a favorite term of climate scientists, caused by the Great Green Energy Transition. Moreover, EVs are very semiconductor intensive.  With semis already in seriously short supply, this is going to make a gnarly situation even gnarlier.  It’s logical to expect that there will be recurring shortages of chips over the next decade for this reason alone (not to mention the acute need for semis as the “internet of things” moves into primetime).  In several of the newsletters I’ve written in recent years, I’ve pointed out the present vulnerability of the US electric grid.  Yet, it will be essential not just to keep it from breaking down under its current load; it must be drastically enhanced, a Herculean task. For one thing, it is excruciatingly hard to install new power lines. As J.P. Morgan’s Michael Cembalest has written: “Grid expansion can be a hornet’s nest of cost, complexity and NIMBYism*, particularly in the US.”  The grid’s frailty, even under today’s demands (i.e., much less than what lies ahead as millions of EVs plug into it) is particularly obvious in California.  However, severe winter weather in 2021 exposed the grid weakness even in energy-rich Texas, which also has a generally welcoming attitude toward infrastructure upgrading and expansion. Yet it’s the Golden State, home to 40 million Americans and the fifth largest economy in the world, if it was its own country (which it occasionally acts like it wants to be), that is leading the charge to EVs and seeking to eliminate internal combustion engines (ICEs) as quickly as possible.  Even now, blackouts and brownouts are becoming increasingly common.  Seemingly convinced it must be a role model for the planet, it’s trying desperately to reduce its emissions, which are less than 1%, of the global total, at the expense of rendering its energy system more similar to a developing country.  In addition to very high electricity costs per kilowatt hour (its mild climate helps offset those), it also has gasoline prices that are 77% above the national average.  *NIMBY stands for Not In My Back Yard. While California has been a magnet for millions seeking a better life for 150 years, the cost of living is turning the tide the other way.  Unreliable and increasingly expensive energy is likely to intensify that trend.  Combined with home prices that are more than double the US median–$800,000!–California is no longer the land of milk and honey, unless, to slightly paraphrase Woody Guthrie about LA, even back in the 1940s, you’ve got a whole lot of scratch.  More and more people, seem to be scratching California off their list of livable venues.  Voters in the reliably blue state of California may become extremely restive, particularly as they look to Asia and see new coal plants being built at a fever pitch.  The data will become clear that as America keeps decarbonizing–as it has done for 30 years mostly due to the displacement of coal by gas in the US electrical system—Asia will continue to go the other way.  (By the way, electricity represents the largest share of CO2 emission at roughly 25%.)  California has always seemed to lead social trends in this country, as it is doing again with its green energy transition.  The objective is noble though, extremely ambitious, especially the timeline.  As it brings its power paradigm to the rest of America, especially its frail grid, it will be interesting to see how voters react in other states as the cost of power leaps higher and its dependability heads lower.  It’s reasonable to speculate we may be on the verge of witnessing the Californication of the US energy system.  Lest you think I’m being hyperbolic, please be aware the IEA (International Energy Agency) has estimated it will cost the planet $5 trillion per year to achieve Net Zero emissions.  This is compared to global GDP of roughly $85 trillion. According to BloombergNEF, the price tag over 30 years, could be as high as $173 trillion.  Frankly, based on the history of gigantic cost overruns on most government-sponsored major infrastructure projects, I’m inclined to take the over—way over—on these estimates. Moreover, energy consulting firm T2 and Associates, has guesstimated electrifying just the US to the extent necessary to eliminate the direct consumption of fuel (i.e., gasoline, natural gas, coal, etc.) would cost between $18 trillion and $29 trillion.  Again, taking into account how these ambitious efforts have played out in the past, I suspect $29 trillion is light.  Regardless, even $18 trillion is a stunner, despite the reality we have all gotten numb to numbers with trillions attached to them.  For perspective, the total, already terrifying, level of US federal debt is $28 trillion. Regardless, as noted last week, the probabilities of the Great Green Energy Transition happening are extremely high.  Relatedly, I believe the likelihood of the Great Greenflation is right up there with them.  As Gavekal’s Didier Darcet wrote in mid-August:  ““Nowadays, and this is a great first in history, governments will commit considerable financial resources they do not have in the extraction of very weakly concentrated energy.” ( i.e., less efficient)  “The bet is very risky, and if it fails, what next?  The modern economy would not withstand expensive energy, or worse, lack of energy.”  While I agree this an historical first, it’s definitely not great (with apologies for all the “greats”).  This is particularly not great for keeping inflation subdued, as well as for attempting to break out of the growth quagmire the Western world has been in for the last two decades.  What we are seeing in Europe right now is an extremely cautionary case study in just how disastrous the war on fossil fuels can be (shortly we will see who or what has been a behind-the-scenes participant in this conflict). Essentially, I believe, as I’ve written in past EVAs, we are entering the third energy crisis of the last 50 years.  If I’m right, it will be characterized by recurring bouts of triple-digit oil prices in the years to come.  Along with Richard Nixon taking the US off the gold standard in 1971, the high inflation of the 1970s was caused by the first two energy crises (the 1973 Arab Oil Embargo and the 1979 Iranian Revolution).  If I’m correct about this being the third, it’s coming at a most inopportune time with the US in hyper-MMT* mode. Frankly, I believe many in the corridors of power would like to see oil trade into the $100s, and natural gas into the teens, as it will help catalyze the shift to renewable energy.  But consumers are likely to have a much different reaction—potentially, a violently different reaction, as I noted last week.  The experience of the Yellow Vest protests in France (referring to the color of the vest protestors wore), are instructive in this regard.  France is a generally left-leaning country.  Despite that, a proposed fuel surtax in November 2018 to fund a renewable energy transition triggered such widespread civil unrest that French president Emmanuel Macron rescinded it the following month. *MMT stands for Modern Monetary Theory.  It holds that a government, like the US, which issues debt in its own currency can spend without concern about budgetary constraints.  If there are not enough buyers of its bonds at acceptable interest rates, that nation’s central bank (the Fed, in our case) simply acquires them with money it creates from its digital printing press.  This is what is happening today in the US.  Many economists consider this highly inflationary. The sharp and politically uncomfortable rise in US gas pump prices this summer caused the Biden administration to plead with OPEC to lift its volume quotas.  The ironic implication of that exhortation was glaringly obvious, as was the inefficiency and pollution consequences of shipping oil thousands of miles across the Atlantic.  (Oil tankers are a significant source of emissions.)  This is as opposed to utilizing domestic oil output, as well as crude from Canada (which is actually generally better suited to the US refining complex).  Beyond the pollution aspect, imported oil obviously worsens America’s massive trade deficit (which would be far more massive without the six million barrels per day of domestic oil volumes that the shale revolution has provided) and costs our nation high-paying jobs. Further, one of my other big fears is that the West is engaging in unilateral energy disarmament.  Russia and China are likely the major beneficiaries of this dangerous scenario.  Per my earlier comment about a stealth combatant in the war on fossil fuels, it may surprise you that a past NATO Secretary General* has accused Russian intelligence of avidly supporting the anti-fracking movements in Western Europe.  Russian TV has railed against fracking for years, even comparing it to pedophilia (certainly, a most bizarre analogy!).  The success of the anti-fracking movement on the Continent has essentially prevented a European version of America’s shale miracles (the UK has the potential to be a major shale gas producer).  Consequently, the European Union’s domestic natural gas production has been in a rapid decline phase for years.  Banning fracking has, of course, made Europe heavily reliant on Russian gas shipments with more than 40% of its supplies coming from Russia. This is in graphic contrast to the shale output boom in the US that has not only made us natural gas self-sufficient but also an export powerhouse of liquified natural gas (LNG).  In 2011, the Nord Stream system of pipelines running under the Baltic Sea from northern Russia began delivering gas west from northern Russia to the German coastal city of Greifswald.  For years, the Russians sought to build a parallel system with the inventive name of Nord Stream 2.  The US government opposed its approval on security grounds but the Biden administration has dropped its opposition.  It now appears Nord Stream 2 will happen, leaving Europe even more exposed to Russian coercion.  Is it possible the Russian government and the Chinese Communist Party have been secretly and aggressively supporting the anti-fossil fuel movements in America?  In my mind, it seems not only possible but probable.  In fact, I believe it is naïve not to come that conclusion.  After all, wouldn’t it be in both of their geopolitical interests to see the US once again caught in a cycle of debilitating inflation, ensnared by the twin traps of MMT and the third energy crisis? *Per former NATO Secretary General, Anders Fogh Rasumssen:  Russia has “engaged actively with so-called non-governmental organizations—environmental organizations working against shale gas—to maintain Europe’s dependence on imported Russian gas”. Along these lines, I was shocked to listen to a recent podcast by the New Yorker magazine on the topic of “intelligent sabotage”.  This segment was an interview between the magazine’s David Remnick and a Swedish professor, Adreas Malm.  Mr. Malm is the author of a new book with the literally explosive title “How To Blow Up A Pipeline”.   Just as it sounds, he advocates detonating pipelines to inhibit fossil fuel distribution.  Mr. Remnick was clearly sympathetic to his guest but he did ask him about the impact on the poor of driving energy prices up drastically which would be the obvious ramification if his sabotage recommendations were widely followed.  Mr. Malm’s reaction was a verbal shrug of the shoulders and words to the effect that this was the price to pay to save the planet. Frankly, I am appalled that the venerable New Yorker would provide a platform for such a radical and unlawful suggestion.  In an era when people are de-platformed for often innocuous comments, it’s incredible to me this was posted and has not been pulled down.  In my mind, this reflects just how tolerant the media is of attacks on the fossil fuel industry, regardless of the deleterious impact on consumers and the global economy. Surely, there is a far better way of coping with the harmful aspects of fossil fuel-based energy than this scorched earth (literally, in the case of Mr. Malm) approach, which includes efforts to block new pipelines, shut existing ones, and severely restrict US energy production.  In America’s case, the result will be forcing us to unnecessarily and increasingly rely on overseas imports.  (For example, per the Wall Street Journal, drilling permits on federal land have crashed to 171 in August from 671 in April.  Further, the contentious $3.5 trillion “infrastructure” plan would raise royalties and fees high enough on US energy producers that it would render them globally uncompetitive.) Such actions would only aggravate what is already a severe energy shock, one that may be worse than the 1970s twin energy crises.  America has it easy compared to Europe, though, given current US policy trends, we might be in their same heavily listing energy boat soon. Solutions include fast-tracking small modular nuclear plants; encouraging the further switch from burning coal to natural gas (a trend that is, unfortunately, going the other way now, as noted above); utilizing and enhancing carbon and methane capture at the point of emission (including improving tail pipe effluent-reduction technology); enhancing pipeline integrity to inhibit methane leaks; among many other mitigation techniques that recognize the reality the global economy will be reliant on fossil fuels for many years, if not decades, to come.  If the climate change movement fails to recognize the essential nature of fossil fuels, it will almost certainly trigger a backlash that will undermine the positive change it is trying to bring about.  This is similar to what it did via its relentless assault on nuclear power which produced a frenzy of coal plant construction in the 1980s and 1990s.  On this point, it’s interesting to see how quickly Europe is re-embracing coal power to alleviate the energy poverty and rationing occurring over there right now - even before winter sets in.  When the choice is between supporting climate change initiatives on one hand and being able to heat your home and provide for your family on the other, is there really any doubt about which option the majority of voters will select? Tyler Durden Tue, 10/26/2021 - 19:30.....»»

Category: worldSource: nytOct 26th, 2021

The Dutch Government Is Gambling Billions On Green Hydrogen

The Dutch Government Is Gambling Billions On Green Hydrogen Authored by Cyril Widdershoven via OilPrice.com, Green hydrogen is making headlines around the world as many consider it a cornerstone of a successful energy transition  The Netherlands is ready to spend billions in its attempt to become a global green hydrogen hub, but some observers are becoming increasingly skeptical  The economic viability of this new investment is unclear and a growing number of critics see these investments as the government gambling with billions of euros  The future of green hydrogen looks very bright, with the renewable energy source becoming something of a media darling in recent months. The global drive to invest in green or blue hydrogen is picking up steam and investment levels are staggering. Realism and economics, however, seem to be lacking when it comes to planning new green hydrogen projects in NW Europe, the USA, and Australia. At the same time, blue hydrogen, potentially an important bridge fuel, is being largely overlooked. The Netherlands, formerly a leading natural gas producer and NW-European gas trade and transportation hub, is attempting to establish itself as a main pillar of the European hydrogen economy. According to the Dutch government, the Netherlands is ready to provide whatever is needed to support the set-up of a new green hydrogen hub and transportation network. During the presentation of the 2021-2022 government plans in September (Prinsjesdag), Dutch PM Mark Rutte committed himself to this green hydrogen future. Without any real assessments of the risks and potential economic threats, plans are being discussed and implemented for a multibillion spending spree on green hydrogen, involving not only the refurbishment of the Dutch natural gas pipeline infrastructure but also the building of major new offshore wind parks, targeting the construction of hundreds of additional windmills. These wind parks are going to be set up and owned by international consortia, such as the NorthH2, involving Royal Dutch Shell, Gasunie (owned by the government), and others. The optimism about these projects is now being questioned, not only by skeptics but increasingly by parties, such as Gasunie, that are part of the deals.  Dutch public broadcaster NOS reported yesterday that questions are popping up about the feasibility and commercial aspects of these large-scale plans as well as the potential risks of a new “cartel” of offshore wind producers. The multibillion-dollar investment plans, supported by the government, are even being questioned by experts of the Dutch ministry of economy, as it is not clear at all if green hydrogen production in the Netherlands, such as the NorthH2 project in Groningen (formerly known as the Dutch natural gas province), will ever be feasible or take-off. The commercial viability of green hydrogen is a major issue as it still needs large-scale technical innovation and scaling up of electrolyzers. At the same time, there is uncertainty over demand as industry (the main client) does not appear to be interested at present. Dutch parties are also asking themselves if the current set up of the planned offshore wind parks are not a precursor to a new wind-energy cartel in the making.  Some Dutch political parties and even insiders from Gasunie are worried about a monopoly position of the likes of Shell in the future.  Still, the main underlying issue is the financial risks being taken by the government in the coming years. As Dutch professor Paul Bovend’Eert stated to the news “plans are being developed, but financial risks are not addressed”. He also reiterated that the Dutch parliament has often been left out of the loop or not simply addressed at all. Several analysts have already warned that the current pro-green hydrogen strategy of the government is ‘gambling with billions”. Some have even warned that the projections about needed investments could be much higher than already is expected. The EU already stated that between EUR240-380 billion is needed to set up European-wide 40GW of hydrogen production. The Dutch government plans indicate a production capacity of 3-4GW by 2030 or an investment of tens of billions. To become a real NW-European hydrogen hub, investments will have to be even higher. While optimism is there, no real regulation and control mechanisms are in place to structure these government investments or subsidies to commercial parties. Gasunie board members indicated that more conditions and legal structures need to be put in place to control where the money is going. The current energy, oil, and gas markets in the Netherlands and EU are already liberalized. Ownership and investment or production strategies are not being set up by governments or the EU but by companies themselves. Nothing, in reality, would change dramatically, comparisons between hydrogen and natural gas markets are large. The increased criticism by some, such as Gasunie and political parties, with regards to the power position of commercial parties, is also very strange. Some could argue that the current hydrogen strategy of Shell and others is what society and Dutch judges have forced them to do. Shell could and should argue a very simple position “we are doing what the Dutch legal system is forcing us to do”. For parties such as Shell, at least in the Netherlands or the EU, taking up green hydrogen strategies is a new License to Operate. International energy giants such as Shell do not want to be minor players in this market. For an international player, a pivotal position in any market is a must.  In the coming weeks, especially after COP26, as criticism is now being muted by most, a potential storm could be brewing. If assessments are pointing out that the risks being taken by the Dutch government are too high in light of the benefits, and potential higher bills for customers, potential opposition to green hydrogen plans could be growing. At the same time, the Dutch hydrogen plans are seen by most as pivotal, even in light of the EU Commission’s Green Deal plans. A full-scale backlash to hydrogen could be a reality if Dutch political parties are going to constrain implementation, while other European countries will be more skeptical about their own plans. Billions, or potentially trillions, of euros will be at risk if this new hydrogen infrastructure turns out not to be economically viable. Without the power and technology of existing energy players, especially Shell, Total, BP, or ENI, behind the set-up, the future of this new power source will remain uncertain. Tyler Durden Mon, 10/25/2021 - 02:00.....»»

Category: blogSource: zerohedgeOct 25th, 2021

Photos and video show how NASA stacked its next moon rocket taller than the Statue of Liberty

NASA's Space Launch System is finally standing tall at the Kennedy Space Center, after years of delays. The Orion spaceship is lowered onto the Space Launch System rocket at NASA's Kennedy Space Center in Florida, October 20, 2021. NASA/Frank Michaux NASA has finished stacking the parts for its new moon rocket at the Kennedy Space Center in Florida. The 23-story Space Launch System is taller than the Statue of Liberty and barely fits into photos. NASA plans to launch SLS on an uncrewed trip around the moon in February, before flying astronauts. NASA has finally finished building its next moon rocket, and it's a behemoth.Towering at 322 feet, the Space Launch System (SLS) is taller than the Statue of Liberty, which is 305 feet high. The system has to be that large to produce enough thrust to push its Orion spaceship all the way around the moon - 1,000 times farther than the International Space Station. NASA intends to use this launch system to put boots back on the lunar surface for the first time since 1972 and, eventually, to build a long-term base there. The Space Launch System rocket and Orion spacecraft, completely stacked at NASA's Kennedy Space Center, October 21, 2021. NASA But first, SLS has to fly around the moon without any astronauts onboard - a mission called Artemis I - to prove that it can safely carry humans on future flights. NASA aims to launch that mission in February.So far this year, the agency has test-fired the rocket's engines and shipped all the parts to the Kennedy Space Center in Cape Canaveral, Florida. There, NASA engineers and technicians have been slowly stacking the pieces of the rocket in a vertical-assembly building. They secured the final piece - the Orion spaceship - just before midnight on Thursday, making the whole system 23 stories tall."It's a heck of a sight, and it is really nice to see," Mike Bolger, who manages the facilities at Kennedy, said in a briefing on Friday. "The rocket's so big that, to fully appreciate it, you need to get a little bit of distance from it to actually see it top to bottom."SLS is three years behind schedule and nearly $3 billion over budget. But the rocket is finally whole, and its first launch is within NASA's sights.How NASA stacked its monster moon rocket NASA astronaut Victor Glover looks up while visiting the Space Launch System rocket inside the Kennedy Space Center's Vehicle Assembly Building on July 15, 2021. NASA/Kim Shiflett Until June, the SLS' solid rocket boosters - white mini-rockets that attach to either side of the rocket to give it an extra boost - sat alone in the assembly building. That's when NASA lifted the rocket's core stage into the building and lowered it in between the boosters.The core stage is the biggest piece of SLS and its structural backbone. It's also the world's largest and most powerful rocket stage, according to NASA. NASA teams lift the Space Launch System rocket's core stage in preparation to stack it at NASA's Kennedy Space Center on June 11, 2021. NASA/Cory Huston Getting the core stage into the stacking facility was no easy feat. NASA shared a time-lapse video of the process, below.With the core stage in play, rocket-stacking began in earnest. In July, NASA added the interim cryogenic propulsion stage, which is supposed to give the Orion spaceship one final push towards the moon after the core stage falls away, high above Earth. NASA teams integrate the interim cryogenic propulsion stage onto the Space Launch System rocket at Kennedy Space Center on July 5, 2021. NASA/Glenn Benson Technicians then hooked up all the lines, called "umbilicals," which provide power, communications, and fuel to the rocket. "While all that was going on, in parallel facilities here at Kennedy, we were fueling the Orion spacecraft and readying it for flight," Bolger said. Technicians work on NASA's Orion spaceship. NASA Finally, Orion was ready this week. NASA lifted it to the top of the vertical-assembly building and lowered it onto the propulsion stage, finishing the stacked rocket with a pointy top.-NASA's Exploration Ground Systems (@NASAGroundSys) October 22, 2021"It's a heck of a rocket, and Orion's a heck of a spacecraft," Bolger said.Now, technicians must finish connecting and integrating all the final pieces. They'll conduct more tests to verify that the parts are working together properly. If that goes according to plan, NASA plans to conduct a "wet dress rehearsal" in January, practicing all the launch-day procedures, including loading the rocket with 730,000 gallons of liquid propellant.If the agency isn't ready to launch in February, it has back-up opportunities in March and April.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderOct 23rd, 2021

Kelley Blue Book: Your complete guide to MPGe, the electric equivalent of miles per gallon

As hybrids, plug-in hybrids, fully electric cars, and fuel cell vehicles become the new normal, it's time you understood this metric......»»

Category: topSource: marketwatchOct 22nd, 2021

Interview With Peloton’s Tom Cortese From CNBC Disruptor 50 Summit

Following is the unofficial transcript of a CNBC interview with Tom Cortese, Peloton Interactive Inc (NASDAQ:PTON) Co-Founder & Chief Product Officer, live during the CNBC Disruptor 50 Summit today. Q3 2021 hedge fund letters, conferences and more Interview With Peloton’s Tom Cortese JULIA BOORSTIN: Thank you so much, Tyler. And Tom Cortese, thank you so […] Following is the unofficial transcript of a CNBC interview with Tom Cortese, Peloton Interactive Inc (NASDAQ:PTON) Co-Founder & Chief Product Officer, live during the CNBC Disruptor 50 Summit today. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Walter Schloss Series in PDF Get the entire 10-part series on Walter Schloss in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q3 2021 hedge fund letters, conferences and more Interview With Peloton's Tom Cortese JULIA BOORSTIN: Thank you so much, Tyler. And Tom Cortese, thank you so much for joining us here today to talk about being a disruptor and how to keep innovating during a period of so much uncertainty and change. Thanks for joining us today. TOM CORTESE: Julia, thanks so much for having me. Excited to be here. Excited to be among this great group of disruptors. BOORSTIN: So Tom, I want to start off with this idea of being a disruptor and being an innovator. And I think it's really notable that you and your co-founders are still running the company. That is a very unusual thing for a startup, to transition to keep that leadership when a company goes public. But we're going to return to that topic. I want to start off with this idea, though, a big innovator and how you keep innovating. So my question is, after this period of transformation and change of the way we all live and exercise, how are you thinking about innovation now to hold on to consumers and capture more of them as we enter this new hybrid work/life world? CORTESE: What a great spot to start Julia. You know, we live and breathe innovation here at Peloton. And I get to spend my days with the folks involved in hardware, software and content. And if you think about our business and what we get to do, we get to innovate almost on three different timelines. With our daily content production, we have our instructors and our producer team, our music team, innovating, essentially, daily, looking at trends and how our members are working out, how consumers want to work out, bringing new class content to the forefront, being able to test new class types, etc. And we can do that on a daily basis and immediately respond to changing tastes in consumer behavior. And then on a, you know, weekly or monthly basis, we're putting out software updates to all of our equipment, our bikes, treads, whatever else might be coming, our TV apps, our iOS and Android apps on a multi-week or multi-month basis, we're putting out updates. And again, that same idea where our teams are just plugged in to an understanding of what our members are doing as they move through our system, looking for those pathways where our members are finding enjoyment and trying to just widen those pathways, looking for areas where there might be any friction and just ripping them out. And then third, you know, on a one or two-year cycle we're innovating in hardware and we've got teams who are deep into looking at what's happening in, you know, motor technology for the future to create the future treadmill or other what's happening in industrial design, how to create the most unique equipment that fits into the convenience of home in a way that we know our customers love. So what is just so much fun about our business is that we can innovate across all three of these areas, and we can do it on these unique timelines, and just keep on going. BOORSTIN: Yeah, I mean as you talk about innovating over, you know, near term, medium term and long term, it seems to me like the pressure to accelerate the pace of innovation on all three of those levels is more intense than ever, because you have people who have more options than ever. And I'm not talking about other exercise bikes they can use at home, I'm talking about, yes, there are things like Mirror and Tonal, but more realistically, people are just leaving the house and may be less willing to make a big investment in at home fitness. How do you think about sort of overall maintaining and accelerating your pace of innovation? CORTESE: Yeah absolutely. It's about creating something that consumers love. And when you look at Peloton and you look at the system that we've built you look at the fact that, you know, year over year, our members workout more with us year two than year one, more in year three than year two, right. The proof is in the data points that we've created a system that is engaging in a way where folks finally feel that they can enjoy working out, they have fun working out, they want to work out, and so they do, right. And you know, I think what we should remember about what we are all doing is we are bringing products to market to people, to consumers. For us, they're our members. And when you can show genuine value and you can show that you produce something that works for the consumer in a special way, that's how you capture the attention of the consumer. And, you know, we believe that we've found a very special formula when we entered the market with bike, and we've been able to bring that same type of formula to tread. We're now using that formula and bringing it across multiple modalities with our app based platform and we've got a ton more in the pipeline. And so we're just going to keep staying focused there. We know what we have, we know how to make our members tick, and we're going to go bring that across multiple modalities and across multiple geographies and keep on going. BOORSTIN: Well we look forward to seeing what other products you launch. But I think that you raise this interesting point about sort of innovating and figuring out how to apply this model that you came upon early in Peloton’s lifecycle to all these other platforms. And that brings me to this topic of adapting from being a startup to being a big public company. And we see a lot of companies have changes in leadership, but Peloton is relatively unique, that you and your co-founders are still running the company. So I'm wondering how you think about maintaining the speed of a startup, the energy and innovation of a startup and also figuring out how to adapt to the structures and the oversight of being a public giant effectively? CORTESE: There's a lot there, but I've got to start with the fact that, what's funny to me about this whole concept. And the question is, you know, for me, I'm still me. And I've been the same me for 10 years. My co-founders are still the co-founders who I've been working with making Peloton happen for the last 10 years. We still have the same level of remarkable trust in one another. And you know, we still argue with one another in all the same ways, right. And so, I know to the outside world now we are a big company but, you know, we are still that core group. And some of the principles that applied back when we were five people that now apply when we're more than 5,000, I think are the ones to focus on. And my favorite of which and the one I think has really made this all work is this notion of divide and conquer. You know, when we got together as five folks, we each had our own unique role that we were to play and I won't go through what they each were. But layered on top of having that unique and discreet role, we each had a great deal of trust that the other would, you know, bring to bear what we expected of each other. So that we would arrive together at that same point and be able to drive the business forward. And along the path when you're operating under divide and conquer like this, you also have to be super cognizant of all the things that you actually do well and the things that you actually do not. And I think we have a pretty conscious group, especially on the do not piece. And what we've been able to do, taking this divide and conquer method, and then taking this self-awareness call it, we've been able to look and say hey, where do we have holes and how can we shore up our executive team, you know, with folks who can plug in in different ways and bring different perspectives? And so here we are now, and it is 10 years later from the founding just about. And if you look at our executive team we've got this great mix of, you know, the old folks like me who have been there since day one. And these, you know, remarkable professionals who have been sewn into the fabric of our corporate culture and help us drive. And now together, we continue to push. BOORSTIN: Some valuable lessons there. I think probably for many different types of companies, this idea of self-awareness and hiring to fill the holes and also delegation and dividing and conquering, I'm wondering if there are any other lessons you've learned in the past decade about what it takes to successfully adapt into this sort of public company roll? I mean, I always reference what Reed Hoffman says about going from being a pirate to being part of the Navy. You know, you start off small and scrappy and then all of a sudden you're the establishment. So what do you – any other piece of advice, what would you tell entrepreneurs about what it takes to successfully make that jump? CORTESE: Look, you know, whether or not we're perceived as the establishment when I walk into, you know, a certain room or not, is up to, you know, the folks, the folks looking in. I do think it is really important to stay true to your core values, to stay true to those things that made you work and I just gave you examples of what I think made us work when we were small. And I'm certain that we're able to continue to bring those cultural elements to bear, even as we're a bigger company. And so again, we remain that same company. We wake up with that same hunger, we continue to have that chip on the shoulder that we've had from day one when no one wanted to invest in Peloton, right. We still wake up thinking we're that guy, right. We're those guys. And we also wake up every day with sort of the recognition and the burden that even though we are 10 years into this journey, we look down and we find our toes just standing on the starting line, because that opportunity ahead is so enormous, and that's an incredibly energizing thing, right. Some days I wake up and it's the opposite of energizing. Like how after 10 years am I still on the starting line? But it's also just awesome. Like, wow. Okay, guys, we've got the world's opportunity ahead. Let's go get it. BOORSTIN: So Tom, as you look at the next 10 years, my question is what kind of company is Peloton? Is it a fitness company? Is it a media company? Is it a tech company, a hardware company? Maybe all of those things? But how would you articulate what the future is of this company? CORTESE: We're a company focused on providing tremendous value for our members. And what's been interesting about our journey is we've had to be a whole great number of companies in order to make that happen. In order for us to step into fitness and completely innovate and change the narrative of how people feel about home fitness, how people approach fitness from something that they had to sort of will themselves to do, to being something that they can enjoy can enjoy doing, from something that they had to sort of travel to go make happen, to something they can do from the convenience of their home, from something where all of a sudden, you know, the magic and power of a group can be right there with you wherever you are. In order to completely shift that industry, and draw consumers into a whole new system for fitness and show them that it works for them, we had to go and innovate in all these different categories, right. We had to become a hardware company, we had to become a software company. We've built studios, we've built our own delivery facilities. I know you like talking about supply chain these days. We're in the process of building a factory in Ohio. And we've done all those things not because we wake up and say like, wow it would be awesome to create a really complicated business. But we do them because we have to do them in order to provide the value that we want to provide for our members. And so, as long as we see opportunity to provide value, we're going to go do what we need to do. And what's great about that formula is that when you put forward a product or service that genuinely creates value for the consumer, the consumer is going to be there. BOORSTIN: So let's talk a little about supply chain, though. I saw this joke that the Press Secretary at the White House made about the tragedy of the delayed treadmill. And so sort of poking fun at the fact that there are things that are maybe nice to have that are delayed like treadmills, but then also much more serious things that are delayed. How are you approaching the supply chain issue? Yes, down the line, you might have a factory here in the U.S., but how big of a problem could this be for you nearer term? CORTESE: You know, it was certainly a problem over the last 18 months. Thankfully, we have a team who also has deep in their bones this notion of having a bias to action. And you know, we pulled all the levers that we can pull. You know it was reported at some point, you know, we were putting bikes and treads on planes in order to be able to get them here. But we have a very robust supply chain that we've been building over the last number of years. We have a big investment in Taiwan and our partners and in our facilities, and we have great relationships with carriers. And through both our investment in the state of Ohio and our new partners, an acquisition of Precor, we've been building out our North America production and supply chain capabilities. So we've just been attacking this across every aspect of the supply chain with everything we've got, so that as we look ahead, we feel very comfortable about being able to chase this opportunity as the globe sort of settles out of this chip shortage and ocean shortage that we're seeing right now. BOORSTIN: Yeah, I mean that is certainly an issue that so many different companies are dealing with. But you did have a unique issue, which was this treadmill recall. Tell me how you approached that crisis and how you tried to learn from it for the future. CORTESE: Yeah, look, you know, we had to recall the treadmill this summer. And it was a gut wrenching moment for all of us as executives, as founders, as a team to wake up to the news of a tragedy and determine how to respond to it. You know, over the course of building this business, we've been, you know, we've genuinely enjoyed all waking up to being able to receive these wonderful notes from our members, social posts etc. talking about how Peloton has allowed them to transform their lives. Especially over the pandemic, we got so many folks reaching out and saying, you know, I am so thankful that through this I had my treadmill or I'm so thankful I had my bike. I'm so thankful I had the Peloton app. And that's what powers us. That's what makes us feel good about what we're doing and makes us want to continue to bring Peloton product and service to more and more folks. And so to get, you know, for this to happen, you know, gut wrenching, you know, moment of the recall to happen, you know, it was just something that was devastating. But we've responded really swiftly. We now have the all new Peloton tread out in market. And, you know, we've baked in a number of features that we believe make us the out in front, innovator now in safety for treads. And our team is energized by the notion that, you know, with all of these aspects of the fitness industry where we've been the out in front innovator, our team is energized, that we can now take this charge and become, you know, the far ahead runner in everything safety related for innovation in fitness. BOORSTIN: So looking at that moment of being able to turn a crisis into an opportunity for transformation, you also had an example of something much smaller, of course, though, with the marketing issue around the Peloton ad for holiday 2019 which upset a lot of people. You shifted gears after that marketing mishap some would say, and really shifted on consumer stories, real stories of Peloton users. I’m wondering what your advice would be to startups or to companies in general about how to use crisis as an opportunity for positive change? CORTESE: You know, I almost forgot about that ad after everything that's happened in the last three years. I’ve got to say, I really think we were misunderstood on that one. But we won’t relitigate the past. Misunderstood or not, it clearly didn't resonate and that was something that was quite obvious to us and our team. And so we turned around and we said, alright, we had something that we meant, it didn't come across clearly. You know, let's regroup and as we regroup, you know, that’s what we came back to. We said look, let's get back to just allowing the story to tell itself. We know that folks who have Peloton, love their Peloton. Let’s let them tell the stories. And let that be known. So, you know, these type of mishaps happen, right. And we obviously didn't get all tangled in and out about it, we picked up and we were on to the next. BOORSTIN: Yeah certainly every crisis is an opportunity for reflection and positive change, neither of those two issues seem to have been holding back Peloton at all. Really remarkable growth for your company. Tom Cortese, thank you so much for joining us today to talk about Peloton’s journey and what's ahead. Updated on Oct 21, 2021, 4:05 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkOct 21st, 2021

How long does it take to charge an electric car? It depends.

Recharging an electric car's battery can take anywhere from 30 minutes to multiple days. Here's what to know before going electric. A BMW i3 electric hatchback charges at a Volta charging station. Volta Charging an electric car isn't quite as straightforward as filling a gas tank. Recharging times can vary drastically depending on your vehicle and power source. It can take anywhere from 30 minutes to multiple days to replenish an electric car's battery. Filling up a conventional car takes just a few minutes regardless of make, model, or whether you pull into a Citgo, Shell, or Sunoco. Charging an electric vehicle is a bit more complicated. There's a laundry list of factors that can affect the time required to replenishing a car's battery pack. At the moment, it'll take a good deal longer than five minutes no matter what. A larger battery will generally take more time to fill up than a smaller one, all things being equal. Consider filling up a bucket versus a bathtub. Extra hot or cold temperatures can also draw out charging times. So can the battery's current state of charge. But, broadly speaking, the biggest determinant of charging speed is your power source: where the energy destined for a vehicle's battery pack is coming from. There are three categories of charging potential EV owners should know.Level 1 charging: The slowest optionIn a pinch, you can charge an electric car using a standard household outlet. This is called Level 1 charging, and EVs typically come with a cord to make it happen. But, as you might imagine, it's painfully slow. It's kind of like filling a car's gas tank with an eyedropper. Plugged into a 120-volt outlet for an hour, an EV will gain around 3-5 miles of range. Completely topping up a car's battery, which is typically good for anywhere between 150 and 300 miles of range, can take days.Level 2 charging: A good deal fasterThe next tier of charging speeds things up quite a bit. Level 2 chargers utilize a 240-volt connection like you'd use for a high-powered appliance or power tool, and lots of EV owners get one installed in their garage. Level 2 plugs are also what's offered at the vast majority of public charging stations. Power ratings range from 6 kilowatts to around 20 kilowatts, many multiples of the 1.4 kilowatts generated by a household outlet. The speed you get varies by vehicle and by charger, but Level 2 charging can deliver some 20-30 miles of range per hour. It takes roughly 6-12 hours to fully charge an EV using a Level 2 charger. Note also that charging gets considerably slower once you hit 80% battery. Level 3 charging: Recharge at lightning speedLevel 3 charging, widely known as DC fast-charging, is the next level up. It's the closest you can get to gas-station-like refueling times. DC fast-charging dumps substantial amounts of energy into a car's battery in a matter of minutes, rather than hours or days. When connected to one of these plugs, some electric cars can replenish 80% battery in half an hour or 45 minutes. Tesla claims the Model S Plaid can add 200 miles of range in just 15 minutes using one of the company's most powerful Superchargers. Your mileage will ultimately vary depending on the power of the station (which ranges from 50 kilowatts to 350 kilowatts) and the amount of power a vehicle is designed to accept. This charging method is ideal for long trips, when you want to quickly plug in and get back on the road. It can put undue stress on a vehicle's battery pack, though, so it may be advisable to lean on Level 2 charging if you can. This all may sound daunting, but remember that most cars are parked most of the time. Can your gas-powered vehicle sip fuel while you're at work or at dinner? Nope.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderOct 18th, 2021