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Speculators Go Short As Demand Is Downgraded

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Friday, September 16 2016

In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.

Let’s take a look.

1. EV charging stations power up

(Click to enlarge)

- Automakers face the tough task of convincing consumers that enough charging stations exist to warrant the purchase of an electric vehicle. That should become easier as EV charging stations are finally starting to proliferate.
- There are now 14,349 EV charging stations in the U.S., according to the DOE, with nearly 36,000 EV outlets. ChargePoint, a California company, has roughly 30,000 outlets, which is more than double the number of McDonald’s restaurants in the U.S., Bloomberg reports.
- But EV sales are still tepid. In the first half of the year, the U.S. sold 65,000 EVs, which is equivalent to the truck sales from just one automaker (Ford) for one month.
- Still, the upside potential is huge. Chevy is set to unveil its Bolt car later this year, a fully-electric vehicle with 238 miles of range, and a price tag of $37,000 before federal and state tax credits. They beat Tesla to the punch, with a mass market EV at a relatively affordable price. Tesla’s car may come out next year.

2. Speculators go short

(Click to enlarge)

- Speculators…

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