14 hoursIndia Slaps Windfall Tax On Oil Producers And Refiners
15 hoursMexican President Looks To Inaugurate Unfinished Refinery
16 hoursDomestic Demand Helps Russian Oil Production To Rebound
17 hoursIndia Limits Fuel Exports
17 hoursBaltic States Ready If Russia Cuts Off Access To Power Grid
18 hoursCalifornia May Need Fossil Fuel Power To Avoid Blackouts
19 hoursRussia To Take Over Whole Sakhalin-2 Project
1 dayBiden Says Americans To Suffer High Gasoline Prices For “As Long as it Takes”
1 dayFederal Offshore Oil And Gas Auctions Could Be Limited To Gulf Of Mexico
2 daysUniper In Bailout Talks With German Government As Russia Cuts Gas Supply
2 daysUK Ready To Pay Companies To Cut Electricity Consumption
2 daysEnvironmentalists Speak Out As Armenia Restarts Controversial Gold Mine
2 daysCan Putin Convince Tajikistan To Join The Moscow-Led Eurasia Economic Union?
2 daysEurope’s Power Prices Surge As Market Fears Worsening Supply Crunch
2 daysSuriname Prepares Major Oil Block Offering
2 daysGazprom Not To Pay Dividend For 2021
2 daysSaudi Arabia May Raise Oil Prices For Asia Further
2 daysGermany’s Diesel Situation Just Got Worse
3 daysOil Likely To Hit $200: SEB Group
3 daysU.S. Could Release Even more Oil From Strategic Stockpiles
3 daysRussia’s Oil Production Jumps By 5% In June
3 daysGermany’s Energy Crisis Could Worsen Amid Low Wind Power Output
3 daysIndia Sets Sights On Deepwater Basin In Oil Exploration Push
3 daysShell Warns Of Prelude LNG Disruptions
3 daysUK Could Cut Gas Links To Europe If Severe Shortages Occur
3 daysNorway Averts Oil Strike
4 daysOil Rises Further As API Reports Large Crude Draw
4 daysIEA: Europe Will Have To Cut Gas Usage By Nearly One-Third
4 daysU.S. Energy Employment Rises Despite Loss In Fossil Fuel Jobs
4 daysTensions Are Rising Ahead Of Xi-Biden Meeting
4 daysChinese Stocks Are On The Rise Following Unexpected Covid Shift
4 daysIran Looks To Join BRICS Group Of Russia And China
4 daysCanada May Expand Energy Infrastructure To Help Europe
4 daysU.S. Moves To Improve Relations With Oil-Rich Venezuela
4 daysIndia's Coal Crisis Is Far From Over
4 daysG7 Invites Oil Importers To Consider Price Cap On Russian Oil
4 daysFrance Says The Market Needs Iranian And Venezuelan Oil
4 daysCritical EIA Oil Inventory Data Sees Further Delays
5 daysOPEC+ Sees Oil Market Surplus Shrinking To 1 Million Bpd
4 minutesThe Federal Reserve and Money...Aspects which are not widely known
8 minutesHow Far Have We Really Gotten With Alternative Energy
12 minutes What Russia has reached over three months diplomatic and military pressure on West ?
2 hoursGREEN NEW DEAL = BLIZZARD OF LIES
6 daysEuropean Parliament Members, Cristian Terhes et al, push back against Totalitarian Digital ID and Carbon Tyranny in Europe.
11 hoursOnce seen as fleeting, a new solar tech proves its lasting power
5 days"How Long Will The Epic Rally In Energy Stocks Last?" by Tsvetana Paraskova at OILPRICE.COM
3 daysOil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
7 days"...too many politicians believe things that aren’t true." says Robert Rapier
7 daysCoincidence of EIA Report Delay? - "I had seen it delayed minutes, and a couple of times a few hours, but don’t recall something like this — do others?" asks Javier Blas
Yesterday, Tesla (TSLA) unveiled its new truck, and the event was vintage Musk. As if the world’s first fully electric semi wasn’t enough, he used the occasion to unveil a new roadster that was driven from the trailer of the demo. That kind of showmanship and marketing has been his genius in the past. It has helped to cement his reputation as an innovative, disruptive thinker and it keeps the Tesla fans in awe. The haters, of course, see it all as a distraction from the production issues and increasing losses at the company, but you either buy into the visionary thing or you don’t. Even for the doubters, though, the numbers make it hard to be anything but impressed with the truck itself.
Tesla claims it will make truck operation cheaper and safer, and given the relative cost of electricity and the inclusion of autopilot features such as automatic braking and lane departure correction both of those claims look justified. Probably the most impressive numbers, though, are the single charge range of 500 miles, and the 400 miles achievable after thirty minutes on a Tesla Supercharger. It will also lumber less from a stop than diesel vehicles, reaching 60 MPH in 20 seconds fully laden and in an incredible 5 seconds without a trailer.
What we don’t know at this point is how much it will cost. The lack of that information is understandable, as predicting cost for a vehicle scheduled for production in two years would be tough in any case, and is…
Yesterday, Tesla (TSLA) unveiled its new truck, and the event was vintage Musk. As if the world’s first fully electric semi wasn’t enough, he used the occasion to unveil a new roadster that was driven from the trailer of the demo. That kind of showmanship and marketing has been his genius in the past. It has helped to cement his reputation as an innovative, disruptive thinker and it keeps the Tesla fans in awe. The haters, of course, see it all as a distraction from the production issues and increasing losses at the company, but you either buy into the visionary thing or you don’t. Even for the doubters, though, the numbers make it hard to be anything but impressed with the truck itself.
Tesla claims it will make truck operation cheaper and safer, and given the relative cost of electricity and the inclusion of autopilot features such as automatic braking and lane departure correction both of those claims look justified. Probably the most impressive numbers, though, are the single charge range of 500 miles, and the 400 miles achievable after thirty minutes on a Tesla Supercharger. It will also lumber less from a stop than diesel vehicles, reaching 60 MPH in 20 seconds fully laden and in an incredible 5 seconds without a trailer.
What we don’t know at this point is how much it will cost. The lack of that information is understandable, as predicting cost for a vehicle scheduled for production in two years would be tough in any case, and is even more so when that vehicle is battery powered. The cost of batteries is falling rapidly as production levels increase, and it is impossible to predict where we will be in two years. It is, however, reasonable to assume that prices will be significantly lower, enabling the Tesla truck to be competitively priced.
There are, however, questions that remain for investors, even those that are not about to buy TSLA regardless of the truck and roadster. An affordable, practical electric semi has obvious implications for the oil business and prices of the commodity, as well as for things like natural gas and solar power that are increasingly used to generate electricity. But, there is also a bigger issue…jobs. According to the American Trucking Association there are 3.5 million professional truck drivers in the U.S., and Goldman Sachs economists have estimated that 300,000 of those jobs will be eliminated annually as automation takes hold.
(Click to enlarge)
As for Tesla stock, this can only be seen as a positive. There are, of course, other companies involved in research into electric trucks, but none have either the experience or the caché of Tesla in the field. Add in the prospect of a return to Tesla’s roots in performance electric vehicles with the roadster and it is no wonder that the stock is up around four percent in this morning’s pre-market. Even if you see yesterday’s revelations as a distraction, the fact remains that the losses now look more like massive investment in the future. That will renew the excitement of the Tesla faithful and ensure that this morning’s jump is just the beginning.
To access this exclusive content...
Select your membership level below
COMMUNITY MEMBERSHIP
(FREE)
Full access to the largest energy community on the web