Will EVs Ever Be Up to Par?

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DAILY ENERGY NEWS | 11/20/2024

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Tell us something we don't know

InsideEVs (11/12/24) article: "Lucid Motors' CEO Peter Rawlinson isn't someone who sugarcoats things. Whether it's about rotobaxis or EV pickups, the executive likes to let his perception—or, as he believes, the reality—of the industry rip. Next up on his roast list: electric cars sold in America. According to Rawlinson, the choices Americans have for EVs suck. His words, not mine. And it all comes down to being offered a plethora of otherwise watered-down battery-powered cars that could have been so much more. We're talking about better range, better quality, better performance. Just plain better. But instead, we got various forms of The Blob."

"Many people [in America] have driven EVs that frankly suck. I know because I drive all the competition. So I think the American public has been ill-served by underwhelming EVs."

– Peter Rawlinson, CEO of Lucid Motors'

The real inconvenient truth, climate conferences are pointless

RealClearEnergy (11/18/24) article: "An inconvenient truth is that climate conferences have not had a significant impact on global emissions. China now emits more greenhouse gases than the entire developed world combined. 95% of the world’s new coal plants in 2023 were Chinese, with the country approving enough coal power over the past two years to supply electricity to the whole of Brazil. The binary factor in whether we can avoid the worst effects of climate change for our posterity lies chiefly in whether we can halt nations like China (and those on the rise behind it) from continuing on such reckless paths. Not whether we can negotiate punchier statements at climate conferences."

Maybe don't make bad, overpriced cars?

AP (11/15/24) reports: "General Motors is laying off about 1,000 workers worldwide, shedding costs as it tries to compete in a crowded global automobile market. The workers, mostly white collar, were notified about the decisions early Friday. The company confirmed the layoffs in a statement but gave few details. GM and other automakers have been navigating an uncertain transition to electric vehicles both in the U.S. and worldwide, trying to figure out where to invest capital and how fast the switch will happen. The company has had to develop and update gas-powered models while investing in EV battery and assembly plants as well as minerals and other parts for the next generation of electric vehicles."

Biden must actually hate affordable domestic energy production

E&E News (11/14/24) reports: "A group of Democratic lawmakers want President Joe Biden to impose new restrictions on offshore drilling before the new administration takes office. A letter led by House Natural Resources ranking member Raúl Grijalva (D-Ariz.) and Energy and Commerce ranking member Frank Pallone (D-N.J.) calls on Biden to put areas off limits in the Atlantic and Pacific oceans and eastern Gulf of Mexico."

Energy Markets

WTI Crude Oil: ↑ $70.01
Natural Gas: ↑ $3.10
Gasoline: ↓ $3.06

Diesel: ↑ $3.54
Heating Oil: ↓ $223.28
Brent Crude Oil: ↑↓ $55.60
US Rig Count: ↓ 596

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