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By Jo Nova
Last week the EV bubble popped
It’s been a crushing week for the EV industry as the bad news that has been brewing for months was laid bare in the quarterly reports. Across the industry, corporate CEO’s are all admitting that demand is unexpectedly slow, orders are down, and suddenly projects are being delayed “indefinitely”.
Volkswagen admitted orders are down a shocking 50% and they are sacking 2,000 jobs in the software division. Ford posted an operating loss of $1.3 billion for the quarter — meaning they are losing $36,000 for every EV they sell. They face a ghastly full year loss of $4.5b, so not surprisingly, they are delaying battery plants, and plans to expand production. All up they are now holding off on $12 billion in investments.
The head of Mercedes-Benz described the market as “a pretty brutal space”. Harald Wilhelm hinted that some manufacturers won’t survive: “I can hardly imagine the current status quo is fully sustainable for everybody,” he said.
Panasonic has slowed EV battery production was reduced by 60% in Japan compared to the same quarter last year. While its US plants were OK, profit forecasts of the whole energy division […]
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Marketing fantasies from the Boom Times of Wind. Who were they kidding? | Siemens Gamesa
By Jo Nova
It’s dire. After suffering a 36% fall in June due to unexpectedly bad maintenance bills, Siemens Energy has lost another 37% on Thursday as it revealed orders and revenue would be even lower than the current subdued expectations. The share that sold for 24 euro in May is now selling for 7.
Frankfurt Borse
Things are so bad Olaf Scholz, Chancellor of Germany has even said Siemens Energy is “very important”. Apparently talks are “intensive”, which presumably means the company is on death’s door and the German government is being asked to help save it.
And so we arrive at a point where a company selling products that depend on government subsidies is now asking to be subsidized itself. And the whole green industry depended on government pumped “science” and artificially low interest rates to exist in the first place. Like a pyramid scheme skiing on a two ponzi scams, sooner or later it has to collapse.
Tyler Durden, ZeroHedge
Siemens Energy Shares Crash 37% As Renewable Bust Sparks ‘Green Panic’
Siemens Energy […]
9.1 out of 10 based on 15 ratings
By Jo Nova
Let’s run an experiment on a whole nation that we can’t even do easily on a single home
Photo | Daily Sceptic,
Imaging scaling this up for a country?
The Daily Sceptic has the story of an Australian farmer in Victoria who has gone off-grid to try to be as self sufficient as he can, not out of ideology, but for pragmatic reasons. He has two 3 bedroom homes, with 30 solar panels and a 1kW wind turbine each. For storage they have about 30 German lead acid batteries which at current prices is about $15,000 of batteries each. But even so, each house still has bottled gas stoves, and a 6 kVA petrol generator. The generators are set to come on when the batteries get too low, which often happens in the evenings of autumn, winter and sometimes in spring. (He estimates about 60 – 100 hours each year). Even above all that equipment that needs gas, fuel and maintenance and cost about $160,000 in total to set up, they still have to grow, cut and collect, ouch, 100 kg of wood (220lbs) per week in winter for each house.
He warns that anyone […]
9.1 out of 10 based on 14 ratings
By Jo Nova
Does anyone care? 600 million Africans don’t have electricity
They burn wood for power. Forests are razed and no one even notices. As Geoff Hill says, they warm their homes and cook their food the only way they can — by chopping down forests and converting wood to charcoal, a fuel used by the Greeks and Romans. If they had coal fired power or gas plants they wouldn’t need to cut down 400 year old trees.
An area the size of Switzerland is being denuded every year, 70% of Africa’s forests are gone, but it’s as if the rest of the world barely registers it.
Solar panels don’t work under thick cloud, and can blow away in cyclones, hydro plants won’t work in droughts, but fossil fuel plants survive bad weather. Do the Greens really care about the environment, or the poor — does the ABC, CBC or the BBC?
His advice: don’t let them get away with propaganda that keeps people in poverty
When you see a newspaper article claiming that sandstorms and creeping desert are solely down to climate change, write a letter to the editor – even just a few lines […]
8.8 out of 10 based on 18 ratings
MingYang
By Jo Nova
In the race for “free” but random energy, or perhaps for bigger status symbols, China set a new record in July with a 16MW wind tower with a rotor diameter of an awesome 853 feet (260m). It’s a bird mincer one quarter of a kilometer across. But already plans are being drawn up for an even bigger one.
What could possibly go wrong? It’s typhoon proof…
Gargantuan 22-MW wind turbine will be among history’s largest machines
By Loz Blain, New Atlas
Imagine something as tall as New York’s Chrysler building, but spinning. China’s Mingyang Smart Energy has announced plans for a colossal 22-megawatt offshore wind turbine, and standing in its presence will be an unprecedented human experience.
The new turbine proposed for 2025 by MingYang, according to Bloomberg, will have a peak output of 22 MW, and a rotor diameter over 310 m (1,017 ft), corresponding to a swept area of at least 75,477 sq m (812,425 sq ft, 14.1 NFL football fields, 60 olympic swimming pools), minus hub.
The Eiffel Tower is 324m tall.
A few months ago Siemens got bad news on turbine maintenance that was […]
8.7 out of 10 based on 14 ratings
ABC News
By Jo Nova
It’s just emblematic of your Clean Green Future
Complexity and false hope is eating the crown of Australia’s Net Zero transition — the Snowy 2.0 Pumped Hydro scheme. Things have gone from “debacle” to Soviet Grade Industrial Fiasco. After Florence-the-tunnel-borer got stuck and created a sinkhole, workers spent seven months trying to shore up the ground, playing God against the mountain — pumping in grout, cement and polyurethane foam. But the foam made a gas so toxic the tunnel had to be evacuated. To make things worse the workers were originally told the gas was water vapor but it turned out to be isocyanate. At every point the Snowy Hydro team hid the bad news and issued propaganda, and it’s only taken the ABC a year to tell us the workers predicted the sinkhole, and three months to investigate the safety breach.
Still, that’s better than the NSW regulator who knows all the other safety breaches but won’t even share them, because it’s so bad ” it may affect the contractor’s reputation.” (Which it surely just did anyway.)
This is your low-carbon future. It was supposed to cost $2 billion but the bill […]
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By Jo Nova
It’s a fantastic piece of engineering
Henry Gray (1918) Anatomy of the Human Body
Last week my EPL tendon went snafu. For no reason, my left thumb just stopped doing what it always has. It didn’t hurt, but it didn’t work. It was rather disconcerting. I wondered if it was the first sign of some hideous degenerative nerve condition that would put me in a wheelchair. But after searching with the dreaded Dr Google, I figured out I’d just torn the EPL tendon. Who knew tendons can wear away painlessly and break? Who knew we can diagnose these things without an xray, just with an eyeball? So, I had surgery in hospital yesterday to fix it.
I looked at anatomy drawings and it dawned on me, we can see all the tendons on the back of our hands if we flex them the right way in the right light. And by golly, my right thumb had two tendons, but my left only had one. It was so obvious. Have a look at your own hand. We have two long tendons running down the back of your index finger and pickie* (though these look like […]
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8.1 out of 10 based on 21 ratings
By Jo Nova
Sometimes we just need to pay attention to what adversaries are doing.
Why would China be so worried about foreign EV’s near airports and holiday resorts of VIPs?
Winston Sterzel spent 14 years in China and has some of the best insights and connections behind the propaganda wall.
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I am unavoidably distracted by other things for the next two days. Sorry I will not be able to reply to emails or comments. Thanks to the moderators for keeping the ship running.
h/t John Connor, Furiously curious, Kim, and RexAlan
9.9 out of 10 based on 71 ratings
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JoNova A science presenter, writer, speaker & former TV host; author of The Skeptic's Handbook (over 200,000 copies distributed & available in 15 languages).
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