Tag: prices

Bolt 70,000

Our 2017 Chevy Bolt just passed 70,000 miles (about 113,000 kilometers). We still love driving it and hope to keep it for years to come.

With gas prices as expensive as they are these days, it’s especially nice to be driving an electric vehicle. Bonus: we own solar panels in a community solar farm, so charging at home is very inexpensive.

I’m just hoping that, when we do decide to replace our Bolt, we will have lots of EVs from which to choose. EVs are winning increasing market share in most of the rest of the world, so the United States will be playing catch-up after the damage the Trump administration has done to the EV industry.

Hate to say they told you so, but…

So the US stock market – and most of the other major world stock indices – have been tanking lately. Part of the reason given is the low price of crude oil, at a time of oversupply  and the added stress of Iranian oil entering the market.

Middle Eastern oil is cheap to produce and can still make money at $27/barrel.

US oil, especially shale oil, can not. Production costs can be double that amount, so, as one would expect, there has been a huge drop in the number of new wells being drilled.

To make matters worse, the companies were borrowing the money to drill wells, betting they could make enough profit to pay make loan payments and keep drilling.

Some economists and fossil fuel sector experts, such as Art Berman and Deborah Lawrence, had warned of a “shale bubble” which could burst, causing a wave of bankruptcies in the drilling sector and massive troubles for the banks loaning to them.

Their predictions are coming true.

We can’t say we weren’t warned.
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JJJ 2016

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