Senate Dems warn they will block Trumps recess appointments
Today in History for July 26th
#HongKong justice chief welcomes legal challenges to joint rail checkpoint
British summer fruit: a rarity post-Brexit?
Do EU sanctions really work?
Whats next in the Senate health care debate:
#Tech #CEOs #socialmedia showdowns #fintech #AI
Exclusive: Viacom willing to make an all-cash deal to buy Scripps Networks - sources
Ultrabulk secures newbuild financing from JBIC
Offshore Wind Taking Cleveland Back to the Future
Coast Guard clears kayakers on river near Trumps Virginia golf course
Trump says Apple will build “beautiful manufacturing plants” in the U.S.
Ex-Watergate prosecutor: Kushner’s explanations on Russian meetings are just lies
The best bad parent joke for the summer holidays
Cash machine hacked in five minutes
INSIGHT: Trump warns Iran to comply with nuclear deal
Indonesia denies wounding Vietnam fishermen in renewed South China Sea clash
Boehner: GOP will never repeal ObamaCare
Rights groups urge Philippine president Rodrigo Duterte to retract threat to bomb schools
Nordic banks might not be the right model
Global #Fintech Report Q2 2017 #fintech #banking #startups #tech @CBinsights
Investment in UK #Fintech Tops Pre-Brexit Levels in First Half of 2017 via @InnFin
Republican senator recorded criticizing Trump
Are there any alternatives to catnip? (Asking for a friend)
Extinct Quoll Bred at Barrington Tops
British summer fruit: a rarity post-Brexit?
Elon Musk’s Fears of AI Aren’t Shared By Everyone...
Check out our visualizations of the reach of foreign NGOs and their activities in China
Samskip moves to acquire Nor Lines
Gene drive research: #DARPA lays its bets: #CRISPR #Pentagon
Watching These Rescued #Bats Share Corn on the Cob Just Made Our Days #Animals #Cute
Breitbart slams Trump for hypocrisy over Sessions attacks
President Trump says Syrias leader Bashar al-Assad wont get away with horrible crimes
Surprisingly, investors are on the sidelines this week @alanwallst
US Senate agrees to debate scrapping Obamacare.
UNICEF: Ghana schools lacking toilets
New battery tech could let electric cars charge in mere minutes
Stocks are ignoring U.S. political uncertainty, but the dollar isn’t
This new AI predicts an areas relative wealth from space—and lets you remodel neighborhoods
Scaramucci wants a federal tax break on his firms sale, sources say
MSF reopens Kunduz hospital after deadly US bombing
Last week in tech: Everything you missed while nerding out on Comic-Con
The rise in popularity of the serviced apartment - @OneTouchInvest
China Recreation Index for July: 102.9, previous: 104.1 (change: -1.2%) #WPI
You can now purchase more with each minute of work than ever before.
Bush ethics lawyer: Trump pressuring AG to prosecute Clinton is an impeachable offense’
#NorthKorea official on US travel ban: We dont care at all
Top-ranking Vatican official makes first court appearance on sex abuse charges.
Ex-CIA chief: Trump’s Boy Scout speech felt like third world authoritarians youth rally
Asia stocks, dollar steady as investors await Fed clues
Swiss police catch forest-dwelling chainsaw attacker #Schaffhausen
China Cosco announces more details of OOCL acquisition
UN accuses Democratic Republic of Congo army of digging Kasai mass graves
Having a hard time finding a job that matches your skill level? You’re not alone
Is it really possible to get high off of snakebites? @Neuro_Skeptic
Why we need to regulate AI now @DanielHowley
Why oil prices scored their biggest one-day rally of 2017
Life moves pretty fast. If you dont stop and look around once in a while, you could miss it.
Israel Removing Metal Detectors from Al-Aqsa Mosque After Massive Protests
Scaramucci: I wont fire any more White House staff to stop leaks for now
US senate votes to open debate on Obamacare repeal
Opinion: Why Mahathir Mohamad is #Malaysia’s best hope, and Najib’s worst nightmare
A Father’s Age at Conception Influences a Child’s Social Behavior Later On:
#US man charged for #smuggling king #cobras in potato chip cans
1 in 4 black Americans have faced online harassment because of their race or ethnicity
Alcohol In Space: The Universe Is Absolutely Drowning In Booze
Sperm count in the western world is half what it was in the 1970s, says new research
Toyota to make fast charging long range electric car
Wisconsin company offers employees microchip implants
Calculate levelized cost of electricity (LCOE) for nuclear fuel cycle w/this handy tool:
GOP lawmakers says he quit reading Trump’s tweets, recommends all Americans do same:
Market Fresh: Get mimed-up at the Spenard Farmers Market
Spending money to save time makes you happier, by @olgakhazan
Privacy is reserved for women of means
Halliburton chairman: We should be praised like Amazon, Uber @nicoleusinclair
Egypt sentences 43 activists to life imprisonment over 2011 protests
Nine GOP senators break with party to reject key ObamaCare repeal and replace amendment
So shapeshift has delisted of 16 of its 67 tokens in the wake of the SECs decision. Panic at the exchanges
Warrant in Minnesota police shooting says woman slapped squad car
#Airbnb, Mizuho-backed venture team up to offer unusual lodgings in #Japan
Save your hero worship. John McCain is no better than the rest of his GOP colleagues.
Six Google search tips to find anything faster
Russia’s Kaspersky Lab launches free antivirus software globally
China Petrol Price Index for July: 76.9, previous: 79.6 (change: -3.6%) #WPI
They came from France to help Japanese students score their next job
Climate-friendly farming solution fizzles in #Zimbabwe : (@irinnews)
Scaramucci blasts “leak” on firing of staffer that he personally revealed to news outlet:
People sleeping outside after quake in Turkey
From Russia to Syria and Iran: Do EU sanctions really work?
Why Beijing is speeding up underwater drone tests in the #SouthChinaSea
A Water-Secure Future for Cities
Born 26 July 1875: Carl Jung, psychiatrist, psychotherapist and founder of analytical psychology.
McCain votes for ObamaCare repeal bill he vowed to oppose
Fresh US sanctions on #NorthKorea to include more Chinese targets
Cadres in Chongqing told to toe the line amid high-level corruption probe
House to vote on measures to slash CBO amid attacks on the office over healthcare scores
Do bots have constitutional rights?
Insightful What #Energy Sources Power the World? #fintech @UrsBolt #insurtech @VisualCap
India Food Price Index for July: 125.8, previous: 127.3 (change: -1.2%) #WPI
Can digital banking save the world?
Trump assistant press secretary resigns:
Specialist crew from @PebbleBeachCali Fire Dept clearing the backyard.
#Earthquake magnitude 4,8 - 53,8 km from #SanMiguel - #ElSalvador
Why is the Internet Archive preserving one mans trove of junk mail?
A blueprint for going cross-border ecommerce in 2017
Anti-Chinese posters at #Melbourne universities tied to white supremacists
Senate panel rescinds subpoena for Trumps ex-campaign head: sources
#Indonesia Foreign Direct Investment year-on-year at 10.6%
Texas legislature gives initial approval on controversial transgender bathroom bill
US Votes for Sanctions on three countries
China enters the Garden of Eden — @charmiddle @chinadialogue
Senators are caught on a hot mic mocking lawmaker who floated a duel
Check out our free interactive map of the latest onshore and offshore licensing rounds
How photography shapes our view of Native Americans
24-hour party sequel: the changing face of #Amsterdam clubbing by @thedalstonyears #travel
Nauto Raises $159 Million, Expansion Of Autonomous Vehicle Data Platform Coming
State Dept: Tillerson is taking a little time off
A $13 billion hedge fund is sounding the alarm on one of the biggest trends in investing
Libyan rivals commit to nationwide ceasefire, except in fight against terrorist groups
There may be something weird going on with Western mens sperm
Germany Petrol Price Index for July: 89.5, previous: 92.9 (change: -3.8%) #WPI
Whos to Be Blamed in Nigeria?: #Nigeria
Cardinal Pell denies abuse charges in Australian court: reports
Perry falls for fake phone call with Russian pranksters
Warren: Entire country needs to speak out against GOP ObamaCare repeal
Making room for nature in Erdogans Istanbul
Verizon earnings: Can you hear me now? Verizon’s search for success outside wireless
Rex Tillerson staying on as top US diplomat: official
The future of crew connectivity – it’s not just about the money
US says progress with #China on #NorthKorea #UnitedNations sanctions, true test is Russia
Women-led U.S. startups attract just fraction of venture money | @SebastienMalo reports
WATCH: Trump mocks protestor at rally, says hes going back to his mommy
Amendment to repeal and replace ObamaCare likely dead after needing 60 votes to pass
China Valuation Not Cheap When Banks Are Excluded $
Express Scripts says any new Anthem contract would be unfavorable
#Qatar has to market ~39 MTPA #LNG between now and 2025. 23 from expansion and ~16 from expiring SPAs.
Why Trump feels threatened by Jeff Bezos @MylesUdland
In Egypt, Islamic clerics give out edicts in the metro
Does Your City Literally Stink? There’s An #App For That | via @fastcodesign
#Saudi Arabia planning to limit #crude #oil exports to 6.6mn bpd in August
They say sex sells. They might be wrong:
Sessions to make announcement about several criminal intel leak investigations: report
Coast Guard clears kayakers on river near Trumps Virginia golf course
Trump is withholding tweets from model Chrissy Teigen
I seem to have acquired a jar of Magically Never-Ending Chervil.
Market performs better when analysts are pessimistic, imagine that
Russias #Kaspersky Lab launches free #antivirus software globally
#Earthquake magnitude 4,8 - 11,8 km from #SanJuan - #Argentina
I was thinking of selling my kidney before I received some humanitarian aid”: #Yemen
Senators mock Trump on hot mic: Hes crazy
Hennessey is pushing cognac into Kenya
Wasserman Schultz staffer arrested trying to leave the country, charged with bank fraud
US House passes Russia, Iran, North Korea sanctions bill
Russia’s Kaspersky Lab launches free antivirus software globally
4 nuclear reactors rising in Abu Dhabi
Solar PV Installations to Double by 2021 49% year-over-year growth
% of household heads who rent their home, by race/ethnicity 58 Blacks 54 Hispanics 28 Whites
Trump Justice Dept to defund cities that refuse to allow immigration agents to enter jails
Apple ordered to pay $506 million to university in patent dispute
Of course, all our plastic crap ends up in the Arctic
GOP senator secretly wrote book that will distance himself from Trump: report
Theres more major deals in the works for Michael Kors after it purchases Jimmy Choo
China to Tighten IPO Approval Process #IPO
• We are all connected.✨
UN accuses Congolese army of digging Kasai mass graves
Data science simplified: A breakdown of its key principles and processes
Scaramucci blasts “leak” on firing of staffer that he personally revealed to news outlet:
US Durable Goods Price Index for July: 76.5, previous: 76.8 (change: -0.4%) #WPI
That $SPX seasonality chart updated... $SPY $VIX
No longer a macro-driven market, they say
Rick Perry got punked in a fake interview with Russian pranksters
Donald Trump-style populism has no chance in German election #BTW2017
Andray Blatche’s absence presents an opportunity for Philippines in Lebanon #FIBAAsiaCup2017
A rare look at one of @MuseumModernArt’s first design shows
Over the past three years, Brazils jobless rate rose by more than 6 percentage points
Investment in UK fintech tops pre-Brexit levels in first half of 2017
Investment in UK fintech tops pre-Brexit levels in first half of 2017
Sessions sets limits on U.S. federal funding for sanctuary cities
Turkey is preparing to increase its debt limit for the first time since 2009
Australia Second-Quarter Consumer Prices Rise Less Than Expected
Finance New Yorks MTA will remove seats on some subways to ja #economy
India’s ambitious Housing for All plan is bumping up against some harsh realities
Rats and norovirus may not be enough to keep Chipotle down via @gadfly
SoftBank takes stake in Roomba-maker iRobot
Louis Vuittons China strategy is hard to copy
One Payment System is Needed For All Transportation
US business leaders must give Washington a wake-up call
The MTA chairman releases a plan to fix New Yorks problem-plagued subways
Australia Second-Quarter Consumer Prices Rise Less Than Expected
Exclusive: Viacom willing to make an all-cash deal to buy Scripps Networks - sources
Australia 2Q CPI Rises Less Than Expected
MORE: Senate Republican plan to repeal and replace Obamacare fails to get enough votes
Southeast Asias biggest economy has a problem with the past.
More major portions of GOP healthcare bill found to violate Senate rules:
Final decision on steel trade policy may have to wait, Trump tells WSJ
Aboard Air Force One
Chuck Todd hosts a talk show about politics
First patients transferred to #HongKong private hospital amid flu crisis
Buhari Is Homesick, Will Be Back Soon - Nigerian Governor #Nigeria
Trump assistant press secretary resigns:
A Syrian family from Palmyra experiences culture shock in small town Germany. @jcarstensen
Fox News analyst ambushed at political event: My eyes were burning
14 things we learned driving the amazing three-wheel Vanderhall Venice
Washington likely to target more Chinese entities over #NorthKorea fairly soon
Cardinal George Pell appears before Australian court to face sexual abuse charges
Video: Robot assistants roll into action at airport
JUST IN: Senate Republican plan to repeal and replace Obamacare fails to get votes needed for approval
House votes overwhelmingly to approve new Russia sanctions
McCain urges senators to trust each other
Trump turns up heat on Sessions to resign
Asiamoney Corporate Treasurer Survey 2017: Vote now #Asiamoney
oh boy
One person injured after shooting involving Secret Service
Coin Center statement on the SECs theDAO investigative report.
I guess @SenCapito decided that actually she *did* come to Washington to hurt people?
Profit Margins
Breitbart slams Trump for hypocrisy over Sessions attacks
22 surprising uses for turmeric
Lets fight illness at its source... #health #cures
Should the U.S. play hardball with China on trade?
Global Price-to-Sales...
Why scientists are racing to uncover the Greenland sharks secrets
MT @lptravelnews: Only a few months to visit the coolest shop in #Paris b4 it closes forever
Pakistan: 26 Killed in Suicide Bomb Attack Claimed by Pakistani Taliban
Caltrans Is Already Modifying California’s Roads For Self-Driving Cars
Wall Street regulator says digital coin offerings may require oversight
Perry falls for fake phone call with Russian pranksters
State Dept: Tillerson is taking a little time off
Sperm concentration has declined 50 per cent in 40 years, says study #fertility
At least a dozen dead in Mumbai building collapse, @ariabendix reports
How IS radicalizes teenagers using the internet
At Least 25 People in #SanAntonioWalmart Truck Where #Mexican #Mexico #US #immigrants #news
Bitcoins capacity increase is getting closer, but there are still some hurdles to overcome.
The atmosphere around @NASAKennedy was electric #today in 1971, the eve of the Apollo 15 launch.
Vatican Cardinal George Pell faces Australian court on sex abuse charges
Bankers are ditching their fat salaries to chase initial coin offerings
George Soros son is stepping down from the legendary fund to start his own venture
High-Flying HNA Reveals Charitable Arms as Top Two Shareholders #HNA
House overwhelmingly passes bill limiting Trumps power to lift Russian sanctions
India Recreation Index for July: 122.1, previous: 123.8 (change: -1.3%) #WPI
China Smartphone Sales Flatline #smartphone
China calls for halt to oil drilling in disputed South China Sea
Top Dem senator: We want to prevent Trump from replacing Sessions with recess appointment
Kweichow Moutai Shares Hit New High as Investors Get Drunk on Rosy Outlook #Moutai #Alcohol
WATCH: Trump mocks protestor at rally, says hes going back to his mommy
China’s Leaders Set Out Economic Agenda for Rest of 2017 #ChinaReform

Mike Shedlock

Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. He operates the blog MISH'S Global Economic Trend Analysis and believes in the Austrian School of economics.

California Ponders $3 Billion Subsidy for Electric Cars: All-Electric Europe by 2035, Worldwide by 2040?

10 days ago

Currently, less than 3% of California vehicle sales are electric.

Assemblyman Phil Ting, a San Francisco Democrat, thinks that is not enough.

To induce drivers to purchase electric vehicles, California Considers a $3 Billion Electric-Car Rebate Push sponsored by Ting.

The bill has passed the state Assembly and is advancing in the state Senate, which is expected to take up the bill once it clears a final committee next month. Gov. Jerry Brown has set ambitious goals for zero-emissions vehicles; he hasn’t said whether he would sign this bill.

A $5,000 tax credit in Georgia helped the state become the second-largest electric vehicles market in the U.S. after California until the state tax credit was eliminated in July 2015, according to Edmunds, a website that tracks automotive sales. After the change, sales in Georgia fell to 2% of all U.S. electric vehicles sold in 2016 from 17% in 2014, according to the site.

Funds for the proposed rebate will come from existing programs, Mr. Ting said, with one source being the state’s cap-and-trade program, which requires industry in California to pay for greenhouse gas emissions. That program faces a key test on Monday, with state lawmakers having scheduled a vote on whether to extend the program from 2020 through 2030.

Make the Planet Great Again

The Telegraph reports France to ‘Ban All Petrol and Diesel Vehicles by 2040’.

France will outlaw the sale of all petrol and diesel vehicles by 2040, its new environment minister, Nicolas Hulot, has announced.

It will also ban any “new project to use petrol, gas or coal”, as well as shale oil, by that date.

The radical measures were unveiled at a press conference as part of French president Emmanuel Macron’s pledge to “make the planet great again”.

Europe All-Electric by 2035

Dutch bank ING says Electric Cars to Account for All New Vehicle Sales in Europe by 2035.

All new cars sold in Europe will be electric within less than two decades, driven by government support, falling battery costs and economies of scale, a Dutch bank has predicted.

However, ING warned that with battery-powered vehicles accounting for 100% of registrations in 2035 across the continent, European carmakers would lose out to their rivals in the US and Asia who already lead on battery production.

The forecast is much more aggressive than most other projections, such as the UK’s National Grid which on Thursday said it expects 90% of new cars in Britain to be electric by 2050.

By 2024, the report’s authors forecast that in Germany the cost of ownership for an electric car – including buying and fuelling it – would be the same as a conventional petrol or diesel model.

The bank said the shift to electric will be underpinned by falling battery costs.

Motorists’ concerns over “range anxiety” will also evaporate in the 2020s, ING said, as the distance between charges goes from the 100-150 miles of most models today to 400 miles and above in the next decade.
Tony Seba, an economist at Stanford University in the US who has published research on the cars, said: “Our findings clearly indicate that essentially all vehicle miles travelled will be electric by 2040 [worldwide].

“The car industry faces an imminent technology disruption by AEVs [autonomous electric vehicles] in the early 2020s. Even without autonomous technology, the internal combustion engine car industry will have been long decimated by 2040.”

Three Questions

  1. Assuming this ambitious plan hits reality, where will all the electricity to charge the batteries come from?
  2. Assuming a battery charge will last 400 miles, up from the current 150, is that range really long enough? Here’s a quick calculation: at 70MPH the longest one could drive would be 5.7 hours.
  3. What is the recharge time?

I suppose battery-changing stations could theoretically work. So could a car swapping scheme, assuming no one owns their own car.

Even if the report is one-third-accurate, major disruptive forces in the auto industry are in play.

Mike “Mish” Shedlock