Auto makers have begun to produce Electronic vehicles or EV’s at a rapid pace in order to comply with Corporate Average Fuel Economy or CAFE standards. As of yesterday, another auto manufacturer has announced its 2019 entrant into the competitive EV landscape. Audi announced the global launch of their new electric sport utility vehicle, named the e-tron midsized SUV. Surprisingly enough the announcement was made in San Francisco which is the home of Tesla. It can be inferred that the “launch site” choice is a direct shot at Elon Musk’s Tesla operation and the current leader in the EV market. According to Reuters, “The Audi e-tron midsize SUV will be offered in the United States next year at a starting price of $75,795 before a $7,500 tax credit.” To further increase their chances of surpassing Tesla, Audi has chosen to partner with Amazon to tackle the recharging problems with EV’s.
Today, August 20, 2018 Greece exited its final bailout program from its fiscal crisis in 2015. In an article published by Reuters, the chairman of the ESM board of governors said, “Today we can safely conclude the ESM program with no more follow-up rescue programs as, for the first time since early 2010, Greece can stand on its own feet.” Greece has struggled over the past few years and has received multiple bail outs from the IMF. “Emerging from its third bailout since 2010, Athens will rely on bond markets to refinance its debt, officially leaving behind a crisis that shrank its economy by a quarter and forced it to implement painful austerity. Since early 2010, Greece has relied on the biggest bailout in economic history, more than 260 billion euros ($300 billion) lent by its euro zone partners and the International Monetary Fund.” The IMF has remained cautious broadcasting messages surrounding the continued monitoring of Greece and its adherence to its public restructuring plans.
Encyclopedia Britannica defines VLCCs as, “Very large crude carriers. These ships, with a length of some 330 metres (1,100 feet), have capacities between 200,000 and 320,000 dwt (Dead Weight Tonnage). They carry in the area of two million barrels.” Historically these enormous ships carry crude oil around the world including imports into the United States, but until recently the United States Gulf Coast petroleum terminals were too shallow to accommodate these vessels.
Earlier in the week Elon Musk’s Boring Company was greenlit to build a high speed transportation facility in Chicago. According to CNN, “The planned system, known as the Chicago Express Loop, will carry passengers in battery-powered vehicles through tunnels at speeds of up to 150 miles per hour. It will link downtown Chicago with O'Hare International Airport.” This all electric transportation system will be 100% privately funded and according to the Boring Company, “The Chicago Express Loop is three to four times faster than existing transportation systems between O’Hare Airport and downtown Chicago.” It seems that fantasy is starting to mesh into reality.