Environment

Last month we noted that Tesla really outdid itself in 2Q 2017 by posting a record cash burn of $1.2 billion, or roughly $13 million every single day.  Per the chart below, Tesla's Q2 cash burn was just a continuation of the company's money-losing trend that goes back at least 6 years and seems to be getting worse with each passing quarter.

But Tesla isn't alone in burning cash on "EV's" as pretty much every electric vehicle offered to customers loses money on a per unit basis.

In a revelation that, for some, will dredge up memories of TEPCO’s stunning admission back in 2013 that nearly 300 tonnes of radioactive material had leaked from the ruins of the Fukushima Daiichi nuclear-power plant into the water outside, contaminating virtually the entire Pacific Ocean, officials at the Japanese power company told the Associated Press that contaminated water may have leaked into the soil surrounding the plant after human error caused safety mechanisms to fail.

San Francisco Assemblyman Phil Ting would like for you to know that he has every intention of introducing new legislation in 2018 that will (i) make it much more difficult for low-income Californians to buy affordable vehicles and (ii) increase greenhouse gas emissions.  Of course, Ting didn't word it in exactly that way but his proposal to ban combustion-engine vehicles will inevitably result in both of the unintended consequences above.

Hurricane Irma destroyed half of Florida’s citrus crop when it tore through the state earlier this month, as we reported earlier this month. The state’s orange growers at the time described the damage from the storm as the worst they’d seen in their lifetimes, as we reported at the time.

Many of the affected groves of oranges and grapefruits were approaching harvest, too – and their destruction helped send the price of orange concentrate futures rocketing higher.

According to data from The Danish Meteorological Institute, since hitting its earliest minimum extent since 1997, Arctic sea ice has been expanding at a phenomenal rate.

http://ocean.dmi.dk/arctic/icecover.uk.php

As notalotofpeopleknowthat blog details, it is already greater than at the same date in 2007, 2008, 2010, 2011, 2012 and 2015.

Put another way, it is the fourth highest extent in the last ten years.

ftp://sidads.colorado.edu/DATASETS/NOAA/G02135/north/daily/data/