2022-08-09

China and EV batteries

That's because most EVs run on lithium-ion batteries that are mostly made in China. The nation has a lock on some 76 percent of the battery market today (the US only represents 8 percent). And to get a deal passed in a deadlocked Senate, Democrats agreed to provisions that would require eligible vehicles to use batteries that are made in North America.

The Inflation Reduction Act of 2022, which passed the Senate this weekend in a party-line vote, would require batteries to have at least 40 percent of materials sourced from North America or a US trading partner by 2024 in order to be eligible for a $7,500 tax break. By 2029, battery components would have to be 100 percent made in North America.

Batteries that contain minerals that "were extracted, processed, or recycled by a foreign entity of concern," which is defined as a state sponsoring terrorism or countries blocked by the Treasury Department's Office of Foreign Assets Control, would be ineligible for the credit. China is listed as a "foreign entity of concern" by the federal government.

Democrats, including West Virginia Senator Joe Manchin, who negotiated the deal in secret with Senate Majority Leader Chuck Schumer, are running on a tough-on-China message this year. But the auto industry says that the new requirements would basically disqualify every EV on the market today.

According to the Alliance for Automotive Innovation, the auto industry's main lobbying group, there are currently 72 EV models available for purchase in the United States, including battery, plug-in hybrid, and fuel cell electric vehicles. Of those models, 70 percent are ineligible for the tax credit when the bill passes. And by 2029, when the additional sourcing requirements go into effect, none would qualify for the full credit.

No electric vehicles on the market today qualify for the new EV tax credit - The Verge

2022-08-06

Andor is doing something very risky

Inflation: Last Week Tonight with John Oliver

People tend to blame everything except the fiat currency.  The technical definition of inflation is an increase in the money supply, not price increases.  From January 2020 to December 2021, the Money Supply went up 40%.  Although the effect is not immediate, we should be looking for a 40% increase in prices as a result, or at least close to it.

https://www.youtube.com/watch?v=MBo4GViDxzc

2022-08-03

"People’s Rights are Disappearing," 'Star Wars' Show Introducing "Trumpian World" - Inside the Magic

Fiona Shaw shared with Empire that series writer Tony Gilroy has infused a "Trumpian" theme into the show:

"Tony has written a great, scurrilous [take] on the Trumpian world. Our world is exploding in different places right now, people's rights are disappearing, and Andor reflects that. [In the show] the Empire is taking over, and it feels like the same thing is happening in reality, too."

2022-08-02

San Francisco beating of Elderly

I assume that the attack was racially motivated.  Anyone who conducts such a violent racial attack doesn't deserve to be called an American.  If it were up to me, people who perpetrate heinous racially motivated attacks, regardless of the race of the people involved, deserve to lose their citizenship.  That's probably unconstitutional, but I think that we should draw a line that you cannot cross.

2022-07-17

The Governments Hidden Plan To Raise Gas Prices | Not About Oil

About 2/3 of the points made by Mark Moss about the current energy crisis are things I have heard before.  However, his other points contain a great deal of good information on how government regulation is messing up the energy sector.

He gets a little conspiratorial by suggesting that the government wants to nationalize the oil industry, without definitely coming to this conclusion.  However, his support for this idea is extremely weak, and I have little reason to believe it.

https://www.youtube.com/watch?v=bY46elZFKmc