Did Tesla pay back their loan, or did other people. Wanna guess? WSJ(5/23/13) reports: “Tesla’s biggest windfall has been the cash payments it extracts from rival car makers (and their customers), via its sale of zero-emission credits. A number of states including California require that traditional car makers reach certain production quotas of zero-emission vehicles—or to purchase credits if they cannot. Tesla is a main supplier… A Morgan Stanley MS -1.82%report in April said Tesla made $40.5 million on credits in 2012, and that it could collect $250 million in 2013. Tesla acknowledged in a recent SEC filing that emissions credit sales hit $85 million in 2013’s first quarter alone—15% of its revenue, and the only reason it made a profit… Take away the credits and Tesla lost $53 million in the first quarter, or $10,000 per car sold. California’s zero-emission credits provided $67.9 million to the company in the first quarter, and the combination of that state’s credits and federal and local incentives can add up to $45,000 per Tesla sold, according to an analysis by the Los Angeles Times.”
Believe it or not, there are plenty of things to remain optimistic about in this world. Among others, you’ve got puppies, bacon, and The Hangover III hitting theaters. IER (5/23/13) reports: “Air quality in the United States is getting cleaner, but sadly many Americans believe the opposite. In order to explain the reality of America’s improving environmental quality, Steven Hayward has spent years compiling environmental data with his Almanac of Environmental Trends. Recently he released an update using data from the Environmental Protection Agency to chronicle the astonishing reductions in air pollution in the last few years alone.”
Sun, sun, sun, here it comes. MPR News (5/14/13) reports: “The Minnesota House and Senate have agreed to an energy bill that includes a 1.5 percent solar energy standard for investor-owned utilities… The House version of the bill had required investor-owned utilities to provide at least 4 percent of their power through solar generation by late 2025. The Senate had approved a bill that included a 1 percent solar standard.”
Are these bozos so close to the issue that they can’t see how simple it really is? We could hire a senior in high school to do this study and save the government and American people a lot of time and money. Here’s a hint – free trade is good for everyone. The Daily Caller (5/23/13) reports: “The newly confirmed Energy Secretary Ernest Moniz has announced he will delay the final approval of 20 applications to export liquefied natural gas until he reviews studies on the impact exports would have on domestic natural gas prices… ‘I want to do, as I promised to Chairman Wyden, to make sure that we are using up-to-date data and then we want to go forward on a case-by-case basis … in terms of evaluating licenses in as expeditious a way [possible], consistent with that review process,’ said Moniz, according to The Hill.”
Apologies in advance Dan and Dan, but here’s the winner of the caption contest… Thanks for all the submissions!
The following think tank chiefs are opposed to a carbon tax. Please contact us at nocarbontax@energydc.org if you wish to join our growing ranks.
Tom Pyle, American Energy Alliance / Institute for Energy Research
Myron Ebell, Freedom Action
Phil Kerpen, American Commitment
William O’Keefe, George C. Marshall Institute
Lawson Bader, Competitive Enterprise Institute
Andrew Quinlan, Center for Freedom and Prosperity
Tim Phillips, Americans for Prosperity
Joe Bast, Heartland Institute
David Ridenour, National Center for Public Policy Research
Michael Needham, Heritage Action for America
Tom Schatz, Citizens Against Government Waste
Grover Norquist, Americans for Tax Reform
Sabrina Schaeffer, Independent Women’s Forum
Barrett E. Kidner, Caesar Rodney Institute
George Landrith, Frontiers of Freedom
Thomas A. Schatz, Citizens Against Government Waste
Bill Wilson, Americans for Limited Government
Wayne Brough, FreedomWorks
Rich Collins, Positive Growth Alliance
Craig Richardson, American Tradition Institute