In a move that underscores the potential of China’s auto market - as well as the viability of so-called “green” technology - investing guru Warren Buffett’s MidAmerican Energy Holding Co. will pay roughly $230 million for a 10% stake in BYD Co. Ltd., a Chinese producer of both cars and specialized batteries.
The crisis on Wall Street has effectively stopped funding for alternative energy projects.
But an even bigger problem has been the coming expiration of energy tax credits for the manufacturing, production and use of alternative energy systems and devices at the end of 2008. This situation has now changed with the $18 billion Renewable Energy and Job Creation Act of 2008.
David Fessler at Investment U says three alternative-energy ETFs should see “big moves” in the remainder of 2008 and in 2009 on the back of the bill.
I begin today with a startling number: 5.2. That’s the percentage my gas mileage improved when I added Pulstar Pulse Spark Plugs to my 1991 Mazda Miata.
What will it take for the U.S. to get a stable and affordable energy supply? A lot, says Byron King. The country is still dependent on carbon: coal, oil and natural gas provide 87% percent of its energy.
It’s not just a question of renewable energy and nuclear – you need to factor energy efficiency in there too, as well as improving the grid.
And as the transformation occurs there will be plenty of opportunities to profit. SunPower (SPWR), the largest U.S. solar-panel maker, recently reported 2Q net profit of $28.6 million, or 34 cents per share, compared with a loss of $5.3 million, or 7 cents per share, in the year-ago period. Definitely one to watch…
With US gas prices over $4 a gallon, Investor’s Daily Edge’s Charles Delvalle isn’t surprised the auto companies are hurting. Half of their sales still come from pick-ups and SUVs…
The outlook for US auto companies certainly isn’t looking good. Yesterday, Fitch Ratings downgraded GM and Chrysler’s investment ratings to from a B to a B-.
Both companies now have a negative outlook, meaning they could be downgraded further. Ford Motor Co’s rating is being reviewed.
Honda has launched production of a new zero-emission hydrogen fuel-cell car, the FCX Clarity.
The family-sized car runs on electricity and emits only water vapour. Honda says the car has twice the fuel efficiency of existing hybrid vehicles – but it only plans to produce 200 over the next three years.
“We live in a world of peaking oil output, and of energy and resource scarcity,” says William Patalon III in Money Morning…
It has taken three straight years of declining profit for General Motors Corp. (GM) to realize it is no longer on the cutting edge of the world’s automotive market.
High gas prices — now at about $4 a gallon — are triggering a surge in hybrid-car sales in the US. This from the LA Times:
Although hybrid cars account for only about 3% of U.S. car sales, their share is growing rapidly. Sales of hybrid cars surged 25% during the first four months of this year compared with the same period last year. And the pace accelerated last month, when sales jumped 58%. That outpaced the overall April sales gain of 18% for small fuel-efficient cars and comes as total new-vehicle sales are slumping.