Tesla has a market value of nearly $48 billion, making it one of the 150 most valuable companies in America. Yet Nomura Instinet analyst Romit Shah today put out research saying that Tesla is "no longer investable."
The reason: What Shah refers to as "the erratic behavior of Elon Musk."
Visible satellite loop of Hurricane Florence on Sept. 11, 2018 as of 4:05 pm ET. Image: NOAA via CIRA/RAMMB
The latest projections predict Hurricane Florence could stall just off the North Carolina coast, dumping feet of rain inland while sustained hurricane force winds complicate rescue and recovery efforts.
The big picture: "North Carolina has been hit by only one other Category 4 storm since reliable record keeping began in the 1850s. That was Hurricane Hazel in 1954," the AP's Emery Dalesio reports.
Hackers can easily clone key fobs on Model S Teslas sold before June, according to researchers at KU Leuven university in Belgium.
The details: As the researchers outlined to Wired, the old key fobs used 40-bit encryption. "40-bit" describes the size of the cryptographic key used to secure the system. Each bit makes it exponentially more difficult to hack.
The Environmental Protection Agency announced Tuesday it was easing up on requirements for oil and gas producers and making other changes to an Obama-era rule cutting emissions of methane, a potent greenhouse gas, as it works toward a broader repeal in the coming months.
Why it matters: Methane is a potent greenhouse gas that’s also the primary component of natural gas. It’s sometimes purposefully or inadvertently leaked in the production and transport of the fuel — and when drilling for oil. The EPA has been slow in its approach toward rolling back Obama-era methane rules.
Early stage venture capital is increasingly flowing into electric vehicle companies, especially China-based firms, the International Energy Agency writes in a commentary.
By the numbers: Check out the chart above, which shows $3.45 billion of early stage VC money so far this year going into transportation-related startups.
Since 2015, Europe's natural gas market has shown strong demand growth driven by economic recovery, an increasingly gas-reliant power sector and unseasonable weather patterns that have increased the continent's heating and cooling needs.
The big picture Recent trends suggest the market is not only growing but also diversifying its suppliers, routes and delivery forms. There's considerable push for further liberalization to provide greater transparency and market-based pricing, features that attract competition and increase exporter interest. The growth thus provides a way to both decarbonize Europe's economy and fortify its energy security.
The National Hurricane Center has issued a hurricane watch for the coasts of North and South Carolina, as Hurricane Florence barrels toward the East Coast of the United States.
Hurricane Florence is a nightmare storm for the Carolinas and Mid-Atlantic. The reasons stem from the hurricane's power, size, forward speed and the longstanding vulnerability of the area it is forecast to hit. Click here for the latest updates on the storm.
The big picture: There are no historical analogs to compare Florence to. Its forecast track is unprecedented, and its array and magnitude of threats are as well.
As of 5 p.m. ET, Hurricane Florence had maximum sustained winds of 140 mph. The official intensity forecast has been raised — now calling for it to peak as a Category 5 storm before weakening slightly as it makes its approach to the coast.
The big picture: Florence poses extraordinary risks for the East Coast, from storm surge flooding at the coasts, to high winds inland and potentially deadly inland flooding. As of 5 pm ET, the National Hurricane Center said the storm's hurricane force wind field had doubled in size in the past 12 hours.
Hurricane Florence, currently a Category 4 storm, is going through an astonishingly rapid intensification process, and could hit anywhere from the Carolinas to the Mid-Atlantic by Thursday or Friday.
Driving the news: As of 5 pm ET, Hurricane Florence had maximum sustained winds of 140 mph. The official intensity forecast has been raised — now calling for it to peak as a Category 5 storm before weakening slightly as it makes its approach to the coast. All eight of South Carolina's coastal counties will face a mandatory evacuation beginning at noon Tuesday, per The State.
California passed a new law Monday that calls for the state to get 100% of its electricity from carbon-free sources by 2045, the AP reports.
What to watch: The bill will likely face two key challenges — finding reliable, long-term energy and pushback from "not in my backyard" landowners, former energy Secretary Ernest Moniz told Axios energy reporter Amy Harder. Go deeper with more from the interview.
Hurricane Florence is intensifying at an astonishing pace as it takes aim at the East Coast of the United States — and astronaut Ricky Arnold got an incredible view.
The details: Arnold, currently on board the International Space Station, snapped pictures of Florence this morning, as Tropical Storms Isaac and Helene also soon came into his view.
1,023 megawatts of community solar have been installed in the U.S. as of Q1 2018, according to a recent report, enough to power roughly 150,000–200,000 homes. Massachusetts, New York, Minnesota and Colorado are leading the way in providing community solar resources for their communities.
The details: Community solar refers to both community-owned solar installations and third-party-owned installations that allow anyone in the area to access the energy and , in some cases, obtain energy credits toward their electric bills. People who cannot afford solar installations or do not own the necessary real estate (renters, homeowners with shady rooftops, etc.) can participate and request clean energy through local utilities if community projects are available nearby. Several subscription models exist, from buying a share of panels in a solar farm to simply tapping into the power generated.
DENVER — A fight underway here in Colorado over a ballot initiative curtailing oil and gas drilling is NIMBYism at its most stark.
Why it matters: NIMBYism — "not in my backyard" opposition — is as old as time and often has a negative reputation. But in the case of Colorado, it shouldn’t. It’s the surprisingly simple result of a growing population and oil drilling encroaching on each other. It's a national symbol of both the economic benefits of drilling and its understandable drawbacks to nearby neighborhoods.
Kaiser Permanente, the multi-state network of hospitals, doctors and health insurance, is buying significant amounts of renewable energy and building solar and wind farms in an effort to be carbon-neutral by 2020, CEO Bernard Tyson said in an interview.
The big picture: The health care industry will have to be part of climate change solutions, given that it accounts for about 10% of U.S. greenhouse gas emissions.
