In the third quarter of 2023, Ford dropped one place — to fourth — in the U.S. electric vehicle sales charts despite its $30 billion investment in electric vehicles, with the company, losing over $100,000 on each EV sold. Ford’s disappointing performance is highlighted by the fact that mega-rival General Motors has overtaken it in…
Florida’s orange crop is facing its worst decline in years, exacerbated by recent hurricanes such as Helene and Milton. The state, which supplies 53% of U.S. oranges, will likely see skyrocketing prices for oranges and orange juice. The agricultural impact of climate change extends beyond Florida; the Midwest has also experienced severe weather, including tornadoes,…
Around two billion tons of sand and dust are entering the atmosphere annually, driven largely by drought conditions worldwide. And high winds can carry this dust up to 5,000 miles, meaning sandstorms from places like the Sahara can impact areas as far away as New York City. This growing issue not only decreases air quality…
Hurricane Milton has revealed a critical vulnerability in green energy infrastructure. In Florida, solar arrays were destroyed and wind turbines both onshore and off face risks of being damaged by high winds. The cost of rebuilding these green energy installations is high; in addition, they are not designed to withstand extreme weather conditions. This all…
With six weeks left in the Atlantic hurricane season, the risk of more destructive storms is high. Recent hurricanes, Helene and Milton, have already caused billions in damage, and conditions—like the record-high 90°F waters in the Gulf of Mexico—suggest more hurricanes will form before November 30th. Future hurricane seasons are expected to bring even more…
Real estate values along Florida’s western coast, especially south of Tampa, are plummeting due to repeated hurricane damage and increasing storm risks. Homes destroyed by hurricanes Helene and Milton are nearly impossible to sell, and the widespread lack of home insurance adds to the problem. This trend is spreading to other coastal areas, driven by…
Falling oil prices, created in large part by a weak Chinese economy, are making gasoline-powered vehicles more attractive to consumers. With prices in some states below $3 per gallon, many are reconsidering the switch to electric vehicles. Meanwhile, conventional cars tend to be cheaper, avoid range limitations and have easier access to fueling, all of…
Hurricane Milton’s damage is expected to reach $180 billion, according to AccuWeather, with the storm having severely affected high-value areas such as Tampa, where homes, businesses and a stadium were destroyed, in whole or in part. It also ravaged Florida’s orange crops, Orlando’s theme parks and spawned deadly tornadoes as far southeast as Palm Beach….
EV charging times are a significant barrier to widespread adoption, with most home chargers taking several hours to add a full dose of power. Meanwhile, public chargers tend to be quicker but still take 30 minutes for an 80% charge that only offers about 250 miles of range. This inconvenience contrasts sharply with the quick…
Disney World sustained minimal damage from Hurricane Milton, thanks to its strategic infrastructure upgrades, the company having reinforced buildings with concrete and steel, and designed much of the park to withstand high winds and hurricanes. Disney’s proactive storm preparedness offers a valuable lesson for other businesses in Florida as the state faces more frequent severe…
As climate disasters intensify, people are rethinking where they live, with many considering moving from high-risk areas like Louisiana, Florida, and Houston to safer regions like Michigan and Ohio. Concerns about home destruction, insurance and personal safety are driving this trend, which is expected to grow as storms worsen, leading to what could be mass…
Mercedes-Benz has seen a 31% drop in global EV sales during the first three quarters of 2023, highlighting the challenge traditional automakers face as they compete with Tesla and emerging brands in markets like China. The German car giant and other legacy automakers must now decide whether to keep investing in EVs or refocus —…
For the first time in 50 years, there is considerable rainfall in Morocco’s portion of the Sahara Desert. with experts pointing to climate change for the phenomenon as it alters weather patterns. However, local infrastructure, such as roads and buildings, have not been built to withstand these conditions, forcing nations like Morocco to rethink how…
General Motors’ CEO Mary Barra has claimed that the company will soon be profitable with electric vehicles, but skeptics question the timeline. GM has already invested tens of billions into EVs, but similar to Ford, which lost $100,000 per EV last year, GM is unlikely to see profits soon unless they reduce production costs, particularly…
GM may have a better chance of success in the EV market than Ford, according to some analysts. Ford, already deep into the EV business with its F-150 Lightning and Mustang Mach-E models — plus a van, the E-Transit — holds a branding advantage, despite losing $100,000 per EV sold. But GM has more models…
Hurricane Milton, a Category 5 storm that barreled into Florida at a still-strong Category 3, is likely to have caused $175 billion in damage along the state’s west coast. The rapid intensification of storms like Milton, fueled by increasingly warm Gulf waters — which have reached 90 degrees — highlights the growing threat of these…
Hurricane Milton underscores a growing safety concern for electric vehicles (EVs) in flood zones — that when they are submerged in saltwater, as might happen during major hurricanes with severe storm surges, their batteries risk catching fire and/or exploding. As hurricanes become stronger, this issue will likely intensify for coastal residents, prompting either a solution…
Green energy projects, such as wind and solar, are now receiving more affordable financing due to recent Federal Reserve interest rate cuts and increased demand for clean energy. Utilities are shifting away from fossil fuels, while growing energy demands from industries such as Bitcoin mining and AI are further boosting the sector’s prospects.
Hurricane Milton is expected to have damaged or destroyed up to 500,000 homes in Florida, with replacement costs reaching $85 billion, according to CoreLogic. Most of the affected homes are located in the Tampa area and nearby regions where nearly four million people live.
A new International Energy Agency report reveals that the world will fall short of its renewable energy target for 2030, achieving only 2.7 times growth instead of the projected three times. Meanwhile, with energy demand set to increase, driven in part by AI and Bitcoin mining, reliance on fossil fuels like coal and oil will…
Hurricane Milton is expected to cause more than just structural damage in Florida because the storm will likely impact areas with oil and chemical storage facilities, posing a severe environmental threat. Flooding or wind damage could cause dangerous chemicals to leak, contaminating the soil and air. Some of these substances, known as “forever chemicals,” have…