As what the Weather Channel has been calling Winter Storm Elliot — and has any other media outlet picked up on the Channel’s naming of ‘winter storms? — is blasting through the lower 48, there are all sorts of interesting news items.
Remember: as the #ClimateCrisis activists insist that everyone convert away from fossil fuels and go to electric heat, with overhead power lines, electricity is our most weather-vulnerable utility.
— Dana Pico (@Dana_TFSJ) December 23, 2022
It’s 2º F at the farm right now, but the wind chill is around -19º. Mochi, our half-chocolate lab, half-Australian shepherd, keeps wanting to go out, but she doesn’t stay long.
But, of course, after 4½ days without power our first winter here, we installed the propane fireplace, and it does not depend on electricity to run. There is a circulating fan which does use regular power, but activating the fire itself depends on four AA batteries, so if the power goes out, the stove itself still works. Though thousands of people across the Confederacy have lost power, we have not. All of our utilities, electricity, water, satellite TV and internet are still operational!
Well, if the oh-so-serious global warming climate change activists want everything to be all-electric, no fossil fuels, this article from Barrons lets us know that not everybody seems to agree:
Ford Raises Prices for Electric F-150 Lightning Trucks Again. Investors Don’t Like It.
by Al Root | Friday, December 16, 2022 | 1:47 PM EST | Updated: 2:15 PM EST
Ford Motor has again raised the price of its popular electric pickup truck, the F-150 Lightning, and investors don’t seem to approve.
The market response to the move shows how auto makers are stuck between a rock and a hard place. Price cuts have triggered selloffs of EV makers’ stocks recently. Now a price increase is doing the same.
The cost of the electric version of Ford’s most popular pickup truck has climbed 40% in roughly eight months. The base price of a F-150 Lightning now stands at about $56,000, according to the company’s website, up from a base price of $52,000 set in October. The October price was an increase from a previous price of $47,000, and when the vehicle went was first delivered in May on sale, the base model cost about $40,000.
The Ford move stands out because, generally, prices for electric vehicles have been coming down. Tesla (TSLA), and others, cut prices in China in the fall, and their shares tumbled. Tesla is also offering U.S. car buyers $3,750 off to take delivery of a Tesla by the end of 2022; its stock has declined about 29% since the China price cuts in October, though CEO Elon Musk’s new role at the helm of Twitter (TWTR) has played a part as well. Car investors have feared weaker demand for EVs could lead to lower profit margins and earnings. But they apparently don’t like price increases, either. . . . .
F-150 prices have been going up for a few reasons. Raw material prices are up, and demand for the vehicle has been strong. Ford says it has about two years of reservations for the electric truck in its backlog. A Ford spokesman confirmed the price increases Friday, citing normal business planning, rising costs, as well as strong demand.
It took awhile, but here we get to the money line:
Pricing can’t go up forever, and investors are clearly worried that higher prices will dent consumer demand for the truck. Demand in the broader EV market has been a concern for a while. Morgan Stanley analyst Adam Jonas, RBC analyst Joseph Spak, and Goldman Sachs analyst Mark Delaney have warned investors that EV demand is softening.
Demand is softening. More, prices for electric vehicles have been coming down not because the automakers are generous, but because the demand for the things isn’t what they anticipated. With the federal government offering subsidies for the purchase of plug-in electric vehicles, a real, if somewhat delayed incentive, demand still isn’t there.
And that’s pretty much true of everything. Even the liberals in very blue New England seem to want fossil fuels for their own homes, and despite the attempts of the global warming climate change activists to ban gas ranges, we have previously noted that “it seems that everybody, including the cooking show stars, wants a gas range.”
But hey, when the activists get their way, we’ll just have to accept that some Americans will die when their electric only heat sources don’t work because snow and ice and bitterly cold temperatures have brought down power lines! After all, it’s for our own good!