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Tesla and Musk Hyperloop, Oil Transition

August 12, 2013 in Electric Vehicles, EV News, Hyperloop, Tesla

Image courtesy of Tesla

Image courtesy of Tesla

Tesla stock (TSLA) opened below $150 and has been weak in morning trade.  The stock market as a whole has been edgy in recent days concerning the possibility of rising interest rates after the Federal Reserve starts tapering its stimulus.  Regardless, Tesla remains the great electric hope in a world that uses over 91 million barrels of oil a day (IEA).  Unfortunately, Tesla’s auto sales are still only a drop in a bucket in comparison to the approximate 80 million worldwide annual auto market.

WTI oil is trading slightly above $106 per barrel, which is a rather modest price considering China’s record oil imports in July.  In addition, WTI should be trading closer to parity with Brent since oil inventories at Cushing have been drawn down below 40 million barrels (EIA).  Brent oil is trading between $108 – $109.  The fourth quarter is the heaviest oil demand quarter due to the cold (heating oil fuels) in the Northern Hemisphere, so demand pressure will increase in the coming months.

How should the world transition from oil? 

Mr. Elon Musk plans to reveal his Hyperloop concept today.  As the CEO of Tesla Motors, Mr. Musk is no stranger to the oil and climate dilemmas of the world.  He may feel increasing pressure to work on his Hyperloop idea due to his own convictions.  In Europe, China and Japan, rail networks are already quite extensive and modern in comparison to the United States.  Mr. Musk has proposed that the US initiate a new form of transport, Hyperloop, which he believes would be significantly faster and cheaper than high-speed rail.

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