Tesla Hyperloop and Oil
August 13, 2013 in Electric Vehicles, EV News, Hyperloop, Tesla
Tesla Model S
Image courtesy of Tesla
Tesla stock (TSLA) sold off at the end of the day, closing at $145.43 per share, down 1.32%. Interest rates jumped; the 10 year Treasury is trading at 2.71%. Some market strategists are increasingly concerned that stocks will face headwinds with rising interest rates.
The famous stock picker, Ken Heebner, of Capital Growth Management took a position in Tesla in the second quarter. Bloomberg reported: “Heebner bought 215,000 shares in Tesla, the electric-car company led by Elon Musk.” In an interview 4-12-13 on WealthTrack, Mr. Heebner expressed that he is a stock market bull due to the strong US economy with particular emphasis on the rebounding housing market. He believes interest rates will rise, but he thinks investors will shift bond market monies to stocks.
Mr. Elon Musk released his Hyperloop design yesterday: http://www.teslamotors.com/blog/hyperloop.
Due to the high estimated costs and relatively slow speeds of the LA – SF high-speed rail project, there is much hope that Mr. Musk will proceed in some form with his Hyperloop design. The Hyperloop would most likely drive more long-term economic benefit for the United States, because it is a leading technology, which could ultimately change worldwide transport. It would be foolish not to trial the technology.
Yes, many people around the world enjoy the comfort of train travel. However, the world needs to be focused on energy efficiency, utilizing the most appropriate technologies to facilitate the movement of large numbers of people and goods.
Libya reminds us again today that the oil market is unreliable and unstable. Reuters reported: “Libya’s state National Oil Corporation said in a statement to shippers it could not provide September loading schedules, normally due by now, as on-again, off-again strikes paralyse its ports.” WTI oil has moved up to $106.5 per barrel, and Brent is around $109.5.
Courtesy of EIA
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