Tesla Relief in Peak Oil 2.0
August 19, 2013 in Electric Vehicles, EV News, Oil, Tesla
Photo courtesy of Tesla
Tesla stock (TSLA) closed at $144.90 per share, up 2.04% on the day, which was a great performance considering that the overall market was down. The Dow finished at 15,011, off 71 points. Rising interest rates, high oil prices and weakening Asian currencies were giving investors indigestion. However, there is relief on the horizon, the new electric era.
Tesla tweeted 8-17-13: “Model S has taken on the Autobahn! Our first Swiss deliveries have begun.” As Tesla expands around the world, the applause is likely to get louder. High oil prices are taking a toll on Asia, most particularly India.
Is there hope for India?
India’s currency, the Rupee, has fallen sharply in recent trade to 63.13 to the US Dollar. The country will likely be facing tougher inflationary troubles in the months ahead, especially if the currency continues to slide as it did last night (down 2.37%, according to Bloomberg Asia-Pacific currencies). The Indian government has to restore confidence by addressing the causes of its national trade deficit. Most importantly, India must wean itself off oil. The number one priority of the country should be building electrified mass transport. With a population of approximately 1.237 billion (2012 World Bank), India has a big energy problem requiring massive investment.
Over the long-term, the currency markets are going to punish, one by one, the weakest oil importihttps://evnewsreport.com/files/tag/ng nations. this is round two of peak oil 2.0, the peak oil sharing globe. there are countless efforts around the world on developing and implementing new energy technologies to stave off peak oil. india does not need to look far for answers; there are abundant resources online (sharing economy). Why not build a Hyperloop? India needs to be bold.
WTI oil is trading around $107, and Brent is near $110. Weakness in India has already spread to other Asian markets, causing most Asian currencies to decline. At the same time, the US Dollar is being supported by rising interest rates. The 10 year US Treasury yield has risen to 2.88%.
