It didn't take long. Transport and Environment, finally, gets attention to its brilliant work exposing the systemic fraud happening in auto-industry. I do hope that prosecutors will pay attention not only to the former CEO of Volkswagen and all materials are available on T&E links below. Volkswagen has started its very own VolswagenGate and DieselGate was insured as nobody can really comply with the three magics together: price, performance and emissions. Now we are moving into the full blown AutoGate.
Lies are flying all around again and everybody was paying for it. I start to think that this scandal will eclipse Enron, LIBOR, Energy, Pensions, FOREX and Gold manipulations scams all together and can, actually, take down the markets with it in a big way. It touches every family, everybody drives these days in the West. Idea that we all have been played for years like total idiots will not make auto-makers and Big Oil more popular. Carl Icahn is heavy shorting the markets and his video release tomorrow will make FED run to the boats. Next QE is already on its way now.
This total mess makes me think, personally, what will it take to expose the GMO scam? And what this exposure take will be on the World Economy - total collapse?
It will not be surprising to me, personally, if Electric Cars are actually already cheaper on price and real performance value matrix. Emissions and thousands of people dying every day all across the world from the air pollution will pull the scale into EV side even more. And cheaper and better EVs are coming now with thousands of places all over the world where to charge them in 20 minutes … Who will start the FrackingGate scam to be exposed now?
Elon Musk On Volkswagen Scandal: 'We've Reached The Limit Of What's Possible' With Fossil Fuels.
Elon Musk is not dancing on the Volkswagen grave, mass media will do it of him now. He is already dealing with Diesel and Gas powered cars as a class: making more and more electric cars. Last week Tesla has opened European plant, announced talks about opening its Superchargers Network to other auto-makers and … Tesla Model S will go 600 miles on a charge in the future. Now Elon Musk talks about Lithium Battery Gigafactories in Europe. Let's bring one to Ireland!
DieselGate: The Answer - Tesla Opens First European Plant On Road To 500,000 Electric Car Target.
Elon Musk brings the answer to all The Economist questions about the future and how "to start the era of electric car". Future is already here, just not everybody has noticed. Welcome to the Tesla first European plant!
Elon Musk: Tesla Is In Talks With Other Automakers About Sharing The SuperCharger Network.
"This is the last nail in the coffin of ICE cars. Electric cars are already better, we just need to make them cheaper and Tesla's Gigafactory will make it happen. It is the major step forward if other auto-makers will be allowed to share Tesla Superchargers Network and will co-invest in rapid deployment of these Networks all over the world. We are getting very fast to the mass market for electric cars now.
Now we have to send this article to the New Volkswagen CEO, they could not find Tesla Superchargers with him at Porsche before … Read more."
The Future Of Oil: Electric Cars Have Reached The Point Of No Return With Tesla Gigafactory.
The short answer: All cars will be electric and the rest is history. If you like some details you are welcome! Read more.Join the Disruption or be Disrupted. Dump The Pump - It Is Time To Go Electric.
International Lithium And Ganfeng In "Top Lithium Producers."
International Lithium: President's Message And Private Placement.
Transport And Environment:
Some Mercedes, BMW and Peugeot models consuming around 50% more fuel than official results, new study reveals
New cars, including the Mercedes A, C and E class, BMW 5 series and Peugeot 308, are now swallowing around 50% more fuel than their lab test results, new on-the-road results compiled by Transport & Environment (T&E) reveal. The gap between official and real-world performance found in many car models has grown so wide that it cannot be explained through known factors including test manipulations. While this does not constitute proof of 'defeat devices' being used to fiddle fuel economy tests, similar to that used by Volkswagen, EU governments must extend probes into defeat devices to CO2 tests and petrol cars too.
The gap between official test results for CO2 emissions/fuel economy and real-world performance has increased to 40% on average in 2014 from 8% in 2001, according to T&E's 2015 Mind the Gap report, which analyses on-the-road fuel consumption by motorists and highlights the abuses by carmakers of the current tests and the failure of EU regulators to close loopholes. T&E said the gap has become a chasm and, without action, will likely grow to 50% on average by 2020.
By exploiting loopholes in the test procedure (including known differences between real-world driving and lab simulations) conventional cars can emit up to 40-45% more CO2 emissions on the road than what is measured in the lab. But the average gap between test results and real-world driving is more than 50% for some models. Mercedes cars have an average gap between test and real-world performance of 48% and their new A, C and E class models have a difference of over 50%. The BMW 5 series and Peugeot 308 are just below 50%. The causes of these big deviations have to be clarified as soon as possible.
Greg Archer, clean vehicles manager at T&E, said: "Like the air pollution test, the European system of testing cars to measure fuel economy and CO2 emissions is utterly discredited. The Volkswagen scandal was just the tip of the iceberg and what lies beneath is widespread abuse by carmakers of testing rules enabling cars to swallow more than 50% more fuel than is claimed."
The distorted laboratory tests are costing a typical motorist €450 a year in additional fuel costs compared to what carmakers' marketing materials claim, the report finds. But the car manufacturers are continuing to try to delay the introduction of a new test (WLTP) to be introduced in 2017.
Misleading drivers, cheating the law
On average, two-thirds of the claimed gains in CO2 emissions and fuel consumption since 2008 have been delivered through manipulating tests with only 13.3 g/km of real progress on the roads set against 22.2 g/km of 'hot air', according to the report. This means that in the last three years there has been no improvement in fuel economy from new vehicles on the road. Only Toyota would have met its 2015 target without exploiting test flexibilities whereas all the other major carmakers have met their legal limits through exploiting test loopholes.
Greg Archer concluded: "This widening gap casts more doubt on how carmakers trick their customers in Europe to produce much better fuel efficiency in tests than can be achieved on the road. The only solution is a comprehensive investigation into both air pollution and fuel economy tests and all car manufacturers to identify whether unfair and illegal practices, like defeat devices, may be in use. There must also be a comprehensive overhaul of the testing system."
Cars are responsible for 15% of Europe's total CO2 emissions and are the single largest source of emissions in the transport sector. The EU's first obligatory rules on carbon emissions require car manufacturers to limit their average car to a maximum of 130 grams of CO2 per km by 2015, and 95g by 2021."
Disclosure: I am/we are long ILHMF, TRRXF.