Tesla stock crashes due to possible loss of tax credit

The stock of Elon Musk’s Tesla electric car company crashed this week, dropping 7% on Wednesday, with the revelation that the Republican tax plan proposes eliminating the $7,500 tax credit for buying an electric car.

Its share price fell more than seven per cent to about $296 apiece from Wednesday’s $321. The draft law emerged as the Elon-Musk-led automaker announced its worst-ever quarter, recording a $671m loss and admitting it had not met its production target for its new Model 3 car, producing just 220 of them against its 1,500 target.

Economists believe that the tax credit is a key driver for electric car sales, and cite the example of when the state of Georgia cut its $5,000 tax credit and saw sales of electric cars slump from 1,400 a month to just 100 a month in response.

What this story highlights is that electric cars are simply not economical at this time, and that the government is distorting the market by pushing them. Without government aid, practically no one would buy them.

It would be far better for everyone to let the market decide. Not only would this save us tax dollars, it would allow the industry to focus its innovative efforts on upgrades that are cost effective and profitable, rather than on pie-in-the-sky fantasies that actually do no good at all.

Hat tip Wayne DeVette for pointing me to this story.

18 comments

Builders of Ghana’s first satellite push for government help

The new colonial movement: The student engineers who built Ghana’s first satellite, GhanaSat-1 and launched in July, are pushing their government to establish the legal framework for future space activities in that country.

Student engineers behind the successful launch of Ghana’s first satellite into orbit have appealed to the government to set up a multi-stakeholder committee to come up with an act, the Ghana outer space act, a key requirement that would enable the country to ratify and sign the United Nations Outer Space Treaty.

They said if the country signed and ratified the treaty, it would give investors the signal and confidence that the country was ready for them to come and establish space science facilities.

The description in the article of what these students want suggests they do not quite understand the ramifications of all the UN space treaties, because it appears they also want Ghana to become signatories to them all. This would be a big mistake. While every country that launches satellites is a signatory to the Outer Space Treaty, very few have signed the Moon Treaty, as its language puts far more serious restrictions on property rights.

0 comments

China says Long March 5 will resume launches in 2018

The new colonial movement: Though the details are vague, a Chinese official said earlier this week that they now expect to resume launches of their Long March 5 rocket in 2018.

The article says that the July launch failure of the second Long March 5 was due to “a manufacturing defect affecting one of two YF-77 engines powering the first stage. If officially confirmed, this would mean no major effects such as redesign are required, meaning a relatively swift return to flight.”

The long delay since July however suggests to me that the defect was more serious, and has either required that redesign or a complete recall of all YF-77 engines.

1 comment

Local tribe signs deal for Australian spaceport

Capitalism in space: An aboriginal tribe tribe in Australia has signed a lease with a new space company proposing to build a spaceport on their land where smallsat rockets can launch.

The Northern Land Council has granted a 275-hectare lease in northeast Arnhem Land to the Gumatj clan for use as a commercial rocket launching facility. That’ll pave the way for Gumatj Aboriginal Corporation to sublease the site to Equatorial Launch Australia, a firm whose $236 million space base proposal is being considered by federal and NT infrastructure funds.

The 12-year lease has an option for a 28-year extension, and is expected to be finalised later this month.

This is the first I have ever heard of Equatorial Launch Australia. Their website provides little information. Further web searches revealed little as well. My impression is that it is focused on creating a spaceport for the use of new Australian smallsat rocket companies. Whether it plans to launch its own rocket is unclear.

1 comment

Saudi minister calls for “toppling” Hezbollah

Intriguing: The Saudi state minister for Gulf affairs has called for the “topplng” of Hezbollah, condemning that organization as “a party of Satan.”

He also said that “The coming developments will definitely be astonishing.”

While there have always been strong differences and hostility among the many Arab nations and movements in the Middle East, rarely have these differences been expressed so publicly and forcefully. Read the whole article. The things this powerful official says could not be said if he did not have the support of his government. I wonder if this indicates some major shifts are about to occur in the Arab world.

7 comments

Human errors and lax management caused Navy collisions

A new Navy report blasts bad management, lax standards, poor training, and numerous human errors for the ship collisions that occurred last summer.

The long list of errors by the crews, some as simple as failing to sound the standard warning blasts when it appeared they would approach other ships too closely, suggest that no one in the Navy’s upper ranks is following the Navy’s own operational guidelines. They are improvising wildly, while doing nothing to prepare their crews to act properly.

15 comments

Factional bickering dominates nomination hearing for NASA administrator

Quite boring. Factional bickering yesterday between Democrats and Republicans dominated the nomination hearing of Congressman Jim Bridenstine (R-Oklahoma) for NASA administrator.

Today’s contentious nomination hearing for Rep. Jim Bridenstine (R-OK) to be NASA Administrator was split along partisan lines. Democratic Senators questioned his credentials and viewpoints about climate change, sexual harassment and other issues that could affect how he runs the agency and its personnel. Republicans defended him and chafed at the tenor of the hearing. The committee could vote as early as next week on whether to send the nomination to the full Senate.

I did not watch the hearing because I knew this would be what I’d see and I didn’t want to be bored for two hours. It ain’t news anymore to find Democrats opposing anything proposed by the Republicans. Furthermore, it doesn’t matter. Bridenstine will almost certainly be approved along partisan lines in the Senate, and nothing I have read about him suggests he is going to do anything significant or radical. He has made it clear, both in recent interviews and articles as well as his testimony yesterday as reported by numerous articles that he does not wish to rock the boat. He supports all of NASA’s current programs, commercial space, SLS/Orion, climate research, everything. I do not expect him to make any radical changes in the direction NASA is going.

In fact, the people who will change NASA are not even in the government. I expect the actions of Elon Musk and Jeff Bezos to have far greater impact in the coming years, with politicians and bureaucrats in NASA forced to follow them, as they have been forced to follow Musk during the past half decade.

0 comments

Another Vostochny manager on trial for embezzlement

The Russians are prosecuting another manager at Vostochny for stealing more than $10 million.

[O]ut of 765 million rubles ($13 million) allocated under the contract with Federal State Unitary Enterprise Spetsstroytekhnologii, Tolstikov had only 100 million rubles ($1.7 million) left. The rest, according to him, he spent for construction trailers for workers.

It is amazing anything has been built at Vostochny. This case is in addition to the more than half dozen other embezzlement cases totaling almost $200 million, a very significant amount of money in Russia as well as a significant portion of the spaceport’s entire construction budget.

1 comment

Users blocked from files by Google Docs

Reason 4,320,333 why I do not use Google: Some users of Google Docs yesterday were blocked by the company from their files because of “terms of service violations.”

In response to some of these reports, a Google employee tweeted that the team handling Google Docs was looking into the matter. Later Tuesday, Google said in a statement that it had “made a code push that incorrectly flagged a small percentage of Google Docs as abusive, which caused those documents to be automatically blocked. A fix is in place and all users should have full access to their docs.”

Although the error appeared to be a technical glitch, the fact that Google is capable of identifying “bad” Google Docs at all is a reminder: Much of what you upload, receive or type to Google is monitored. While many people may be aware that Gmail scans your emails — for instance, so that its smart-reply feature can figure out what responses to suggest — this policy extends to other Google products, too.

Here’s what this story reveals: Google monitors the content of the files that people store on Google Docs. Google has also developed software that can decide if some of that content is acceptable or unacceptable, to Google. Google can then block access to those supposedly private files, thus giving it the power to silence the work of anyone the company doesn’t like.

Sounds peachy-keen, doesn’t it?

9 comments

Scientists receiving EPA grants will no longer serve on EPA advisory panels

EPA head Scott Pruitt today announced that any scientist receiving EPA grants will no longer be allowed to serve on three EPA science advisory panels.

In the past three years, members of the Science Advisory Board, the Clean Air Scientific Advisory Committee, and the Board of Scientific Counselors received about $77 million in direct EPA grants while serving, according to agency calculations. “Strengthening independence from EPA; increasing state, tribal, and local government participation; and adding geographic diversity and fresh perspectives will improve the integrity of EPA’s scientific advisory committees,” Pruitt told reporters, government officials, and policy analysts in attendance.

The issue is a conflict of interest. These same scientists could not fairly advise EPA since they depended on that agency for major funding. The result was that these panels would often recommend the EPA to fund research that these scientists favored and were known to focus on, thus giving them an advantage in obtaining grants. Not surprisingly, this research often pushed the theory of global-warming and anti-industry regulation. This old-boy network for funneling funds to the right people, regardless of its legitimacy, is now hopefully cut off.

2 comments

North Korea’s new plan to develop and launch satellites

North Korea announced yesterday a new program to accelerate the development of home-built space satellites and orbital rockets.

North Korean newspaper Rodong Sinmun published a commentary laying out the country’s plans to send more satellites into space over the next five years. The program “can contribute to improving the economy and people’s lives,” the article reads. “It is a global trend to seek economic development through space programs,” the October 31 piece said. “According to our five-year plan for space development, we will launch more working satellites, such as geostationary ones.” Geostationary satellites orbit the Earth about 38,500 kilometers (22,000 miles) over a fixed position over the equator and revolve from west to east like the Earth.

It is hard to know how realistic this program is, and how much of it is actually a cover for North Korea’s ICBM development efforts.

3 comments

Survey finds universities teach a “thin and patchy education”

The coming dark age: A national survey has found that today’s universities no longer teach a well-rounded education but instead allow their students to skip important subjects so that their education is “thin and patchy.”

The group evaluated more than 1,100 colleges and universities based on their requirements in seven “key areas of knowledge”: composition, literature, foreign language, U.S. history, economics, mathematics and science. The results showed that 66.5 percent of the schools required only three or fewer of those subjects.

This leads to a “thin and patchy education,” the report states. “Students may have dozens or even hundreds of courses from which to choose, many of them highly specialized niche courses,” it states. “Once distribution requirements become too loose, students almost inevitably graduate with an odd list of random, unconnected courses and, all too often, serious gaps in their basic skills and knowledge.”

Additional key findings include that fewer than 18 percent of colleges and universities require a foundational course in U.S. government or history, and only about 3 percent of the institutions require students to take a basic economics class.

Read it all. It is quite depressing, but also not surprising. It also suggests that parents and their high school children need to demand more from colleges, and reject those colleges that are failing in providing the basics of a college education.

7 comments

Trump Justice Department settles lawsuits over Obama IRS harassment

The Trump administration has come to a settlement with the lawsuits filed by tea party groups over their harassment by the IRS during the Obama administration.

The government apologized Thursday for illegally targeting tea party groups for intrusive scrutiny and agreed to settlements with hundreds of organizations snared in the targeting, bringing to a close one of the more embarrassing episodes of the Obama administration.

Attorney General Jeff Sessions said the IRS owed the groups an apology after years of poor treatment and even longer refusal to concede bad behavior. He placed blame on “the last administration,” saying the targeting that went on under President Obama “was wrong and should never have occurred.”

One of the settlement agreements, filed in federal court in Washington, D.C., officially admits that the IRS singled out groups because of their political beliefs, in defiance of the law. The other settlement, in a class-action lawsuit in Ohio, includes a “generous” payout to more than 400 groups snared, according to a lawyer involved.

The amount of the settlement was not released.

Meanwhile, John Koskinen remains head of the IRS, despite a long documented record of stone-walling and obstruction of justice. If the Trump administration is really sincere about fixing this proglem so that it won’t happen again, why has Trump not fired him?

4 comments

Scientists propose adding smog to atmosphere to fight global warming

What could possibly go wrong? Global warming scientists have proposed injecting sulphate aerosols (another name for pollution) into the upper atmosphere in order to counter their predicted global temperature rise.

Experts are considering ploughing sulphate aerosols into the upper atmosphere which would cause some of the suns rays to be reflected back out into space. This could potentially cool the Earth down and help counter the effects of climate change, scientists say.

The move would also help reduce coral bleaching and help calm powerful storms.

James Crabbe, from the University of Bedfordshire, is leading the study and his initial results suggest the plan could help cool the planet.

This proposal is based on such flimsy science it appalls me that any scientist would even consider it, especially when you think about the unknown consequences.

11 comments

More hints that the first SLS launch will be delayed again

Government in action! The head of the Marshall Space Flight Center yesterday once again hinted that the first unmanned launch of SLS/Orion, presently scheduled for late in 2019, could be delayed again.

In September, the agency said in a statement that it would announce a new target date for EM-1 in October, citing the need to account for a range of issues, including progress on the European-built Orion service module and shutdowns at NASA centers from hurricanes in August and September.

However, an update in October is increasingly unlikely. “Within a few weeks, I think [NASA Acting Administrator Robert Lightfoot] intends to codify whatever that date is going to be,” Todd May, director of NASA’s Marshall Space Flight Center, said in remarks at the American Astronautical Society’s Wernher von Braun Memorial Symposium here Oct. 25.

Bill Hill, deputy associate administrator for exploration systems development at NASA, offered a similar assessment. “Probably in the next month, maybe sooner,” he said in an interview.

These hints have been standard operating procedure for announcing SLS’s endless delays for the past decade. First they make hints that a delay might happen, but reassure everyone that it is very unlikely. Then they follow this up later with announcements about how they need more time to accomplish all their goals. By the third announcement they outline a possible new schedule, including some delay but insist that it isn’t likely. Finally, they release the new dates, often as an aside during some other announcement in order to minimize the news.

It should be noted that the new dates have almost never been realistic. NASA has usually known that the new dates are interim, and that further delays will likely require more of this same dance to make them public.

So, here is my prediction: They are preparing us for the fact that the first unmanned flight will likely slip into 2020, which means the first manned flight slips for certain into 2023, as I have been predicting for the past three years.

11 comments

Update on five Iranian satellite projects

During a recent press conference the head of the Iranian Space Agency has provided an update on the status of five long-delayed Iranian satellites.

Only one of the satellites appears ready for launch, and is awaiting a rocket to put it in orbit. The satellites are either designed to do remote sensing of the Earth or communications, with some having unstated military applications.

0 comments

Email proves Obama administration targeted opponents for harassment by the IRS

Working for the Democratic Party: An email from an IRS agent, recently uncovered by lawyers representing tea party groups in a class action lawsuit, clearly shows that the Obama administration targeted for harassment conservative groups, based solely on their party affiliation.

[T]he April 1, 2011, email from Elizabeth C. Kastenberg, an official in the agency’s exempt organizations division, says it was explicitly the organizations’ politics that landed them on the target list. “These cases are held back primarily because of their political party affiliation rather than specifically any political activities,” Ms. Kastenberg wrote in an alert to other IRS employees, including her supervisor.

Edward Greim, the attorney for NorCal Tea Party Patriots and hundreds of other groups that are part of the class-action lawsuit, said that was a major admission. “What Kastenberg was saying was they have all different activities, and so there’s no ‘political activities’ that cut across this group. Instead, it’s really their political party affiliation they have in common,” he said. [emphasis mine]

In other words, the IRS decided to demand inappropriate information from these Republican organizations, merely because they were Republican, contradicting utterly the claim by the agency that they were only checking to make sure that these groups, based on their activities, should get non-profit status.

10 comments

FBI informant cleared to testify on Clinton Uranium Russian deal

The Trump Justice Department has cleared the FBI informant with direct knowledge of the Clinton-Russian uranium bribery scandal.

The informant worked undercover to investigate bribery and intrigue in the Russian nuclear industry during the Obama administration and was, until Wednesday, bound by a gag order from speaking about what he knew. According to sources at the Department of Justice, the informant is now cleared to testify about a wide range of issues including, specifically, the Clinton Foundation. The informant worked undercover to investigate bribery and intrigue in the Russian nuclear industry during the Obama administration and was, until Wednesday, bound by a gag order from speaking about what he knew.

According to sources at the Department of Justice, the informant is now cleared to testify about a wide range of issues including, specifically, the Clinton Foundation. In a statement, DOJ spokesman Ian Prior told media outlets: “As of tonight, the Department of Justice has authorized the informant to disclose to the Chairmen and Ranking Members of the Senate Committee on the Judiciary, the House Committee on Oversight and Government Reform, and the House Permanent Select Committee on Intelligence, as well as one member of each of their staffs, any information or documents he has concerning alleged corruption or bribery involving transactions in the uranium market, including but not limited to anything related to Vadim Mikerin, Rosatom, Tenex, Uranium One, or the Clinton Foundation.”

The article says the informant will testify Wednesday night before Congress, but also notes that it is unclear as yet how or where that testimony will be given. More details about the scandal here.

If this person reveals as much as the news stories have suggested, it could very well finally shatter the protection the press and the left have given the Clinton since Bill Clinton’s problems as president in the 1990s. What I am sensing is that the Democratic Party might possibly be considering throwing the Clintons to the wolves in an effort to keep the wolves off of it.

Then again, I tend to be a wide-eyed optimist.

10 comments

Today in fascist academia

Time for another update on the growing movement on American campuses to squelch freedom of speech. The stories below highlight some of the more egregious examples since my last update.

Note also that I am making a point to identify the university in every headline I link to. If you have children who are about to pick a college, a quick search here at Behind the Black will tell you where a college stands on the first amendment and free speech.

No one should be surprised that three of these stories come out of California, which in recent years has become increasingly hostile to the concept of dissent.

All is not bad news, however. The Board of Regents that runs the University of Wisconsin two weeks ago approved a new policy that would suspend and expel students who disrupt speeches and presentations on campus.

This tidbit from the story reveals once again which political party today believes in free speech, and which political party does not.

The new Wisconsin policy mirrors Republican legislation the state Assembly passed in June, though the Senate has yet to act on the bill. Regents President John Robert Behling told the board before Friday’s vote that adopting the policy ahead of the legislation shows “a responsiveness to what’s going on in the Capitol, which helps build relationships.”

Republican Gov. Scott Walker appointed all but two of the board’s 18 members. State public schools Superintendent Tony Evers and Wisconsin Technical College System Board President Mark Tyler are automatically regents by virtue of their offices.

Evers, a Democrat running against Walker in next year’s gubernatorial election, cast the only dissenting vote. He accused the regents of sacrificing free speech to curry favor with Republican lawmakers.

1 comment
1 334 335 336 337 338 594