Connect with us

Published

on

Elon Musk’s The Boring Company announced that it is starting testing on its first full-scale high-speed Hyperloop transportation system.

The company might fulfill Musk’s vision for a new mode of transportation 10 years after unveiling it.

Back in 2013, Elon Musk released a white paper describing what he called the “Hyperloop,” a new mode of transportation consisting of building a near-hard vacuum environment in a tunnel or tube in order to move electric vehicles at high speeds more efficiently inside of them.

At the time, Musk put the idea out there and encouraged other businesses to run with it. Several companies were founded around the idea, but almost a decade later, there are still no commercial applications of the system – though there are a few prototypes out there.

Musk later founded The Boring Company (TBC) to improve tunnel boring technology in order to help reduce traffic.

The main applications of TBC’s tunnels have been “Loops,” which are similar to the Hyperloop without the low-pressure environment. The company is focusing on developing loops under cities, like its first commercial application in Las Vegas, but it has also been working on some proposals for Hyperloop systems to connect cities over longer distances.

After years of focusing on the more simple tunnel-based Loop concept, The Boring Company announced earlier this year that it plans to start testing its own Hyperloop system later this year.

The announcement was made after the company secured a massive $675 million round of funding.

Now The Boring Company announced over the weekend that it has started testing on its first “full-scale Hyperloop”:

The company didn’t confirm where this new Hyperloop test tube is located, but it looks like it could be in Texas based on the sky in those pictures. The Boring Company has a piece of land near Austin, where it is conducting some testing.

On its website under the “Hyperloop” project, the company still refers to “the 0.8 mile Hyperloop Test Track, or Hypertube” constructed by SpaceX in Hawthorne, but this is clearly not that as it fits a full-size car unlike the test track for the SpaceX hyperloop student competition.

Speaking of full-size cars, The Boring Company is putting a Tesla vehicle in the tube in those pictures, which is interesting considering the Hyperloop is expected to require special pressurized vehicles in order to work in a near-vacuum environment.

However, the startup doesn’t mention a low-pressure environment in its description of the Hyperloop on its website:

Hyperloop is an ultra-high-speed public transportation system in which passengers travel in autonomous electric pods at 600+ miles per hour. Boring Company tunnels support both Loop and Hyperloop systems.

The Boring Company has confirmed that it is currently working with “various local governments and private stakeholders” about developing hyperloop systems.

FTC: We use income earning auto affiliate links. More.


Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast.

Continue Reading

Environment

Elon Musk Tapped to Lead New ‘DOGE’ Department—Despite the Government Already Having One for Efficiency

Published

on

By

Elon Musk Tapped to Lead New ‘DOGE’ Department—Despite the Government Already Having One for Efficiency

Tesla CEO Elon Musk is to officially join Trump’s administration as the co-head of the new US Department of Government Efficiency – a second federal department with the goal of making government spending more efficient.

You can’t get more ironic than that.

Throughout the elections, Musk, who is already CEO of Tesla, and SpaceX, a well as the defacto head of X, xAI, Neuralink, and the Boring Company, has been floating the idea to add to his workload by joining the Trump’s administration to lead a new department aimed at making the federal government more efficient.

He has been calling it the “Department of Government Efficiency”, which spells out ‘DOGE’, a meme that Musk appears to enjoy.

Well, now Trump appears to want to be going through with this idea.

He announced the new department and Musk as head, along with Vivek Ramaswamy, in a statement today:

I am pleased to announce that the Great Elon Musk, working in conjunction with American Patriot Vivek Ramaswamy, will lead the Department of Government Efficiency (“DOGE”). Together, these two wonderful Americans will pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies – Essential to the “Save America” Movement. “This will send shockwaves through the system, and anyone involved in Government waste, which is a lot of people!” stated Mr. Musk.

What’s most ironic is that there’s already a federal department with the goal of cutting government waste and ensuring efficiency: the Government Accountability Office (GAO).

The GAO’s main objectives are:

  • auditing agency operations to determine whether federal funds are being spent efficiently and effectively;
  • investigating allegations of illegal and improper activities;
  • reporting on how well government programs and policies are meeting their objectives;
  • performing policy analyses and outlining options for congressional consideration;
  • issuing legal decisions and opinions;
  • advising Congress and the heads of executive agencies about ways to make government more efficient and effective

It sounds similar to what Musk described when talking about his DOGE, but Trump hasn’t gone into many details other than it will “cut waste.”

He also has a confusing message as he compares the initiative, which is supposed to cut government spending, to “The Manhattan project”, a massive and expensive government project.

Trump said that DOGE will help the government “drive large scale structural reform”:

It will become, potentially, “The Manhattan Project” of our time. Republican politicians have dreamed about the objectives of “DOGE” for a very long time. To drive this kind of drastic change, the Department of Government Efficiency will provide advice and guidance from outside of Government, and will partner with the White House and Office of Management & Budget to drive large scale structural reform, and create an entrepreneurial approach to Government never seen before.

The statement also noted that DOGE will only operate until July 4, 2026.

Musk has previously claimed that he could cut at least $2 trillion dollars of the $6.5 trillion dollar US federal budget.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Oil could plunge to $40 in 2025 if OPEC unwinds voluntary production cuts, analysts say

Published

on

By

Oil could plunge to  in 2025 if OPEC unwinds voluntary production cuts, analysts say

A pump jack in Midland, Texas, US, on Thursday, Oct. 3, 2024. 

Anthony Prieto | Bloomberg | Getty Images

Oil prices may see a drastic fall in the event that oil alliance OPEC+ unwinds its existing output cuts, said market watchers who are predicting a bearish year ahead for crude.

“There is more fear about 2025’s oil prices than there has been since years — any year I can remember, since the Arab Spring,” said Tom Kloza, global head of energy analysis at OPIS, an oil price reporting agency.

“You could get down to $30 or $40 a barrel if OPEC unwound and didn’t have any kind of real agreement to rein in production. They’ve seen their market share really dwindle through the years,” Kloza added.

A decline to $40 a barrel would mean around a 40% erasure of current crude prices. Global benchmark Brent is currently trading at $72 a barrel, while U.S. West Texas Intermediate futures are around $68 per barrel.

Stock Chart IconStock chart icon

hide content

Oil prices year-to-date

Given that oil demand growth next year probably won’t be much more than 1 million barrels a day, a full unwinding of OPEC+ supply cuts in 2025 would “undoubtedly see a very steep slide in crude prices, possibly toward $40 a barrel,” Henning Gloystein, head of energy, climate and resources at Eurasia Group, told CNBC. 

Similarly, MST Marquee’s senior energy analyst Saul Kavonic posited that should OPEC+ unwind cuts without regard to demand, it would “effectively amount to a price war over market share that could send oil to lows not seen since Covid.”

However, the alliance is more likely to opt for a gradual unwinding early next year, compared to a full scale and immediate one, the analysts said.

Should the producers group proceed with their production plan, the market surplus could nearly double.

Martoccia Francesco

Energy strategist at Citi

The oil cartel has been exercising discipline in maintaining its voluntary output cuts, to the point of extending them.

In September, OPEC+ postponed plans to begin gradually rolling back on the 2.2 million barrels per day of voluntary cuts by two months in an effort to stem the slide of oil prices. The 2.2 million bpd cut, which was implemented over the second and third quarters, had been due to expire at the end of September. 

At the start of this month, the oil cartel again decided to delay the planned oil output increase by another month to the end of December.

Oil prices have been weighed by a sluggish post-Covid recovery in demand from China, the world’s second-largest economy and leading crude oil importer. In its monthly report released Tuesday, OPEC lowered its 2025 global oil demand growth forecast from 1.6 million barrels per day to 1.5 million barrels per day.

The pressured prices were also conflagrated by a perceivably oversupplied market, especially as key oil producers outside the OPEC alliance like the U.S., Canada, Guyana and Brazil are also planning to add supply, Gloystein highlighted.

Bearish year ahead for oil

Continue Reading

Environment

Have you had a ride in a driverless vehicle?

Published

on

By

Have you had a ride in a driverless vehicle?

Manage push notifications



Continue Reading

Trending