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Picture taken on May 3, 2022 shows a general view of Slovakia’s largest mineral oil refinery Slovnaft in Bratislava, Slovakia. (Photo by JOE KLAMAR / AFP)

Joe Klamar | Afp | Getty Images

The Group of 7 nations are in talks to cap Russian oil at $65 and $70 a barrel — but analysts say it likely won’t have a significant impact on Moscow’s oil revenues even if it’s approved.

Prices at those levels are close to what Asian markets are currently paying Russia, which are at a “big discount,” said Wood Mackenzie’s vice president of gas and LNG research, Massimo Di Odoardo.

“Those levels of discounts are certainly in line with what the discounts already are in the market … It’s something that doesn’t seem, as it is placed, like it’s going to have any effect [on Moscow] whatsoever if the price is so high.”

Russia has threatened to it will not supply oil to countries setting and endorsing the price cap.

“Given Russian oil (Urals) is trading at $60‑65/bbl, the proposed price cap is already compliant under prevailing market conditions,” said Vivek Dhar, Director of Mining and Energy Commodities research from Commonwealth Bank of Australia.

In a note on Thursday, he said that current Russian oil shipments face minimal disruption from the European Union denying shipping and insurance services.

He agreed that the discussed price cap won’t make much of a dent or deter Moscow in its war against Ukraine.

“Russia’s seaborne oil exports have increased to China, India and Turkey at the expense of advanced economies following the Ukraine war,” he added.

The oil embargo should not have a huge impact, says Wood Mackenzie

In fact, he said the price cap discussed was higher than markets were expecting.

“Oil prices finished lower overnight after the EU discussed a price cap on Russian oil between $US65‑70/bbl, a higher price range than markets expected and at levels that will reduce the risk of disruptions of EU sanctions on Russian oil shipments,” Dhar said.

There was similar skepticism over the EU’s proposed cap on natural gas prices. Several EU member states locked horns over the effectiveness of capping prices at 275 euros per megawatt hour, with some saying it’s not realistic to keep gas prices at such high levels for so long.

The bloc is seeking to stop gas prices from soaring sky-high as consumers are already struggling with rising cost-of-living.

G-7 policymakers have a tough balancing act to tread.

It seems to me like [the G-7] will err on the side of caution — setting it high rather than low to avoid worsening the inflationary spiral.

Pavel Molchanov

Energy analyst at Raymond James

If prices are set too high, they will be meaningless and risk having no impact on Russia — but if the price cap is too low, it could lead to a physical reduction in the supply of Russian oil onto the global market, said Raymond James’ energy analyst Pavel Molchanov.

A lower price cap “means more inflation, more consumer unhappiness, and more monetary tightening,” Molchanov pointed out.

“It seems to me like [the G-7] will err on the side of caution — setting it high rather than low to avoid worsening the inflationary spiral.”

Last week, official data showed U.K. inflation jumped to a 41-year high of 11.1% in October, higher than expected, as energy prices, among other factors, continued to squeeze households and businesses.

Downside risks to current forecasts

If EU members agree to the proposed cap, Dhar expects the price of oil to fall below $95 per barrel for the last quarter of 2022.

Oil prices were fractionally higher on Friday afternoon Asia time. Brent crude futures inched higher by 0.35% to stand at $85.64 per barrel, while U.S. West Texas Intermediate futures climbed 0.55% to $78.37 per barrel.

“Our price forecast assumes EU sanctions accompanied by a price cap on Russian oil will result in enough supply disruption to offset ongoing global growth concerns.”

Read more about energy from CNBC Pro

The European bloc has imposed multiple rounds of sanctions against Russia since since Moscow began its unprovoked war on neighboring Ukraine in late February.

Earlier this week, Goldman Sachs lowered its oil price forecast by $10 to $100 per barrel for the fourth quarter of 2022, citing rising Covid concerns in China and lack of clarity over the Group of Seven nations’ plan to cap Russian oil prices.

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As states push DER initiatives, $4,500 PG&E home battery rebate leads the way

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As states push DER initiatives, ,500 PG&E home battery rebate leads the way

Rather than straining the grid, the batteries in EVs can actually help to stabilize the energy grid under heavy loads. PG&E gets that, and to encourage participation in its growing V2G programs, the utility is offering GM Energy customers in its territory up to $4,500 toward qualifying home battery systems.

Billed as a glimpse into the future of energy resilience, efficiency, and sustainability, Pacific Gas & Electric (PG&E) launched a pilot program with GM Energy in March, and the pilot’s success has led to more serious conversations around the topics of home batteries, EVs, and other distributed energy resources (DERs) on the national level.

Now that it’s had time to digest the results of the initial pilot, it seems like the Oakland-based utility is doubling down, the utility is expanding the program, encouraging participation with up to $4,500 in incentives for GM Energy customers willing to plug in.

While giving customers the ability to use their GM EV as a back-up home generator is an incredible, practical benefit to customers, it is just the beginning of what we can do to help encourage mass EV adoption with this technology … with the right incentives and policies in place, programs like this one could accelerate the shift toward a more distributed energy model.

GM ENERGY

As more states explore ways to meet renewable and distributed energy targets as they build up grid resilience – witness Illinois’ recent passing of SB25, which is slated to add 3 GW of battery storage by 2030 – incentives that encourage new participation in V2H, V2G, and VPP tech can help utilities meet those goals.

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While you gear up to write your state legislators about what a great/terrible job they’re doing to encourage more EVs in your neck of the woods, you can check out this episode of EV Reality Check where my good friend (and frequent Quick Charge guest) Matt Teske interviews Harris Schaer, Senior Program Manager, Utilities & Aggregators at GM Energy, as they look at similar programs already live across the country, talk up some real-world performance data, and explore the ways utility partnerships are shaping the future of distributed energy.

GM Energy v. Matt Teske


SOURCE: GM.


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Tesla Optimus robot takes a suspicious tumble in new demo

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Tesla Optimus robot takes a suspicious tumble in new demo

A new video surfacing from a Tesla demonstration in Miami this weekend shows the Optimus humanoid robot taking a nasty fall. But it’s not the fall itself that is raising eyebrows, it’s the specific hand movements the robot made on its way down, which strongly suggest it was mimicking a remote operator frantically removing a VR headset.

Humanoid robots are all the hype right now. Billions in investments are pouring in, and Elon Musk claims it will be a trillion-dollar product for Tesla, justifying its insane valuation.

The idea has been that with the advent of AI, robots in human form could use the new generalized artificial intelligence to replace humans in an increasingly larger number of tasks.

However, there are still many serious concerns about the effort, both at the ethical and technological levels.

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Technologically, most humanoid robot demonstrations have relied on remote control by human operators – pointing to a remaining gap between the software and hardware.

We discussed how the robots at the “We, Robot” event were heavily teleoperated, despite Tesla not explicitly disclosing that fact to the public.

That was more than a year ago, and despite claims that Tesla has made “AI demos” of Optimus since, it appears the company still relies on teleoperation to control them during demonstrations.

The Tesla Optimus Miami Incident

This weekend, Tesla held an event called ‘Autonomy Visualized’ at its store in Miami. The goal was to showcase Tesla’s “Autopilot technology and Optimus.”

However, there was nothing “autonomous” at Tesla’s “autonomy” event.

Many Tesla fans were seen posting videos of a Tesla Optimus robot handing out bottles of water at the event. It was also seen posing for pictures and dancing.

On Reddit, someone posted a different video of the demonstration:

As you can see, Tesla Optimus moved its hands too quickly, causing some water bottles to drop to the ground. It then loses its balance and begins to fall backward.

But the most interesting part is that just before falling backward, both of its hands immediately shoot up to its “face” in a distinct grasping motion, as if pulling an object off its head.

The robot, of course, is not wearing anything on its head.

The motion is instantly recognizable to anyone who has used VR or watched teleoperation setups. It appears the human operator, likely located backstage or in a remote facility, removed their headset in the middle of operating the robot for unknown reasons.

Optimus faithfully replicated the motion of removing a non-existent headset as it crashed to the floor.

Here’s a look at how Tesla trained Pptimus with VR headsets in its lab:

Electrek’s Take

This is embarrassing, but not just because the robot fell. Robots fall; that’s part of the R&D process. Boston Dynamics blooper reels are legendary, and they never really eroded the company’s credibility.

The problem here is the “Wizard of Oz” moment.

The specific motion of removing the “phantom headset” destroys the illusion of autonomy Tesla tries so hard to curate.

Even recently, Musk fought back against the notion that Tesla relies on teleoperation for its Optimus demonstration. He specified that a new demo of Optimus doing kung-fu was “AI, not tele-operated”:

Musk said again during Tesla’s last earnings call in October:

“Optimus was at the Tron premiere doing kung fu, just up in the open, with Jared Leto. Nobody was controlling it. It was just doing kung fu with Jared Leto at the Tron Premier. You can see the videos online. The funny thing is, a lot of people walked past it thinking it was just a person.”

Musk keeps telling shareholders that Optimus will be the biggest product in history and that millions of units will be working in factories soon. But if they are still relying on 1:1 teleoperation to hand out water bottles right now, it feels like we are still far away from a useful generalized Optimus robot.

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The electric crossover that could help save Nissan: meet the all-new NX8 

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The electric crossover that could help save Nissan: meet the all-new NX8 

After images of an the new mid-sized electric crossover were leaked by the Chinese MIIT, Nissan pulled the wraps off its all-new NX8 – and it looks so good, I’m wondering if it couldn’t spearhead the brand’s American turnaround.

Nissan has had a rough go of it in the US, if not, well – everywhere of late. And while we may all have our own ideas about what Nissan needs to do to turn its ship around and get back to its winning ways, one thing just about every auto industry analyst seems to understand is that, at its core, Nissan’s problem is a product problem.

It doesn’t have to be this way, though. Despite what the optics of cynically slapping a Nissan badge on a decade-old Mitsubishi platform and calling it a new Rogue might have you believe, Nissan happens to have fantastic, modern new products in its production pipeline – including the all-new NX8 BEV and EREV crossover shown here. There’s just one problem: Nissan’s comeback cars are all in China.

The “N” stands for Nice


Nissan N6 BEV/EREV sedan; via Dongfeng Nissan.

Dongfeng Nissan, a Chinese-market automotive joint venture between Dongfeng Motor Group and Nissan, has been rolling out hit after hit in recent months, like the N6 (above), which sits between the Altima and Maxima, size-wise, and offers 112 miles on a full charge of its 21.1 kWh LFP battery before its 1.5L gas engine kicks on to keep the odometer rolling.

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The N6’s stablemate, the all-electric Dongfeng Nissan N7 sedan, debuted a few months earlier to rave reviews and hot sales, too – moving more than 10,000 units in the model’s first three weeks on the market.

Like its sedan siblings, the all-electric version of Nissan NX8 crossover rolls on an 800V system architecture and features a CATL-sourced LFP battery pack with 5C ultra-fast charging technology (xC is how many you can charge in an hour, effectively, so 60 minutes divided by 5 = it can charge in as little as 12 minutes). That battery reportedly sends power to a single electric motor putting out either 215 kW (~290 hp) or 250 kW (~335 hp), depending on model.

EREV version of the NX8, meanwhile, features a similar setup to the N6, pairing a 1.5L ICE producing 109 kW (~145 hp) with a 195 kW (~260 hp) electric motor. Expect the NX8 EREV to get slightly less than the N6’s claimed 112 miles of electric-only range (Chinese cycle).

The NX8 is expected to reach its first customers in April 2026. Take a look at some of the firs official photos of the new Nissan crossover, below, then let us know how you think this would do in the US in the comments section at the bottom of the page.

Dongfeng Nissan NX8


Nissan NX8 electric crossover

SOURCE: Dongfeng Nissan, via CNEVPost.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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