Israel’s Iron Dome anti-missile system intercepts rockets, as seen from Ashkelon, Israel, October 1, 2024
Amir Cohen | Reuters
Israel’s government has vowed a severe response to Iran’s unprecedented missile barrage into Tel Aviv, leaving the Middle East on edge as fears rise over a possible all-out war between the two long-time foes.
Israeli authorities say there were no casualties as a result of the offensive, and that most of the strikes were intercepted. But the event marked a turning point in a series of escalatory tit-for-tat moves, as Tehran appeared adamant to re-set deterrence and prove to Israel that it could — and would — attack at a time of its choosing.
As much as 4% of global oil supply is at risk as oil infrastructure in Iran — one of OPEC’s largest crude producers — could become a target for Israel.
Oil prices gained over 5% in the previous session following the missile strike, before tapering to a 2.5% climb. The December delivery contract of global benchmark Brent was trading at $75.37 per barrel at 10:30 a.m. in London, while front-month November U.S. West Texas Intermediate futures were up 2.68% to $71.70 per barrel.
“I think this focus might be on Israel, but the focus should really be on Iran, and whether there will be attacks on regional infrastructure. That really is the one event that we are looking for, and which could determine a more dangerous path for stock markets, for risk assets in general,” Frederique Carrier, head of investment strategy for the British Isles and Asia at RBC Wealth Management, told CNBC’s Capital Connection on Wednesday.
“We know, looking at the acts of war since the 1940s, that those which create an oil crisis [and] a prolonged increase in oil prices are the ones which have a long-lasting impact on stock markets.”
She added that so far, there is “no indication” of that.
Oil infrastructure ‘tempting targets for Israel’
Lewis Sage-Passant, an adjunct professor of intelligence at Sciences Po in Paris, described energy markets as jittery, as investors watch for Israel’s next moves.
“Iran depends on a handful of ‘chokepoint’ export terminals, such as Khark island, which will be tempting targets for Israel,” Sage-Passant said. “Energy sector teams seem nervous about an escalating tit-for-tat of strikes against regional infrastructure. Even without direct targeting, much of the world’s oil infrastructure sits under these missile’s flight paths, so naturally everyone is very nervous.”
Following the Tuesday attack, U.S. National Security Advisor Jake Sullivan warned of severe consequences for Iran, saying that the U.S. would staunchly support Israel. But Washington’s efforts to de-escalate and prevent a region-wide conflict have clearly failed, according to Roger Zakheim, a former U.S. deputy assistant defense secretary and director of the Ronald Reagan Institute in Washington.
Iran’s attack and the subsequent Israeli response “may result in impact on oil, energy markets, certainly aviation, and I think certainly the defense sector … Investments in missile defense and ammunition, those companies that manufacture and produce those systems, for sure are going to be impacted by what’s playing out in the Middle East,” he said.
“Israelis now will respond, not only in kind, but do what is necessary to restore deterrence,” Zakheim added.
Deterrence, or full-blown war?
Questions remain whether a strong Israeli response would restore deterrence or trigger further escalation from Iran and tip the nations into a full-blown war. In a statement following the country’s missile salvos, Iran’s Foreign Minister Abbas Araghchi said: “Our action is concluded unless the Israeli regime decides to invite further retaliation. In that scenario, our response will be stronger and more powerful.”
Aside from geographical choke points in the oil market, “there are plenty of facilities on [the] Iranian side and also [on the ] Israeli side that could all be targeted in terms of critical infrastructure,” Sara Vakhshouri, founder and president at SVB Energy, told CNBC’s Capital Connection on Wednesday.
“That infrastructure is all connected,” she said, stressing that the sheer size of Iran means “it is impossible to somehow secure all of it.”
Some market watchers are warning oil could hit $100 per barrel.
Vakhshouri expressed doubts over such a forecast, noting that geopolitical events often only affect oil prices temporarily. The extent and duration of any market impact “depends on where the destruction would be and how much oil is going to be taken off the market,” she said.
“Definitely, prices will have an upward trend. [But] the other thing is that the market is focusing on huge uncertainty on both sides … [whether] it’s the demand side or the geopolitical side.”
A longer-term issue underpinning oil prices is the broader global demand picture. Brent crude hit a 33-month low in mid-September and had hovered around $70 per barrel until Iran’s missile attack on Israel, based on slowing global demand and abundant supply, particularly from non-OPEC+ producers.
“So it’s very interesting moment now,” Vakhshouri said. “We have the prices being resilient due to the fear of low demand in the market, but also the geopolitical factor is real. Any side could really push the market, and we have seen just in the past few days, how the prices go up and down, depending on how the sentiments are triggered in the market.”
The first all-new compact Mopar since the malaise-era K-Car, the Dodge Neon was a revelation. Its fun, approachable face, its “Hi.” marketing campaign, all of it was pitch-perfect for the uncertain times it was launched into. Now, a generation later, Stellantis faces similarly uncertain times – and a new Neon could go a long way towards helping the old Chrysler Co. do what it does best: come back from the brink.
If they wanted to, Stellantis could make it happen tomorrow.
Today, Stellantis is in trouble. Much like it was in the early 90s, the company is hemorrhaging cash, fighting with the unions, and struggling to sell higher-end cars. Today as then, what the company needs is an affordable, simple new car to get people in the showrooms – and in 1994, that new car was the Neon.
In the mid-late 1990s, the Dodge Neon was everywhere. It was affordable, fun to drive, and more or less reliable. It was also economical and fuel-efficient, but it wasn’t that way. It was sold as a fun, smiling face with funky round lights. In R/T and ACR spec, it was sold as an even more fun, smiling face, and offered serious performance chops that still get the grizzled Gen X guys at the SCCA/NASA track days excited.
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Stellantis is selling a car right now, today, that meets all that criteria. It’s the right size, it’s reasonably affordable, and it’s got the right tech – available as both a PHEV and a pure EV – for its time.
Check out the original launch ad for the 1995 Plymouth Neon, below, and tell me they couldn’t do a shot-for-shot remake with a rebadged Ypsilon and make it immediately relevant to car buyers in 1995 in the comments.
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Faraday Future unveiled its upcoming FX Super One MPV on Thursday, which appears to be a rebadged Great Wall Motors Way Gaoshan.
Which brings us to the question: is this how we might see more Chinese EVs make their way to the US?
The EV market in China has grown rapidly in recent years, not just in terms of total sales and revenues for its largest companies, but also in terms of the hundreds of EV companies vying to survive the current highly competitive market there.
But despite massively rising EV sales in the country, EV production is still scaling even faster. This has led to a price war within China due to this glut of cars, and also to Chinese companies seeking more buyers overseas.
BYD has also put out feelers about building a factory in Mexico, but those plans are on pause, ironically because BYD doesn’t want its technology to be stolen by the US (put that one on for some perspective about how far we have fallen behind on EVs, fellow Americans).
But we haven’t yet seen the kind of Chinese EV that the rest of the world is getting – one of those many eye-openingly cheap numbers that could finally bring true affordability to the US market (or bring it back, that is).
That’s due to tariffs, and it’s intentional. There are various arguments given for tariffs’ existence, but they boil down to: the US can’t make cars as cheap as China, and wants to protect its auto industry, and therefore making Chinese EVs more expensive will forestall their entry into the US while we try to get better at making them. I personally find these explanations wanting and consider these tariffs unwise (and they have only gotten more unwise).
But in a world where these tariffs exist, and depending highly on what final form they take, companies will look for ways to minimize their exposure to them and to still bring cars into the US. Much of the EV industry is sourced through China (again, one of the issues the Inflation Reduction Act tried to remedy), so parts will have tariffs on them, in various amounts.
This is where I speculate that the Faraday Future FX Super One could come in. At last night’s unveiling event, it became quite clear that the car is strikingly similar to the Great Wall Motors Wey Gaoshan.
This similarity is not coincidental – Faraday told us that it is working with “a Tier 1 Chinese automotive supplier,” one that we have heard of, to build the FX Super One. That supplier will send stamped bodies to Faraday’s US factory in Hanford, CA, where Faraday will take care of the final assembly.
Faraday didn’t let us take pictures of the interior, even from the outside, but what we saw of the interior on a short ride around the parking lot looked quite similar to the interior of a Wey Gaoshan, just with different controls (for example, the the pull-out fridge in the bottom of this photo is identical to the one I saw in the FX Super One).
Faraday said the interior hasn’t been finalized yet, but also said that it thinks it can have 100-150 cars built by the end of the year. Which is less than half a year away, for a company that has to date built 16 cars (though those it built on its own). So there’s not a lot of time for further changes at this rate.
So, here we have a company that intends to sell a car in the US, much of which originated in China. This seems like it would run afoul of tariffs.
But, depending on how (or if…) these tariffs get edited or finalized, they might be much lower for parts and/or for vehicles that undergo final assembly in the US. So Faraday might be able to get away with importing something very similar to a GWM, doing enough to it here to qualify its way past tariffs, and getting it on the market at a price that doesn’t incorporate the however-many-hundred-percent the US has ridiculously decided to tack on this week.
Faraday also mentioned during its presentations about the FX Super One that it has a US-based software team, which has been at work for some time.
The software in Faraday’s previous vehicle, the FF91, is pretty good, despite being such a low volume vehicle. And it’s gotten much better between the first time I sat in it and when I had a short demo this month of Faraday’s newly-upgraded voice recognition system (now supporting 50+ languages) and swipe gestures for setting volume and HVAC.
We didn’t get to interact with the software on the FX Super One at all, but we would be cautiously optimistic about it based on prior showings.
But more importantly for the purposes of this article, Faraday’s software team is based in the US. And given current US threats to ban any and all Chinese software from vehicles, this too would allow Faraday to swap out some chips and memory cards and make a car perfectly legal from a US perspective.
So it’s possible that Faraday is on to something here, and has found a reasonable way to get Chinese EVs into America, while complying with US law, and while giving the company a much easier way to increase its scale than trying to get numbers up for the slow-growing FF91 project. Faraday does not have the resources to build out mass market manufacturing currently, so this is another option.
Now… this is no $11k Dolphin Seagull, the Wey Gaoshan starts in the mid-$40k range in China, and is considered a luxury model. And here in the US, Faraday is positioning the car as a premium model as well, though hasn’t yet announced pricing or really gotten its messaging straight on whether it’s a mass market vehicle or a VIP/Cadillac Escalade competitor.
But if this is Faraday’s plan, and if the plan works, it could give the US a taste of the EVs that the rest of the world is getting access to, and could show a potential way of getting those cars across the border. There are both pros (competition good, cheaper prices good) and cons (race to the bottom for manufacturing, loss of important American industry) for the US auto market here, so you’ll have to decide which side of that equation you land on, but this could be a harbinger of one way cars from the now-biggest auto exporting country in the world could make their way out into markets that have exhibited hostility to that idea.
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Scooter here, back with another electric mobility review. This time, I tested out the Meepo Go electric skateboard. It is a sturdy, smooth deck designed for riders of all sizes, with some unique tech I had never encountered before. Be sure to check out my full video review below.
The Meepo Go is a versatile skateboard built for everyone
The Go electric skateboard from Meepo comes in one standard design. It usually has an MSRP of $699, but it is currently on sale for $569, so now is an excellent time to buy.
Features at a glance:
Bamboo and fiberglass deck provides durability, flexibility, and stability, suitable for heavier riders over 200 lbs.
Impact-resistant plates and a scratch-resistant underside.
Dual belt drive 1500 watt stator 4230 motors
12s2p 345.6WH/8AH battery with flame-retardant and water-resistant protection
JK-FOC24B Electronic Speed Controller (ESC)
Offers smooth, jerk-free acceleration with customizable speed and braking settings
Meepo is an exciting electric skateboard manufacturer whose goal is to make this particular form of travel accessible to anyone and help reduce carbon emissions. You know we love that.
The company has built hundreds of thousands of electric boards, all of which are rigorously tested and constantly revamped for better quality and efficiency. For my first-ever encounter with Meepo, I was sent its Go electric skateboard – a sort of all-in-one deck designed to support heavier riders.
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I didn’t realize this was a heavy rider board until I read its description on the website. I don’t think that was the reason Meepo recommended this one, but it’s nice to know I wouldn’t have to worry about breaking the Go for being too heavy (I’m only 200 pounds right now, okay?).
The unboxing was incredibly simple. You first unwrap your shiny new, assembled Meepo Go deck, complete with wheels, trucks, motors, and battery. Below that is some instructions, a charger with cables, a couple of adjustment tools, plus two extra motor belts.
Last but not least is Meepo’s J6S ergonomic remote. According to Meepo, the remote’s upgraded control logic allows riders to double-click to change speed modes, reducing accidental toggles, and can stay connected to the board at a max range of 46 meters.
My full haul is pictured above and in the video below. Zero assembly is required; simply plug and play. The Meepo Go electric skateboard can recharge when fully drained in four hours.
Aside from its sturdy design, thanks to a Bamboo and fiberglass deck, I found the Meepo Go quite aesthetically pleasing. I liked its unique grip tape design and carved-out handle for easier carrying (see below).
Once the Meepo skateboard was fully charged, it was time to power up and take it out for a first spin. My initial impression was just how smooth a ride the Go is, thanks in part to its wheels, which Meepo recently revamped to enable better wet-weather traction and anti-slip capabilities.
The trucks initially took some getting used to as they are 45-degree as opposed to 50-degree on traditional configurations, but once I got used to the difference, I felt much more stable at high speeds and making sharp turns. Meepo also provided a truck tool to tighten or loosen your configuration to your preferences.
The Meepo Go’s dual 4230 brushless motors combine for a total output of 3,000 watts, offering a top speed of up to 28 mph or 45 km/h. While that’s pretty damn fast for an electric skateboard, Meepo said “not so fast” to new riders for their own safety.
Go riders must travel 10 km (6.2 miles) in the lower two “L” and “E” speed modes to unlock the S and S+ modes, which allow the 28 mph top speed and higher acceleration. S mode was honestly too fast for my liking, but it was nice to know I had those speed capabilities whenever I’m feeling saucy. The truth is, at my age and skill level, I’m beyond satisfied cruising and carving around 20 mph.
Luckily, the Meepo Go electric skateboard delivers both speed options and then some.
The Meepo Go also allows you to customize its braking intensity from 0% to 100%. This is a feature I had never personally seen on an electric skateboard that genuinely impressed me. It just adds to the overall smoothness this deck provides on all levels.
As mentioned in the key features above, the Go’s dual motors are powered by an eight-amp-hour battery, which enables an all-electric range of up to 20 miles or 32 km.
Aside from speeds nearing 30 mph, you really feel the Meepo Go’s capability on hills. It was configured to tackle 15-degree (30%) inclines with ease, and having tested it, it’s true.
What may be most impressive about this particular Meepo skateboard is its advanced JKFOC-24B electronic skate controller (ESC), which is essentially the brain of the entire powertrain.
The ESC delivers smooth acceleration with no jerking or lag. It also enables full user customization of acceleration, top speed, and braking sensitivity, so once you get comfortable, you can tailor every aspect of your riding experience to your liking. This is another super cool feature that was new to me personally.
Overall, the Meepo Go is smooth, powerful, and very tech-forward. With more than enough speed, I truly enjoyed the lag-free cruising and carving of the 45-degree trucks and the ease of use of its ergonomic remote.
I was genuinely impressed by the tech used to customize this skateboard, enabling anyone to customize their ride. As such, I’d highly recommend the Meepo Go because of its feel, utility, and universal rideability for virtually everyone, not to mention its competitive pricing.
If you’d like to try out the Meepo Go electric skateboard for yourself, click here. Be sure to check out my full video review below.