patrick.net

AmericanKulak says

RWSGFY says

The most recent $50B loan is guaranteed by Pukin's $300B stuck in the West, not the USA.

And the Iraq War was going to be paid with Iraqi oil.

The difference is the money are already in the bank. It's not some oil in some sand somewhere..,

BMW Says EU Ban on Gasoline Cars from 2035 Is “No Longer Realistic”

Germany’s car manufacturing giant BMW is warning that an EU ban on the sale of gasoline and diesel cars from 2035 is “no longer realistic” amid slow EV sales as the European auto industry will see a “massive shrinking” with such a ban.

European carmakers are already struggling with their EV sales as subsidies in many countries are coming to an end and Chinese low-cost vehicle makers are gaining market share.

Last year, the EU member states approved an emissions regulation under which the bloc will end sales of new carbon dioxide-emitting cars and vans in 2035.

The rules target 55% CO2 emission reductions for new cars and 50% for new vans from 2030 to 2034 compared to 2021 levels, as well as 100% CO2 emission reductions for both new cars and vans from 2035.

Under the regulation, the European Commission will assess in 2026 the progress the EU has made in achieving the target. The Commission will decide whether the targets need to be reviewed.

But BMW’s chief executive Oliver Zipse said on Tuesday at the Paris Automotive Summit that the ban “could also threaten the European automotive industry in its heart.”

The current regulations will “with today’s assumptions, lead to a massive shrinking of the industry as a whole,” Zipse added, as carried by Bloomberg.

Electric vehicle sales in Europe have been suffering this year. Sales in Germany, for example, are plummeting as Berlin ended subsidies at the end of 2023.

Amid slowing sales of EVs, the European Automobile Manufacturers' Association, ACEA, last month called for urgent action to reverse this year’s trend of declining EV sales.

The European auto manufacturers united in ACEA, called on the EU institutions “to come forward with urgent relief measures before new CO2 targets for cars and vans come into effect in 2025.”

Europe’s automakers “are playing our part in this transition, but unfortunately, the other necessary elements for this systemic shift are not in place,” ACEA said.

https://oilprice.com/Latest-Energy-News/World-News/BMW-Says-EU-Ban-on-Gasoline-Cars-from-2035-Is-No-Longer-Realistic.html

Al_Sharpton_for_President says

The rules target 55% CO2 emission reductions for new cars and 50% for new vans from 2030 to 2034 compared to 2021 levels, as well as 100% CO2 emission reductions for both new cars and vans from 2035.

Better get working on those nukes asap. They take at least 5 years to build. And they'll probably need a dozen at least. And if natural gas usage is high and flow short, people might switch to electric for heat in the colder areas of Europe in the winter.

Renewables aren't going to cut it if 100% of new cars are EV. Solar will barely work in the northern nations in the winter. A engineer could figure out back of napkin math and tell you in 5 minutes that goal is 100% unrealistic.

Euros also like their ICE vehicles as well and won't give them up. They're not the sharpest knives in the drawer though when it comes to planning. Engineering sure, government no. I hate the term melting pot, but the US succeeded by melting language into one for a large land mass. Race, we segregate ourselves which is fine. I wish we make english the official language.

But Europe if you move around it's possible that you have to be able to half ass 8 or so different languages. So a lot of shit gets lost in translation. You can't tell if someone is lying, being sarcastic, basic language things kind of like body language. If they made English the EU language, they'd get along better in the Union and globally.

It's generally working here in the states besides city neighborhoods where like ethnicities move to and it take 2-3 generations for them to finally get proficient at English. Anywhere rural it's 100% English speakers. Even my native Puerto Rican neighbor speaks solid English having mostly grown up in PR.

EU also is targeting Musk:

https://arstechnica.com/tech-policy/2024/10/eu-considers-calculating-x-fines-by-including-revenue-from-musks-other-firms/

The fines are from their inability to censor X. Musk ain't cooperating, the don't like it.

And...it gets worse:

Here's a chart on VC financing between the USA, UK, and EU. And 75% of UK's financing is greater London.

DOGEWontAmountToShit says

Visegrád 24 also quoted Sweden’s deputy prime minister and energy minister, Ebba Busch, as being “furious with the Germans.” The article continued, explaining that due to Germany’s decision to shutter its nuclear plants, “people in southern Sweden and southern Norway now have [to] pay $5 for a 10-minute shower.”

https://robertbryce.substack.com/p/germany-gets-dunkelfked-again-norway

They seem to be experiencing a bit of 'all green measures are designed to fail' antipathy. Maybe their frozen and fuel plundered asses will shake them out of their socialist delusion sadistic kakistocracy.

I'm in an argument with a Euro on FB about EV's. Says she does multi-million dollar (euro) payroll. She says EV's are cheaper than my car or what I could buy right now that works for me. I told her the employees probably don't like you because you suck at basic math.

I think Europe is crashing. The reliance on renewables is going to be their downfall. Energy is the core of any economy and they decimated it. That's why I'm hopeful for the next 4 years at least in the US. I think Europe is in a downward spiral. It's why my BIL chose not to play another year in Europe. Everything is so expensive and taxes are through the roof over there. Fine you get holiday, but you're poor by all means.

WookieMan says

I'm in an argument with a Euro on FB about EV's.

You are wasting your time with socal2, you mean.

DOGEWontAmountToShit says

WookieMan says

I'm in an argument with a Euro on FB about EV's.

You are wasting your time with socal2, you mean.

I think he sees the light. EV users justify the purchase by cheap electric and fun driving. Those days are coming to an end for overpriced cars.

I like the looks of American and even foreign high end cars. I don't want to be in a car has that has no utility. Don't care how luxurious or fast. I want a car that if I hit someone they die and I can fit 6-7 people in it. And I can tow 2 bricks from the pyramids more than 50 miles. I want a lethal, useful care with milage more than that. No EV does that.

WookieMan says

EV users justify the purchase by cheap electric

No more 'cheap electric' as EVs are only viable as long as they are a niche segment of the market.

Don't buy German cars. Even the ones 'manufactured' in the US are mostly just assembled here with major parts (engines, trannies, etc.) imported from Europe.

All that is going away. Faster than ppl realize.

Amazing that Stellantis is more set up to whether the rapid deindustrialization of Europe & accelerating overall deglobalization than Volkswagon, BMW and Daimler are. But there you have it.

Not saying that Stellantis WILL do so. Just that they can, if their leadership is competent enough. They own plants and have car parts relationships via their Chrysler assets. Fiat was stupid not to avail itself to them fully, for example.

Stellantis is entirely fucked. I keep seeing long time Jeep afficionadoes turn on the company. Many Jeeps are fabricated in Italy, which is damned strange. Unless the subsidies and loopholes and abused tax breaks on both sides of the Atlantic are excessive.

It's always darkest before the Don, everything bad seems unsolvable.

But as another poster said today, the Worm turns. The pendulum swings. The Wheel of Boethius, etc. etc. etc.

Really, there's a huge opportunity for Wall Street to profit from financing Re-Industrialization. Restoring Industry will create opposition and competition between Finance and Production, which I think is a major cause of current problems.