HEADLINES: $4.5 Billion In EV Losses
Ford now expects to lose $4.5 Billion on EV’s this year, up from the automaker’s original estimate of $3 Billion.
Ford Motor Company.
We stand corrected. Ford now expects to lose $4.5 Billion on EV’s this year, up from the automaker’s original estimate of $3 Billion. Ford attributes its staggering EV losses to lack of interest from consumers, along with the public’s slow adoption of the technology. In an attempt to help slow the bleeding and increase EV sales, Ford dropped pricing on several models in late July. It’s doubtful this tactic will help offset the company’s colossal losses. What will help offset the losses is Ford’s strong ICE vehicle sales, particularly for commercial vehicles. Sales of commercial Super Duty, Transit and F-59 commercial stripped chassis’ totaled $15.6 billion last year, a 22-percent year-over-year increase from 2021.
Drag Racing
New 6.0L ET Record
Austin Denny has been pushing the vertical limits of the 6.0L Power Stroke platform for years and a recent test session yielded a new 6.0L record. Focusing on getting his Hoosier slicks to hook and keeping the chassis settled, Denny’s ‘06 Super Duty rocketed to a 5.19-second eighth-mile—and at an incredible 145 mph. All of this occurred with his Pro Street F-250 still tipping the scales at a hefty 4,690 pounds. Next year, look for Denny to show up at the 4,400-pound class minimum and continue applying 2,200-plus hp to the track…
NHRDA Cruising Right Along
The return of NHRDA has sparked renewed interest in the resurrected diesel drag racing organization, but plenty of longtime members are still supporting it any way they can. Veteran drag racer and NHRDA member, Robin Ridgway, drove her 7.3L-powered Super Duty 1,400 miles across the country to compete at the Big Sky Truck Fest. Her reward was a win in the hotly-contested Sportsman class. Another long-haul racer was Lane Wright, who brought his LB7 Duramax all the way from West Texas and took the win in 7.70 Index. Other victors included Power Driven Diesel’s Will Terry in Super Street, Donavan Harris in Pro Stock, Joey Sterkel (in the infamous Black Mamba second-gen Dodge) in 6.70 Index, and Dawna Kraus in Top Diesel.
Across America
Diesel Prices Surge
If you’ve noticed the recent increase in diesel prices, you’re not alone. According to Transport Topics, diesel crested the $4/gallon mark on the heels of a 22.2-cent surge in the past couple of weeks. As of July 31 (and per the Energy Information Administration), the national average for a gallon of ULSD checked in at $4.127. This marks the largest two-week climb since January. However, despite the recent surge in the price we’re paying, it’s still $1.011 less (on average) per gallon than at this time one year ago.
Emissions
Study Reports The Benefits Of Natural Gas Do Not Outweigh Coal
A recent study published by Environmental Research Letters has found that even miniscule amounts of methane leakage from the extraction of natural gas can drive up natural gas CO2-equivalent greenhouse gas emissions to equal or exceed the effects of coal. What’s more is that recent aerial measurement surveys of American oil and gas production basins has revealed that natural gas leakage rates vary from as low as 0.65-percent to as high as 66.2-percent. Similar leakage rates have been found worldwide. To add insult to injury, many natural gas production systems, which were also evaluated via aerial survey, have shown gas leakage rates that often far exceed the greenhouse gas emission intensity of coal. Why are we shutting down coal plants left and right again?
