Home » Posts tagged 'fuel taxes'

Tag Archives: fuel taxes

Olduvai
Click on image to purchase

Olduvai III: Catacylsm
Click on image to purchase

Post categories

The $70 Million “Investment”

The $70 Million “Investment”

Electric cars continue to cost lots of money – contrary to the now-forgotten original point of the exercise, which was once upon a time to find a lower-cost alternative to gas-powered cars.

That’s gone away because gas is so cheap that – even with all the add-on taxes (about a fourth of the cost of each gallon) and the cost of regulatory mandates (such as the ethanol mandate) that have made fuel both more expensive and less efficient than it would otherwise be – finding a cheaper source of energy is going to take something spectacular, and battery power isn’t it.

That  inconvenient truth plus government subsidization of high-performance luxury-sport cars that happen to be battery-powered has perverted the incentives for electric car development away from economy and efficiency, neither of which are even discussed anymore – as if it doesn’t matter how much money is thrown on the EV bonfire, so long as the flames burn brighter and higher.

Which brings us to the $70 million “investment” Porsche is making in so-called “fast” chargers for the almost-here Taycan, the company’s first electric high-performance car.

The “fast” in quotes to make snarky about the abuse of language.

These chargers are indeed faster than charging up an EV via a household outlet – which takes half a day or overnight, depending on how flat-lined the battery is when you first plug it in.

But they are still paralytically slow vs. the time it takes to refuel say a 911 with gas.

These “fast” charger are also located at dealerships, which means having to go to the dealership – and then wait at the dealership – while your very quick but very long to get quick again Taycan gradually reboots itself.

Better hope there isn’t a line…

One of the many problems no one’s talking about with regard to this electric clusterfuck is recharge stall (or parking spot) throughput.

 …click on the above link to read the rest of the article…

“We Made Mistakes”: France Changes Tone On Yellow Vests As Movement Hits Canada

The Macron government has changed its tone after five straight weeks of violent “Yellow Vest” demonstrations across the country.

On Sunday Prime Minister Édouard Philippe admitted to Les Echoes newspaper that mistakes were made in the handling of the protests, and that a dialogue is needed.

We made mistakes. We did not listen enough to the French people. I remain convinced that they want this country to be transformed,” said Philippe.

Protesters donning yellow reflective jackets began filling the streets across France on November 17 – initially in protest to a fuel tax aimed at combating global warming – and morphing into a country-wide rebuke of the Macron government.  There have been seven deaths, over 4,500 arrests and hundreds of injuries during the demonstrations – as protesters smashed store windows, looted, set fire to vehicles and defaced statues. In addition to a massive presence, Police have responded to the protests with tear gas and pepper spray to try and disperse crowds.

In early December Finance Minister Bruno Le Maire called the economic impact of the protests a “catastrophe,”

Meanwhile, the Yellow Vest protests have spread to multiple European countries – most notably the Netherlands and Belgium, while also spreading to Israel, Iraq and now Canada.

Yellow Vest protesters and counter-protesters were seen last weekend in several Canadian cities, including Toronto, Calgary, Halifax, Edmonton, Saskatoon and Moncton.

“I have never met even one Canadian that understands how a carbon tax is going to reduce carbon emissions,” said protester James Hoskins to CTV Atlantic. Another Canadian Yellow Vest, Barry Ahern, called Prime Minister Justin Trudeau’s summer grant program “oppression of Canadians by our own people.” The program has been criticized for requiring organizations applying for summer job grants to sign an “attestation” confirming that they respect LGBT and abortion rights.

…click on the above link to read the rest of the article…

France Deploys 89,000 Cops Amid Fears Of Yellow Vest Rebellion On Saturday

French authorities will deploy at least 8,000 riot police and gendarmes in Paris on Saturday, and 89,000 forces across the country according to the Prime Minister, as the Elysee prepares for “act four” of the Yellow Vest movement’s violent protests against the Macron government.

In addition to the closure of the Eiffel Tower on Saturday, several Paris museums have announced that they won’t be open this weekend.

“The demonstrations announced Saturday, December 8 in Paris cannot guarantee the safety of visitors, the Sete has made the decision to close the Eiffel Tower,” announced the Societe de la Tour Eiffel which operates the monument.

Despite Macron’s government delaying a planned fuel hike by six months, the Yellow Vest movement has called on its followers to “stay on our course,” over Facebookand gather for “The Act IV”  on Saturday the 8th, in what will be the fourth week of protests.

Coup attempt?

French intelligence services have reported to the Elysee Palace – the official residence of President Macron, in light of “calls to kill” and “carry arms to attack” government officials, parliamentarians and police, according to Le Figaro. “They are putschists. We are in a coup attempt,” said Le Figaro‘s sources.

On Thursday, Yellow Vest leader Eric Drouet said “Saturday will be the final outcome.Saturday is the Elysee,” adding “we all would like to go to the Elysee.

Le Figaro also reports that Saturday’s demonstrations may involve unprecedented violence, as it may include “a hard core radicalized” element,  from “both the extreme right and extreme left.

…click on the above link to read the rest of the article…

Macron Folds: France Suspends Fuel Tax Hike After “Yellow Vest” Riots

With his popularity rating at record lows (recent polls put it at around 26%, on par with Hollande), his capital city burning and the populists he defeated during his stunning electoral victory last year making serious electoral inroads, French President Emmanuel Macron finally caved, and on Tuesday ordered a six month suspension of planned ‘fuel taxes’ which spurred widespread and destructive protests across France over the past three weeks.

After reportedly weighing declaring a state of emergency that would have cleared the way for an unprecedented crackdown on dissent, Macron decided that such measures would only intensify the popular opposition to his government. And according to Reuters, Prime Minister Edouard Philippe has declared a suspension of the staggeringly unpopular tax.

“No tax deserves to endanger the security of the nation,” Philippe said in a televised address, who on Monday held separate meetings with opposition party leaders, in which they demanded the scrapping of the planned increase in fuel taxes. The same day striking students closed down 100 high schools and rising fuel shortages were reported in some parts of the country.

A freeze of planned fuel tax increases was one of a number of measures called for in an editorial by 10 self-proclaimed gilets jaunes representatives published on Sunday in the Le Journal du Dimanche newspaper. They also demanded the holding of countrywide consultations over taxes.

The decision marked the first time that Macron has backed down from implementing an unpopular policy in his 18-month presidency as a result of the furious public response, and is set to unleash even more protests as the emboldened French people now realize that taking to the streets will results in success.

Populist

…click on the above link to read the rest of the article…

Is This Macron’s “Let Them Eat Cake” Moment?

Never underestimate French protests and never underestimate tax protests. Still, that seems what French President Emmanuel Macron has been doing…

Former US President Ronald Reagan once described what, according to him, was typically a government’s view of the economy: “If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.” With diesel, the cycle started with subsidies. Between 1995 and 2015, the share of diesel cars on European roads doubled to around 50 per cent. Without government support for diesel-fulled cars, which were thought to emit less CO2 than their petrol counterparts, researchers have concluded the share would have remained constant around 25 per cent.

Now that we’ve arrived in the taxation stage, which has pushed up prices by 23 percent in France over the last year, Macron is feeling the heat. Some 77 per cent of French people now support the yellow vests movement, and the number is rising. Even among Macron’s own voters, support stands at 41 percent. Some of the leaders of former President Hollande’s party are also on the street, despite being the ones who came up with some of the taxes that are being contested. The centre-Right and hard-Left opposition have also united against Macron to express support.

The French socialist party has accused Macron’s government of trying to link this grassroots movement to the far right Marine Le Pen “to better disqualify it”. But according to sociologist Vincent Tiberj, the yellow vests movement derives largely from the lower-middle classes, who earn enough to pay taxes but not enough to live comfortably. A lot of the protesters come from “La France profonde”: small towns and rural areas that have often gone through dire economic times, far away from the world of Emmanuel Macron, a former investment banker.

…click on the above link to read the rest of the article…

There Is Suddenly A Far Bigger European Problem Than Brexit Or Italy

Forget Brexit and Italian populists for a second. It’s worth paying attention to what’s going on in France.

For more than two weeks, the country has been disrupted by an unusual protest: the so-called “Gilets Jaunes” or “Yellow Vests.” France is used to labor unrest and chaos affecting transport of course, with strikes something of a national pastime.

But this time it’s different.

Some 100,000 people blocking toll roads, petrol stations and crossroads is creating major disruption to transport and retail. It’s also proving to be extremely tricky to defuse, as there’s no single protest leader to negotiate with.

For investors, the question is whether it could derail the outperformance of French equities in 2018. One thing is clear. These protests are a real threat to the country’s retailers, including Carrefour and Casino, which are already busy battling a price war and trying to fend off Amazon.com’s efforts to penetrate their home market. Big-box retailers have been hurt by the demos and blockages throughout the country, with customers denied access to some hypermarkets and supermarkets for entire days at a time. They recorded an average fall in consumer-good sales of 35 percent on Nov. 17 and of 18 percent the following Saturday, according to Nielsen data.

All this is adding to the perception of shrinking purchasing power in France, in particular among people on lower incomes. And that “doesn’t bode well” for the year-end holiday retail season, which needs a boost after the unseasonably hot weather of the previous months, according to Invest Securities. In fact, consumer confidence has been depressed since the summer, and this might be the final straw.

…click on the above link to read the rest of the article…

The Next French Revolution – Is it Beginning?

The austerity measures of the EU are having a profound impact in Europe. In Paris of December 1st, 2018 (right on time with our volatility models for December) there was a major civil uprising, the worst France has witnessed in recent decades. Yellow Vests have converged in Paris to protest high living costs or in other words – a TAX RIOT. Rioters ran across central Paris torching cars and buildings, looting shops, smashing windows and clashing with police. The French President, Emmanuel Macron, was in Argentina for a G20 summit and said he called an emergency meeting on Sunday when he would return. Jeanne d’Hauteserre, the mayor of Paris’ 8th district, near the Arc de Triomphe, came out and told the press: “We are in a state of insurrection, I’ve never seen anything like it.”

This has followed what was billed as a violent protest two weeks before of nationwide against fuel taxes and living costs. This tax rebellion is known as the “Yellow Vest” movement after fluorescent jackets kept in all vehicles in France. Politicians simply never learn. This is not just the youth. This is the older generations as well. Revolutions come become of taxes and corruption. The famous saying of Marie Antoinette “Let them eat cake” was the popular slogan during the French Revolution. There is no evidence that she ever actually said those words. Still, it inspired a revolution. The “cake” was not a desert, but it was a term that referred to the crust of the pâté which was left over. It certainly seems that the EU politicians are making the very same mistake. With that callous remark that was attributed to her, the Queen of France became the most hated symbol of the decadent monarchy and fueled the revolution that would cause her to (literally) lose her head several years later.

…click on the above link to read the rest of the article…

Olduvai IV: Courage
In progress...

Olduvai II: Exodus
Click on image to purchase