Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. But I can't by law give you advice, and I do make mistakes. Remember: the unexpected sometimes happens. Oddly enough, the expected does too, but all too often it takes longer than you thought it would, or on the other hand happens more quickly than you expected. The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.
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Friday, December 9, 2016
Paris Air Pollution
It's easy to worry about the rise of Trump and his Troglodytes. These antediluvian backward-looking idiots want to pull the US out of the Paris accord and reverse US moves towards combating climate change. And make no mistake, they will have some effect. Yet they can't and won't stop the revolution. It's simple: in electricity generation, renewables are cheaper than coal, and as cheap as gas. In transport, EVs (electric vehicles) are already cheaper to run than petrol- or diesel-driven cars, and soon -- by end 2017 -- will have similar sticker prices. Meanwhile, outside the demented Right in the US (and Australia), the reality of global warming is crystal clear. And so is the obviousness of other kinds of pollution created by particulate emissions from diesel and petrol cars. This episode of toxic air pollution in Paris shows why the switch to EVs won't stop. Several European countries plan to ban sales of new petrol-driven cars altogether within 10 years. My guesstimates are than within 15 years, nearly 100% of all new car and lorry sales in the US and Europe will be electric, Whatever the Troglodytes say or do.