Horrible Heat Killing Humans–Climate Crisis AM Edition 4/2/24
Crude oil prices reached a five-month high of $85.22. The primary reasons were the growing rebound of the Chinese economy, a cut in Mexican production, and a Ukrainian drone attack on Russian oil facilities. China is the largest crude importer in the world. According to Reuters, “Mexico’s state-run oil company, plans to halt exports primarily of its Maya crude over the next few months, according to people with knowledge of the situation.” Climatecrisis247 believes that crude will continue to rise toward $100. In June 2022, it rose above that level as Russia invaded Ukraine. The current drone attacks will continue. Russia is often listed as the world’s second-largest exporter, primarily to India and China. OPEC+ has cut production. Middle East tensions have grown as Israel attacked Syria yesterday. The Middle East military tension could continue to rise. Several nations in the region are among the world’s largest exporters. High oil prices are often a threat to the global economy.
Truck Problems –A Pollution Puzzle
Climate Crisis Cities –Miami And New Orleans
Heat may become the most significant climate-triggered killer for humans. According to CNBC, “Heat is the leading weather-related killer in the U.S. Data from the Centers for Disease Control and Prevention showed that more than 1,700 deaths were the result of heat-related causes in 2022, roughly double the toll of five years prior.” The same holds for many nations around the world. Climatecrisis247 believes that the issue, which is horrible in some large cities, will worsen. It is not unusual for temperatures in places as geographically widespread as Australia, India, and the Middle East to have temperatures over 110 degrees F, which sometimes last for days. The temperature was above that level in Phoenix for 52 days last year. Some of the cities, particularly in India and the Middle East, have poor air conditioning, and the problem worsens yearly.
Rise In China EV Stock Values
The market value of China’s EV and consumer electronics company Xiaomi topped that of both General Motors and GM. Xiaomi’s stock surged after it launched a new EV. Reuters says its market cap is $55 billion, just ahead of America’s two large car companies. Cliimatecrisis247 believes that while most of Xiaomi’s market cap is due to its smartphones, investors have China EV fever. China’s largest EV company, BYD, is expected to start selling cars in the EU and eventually the US. China’s EVs are much less expensive than those sold in these markets. None of the companies has a market cap close to Tesla’s, which is $558 billion, despite a drop of over 25% this year.
BYD Vs. World’s Car Companies
China’s BYD had a mediocre first quarter in terms of unit sales. However, the number in March surged. The quarter’s total was 626,623, up 13%. March sales rose 46%. BYD should not be compared entirely to Tesla. According to The Wall Street Journal, For the first quarter of 2024, BYD sold roughly 300,114 pure EVs globally, up 13% over the prior-year period. Sales of plug-in hybrids, which made up 52% of the company’s total first-quarter sales, rose 14% to about 324,000 vehicles. Climatecrisis247 believes BYD and other Chinese EV companies are the greatest threat to Tesla and legacy car manufacturers. If they can make their way around EU and US sanctions or if those are dropped, their low-priced cars will be winners in the US and EU.
