Wordsmith. Latest book: A Banker's Journey: How Edmond J. Safra Built a Global Financial Empire is out 8/30! tinyurl.com/2rmtvyfj
Westport, Ct/New York
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Slo-mo disintermediation of petroleum as a transport fuel: European buses and trucks edition
electrive.com/2026/10/29/bat…
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Capitalists respond to rule of Socialist mayor in New York by. . . . investing $3.3 billion to build a single office tower in midtown Manhattan. finance.yahoo.com/real-estat…
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Seems to be the same strategy big U.S. automakers are pursuing: lower volume, higher price point, better margins
cnbc.com/2026/10/23/airfare-…
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My bit about the AI roll out is that, as with any new technology, the people speak (consumer uptake/political backlash/social license), and capital speaks. Capital can be willing to give $ on exceedingly generous terms and then turn on, well, a dime.
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Americans are entirely unaware of this but in Europe, pure EVs are already at 30% of new sales and gaining about .75% of market share per month. acea.auto/pc-registrations/n…
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In addition, across Europe operators of big fleets of vans, trucks and buses are electrifying rapidly
electrive.com/2026/10/21/bel…
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Gasoline is about $10 per gallon in France.
Good morning with good news: France's September Full-EV sales reach 42% of auto sales.
Full-EV sales skyrocket 108% in September!
Full-EV and Plug-In Hybrid were 48% of auto sales!
Petrol-only cars were just 13% and diesel collapsed to 2.4%!
Wow!
aaa-data.fr/actualites/immat…
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far better to subsidize demand destruction than to subsidize demand
"This year, [the etrucks in China] will save the equivalent of 141 million barrels of oil, as much as China imports from Kuwait.
Price caps are a temporary patch, but electric trucks are a permanent hedge"
🚛🚛🚛
#alwaysbecharging ⚡️
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Germany was thought to be a stubborn laggard in the electric mobility transition. Look what seven months of very high petrol prices have done
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If you run fleets with fixed routes, electrification is going to make more and more sense based on cost alone
"In a record-setting commercial truck deal, international shipping giant FedEx has placed an order for 2,000 all-electric box trucks from American startup Harbinger in a deal that’s reportedly worth more than $300 million" — an investment FedEx expects will save them $800 million in avoided diesel costs ($20k per truck per year!)
electrek.co/2026/10/03/fedex…
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Follow this account. The EV sales coming out of Europe are insane. Years worth of market share gains in months. It is going to be $10/gallon gasoline and Chinese imports - not regulations-- that drives the e-mobility transition in Europe
The Netherlands reported 3,165 Tesla sales and 8.7% market share in September. BEV penetration is 52.6% and Tesla has 16.6% of this segment. 🇳🇱
• Market share is 523 basis points or 150% above the 3-month trailing average of 3.5%
• Highest market share of the year
• Tesla second best-selling brand
• Model Y best-selling car and Model 3 second best-selling
• 66% Model Y and 34% Model 3
• +58% vs. September last year and +52% compared to June the third month of the previous quarter
• Second best September ever
• Best month of the year
• Year-to-date +10% over same period last year
• Year-to-date is 67% or 8./12 of last year's total
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When it comes to AI rollout, regulators/politics will have their say. And so, ultimately, will capital. Both can be remarkably fickle.
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If this becomes more common, we may have to revise the narrative surrounding plug-in hybrids.
electrive.com/2026/09/18/vol…
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The private equity complex invested vast amounts to have the policymakers who have given us these higher interest rates in place
wsj.com/finance/investing/ri…
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tough to have a service economy without service workers, vol. 57, chapter 6.
nytimes.com/2026/09/14/us/ha…
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that's one way to insulate your economy from the effects of $100/barrel oil
Extraordinary milestone reached. China, the world’s largest car market:
⚡ All Top 10 best-selling cars, August = NEVs
🔋 9 of the Top 10 were fully electric BEVs
⛽ The first pure petrol car? #13
It’s an extinction event for the combustion engine. #EV
carnewschina.com/2026/09/09/…
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