The contraction in May was due to the record 22 percent plunge in non-conventional oil production (i.e., oil sands). Excluding oil sands, Canadian output shrunk 0.1% in May. Manufacturing fell 2.4%, the fastest since 2009; and a 15% drop at oil refineries.
Oil ends July with the worst monthly loss for WTI in a year. Reuters reports. WTI was down 15% by the end of the month from where it started at the beginning of the month.
Porsche Marketing With Better Gas Mileage
I wonder how many folks know that the Porsche 718 Boxster S runs on a flat four-cylinder engine. From Dan Neil, the car guy over at The Wall Street Journal:
The 2.5-liter turbo four in the new Boxster S produces 35 more hp (350 hp), with two fewer cylinders and nearly a liter less displacement than the naturally aspirated 3.4-liter six. Porsche says the flat-four cars get on the order of 15% better fuel economy on the European driving cycle.The specs show EPA fuel economy: 21 / 28 / 24 mpg, city / highway / combined.
Yes, I have never considered a Porsche due to the poor gasoline mileage but I guess I can't use that excuse any more.
Price? Well, it will compete with the current Tesla models available. The 2017 Porsche Boxster S: base price of $73,000; as tested by Mr Neil, $93,000.
I have trouble believing anyone buying an entry-level Porsche for $100,000 is seriously concerned about mileage, especially now that gasoline is well below $2.00/gallon in many parts of the US.
Mr Neil says the better gas mileage "bends the curve of Porsche's CAFE numbers." Wow -- at 24 mpg, one wonders how "awful" the flat-sixes are.
The article can be found in today's WSJ. It explains why Porsche is gong to flat-fours for all of its "starter sports cars": Cayman and Boxster.
By the way, I never knew "Caymans" were "starter cars for Porsche. That puts things into perspective around here where I see a lot of Caymans. Just like the BMW 3-series, I guess. When we were in Europe for 13 years, no one was caught dead in a BMW 3-series; if one had a BWM in Germany, it was a 5-series or a 7 series. But here in the states, folks settle for the 3-series much more often, it appears. I didn't realize that until I returned back to the states in 1996. I'm not sure I even knew the BWM 3-series existed until I got back to the states. A starter car. LOL.
By the way, my second car, a 1973 Chevy Nova SS, with a base price of under $3,000, would have compared nicely to the Porsche starter car, if comparing "bang for the buck."
Fastest EV Is Not A Tesla
It's a Corvette EV at this link: https://thescene.com/watch/wired/an-all-electric-corvette-breaks-a-world-record?source=player_scene_logo.
A 2006 Corvette Z06 has been converted to an all electric drivetrain and it just beat the land speed record for an street legal EV at 205.6 mph.