Daimler Unveils Electric Truck Weeks Ahead Of Tesla; The Energy And Market Page, T+277 -- October 25, 2017 -- Why I Love To Blog -- New Home Sales Growth Surges To 25-Year High

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Later, 10;07 p.m. Central Time: from a reader with regard to that big electric toy truck -- Bravo, good news for the German lignite coal industry...keep them coal burning trucks goin!

 

Original Post 

Daimler unveils big electric truck weeks ahead of Tesla. Maybe that's why TSLA dropped over $11/share today. By the way, watching Chipotle today is a huge warning shot across the bow for anyone shorting TSLA. Or holding TSLA long. LOL.

The truck is called the E-Fuso Vision One. Bloomberg reports that it can carry up to 11 tons a distance of 220 miles before it needs a recharge. This model is just a prototype, but the company says it can have the truck on sale within four years in the US, Japan and Europe.

It's ideal for shorter trips between cities, rather than cross-country hauling.

Tesla was set to unveil its truck tomorrow, October 26th, but the company delayed the announcement because of Model 3 production issues. It's worth mentioning that even that date was delayed, as the original reveal was targeted for September. You can bet that Elon Musk is not thrilled with Daimler AG today.

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Original Post 

I was out and about all day. I turned on CNBC and the first thing I caught (at 2:58 p.m. CT) was the anchor noting that WTI was "down today" (all of 20-some cents, but still above $52) due to a surprising build in US crude oil inventories.

Wow, I mentioned that last evening and again this morning that US crude oil inventories increased -- it was not much, but it was going the wrong direction. For those expecting the price of WTI to go up any time in the near term, I would suggest looking at these data points:

• RBN Energy analysis suggesting that US oil companies will be increasing/maintaining CAPEX this next year (2018) and by extension, increasing/maintaining production
• John Kemp's stunning graph this morning of all the crude oil the US is exporting -- despite all the oil being exported, US inventories increase
• OPEC and everyone else counting on "demand" (not supply) to drive the price of oil going forward (despite the fact that the US driving season -- the demand season -- is coming to an end for this year)

One thing that might drive US crude oil inventories down: if refinery utilization improves (US refining utilization is still below 90%).

Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, or relationship decisions based on what you read here or think you may have read here.

Housing sales: huge jump in September for new home sales. Up almost 20%. Rick Santelli on CNBC this morning was absolutely shell-shocked, or so it seemed (but then he always seems shell-shocked) about the number. I thought the housing number would help the markets but it did not. Story at WSJ.