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Category: economics

Here’s what we already know about Ford’s electric F-150.

Ford is set to unveil its next major electric vehicle, the F-150 Lightning, at 9:30PM ET on Wednesday, May 19th. But this isn’t just another EV event. An electric version of the automaker’s iconic F-series pickup truck is a very big deal for Ford, for the auto world, for car buyers, and even for the US economy.

Ford is very proud of its F-series trucks, and for good reason. It’s the bestselling truck in the US for 44 years. It’s also the bestselling vehicle in the country, period. According to Edmunds, F-series trucks are the most popular vehicle in 30 out of 50 states in the US.

That means the F-Series trucks is central to Ford’s profitability. The Detroit automaker raked in around $42 billion in revenue in 2019 from nearly 900000 F-series truck sales in the US, according to a Boston Consulting Group study commissioned by Ford — more than most major companies and about four times as much as Tesla made in all of 2020.

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Cryptocurrencies like Bitcoin have been billed as a major disruptor to finance. But digital currencies issued by governments might be even more radical—they may even threaten the future of traditional banking.

Read our special report, “The Future of Banking” : https://econ.st/3tuTT8y.

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Read more of our coverage on Finance & Economics: https://econ.st/3b0g3cs.

Listen to Economist’s podcast “Money Talks: the age of free money”: https://econ.st/3eUduK3

Is digital yuan set to transform both Chinese and international banking? https://econ.st/3eYqcYb.

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Local media reports quoted Wang as saying that artificial intelligence, 6G, quantum technology, driverless vehicles, intelligent networks and other “frontier areas” would be the focus of Shenzhen’s investment plans, while the value of its digital economy would account for more than 31 per cent of GDP by 2025.

Money will be used to support innovation in core technologies, city’s Communist Party chief Wang Weizhong says.

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Transitioning from fossil fuels to a clean hydrogen economy will require cheaper and more efficient ways to use renewable sources of electricity to break water into hydrogen and oxygen.

But a key step in that process, known as the or OER, has proven to be a bottleneck. Today it’s only about 75% efficient, and the precious metal catalysts used to accelerate the reaction, like platinum and iridium, are rare and expensive.

Now an international team led by scientists at Stanford University and the Department of Energy’s SLAC National Accelerator Laboratory has developed a suite of advanced tools to break through this bottleneck and improve other energy-related processes, such as finding ways to make lithium-ion batteries charge faster. The research team described their work in Nature today.

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And as well as producing less waste, insects can also live off food and biomass that would otherwise be thrown away, says Collins, contributing to the circular economy, where resources are recycled and reused. Insects can be fed agricultural waste, such as the stems and stalks from plants that people don’t eat, or scraps of food waste. To complete the recycling chain, their excrement can be used as fertiliser for crops.

Insects are a nutrition-dense source of protein embraced by much of the world. Why are some of us so squeamish about eating them?

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Coal is a highly polluting and expensive way to generate electricity. This analysis shows that we have economic alternatives to continuing to burn coal for power in the US. Furthermore, analyses such as “The 2035 Report” show that we can fully retire coal, stop building other fossil fuel plants (namely gas), and still reliably meet electricity demand, while providing a host of environmental and societal benefits. There are existing policies that can help policymakers closely examine the cost burden of generation resources used today, procure cheaper and cleaner generation resources going forward, and address current assets on the books. The continuation and intensification of the coal cost crossover demands attention from policymakers and consumers alike.

The costs of most existing US coal-fired power plants are now more expensive than the total costs of wind and solar.

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The mood a year later is very different, despite a brutal surge in coronavirus cases that is threatening the economic recovery. India’s startup community has found itself in an unprecedented funding bonanza.

In the first four months of 2021, 11 startups have attained unicorn status, meaning they’ve reached a valuation of at least $1 billion.

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Saudi Arabia could save some $200 billion over the next ten years by switching from crude oil to natural gas and renewables for electricity production, Reuters reports, citing the Kingdom’s Finance Minister.

“Instead of buying fuel from the international markets at $60 and then selling it at $6 for Saudi utilities, or using some of our quota in OPEC to sell at $6, we’re going to actually displace at least 1 million barrels a day of oil equivalent in the next 10 years and replace it with gas and renewables,” Mohammed al-Jadaan said.

OPEC’s largest oil producer and world’s largest exporter of crude is on a desperate quest to reduce its dependence on oil revenues by diversifying its economy away from the flagship export stock. Earlier this year, Crown Prince Mohammed, who appears to be the de facto ruler of Saudi Arabia, announced yet another investment program with a view to this diversification that he said would “unlock new local investments valued at SAR 5 Trillion through the end of 2030.”

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**Space Renaissance International (SRI) Medici Fund** is happy to announce that, due to the generosity of our Education Sponsors, we are able to award a few **prizes and grants for students** of any age, interested to space settlement, exploration and civilian development. Three programmes are now open to applicants, in the frame of the **2021 Space Renaissance Congress “The Civilian Space Development”**.

The 3° SRI World Congress (SRIC3) will take place in a virtual format and will provide attendees with cutting-edge developments in Space Settlement & Exploration, Human Rights, Ethics, Policies, Engineering, Entrepreneurship, Energy, Economics and Education from leaders in their respective fields. Experts in research and industry will present the emerging technologies and future directions in their field. Students at all ages, who are interested in Space Science, Technology, Philosophy, Economy, Policy, Law, Art, are warmly encouraged to participate to the 2021 Space Renaissance Congress. Please visit this link to apply to any of the Student Sponsored Programmes: https://2021.spacerenaissance.space/index.php/students-sponsored-programs/

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Are we gonna get paid just to live in an automated world?

We may need to pay people just to live in an automated world, says Elon Musk. He reckons the robot revolution is inevitable and it’s going to take all the jobs.

For humans to survive in an automated world, he said that governments are going to be forced to bring in a universal basic income—paying each citizen a certain amount of money so they can afford to survive. According to Musk, there aren’t likely to be any other options.

“There is a pretty good chance we end up with a universal basic income, or something like that, due to automation,” he told CNBC in an interview. “Yeah, I am not sure what else one would do. I think that is what would happen.”

The idea behind universal basic income is to replace all the different sources of welfare, which are hard to administer and come with policing costs. Instead, the government gives everyone a lump sum each month—the size of which would vary depending on political beliefs—and they can spend it however they want.

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