George Soros gave Ivanka's husband's business a $250 million credit line in 2015 per WSJ. Soros is also an investor in Jared's business.

Saturday, January 19, 2013

Electric car market fizzles in Communist China, elec. cars yield more greenhouse emissions since electric grids are powered by coal, China ramping up coal use overall, citizens risk jail for reporting pollution anyway-The Nation

1/16/13, "China's Green Leap Backward," The Nation, Lucia Green-Weiskel
 "But by the end of 2012, even the most optimistic surveys of China’s energy mix showed that low-carbon growth is still nowhere near mainstream. In fact, the clean-tech industry is encountering major obstacles, with government officials admitting to “broad operational difficulties” regarding the latest solar power expansion. For many Beijingers, it is difficult to maintain enthusiasm for China’s so-called leadership in low-carbon growth when the city’s air is rapidly deteriorating. A mid-January reading from the US embassy showed the Air Quality Index at a shocking 728—on a scale of 1 to 500, with 200 considered a serious health risk. 

Three recent developments have shifted China’s tack toward a more fossil-fuel-centered approach and away from the low-carbon model the country pursued under outgoing president Hu Jintao. This trend is dangerous for the entire planet, since China is also the world’s largest emitter of greenhouse gases and will soon have the world’s largest economy. 

First, the inauguration of pro-market president Xi Jinping marks a shift away from the conservation-oriented, government-planned approach of his predecessor toward a model marked by increased privatization, including tax cuts for private enterprises, relaxed political controls, programs to boost domestic consumption and intensified resource exploitation. Xi insists that low-carbon growth will remain a priority and that the ambitious energy-saving targets of the twelfth Five Year Plan, issued in March 2011, will be met. But the targets were written in such a way that many of the details for implementation are open to interpretation. While the government had previously signaled that it would rely on growth in wind and solar to meet its goal (11.4 percent of total energy from renewable sources by 2015), it now looks like the bulk of that will come from nuclear and hydroelectric. Wind and solar are growing, but as a proportion of China’s total energy expenditure, coal is growing much faster. 

Xi’s environmental pledges have aroused widespread doubts. Two anti-pollution activists, Wu Lihong—who was jailed for publicly implicating the government in the fouling of Lake Tai—and Chen Faqing, recently placed an ad in The New York Times calling on Xi not to abandon China’s ambitious energy targets. Wu was quoted as saying, “Mainland officials are apt to talk about environmental protection, but we have witnessed exactly the opposite…. That’s why we stress the importance of matching their words to their deeds.” 
 
Second, shifts in US energy consumption patterns, as well as changes in estimates of global oil reserves, will affect China’s long-term energy strategy. The International Energy Agency reports that discoveries of shale gas combined with new drilling technologies will make the United States the world’s largest oil producer by 2020. This is expected to make oil reserves in the Middle East and Central Asia newly available to China—which could reverse the shortage-driven incentive structure that promoted growth in China’s renewable energy sector. At the same time, China discovered that it may have the largest shale gas reserves in the world. A Chinese shale gas boom, coupled with increased output from coal and imported oil, could marginalize wind and solar energy. Moreover, with Washington now looking to shale gas rather than wind and solar for new energy resources, prospects for increased US consumption of China’s green exports are diminished....

Third, consumption patterns have eroded one of China’s most promising areas for low-carbon development: electric vehicles. A recent McKinsey & Co. report ranked China’s EV market a dismal fifth behind Japan, the United States, France and Germany. Even with generous subsidies for consumers and manufacturers, EV sales are sluggish, accounting for less than 0.02 percent of total vehicles sold (in the United States, it’s 0.09 percent). Demand is growing for gas-guzzling SUVs as well as luxury and medium-weight vehicles, especially foreign models, with imports of foreign-manufactured cars nearly doubling in 2010. The top-selling car in 2011 was the Buick Excelle, followed by the Volkswagen Lavida and the Chevrolet Cruze. China’s domestic vehicle manufacturers are drastically scaling back their small, fuel-efficient models and EV fleets and attempting to regroup around the new high-carbon model. 

In fact, China’s EV manufacturers are turning away from personal cars altogether and focusing on hybrid and electric city buses and taxi cabs

The major buyers of EVs are local governments and large state-owned corporations, not individuals.

Furthermore, without reform of the energy grid, EVs will do little to reduce greenhouse gas emissions. My colleagues and I at the Innovation Center for Energy and Transportation recently completed a study of China’s EV industry in which we discovered that,

on average, EVs produce more greenhouse gas emissions per kilometer than their traditional internal-combustion counterparts. 

That’s because EVs draw energy from electricity grids, some of which rely on coal—the dirtiest of fossil fuels—for up to 98 percent of generation. 

Only in regions where the grid depends on nuclear and hydro energy did the EV reduce its carbon footprint."...via Tom Nelson





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I'm the daughter of a World War II Air Force pilot and outdoorsman who settled in New Jersey.