“The company lost $260 million in 2015 when one of its Falcon 9 rockets, carrying two tons of cargo to the international space station, exploded shortly after liftoff,” writers Rolfe Winkler and Andy Pasztor reported for The Journal. The financial hit was so hard because of launch delays. SpaceX did an internal investigationand made changes […]
Read more "SpaceX lost a quarter of a billion dollars after one of its rockets blew up"
Musk is a crony-capitalist of the worst ilk. He plays both side of the aisle and wraps it all up in fanciful oratory about colonizing Mars. American’s literally eat it up. Musk is so popular you would think he was the real Tony Stark. His latest dazzling promise was to send colonists to Mars by 2024 (for $200K a one-way ticket). No guarantees you will make it alive, and no, Musk won’t be joining you on the trip. Have fun being the first Martians.
The lofty interstellar goal of living on Mars is inspired by Star Wars and Star Trek dreams and comes with an out of this world price tag…about $10 billion. Rockets are expensive and Musk has plans to blow up a few more of them as he pretends to be colonizes the red planet. The last rocket that blew, the Falcon 9, cost several hundred million in lost cargo alone. Musk actually blames that on real Martian sabotage, but that’s another story.
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But, while his grand gestures inspire awe and curiosity, they often fall short in the execution. Since 2011, Tesla has failed to meet Musk’s product-launch, production, and financial-performance promises more than twenty times, according to an analysis by the Wall Street Journal. Even a private showing, in early January, of Tesla’s new Gigafactory, in Storey County, Nevada—which Musk claims is on schedule to mass-produce lithium-ion batteries at rock-bottom costs by 2018—didn’t instill confidence in Musk’s ability to achieve his stated goals. As the Pacific Crest Securities research analyst Brad Erickson said in a note, the tour left “much to the imagination.”
And in September an explosion destroyed an unmanned SpaceX rocket on the launch pad during a fuelling exercise—an incident that called into question the viability of Musk’s radical notion to refuel craft en route, with astronauts on board. A little more than a year earlier, a NASA-funded SpaceX rocket carrying cargo destined for the International Space Station exploded two minutes after lift-off, destroying the payload. A NASA report on that incident raised questions about quality standards at Musk’s company.
Read more "ELON MUSK HAS DELIVERY ISSUES"
For nearly a year, SpaceX has been trying out something new: super-cooling the liquid oxygen (LOX) which is a key ingredient in rocket fuel. It’s called deep-cryo LOX, and the idea has been around since NASA began designing rockets over 60 years ago. But no one has had the guts to actually fly rockets regularly with deep-cryo LOX.
We spoke with associate professor of aerospace engineering at Georgia Tech, Mitchell Walker, to understand why SpaceX chills its LOX cooler than anyone else and whether or not this is a good idea.
Read more "SpaceX is super-cooling its rocket fuel— why that could be a problem"
Over the years, its life cycle cost analysis has become absurdly complex and thus ripe for manipulation. We have seen the use of unjustifiable assumptions to obtain particular results to hide the true consumer costs of the proposed regulation.
Most importantly, the Department of Energy is ignoring the fact that natural gas is the most energy efficient and environmentally sound manner for the vast majority of Americans to heat their homes.
Technological advances are making natural gas residential furnaces more efficient, and the public is snapping them up when they save money. This is proof that the market is working.
Read more "When Energy Efficiency Rules Hurt the Public and the Environment"
One of Musk’s fake companies getting billions in real government money is Tesla Motors. Tesla produces massively-subsidized electric cars which – even with the federal coin – cost way too much and aren’t purchased by anyone outside of uber-wealthy preening elites:
“(Tesla’s) first model, the Roadster, costing over $100,000 per vehicle, sold only 2,400 actual cars in 31 countries from 2006 until production ended in 2012, despite extensive federal subsidies for electric car purchases. Its new model, a full-size luxury sedan named the Model S, is doing better, costing about half as much as the Roadster. Tesla sold about 25,000 of these worldwide in 2013….The products are heavily subsidized, by both federal and state tax credits of up to $20,000+ to consumers, and zero emissions credits totaling tens of millions of dollars to the company.”
So much government coin – for so little in sales. And now the Musk contagion is looking to infest Texas. Musk wants to insert his Tesla Faux-Motors into the Lone Star State’s retail dealership market. And is demanding even more cronyism to do it.
Read more "The Elon Musk Myth Looks To Contaminate Texas"
Tesla said after markets closed Tuesday that it delivered about 22,200 vehicles in the fourth quarter and 76,230 for the year, missing already-trimmed full-year estimates. The automaker delivered 12,700 Model S and 9,500 Model X sedans. It said it also had about 6,450 vehicles in transit to customers at the end of the quarter, which will count as first-quarter 2017 deliveries.
Tesla shares declined nearly 3% to $212.35 in premarket trading Wednesday after rising 1.5% on Tuesday.
“Because of short-term production challenges starting at the end of October and lasting through early December,” production was weighted towards late in the quarter, conceded Tesla. The company said that the delay stemmed from its transition to new Autopilot hardware.
Read more "Tesla Whiffed on Production Goal"