ABC TV Catalyst Peak Oil Report [video]

ABC Catalyst travels from Paris, to London, to the outer space like world that is deep sea drilling, to find out where we stand with our oil supply.

Exxon make $5M/hr profit yet still qualify for US Gov subsidies [video]

Rachel Maddow Wants You To Know Just How Profitable Oil Is

Age of cheap fuel is over: IEA

One major indicator of inflation is the price of petrol and the latest information from the International Energy Agency (IEA) shows it will only get more expensive.

Oil is deeply embedded in the economy, with the cost reflected not only at the petrol bowser but in food and clothing products.

The IEA is an independent, multi-government agency formed out of the wake of the 1973 oil crisis. It forecasts oil production, monitors the international oil market and other energy sectors.

Only five years ago it confidently stated that oil production was set to rise to 120 million barrels a day by 2030.

But IEA chief economist Fatih Birol says the world's crude oil production peaked in 2006.

He says oil prices are likely to rise 30 per cent over the next three years.

"The existing fields are declining so sharply that in order to stay where we are in terms of production levels in the next 25 years, we have to find and develop four new Saudi Arabias," he said.

"It is a huge, huge challenge that we continue to underline."

Dr Birol says although peak crude oil production is already behind us, liquid natural gases may provide a viable alternative.

But he says one of the conclusions the IEA has come to is that the age of cheap oil is over. At the height of the global financial crisis in 2008, oil spiked to $148 a barrel.

Dr Birol says the impact of both a financial crisis in Europe and global instability in oil-rich regions means crude oil will only get more expensive.

"The amount of increase in the oil input bill in Europe is equal to the government budget deficit of Greece plus Portugal put together," he said.

"It is only the increase value of $90. If it increases further ... we believe [it] will increase at least 20, 30 per cent higher in the next few years to come and this would mean additional pressure on the financing of many governments who are the oil importers."

Dr Birol says the oil reserves might be there but the access is not.

He also says it could be in the best interest of producers if crude oil is not always flooding the market.

"The producers, intentionally or unintentionally, may not bring the oil under the reserves to the markets," he said.

"For some producers, it is better that oil doesn't come to market so they would like to see perhaps higher prices as a result of tightness in the markets."

The IEA says governments around the world need to rethink their reliance on oil.

WikiLeaks: Peak Oil is Real, Saudis running out of oil

The latest startling revelation to come via documents leaked to Julian Assange's website and published by The Guardian should give pause to every suburban SUV-driver: U.S. officials think Saudi Arabia is overpromising on its capacity to supply oil to a fuel-thirsty world. That sets up a scenario, the documents show, whereby the Saudis could dramatically underdeliver on output by as soon as next year, sending fuel prices soaring.

The cables detail a meeting between a U.S. diplomat and Sadad al-Husseini, a geologist and former head of exploration for Saudi oil monopoly Aramco, in November 2007. Husseini told the American official that the Saudis are unlikely to keep to their target oil output of 12.5 million barrels per day output in order to keep prices stable. Husseini also indicated that Saudi producers are likely to hit "peak oil" -- the point at which global output hit its high mark -- as early as 2012. That means, in essence, that it will be all downhill from there for the enormous Saudi oil industry.

"According to al-Husseini, the crux of the issue is twofold. First, it is possible that Saudi reserves are not as bountiful as sometimes described, and the timeline for their production not as unrestrained as Aramco and energy optimists would like to portray," one of the cables reads. "While al-Husseini fundamentally contradicts the Aramco company line, he is no doomsday theorist. His pedigree, experience and outlook demand that his predictions be thoughtfully considered."

OPEC leaves oil quotas unchanged seeking $100 a barrel

OPEC decided to leave production quotas unchanged in a meeting in Ecuador's capital Quito Saturday, stressing looming "risks to the fragile global economic recovery."

The 12-nation Organization of the Petroleum Exporting Countries said in a statement that the economic growth that had pushed oil to above 90 dollars a barrel this week was likely to slow next year.

That, and the challenges to the world's recovery from the 2008 financial crisis, "would negatively impact on oil demand," it said.

OPEC highlighted "the adverse risks of possible currency conflicts and fears of a second banking crisis in Europe" along with low industrial output in developed countries, high unemployment and "ample spare capacity throughout the oil supply chain."

The cartel at the same time said it was "comfortable" with current prices.

Oil futures trading Friday finished at 90.48 dollars in London trade for delivery in January. New York's main contract, light sweet crude for January, finished at 87.79 dollars a barrel.

"There is a general feeling in the market that the current prices are comfortable for producers and for consumers," said OPEC's current president, Ecuadorian Oil Minister Wilson Pastor-Morris.

He noted that, for all the "cautious optimism," though, "nothing can be taken for granted."

Stronger-than-expected demand attributed to a harsh winter hitting Europe and parts of North America was pushing oil prices higher this year, as was growth in China and other developing nations.

But OPEC said speculation was also fueling the rise.

And observers said economic uncertainties suggested the rally might not last, with fears rising that China's economy was at threat by soaring inflation.

The International Energy Agency said Friday that "global demand growth should ease in 2011, from 2.5 million barrels per day to 1.3 mbd, amid renewed structural OECD decline, and as post-recession froth in markets like China subsides," the IEA said.

OPEC's decision meant it would maintain production at 24.8 million barrels per day, the level set after a hefty quota cut in January 2009 to cope with a collapse in oil prices caused by the financial crisis.

The organization accounts for nearly 40 percent of the world's oil output.

Some OPEC members -- Iran, Venezuela and Libya -- were urging higher prices, to above 100 dollars a barrel to offset what they said were rising production costs.

But OPEC heavyweight Saudi Arabia differed, with its oil minister, Ali al-Nuaimi, telling reporters he thought "70 to 80 (dollars per barrel) is a fair price."

OPEC Secretary General Abdalla Salem El-Badri told a news conference that it was up to the markets to set the price according to supply, but noted that the dollar has been steadily losing value.

"This price we see at this time has not damaged world growth," he said.

"Yes, in Europe, it is 90 dollars. But they (the Europeans) like it because the price is very low. Who is hurting is our producer countries, because we sell our crude in dollars and buy in euros. So you see how much we are losing," he said.

He added: "The dollar is coming down almost every day."

OPEC set its next meeting for June next year in Vienna.

Iran was taking over the cartel's rotating presidency next year, the first time in 36 years it will have held the leadership.

Branson Says Oil Might Hit $200 Without New Policies

Oil prices may soar to $200 a barrel if the world doesn’t move more rapidly to a clean-energy economy, Richard Branson, founder of Virgin Atlantic Airways Ltd., said in an interview.

“It’s certainly conceivable unless we can start to conserve energy quickly and come up with alternative fuels,” Branson said yesterday in Cancun, Mexico, where countries are meeting to negotiate a new accord to combat climate change.

Branson predicts an “unbelievably painful” economic slump if governments don’t do more to encourage renewable energy as an alternative to fossil fuels such as oil. In the U.S., where efforts to cap carbon-dioxide emissions failed in the Senate earlier this year, unemployment could reach record highs, the British billionaire said.

“We are going to have the mother of all recessions if we don’t sort out our energy policy fast,” Branson said earlier yesterday at the World Climate Summit in Cancun. “We think we’ve got it bad today. In five years time unemployment could go to 15 percent without any difficulty at all in America.”

Branson, 60, spoke alongside U.S. billionaire Ted Turner, founder of Cable News Network. Branson and Turner, 72, also will speak tomorrow at the two-day conference focused on how businesses can help combat climate change.

Balking on Kyoto

Meanwhile, negotiators from about 190 countries are grappling with how to proceed in United Nations-led treaty talks to cut greenhouse-gas emissions. Industrialized and developing nations are divided over the 1997 Kyoto Protocol.

Japan, Russia and Canada have refused to sign up for a second round of emissions reductions once the current ones written into Kyoto expire in 2012.

Emerging economies such as China, India and Brazil are “completely unanimous” in their position that developed countries must agree on a new commitment period, UN climate chief Christiana Figueres said yesterday. Discord over Kyoto threatens to take attention away from talks for a new global climate agreement that includes the U.S., she said. The U.S. is the only developed nation not part of Kyoto.

Turner urged countries to reach agreement.

“Let’s do it,” he said. “Let’s do it now before it’s too late.”

Oil Will Run Dry 90 Years Before Substitutes Roll Out, Study Predicts

At the current pace of research and development, global oil will run out 90 years before replacement technologies are ready, says a new University of California, Davis, study based on stock market expectations.

The forecast was published online on Nov. 8 in the journal Environmental Science & Technology. It is based on the theory that long-term investors are good predictors of whether and when new energy technologies will become commonplace.

"Our results suggest it will take a long time before renewable replacement fuels can be self-sustaining, at least from a market perspective," said study author Debbie Niemeier, a UC Davis professor of civil and environmental engineering.

Niemeier and co-author Nataliya Malyshkina, a UC Davis postdoctoral researcher, set out to create a new tool that would help policymakers set realistic targets for environmental sustainability and evaluate the progress made toward those goals.

Two key elements of the new theory are market capitalizations (based on stock share prices) and dividends of publicly owned oil companies and alternative-energy companies. Other analysts have previously used similar equations to predict events in finance, politics and sports.

"Sophisticated investors tend to put considerable effort into collecting, processing and understanding information relevant to the future cash flows paid by securities," said Malyshkina. "As a result, market forecasts of future events, representing consensus predictions of a large number of investors, tend to be relatively accurate."

Niemeier said the new study's findings are a warning that current renewable-fuel targets are not ambitious enough to prevent harm to society, economic development and natural ecosystems.

"We need stronger policy impetus to push the development of these alternative replacement technologies along," she said.

Some OPEC Members Push for $100 a Barrel Oil

Some OPEC members want oil prices to rise to $100 a barrel to offset the decline in the dollar.

The value of the dollar, which has slipped 13% since June against major world currencies, means that the "real price" of oil is about $20 less than current levels, Venezuela's Energy and Oil Minister Rafael Ramirez said after Thursday's OPEC meeting in Vienna

OPEC, which accounts for 40% of global crude output, left targets unchanged and called for stronger adherence to production quotas, Bloomberg News said.

"They're concerned about the dollar because as the dollar weakens, prices go up," Nordine Ait-Laoussine, former oil minister for Algeria, told Bloomberg News.

OPEC countries are exceeding their quotas as prices creep above the $70-$80 a barrel band that Saudi Oil Minister Ali al-Naimi called "ideal."

"We would love to see $100 a barrel," Shokri Ghanem, chairman of Libya's National Oil Corp. said. "We're losing real income. Libya in particular would like to see a higher oil price."

Other countries are less certain: Kuwait's oil minister said he'd prefer a price no greater than $85 a barrel; while the Algerian minister said a price between $90 and $100 a barrel was "reasonable."


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A link between air travel and deaths on the ground

Study suggests pollution from airplanes flying at ‘cruise’ altitudes contributes to 8,000 deaths per year globally.

In 2004, the World Health Organization estimated that about one million deaths per year are caused by air pollution, and several epidemiological studies have linked air pollution to the development of cardiovascular and respiratory illnesses, including lung cancer. Those studies tracked thousands of adults over many years to measure their exposure to air pollution while monitoring their health. Once the data were statistically analyzed to correct for other risk factors like smoking, the results indicated that increased exposure to fine particulate matter caused by air pollution is linked to health problems like chronic bronchitis and decreased lung function, as well as premature death.

The atmosphere is full of natural and man-made chemicals, including emissions from fuel combustion and byproducts of living organisms. Many of these chemicals combine in the atmosphere to form tiny solid and liquid particles known as “fine particulate matter” that are 2.5 micrometers or smaller (the average human hair is about 70 micrometers in diameter, by comparison). While it’s not clear whether all of these particles may be harmful, some are; the danger to humans comes when they are inhaled and trapped in the lungs, where they can then enter the bloodstream.

Aviation emissions contribute to this health problem, according to a new study that suggests that airplanes flying at a cruise altitude of around 35,000 feet emit pollutants that contribute to about 8,000 deaths per year globally. The research, reported online this month in the journal Environmental Science and Technology, provides the first estimate of premature deaths attributable to aircraft emissions at cruise altitudes. Aircraft emit nitrogen oxides (NOx) and sulfur oxides (SOx), which react with gases already existing in the atmosphere to form harmful fine particulate matter.

Tracking emissions

Current worldwide regulations target aircraft emissions only up to 3,000 feet. That’s because regulators have assumed that anything emitted above 3,000 feet would be deposited into a part of the atmosphere that has significantly smoother air, meaning pollutants wouldn’t be affected by turbulent air that could mix them toward the ground. Thus, even though 90 percent of aircraft fuel is burned at cruise altitudes, only those pollutants that are emitted during takeoff and landing are regulated by measuring emissions during tests of newly manufactured engines in simulated takeoff and landing conditions.

“Anything above that [altitude] really hasn’t been regulated, and the goal of this research was to determine whether that was really justified,” says lead author Steven Barrett, the Charles Stark Draper Assistant Professor of Aeronautics and Astronautics in MIT’s Department of Aeronautics and Astronautics.

To study the effects of cruise emissions, Barrett used a computer model that combined data about plane trajectories, the amount of fuel burned during flights and the estimated emissions from those flights. He combined that with a global atmospheric model that accounts for air-circulation patterns in different parts of the globe and the effect of emissions to determine where aviation emissions might cause an increase in fine particulate matter. He then used data related to population density and risk of disease in different parts of the world to determine how the change in particulate matter over certain regions might affect people on the ground — specifically, whether the air pollutants would lead to an increased risk of death.

Analysis of these data revealed that aircraft pollution above North America and Europe — where air travel is heaviest — adversely impacts air quality in India and China. That is, even though the amount of fuel burned by aircraft over India and China accounts for only 10 percent of the estimated total amount of fuel burned by aircraft across the globe, the two countries incur nearly half — about 3,500 — of the annual deaths related to aircraft cruise emissions. The analysis also revealed that although every country in the Northern Hemisphere experienced some number of fatalities related to these emissions, almost none of the countries in the Southern Hemisphere had fatalities.

That’s because the majority of air traffic occurs in the Northern Hemisphere, where planes emit pollutants at altitudes where high-speed winds flowing eastward, such as the jet stream, spread emissions to other continents, according to the study. Part of the reason for the high percentage of premature deaths in India and China is that these regions are densely populated and also have high concentrations of ammonia in their atmosphere as a result of farming. This ammonia reacts with oxidized NOx and SOx to create fine particulate matter that people inhale on the ground. Although agriculture is abundant in Europe and North America, the ammonia levels aren’t as elevated above those regions.

Industry reaction

Funded by the UK Research Councils with help from the U.S. Department of Transportation, the study recommends that cruise emissions be “explicitly considered” by international policymakers who regulate aviation engines and fuels. Steve Lott, a spokesman for the International Air Transport Association, a trade group that represents 230 airlines, says that aviation is “a small part of a big problem,” particularly when compared to other transportation sources of emissions, such as those caused by shipping, which a 2007 study linked to 60,000 premature deaths per year.

Lourdes Maurice, the chief scientific and technical adviser for environment at the Federal Aviation Administration, says that if the agency can confirm Barrett’s findings through additional research, then it will work with the Environmental Protection Agency and the International Civil Aviation Organization to consider appropriate regulatory action. The FAA will continue to fund research to address uncertainties highlighted by Barrett’s work, she adds.

Barrett concedes that there are many uncertainties, including how accurately the model reflects how air travels vertically from high altitudes to low altitudes. To address this, he is collaborating with researchers at Harvard to study an isotope of the element beryllium that is produced naturally at high altitudes and attaches to atmospheric particles that eventually reach the ground through air or rain. Researchers have a general idea of how much beryllium is concentrated in the atmosphere, and Barrett and his colleagues are currently analyzing ground measurements of the element to quantify the extent to which his model “gets vertical transport right.”

Barrett is a member of the Partnership for AiR Transportation Noise and Emissions Reduction (PARTNER), a cooperative research organization that completed the study. Sponsored by the FAA, NASA and Transport Canada, PARTNER has its operational headquarters at MIT.


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UK's shipping emissions six times higher than expected says new report

Carbon dioxide emissions produced by UK shipping could be up to six times higher than currently calculated, according to new research from The University of Manchester.

As the shipping industry's emissions are predicted to continue to grow in the future, the UK will fail to meet its commitment to avoid dangerous climate change if additional cuts are not made to other sectors.

According to a University of Manchester study, the global shipping industry, despite being traditionally viewed as one of the most energy efficient means of transport, releases increasing amounts of harmful emissions into the atmosphere every year.

Indeed, as the rest of the world strives to avoid dangerous climate change, the global shipping industry's carbon emissions could account for almost all of the world's emissions by 2050 if current rates of growth "fuelled by globalisation" continue.

This new report refocuses attention from the global efforts to reduce shipping emissions down to a national scale, and questions if the UK has a role in influencing its share of the CO2 emissions produced.

The dramatic change in the estimate of CO2 from UK shipping is based on the fact that, up until now, the UK's emissions are calculated using international bunker fuel sales - that is fuel purchased at UK ports.

But, according to the report, this is a misleading statistic as the majority of vessels refuel at nearby ports, such as Rotterdam in Holland, where prices are more competitive.

Scientists at The University of Manchester show that the level of CO2 emissions released by commercial ships involved with UK trade provides a fairer representation of UK shipping emissions than fuel sold.

If this representation were to be adopted, the UK's CO2 emissions allocated to shipping would increase significantly - and possibly to a higher level than the amount of CO2 released by UK aviation.

Greenhouse gas emissions from international shipping activity currently account for around 3% of total global emissions.

On the basis of its international bunker fuel sales, UK international shipping emissions for 2006 were around seven megatonnes of carbon dioxide (7 MtCO2).

However the report, prepared by researchers at the Tyndall Centre for Climate Change Research and the Sustainable Consumption Institute, claims it is fairer to calculate UK emissions on the basis of shipped goods exported from or imported into the UK.

On this basis, UK emissions rise considerably to 31 or 42 MtCO2 respectively.

Dr Paul Gilbert, Lecturer in Climate Change at the Tyndall Centre for Climate Change Research, said: Tackling climate change requires urgent emission reductions across all sectors.

Unfortunately up until now, global efforts to reduce shipping emissions have been slow, and are not keeping up with the pace of growth of the sector.

This report explores the potential for the UK to take national measures to reduce its share of shipping emissions to complement any future global or EU action.

The report also examines the role the shipping sector should play in overall emissions reduction. Dangerous climate change is generally accepted to be an increase in global average temperature of greater than 2ºC above pre-industrial levels.

To have a reasonable chance of avoiding dangerous climate change, global emissions must fall steeply out to 2050. Indeed, the report suggests that the UK should, in advance of EU or global action, consider a unilateral adjustment to its carbon budgets to reflect its share of international shipping emissions.

It concludes that action is required in both the short and medium-term to significantly reduce shipping emissions below projected levels.

An international deal to control shipping emissions is currently under discussion at the International Maritime Organisation (IMO). However, progress on this issue has been slow and the European Union has announced that it will take action at an EU level to limit international shipping emissions if the IMO has not agreed a deal by the end of 2011.

John Aitken, Secretary General of Shipping Emissions Abatement and Trading, said: This timely and thought-provoking report highlights many of the difficulties faced by those interested in reducing GHG emissions from shipping.

It is clear a global approach is most preferable. If the further research mentioned in the report identifies an apportionment methodology for "countries" which can be agreed upon by many nation states, it would greatly assist the development of a global strategy."

The Guardian



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BP oil spill will boost electric car sales

The Gulf of Mexico oil spill disaster will hasten the adoption of electric vehicles, a leading car executive says.

Nissan’s senior vice-president of product planning, Andy Palmer, says the spill highlights the potential pitfalls of oil dependency.

“Any kind of crisis can move the needle, whether it’s price hikes or regrettably, terrorism,” he says.

“Every time you see a degree of instability it tends to help us on EV, no doubt,” he says.

“I think no one thing is going to change consumer behaviour overnight but it draws attention to the difficulties of carbon-based fuel,” he says.

He says the interest in Nissan’s upcoming Leaf electric car has been “astonishing”, with the vehicle essentially sold out until well into the second half of next year.

“We have 23,500 orders in the bank and we haven’t announced the pricing in Europe, so that’s just the US, Japan and some blind orders from Europe,” he says.

And he says that the Australian government, which has shown little interest in EVs to date, is beginning to come around.

Mr Palmer visited Australia earlier this year to speak with the federal and state governments and was encouraged by the reception he received. “We are getting a response from the federal government… we do have a level of interest and I do see some signs that Australia will be one of the next serious countries that we are looking at,” he says.

“From a demographic point of view, Australia’s perfect [for EVs]. Most of the houses have got garages, most of you have got two cars and most of the second car’s range is relatively low mileage – you’ve just written the spec for an EV, frankly,” he says.

He says that while the main advantage to Australia from EVs would be CO2 reduction, they would also play a major role in improving air quality in big cities such as Sydney and Melbourne.

“The car doesn’t emit CO2, which means you’re not emitting CO2 in a city, where most people live; moreover you’re not emitting any other noxious gases either. You’re cleaning up the environments where people live,” he says.

Your Oil Dollars at Work

In April the Qatari royal family spent $2.3 Billion to buy Harrods, the high end UK department store. Now they'll have to fork over $800 in fines to remove wheel clamps from supercars worth $2.3 Million that two family members parked illegally out front of the store.

The story about these two cars alerted us to the fact that central London has become a weekly supercar show during the summer months with literally hundreds of exotics ranging from the pictured Koenigsegg CCXR “Special One” to a half dozen Bugatti Veyron, including the ultra exclusive '15-of' Sang Noir through to a dozen or so garden variety Lamborghini Murcielago LP 670-4 SuperVeloce, all wearing Qatar number plates.

Not bad for a country that was a former pearl-fishing center, was one of the poorest Gulf states and has less than half the population of New Zealand. They are now one of the richest Gulf countries, in a region full of rich countries, thanks to the exportation of oil.

The London supercar parade is a graphic illustration of what the Washington Post calls “The biggest transfer of wealth in history”.

Because we are all limited to using an Internal Combustion Engine (ICE) for propulsion, we are forced to consume 6x more energy than is needed to move a car down the road. Good if you're in the business of selling oil, not so good if you just want to drive to work.

Each time you fill your car's fuel tank remind yourself that every ICE powered car consuming all this Arab oil is only 15% energy efficient. The direct result is that $0.85 cents out of every dollar you spend at the fuel bowser gets converted into waste heat as an unavoidable side effect of the extremely inefficient internal combustion process.

On first appearances it 'looks' like Volkswagen (owners of Bentley, Bugatti, Lamborghini, Audi etc) are doing fairly well out of this transfer of wealth too, until you learn that Qatar Holdings, the same company that bought Harrods, also own 12.3% of the VW group.

The Qatari royal family members seem to be keeping it in-house, mostly buying and promoting their family owned brands. We can be fairly certain none of them would be caught dead parading around London in something like a Tesla Roadster, especially one with 'LOL OIL' number plates.

Half of U.S. vehicles would be electrified by 2030 under proposed House bill

Millions of electric-powered vehicles that would slash America's dependence on foreign oil and cut carbon emissions would be put on the road under legislation approved by a Senate committee on Wednesday.

The legislation, passed 19-4 in favor, was one of several bills cleared by the Senate Energy and Natural Resources Committee that might be folded into a broader energy and climate bill Democrats are struggling to bring to the Senate floor.

The bill approved by the committee would pour nearly $3.9 billion over 10 years into selected communities to build infrastructure to charge electric cars, conduct research and provide incentives for consumers to buy plug-in vehicles.

The goal is to put the United States on a path to electrify half the country's cars and trucks by 2030, which would cut U.S. demand for oil by about one-third.

"Passing this legislation will strengthen our national security and improve the air we breathe, while relying on our abundant and diverse electricity supply to fuel our cars," said Senator Byron Dorgan, the bill's chief sponsor.

A new bill that addresses climate change and renewable energy is a key priority for the Obama administration but time is running short on the congressional calendar with a scheduled August recess and congressional elections looming in November.

Senator Jeff Bingaman, who chairs the energy panel, said he was not sure if Senate Majority Leader Harry Reid would unveil his encompassing energy and climate legislation next week. The bill would be in trouble if the Senate does not pass it before the August break, according to Bingaman.

"It will be difficult to get a final bill to the president for signature," Bingaman told reporters. "The earlier that the full Senate would act the better position we'll be to actually get a bill to the president."

Congress is scheduled to work through the first or second of week of August, and then recess until after Labor Day in early September.

Reid said on Tuesday he was still grappling for consensus among Democrats to forge a new climate and energy bill.

Sign of the Times, "LOL OIL" license plated Tesla

(click to enlarge image)

What costs just $0.02 per mile to drive, never needs an engine oil change, is faster 0-60 than a Porsche 911 GT3 yet is cheaper to buy and can be powered 100% with renewable energy?

The as yet unmatched - Tesla Roadster, of course. Can hardly wait to see how a Toyota RAV4 or Corolla with a Tesla electric powertrain performs.

(reddit)