Petrol cars will vanish in 8 years, says US report from Stanford economist.

Petrol cars will vanish in 8 years, says US report from Stanford economist.

” A Tesla Model S, which has 18 moving parts, one hundred times fewer than a combustion engine car. “Maintenance is essentially zero,” says Stanford University economist Tony Seba. “That is why Tesla is offering infinite-mile warranties. You can drive it to the moon and back and they will still warranty it.”

No more petrol or diesel cars, buses, or trucks will be sold anywhere in the world within eight years. The entire market for land transport will switch to electrification, leading to a collapse of oil prices and the demise of the petroleum industry as we have known it for a century.

This is the futuristic forecast by Stanford University economist Tony Seba. The professor’s report, with the deceptively bland title Rethinking Transportation 2020-2030, has gone viral in green circles and is causing spasms of anxiety in the established industries.

Mr Seba’s premise is that people will stop driving altogether. They will switch en masse to self-drive electric vehicles (EVs) that are 10 times cheaper to run than fossil-based cars, with a near-zero marginal cost of fuel and an expected lifespan of 1 million miles (1.6 million kilometres).

Only nostalgics will cling to the old habit of car ownership. The rest will adapt to vehicles on demand. It will become harder to find a petrol station, spares, or anybody to fix the 2000 moving parts that bedevil the internal combustion engine. Dealers will disappear by 2024.

Cities will ban human drivers once the data confirms how dangerous they can be behind a wheel. This will spread to suburbs, and then beyond. There will be a “mass stranding of existing vehicles”. The value of second-hard cars will plunge. You will have to pay to dispose of your old vehicle.

It is a twin “death spiral” for big oil and big autos, with ugly implications for some big companies on the London Stock Exchange unless they adapt in time.

The long-term price of crude will fall to $US25 a barrel. Most forms of shale and deep-water drilling will no longer be viable. Assets will be stranded. Scotland will forfeit any North Sea bonanza. Russia, Saudi Arabia, Nigeria, and Venezuela will be in trouble.

It is an existential threat to Ford, General Motors, and the German car industry. They will face a choice between manufacturing EVs in a brutal low-profit market, or reinventing themselves a self-drive service companies, variants of Uber and Lyft.

They are in the wrong business. The next generation of cars will be “computers on wheels”. Google, Apple, and Foxconn have the disruptive edge, and are going in for the kill. Silicon Valley is where the auto action is, not Detroit, Wolfsburg, or Toyota City.

The shift, according to Mr Seba, is driven by technology, not climate policies. Market forces are bringing it about with a speed and ferocity that governments could never hope to achieve.

“We are on the cusp of one of the fastest, deepest, most consequential disruptions of transportation in history,” Mr Seba said. “Internal combustion engine vehicles will enter a vicious cycle of increasing costs.”

The “tipping point” will arrive over the next two to three years as EV battery ranges surpass 200 miles and electric car prices in the US drop to $US30,000 ($40,600). By 2022, the low-end models will be down to $US20,000. After that, the avalanche will sweep all before it.

“What the cost curve says is that by 2025 all new vehicles will be electric, all new buses, all new cars, all new tractors, all new vans, anything that moves on wheels will be electric, globally,” Mr Seba said.

“Global oil demand will peak at 100 million barrels per day by 2020, dropping to 70 million by 2030.” There will be oil demand for use in the chemical industries, and for aviation, though Nasa and Boeing are working on hybrid-electric aircraft for short-haul passenger flights.

Mr Seba said the residual stock of fossil-based vehicles will take time to clear, but 95 per cent of the miles driven by 2030 in the US will be in autonomous EVs for reasons of costs, convenience, and efficiency. Oil use for road transport will crash from 8 million barrels a day to 1 million.

Insurance costs to fall by 90 per cent

The cost per mile for EVs will be 6.8 cents, rendering petrol cars obsolete. Insurance costs will fall by 90 per cent. The average American household will save $US5600 per year by making the switch. The US government will lose $50 billion a year in fuel taxes. Britain’s exchequer will be hit at the same rate.

“Our research and modelling indicate that the $10 trillion annual revenues in the existing vehicle and oil supply chains will shrink dramatically,” Mr Seba said.

“Certain high-cost countries, companies, and fields will see their oil production entirely wiped out. Exxon-Mobil, Shell and BP could see 40 per cent to 50 per cent of their assets become stranded,” the report said.

These are all large claims, though familiar those on the cutting edge of energy technology. While the professor’s timing may be off by a few years, there is little doubt about the general direction.

India is drawing up plans to phase out all petrol and diesel cars by 2032, leap-frogging China in an electrification race across Asia. The brains trust of Prime Minister Narendra Modi has called for a mix of subsidies, car-pooling, and caps on fossil-based cars. The goal is to cut pollution and break reliance on imported oil, but markets will pick up the baton quickly once the process starts.

China is moving in parallel, pushing for 7 million electric vehicles by 2025, enforced by a minimum quota for “new energy” vehicles that shifts the burden for the switch onto manufacturers. “The trend is irreversible,” said Wang Chuanfu, head of the Chinese electric car producer BYD, backed by Warren Buffett’s Berkshire Hathaway.

At the same time, global shipping rules are clamping down on dirty high-sulphur oil used in the cargo trade, a move that may lead to widespread use of liquefied natural gas for ship fuel.

This is all happening much faster than Saudi Arabia and Opec had assumed. The cartel’s World Oil Outlook last year dismissed electric vehicles as a fringe curiosity that would make little difference to ever-rising global demand for oil.

It predicted a jump in crude consumption by a further 16.4 million barrels a day to 109 million by 2040, with India increasingly taking over from China as growing market. The cartel said fossils will still make up 77 per cent of global energy use, much like today. It implicitly treated the Paris agreement on climate targets as empty rhetoric.

Whether Opec believes its own claims is doubtful. Saudi Arabia’s actions suggest otherwise. The kingdom is hedging its bets by selling off chunks of the state oil giant Saudi Aramco to fund diversification away from oil.

Opec, Russia, and the oil-exporting states are now caught in a squeeze and will probably be forced to extend output caps into 2018 to stop prices falling. Shale fracking in the US is now so efficient, and rebounding so fast, that it may cap oil prices in a range of $US45 to $US55 until the end of the decade. By then the historic window will be closing.

Experts will argue over Mr Seba’s claims. His broad point is that multiple technological trends are combining in a perfect storm. The simplicity of the EV model is breath-taking. The Tesla S has 18 moving parts, one hundred times fewer than a combustion engine car. “Maintenance is essentially zero. That is why Tesla is offering infinite-mile warranties. You can drive it to the moon and back and they will still warranty it,” Mr Seba said.

Self-drive “vehicles on demand” will be running at much higher levels of daily use than today’s cars and will last for 500,000 to 1 million miles each.

It has long been known that EVs are four times more efficient than petrol or diesel cars, which lose 80 per cent of their power in heat. What changes the equation is the advent of EV models with the acceleration and performance of a Lamborghini costing five or 10 times less to buy, and at least 10 times less to run.

“The electric drive-train is so much more powerful. The gasoline and diesel cars cannot possibly compete,” Mr Seba said. The parallel is what happened to film cameras – and to Kodak – once digital rivals hit the market. It was swift and brutal. “You can’t compete with zero marginal costs,” he said.

The effect is not confined to cars. Trucks will switch in tandem. Over 70 per cent of US haulage routes are already within battery range, and batteries are getting better each year.

EVs will increase US electricity demand by 18 per cent, but that does not imply the need for more capacity. They will draw power at times of peak supply and release it during peak demand. They are themselves a storage reservoir, helping to smooth the effects of intermittent solar and wind, and to absorb excess base-load from power plants.

Mark Carney, the Governor of the Bank England and chairman of Basel’s Financial Stability Board, has repeatedly warned that fossil energy companies are booking assets that can never be burnt under the Paris agreement.

He pointed out last year that it took only a small shift in global demand for coal to bankrupt three of the four largest coal-mining companies in short order. Other seemingly entrenched sectors could be just as vulnerable. He warned of a “Minsky moment”, if we do not prepare in time, where the energy revolution moves so fast that it precipitates a global financial crisis.

The crunch may be coming even sooner than he thought. The Basel Board may have to add the car industry to the mix. There will be losers. Whole countries will spin into crisis. The world’s geopolitical order will be reshaped almost overnight. But humanity as a whole should enjoy an enormous welfare gain.

Here are the 5 Dimensions for uncommon success. Read, think and act.

Good morning

Here are the 5 Dimensions for uncommon success. Read, think and act.

1. The Law of Difference – Your Difference Decides Your Importance.  Something within you cannot be found in another. Your similarity creates your comfort. Your difference creates your rewards.  If you do not know your distinctive Difference, you will never discern what others need from you.

2. The Law of the Mind– Every Life Battle is a Mind Battle.  If you win in your Mind, you will win in life.  If you lose in your Mind, you will lose in life.  Focus, because it has two parts, memory and imagination.  Your memory replays the past; your imagination preplays your future.

3. The Law of Recognition – Anything you Fail to Recognize Will Exit Your Life.  Something you are not seeing is costing you.  Anything you fail to recognize will exit your life.

4. The Law of Two– One cannot multiply.  Adam could not multiply until Eve entered his life.

5. The Law of Place- Everything you want is… somewhere.  Go wherej you are celebrated instead of where you are tolerated.

NEW PASSPORT RULES YOU NEED TO KNOW

NEW PASSPORT RULES YOU NEED TO KNOW

Recently, the *Ministry of External Affairs declared new rules for applying for a passport.* And here we have rounded up some of the major changes that these new rules have bought in.

*DOCUMENTATION FOR PROOF OF BIRTH*

As per old rules, submission of a birth certificate was compulsory for all applicants born on or after 26th January 1989. But the new rules have bought in some relaxation in this regards. Now, any of the following documents containing the Date of Birth (DOB) of the applicant will suffice:

💥Birth Certificate (BC) issued by the Registrar of births and deaths or the Municipal Corporation or any other approved authority to register the birth of a child born in India
Transfer/school leaving/matriculation certificate issued by the school last attended/recognized educational board
💥PAN card
💥Aadhar card/E-aadhar
💥The copy of the service record of the applicant’s (of govt. servants) or the pay pension order (of retired govt. employees), duly attested/in-charge of the administration of the concerned ministry/certified by the officer/ department of the applicant
💥Driving license
💥Election Photo Identity Card (EPIC) issued by the Election Commission of India
💥A copy of policy bond issued by the public life insurance companies

*DETAILS OF PARENT/LEGAL GUARDIAN:*

In a welcome move, the new passport rules has done away with the mandate requiring names of both parents at the time of application. An applicant now only needs to provide the name of either one of the parents or the legal guardian. This makes it easier for children with single parents or orphans to apply for a passport. For spiritually oriented people like Sadhus/Sanyasis, there have provisions made for them to mention the name of their spiritual leader in place of their biological parents.

*ANNEXES*

The total number of annexes has been reduced from 15 to 9. Annexes A, C, D, E, J, and K have been eliminated and some of them have also been merged. Lesser annexes means less worry for people to collate documentation.

*ATTESTATION*

While all annexes needed attestation from a Notary/Executive Magistrate/First Class Judicial Magistrate previously, henceforth all these annexes can now be in the form of a self-declaration from the applicant on plain paper. This means no running around for attestation that one had to do previously.

*MARRIED/DIVORCED PERSONS:*

The need for a marriage certificate has been discontinued (along with annexure K). Also, in case of a divorce the applicant will not be required to provide the name of their spouse. This is another interesting change that has been made taking into consideration changing societal norms.

*WORK RELATED URGENT PASSPORTS:*

In case of urgent passports, if a government employee is not able to procure the NOC (no objection certificate) or identity certificate from their employer’s side, they can submit a self-declaration stating that they have given a prior intimation letter to their employer informing that they are applying for an ordinary passport to a passport issuing authority.
To view the press release from the Ministry of External Affairs with regards to the new passport rules, you can visit their website to gain detailed information.

Overall, this move is set to make the application process easier and hassle-free for everyone. A welcome move, we say!

So don’t use your lack of passport as an excuse not to travel anymore. Apply for one now, and get going. Don’t forget to visit our website to get insured before you leave on your next adventure!

India becomes first South Asian country to get access to America’s cutting-edge technology

India becomes first South Asian country to get access to America’s cutting-edge technology

Source :- Business Today – July 31, 2018

The United States on Monday designated India as a Strategic Trade Authorization-1 (STA-1) country – a status that will allow the country to buy highly advanced and sensitive technologies from America. With such coveted designation, India will now be at par with the United States’ closest allies and partners such as NATO.

In a statement, US Commerce Secretary Wilbur Ross said that this new designation reflects India’s membership in three of the four multilateral export control regimes, as well the development of its national export control system.

“US companies will be able to more efficiently export a much wider range of products to Indian high technology and military customers. India’s new status will benefit US manufacturers while continuing to protect its national security,” he added.

STA Tier 1 treatment will expand the scope of exports subject to the Export Administration Regulations (EAR) that can be made to India without individual licenses. This regulatory change will enhance the bilateral defence trade relationship and result in a greater volume of US exports to India.

Currently there are 36 countries on STA-1 list. India is the only South Asian country to be on the list. Other Asian countries designated as STA-1 are Japan and South Korea.

According to Ross, STA-1 provides India greater supply chain efficiency, both for defence and for other high-tech products, that will increase activity with US systems, the interoperability of the systems, and will reduce time and resources needed to get licensing approved.

“We calculate that it will be a competitive advantage for the US, in terms of supplying those kinds of products to India. It looks as though over the last seven years, some USD 9.7 billion of products would have been affected, so it’s a meaningful-sized number. And probably, it’ll be much more than that because a lot of things they knew wouldn’t be exportable, they didn’t order from us,” the US Commerce Secretary said.

In 2016, the US had recognised India as a major defence partner – a move which paved the way for India’s STA-1 status. Both the countries had issued a joint statement saying, “Noting that the US-India defence relationship can be an anchor of stability and given the increasingly strengthened cooperation in defence, the US hereby recognises India as a Major Defence Partner.”

Both the countries had reached an understanding under which India would receive license-free access to a wide range of dual-use technologies in conjunction with steps that India has committed to take to advance its export control objectives.

STA-1 designation authorises the export, re-export and transfer (in-country) of specified items on the Commerce Control List to destinations posing a low risk of unauthorised or impermissible uses.

Reacting to US’ move, Indian Ambassador to the US Navtej Singh Sarna said: “It is a sign of trust not only in the relationship but also on India’s capabilities an economy and as security partner, because it also presupposes that India has the multilateral export control regime in place, which would allow the transfer of more sensitive defence technologies and dual use technologies to India and without the risk of any proliferation.”

US Commerce Secretary Ross yesterday said that India has partnered with the United States to improve its own export control regimes and has met most of the export control rules which the US thinks is useful.

 

Be Absolutely Honest with Yourself and Others

Let’s make happy,healthy and positive world.
Wow wonderful morning.
Be Absolutely Honest with Yourself and Others

Remember, *thought* is the original source of _all wealth, all success, all material gain, all great discoveries and inventions, and all achievements._

Perhaps the most valued and respected quality you can develop is a *reputation for absolute integrity.* _Be perfectly honest in everything you do and in every transaction and activity._

*Never compromise* your integrity. Remember that _your word is your bond and your honor is everything when it comes to business._
✓ All successful businesses are based on *trust.*

✓ Your success in becoming a *self-made millionaire* will be determined solely by the number of people who trust you and who are willing to work for you, give you credit, lend you money, buy your products and services, and help you during difficult times.
Your *character* is the _most important asset_ that you develop in your entire life, and your character is based on the amount of *integrity* that you practice.

✓ *The first key* to integrity is to be true to yourself in all things. Be true to the very best that is in you.

Being true to yourself means *doing what you do in an excellent fashion.*

Integrity is demonstrated internally by *personal honesty* and externally by *quality work.*

✓ *The second key* to integrity is to be *true to other people* in your life. Live in truth with everyone. Never *do* or *say* anything that you don’t believe to be right and good and honest.

Refuse to compromise your integrity for anything. Always live up to the very highest standard that you know.

Here’s a question for you to ask and answer on a regular basis:

*What kind of world would _my world be_ if everyone in it was just like me?*

This question forces you to *set high standards* for yourself and keep raising the bar. Act as though your _every word and action were to become a universal law._

Carry yourself _as though everyone were watching you and patterning their behavior after yours._ And when in doubt, *always do the right things,* whatever it is and whatever it costs.

*Action Exercise:* Almost every problem in your life can be resolved by *a return to your values.* What are they? What do you believe in and stand for?

Whenever you experience stress of any kind, it usually means that you are compromising one of your values. Whatever it is, resolve this very minute *to be true to what you really believe to be important in your life.*

It’s never too late to start.
Credit goes to
Govind Valmikki Shandilya
Thank you Universe.

Yesterday on World Marriage Day it was good to read a post on Facebook by Michelle Barrack Obama. Every couple should read….

Yesterday on World Marriage Day it was good to read a post on Facebook by Michelle Barrack Obama.

Every couple should read….

*HARDCORE TRUTH ABOUT MARRIAGE!*

1. *There is nothing that threatens the security of a wife than the thought of another woman competing for the attention and affection of her husband.*
Nothing is more painful. Nothing is more disrespecting. Nothing is more insulting. Nothing is more belittling and degrading.

2. *Marriage flourishes when the couple works together as a team; when both husband and wife decide that winning together is more important than keeping score.*
Good marriages don’t just happen. They are a product of hard work.

3. *Your children are watching you and forming lasting opinions on love, commitment, and marriage based on what they see in you.*
Give them hope. Make them look forward to marriage.

4. *Husbands: The reason why other women look attractive is because someone is taking good care of them.*
Grass is always green where it is watered. Instead of drooling over the green grass on the other side of the fence, work on yours and water it regularly. Any man can admire a beautiful woman, but it takes a true gentleman to make a woman admirable and beautiful.

5. *When a husband puts his wife first above everyone and everything except God, it gives his wife the sense of security and honor that every wife hungers for.*

6. *A successful marriage doesn’t require a big house, a prefect spouse, a million dollars or an expensive car.*
You can have all the above and still have a miserable marriage. A successful marriage requires honesty, undying commitment and selfless love at the center of it all.

7. *Pray for your spouse every day; in the morning, in the afternoon and at evening.*
Don’t wait until there is a problem. Don’t wait until there is an affair. Don’t wait until something bad happens. Don’t wait until your spouse is tempted. Shield your spouse with prayer and cover your marriage with the fence of prayer.

8. *The people you surround yourself with have a lot of influence on your marriage.*
Friends can build or break your marriage; choose them wisely.

9. *One spouse cannot build a marriage alone when the other spouse is committed to destroying it.*
Marriage works when both husband and wife work together as a team to build their marriage.

10. *Don’t take your spouse for granted.*
Don’t take advantage of your spouse’s weekness and goodness. Don’t mistake your spouse’s loyalty for desperation. Don’t misuse or abuse yours spouse’s trust. You may end up regretting after losing someone that meant so much to you.

11. *Beware of marital advice from single people.*
Regardless of how sincere their advice may be, most of it is theoretical and not derived from real life experiences. If you really need Godly advice, seek it from God-fearing, impartial and prayerful mature couples whose resolve has been tested by time and shaped by trials.

12. *Dear wife, don’t underestimate the power of the tongue on your marriage.*
The tongue has the power to crush your marriage or build it up. Don’t let the Devil use your tongue to kill your spouse’s image, self-confidence and aspirations. Let God use your tongue to build up your marriage and bless and praise your spouse.

*Marriage is teamwork which works best without third party influence. Don’t let others predict the fate of your marriage. Create a relationship that is unaffected by the false presumptions of others*

WISHING YOU ALL A *HAPPY MARRIAGE* 🌹

Excellent. Must Read…Will Learn a LOT….!!!👌😊 A rare conversation between Ramkrishna Paramahansa & Swami Vivekananda

Excellent. Must Read…Will Learn a LOT….!!!👌😊

A rare conversation between Ramkrishna Paramahansa
&  Swami Vivekananda

Please share with our next generation or read it loud to family, it’s one of the best message I have come across…

*1. Swami Vivekanand*:- I can’t find free time. Life has become hectic.
*Ramkrishna Paramahansa*:- Activity gets you busy. But productivity gets you free.

*2. Swami Vivekanand:-* Why has life become complicated now?
*Ramkrishna Paramahansa:-* Stop analyzing life… It makes it complicated. Just live it.

*3. Swami Vivekanand*:- Why are we then constantly unhappy?
*Ramkrishna Paramahansa:*- Worrying has become your habit. That’s why you are not happy.

*4. Swami Vivekanand:-* Why do good people always suffer?
*Ramkrishna Paramahansa*:- Diamond cannot be polished without friction. Gold cannot be purified without fire. Good people go through trials, but don’t suffer.
With that experience their life becomes better, not bitter.

*5. Swami Vivekanand:*- You mean to say such experience is useful?
*Ramkrishna Paramahansa*:- Yes. In every term, Experience is a hard teacher. She gives the test first and the lessons later.

*6. Swami Vivekanand:-* Because of so many problems, we don’t know where we are heading…
*Ramkrishna Paramahansa:-* If you look outside you will not know where you are heading. Look inside. Eyes provide sight. Heart provides the way.

*7. Swami Vivekanand:-* Does failure hurt more than moving in the right direction?
*Ramkrishna Paramahansa:*- Success is a measure as decided by others. Satisfaction is a measure as decided by you.

*8. Swami Vivekanand:*- In tough times, how do you stay motivated?
*Ramkrishna Paramahansa:*- Always look at how far you have come rather than how far you have to go. Always count your blessing, not what you are missing.

*9. Swami Vivekanand:-* What surprises you about people?
*Ramkrishna Paramahansa:*- When they suffer they ask, “why me?” When they prosper, they never ask “Why me?”

*10. Swami Vivekanand:-* How can I get the best out of life?
*Ramkrishna Paramahansa*:- Face your past without regret. Handle your present with confidence. Prepare for the future without fear.

*11. Swami Vivekanand:*- One last question. Sometimes I feel my prayers are not answered.
*Ramkrishna Paramahansa:*- There are no unanswered prayers. Keep the faith and drop the fear. Life is a mystery to solve, not a problem to resolve. Trust me. Life is wonderful if you know how to live.

*Stay Happy Always!*