For Today: Waste Management opens 100 CNG stations, Elon Musk raising bonds for Model 3

100 CNG stations:  Refuse company Waste Management just installed its 100th natural gas fueling station, in Oklahoma City. The company uses these stations, 25 of which are open to the public, to fuel its 6,000 unit fleet of natural gas trucks. It’s the largest natural gas-powered fleet of its kind in North America. The company is moving toward its goal of reducing carbon dioxide 15% from its fleet by 2020. Much of the fuel being used is renewable natural gas, which comes from waste matter stored in landfills. “We invest in building our own fueling infrastructure to refuel our vehicles, while making CNG available to other commercial fleets and individuals,” said Marty Tufte, Waste Management corporate fleet director.

Fossil fuel subsidies:  A study was just published in the World Development journal that quantifies the amount of subsidies directed toward fossil fuels globally is still massive –  6.5% of global GDP still goes to subsidizing fossil fuels. Those subsidies came to $4.9 trillion in 2013 and rose to $5.3 trillion two years later. The study found that petroleum and coal used in transportation and electricity receive much larger subsidies compared to counterpart fuels.

Tesla raising bonds:  Tesla CEO Elon Musk was able to raise $600 million in just a few hours meeting with bond buyers in Manhattan on Monday, according to investors briefed on the matter. It was part of a four-day road trip to raise $1.5 billion to pay for production of the Model 3 through junk-rated bonds. The company is spending a lot of cash on building out the Fremont, Calif., assembly plant, and battery packs at its Gigafactory in Nevada. The company burned through a record $1.16 billion in cash during the second quarter. It looks good for Tesla hitting the $1.5 billion this week.

 

 

 

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