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Fear of the unknown is only natural. It’s no surprise many drivers who are unfamiliar with electric vehicles worry that if they make the leap to this new technology, their lives will be plagued by problems they’ve heard about on the news like range anxiety or long recharge times. Predictably, those with a political ax to grind against electrification stoke those fears, hoping to paint EV as a deficient or inferior product, or a sacrifice big government wants you to make for the greater good. They are wrong.
I won’t lie to you and say EVs are flawless. There are things gasoline gas does that electric cannot, such as making a Cannonball Run across the country with a bare minimum of stops. What you might not realize if you’ve yet to drive or own an EV, however, is all of the ways that they are clearly, obviously better. Yes, the climate case for electric vehicles powered by renewable energy is the big, bold-faced reason to move away from internal combustion. Even if you set aside green reasons to buy an EV, the electric life is an upgrade.
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Fearmongering about EVs often focuses on long-distance driving, since this is the one place where gasoline holds a clear advantage — yes, it is slightly more cumbersome to rely on EV fast-chargers than it is to pull off the interstate for five minutes or less whenever you need gas. As charging gets faster, though, and battery ranges get longer, the inconvenience gap is shrinking. At a certain point, the distance you can travel down the highway on one charge will be greater than or equal to the amount of time you’d want to go between bathroom breaks, anyway.
Now ask yourself: What are your driving habits actually like? If you’re like most Americans, you take the occasional long road trip, but 90 percent of your driving happens within a few dozen miles of home: getting groceries, commuting, dropping off the kids at dance practice. (There’s a reason most auto accidents happen within 15 miles of home. It’s where we drive.)
You don’t need gasoline to live like this. EV owners can plug into the garage after work and wake up each morning with more than enough range for the daily grind. No more stopping at the gas station on the way home from work and standing out in the blazing heat or freezing cold to pump fossil fuels into your car.
Saying goodbye to the gas station also, mercifully, means saying goodbye to paying for gas. As I write this in Los Angeles, the average price in California has exceeded $6 per gallon, while the national average is up to $3.79. For a variety of reasons, it’s difficult to do an apples-to-apples cost comparison between gas and electric. They don’t commonly use the same units; electricity can have a much different price per kilowatt-hour depending on the time of day and whether you charge at home or at a public fast-charger. However, although you can find studies that bend over backward to twist the numbers to favor gasoline, driving electric typically costs less per mile. The gap gets bigger if you live in a state with high gas prices or do nearly all your charging at home, where it’s cheap.
Those savings, along with government incentives, made the higher up-front cost of an EV easier to swallow. So does the potential for less routine maintenance. I can’t tell you how nice it is to forget about oil changes.
Then there’s performance.
Today’s super-deluxe EVs post bonkers zero-to-sixty times. High-end versions of the Tesla Model S, Lucid Air, Porsche Taycan, and even the Rivian R1T pickup truck hit the mark in three seconds or less. The reason is mechanical: An electric motor can deliver all its torque from a stop, while a gas engine is particular about just where it can reach peak horsepower and torque.
This truth matters even if you’re not planning to spend six figures on an electric car, because it means even the more modestly priced EVs are just fun to drive, with lots of zip off the starting line. Forget the car guy stats: What will make you happy is the feeling as your EV silently pins you back against the seat or effortlessly accelerates to highway speed as you merge — the moment of Zen that has been promised by a thousand cliched car commercials. And you don’t have to spend a hundred thousand dollars to get it.
EV ownership also delivers other little quality-of-life improvements. For example, full climate control: A big battery means you can blast the car’s AC or heat for a long time without running a gasoline engine. It means you’re not polluting the neighborhood’s air as you sit there idling for minutes on end, waiting for the kid you’re picking up to get in the car already. It means you can preheat or pre-cool the car from inside the house, or leave the vehicle on Dog Mode so it air-conditions your pooch while you run into Starbucks.
A combustion vehicle will always be a rolling, carbon-emitting power plant. An EV has the potential to be much more — part of a smarter, more integrated future. Homeowners with solar panels could use that clean energy to fill up their car batteries. And when more vehicles join the Ford F-150 Lightning in offering two-way charging, more EV owners will be able to use their cars as a power supply that could, for example, keep the house lights on in case of a blackout.
Electric isn’t for everyone. Not at this moment, anyhow. For people who can’t charge at home or at work, the challenge of getting electricity at public fast-chargers can be too annoying or expensive. If you drive lots of miles off the beaten path, far from the interstate highway system, you might wait, justifiably, until the map fills in with more chargers.
For the urbanite or suburbanite, it’s time to get real. We all want our cars to do everything, and yes, for the occasional journey of four-plus hours, it’d be slightly easier to keep burning gas. Life isn’t summer vacation, though. Life is driving to work and to date night. Life is sitting in traffic and then feeling that sweet exhale of accelerating when it finally opens up. Electric isn’t just better for the planet — for everyday driving, electric is better for you, too.
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Americans paid $217 on average for electricity last month, according to Heatmap and MIT’s Electricity Price Hub.
July is typically the season of high electricity bills, and this year is no exception.
Nationally, the average electricity bill spiked to $217, an all-time high, according to new data from Heatmap and MIT’s Electricity Price Hub. That’s up from $177 in June, and $215 last July. Meanwhile, electricity rates were 19 cents per kilowatt-hour, virtually unchanged from June and slightly higher than July of last year.
Throughout the country, many ratepayers are seeing higher costs and charges in the portion of their bill covering the cost of power generation.
Once again, some of the most notable electricity price and bill trends were seen in the mid-Atlantic region, the heart of the data center boom and the anchor area of the PJM Interconnection. The region also includes Virginia, where Florida utility and energy developer NextEra is attempting to acquire the commonwealth’s dominant utility, Dominion.
In July, Dominion customers saw typical generation charges rise to $155 a month, up from $124 a year ago. Overall bills for Dominion customers were about $259 this past month.
The higher bills are in part due to the “fuel charge rider” that went into effect this past month to help recover about $1 billion in additional generation costs claimed by the utility. Those charges stem in part from higher fuel costs this past winter, when natural gas prices spiked to their highest level since the winter of 2022-23, Dominion officials said in a filing to the state’s utilities regulator. The MIT researchers estimate that the fuel charge added around $53 to July bills, up $12 from July of last year.
In neighboring Delaware, bills were $216 a month in July, a record high, while prices were around 19 cents per kilowatt-hour. Customers of the state’s main utility, Delmarva Power, saw a near 20% hike in the supply charge in their standard service offerings, as prices rose from around 16 cents per kilowatt-hour from last year.
The Delaware Public Service Commission voted at the beginning of last month to allow an interim rate increase of about $3 per month for the typical customer, which went into effect July 9. Soon after, Delaware Governor Matt Meyer signed a law giving the state’s regulators more discretion to reject putting certain utility costs into the rate base and thus limit subsequent price hikes requested by utilities. The governor’s office described the law as a mechanism “to prioritize prudent spending over unchecked cost recovery.”
The new vehicle — with a price tag just shy of $30,000, all in — represents the storied U.S. automaker’s big swing at winning entry-level buyers.
Ford’s electric moonshot, the mid-size pickup truck that would get it back into the EV race, finally has a name: Fathom.
The Detroit giant announced the name of its long-anticipated, highly mysterious vehicle on Thursday, alongside its price and some of its specs. The Ford Fathom will cost $28,350, not including delivery and destination fees that take its price right up to the 30-grand mark — $29,945, to be precise. Ford says it will start taking reservations early next year and deliver the first pickups later in 2027.
We don’t yet know the battery range or, crucially, what it’ll look like, as Ford is holding back the visual reveal. What we can say is that, as a mid-size pickup, the Fathom should be around the size of the gas-powered Ford Maverick, which has a near-identical starting price. Without getting into dimensions, Ford promises it will have more passenger volume than Toyota’s ubiquitous RAV4 SUV, with a frunk and a truck bed to boot.
Ford says every Fathom will be BlueCruise-capable, referencing the company’s hand-free driving assistant for highway travel. Fathom will also feature bi-directional power capability, enabling the battery to double as home energy storage, as well as embedded Apple Maps on its large touchscreen. Importantly, it will retain compatibility with Apple CarPlay and Android Auto, which has become a dealbreak for many drivers.
Fathom will be the first EV produced on Ford’s Universal EV Platform, the technology setup that has been under development at the company’s skunkworks operation in Long Beach, California. I visited there this spring to see the team that was, far from the glare of the suits in Detroit, trying to reinvent the company’s EV manufacturing strategies so it could make better and more affordable electric cars. Even then, though, I couldn’t get a look at the Fathom — or any other car designs that may or may not be under way there, as they were all still under wraps.
The skunkworks project is all about process. Ford was losing billions on its previous generation of EVs, led by the Ford F-150 Lightning and Mustang Mach-E, despite the relatively high sticker price of those cars. Engineers tried to mimic some of the stripped-down, iterative strategies of smaller firms and startups — such as stripping miles of wiring out of the vehicles — to work faster and simplify manufacturing, thereby cutting costs.
That work has allowed Ford to start the Fathom at effectively $30,000, placing it smack within the range of America’s most affordable electric vehicles. Its most obvious competitor would be the Slate EV truck, which has just begun to take reservations. Slate starts at about $25,000, but that price gets you a bare-bones pickup with roll-up windows and a plain gray exterior. Add enough a la carte features to make the truck technologically competitive with something like the Fathom and it, too, would cost around $30,000.
At the price, the Ford Fathom is also directly competitive with entry-level EVs like the new Chevy Bolt and Nissan Leaf. But as a mid-sized truck, Fathom would be more spacious and practical than a vehicle like a Bolt, while coming in well below the $35,000 starting cost of a bigger crossover like the Chevy Equinox EV.
Ford, in its announcement, ruminated on the meanings behind the “Fathom” moniker. The company wanted its crucial new EV to have a name, not an alphanumeric code like the Ford F-150. Fathom was chosen because of its twin meanings: the classical unit of measure for water depth, and the verb meaning to deeply and fully understand something.
The implication is that the Fathom EV is meant to comprehend the customer and what they want out of an electric truck. How Ford’s pickup measures up to their aspirations depends greatly on details about this vehicle that are not yet known. But just putting out a battery-powered pickup truck for under $30,000 is a great start.
Current conditions: The heat dome in the American Southwest is worsening, with temperatures in Phoenix set to climb as high as 110 degrees Fahrenheit • The wildfires in Greece have killed at least five people as thermometers in Athens near the triple digits • Sri Lanka’s sprawling capital of Colombo is in the midst of a week of intense thunderstorms.
The Department of Defense halted reviews of onshore wind projects in May on national security grounds, a move that my colleague Jael Holzman described at the time as “extrajudicial” and that would ultimately “murder an American industry.” Now the judiciary is getting involved. On Tuesday, U.S. District Judge Karin Immergut, a Trump appointee, indicated that she would likely find in favor of a coalition of renewable energy groups that sued the Trump administration to restart reviews. At the start of a two-hour hearing, Courthouse News Service reported from the federal courthouse in Portland, Oregon, Immergut said there was “strong evidence the government had violated statutory and regulatory deadlines” when the Pentagon stopped carrying out routine reviews needed to progress federal permits for wind turbines to the Federal Aviation Administration.

The Trump administration is preparing to impose new tariffs and minimum import prices on polysilicon in a bid to prop up a domestic supply chain for the primary ingredient in semiconductors and solar panels. The decision, due out after the market closes today, will set a tariff of at least 15% on imported polysilicon and set baseline prices for each component in the supply chain, from the raw material derived from purified quartz to solar wafers, cells, and modules, sources familiar with talks told me, confirming broad details first reported by Reuters and Bloomberg. The Department of Commerce plans to delay implementation to allow domestic manufacturers that rely on imported components time to adjust, and provide offsets to companies that make major investments in the U.S. The policy will serve as a key lifeline to solar manufacturers, who lost one of their main incentives to buy made-in-America panels when the investment and production tax credits for solar effectively ended last month. But industry sources told me that the new trade restrictions would likely fall short of incentivizing new manufacturing, and would require more support on the demand side. The dynamic mirrors what my colleague Matthew Zeitlin called the “paradox of Trump’s critical mineral crusade,” whereby the administration pulled out all the stops to boost mining of rare earths and lithium while eliminating the landmark electric vehicle tax credit that ensured a domestic market for those metals.
It’s hardly the only protectionism the Commerce Department is attempting this month. On Thursday, the agency plans to publish a temporary final rule that would block exports of battery scraps and tungsten waste without a special waiver from the Bureau of Industry and Security. Producers of the materials, E&E News reported, would be required to sell in the U.S. for one year. The move comes a week after President Donald Trump signed a memo blocking exports of mineral-rich waste as the White House seeks to shore up supplies of metals for weapons production. Tungsten, as the Bloomberg “Odd Lots” podcast explained nicely in a recent episode, has a very high melting point, making it ideal for artillery and ammunition. While it’s typically in demand in low amounts during peace time, soaring interest is a sign of widening global conflicts.
For retail investors, Oklo emerged as the face of the small modular reactor industry in 2024 after the Silicon Valley nuclear darling debuted on the stock market. But the company hadn’t yet split atoms. Last night, the company’s low-power test reactor in Texas sustained a reaction for the first time. The milestone makes Oklo the fifth company in the Department of Energy’s Reactor Pilot Program to achieve criticality, but the first to do so on private land. Oklo boasted that the company had erected the facility at a previously undeveloped greenfield site in less than a year, demonstrating that “American nuclear deployment timelines can be measured in months rather than years,” the company said in a press release.
The move comes five months after the Nuclear Regulatory Commission, which notoriously rejected Oklo’s first attempt at gaining approval for its power plant reactors, approved the company’s plans to produce medical isotopes from low-powered reactors, as I exclusively reported in this newsletter at the time.
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Two House Democrats formally referred Secretary of Energy Chris Wright to the Department of Justice for potential prosecution, accusing him of lying to Congress when asked whether the agency canceled green grants for partisan reasons. In a letter published Wednesday in The Hill, Representatives Zoe Lofgren of California and Gabe Amo of Rhode Island, alleged that Wright lied when he testified his blocking of billions in climate spending had nothing to do with the money going to states that voted for Democrat Kamala Harris in the 2024 election. In a federal lawsuit related to the same award terminations, Energy Department lawyers admitted that “the inclusion of grants in the October notice tranche was based solely on the political identity of the grant recipient’s state” Wright previously testified that politics had no role in the decisions. “Secretary Wright lied to the Committee with his statements, which sought to prevent us from learning the truth: that the October award terminations were an act of political retaliation,” Lofgren and Amo wrote in the letter, addressed to acting Attorney General Todd Blanche. “In doing so, he violated 18 USC §1001, which bars individuals from making ‘any materially false, fictitious, or fraudulent statement or representation’ to Congress. We have no choice but to refer Secretary Wright to the Department of Justice for potential prosecution in this matter.”
In 1978, the U.S. used millions more tons of coal than today. Yet miners in Appalachia are facing rates of pneumoconiosis — the incurable, fatal disease known as black lung — at exactly the same levels today. That’s the finding of new data published Wednesday in the American Journal of Respiratory and Critical Care Medicine. Miners in Kentucky, Virginia, and West Virginia who had spent at least 25 years working underground had by far the worst rates, with one in three testing positive in X-rays conducted by the National Institute for Occupational Safety and Health, a federal agency. “I’m disgusted,” Scott Laney, a NIOSH research epidemiologist who is the lead author of the research letter, told NPR. “This is not going to get better because of all the disease that’s already in the pipeline. These guys are being treated like disposable widgets, not human beings. … We’re watching them die right before our eyes.”
Your humble correspondent is due for a series of flights this afternoon. I lose little sleep over my personal carbon footprint; I don’t find it a useful metric, and even if I did, I live in New York City, so my family’s life in dense housing and reliance on public transit already places me well below most Americans. But I can’t help but think of it when I’m riding multiple planes in one day. Which makes this new Bloomberg feature so exciting. In Brazil’s Minas Gerais state, more than 200 researchers are working to commercialize jet fuel made from the oil-rich fruit of the macauba palm tree. Across 356,000 acres, the Abu Dhabi-based biofuels producer Acelen Renováveis plans to start processing macauba oil as part of a $3 billion project. The effort is meant to help the push to reduce airlines’ carbon intensity, but — as with biofuels in general — it’s worth considering the climate benefits with healthy doses of skepticism until detailed analyses come out.