Maryland

Economist: EVs Can Help Drive U.S. to Carbon-Neutral Power Grid

Published

2 weeks ago

May 7, 2024

Economist: EVs Can Help Drive U.S. to Carbon-Neutral Power Grid

Vehicle standards recently announced by the Environmental Protection Agency establish stringent new goals for manufacturers to slash greenhouse gas emissions and other forms of pollution, pushing the industry to accelerate a transition to electric vehicles.

The ruling aims to help achieve the administration’s goal to reduce U.S. emissions 50-52% below 2005 levels by 2030 and become carbon-neutral by 2050. But is it realistic to expect most Americans to switch to cars that, for now, are significantly more expensive than their gas-powered counterparts and rare on the used market? And will deploying vast fleets of EVs to replace traditional vehicles help prevent climate change if they’re charging up with fossil fuel-generated electricity?

To get some answers, we sat down with Joshua Linn, a professor in the University of Maryland’s Department of Agricultural and Resource Economics, who studies the effects of environmental policies and market incentives in the transportation, electricity and industrial sectors.

Do you think it’s possible to eliminate new gas vehicles by 2050, or to meet U.S. climate goals, for that matter?

2050 is a long way off, and when you look at the market for cars now, it is a lot different from what it was 25 years ago. Historically, a few decades is what’s required for big transitions in car markets. We’re still a long way from having all electric vehicles, and it seems unlikely we’re going to meet those targets ahead of time, but a lot will come down to how consumers perceive these vehicles. Many people are just still just learning about it and considering it.

We have a lot of policies that are supporting those goals, and they’re definitely pointing us in the right direction. Whether we get there by 2050 or if it takes longer is pretty hard to predict.

One barrier to adoption is that EVs tend to be more expensive than comparable gas vehicles, with the most popular EVs starting in the mid-$40,000s. How has China been selling them in the $10,000 range?

There are lots of ways that the market in China is different from the U.S. Many of China’s EVs are small, lower-end types of vehicles. I’m skeptical that those types of vehicles would do well here.

U.S. consumers have stronger preferences for big vehicles and certain accessories, and the segment of the market that’s expanding here is in crossovers and sport utility vehicles. That’s also where the manufacturers can earn higher markups, so that’s where they are putting their efforts for EVs. The market for smaller EVs just hasn’t been there yet.

But most EVs are too expensive to qualify for tax credits. Isn’t that hurting the switchover to electric cars?

These restrictions stem from a combination of politics and concerns about equity. EV subsidies didn’t used to have the price caps or income requirements, and nearly all of those tax credits were being claimed by very high-income households for very high-dollar vehicles. With the Inflation Reduction Act, there was a desire to shift those subsidies toward lower-income households who tend to buy less expensive vehicles.

That makes sense. Higher-income households will tend to buy what they want even without a subsidy, but when you offer subsidies targeted toward lower-income households, those consumers do respond to price reductions, and the subsidies are more effective at boosting sales.

As a result, now I think you’re going to see a lot more vehicles priced just below the cap, maybe a little smaller and with fewer bells and whistles, aimed at a different segment of the market.

Economically, how does owning an EV in the long term compare to having a gas vehicle?

Overall, it can be a good deal for many customers, but it’s not an overwhelming savings. You don’t pay for gasoline, but you do pay for electricity. So, it really depends a lot on how much you drive and where you live. In regions like Maryland, we’re sort of in the middle for electricity prices across the country, and it’s more attractive than somewhere like California where electricity rates are very high.

Most drivers are converting to EVs from efficient gasoline vehicles like hybrid sedans, not giant pickup trucks. So, if you compare an electric vehicle to an efficient gas-powered sedan, you’ll cut your driving costs per mile by maybe half, depending on gasoline prices. You may save hundreds of dollars a year, but it probably won’t be thousands.

And then you have to consider the cost of adding a charging station to your home, although there are subsidies for that. And maintenance costs on EVs are lower.

For those who don’t see that as an economic incentive, and aren’t concerned about cutting carbon emissions, how will the U.S. increase EV adoption?

That gets back to the idea of how consumers see these vehicles, and I think it’s given rise to a new strategy, which is to say, “Yes, you will save on fuel, it’s good for the environment and all that’s true, but it’s also just more fun to drive an EV.” They give you really good performance on acceleration. They’re quieter, and manufacturers are building in entertainment features and high-end interiors.

Much of the U.S. grid still runs on fossil fuels, so if all Americans switch to electric cars, won’t that just shift emissions from cars to the power companies?

As more people drive EV’s across the country, there’s going to be an increase in overall electricity demand, which means there’s going to have to be investment in the power grid—new generators, and enhancements to the distribution network, all of that. If the cost of wind and solar are cheap, and other environmental regulations increase the cost of building new coal or natural gas-fired power plants, people will build wind and solar to meet the electricity demand. And that’s how we eventually decarbonize our electricity sector.

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Maryland weather: Finally dry for Sunday

Published

2 hours ago

May 19, 2024

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Maryland weather: Finally dry for Sunday

CBS News Baltimore

Live

BALTIMORE-

Sunday is starting off partly clear to mostly cloudy with a lot of moisture aloft to our east, but we are finally DRY.

Temperatures range as you get ready to head out the door from the 50s to the 60s.

Highs reach the lower to middle 70s this afternoon under cloudy skies. A spotty chance at a shower remains in our forecast.

Clouds will build as we head into the evening and overnight, keeping us in the upper 50s.

Monday will bring some sunshine back into our forecast.

Tuesday we see a shot at the 80s.

Shower chances do increase as we head into the middle workweek.

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Jeremi Tremblay's hat trick sends Maryland to Robertson Cup Championship Game

Published

9 hours ago

May 19, 2024

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Jeremi Tremblay's hat trick sends Maryland to Robertson Cup Championship Game

BLAINE, Minn. — The Maryland Black Bears will play for the Robertson Cup after earning a 6-2 win over Minot Saturday night at Fogerty Arena.

The win secures a two-game sweep for the Black Bears, who will play the Lone Star Brahmas for the prestigious Robertson Cup on Tuesday at 7 p.m.

Maryland went 3-for-6 on the power play and Sacred Heart commit Jeremi Tremblay scored three times, propelling his team to victory.

Owen Lepak also played a key role for the winning squad, as the Michigan native stopped 46 of the 48 shots the Minotauros fired his way.

Jeremi Tremblay of Maryland celebrates after scoring a power-play goal against Minot on May 18, 2024, during the Robertson Cup semifinals in Blaine, Minnesota.

Sydney Wolf / The Rink Live

Maryland opened scoring late in the first period with its first of the three power-play tallies. Holy Cross commit Matthew Croxall sent a cross-ice pass to Tremblay, who fired a shot past Minot netminder Brady James from the left circle.

The Minotauros tied things up early in the second period as Nick Sewecke sent a rebound past Lepak, which started on a shot from defenseman Colby Woogk.

However, it didn’t take long for the Black Bears to take the lead again. Maryland won an offensive-zone faceoff and Dylan Gordon skated the puck around the left circle, pushing his way to the front of the crease and sliding the puck past James.

Maryland took a two-goal lead later in the second period thanks to a bit of penalty trouble from the Minotaurous.

The Black Bears had a full two-minute 5-on-3 powerplay as Will Dawson was sent to the box for hooking and Chad Muller was penalized for head contact. Tremblay tallied his second goal of the game from on the ensuing man-advantage.

Air Force commit Sam Stitz further increased the Maryland lead in the third period as he clapped a shot into the back of the net for another power-play strike.

Minot attempted to make a comeback in the final minutes of regulation, and Cayden Casey did score a goal, but that wouldn’t prove to be enough in the 6-2 loss. Maryland tacked on two empty-net goals to finish the contest, including Tremblay’s third of the night.

In addition to Tremblay’s two goals, Dimitry Kebreau registered three assists and Cal Huston had two in the victory. The Minotauros went 0-for-5 on the man advantage.

This story will be updated.

MARYLAND 6, MINOT 2

MYD: 1-2-3—6
MNT: 1-0-1—2

First period scoring — 1. MYD, Jeremi Tremblay (Matthew Croxall, Luke Janus) 15:23 (ppg)
Penalties — MYD, Kareem El-Bashir (roughing) 9:12; MNT, Ian Spencer (kneeing) 12:05; MNT, Ian Spencer (high-sticking) 14:22

Second period scoring — 1. MNT, Nick Sewecke (Colby Woogk, Trevor Stachowiak) 3:09; 2. MYD, Dylan Gordon (Dimitry Kebreau) 9:34; 3. MYD, Jeremi Tremblay (Cal Huston, Dimitry Kebreau) 13:28 (5-on-3)
Penalties — MYD, Sam Stitz (slashing) 3:49; MNT, Will Dawson (hooking) 13:16; MNT, Chad Muller (head contact) 13:16; MYD, Michael Urgo (cross-checking) 18:55

Third period scoring — 4. MYD, Sam Stitz (Dimitry Kebreau, Cal Huston) 12:58 (ppg); 2. MNT, Cayden Casey (Chad Muller) 14:05; 5. MYD, Jeremi Tremblay (unassisted) 18:11 (eng); 6. MYD, Riley Ruh (Luke Amell) 18:38 (eng)
Penalties — MYD, Cal Huston (holding) 6:12; MYD, Luke Amell (high-sticking) 6:18; MNT, Jack O’Hanisain (slashing) 6:23; MNT, Ian Spencer (checking from behind) 11:55

Shots on goal — MYD, 15-12-6—33; MNT, 15-15-18—48
Goalie saves — MYD, Owen Lepak 15-14-17—46 (2GA); MNT, Brady James 14-10-3—27 (4GA)

Penalties-minutes: MYD, 5-10; MNT, 6-12
Power-play goals—opportunities: MYD, 3-6; MNT, 0-5

Sydney Wolf is a reporter for The Rink Live, primarily covering youth and high school hockey. She joined the team in November of 2021 and graduated from St. Cloud State University with a degree in Mass Communications and a minor in Writing and Rhetoric Studies.

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2024 Preakness Stakes Day: Gallorette, Maryland Sprint, Dinner Party Stakes Bets

Published

16 hours ago

May 18, 2024

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2024 Preakness Stakes Day: Gallorette, Maryland Sprint, Dinner Party Stakes Bets

I plan to use my winnings from the prior races to bet on the 2024 Preakness Stakes Saturday, May 18th at Pimlico Race Course in Baltimore, Maryland. With that in mind, there are four Graded stakes races on Preakness Day. I have action in three: Grade III Gallorette Stakes, Grade III Maryland Sprint Stakes, and the Grade III Dinner Party Stakes.

For many people, including myself, betting on horse racing is intimidating. The past performances (PPs) are loaded with info, shorthand notes, and seemingly random numbers. It’s super fun, and you can make lifetime cashes on small bets. Here’s a quick crash course for horse race betting that I wrote for the 150th Kentucky Derby two weeks ago:

The Stakes Barn awaits horses on Preakness Stakes 2024 Day at Pimlico Race Course in Baltimore, Maryland. (Mitch Stringer-USA TODAY Sports)

You can bet a horse to Win (1st), “Place” (2nd), and “Show” (3rd) or “Across the Board”, which is betting all three. There are exotics such as “Exacta”, “Trifecta”, and “Superfecta” for those searching for massive paydays. In an exacta, you bet 2+ horses to finish 1st or 2nd. A trifecta includes 3+ horses for the Win-Place-Show.

A superfecta is 4+ horses to finish 1-4. By “boxing” an exacta, bettors can win if at least two of their picks Win or Place. The same goes for trifecta and superfecta boxes. “Keying” an exotic allows you to put your winner “up top” with horses underneath to finish in any order … Understood, right? Probably not.

Let’s get into the fun stuff: Gambling.

Preakness Stakes 2024 Undercard Picks

Race 7: Grade III Gallorette Stakes, 2:08 p.m. ET post time

A six-horse, one-and-1/6th-mile race on the turf for fillies three years old and up with a $100,000 purse.

3- Blissful

Morning Line (ML) odds: 7-2
Record (Starts-Win-Place-Show): 12-3-1-3
Jockey: Brian Hernandez Jr.
Trainer: Cherie Devaux

The #3 horse finished second in her last time out, ran her fastest speed ever, 88, and had a lead entering the home stretch. However, that race was one-and-1/8th-mile, so the shorter distance should help Blissful. All three of her wins were at this distance and on turf, including two races ago. Blissful has hit the money in five consecutive races (1-1-3). She was the top betting choice in three of those and outrun her odds in the other two.

7- Fluffy Socks

ML odds: 6-5
Record: 25-5-9-4
Jockey: Irad Ortiz Jr.
Trainer: Chad Brown

At first, I looked for ways to fade Fluffy Socks because of her price. Yet, I cannot and this filly is by far the best in the Gallorette. Fluffy Socks has an elite jockey-trainer combo. She made the exacta in 10 of her 17 career graded stakes races. Since I’m Saratoga-bred, I’m biased toward Fluffy Socks since she’s been successful in my hometown. Fluffy Socks has finished Placed in three of her last four Saratoga races.

$5 Exacta Box: 3-7 for a $10 bet

_____________________________

Race 8: Grade III Maryland Sprint Stakes, 2:48 p.m. ET post time

A six-horse, six-furlong race on dirt for three-year-olds and up with a $100,000 purse.

1- Coastal Mission

ML odds: 3-1
Record: 19-12-3-1
Jockey: Arnaldo Bocachica
Trainer: Jeff Runco

Coastal Mission will break at shorter odds, if not as the favorite. The only knock on his resume is a fifth-place finish by 10 lengths in his only stakes race, the Grade II Cigar Mile, at Aqueduct in December 2023. Otherwise, Coastal Mission has won seven of his last eight races.

He ran his fastest career speed, a 100 Beyer, his last time out in a longer race at Laurel last month. Finally, this is a “good setup” for Coastal Mission. It’ll probably be a wet track because of early afternoon rain at Pimlico. Coastal Mission is 6-0-0 in eight career races on wet tracks and is 6-3-1 in 11 career races at this distance.

3- Super Chow

ML odds: 4-1
Record: 18-8-4-5
Jockey: Javier Castellano
Trainer: Jorge Delgado

He’s hit the money in three consecutive races (2-0-1), all graded stakes races. When Super Chow runs at this distance, he is 6-2-2 in 11 starts. The four-year-old is 2-1-0 in three starts on wet tracks. Super Chow is 1-0-0 in two career starts at Pimlico. But, his win was by six-and-1/4th lengths at six furlongs.

4- Jaxon Traveler

ML odds: 6-1
Record: 29-9-7-5
Jockey: Flavien Prat
Trainer: Steve Asmussen

A top-two jockey-trainer combo in the Maryland Sprint. Jaxon Traveler runs well at Pimlico: 3-2-0 in six career starts. One of those second-place finishes was Grade III Chick Lang Stakes on Preakness Day in 2021. Jaxon Traveler won the six-furlong Grade III Whitemore at Oaklawn in March. The six-year-old has three wins in his last five times out.

PICK(s):

$2 Trifecta Key: 1/ 3-4 for a $4 bet
$11 Win on 1- Coastal Mission

_____________________________

Race 12: Grade III Dinner Party Stakes, 5:52 p.m. ET post time

A nine-horse, one-and-1/8th-mile race on the turf for three-year-olds and up with a $500,000 purse.

1- Highland Chief (Ireland)

ML odds: 12-1
Record: 17-4-2-2
Jockey: Jorge Ruiz
Trainer: H. Graham Motion

I could’ve just stopped at the top of the Dinner Party PPs. Highland Chief has run well since coming to America in 2022. Five of his six American races have been Graded. He’s won two of those: Grade I Man O’ War Stakes at Belmont in May 2022 and Grade III Sycamore at Keeneland in October later that year.

Highland Chief’s 105 Beyer in the Man O’ War win was the fastest speed of any horse in this field. Lastly, the Irishman is a “closer” and usually runs a longer distance. His last six races have been at least one-and-1/4th miles long.