News & Insight

Self-storage stocks have made big gains since last year’s economic close, outperforming e-commerce stores, recovering shopping centers and rental homes.

An exercise in simple arithmetic may be sobering to those counting on EV growth to dampen oil demand. The number of vehicles on the road powered by internal combustion engines (ICE) will continue to grow until EVs achieve a near-total share of new vehicles sold. This is because the size of the total ICE passenger vehicle fleet is dictated by flows in and out (i.e., the removal of ICE vehicles from the road). In the first half of 2021, the EVs represented just 2.4% of all new passenger vehicles sold in the US. Modern vehicles have incredible reliability and longevity. New vehicles sold today tend to remain on the road for decades.

Sales of EVs are growing—in some ahead-of-the-curve markets, plug-ins are outselling internal-combustion vehicles—and countries and regions around the world are announcing deadlines to phase out fossil-burners. However, as a recent New York Times article points out, it could take years, if not decades, before electrification leads to substantial reductions in emissions.

The city of Ellsworth is expected to become the biggest buyer for power credits generated by a 40-acre solar panel installation on Mariaville Road, where a New Hampshire-based developer plans to erect nearly 11,000 panels.