The plunge in global oil prices has eroded an important pillar of Saudi Arabia’s strategy of pumping freely to grab global market share: Demand growth that once looked solid doesn’t look so steady anymore, mainly due to concerns about China.
Oil plunged to as low as $37 per barrel early Monday, as concerns about the world’s economic health led to a dramatic selloff on markets and stock indexes around the world.
Hundreds of Californians with household incomes of $500,000 or more have collected state subsidies for buying electric and hybrid cars under a program that is criticized as a taxpayer handout to the wealthy. State regulators, in response, are restricting the subsidies to Californians who earn less than $250,000 or couples taking in less than $500,000.
The oil price was near its lowest in more than a decade, cash reserves were being depleted, emerging markets were in turmoil and Saudi Arabia was beginning to panic. That was 1998, and now Saudi Arabia’s fortunes threaten to turn again.
U.S. oil prices recorded their eighth consecutive week of falls, the longest losing streak since 1986, after a sharp drop in Chinese manufacturing increased worries over the health of the world’s biggest energy consumer.
Tesla Motors Inc. has launched a wholesale revamp of its stores worldwide as the electric-car company prepares to debut the Model X, its first sport-utility vehicle. The effort is largely devoted to telling the Tesla story, critical for a young company selling a product that remains mysterious — and intimidating — to most drivers.
Breathing Beijing’s air is the equivalent of smoking almost 40 cigarettes a day and calculates that air pollution causes 1.6 million deaths a year in China, or 17 percent of the total.
Aug 20 Climate change has aggravated California’s devastating drought, causing between 8 and 27 percent of the dry conditions afflicting the nation’s most populous state, a study released on Thursday has found.
All over California, people are receiving very expensive-looking full-color, multi-page mailers and being subjected to radio spots announcing something called the California Gas Restriction Act of 2015. These turn out to be part of a massive and highly dishonest oil company campaign denouncing one of the best and most exciting bills that has been considered by the California legislature in a decade.
For planet Earth, no other month was as hot as this past July in records that date back to the late 1800s, NOAA says. And the globe is well on its way to having its hottest year on record.
