The media flavor of the day is “Peak Oil Demand.” It’s being predicted due to plummeting battery costs for electric vehicles, which are on the verge of reaching a point where EVs become competitive with internal combustion vehicles, resulting in a drop in oil consumption.
Oil prices will remain stuck in a range near $50 a barrel unless one of two global hotspots delivers an October surprise to the market, jolting the cost of crude higher, according to Helima Croft, global head of commodity strategy at RBC Capital Markets.
In April, the White House announced its intent to review 27 different national monument designations, as the Interior Department looks for commercial opportunities for the oil, mining and timber industries on American public lands.
Imagine how shareholders would react if Exxon Mobil gave away a third of the oil it produced, rather than selling it at market prices. There would be hell to pay, right?
California Assembly member Phil Ting, D-San Francisco, says electric cars are the future. And the future he envisions in a bill making its way through the Legislature comes with a $3 billion price tag.
Today, you’d be hard pressed to find an major automaker that’s still in denial about electrification. Even vocal skeptics like Volkswagen and Mazda have come around to the idea that tomorrow’s cars, trucks, vans, and SUVs will run on electricity, not gasoline or diesel.
U.S. biofuels regulations, which mandate mixing corn-based ethanol into gasoline, have lately drawn together a diverse cast of political opponents.
The vehicle will be aimed at buyers in North America, Europe, and China and will come in passenger and cargo van models. VW also says the bus will be a strong part of its strategy for autonomous transportation.
The chokepoint, near where Sunday’s collision between the USS John S. McCain and an oil tanker occurred, is one of the world’s busiest shipping routes.
Today’s solar eclipse is expected to have an important impact on productivity and solar energy generation, but all the travel to optimize the viewing experience also has another less obvious impact.
