A new study by oil industry consultancy Wood Mackenzie predicts that the demand for oil will start to decline as early as 2036, when autonomous cars become more popular. That forecast comes much earlier than many big oil companies predicted.
Automakers are crying foul after the Trump administration demanded information about their operations — including what some say is sensitive, proprietary information — as part of an investigation into whether to raise taxes on imported autos and auto parts.
The phrase “peak oil” was coined to explain when the world’s supply of oil would start running out. Over the past decade, however, the meaning has shifted from supply to demand—consumption of oil may dwindle out before resources do.
The study was conducted by AA, a British motoring group, which also says that myths around electric vehicles are keeping people from taking the plunge and going electric.
On July 1, Elon Musk went home to sleep. The chief executive of Tesla Inc. had been camping out at his electric car factory in Fremont, Calif., for much of the past week.
Just a few weeks after finally reaching its goal of building 5,000 Model 3 sedans in a week, Tesla has hit another threshold: Earlier this month, it sold its 200,000th car in the U.S.
Oil prices could top all-time highs near $150 a barrel because energy companies are investing too little money in new production, Bernstein Research said.
Air Resources Board chair Mary Nichols said in an interview that agreements with the federal government or automakers could be struck in the coming months as the state pursues its own changes to fuel economy standards through 2025.
California greenhouse gas emissions fell below 1990 levels, meeting an early target years ahead of schedule and putting the state well on its way toward reaching long-term goals to fight climate change.
The highest retail gasoline prices in years are the latest development to raise concerns about one of the longest-running U.S. economic expansions on record.
