The tussle for supremacy between OPEC and U.S. shale drillers is killing off older oil fields at the fastest pace in almost a quarter century. That could hurt the industry once the current glut has faded.
Skepticism of electric cars melts a bit more with each new announcement from the likes of Tesla, which last week launched production of a mass-market vehicle, and Volvo, which days later promised to phase out gasoline-only engines by 2019.
Basically, we’re driving as much (per person) as we were in 2000, and the rate is rising. But a meaningful, long-term shift is occurring in driving patterns, as a new paper by Michael Sivak and Brandon Schoettle of the University of Michigan makes clear.
Solar, wind and electric vehicles are now said to have such momentum that they are going to cause a peak in oil demand within as little as five years, according to the most optimistic projections.
Faraday Future, the electric-vehicle startup backed by LeEco founder Jia Yueting, halted plans to build a $1 billion factory in Nevada as the troubled tycoon fights for the survival of his Chinese car business.
Consumers may have lost interest for now in the most fuel-efficient cars because of low gasoline prices, but the future for hybrid and electric cars is more certain than ever.
But the need for specially designed engines to run biodiesel is holding back the technology.
U.S. Secretary of State Rex Tillerson took a brief break from his diplomatic duties, returning to his Exxon Mobil comfort zone to bask in the glow of approval from his former colleagues in the oil sector.
Unexpected manufacturing problems and the sudden emergence of competition is leading Tesla backers to reassess whether the Silicon Valley automaker’s head start on long-range electric cars is fading.
The CEO of Saudi Aramco, Saudi Arabia’s state-run oil company, said Monday a decline in exploration activity will lead to a global shortage, even as the oil market deals with a persistent oversupply.
