(Oil & Gas 360) – Earlier this week, the world-famous Paris Auto Show saw some international political heft inserted into its usual line-up of fast cars over the European Union’s electric vehicle (EV) mandates. BMW’s CEO Oliver Zipse warned that EU efforts to virtually eliminate the production of internal combustion engines (ICE) and diesel-powered vehicles over the next ten years
(Oil & Gas 360)—Ford’s ongoing ”market therapy” regarding a less-than-enthusiastic reception for its three electric vehicle (EV) models is costing the company about $3 billion to convert a Canadian plant from its purpose-built EV design to produce more of its Super Duty truck models (F-250, 350, and 450). Trucks constitute the lion’s share of Ford’s business; its F-150 internal combustion
BOE Report Exxon Mobil said on Monday it expects crude demand to stay above 100 million barrels per day (bpd) through 2050, similar to today’s levels, a forecast 25% higher than top European rival BP. The stronger demand projected by the largest U.S. oil company in its latest global oil outlook underpins Exxon’s production growth plans, the most ambitious among Western
Oil Price Americans continue to be fans of gasoline-powered vehicles and prefer them to electric vehicles (EVs) and hybrids, a new study by KPMG has shown. Assuming all costs and features are the same, just 21% of consumers prefer an EV, the inaugural KPMG American Perspectives Survey found. The survey assessed the views of 1,100 adults nationwide to understand their outlook
Nasdaq NEW YORK – The U.S. government could delay a decision on giving electric vehicle (EV) manufacturers tradable credits under a renewable fuel scheme, due to concern about legal challenges to the plan, two sources familiar with the matter said. The plan would have given EV automakers such as Tesla TSLA.O credits for charging vehicles using power generated from renewable natural gas,
Fox Business U.S. President Joe Biden will rely on ally countries to supply the bulk of the metals needed to build electric vehicles and focus on processing them domestically into battery parts, part of a strategy designed to placate environmentalists, two administration officials with direct knowledge told Reuters. The plans will be a blow to U.S. miners who had hoped
Reuters WASHINGTON – The Biden administration wants to spend $174 billion to boost electric vehicles and charging stations but its 2030 climate emissions reduction pledge released on Thursday does not include a firm date to phase out gasoline-powered vehicles. “These autos are coming. We know it. It is the future,” White House climate adviser Gina McCarthy said of EVs at
Reuters BEIJING – The global lead-acid battery industry is worth about $65 billion annually, but when used batteries are recycled, the process has been identified as the most polluting in the world. The lead metal value from smelters that mainly recycle used batteries, is expected to be $17.5 billion in 2021, according to Wood Mackenzie principal lead analyst Farid Ahmed.
CNBC Electric vehicles will play a critical role in Royal Dutch Shell’s efforts to cut emissions, according to a senior executive at the oil giant. “If you look at the decarbonization opportunities of this mobility sector, EV plays a crucial role,” said Huibert Vigeveno, downstream director at Shell, adding that the company intends to expand its global electric vehicle charging stations network
Reuters WASHINGTON – President Joe Biden’s vast infrastructure plan includes $174 billion to boost the markets for electric vehicles and billions more for renewable power – both provisions aimed at weaning the U.S. off of fossil fuels and combating climate change. The $2 trillion plan, which also seeks to invest in traditional projects like roads and bridges, is a centerpiece
Reuters LONDON – The battery metals are back. Both lithium and cobalt markets spent the last two years absorbing the glut of supply that followed the price boom of 2017-2018. Low prices and turgid trading conditions caused producers collectively to slam the breaks on expansion plans. Both metals, however, have jumped back to life in 2021, with prices rallying
Reuters During several days of brutal cold in Texas, the city of Austin saw its fleet of 12 new electric buses rendered inoperative by a statewide power outage. That problem will be magnified next year, when officials plan to start purchasing electric-powered vehicles exclusively. The city’s transit agency has budgeted $650 million over 20 years for electric buses and a
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