Energy
Tesla Has Q1 Profit, Ford and Rivian Scrap Plans to Build EVs

Tesla Has Q1 Profit, Ford and Rivian Scrap Plans to Build EVs

CNBC reported yesterday that despite factory closures in China and the U.S., Tesla managed to eke out $16M in profit in the first quarter of the year, but it remains unclear how quickly its U.S. car plant and suppliers can ramp up production once it re-opens from Covid-19 restrictions

Why This Matters: The COVID pandemic is a setback for many industries — but particularly ones working to get off the ground like electric vehicle manufacturing.

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Europe Pushes for Green Stimulus, Will Congressional Republicans Finally See the Light?

Europe Pushes for Green Stimulus, Will Congressional Republicans Finally See the Light?

Speaking ahead of a virtual meeting of 30 nations, Germany and Britain’s environment ministers said Monday that efforts to revive the global economy in the wake of the coronavirus pandemic must ensure a ‘green recovery’ that helps the world tackle climate change, according to AP. The ministers emphasized the importance of economic recovery programs to invest […]

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Big Flares, Big Bankruptcy, Big Relief?  Oil Sector Experiencing “Tectonic Shift”

Big Flares, Big Bankruptcy, Big Relief? Oil Sector Experiencing “Tectonic Shift”

A study by researchers at Harvard and the Environmental Defense Fund published yesterday in the journal of Science Advances found that ail and gas operations in the Permian Basin of Texas are flaring off more than twice the amount of methane emissions than previously estimated, according to CBS News. 

Why This Matters:  Several industry analysts continue to paint a dark picture for the future of the oil and gas industry.

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Renewables Top Coal, Oil Markets “Officially Broken” According to Industry Analysts

Renewables Top Coal, Oil Markets “Officially Broken” According to Industry Analysts

The winds are shifting — literally and figuratively — in U.S. energy, as the oil industry is declared “officially broken” due to a historic glut in supply, while renewable energy output continues to grow as coal power shrinks. 

Why This Matters:  Happy Earth Day.  We don’t mean this acclamation to denigrate the industry that gave our country affordable energy or to say the pandemic has been a good thing.  Hardly.  But it seems that the times are now changing.

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How Low Can It Go??  Oil Futures In Unprecedented Negative Territory

How Low Can It Go?? Oil Futures In Unprecedented Negative Territory

The oil markets on Monday plunged to their lowest price ever — meaning oil and gas suppliers are paying people to take the oil that would reach the market by the end of May (you read that right.)  At the end of the day, oil futures prices closed at negative $37.63, the lowest price since the New York Mercantile Exchange began trading them in 1983.

Why This Matters:  The oil and gas markets are subject to lots of ups and downs — but this was — that word again — unprecedented.

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Energy Down: Clean Energy Job Losses Total 106,000 and Texas Weighs Oil Production Cuts

Energy Down: Clean Energy Job Losses Total 106,000 and Texas Weighs Oil Production Cuts

More signs emerged of deep trouble for the energy sector.  Clean energy companies shed 106,000 jobs in March according to an industry analysis of figures from the Labor Department’s tally of unemployment claims.  And on Tuesday, the Texas agency that regulates the oil and gas industry held a public hearing to consider whether the industry should cut production to keep oil prices from falling further, a drastic step aimed at preventing a slew of bankruptcies and permanent job losses.

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