Oil prices would have to skyrocket above $350 per barrel for electric vehicle makers to make a dent in the auto market, according to a study done by researchers at the University of Chicago. The batteries for electric vehicles cost, on average, about $325 per kWh, which means the price of oil would need to pitch upward by nearly 1,000 percent before Tesla’s auto fleet and the Nissan Leaf would be cheaper than gas-powered vehicles, researchers at the University of Chicago’s Energy Policy [Read more]
Trump Says Fracking Bans Should Be Left To Local Voters
Republican presidential nominee Donald Trump said he personally supports hydraulic fracturing, or fracking, yet believes drilling should be up to local voters to decide. “Well, I’m in favor of fracking, but voters should have a big say in it. Some areas maybe they don’t want to have fracking. And I think if the voters are voting for it, that’s up to them,” Trump told reporters Friday while at a campaign stop in Colorado. “Fracking is something that we need. Fracking is something that’s [Read more]
Clinton Campaign Says A Carbon Tax Not Out Of The Question
Democratic presidential nominee Hillary Clinton is not completely opposed to a carbon tax, her campaign chair said Tuesday. “Right now we’ve not proposed a carbon tax,” John Podesta told an audience Tuesday at a climate change event in Philadelphia during the Democratic National Convention. “We believe we can get the job done. But if Congress wants to come forward with one, we’ll take a look at it.” The Democratic Party included a carbon tax plank in the party platform Tuesday to address [Read more]
Oil Jobs Are About To Come Flooding Back In A Big Way, Financial Analysts Claim
Analysts at Goldman Sachs claimed Thursday the oil industry is on the cusp of a turnaround after oil supply gluts earlier this year wreaked havoc on the industry. As oil fields continues to come back online and the yearlong oil oversupply begins to recover, analysts at financial institution Goldman Sachs argue the oil and gas industry will need to add between 80,000 and 100,000 employees just to keep up with demand by 2018. The increase in growth would also require an additional 700 [Read more]
Energy CEO Says ‘Enough Is Enough’ In Obama’s ‘All-Out War On Fossil Fuels’
The leader of one of the largest energy producers in the country blasted the Obama administration Monday for carrying out an “all-out war on fossil fuels.” “The all-out war on fossil fuels waged by this White House over the last eight years has reached tsunami proportions in terms of new regulations being proposed,” Greg Goff, CEO of oil refinery Tesoro, said at the Energy Information Administration’s annual conference in Washington. “Increasingly, views on our industry are polarized along [Read more]