Crude oil production in the U.S. continues to push higher approaching the mythical 10-million-barrels-per-day mark, a level that has never been achieved. The rise in production has resulted in a decline in the price of oil and gasoline.
According to the 2016 report titled, “Minority and Female Employment in the Oil & Natural Gas and Petrochemical Industries, 2015-2035” by IHS Global prepared for API, “nearly 1.9 million direct job opportunities are projected through 2035 in the oil and natural gas and petrochemical industries” and “African Americans and Hispanics will account for over 80 percent of the net increase in the labor force from 2015 to 2035.”
A new American Petroleum Institute study concluded that many of tomorrow's best-paying careers, including those in the oil and natural gas industry, will require training or education in a STEM discipline, and highlighted opportunities for women and minorities. Today API unveiled the report during an event at George Washington University in partnership with the Joint Center for Political and Economic Studies.
Last month, the U.S. International Trade Commission recommended that President Donald Trump implement new tariffs on imported solar cells and modules, the Wall Street Journal reported Nov. 13. Cells are the components of solar modules, or panels, that produce electricity. Supporters say new tariffs on solar cells and modules are needed to save the remaining U.S. manufacturers and allow production in the U.S. to grow, the Journal reported.
A Silicon Valley company did something exciting last week, and for once it involved something more significant than a new app to help us kill time on our smartphones. Tesla, the company that already is making electric cars, unveiled a prototype electric-powered semitrailer that can go 500 miles on a single battery charge and is powerful enough that it goes 65 mph up steep hills.
With the House of Representatives having passed its tax reform plans and the Senate having released its version, the uncertainty around the basic existence of the federal EV tax credit, as evidenced by the difference between the two proposals, will be disruptive to the industry. It’s this uncertainty that leads everyone to a fundamental question: If the government chooses to end EV tax credits, will that affect the EV market overall? The answer is yes.
Electric vehicle advocates caught a glimmer of hope in the US last week when it was reported on November 9 that the Senate version of a revised tax plan would keep the federal EV tax credit intact. The House of Representatives tax plan released previously, however, would end the federal EV tax credit.
The auto industry is getting ready to plug into battery power in a big way. In recent months, virtually every major automaker has announced some form of “electrification” and, by the middle of the coming decade, conventional hybrids, plug-in hybrids, and pure battery-electric vehicles could account for nearly one-third of all new vehicle sales -- even more if California regulators ban the internal combustion engine entirely, as they’re now considering.
Amazon today announced that its largest wind farm yet--Amazon Wind Farm Texas--is now up and running, adding more than 1,000,000 MWh of clean energy to the grid each year. Amazon has launched 18 wind and solar projects across the U.S., with over 35 more to come. Together, these projects will generate enough clean energy to power over 330,000 homes annually.
China’s intellectual property theft, which involves industries from biotechnology to communications to steel manufacturers and more, cost the American economy hundreds of billions of dollars each year. It should come as no surprise that the Red Dragon is looking at the nascent American fuel cell industry.