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Government, Business, Fuel

Oil Jumps to One-Year High on Depleting Supplies

Tanker trucks sit in front of storage silos in Sunray, Texas Tanker trucks sit in front of storage silos in Sunray, Texas. (Angus Mordant/Bloomberg News)

Oil climbed to the highest level in over a year as tightening global supplies and signs of strength in physical markets aided crude’s virus-recovery rally.

Andres Guerra Luz | Bloomberg News
February 2, 2021
Business, Fuel

Exxon Defends Giant Dividend After First Annual Loss in Decades

Exxon logo Spencer Platt/Getty Images

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February 2, 2021
Business, Fuel

Volvo Group, Natso Add Plans for Greater Electric Deployments

Volvo A VNR Electric truck. (Volvo Truck North America)

Truck maker Volvo Group and the travel plaza trade group Natso separately announced additional steps to ensure they assist in the infrastructure development and broader deployment of electric trucks.

Roger Gilroy | Senior Reporter
February 2, 2021
Government, Fuel

Diesel Increases 2.2¢ to $2.738 a Gallon

Trucks fueling at a truck stop The price of diesel increased in each region surveryed by the Energy Information Administration. (John Sommers II for Transport Topics)

The nationwide average price of diesel fuel rose 2.2 cents to $2.738 a gallon, according to Energy Information Administration data released Feb. 1.

Connor D. Wolf | Staff Reporter
February 1, 2021
Business, Fuel

Coal to Exit US Power System by 2033, Morgan Stanley Says

Metallurgical coal is loaded onto a barge in Ceredo, W.Va. (Luke Sharrett/Bloomberg News) Metallurgical coal is loaded onto a barge in Ceredo, W.Va. (Luke Sharrett/Bloomberg News)

Coal is on track to disappear from the U.S. power grid by 2033 as the push for a carbon-free electricity system gains strength, according to Morgan Stanley.

Will Wade | Bloomberg News
February 1, 2021
Business, Technology, Fuel

Battery Maker Microvast Agrees to Merger With Tuscan SPAC

charging point symbol Bloomberg Creative Photos/Bloomberg

Battery maker Microvast Inc. will go public via a merger with blank-check company Tuscan Holdings Corp. in a deal that values the combined company at $3 billion.

Crystal Tse and Gillian Tan | Bloomberg News
February 1, 2021
Government, Business, Fuel

Biden Revokes Oil Drilling Permits for Additional Review

A truck passes a horizontal drilling rig in Lea County, N.M. A truck passes a horizontal drilling rig in Lea County, N.M. (Callaghan O'Hare/Bloomberg News)

The Biden administration is revoking dozens of invalid drilling permits issued by agency workers without the approval of political appointees, despite a temporary order for such reviews.

Jennifer A. Dlouhy | Bloomberg News
January 29, 2021
Business, Technology, Fuel

GM Sets Goal of Going Largely Electric by 2035

A Chevrolet Bolt vehicle sits on the assembly line at GM's plant in Orion Township, Mich. A Chevrolet Bolt electric vehicle sits on the assembly line at GM's plant in Orion Township, Mich. GM has said it would take an aggressive approach to electric vehicle production in the coming years. (Jeff Kowalsky/Bloomberg News)

General Motors Co. has set a goal of making the vast majority of the vehicles it produces electric by 2035, and the entire company carbon neutral, including operations, five years after that.

Michelle Chapman | Associated Press
January 28, 2021
Business, Fuel

Pilot Co. Unit to Buy Ethanol Plant With Sights on Recovery

Pilot Co.'s GreenAmerica Biofuels is purchasing a 65-million gallon ethanol plant. Pilot Co.'s GreenAmerica Biofuels is purchasing a 65-million gallon ethanol plant. Corn is a common base for the biofuel. (Shannon VanRaes/Bloomberg News)

A unit of truck stop chain Pilot Co., which is partly owned by Warren Buffett’s Berkshire Hathaway Inc., is buying an ethanol plant just as the beleaguered industry may be turning around.

Kim Chipman | Bloomberg News
January 28, 2021
Government, Business, Safety, Fuel

Biden Directs Agencies to Address Climate Change

Michigan flood Water overflows the Tittabawassee River in Midland, Mich., on May 20, 2020. (Carlos Osorio/File/AP)

New directives approved by President Joe Biden in response to climate change set in motion an extensive environmental agenda throughout federal agencies while rolling back Trump-era guidance on permitting.

Eugene Mulero | Senior Reporter
January 28, 2021

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