The effort by a bipartisan pair of senators to try again to pass energy efficiency legislation got a boost Tuesday, when a leading advocate for the Keystone XL pipeline said he won't try to use the bill to push language favoring the controversial project.
Sen. John Hoeven, R-N.D., told reporters he does not want to use the measure to seek a Senate vote on the proposed $5.4 billion oil sands pipeline, even as it potentially faces months of additional delays over a court ruling in Nebraska.
DETROIT (AP) — The Tesla Model S electric sedan is Consumer Reports' top pick in this year's automotive rankings.
The magazine cited the Model S's sporty performance and technological innovations, including its 225-mile range. But it acknowledged that the car is expensive. Consumer Reports paid $89,650 for the Model S it tested.
For less than a third of that price, the Toyota Prius hybrid got the nod as Consumer Reports' top green car. The magazine also cited strong fuel economy in naming the Honda Accord as the top midsize car and the BMW328i as the best sports sedan.
NEW YORK (AP) — Shares of Tesla Motors Inc. surged Tuesday after a Wall Street analyst told investors that Tesla could shake up the electric utility sector as well as the auto industry.
Analyst Adam Jonas of Morgan Stanley wrote in a note to investors that Tesla could nearly double its share of the global car market by 2028. And it also could create another lucrative business by building battery packs for energy storage. He doubled his target price for Tesla stock to $320 per share from $153.
Automakers including Hyundai and Toyota plan to bring hydrogen-powered cars to California and Europe to get emissions credits, but purchasers will face the challenge of where to fuel them, The Wall Street Journal reports.
Short-covering and the expiration of the front month contract helped power oil prices to a huge gain Friday. West Texas Intermediate crude for January delivery shot up 5 percent, or $2.41, to settle at $56.52 a barrel on the Nymex, while in London February Brent finished $2.11 higher at $61.38, Reuters reports.
Oilfield services company Baker Hughes reported Friday that 1,875 rigs were drilling for oil and gas in the U.S. this week, a drop of 18 and the second week in a row that the number has fallen, FuelFix reports.
Comparing present-day statistics with numbers during the oil bust in the mid-1980s has led JP Morgan Chase economist Michael Feroli to warn that Texas could slip into a regional recession next year, FuelFix reports.
Job losses in the power generation sector over the past three years topped 5,800, according to data released by the Energy Information Administration Friday, which said all parts of the industry were affected other than renewable energy, The Hill reports.
Avenue Capital, the hedge fund run by Marc Lasry that specializes in buying distressed companies’ debt, is raising $750 million for a fund that will focus on the energy sector, according to the Pennsylvania Public School Employees’ Retirement Board, which confirms it has put in $200 million, the New York Post reports.
Tesla is testing the market for battery swaps: Near California supercharging stations where Model S owners can top up their batteries for free, the company is creating a facility where drivers can pay a cost equivalent to a tank of gasoline and get a fully-charged battery installed in three minutes, The Wall Street Journal reports.
The growth of global carbon emissions slowed in 2013 -– although the total of 35.3 billion tons did set a record -- and the rate of increase tailed off despite an uptick in economic activity, says a report from the European Commission’s Emissions Database for Global Atmospheric Research, or EDGAR, according to E&E.
INEOS hopes to get commercial shale gas production under way in Britain before the end of the decade, according to documents the government released Friday, which detailed the company’s presentation to the Department of Energy and Climate Change in February, Platts reports.