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Biden authorizes release of more than 180M barrels of oil from Strategic Petroleum Reserve; 1M bpd for 6 months

Green Car Congress

In an effort to address the rapidly increasing cost of gasoline, President Biden authorized the release of 1 million barrels of oil per day for the next six months—more than 180 million barrels—from the Strategic Petroleum Reserve (SPR). million barrels of sweet and 200,000 barrels of sour crude oil.

Oil 418
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Rhodium Group estimates US GHG emissions rose 1.3% in 2022

Green Car Congress

Despite efforts to continue stimulating the US economy in the wake of the pandemic, high inflation put a damper on economic growth, which was exacerbated by a spike in oil prices as a result of Russia’s invasion of Ukraine. Consequently, the US economy grew 1.9% in 2022, down from a 5.7% GDP increase in 2021. and 1.5%, respectively.

Emissions 273
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Tesla is experiencing order rate increases in the U.S. because of soaring gas prices: report

Teslarati

AAA data suggests the average cost of a gallon of gas is currently $4.318, up nearly 60 cents since last week and nearly $1.50 The increase in gas prices has been fueled by the crisis between Ukraine and Russia. gas and oil production. need to increase oil and gas production.

Gas 145
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Tesla holds highest average transaction price increase in 2022, Musk warns of ‘inflation pressure’

Teslarati

Tesla and SpaceX are experiencing substantial “inflation pressure,” according to CEO Elon Musk, who hinted toward potential price increases for his electric automotive company’s products in the coming months. KBB data displayed the average transaction cost of every major automaker in January and February 2022.

Price 98
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Opinion: Oil Market ShowdownCan Russia Outlast The Saudis?

Green Car Congress

November 27, oil consuming countries will celebrate the first anniversary of the Saudi decision to let market forces determine prices. Subsequently, to defend market share, the Saudis increased production, which exacerbated market oversupply and further pressured prices. and EU Ukraine-related economic and financial sanctions.

Russia 150
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War in Ukraine: We Need to Talk About Fossil Fuels

Cars That Think

He took the first step in Crimea in 2014 , and in the early morning hours of 24 February he ordered a large-scale invasion of Ukraine. Russia is the world’s second largest producer of crude oil, behind the United States and ahead of Saudi Arabia, and its second largest exporter, behind Saudi Arabia.

Ukraine 128
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Drones That Can Fly Better Than You Can

Cars That Think

We want to make that available to anybody using one of our products, even if they’re not an expert pilot, and even if they’re not at the controls when it’s flying itself. I mean, one sort of mental model that I think about for the long-term direction of the products is looking at what birds can do. Scaramuzza: Yes. Bry: Definitely.