Tesla to Pause Plans for a Mexican Plant, Impacting Mexico's Nearshoring Appeal
Tesla’s CEO, Elon Musk, said his company...
Tesla’s CEO, Elon Musk, said his company will pause developing a $5 billion Giga factory in Santa Catarina, Nuevo León, in Mexico until after the U.S. presidential elections.
Tesla picked the northern industrial state for cost reasons, including workforce availability and the presence of key parts suppliers. The decision impacts Tesla’s ability to produce lower-cost electric vehicles (EVs) for export to the U.S. market.
“We currently are paused on Giga Mexico. We need to see where things stand after the election,” Musk said on July 24 during the company’s second-quarter 2024 webcast in response to an analyst’s question.
Underexplored Permian zones emerge into drilling hotspots
Less-explored Permian Basin areas such as the Barnett Shale and Woodford...
Less-explored Permian Basin areas such as the Barnett Shale and Woodford Formation are drawing increased attention from operators seeking new drilling locations amid dwindling premium inventory. Drilling and permitting activity in these frontier zones has surged since the COVID-19 downturn, with companies such as Occidental Petroleum and ConocoPhillips leading the pack, according to Railroad Commission of Texas data.
Upstream mega-mergers squeeze US oilfield services firms
US oilfield services companies are under pressure to cut prices or consolidate...
US oilfield services companies are under pressure to cut prices or consolidate to survive as the dealmaking spree in the exploration and production sector shrinks their customer base. "As the industry consolidates across the board, you will see these bigger (producers) working with bigger service companies, so the service companies that have scale will have the advantage over time," said Rystad Vice President Thomas Jacob.
Approximately 25,000 people were forced to evacuate this week from the...
Approximately 25,000 people were forced to evacuate this week from the popular resort town of Jasper, Alberta, in the Canadian Rockies as a blaze ripped through Jasper National Park, causing catastrophic damage, officials said. Meanwhile, wildfires in Oregon, California, and other parts of the Pacific Northwest scorched hundreds of thousands of acres due to strong winds and high temps. Scientists say human-induced climate change has led to more extreme wildfires in recent decades.
Good morning. The tense mood in France ahead of the...
Good morning. The tense mood in France ahead of the Paris Olympics will only worsen. Just hours before the Opening Ceremony later today, the high-speed rail network was hit with coordinated arson attacks that have “severely disrupted” traffic along three train lines, the National Railway SNCF said. It advised travelers to postpone their trips if possible and canceled many trains.
France has deployed the largest peacetime security operation in its history to secure the Olympics, dispatching up to 45,000 police, 10,000 soldiers, and 22,000 private security guards. The Opening Ceremony begins at 1:30pm ET along the Seine River—the first time it’s been held outside of a stadium.
California news: Gov. Gavin Newsom ordered state agencies to clear homeless encampments following June’s controversial Supreme Court ruling. Meanwhile, the state Supreme Court allowed Uber and Lyft to continue treating its drivers as independent contractors.
American Express refreshed its Gold card for the first time since 2018, adding new perks like credits at Dunkin’ and Resy restaurants.
President Biden and Vice President Harris separately met with Benjamin Netanyahu after the Israeli prime minister’s speech to Congress was met with fierce protests. Former President Trump is set to meet with Netanyahu today in Florida.
Warner Bros. Discovery is reportedly suing the NBA in a widely expected move after the league refused its matching bid for TV rights.
The Disney+-Hulu-Max bundle will cost $17 a month with ads and $30 without, a 38% reduction from buying all three streaming services on their own.
Climate activists in Germany glued themselves to runways, forcing the cancellation of 140 flights.
