IEA: EV Growth Could Displace Up to 12 MMbbl/d by 2035
A rapid uptick in electric vehicle (EV) usage—especially in the U.S.,...
A rapid uptick in electric vehicle (EV) usage—especially in the U.S., the EU and China—could displace up to 12 MMbbl/d of oil demand by 2035, the International Energy Agency (IEA) said in a new June 21 report reflecting its most optimistic climate goals scenario.
Policy developments, such as new emissions standards adopted in the past year by the U.S., Canada and the EU, continue to support expectations for rapid electrification.
U.S. stocks ended mixed on Monday while Nvidia Corp. entered correction...
U.S. stocks ended mixed on Monday while Nvidia Corp. entered correction territory as the chip maker's selloff continued.
According to preliminary closing data from FactSet, the Dow Jones Industrial Average finished roughly 0.7% higher, posting a five-day winning streak. The S&P 500 closed about 0.3% lower, and theNasdaq Composite ended about 1.1% lower, as AI darling Nvidia’s slide raised concerns about whether the tech rally will continue.
The S&P 500 and the Nasdaq Composite are now in a three-session losing streak.
Nvidia’s shares ended roughly 6.7% lower on Monday, with the stock officially entering a correction — typically defined as a drop of between 10% and 20% from a bull-market high.
Nvidia’s shares closed at an all-time high of $135.58 less than a week ago, which was enough to grant the company status as the largest in the U.S. by market capitalization for one day.
Calif. startup turns methane into graphite, hydrogen
A California startup has developed a way to produce graphite and hydrogen...
A California startup has developed a way to produce graphite and hydrogen from natural gas using pyrolysis. Molten Industries says its technique not only reduces emissions by breaking down methane without producing CO2, it also offers a cost-effective alternative to traditional graphite production.
First petrochemical plant in US Arctic planned for Alaska
A proposed facility in Alaska's Prudhoe Bay would produce methanol and...
A proposed facility in Alaska's Prudhoe Bay would produce methanol and ultra-low-sulfur diesel from North Slope natural gas, water and carbon dioxide, reducing the region's reliance on imports of the two chemicals and supporting economic development while contributing to emissions cuts. The North Slope Borough has endorsed state financing for the Alyeschem plant, which would be the first petrochemical facility in the US Arctic.
Slew of hurdles slow Mexico's gas export ambitions
Regulatory hurdles and delays are hindering Mexico's efforts to boost...
Regulatory hurdles and delays are hindering Mexico's efforts to boost imports of natural gas sourced primarily from the US, which in turn is affecting Permian Basin producers reliant on the Mexican market. Further complicating matters is environmental groups' legal challenge to the US approval of Oneok's 2.5-Bcf/d Saguaro Connector Pipeline, which would connect Texas' Waha Hub with a new Mexican pipeline meant to supply Mexico Pacific's proposed Sonora LNG export plant.
