Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!
Reproduced from Rhodium Group; Note: Low and high estimates based on COVID-19 trajectory and recovery; Chart: Axios Visuals

Electric trucks have the potential to displace enough oil to make a "significant dent" in transportation sector CO2 emissions, per a Rhodium Group analysis.

Why it matters: There's lots of buzz — and a lot of money — around electric trucks these days.

  • It estimates the long-term effects of a recent 15-state nonbinding pact to bolster the use of zero-emissions heavy trucks and other medium- and heavy-duty vehicles.
  • California, one of the states, also recently approved mandatory regulations on greatly increasing zero-emissions truck sales between 2024 and 2045.
  • The study also explores the impact if these state efforts were transformed into a nationwide mandate, which would mean more than half the U.S. medium- and heavy-duty fleet would be electric by 2045.

What they found: "If the [15-state] MOU were expanded nationally, the impact would increase six-fold. By 2035, cumulative oil demand would fall by 806 to 843 million barrels, expanding to 4.6 to 4.9 billion barrels by 2045," Rhodium finds.

  • "The long-term effect of expanding California’s approach nationally would reduce oil consumption in 2045 by 16 to 17%," the Aug. 13 analysis notes.

What we're watching: How a potential Joe Biden administration would seek to curb emissions from big trucks.

  • His plan calls eventually having 100% of medium-duty vehicle sales come from electric models, and "annual improvements" in the heavy-duty sector.
  • The analysis also comes as more electric trucks are coming into the market.

Go deeper: States team up in push for electric heavy vehicles

Go deeper

GM abandons Trump lawsuit against California over emissions standards

General Motors CEO Mary Barra speaks at GM headquarters June 12, 2018 in Detroit, MI. Photo: Bill Pugliano/Getty Images

General Motors will pull out of any legal efforts that seek to strip California of its right to set its own clean-air standards, GM CEO Mary Barra said in a letter Monday to environmental groups, per AP.

Driving the news: Barra said the company, which is developing a new battery chemistry that will reduce the costs of electric-vehicle, agrees with President-elect Joe Biden’s plan to expand the use of electric vehicles, AP reported.

Salesforce rolls the dice on Slack

Illustration: Sarah Grillo/Axios

Salesforce's likely acquisition of workplace messaging service Slack — not yet a done deal but widely anticipated to be announced Tuesday afternoon — represents a big gamble for everyone involved.

For Slack, challenged by competition from Microsoft, the bet is that a deeper-pocketed owner like Salesforce, with wide experience selling into large companies, will help the bottom line.

FBI stats show border cities are among the safest

Data: FBI, Kansas Bureau of Investigation; Note: This table includes the eight largest communities on the U.S.-Mexico border and eight other U.S. cities similar in population size and demographics; Chart: Naema Ahmed/Axios

U.S. communities along the Mexico border are among the safest in America, with some border cities holding crime rates well below the national average, FBI statistics show.

Why it matters: The latest crime data collected by the FBI from 2019 contradicts the narrative by President Trump and others that the U.S.-Mexico border is a "lawless" region suffering from violence and mayhem.