Investors have abandoned oil at warp speed so far this year as futures prices have fallen to record lows. Even as oil has bounced from its record trough in April, investors remain skeptical about the chances for sustained value appreciation.
Why it matters: "Typically, oil price fluctuations have a small aggregate impact on US growth, with roughly offsetting effects from the energy capex and consumption channels," Paul Choi, biotechnology analyst at Goldman Sachs, writes in a note to clients.
Economists, investors and environmentalists are calling on the United States — and the world — to inject big clean energy and climate policy into recovery plans.
Reality check: Such prospects face uphill battles almost everywhere, and especially in the United States, where proponents are on defense while the Trump administration and lawmakers are in crisis mode.
Tesla filed a federal lawsuit Saturday in a bid to restart operations in its factory in Fremont, California — a step that came on the same day CEO Elon Musk threatened to move the company's headquarters out of the state.
Driving the news: The electric automaker's suit against Alameda County calls local officials' refusal to allow the factory to reopen a "power grab" that defies Gov. Gavin Newsom's policies on industry operations and constitutional due process rights.
