Arrival, the U.K.-based electric van and bus company, said Wednesday that BlackRock-managed funds are investing $118 million to help fuel its expansion, including plans to build a factory in South Carolina, as first reported by The Wall Street Journal.
Why it matters: It's the latest sign of money pouring into electric vehicle startups.
The International Energy Agency's very long-term outlook released Tuesday offers useful analyses about the cloudy future of the industry and petro-states.
Why it matters: The pandemic's long-term effects and the prospect of future climate policies are together causing a rethink of the sector's financial future.
Joe Biden certainly isn't who the oil industry wants to win the presidential election — as their political spending shows — but he might be the leader the ailing sector needs.
Why it matters: Biden is vowing new emissions regulations and new restrictions on production as part of plans to hasten a transition away from fossil fuels — but what that means for the industry and markets isn't cut and dry, some analysts argue.
The coronavirus pandemic is altering the long-term future of oil, but global thirst for the fuel will nonetheless remain large for decades, the International Energy Agency said a sprawling new report released Tuesday.
Why it matters: Its the IEA's deepest effort yet to game out how COVID-19 is changing the future of oil, and energy systems overall in the years ahead.
President Trump will sign an executive order Tuesday designed to put more weight behind the administration's role in the international One Trillion Trees Initiative, a White House official said.
Why it matters: White House support for the initiative contrasts with Trump's overall climate posture.
The International Energy Agency examined what happens if current and planned fossil fuel infrastructure worldwide is operated through its estimated lifespan.
Why it matters: That alone, it finds, could easily blow past the goal of holding warming to 1.5°C above preindustrial levels. That's the most ambitious and longshot goal of the Paris agreement to lessen harm from climate change.
BP CEO Bernard Looney is leading the biggest transformation in the oil industry’s 160-year history, but he's staying quiet on the thorniest part: the politics.
Driving the news: In our recent interview for “Axios on HBO,” Looney made a scripted case for BP’s big plan to pivot to renewable energy and survive — and even thrive — while doing it.
Three deaths have been linked to former Hurricane Delta, as PowerOutage.us reported over 100,000 customers remained without power in Louisiana on Tuesday morning — four days after the storm made landfall in the state.
Details: Louisiana officials said Sunday a man, 86, died while refueling a generator in a shed that caught fire and a woman, 70, died in a fire "likely caused by a natural gas leak following damage." In the Florida Panhandle, Okaloosa County sheriff's office said a 19-year old Illinois tourist drowned Saturday "after being caught in a rip."
