Pricingis one reason why wringing carbon emissions out of transportation is hard: Automakers have incentives to sell lots of big vehicles that don't get very good mileage. And they're what consumers want.
The big picture: The average price for new light trucks, a category that includes pickups and SUVs, was 43% higher in 2019 than the average for cars, per this new Energy Department analysis of Commerce data.
Fresh U.S. government projections of U.S. oil production underscore how it will be a long time before the country again reaches its record pre-pandemic output — if ever.
Why it matters: The Energy Information Administration's outlook published Tuesday provide the first glimpse at where they see U.S. output in 2022 — at a substantial, but nowhere near complete, recovery.
Electric bus company Proterra on Tuesday became the latest EV player to announce it's going public via a merger with a special purpose acquisition company.
Driving the news: The deal with ArcLight Clean Transition Corp. values Proterra at $1.6 billion. Proterra builds buses and also provides battery systems and other products for heavy electric vehicles.
The COVID-19 pandemic led to an estimated — and unprecedented — 10.3% drop in U.S. greenhouse gas emissions last year, per a preliminary analysis from the Rhodium Group.
Why it matters: It's by far the single largest annual drop in the post-World War II era and puts U.S. emissions 21.5% below 2005 levels.
General Motors is launching a new business unit devoted to electrifying the goods delivery market and says package giant FedEx will be the first customer.
Why it matters: Big automakers and startups alike see a huge opportunity.
