Electric vehicles: This is an interesting post about oil and electric cars from the head of Canada's Arc Energy Research Institute.
Peter Tertzakian suggests that EVs could be having an outsized impact on investment in the oil industry compared to how niche a market they are and how robust the world's oil thirst remains.
"EV mania is affecting the psychology of investors who finance oil assets, services and infrastructure," he argues. He sees two dueling potential outcomes:
- "[T]ightening of capital will clean out oil's inefficient producers," encouraging oil industry innovation in tech and cost-cutting that keeps oil prices low with plenty of supply.
- Shrinking investment will create oil supply constraints that drive up oil prices and thereby speed the rate of EV adoption.
Lobbying: AECOM, a big engineering company with Energy Department contracts, added both the S-3 group and the Alpine Group (filings here and here) to its stable of outside lobbyists.
Areva Nuclear Materials also tapped the S-3 Group, a firm with a number of former GOP aides, for lobbying on "funding for the mixed oxide project in FY18 Energy and Water Appropriations Bill" and the NDAA.
Oil markets: The Financial Times breaks down the International Energy Agency's latest monthly oil market snapshot, highlighting the finding that OPEC's compliance with its supply cutting plan waned last month.
Facebook: CEO Mark Zuckerberg toured an oil patch in Williston, North Dakota, and wrote about it here. Reuters has details of his visit here.