The S & P 500 will wrap up the fourth quarter this week and is on track to gain about 5.5% over the three-month period from October through December, as of the close on Wednesday, Dec. 28. The positive performance represents the only quarter of gains in 2022, breaking what had been the longest losing
Month: December 2022
Oil ended a volatile year modestly higher as investors look ahead to a potential rebound in Chinese demand next year. West Texas Intermediate futures staged a last-minute rally in the final session of the year to settle above $80, marking a 4% annual gain. The finish was a far cry from the triple digits seen
By Johnna Crider Posted on December 29, 2022 Tesla has had quite a phenomenal year in 2022. As the year comes to a close and we move into 2023, it’s great to step back and take a look at Tesla’s progress. Tesla shared a thread on Twitter thanking its supporters, employees, and customers for helping
Polestar (PSNY) has been executing all year, and according to CEO Thomas Ingenlath, the hard work is paying off – the company just surpassed its electric vehicle delivery goal for 2022. Polestar hits 50,000 electric vehicle delivery goal If you’re seeing more Polestar EVs on the road, it’s not just you. The automaker has been
U.S. President Joe Biden holds out his pen to U.S. Senator Joe Manchin (D-WV) as Senate Majority Leader Chuck Schumer (D-NY) and U.S. House Majority Whip James Clyburn (D-SC) look on after Biden signed “The Inflation Reduction Act of 2022” into law during a ceremony in the State Dining Room of the White House in
Three associations, the American Petroleum Institute (API), the Asociación Mexicana de Empresas de Hidrocarburos (AMEXHI) and the International Association of Oil & Gas Producers (IOGP), have strengthened their cooperation through a new memorandum of understanding. The MoU will see the trio cooperate on helping to enhance operational performance across North American natural gas and oil
By Johnna Crider Posted on December 28, 2022 A Tesla employee who left Rolls-Royce is returning to the legacy automaker in what he described as one of the toughest decisions of his life. Niklas Lohse left Rolls-Royce after eleven years to work for Tesla. In a LinkedIn post, Lohse described the decision to return to Rolls-Rouse
A worker walks past gas pipes that connect a Floating Storage and Regasification Unit ship with the main land in Wilhelmshaven, northern Germany on December 17, 2022. EU energy ministers are wrangling over a proposed price cap on gas. Michael Sohn | Afp | Getty Images LONDON — European natural gas prices fell this week
Oil prices may not have as wide a swing in 2023 as they had in 2022, but the market will still remain volatile and risks price shocks as much from economic developments as geopolitical ones, energy analysts say. One of the biggest wild cards for markets in general is the economic reopening of China as
Solstad Offshore has been able to book work for the CSV Normand Maximus to the tune of $50.8 million. The company has received Letters of Award from a number of undisclosed subsea contractors for the hire of the vessel throughout 2023. The projects have a combined duration of minimum of 200 days plus additional option
By Johnna Crider Posted on December 27, 2022 Tesla owners in Europe took delivery of the Plaid Model S and X vehicles on the days leading up to the Christmas holiday. In August, European reservation holders for the Tesla Model X and Model S Plaid vehicles shared that they received delivery updates from Tesla. Tesla’s
Canoo (GOEV) is accusing several former employees of “corporate espionage,” alleging they stole trade secrets to launch a rival electric vehicle company. Canoo was founded in 2017 to improve vehicle ownership with its breakthrough electric vehicles. A significant part of Canoo’s strategy revolves around its Multi-Purpose Platform (MPP), which serves as the base for its
Russia’s announcement of an oil export ban on countries that abide by a G-7 price cap is the latest sign that we’ve entered a new era for global energy markets, according to analysts. But they also note it’s unlikely to have a short-term impact on oil prices, with markets taking their cues from data and
Tamboran Resources has drilled the Amungee 2H well in EP98 in the Beetaloo Basin, Northern Territory, Australia, to a total depth of 12,739 feet encountering significant gas shows. The well included a 4,183-foot horizontal section, placed in the most prospective zone within the Mid-Velkerri “B Shale” formation. The A2H well has been drilled and cased
By Simon Alvarez Posted on December 26, 2022 Tesla China has shared a response addressing the reported shutdown of Gigafactory Shanghai’s production. The EV maker’s comments came amidst mainstream media reports claiming that Giga Shanghai has suspended production since Saturday. Over the weekend, Reuters noted that Gigafactory Shanghai had canceled its morning shift. The publication also claimed
Seadrill Limited has signed a deal to acquire Aquadrill in an all-stock transaction worth $985 million. Upon completion of the transaction, Seadrill shareholders and Aquadrill unitholders will own 62 percent and 38 percent, respectively, of the outstanding common shares in the company. The combination creates an industry-leading offshore drilling company, with a modern and high-specification
By William Johnson Posted on December 23, 2022 A Ford F150 Lightning and a Kia Niro EV are being used to power a dealership in Northern California after a recent earthquake. After a significant earthquake damaged and disrupted infrastructure in Northern California earlier this week, electric vehicles with vehicle-to-load technology were brought to supplement power
Facing rising electricity costs that climbed to around $6,000 a year, one winemaker decided he had had enough. Joseph Evans first installed a solar energy system to power his entire property while the sun was out. However, he wanted to take it a step further. So, he started using his Nissan LEAF with vehicle-to-grid (V2G)
Investors with combined assets of $1.4 trillion have demanded the world’s biggest oil companies take swifter action to cut greenhouse gas emissions. This year has seen record profits for Big Oil as countries emerged from Covid lockdowns, boosting energy consumption and prices as supplies tightened. The companies bolstered shareholder payouts in response. Many investors have in
By William Johnson Posted on December 23, 2022 Porsche has upgraded the Porsche Taycan’s onboard charger and has cut its charging time in half. While the Porsche Taycan has grown its notoriety for being the EV for more traditional performance enthusiasts, its battery specs have lagged behind competitors like Tesla and Lucid. Most notably, the
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