Environment

In this article XOM Exxon Mobil CEO Darren Woods warns that an abrupt transition to renewable energy will cause society to “pay a high price.” The national average price for a gallon of gasoline is currently nearly $5, causing strife for all drivers, according to AAA. In an interview with CNBC’s David Faber, Woods cautioned

A section of the NECEC corridor in Johnson Mountain Township is covered with straw on Tuesday, November 30, 2021. Crews put down the straw for erosion control. Portland Press Herald | Portland Press Herald | Getty Images For the past six years, energy companies and Maine residents have been in a fierce stand-off over the

In this article XOM Even Exxon Mobil thinks electric vehicles are the future. The oil giant is predicting that by 2040, every new passenger car sold in the world will be electric, CEO Darren Woods told CNBC’s David Faber in an interview. In 2021, just 9% of all passenger car sales were electric vehicles, including

A bystander uses a Bitcoin ATM in San Salvador, El Salvador, on May 16, 2022. Alex Pena | Anadolu Agency | Getty Images El Salvador bet its economic salvation on bitcoin, but so far the gamble isn’t paying off like President Nayib Bukele hoped it would. The government’s crypto coffers have been cut in half,

President Joe Biden remarks on efforts to lower high gas prices at the Eisenhower Executive Office Building in Washington, D.C. on June 22, 2022. Jim Watson | AFP | Getty Images President Joe Biden has called on Congress to put a three-month federal gas tax holiday in place to help ease the financial pain drivers

In this article VOW3-DE TSLA 7203.T-JP Toyota’s bZ4X electric sport utility vehicle photographed in Chiba Prefecture, Japan, on Feb. 24, 2022. The Japanese automotive giant has issued a safety recall related to the bZ4X’s wheels. Kiyoshi Ota | Bloomberg | Getty Images Japanese automotive giant Toyota issued a safety recall for more than 2,000 of

In this article XOM ExxonMobil is one of the most consequential and profitable companies in U.S. history. For more than a hundred years, the company’s oil and gas have helped power the global economy. But the ExxonMobil of today faces the seemingly opposing priorities of supplying the world with abundant energy and also drastically reducing

Habeck has previously warned the situation is going to be “really tight in winter” without precautionary measures to prevent a gas supply shortage. Picture Alliance | Picture Alliance | Getty Images Germany has declared it is moving to the so-called “alert stage” of its emergency gas plan, as reduced Russian flows exacerbate fears of a

President Joe Biden called on Congress Wednesday to temporarily suspend the federal gas tax, as he tries to quell the rapid surge in prices at the pump. While experts say a suspension could provide some immediate relief, it could also keep demand elevated, thereby exacerbating tight supply. Consumers are getting hit with higher prices everywhere,

A sign reading ‘Kaliningrad’ stands atop the city’s south railway station. Harry Engels | Getty Images Sport | Getty Images A new front in tensions between Russia and NATO has opened up after one of the Western military alliance’s members, Lithuania, banned the transit of some goods coming from Russia to its exclave Kaliningrad on

Fuel prices at a Chevron gas station in San Francisco June 9, 2022. Bloomberg | Bloomberg | Getty Images For months, drivers across the U.S. face have faced eye-popping prices when they fill up their gas tanks. Now, President Joe Biden is weighing a new remedy — a federal gas tax holiday. A gallon of

German Economy Minister Robert Habeck has warned that the situation is going to be “really tight in winter” without precautionary measures to prevent a supply shortage. Ina Fassbender | Afp | Getty Images Reduced flows of Russian gas and the specter of a full supply disruption have prompted some European governments to reconsider coal, one

In this article TSLA F GM Charging port for a Ford Motor Co. Mustang during the Washington Auto Show in Washington, D.C., on Friday, Jan. 21, 2022. Al Drago | Bloomberg | Getty Images More people than ever are buying electric vehicles. There are about 2 million EVs on the road in the U.S., up

In this article DTG-DE TSLA According to Volvo Trucks, fuel cells for the vehicles will be provided by cellcentric, a joint venture with Daimler Truck that was established in March 2021. Tomohiro Ohsumi | Bloomberg | Getty Images Volvo Trucks said Monday that it had begun to test vehicles that use “fuel cells powered by

In this article HOL.N-CH GE IBE-ES SGRE-ES A wind turbine at the Ormonde Offshore Wind Farm, in the Irish Sea. With governments around the world attempting to ramp up their renewable energy capacity, the number of wind turbines worldwide only looks set to grow, which will in turn increase pressure on the sector to find

Tesla Model 3 electric vehicles at a Hertz airport location. Photo by E.R. Davidson Not long after Hertz Global Holdings emerged from bankruptcy last summer, reorganized after the Covid-19 pandemic stalled the entire car rental industry, the Estero, Florida-based company boldly announced a $4.2 billion deal to purchase 100,000 Tesla fully electric vehicles (EVs) by

Bitcoin plunged to $18,248, and ether fell to $944 as of mid-afternoon on Saturday, as the sell-off in the crypto market accelerates. The world’s two most popular cryptocurrencies are down more than 35% in the past week, as both breach symbolic price barriers. Carnage in the crypto market is partly to do with pressure from

Francesco Carta Fotografo | Moment | Getty Images Carnage in the crypto market won’t let up, as token prices plummet, companies lay off employees in waves, and some of the most popular names in the industry go belly up. The chaos has spooked investors, erasing more than $2 trillion in value in a matter of

We’re buying 25 shares of Constellation Brands (STZ) at roughly $228 each. In addition, we are buying 15 shares of Pioneer Natural Resources (PXD) at roughly $240 each. Following Friday’s trades, the portfolio will own 330 shares of STZ – increasing its weighting to 2.79% from 2.58%, and 190 shares of PXD — increasing its

Gazprom’s Miller says he sees no solution to an ongoing equipment issue at part of the Nord Stream 1 pipeline. Anadolu Agency | Anadolu Agency | Getty Images LONDON — An ominous warning from Russia’s state-backed energy giant Gazprom has stoked fears of another turbulent winter for European gas supplies. As a pre-summer heatwave hits