Tesla won a contract with the state of Texas among a series of victories that will likely pave the way in making the electric vehicle (EV) maker’s charging technology the dominant standard for powering electric vehicles in the United States. Texas announced on June 20 that it would require EV charging companies to include both…
Texas Requires State Charging Stations to Include Tesla’s Plug in Another Victory for Musk
June 21, 2023
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‘Sustainable Jobs’ Transition Sparks Fear of Oil and Gas Industry Phase-Out
June 21, 2023
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Ottawa is proposing a major workforce shift toward a net-zero economy, calling it a transition toward sustainable jobs. With the plan being based on a definition of “sustainable” that the feds say will stay fluid over time, it’s causing widespread fears of a phasing-out of the oil and gas industry. Bill C-50, known as the…
Oil Holds Steady Ahead of Powell’s Congressional Testimony
LONDON—Oil prices stabilised on Wednesday ahead of Federal Reserve Chair Jerome Powell’s congressional testimony later in the day and as data showing British inflation remained sticky raised the possibility of a hawkish Bank of England policy decision this week. Brent futures were flat at $75.90 a barrel by 0929 GMT and U.S. West Texas Intermediate…
Stocks Uneasy in Case Powell Embraces His Inner Hawk
June 21, 2023
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SYDNEY/LONDON—Stocks slipped on Wednesday on negative news including a lack of new stimulus from Beijing, bearish British inflation data, and a further slump in European real estate, as markets await direction from Federal Reserve Chair Jerome Powell. The world’s most powerful central banker faces lawmakers in two days of testimony and is sure to be…
Elon Musk Hints at ‘Significant Investment’ in India After Meeting Modi
Tesla CEO Elon Musk has signaled interest in making a “significant investment” in the world’s most populous country, India, after meeting with Indian Prime Minister Narendra Modi in New York on Tuesday. Musk told reporters that he had an “excellent conversation” with Modi and suggested that he would bring his electric vehicle manufacturing business to…
Australian Energy Giant Approves $10.6 Billion Oil Project Offshore Mexico
Australia’s largest oil producer will proceed with a US$7.2 billion (AU$10.6 billion) project offshore Mexico that will deliver hundreds of millions of oil barrels in the next decade. On June 20, Woodside Energy announced that it would invest in the Trion project, a joint venture with Mexican state-owned oil company Pemex. The project is located…
Protesters Again Target Major Coal Ports in Australia
The Port of Newcastle and the Port of Melbourne have again been targeted by climate protesters just hours after a teenager scaled a coal loader and glued herself to a railing. It’s the third day of action by climate activists targeting major east coast coal ports. A young woman named Niamh abseiled off Shepherd’s bridge on…
Chinese Automakers Start EV Price War in Australia
Two Chinese car manufacturers have sparked an electric vehicle (EV) price war in Australia with their plans to roll out “the most affordable” electric car on the market this week. On June 19, MG Motor, which Chinese automaker SAIC Motor owns, announced the release of an entry-level model for its MG4 electric SUV at $38,990 (US$26,500),…
Oil Mixed on China Rates Cut, Growth Outlook
LONDON—Oil prices slipped on Tuesday after China cut benchmark lending rates less than some expected while demand was seen rising this year, clouding the outlook for the world’s largest crude importer. Brent crude was up 47 cents or 0.6 percent at $76.56 a barrel at 0850 GMT. U.S. West Texas Intermediate (WTI) crude for July…
China’s Smaller-Than-Expected Rate Cut Sends Stocks Lower
June 20, 2023
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HONG KONG/LONDON—European and Asian stocks fell on Tuesday after China cut interest rates by less than expected and the market awaited more details on Beijing’s plans to shore up a stuttering economic recovery. China cut its benchmark loan prime rates (LPR) for the first time in 10 months on Tuesday, with a smaller-than-expected 10-basis point…
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