• 4 minutes Why Trump will win the wall fight
  • 9 minutes Climate Change: A Summer of Storms and Smog Is Coming
  • 12 minutes Maduro Asks OPEC For Help Against U.S. Sanctions
  • 16 minutes Washington Eyes Crackdown On OPEC
  • 12 hours is climate change a hoax? $2 Trillion/year worth of programs intended to be handed out by politicians and bureaucrats?
  • 41 mins Ayn Rand Was Right
  • 10 mins Tension On The Edge: Pakistan Urges U.N. To Intervene Over Kashmir Tension With India
  • 26 mins Oil imports by countries
  • 2 hours Sanctions or Support: Despite Sanctions, Iran's Oil Exports Rise In Early 2019
  • 59 mins NZ Oil, Gas Ban Could Cost $30 Bln
  • 4 hours Solar and Wind Will Not "Save" the Climate
  • 2 hours Indian Oil Signs First Annual Deal For U.S. OilIndian Oil Signs First Annual Deal For U.S. Oil
  • 22 hours Some Good News on Climate Change Maybe
  • 14 hours Regular Gas dropped to $2.21 per gallon today
  • 21 hours Expected Breakdown: Israel-Central Europe Summit Canceled After Polish Pullout

Speculators Go Short As Demand Is Downgraded

Rig

Friday, September 16 2016

In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.

Let’s take a look.

1. EV charging stations power up

(Click to enlarge)

- Automakers face the tough task of convincing consumers that enough charging stations exist to warrant the purchase of an electric vehicle. That should become easier as EV charging stations are finally starting to proliferate.
- There are now 14,349 EV charging stations in the U.S., according to the DOE, with nearly 36,000 EV outlets. ChargePoint, a California company, has roughly 30,000 outlets, which is more than double the number of McDonald’s restaurants in the U.S., Bloomberg reports.
- But EV sales are still tepid. In the first half of the year, the U.S. sold 65,000 EVs, which is equivalent to the truck sales from just one automaker (Ford) for one month.
- Still, the upside potential is huge. Chevy is set to unveil its Bolt car later this year, a fully-electric vehicle with 238 miles of range, and a price tag of $37,000 before federal and state tax credits. They beat Tesla to the punch, with a mass market EV at a relatively affordable price. Tesla’s car may come out next year.

2. Speculators go short

(Click to enlarge)

- Speculators…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin



Oilprice - The No. 1 Source for Oil & Energy News