X

Sign Up To Our Free Newsletter

Join Now

Thanks for subscribing to our free newsletter!

ERROR

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

  • 3 minutes Texas forced to have rolling brown outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 7 minutes Scientists Warn That Filling The Sahara With Solar Panels Is A Bad Idea
  • 11 minutes United States LNG Exports Reach Third Place
  • 15 minutes Joe Biden's Presidency
  • 40 mins IS SAUDI ARABIA SENDING A MESSAGE TO BIDEN
  • 8 mins America Makes Plans to Produce Needed Rare Earth Minerals Domestically
  • 9 hours Texas forced to have rolling black outs, primarily because of large declines in output from fossil fuel power plants
  • 3 hours U.S. Presidential Elections Status - Electoral Votes
  • 3 days Here we go - again: plug-in hybrids cost motorists more than what they were told
  • 6 hours Texas Supply Chain Massacre
  • 2 days Top Conservative Lawyer Says Trump Can Stand Trial
  • 2 days “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 4 days An exciting development in EV Aviation: Volocopter
  • 4 days Former BP Exec "Biden not in war against oil" . . Really ?
New Battery Tech Could Make Solar Energy Storage Even Cheaper

New Battery Tech Could Make Solar Energy Storage Even Cheaper

US-based engineers have joined forces…

Are Chinese Car Brands A Real Threat To Tesla?

Are Chinese Car Brands A Real Threat To Tesla?

While Tesla remains the market…

Biden To Replace Federal Fleet With EVs

President Joe Biden has vowed to replace the almost 650,000-strong federal vehicle fleet with electric cars as part of his climate agenda.

“The federal government also owns an enormous fleet of vehicles, which we’re going to replace with clean electric vehicles made right here in America made by American workers,” the President said on Monday, as quoted by Reuters.

“The current offerings are pretty slim, but the industry’s about to unleash an avalanche of new product, and a lot of it built in North America,” Kristin Dziczek, Automotive Research VP of industry, labor and economics at the Center for Automotive Research, told CNBC. “Just about every U.S. plant is going to have a hybrid or electric product.”

TechCrunch’s Kristen Korosec noted that the pledge is part of a broader effort from the new administration to create 1 million new jobs in the carm manufacturing industry and supply chain.

All U.S. carmakers have ambitious EV programs, not to mention the many EV startups jumping on the climate change bandwagon with a variety of models, most of them at the prototype stage.

GM, for instance, plans to have 30 electric models by 2025. The total investment, including spending on autonomous models, will come in at $27 billion. Ford is also pouring billions—$11.5 billion by 2022 to be precise—in EVs, betting on electric versions of its most well-known and popular models such as the Transit and the F-150.

CNBC noted that the President failed to provide a timeline for the shift from gasoline vehicles to EVs and whether the plan included plug-in hybrids. It might take a while, the report noted, as EVs are more expensive than ICE cars.

Reuters reported that as of 2019, the U.S. federal fleet consumed 375 million gallons of fuel, as per data from the General Services Administration. The 645,000-car fleet cost the government $4.4 billion during that year.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

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