Connect with us

Published

on

A truck passes pumpjacks in the Belridge oil field on November 03, 2021 near McKittrick, California.
Mario Tama | Getty Images News | Getty Images

President Joe Biden’s administration stands ready to release even more barrels of oil from its strategic reserves should the need arise again, according to the U.S. State Department’s senior advisor for global energy security.

“Absolutely. This is a tool that was available to us and will be available again,” Amos Hochstein told CNBC’s Hadley Gamble in Dubai, the United Arab Emirates on Monday.

His comments come as energy analysts assess the effectiveness of a U.S.-led pledge to release millions of barrels of oil from strategic reserves after OPEC+ producers had resisted calls to pump more to help cool the market.

“Remember, this was not a 50-million-barrel release, 30 million barrels were an exchange where companies and traders can take the oil now and return it over a scheduled period of time. That means the Strategic Petroleum Reserve will be replenished,” Hochstein said.

“And therefore, we have more flexibility to be able to do this again in the future if the need arises. I think we wanted to do something that was impactful for the market and that also had the ability and the flexibility to allow us to do that again should the need arise for the American economy.”

In the first such move of its kind, Biden announced on Nov. 23 the coordinated release of oil between the U.S., India, China, Japan, South Korea and the U.K.

Under the plan, the U.S. is to release 50 million barrels from the Strategic Petroleum Reserve. Of that total, 32 million barrels will be an exchange over the next several months, while 18 million barrels will be an acceleration of a previously authorized sale.

OPEC and allied non-OPEC producers, an influential group known as OPEC+, have repeatedly ignored U.S. pressure to increase crude supply to stymie surging fuel prices.

Led by OPEC kingpin Saudi Arabia and non-OPEC leader Russia, the group will meet again on Thursday to discuss the next phase of production policy.

There is little sign the group intends to change tack from their current output plan.

Oil prices whipsaw

Oil prices rose on Monday, following the biggest one-day pullback since April last year late last week.

International benchmark Brent crude futures traded at $74.60 a barrel on Monday, up more than 2.5% for the session, while U.S. West Texas Intermediate futures stood at $70.62, around 3.6% higher.

Several countries announced travel restrictions on Friday on news of the newly identified omicron Covid variant. It prompted some energy market participants to fear a return of travel bans that could weaken fuel demand.

Analysts believe Monday’s rebound in oil prices shows last week’s slump may have been overdone, although it is not yet clear how demand will be affected.

“We are living through a very fragile economic recovery and we needed to address what was an underlying factor that could threaten that recovery,” Hochstein said.

“That’s what we saw in the market last Tuesday with the U.S. moves and, quite frankly, that’s exactly what we also saw on Friday with the oil prices going down quite sharply because we are in this very fragile moment,” he added.

The World Health Organization has recognized the newly identified Covid strain, first referred to as lineage B.1.1.529, as a variant of concern. The WHO said on Monday that omicron poses a “very high” global risk, although a South African doctor has described symptoms identified so far as “extremely mild.”

The U.N. health agency has said it will take weeks to understand how the variant may affect diagnostics, therapeutics and vaccines.

— CNBC’s Pippa Stevens contributed to this report.

Continue Reading

Environment

Chinese Buick Electra EV may be coming to the US after all

Published

on

By

Chinese Buick Electra EV may be coming to the US after all

File this under “wishful thinking” if you want, but a fresh trademark filing for the Buick Electra name could mean that the storied nameplate is set for a return to US shores.

GM Authority reports that Buick parent company General Motors has renewed its trademark for the Buick Electra name in the US in a filing from 09DEC2025 with the United States Patent and Trademark Office (USPTO), and received an assigned serial number 99538079. The application carries a Goods and Services of, “Motor land vehicles, namely, automobiles.”

Electra a nameplate that holds a long history with the near-luxe Buick brand and has generally been believed to be one that’s especially relevant to Buick’s electrification strategy in the US. That’s a notion that seems especially true when you consider the following two facts:

  1. the Buick Electra nameplate is already featured on a number of hugely successful GM products being sold in the ultra-competitive Chinese market
  2. 2027 is the fortieth anniversary of the Buick Grand National, and GM’s marketers are way too smart to let that moment slide

It’s worth noting, of course, that this most recent renewal for the Buick Electra trademark is a long, long way from a confirmation of a new all-electric Buick for the US market and even further from a confirmation that we’re getting the hot, sexy Electra GM sells in China. If anything, it’s likely just a matter of course legal thing that GM needs to protect its IP in China while, at the same time, preventing some kind of disastrous Sierra Mist scenario from playing out at home (which– yeah, I get that it’s not true, but you got the idea).

Advertisement – scroll for more content

That said, I want to believe.

Electrek’s Take


I’m a huge fan of GM, GM’s EVs, and the way Mary Barra has managed the General over the past several years. I also think a big, sexy sedan is sorely missing from GM’s lineup, and the fast, flashy electric sedan formula might play better at the Buick store than at the Cadillac brand.

Combine that with an overwhelming desire to see a new-age Buick Grand National parked in my garage next Christmas and you can see that I’m not to be trusted. So, what say you? Head on down to the comments and let us know what you think of an American Electra revival just in time for the 2027 model year.

SOURCE | IMAGES: GM Authority; GM.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Vale, Caterpillar set to expand autonomous mining operation

Published

on

By

Vale, Caterpillar set to expand autonomous mining operation

Heavy equipment giants Caterpillar have signed an agreement with Vale that will see the company dramatically expand its fleet of autonomous haul trucks deployed at iron ore operations in the Carajás region of Brazil over the next three years.

Vale’s Northern System mining operation currently has 14 CAT, 320-ton autonomous haul trucks in service. With this new deal, sold by Caterpillar’s Brazilian dealer, Sotreq, the autonomous haul truck fleet will expand to some ninety (!) of the massive, self-driving trucks by 2028. The big yellow trucks will be operated by CAT®, MineStar™ Command for hauling, and ship with a payload capacity of between 240 to an almost unimaginable 400 (!!) tons.

“We’re proud to introduce Cat Command for hauling at Vale’s Carajás site,” says Marc Cameron, Senior Vice President at Caterpillar. “By equipping Vale’s haul trucks with our autonomous technology, we will be delivering scalable solutions that meet their needs across a mixed fleet.”

CAT says this new deal represents, “a transformational leap,” citing the fact that autonomous trucks remove workers from hazardous areas and enable safer and more inclusive environments for mine employees – and more efficient operations for Vale.

Advertisement – scroll for more content

That fact is backed by results from other Vale operations that have deployed large numbers of autonomous vehicles, which saw gains of up to 15% in operational performance and a 7.5% reduction in fuel use (more with electric drive), contributing to the reduction of the company’s carbon emissions. And, because this is end-stage capitalism 2025, they’re crediting AI for discovering those efficiencies.

“By integrating autonomous systems, artificial intelligence, and advanced data analysis, we are modernizing our mining operations in the Northern Corridor, becoming a global benchmark in smart mining, promoting the transformation of the industry, and connecting us to international best practices,” says Rafael Bittar, Vale Vice President, Technical.

The trucks will be delivered over the next three years, and are expected to be in full operation and up to speed by 2030.

Electrek’s Take


Caterpillar and Luck Stone celebrate one million tons hauled autonomously at Bull Run Quarry
240 electric haul truck; via Caterpillar.

As I’ve said before, EVs and mining to together like peanut butter and jelly. In confined spaces, the carbon emissions and ear-splitting noise made by conventional, ICE-powered mining equipment can create dangerous circumstances that can lead to serious injuries (or worse), and that’s just going to make it even harder for a mining operation to keep people working and minerals coming out of the ground.

By working with companies like Caterpillar to prove that forward-looking electric equipment can do the job as well as well as (if not better than) their internal combustion counterparts, Vale will go a long way towards converting what’s left of the ICE faithful.

SOURCE | IMAGES: Vale, Caterpillar.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Motiv, Workhorse merge to take on the ICE establishment

Published

on

By

Motiv, Workhorse merge to take on the ICE establishment

Electric medium-duty startups Motive and Workhorse have logged millions of miles across their customer fleets — and by joining forces, they’re out to prove, once and for all, that electric vehicles can get the job done.

Following shareholder votes last month, Ohio-based Workhorse and San Francisco-based Motive are merging to form one of the largest commercial electric vehicle and last-mile delivery telematics solutions companies in the industry.

The all-stock transaction, announced last week, values the combined company at approximately $105 million and is expected to close in the fourth quarter of 2025, subject to Workhorse shareholder approval.

Under the terms of the agreement, Motiv’s controlling investor will become the majority owner with approximately 62.5% of the combined company, while Workhorse shareholders will maintain a significant equity stake of approximately 26.5%.

FREIGHTWAVES

The move is intended to combine Workhorse’ manufacturing capabilities and nationwide dealer network with Motiv’s proven product portfolio and existing fleet relationships to serve the growing $23 billion medium-duty truck segment with a full range of Class 4-6 electric vehicles that plays to the strengths of both companies while, at the same time, proving them with economies of scale they’ll need to survive the next wave of fake “the EV market is dead” headlines.

“Bringing together two leading OEMs in the medium-duty space strengthens our ability to reduce the cost of electric trucks and make the total cost of ownership even more compelling,” said Scott Griffith, CEO of Motiv, who will lead the combined company. “We believe this is a coming-of-age moment — not just for Motiv and Workhorse, but for the industry as a whole.”

Advertisement – scroll for more content

The companies anticipate a minimum of $20 million in cost synergies by the end of 2026 through reductions in redundant R&D, G&A, and facility costs (and, of course, the associated layoffs).

Workhorse’s Union City facility has the capacity to eventually produce up to 5,000 trucks per year — a significant manufacturing scale for the merged operation and light years ahead of what Motiv’s existing facilities can crank out.

“This transaction represents a significant milestone for Workhorse, our customers, our stakeholders and our shareholders,” Rick Dauch, CEO of Workhorse and advisor to the new, combined company told FreightWaves. “We believe Motiv is the right partner to support the advancement of our combined product roadmap and capture new growth opportunities.”

The new, combined electric box van company will being life with 10 of the largest medium-duty fleets in North America as existing customers, and hopes to expand their line of offerings into the electric bus and RV markets in the years to come.

Electrek’s Take


FedEx Places First Order for 15 Workhorse W56 Step Vans to Grow Zero-Tailpipe Emission Fleet
Workhorse van deployed by FedEx; via Workhorse.

Workhorse and Motive can spin this merger however they like — but this move is as much about survival in the new, incentive-lite era of Trump 2 than it is about anything else. That doesn’t mean it’s not a smart move, as each of the parts of this new whole has eliminated a very strong competitor while, at the same time, gaining all at least some of their best features.

As cynical as I am about corporate consolidation and layoffs (especially during the holidays), I can’t help but think this could be a winning move.

SOURCE | IMAGES: Workhorse; via FreightWaves.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending