Oil CEOs say this winter is not the season to worry about when it comes to the energy crisis
PCK Schwedt oil refinery in Schwedt, Germany on Monday, May 9, 2022.
Krisztian Bocsi | Bloomberg | Getty Images
ABU DHABI, United Arab Emirates — Politicians and governments around the world are bracing for potential civil unrest as many countries grapple with mounting energy costs and rising inflation.
The global economy is facing an onslaught from multiple sides — a war in Europe, and shortages of oil, gas and food, and high inflation, each of which has worsened the next.
Concerns are centered on the coming winter, especially for Europe. Cold weather, combined with an oil and gas shortage stemming from Western sanctions on Russia for its invasion of Ukraine, threatens to upend lives and businesses.
But as much concern as there is ahead of this winter, it’s really the winter of 2023 that people should be worried about, major oil and gas executives have warned.
Energy prices “are approaching unaffordability,” with some people already “spending 50% of their disposable income on energy or higher,” BP CEO Bernard Looney told CNBC’s Hadley Gamble during a panel at the Adipec conference in Abu Dhabi.
We are in good shape for this winter. But as we said, the issue is not this winter. It will be the next one, because we are not going to have Russian gas.
Claudio Descalzi
CEO of Eni
But through a combination of high gas storage levels and government spending packages to subsidize people’s bills, Europe may be able to manage the crisis this year.
“I think it has been addressed for this winter,” Looney said. “It’s the next winter I think many of us worry, in Europe, could be even more challenging.”
The CEO of Italian oil and gas giant Eni expressed the same worry.
For this winter, Europe’s gas storage is around 90% full, according to the International Energy Agency, providing some assurance against a major shortage.
But a large proportion of that is made up of Russian gas imported in previous months, as well as gas from other sources that was easier than usual to buy since major importer China was buying less due to its slower economic activity.
“We are in good shape for this winter,” Eni chief Claudio Descalzi said during the same panel. “But as we said, the issue is not this winter. It will be the next one, because we are not going to have Russian gas – 98% [less] next year, maybe nothing.”
Protests have already begun
This could lead to serious social unrest — already, small to medium-sized protests have cropped up around Europe.
Anti-government protests in Germany and Austria in September and in the Czech Republic last week — the latter of which has seen household energy bills surge tenfold — may be a small taste of what’s to come, analysts have warned. Some energy executives agreed.
Yes, there is a real risk that governments without a steady hand on policy shaping in Asia can deal with unrest.
Datuk Tengku Muhammad Taufik
CEO of Petronas
“We’ve seen that any shocks to the price at the pump, or something as simple as LPG [liquefied petroleum gas] for cooking, can cause unrest,” the CEO of Malaysian oil and gas company Petronas, Datuk Tengku Muhammad Taufik, said.
He described how a strengthening dollar and rising fuel prices pose a serious risk to many Asian economies – massive populations that are some of the biggest oil and gas importers in the world. And this is happening while subsidies are already in place to help ease prices for citizens.
Inflation in the euro zone remains extremely high. Protestors in Italy used empty shopping trolleys to demonstrate the cost-of-living crisis.
Stefano Montesi – Corbis | Corbis News | Getty Images
Many Asian economies were already reeling from the pandemic, which caused “vast swaths of [small and medium enterprises] in Asia to just collapse,” Taufik said. “So, yes, there is a real risk that governments without a steady hand on policy shaping in Asia can deal with unrest.”
Anger at oil companies’ massive profits
Much of the anger of protesters is also directed at the energy companies, which have been making record profits as bills get higher and higher.
Responding to this, many of the CEOs who spoke to CNBC said it’s an issue of market supply and demand, and that it’s up to governments to implement policies more conducive to energy investment. That investment, they stressed, has taken a hit in recent years as countries push for the transition to renewables.
The world has to face “the practicalities and realities of today and tomorrow,” BP’s Looney said, stressing the need to “invest in hydrocarbons today, because today’s energy system is a hydrocarbon system.”
Many policymakers and institutions still decry the use of fossil fuels, warning the far bigger crisis is that of climate change. In June, United Nations Secretary General Antonio Guterres called for abandoning fossil fuel finance, and called any new funding for exploration “delusional.”
The oil executives argued that this approach simply isn’t realistic, nor is it an option if countries want economic and political stability.
At the same time, however, they admitted that the energy transition itself does need greater focus and investment in order to avert a larger crisis next year and beyond, when there is no Russian gas in storage and other options are increasingly expensive.
“In Europe, we pay at least six, seven times to [as much as] 15 times the energy costs with respect to the U.S.,” ENI’s Descalzi said.
“So what we have done in Europe, each country, gave incentive subsidies to try to reduce the cost for industry and for citizens. How long that can continue?” he asked.
“I don’t know, but it’s impossible that it can continue forever. All these countries have a very high debt,” he said. “So they have to find a structural way to solve this issue. And the structural way is what we said until now — we have to increase and be faster on the transition. That is true.”
“But,” he added, “we have to understand, from a technical point of view, what is affordable and what is not.”
Tesla has officially announced its 2025 Holiday Update, and this year, the automaker is not using the usually bigger update for any groundbreaking stuff, but there are a few interesting new smaller features.
You will find the release notes in this article.
It’s that time of year again. Every December, Tesla bundles a bunch of features it has been working on into a “Holiday Update” to give owners something to play with over the break.
While previous years have focused on adding major apps like Apple Podcasts or Steam integration, the holiday updates have become gradually weaker over the last few years, and they now concentrate mainly on playful features with smaller tweaks and add-ons.
Tesla announced the rollout in a post on X today:
Here is a breakdown of the main features in the 2025 Holiday Update. They are in order that Tesla announced them, which is generally from most to least important new feature.
Grok with Navigation Commands (Beta)
Many automakers are intergrating LLMs into their vehicles and unsuprisingly, Tesla went with Grok, which is developed by xAI, a company owned by Tesla CEO Elon Musk.
Tesla started the integration with an update last summer, but it only consisted of running the chat bot on Tesla’s in-car computer. It was the equivalent of using Grok on your phone as it couldn’t interact with the car.
Now, the automaker is starting to give Grok access to some vehicle functions, starting with navigation. Tesla announced:
Grok can now add & edit navigation destinations, becoming your personal guide.
Tesla says that to use Grok for navigation command, you have to set Grok’s personality to ‘Assistant’.
Tesla Photobooth
The second feature Tesla announced in the holiday update is the “photobooth”:
Turn your car into a photobooth! Take selfies from inside your Tesla & give yourself a makeover with fun filters, stickers, and emojis. Share with others right from the Tesla app
It sounds like a Temu Snapchat. To activate it: Go to Toybox > Photobooth
Dog Mode Live Activity
Now, to a more useful feature, Tesla has updated Dog Mode with a live activity feed:
When Dog Mode is active, you’ll see a Live Activity on your iPhone featuring periodic snapshots of your vehicle’s cabin along with live updates on temperature, battery & climate conditions
Dashcam Viewer Update
Tesla also added a bunch of information to the Dashcam viewer:
Dashcam clips now include additional details such as speed, steering wheel angle & self-driving state
Santa Mode
You can update the car visualization to this image. Tesla writes in the notes:
Santa Mode now adds festive snowmen, trees, a lock chime & snow effects for a 3D visual treat
You have select ‘Santa’ in the Toybox to activate it.
Light Show Update
Tesla has a dded a new light to the song “Jingle Rush”:
Play instantly or schedule it up to 10 minutes in advance, either on a single vehicle or synced with friends. You can also control interior lighting, add display color effects & create longer custom shows
Custom Wraps and License Plates
Back to slightly more useful features, Tesla has added custom wraps visualizations:
Personalize your Tesla avatar with window tints, custom wraps & license plates. Use one of many preloaded designs or create and upload your own using a USB flash drive to make your vehicle unique
You can select ‘Paint Shot’ in the Toybox to access it.
Navigation Improvements
A slight change to the nav UI:
Reorder your navigation favorites & set Home or Work by dropping a pin anywhere on the map
You can also view suggested destinations based on your recent trips and habits while parked
Supercharger Site Map
In line with the navigation update, you get a cool 3D view at some Supercharger stations straight in the navigation:
You can now see a 3D view of select Tesla Superchargers by tapping “View Site Map”. When navigating to a pilot location, the site layout and live occupancy (Available / Occupied / Down) will be displayed upon arrival
This could be useful to plan exactly where you’ll park and could open the door to a reservation system, which could be specifically useful for pull-in stalls.
Automatic HOV Lanes Routing
Navigation now includes an option to use high-occupancy vehicle (HOV) carpool lanes. Your route will automatically select the carpool lane when eligible, based on time, location, passenger count & road restrictions
Controls > Navigation > Use HOV Lanes
Phone Left Behind Chime
Your vehicle will chime a few seconds after the doors close if a phone key is inside the cabin or a phone is left on the wireless charger and no occupants are detected. Phone key detection requires UWB-supported devices.
Controls > Locks > Phone Left Behind Chime
Charge Limit per Location
You can now save a charge limit for your current location while parked & it will be applied automatically next time you charge there
Controls > Charging
SpaceX ISS Docking Simulator
Become an astronaut and prove your skills by docking with the International Space Station. Control & guide the rocket in this 3D docking simulator game using a set of controls based on actual interfaces used by NASA astronauts.
Arcade > SpaceX ISS Docking Simulator
Other improvements
- Enable or disable wireless phone charging pads in Controls > Charging (S3XY) or Controls > Outlets & Mods (Cybertruck)
- Add Spotify tracks to your queue right from the search screen & scroll through large Spotify playlists, albums, podcasts, audiobooks & your library seamlessly, without paging
- Take the vibes up another level with rainbow colors during Rave Cave. Accent lights color will change along with the beats of your music. App Launcher > Toybox > Light Sync
- Lock Sound now includes Light Cycle from Tron Mode. Toybox > Boombox > Lock Sound
Feature availability subject to vehicle hardware & region
Electrek’s Take
This is a bit of a mixed bag, which is typical for Tesla’s Holiday Updates.
On one hand, many useless features that will be probably be used once or twice and never again, like the photobooth.
But on the other hand, you have some decent new features, specifically to the navigation system, which put together make for a more than decent upgrade.
FTC: We use income earning auto affiliate links. More.
Kia is extending one of its biggest promotions yet, knocking over $10,000 off every EV in its lineup.
Kia knocks $10,000 off EV models
Who said electric vehicles would get more expensive after the $7,500 federal tax credit ended? Kia must not have gotten the memo.
Last month, Kia launched a new promotion, offering a $10,000 customer cash discount for all EVs, including the EV6, EV9, and Niro EV. The discount knocks nearly 25% off MSRP on Kia’s cheapest model, the Niro EV. On the entry-level EV6, it’s 23% off MSRP, while $10,000 off the EV9 is about an 18% discount.
The discounts ended on December 1, but Kia has extended them for at least another month. During its Season of New Tradition sales event, Kia is now offering even more savings.
The 2025 Kia EV6 and Niro EV are now eligible for up to $11,000 in customer cash, including a $10,000 cash back offer and a $1,000 retail bonus cash discount.
If you’re looking for something a little bigger, the 2026 EV9, Kia’s three-row electric SUV, is available with up to $10,500 in bonus cash.
If you choose to finance, Kia is offering 0% APR for up to 72 months, plus $3,500 APR Bonus Cash on the EV6 and Niro EV. The larger EV9 is available with 0% APR for up to 60 months with a $3,000 APR Bonus Cash offer.
The 2025 Kia Niro EV and EV6 are available to lease, starting at $209 and $309 per month for 24 months. The 2026 EV9 is listed with monthly leases starting at $419.
The new sales event comes after Hyundai extended its EV promotions, keeping the IONIQ 5 as one of the most affordable EV leases in the US, starting at just $189 per month.
Kia’s Seasons of New Traditions sales event runs until January 2, 2026. Some deals may vary by region. You can see offers near you by using the links at the bottom.
Interested in test-driving one for yourself? We can help see what’s available in your area. Check out our links below to find Kia and Hyundai EVs near you.
FTC: We use income earning auto affiliate links. More.
New Holland’s already excellent C314 mini track loader is even better for 2026 thanks to the debut of a new, all electric version that offers quiet, low maintenance, and emission-free running for round-the-clock operation.
State and federal governments may still be hashing out emissions laws and ZEV requirements, but it’s the municipal governments that write quiet our laws and noise ordinances, and it’s those laws that construction crews are struggling to work around as they bid for lucrative urban jobs. New Holland understands those construction customers’ needs, and its new C314X Electric mini track loader (announced at last month’s Agritechnica) is designed specifically for them.
“We launched the C314 two years ago, and it has become known for its excellent features,” says Francesca Asteggiano, Europe Construction Brands. “Today, we’re developing an electric version to meet growing demand for quieter, more compact machines — reinforcing our commitment to sustainability and innovation.”
C314X Electric
New Holland’s C314X Electric is designed and built in-house as the zero-emission evolution of the diesel-powered C314, and is powered by a 23.5 kWh li-ion battery that sends power to three electric motors — two drive motors and a single hydraulic motor for the boom.
The company says the new C314X has a rated operating capacity that matches the diesel unit at 460 kg (~1014 lbs.) and a hinge pin height of 2.2 m (~7.2 ft.).
Though still “just a prototype” at this point, CASE and New Holland products have a history of making it to production. If when it does, company reps say it will be available in two undercarriage configurations, a “narrow track” version 890 mm wide that can fit through garden gates and man doors, and wide track version 1026 mm wide for heavier duty outdoor and agricultural work.
The stand-on machine uses controls that will be familiar to any mini loader operator — especially those with experience behind the controls of the diesel C314 — and all the implements and attachments that work on the diesel version bolt up to the C314X Electric, making it ideal (the company says) for livestock and horticultural farmers, landscape contractors and residential construction operations, thanks to multiple compatible attachments to ensure full versatility to dig, load, drill, and more.
Stay tuned for pricing and availability, likely set to be announced during ConExpo 2026.
SOURCE | IMAGES: New Holland.
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.
-
Sports2 years agoStory injured on diving stop, exits Red Sox game
-
Sports3 years ago‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
-
Sports2 years agoGame 1 of WS least-watched in recorded history
-
Sports3 years agoButton battles heat exhaustion in NASCAR debut
-
Sports3 years agoMLB Rank 2023: Ranking baseball’s top 100 players
-
Sports4 years ago
Team Europe easily wins 4th straight Laver Cup
-
Environment3 years agoJapan and South Korea have a lot at stake in a free and open South China Sea
-
Environment1 year agoHere are the best electric bikes you can buy at every price level in October 2024