Oil prices are expected to increase in the second half of 2023, according to the International Energy Forum.
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Oil prices are set to rise in the second half of the year as supply struggles to meet demand, according to the Secretary General of the International Energy Forum.
Oil demand bounced back to pre-Covid levels quickly, “but supply is having a tougher time in catching up,” said Joseph McMonigle, secretary general of the International Energy Forum, adding that the only factor moderating prices right now is the fear of a looming recession.
“So, for the second half of this year, we’re going to have serious problems with supply keeping up, and as a result, you’re going to see prices respond to that,” McMonigle told CNBC on the sidelines of a meeting of energy ministers from the group of the 20 leading industrial economies (G20) in Goa, India, on Saturday.
McMonigle attributes the push in oil prices to increasing demand from China — the world’s largest importer of crude oil — and India.
“India and China combined will make up 2 million barrels a day of demand pick-up in the second half of this year,” the Secretary General said.
Asked if oil prices could once again spike to $100 a barrel, he noted that prices are already at $80 per barrel and could potentially go higher from here.
“We’re going to see much more steep decreases in inventory, which will be a signal to the market that demand is definitely picking up. So you’re going to see prices respond to that,” McMonigle said.
However, McMonigle is confident that the Organization of the Petroleum Exporting Countries and its allies — collectively known as OPEC+ — will take action and increase supply, if the world eventually succumbs to a “big supply-demand imbalance.”
“They’re being very careful on demand. They want to see evidence that demand is picking up, and will be responsive to changes in the market.”
McMonigle also spoke about the liquified natural gas market, crediting the stability in Europe’s energy market to a warmer-than-expected winter in 2022.
“The weather was probably the luckiest thing to have happened,” he said, but warned that “it’s not just this winter, [but] the next couple of winters” that could be rocky.
Global policymakers cannot turn complacent just because LNG prices have fallen, and more investment in renewable energy is needed to ensure the lights continue to stay on, he said.
The LNG-fueled container ship “Containerships Borealis” of the shipping company Borealis moored in the port at HHLA’s Burchardkai terminal.
Once “whispered” about, energy security has now become the main focus of summits such as the G20, McMonigle signaled.
“We definitely have to keep pursuing the energy transition, and all options have to be on the table,” he highlighted, adding that prices and volatility in the energy markets has to be closely watched.
“I’m worried that if the public starts to connect high prices and volatility in energy markets to climate policies or the energy transition, we’re going to lose public support,” he said.
“We’re going to be asking the public to do a lot of difficult and challenging things in order to enable the energy transition. We need to keep them on board.”
Metro Detroit is about to get a big boost of fast EV chargers, with more than 40 new ChargePoint ports set to come online across multiple sites owned by the Dabaja Brothers Development Group.
The first ultra-fast charging site just opened in Canton, Michigan. It’s owned and operated by Dabaja Brothers, who plan to follow it with additional ChargePoint-equipped locations in Dearborn and Livonia.
“We started this project because we saw a gap in our community – there was almost nowhere to charge an EV in Canton, and a similar lack of charging across metro Detroit,” said Yousef Dabaja, owner/operator at Dabaja Brothers.
Each metro Detroit site will feature ChargePoint Express Plus fast charging stations, which can deliver up to 500 kW to a single port, can fast-charge two vehicles at the same time, and are compatible with all EVs. The stations feature a proprietary cooling system to deliver peak charging speeds for sustained periods, ensuring that charging speed remains consistent.
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The stations operate on the new ChargePoint Platform, which enables operators to monitor performance, adjust pricing, troubleshoot issues, and gain real-time insights to keep chargers running smoothly.
Rick Wilmer, CEO at ChargePoint, said, “This initiative will rapidly infill the ‘fast charging deserts’ across the Detroit area, allowing drivers to quickly recharge their vehicles when and where they need to.”
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Mercedes-Benz High-Power Charging and Starbucks have officially opened their first DC fast charging hub together, off the I-5 in Red Bluff, California.
The 400 kW Mercedes-Benz chargers are capable of adding up to 300 miles in 10 minutes, depending on the EV, and every stall has both NACS and CCS cables – they’re fully open DC fast chargers.
Mercedes-Benz HPC North America, a joint venture between subsidiaries of Mercedes-Benz Group and renewable energy producer MN8 Energy, first announced in July 2024 that it would install DC fast chargers at Starbucks stores along Interstate 5, the main 1,400-mile north-south interstate highway on the US West Coast from Canada to Mexico. Ultimately, Mercedes plans to install fast chargers at 100 Starbucks stores across the US.
Mercedes-Benz HPC opened its first North American charging site at Mercedes-Benz USA’s headquarters in Sandy Springs, Georgia, in November 2023 as part of an initial $1 billion charging network investment. As of the end of 2024, Mercedes had deployed over 150 operational fast chargers in the US, but it hasn’t disclosed an official number of how many chargers are currently online.
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Andrew Cornelia, CEO of Mercedes-Benz HPC North America, is leaving the company at the end of the month to become global head of electrification & sustainability at Uber.
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The race for autonomous driving has three fronts: software, hardware, and regulatory. For years, we’ve watched Tesla try to brute-force its way to “Full Self-Driving (FSD)” with its own custom hardware, while the rest of the automotive industry is increasingly lining up behind NVIDIA.
Here’s a table comparing the two chips with the best possible specs I could find. greentheonly’s teardown was particularly useful. If you find things you think are not accurate, please don’t hesitate to reach out:
Feature / Specification
Tesla AI4 (Hardware 4.0)
NVIDIA Drive Thor (AGX / Jetson)
Developer / Architect
Tesla (in-house)
NVIDIA
Manufacturing Process
Samsung 7nm (7LPP class)
TSMC 4N (custom 5nm class)
Release Status
In production (shipping since 2023)
In production since 2025
CPU Architecture
ARM Cortex-A72 (legacy)
ARM Neoverse V3AE (server-grade)
CPU Core Count
20 cores (5× clusters of 4 cores)
14 cores (Jetson T5000 configuration)
AI Performance (INT8)
~100–150 TOPS (dual-SoC system)
1,000 TOPS (per chip)
AI Performance (FP4)
Not supported / not disclosed
2,000 TFLOPS (per chip)
Neural Processing Unit
3× custom NPU cores per SoC
Blackwell Tensor Cores + Transformer Engine
Memory Type
GDDR6
LPDDR5X
Memory Bus Width
256-bit
256-bit
Memory Bandwidth
~384 GB/s
~273 GB/s
Memory Capacity
~16 GB typical system
Up to 128 GB (Jetson Thor)
Power Consumption
Est. 80–100 W (system)
40 W – 130 W (configurable)
Camera Support
5 MP proprietary Tesla cameras
Scalable, supports 8MP+ and GMSL3
Special Features
Dual-SoC redundancy on one board
Native Transformer Engine, NVLink-C2C
The most striking difference right off the bat is the manufacturing process. NVIDIA is throwing everything at Drive Thor, using TSMC’s cutting-edge 4N process (a custom 5nm-class node). This allows them to pack in the new Blackwell architecture, which is essentially the same tech powering the world’s most advanced AI data centers.
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Tesla, on the other hand, pulled a move that might surprise spec-sheet warriors. Teardowns confirm that AI4 is built on Samsung’s 7nm process. This is mature, reliable, and much cheaper than TSMC’s bleeding-edge nodes.
When you look at the compute power, NVIDIA claims a staggering 2,000 TFLOPS for Thor. But there’s a catch. That number uses FP4 (4-bit floating point) precision, a new format designed specifically for the Transformer models used in generative AI.
Tesla’s AI4 is estimated to hit around 100-150 TOPS (INT8) across its dual-SoC redundant system. On paper, it looks like a slaughter, but Tesla made a very specific engineering trade-off that tells us exactly what was bottling up their software: memory bandwidth.
Tesla switched from LPDDR4 in HW3 to GDDR6 in HW4, the same power-hungry memory you find in gaming graphics cards (GPUs). This gives AI4 a massive memory bandwidth of approximately 384 GB/s, compared to Thor’s 273 GB/s (on the single-chip Jetson config) using LPDDR5X.
This suggests Tesla’s vision-only approach, which ingests massive amounts of raw video from high-res cameras, was starving for data.
Based on Elon Musk’s comments that Tesla’s AI5 chip will have 5x the memory bandwidth, it sounds like it might still be Tesla’s bottleneck.
Here is where Tesla’s cost-cutting really shows. AI4 is still running on ARM Cortex-A72 cores, an architecture that is nearly a decade old. They bumped the core count to 20, but it’s still old tech.
NVIDIA Thor, meanwhile, uses the ARM Neoverse V3AE, a server-grade CPU explicitly designed for the modern software-defined vehicle. This allows Thor to run not just the autonomous driving stack, but the entire infotainment system, dashboard, and potentially even an in-car AI assistant, all on one chip.
Thor has found many takers, especially among Tesla EV competitors such as BYD, Zeekr, Lucid, Xiaomi, and many more.
Electrek’s Take
There’s one thing that is not in there: price. I would assume that Tesla wins on that front, and that’s a big part of the project. Tesla developed a chip that didn’t exist, and that it needed.
It was an impressive feat, but it doesn’t make Tesla an incredible leader in silicon for self-driving.
Tesla is maxing out AI4. It now uses both chips, making it less likely to achieve the redundancy levels you need to deliver level 4-5 autonomy.
Meanwhile, we don’t have a solution for HW3 yet and AI5 is apparently not coming to save the day until 2027.
By then, there will likely be millions of vehicles on the road with NVIDIA Thor processors.
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