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Energy Secretary Wright on energy dominance: Pres. Trump was elected to bring some common sense back

Energy Secretary Chris Wright said on Thursday that the oil market is discounting President Donald Trump‘s push to produce more crude and gas in the United States.

“We’ve seen a market discounting the fact that clearly it’s going to be easier to produce oil and gas in the United States,” Wright told CNBC’s “Squawk Box” on Thursday. “More supply is going to come, and that’s pushed down prices of oil, gasoline, home heating fuels, everything across the board, that’s a win to the American people.”

U.S. crude oil futures have fallen nearly 14% since Trump took office on Jan. 20. Trump has made energy a central part of his agenda with a focus on increasing oil and gas production. The administration has promised to increase leases on federal lands and waters and expedite the permitting process.

Trump’s tariffs and OPEC policy have been weighing on the oil market in recent weeks as some fear the levies could lead to higher prices and slower economic growth. West Texas Intermediate on March 5 hit an intraday low of $65.22, the lowest since spring 2022, after Trump imposed 25% tariffs on Canada and Mexico. The president subsequently exempted goods that are compliant with the trade pact that governs North America until April 2.

Chevron CEO Mike Wirth and ConocoPhillips CEO Ryan Lance said at an energy conference in Houston last week that they expect U.S. oil production to plateau in the coming years after hitting new records under the Biden administration. Wirth said Chevron is more focused on capital discipline than growing production.

“Chasing growth for growth’s sake has not proven to be particularly successful for our industry,” Wirth said at the CERAWeek by S&P Global Conference. “At some point, you’ve grown enough that you should start to move towards a plateau, and you should generate more free cash flow, rather than just more barrels.”

OPEC+ is also planning to start increasing production in April, gradually bringing back 2.2 million barrels per day to a market that is facing oversupply.

Trump, Wright and Interior Secretary Doug Burgum met with oil and gas executives on Wednesday at the White House. Wright said the administration’s first message was that they intend to work closely with the industry. They no longer have a “scarlet letter on their forehead,” Wright said.

U.S. crude oil prices have risen modestly in recent days as Trump has launched airstrikes on the Houthis in Yemen and vowed to hold Iran responsible for any future attacks by the militant group. West Texas Intermediate was trading at $67.11 per barrel Thursday morning.

Iran is an OPEC member and any escalation in tensions with the country raises fears of supply disruptions. Trump is aiming to drive Iran’s oil exports to zero in an effort to push the Islamic Republic to negotiate a nuclear deal.

Catch up on the latest energy news:

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Batch eCB.3 launches as a comfy commuter e-bike with 28 mph top speed

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Batch eCB.3 launches as a comfy commuter e-bike with 28 mph top speed

There’s a new step-through commuter in town, and it’s packing more punch than you might expect. The just-launched Batch eCB.3 is built for everyday comfort but has the power to take your commute up a notch – literally, with pedal assist all the way up to 28 mph (45 km/h).

At its heart is a 500W Vinka rear hub motor, rated as a Class 3 system for 28 mph pedal-assist cruising. That means you can glide past traffic or fly through your errands with a serious tailwind, all without breaking a sweat. The 48V and 15 Ah (720Wh) battery gives it a generous helping of range, and a torque sensor means your pedaling effort is rewarded with smooth, proportional motor support.

Torque sensors are becoming increasingly common on commuter e-bikes as they help create a more natural and intuitive ride experience compared to often jumpier cadence sensors.

Built on a 6061 hydroformed aluminum step-through frame, the eCB.3 is all about accessibility and comfort. The company says that the upright riding posture, Cionlli saddle, and suspension seat post make it a pleasure to ride, while a Zoom hydraulic suspension fork with 80mm of travel helps smooth out cracks, bumps, and potholes. Kenda 27.5” x 2.4” tires give riders a solid contact patch with the road or light trails, offering added stability and traction.

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Stopping duties are handled by Tektro HD-M275 hydraulic disc brakes with 180mm rotors, giving riders reliable and consistent braking power in any weather. Shifting comes courtesy of a Shimano Altus 8-speed derailleur, which Batch says offers enough range to tackle everything from steep hills to long flats with ease. It’s not the most elegant transmission out there, but the bike is also designed for mid-level riders and lacks the top-shelf gear found on more expensive models.

All told, this is a commuter e-bike that attempts to balance comfort and capability with an accessible frame style and a mix of suspension seat post with a hydraulic suspension fork. It’s not trying to be flashy, but it is trying to make your daily ride smoother, faster, and more fun.

Electrek’s Take

I love seeing more bikes enter the market that make e-biking easier and more accessible for casual riders. The Batch eCB.3 isn’t here to break power records or climb mountains – it’s here to make daily trips more enjoyable. And with 28 mph assist, solid components, and a thoughtful comfort-first design, it looks like it’s hitting that target dead on with a classically inspired Class 3 e-bike with decent components.

The $1,999 price seems a bit high for the component level, in my opinion, but I don’t call the shots – I just report on them.

What do you think of Batch’s latest offering? Let’s hear your opinion in the comment section below.

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Lucid’s (LCID) luxury electric SUV is about to get much more affordable

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Lucid's (LCID) luxury electric SUV is about to get much more affordable

Lucid Motors (LCID) just rolled out the first discounts on its new Gravity SUV. The limited-time offer shaves $3,000 off, but Lucid says an even more affordable version will be available soon.

The Lucid Gravity SUV is getting more affordable

The Lucid Gravity has it all. With up to 450 miles of driving range, a Chevy Suburban-sized interior, advanced software, and the soul of a sports car, the Gravity is, as Lucid calls it, “the ultimate uncompromising SUV.”

Lucid is bouncing back after a magnet shortage disrupted production in the first half of the year. The company plans a major ramp-up over the next few months, with the Gravity expected to make up most of its production and deliveries in the second half of the year.

As Lucid shifts into high gear, it’s now rolling out some of the first discounts for the Gravity SUV. In an email sent out to community members near its Cherry Creek studio in Denver, Colorado, Lucid said, “Big news — For the first time ever, Lucid is offering a $3,000 incentive on the revolutionary Lucid Gravity SUV.”

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The offer, shared on X by user Kyle Connor, is limited and only applies to vehicles currently on site at the Lucid Cherry Creek Studio. Lucid said it only had four Gravities available, each ready for immediate delivery.

Although the deal is exclusive, Lucid is promoting Gravity leases starting at $1,299 per month on its website with a $2,000 Loyalty Offer.

Lucid-Gravity-SUV-more-affordable
Lucid Gravity Grand Touring (Source: Lucid)

The Gravity Grand Touring is currently the only trim available on Lucid’s website, priced from $94,900. However, by the end of the year, it will launch the more affordable Gravity Touring, starting at $81,550.

Lucid’s global communications boss, Nick Twork, replied to a user on X, confirming that we will hear more details on the Gravity Touring before the end of the year.

Lucid-Gravity-interior
The interior of the Lucid Gravity (Source: Lucid)

Twork also confirmed the company is implementing a second shift at its AMP-1 manufacturing plant in Casa Grande, Arizona.

Lucid will continue to offer the $7,500 EV tax credit for Gravity buyers through the end of the year. The Lucid Air is also available with a $7,500 Air Credit and a $2,000 Loyalty or Conquest bonus. Lucid said you must take delivery by October 31 to qualify for the offer.

Want to test Lucid’s luxury EVs for yourself? We can help you get started. You can use the links below to find Lucid Air and Gravity models in your area.

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New Florida bill to require license for e-bikes, updates driver’s licensing test

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New Florida bill to require license for e-bikes, updates driver's licensing test

A newly filed bill in Florida is aiming to change the way the Sunshine State regulates high-speed electric bicycles. If it passes, it could have significant implications for riders and retailers alike.

The proposed legislation, HB 243, was filed by Republican Representative Yvette Benarroch and is set to be considered during Florida’s upcoming legislative session. The bill introduces several new requirements for electric bike and scooter riders, including a mandatory driver’s license or learner’s permit for anyone operating a Class 3 e-bike – that’s an e-bike capable of pedal assist at speeds between 21 to 28 mph (32 to 45 km/h).

While Florida law currently allows anyone over 16 to ride all legal classes of electric bikes without a license, this new bill would tighten that significantly. It also seeks to add e-bike and scooter safety content to the learner’s permit course and Class E driver license test, meaning future drivers would need to demonstrate knowledge of how to safely interact with these smaller electric vehicles.

In addition to licensing, HB 243 would:

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  • Create a new “electric motorcycle” category for higher-speed electric vehicles, likely intended to encompass bikes like those from Sur Ron and other light electric dirt bike makers.
  • Ban riders under 16 from operating any electric motorcycle with 750W or more of power.
  • Require e-bike and scooter riders to yield to pedestrians on shared paths and use audible signals when passing.
  • Mandate crash reporting for incidents involving e-bikes and scooters.
  • Establish penalties for tampering with a motor or speed limiter on an electric bike.

While the House bill has been filed, there’s no Senate companion bill yet, and HB 243 is not law at this time. But if passed, it would mark a significant shift in how Florida classifies and regulates electric micromobility vehicles.

Electrek’s Take

This is one of the more heavy-handed e-bike regulation proposals we’ve seen at the state level, and it raises real questions about access, enforcement, and equity. Adding e-bike content to driver’s ed makes a lot of sense – there are a lot more micromobility EVs on the road now, and drivers need to understand how to safely share the road. But requiring a license for an e-bike that passes over the 20 mph Class 2 threshold? That’s a big step away from treating e-bikes like bicycles and toward treating them like mopeds or motorcycles.

E-bikes have long been an alternative for folks who don’t want to deal with the regulatory and bureaucratic hassle of motor vehicles, and treating Class 3 e-bikes like motorcycles feels like a step in the wrong direction.

As always, we’ll be keeping a close eye on this bill as it moves (or stalls) in the Florida legislature. For now, it’s just a proposal – but it could signal a broader trend toward tighter e-bike regulation across the US.

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