U.S. oil companies are cutting jobs by the thousands as they respond to falling crude prices, higher tariffs, and a wave consolidation in the industry.
President Donald Trump promised boom times for oil and gas when he took office in January. Instead, the industry has shed 4,000 positions through August, according to the most recent data from the Bureau of Labor Statistics.
The layoffs come as U.S. crude oil prices have fallen 13% this year due to OPEC+ members rapidly increasing supply to the global market. West Texas Intermediate was trading under $63 per barrel Tuesday, below the breakeven price that many shale oil producers in Texas need to drill new wells at a profit.
The three biggest U.S. oil companies Exxon Mobil, Chevron and ConocoPhillips have all announced job cuts in 2025 after making major acquisitions over the past two years as the industry consolidates.
Exxon is cutting 2,000 positions as it implements its restructuring plan, a spokesman said Tuesday. Chevron announced in February that it would cut up to 20% of its workforce through 2026. Conoco said earlier this month that it would cut up to 25% of its workforce.
The broader energy sector, meanwhile, has shed 9,000 positions through August of this year, about a 30% increase in layoffs compared with the same period in 2024, according to data from Challenger, Gray and Christmas.
Hiring has ground to a near standstill this year with energy companies planning to fill around 1,000 openings, down about 90% from the more than 12,000 openings during the same period in 2024, according to the Challenger data.
Oil patch in distress
Shale oil executives have criticized Trump’s push for lower oil prices at the same their costs are increasing due to his steel tariffs, warning this would lead to job losses.
“The administration is pushing for $40 per barrel crude oil, and with tariffs on foreign tubular goods, [input] prices are up, and drilling is going to disappear,” one executive said in an anonymous response to a quarterly survey conducted by the Federal Reserve Bank of Dallas.
“The oil industry is once again going to lose valuable employees,” the executive said.
Another executive said the administration was aligned with the policy of OPEC+ at the expense of U.S. producers.
“Instead of supporting domestic production, they’ve effectively aligned with OPEC — using supply tactics to push prices below economic thresholds, kneecapping U.S. producers in the process,” the executive told the Dallas Fed.
The same executive said the oil majors are pushing out the “entrepreneurs who once defined the shale revolution” as the industry conslidates. Exxon recently acquired Pioneer Natural Resources for $60 billion, Chevron purchased Hess for $53 billion, and Conoco bought Marathon Oil for $17 billion.
“In their place, a handful of giants now dominate but at the cost of enormous job loss and the destruction of the innovative, risk-taking culture that made the U.S. shale industry great,” the executive said.
A White House spokesperson said Trump is “rolling back burdensome regulations that were killing the industry,” crediting the president’s policies with record production in June. Energy Secretary Chris Wright has argued that the administration is making drilling cheaper by cutting red tape.
More than half of the European Union’s (EU) electricity came from renewables in the second quarter of 2025, and solar is leading from the front.
According to new data from Eurostat, renewable energy sources generated 54% of the EU’s net electricity in Q2 2025, up from 52.7% year-over-year. The growth came mainly from solar, which produced 122,317 gigawatt-hours (GWh) – nearly 20% of the total electricity generation mix.
June 2025 was a milestone month: Solar became the EU’s single largest electricity source for the first time ever. It supplied 22% of all power that month, edging out nuclear (21.6%), wind (15.8%), hydro (14.1%), and natural gas (13.8%).
Some countries are already nearly 100% renewable. Denmark led with an impressive 94.7% share of renewables in net electricity generated, followed by Latvia (93.4%), Austria (91.8%), Croatia (89.5%), and Portugal (85.6%). At the other end of the spectrum, Slovakia (19.9%), Malta (21.2%), and the Czech Republic (22.1%) lagged behind.
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In total, 15 EU countries saw their share of renewable generation rise year-over-year. Luxembourg (+13.5 percentage points) and Belgium (+9.1 pp) posted the most significant gains, driven largely by solar power growth.
Across the EU, solar made up 36.8% of renewable generation, followed by wind at 29.5%, hydro at 26%, biomass at 7.3%, and geothermal at 0.4%.
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Another week, another patent filing with the USPTO from Rivian. Filings from Rivian, published today, detail an ornamental headlamp design, as well as a home energy storage system similar to Tesla’s Powerwall. Could this be our first glimpse at Rivian’s version of home energy management technology, including vehicle-to-grid (V2G) capabilities?
Today’s patent news follows several exciting filings Rivian submitted to the United States Patent and Trademark Office last week. We covered those submissions in detail, including a new BEV architecture that no longer utilizes a 12V battery, an automated rear diffuser, and on-screen “gadgets” in the infotainment and navigation.
Less than a week later, Rivian has five additional patents published by the USPTO as of September 30, 2025. Of those filings, we see an obstacle detection system for the tonneau cover, a vehicle state estimation system, a battery thermal release layer, and an ornamental headlamp design, as shown below.
Lastly, Rivian also has a published patent filing for an energy storage system
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Source: USPTO.gov
Rivian files patent for headlamp, energy storage system
According to patent US D1,095,903 S published on September 30, 2025, Rivian IP Holdings submitted the filing for an ornamental headlamp back on October 20, 2023. There are a few details aside from several figure illustrations in the submitted document, which states that the 15-year patent covers “the ornamental design for an automobile headlamp as shown and described.”
In addition to the headlamp, Rivian also has a new patent number US 12,431,551 В2, which details an energy storage device. The abstract of the patent primarily details energy monitoring of connected devices as well as light indicators after detecting nearby motion.
Source: USPTO.gov
However, further documentation published alongside the images seen above reveals a wealth of additional design plans, including electrical grid interface capabilities, which hint at Vehicle-to-Grid (V2G) capabilities, or in reality, vehicle-to-everything (V2X). Per the patent (FIG.1 coincides with the featured image at the top of the page):
FIG. 1 depicts an energy storage system 100, in accordance with some aspects. The energy storage system 100 includes one or more energy storage devices 105. For example, the energy storage device 105 can store chemical, electrical, or mechanical energy. The energy storage device 105 can be associated with (e.g., can provide power to or from) a cabin, home, vehicle, or campsite. The energy storage device 105 can be fixed or portable (e.g., can be vehicle mounted, affixed to a permanent structure, or freely moved). For example, the energy storage device 105 can be intended for stationary operation, based on power received or delivered to the stationary location, or can be intended for movable operation (e.g., in response to a need for power at a remote location, such as a campsite.) For example, the energy storage device 105 can be an electric vehicle battery pack 160 of an electric vehicle 155 configured to provide propulsion for the electric vehicle 155 or accessory power for a user associated with the electric vehicle 155 (e.g., for lighting, cooking, and music). The vehicle battery 160 can provide energy to or from the components of FIG. 1 such as the energy storage device 105 or the grid 150.
So essentially, Rivian has a patent on its own branded energy storage system, which can include battery cells to store excess energy from a vehicle, the grid, or solar panels, and power a home at a homeowner’s request, similar to technology already rolled out by competitors like Tesla, Ford, and GM Energy.
Could we soon see Rivian energy storage and V2X capabilities in the homes of R1 owners? Time will tell!
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Yes, just 18. Toyota sold 18 electric vehicles in its home market of Japan last month. And that includes its luxury Lexus brand.
Why did Toyota sell just 18 EVs in Japan in August?
Toyota, including Lexus, sold just over 17,000 electric vehicles globally in August. But, in Japan, Toyota’s home market, EV sales plummeted, with just 18 units sold.
The other 17,038 EVs were sold in overseas markets, like Europe, China, and North America. Through the first nine months of 2025, Toyota and Lexus have sold 117,031 battery electric vehicles (BEVs) worldwide and are on pace to top the roughly 140,000 sold throughout 2024.
In Japan, the story has been different so far this year. Toyota (including Lexus) sold 469 EVs through August, a far cry from the 2,038 it sold throughout the entire year of 2024.
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To be fair, it’s not just Toyota that’s struggling to sell electric cars in Japan. The country has failed to keep pace with China and, in many respects, the rest of the industry, due to a lack of government support and limited options compared to gas-powered hybrids.
2025 Toyota bZ4X Limited AWD Supersonic Red (Source: Toyota)
Even BYD, which has seen explosive growth in most markets, has struggled to gain traction in Japan. Since launching its first vehicle in January 2023, BYD has sold just 5,300 vehicles through June of this year.
According to a new Bloomberg report, BYD is now offering discounts of up to ¥1 million ($6,700) on its vehicles. Including government subsidies, the discounts cut vehicle prices by up to 50%.
2025 Lexus RZ 450e Luxury (Source: Lexus)
Toyota’s hybrid sales, on the other hand, are up nearly 10% this year in Japan, with over 603,600 hybrids sold. Outside of Japan, Toyota’s hybrid sales are up 14% with over 2.3 million models sold through August.
Electric vehicles are expected to account for only about 3.4% of new car sales in Japan this year, according to BloombergNEF, but further growth is anticipated.
Several automakers, including Honda and BYD, are launching more affordable EVs. BYD plans to launch its first electric kei car that will compete with the Nissan Sakura, Japan’s top-selling EV. It will also go up against the Honda N-ONE e, which launched on September 12, starting at just ¥2.7 million ($18,300).
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