Car company Carvana, operating large automotive vending machines in Texas, raises $225 million in IPO From MarketWatch Yes, Carvana Co. sells real cars out of a vending machine. And it is about to get hundreds of millions of dollars to do more of it. Carvana sells used cars online, with a current inventory of 7,300 used and reconditioned vehicles. Customers
CNG fueling stations are sprouting up at transit facilities and truck stops, but over-the-road electric trucks loaded with technology, creative leases, battery swapping and free fuel are coming to U.S. on-ramps Last week, Pennsylvania’s Governor Tom Wolf celebrated the opening of the first of 29 compressed natural gas (CNG) fueling stations planned as part of a Public Private Partnership in his
From AutoBlog Your feelings about autonomous cars could be related to your age, as a recent J.D. Power study has found out. According to the 2016 US Tech Choice Study, younger generations trust fully autonomous cars far more strongly than older generations. As many as 56 percent of “Gen Y” vehicle owners, also known as millennials, trust self-driving technology, closely mirrored by
Luxury electric car maker goes to the trough for another billion dollars, sells 5% of company to Chinese Internet giant “We are planning to produce 500,000 total vehicles in 2018, which is approximately double our prior growth plan” Shares of Tesla Inc. (ticker: TSLA) pierced the $300 threshold in morning trading today, trading midday at about $303. Tesla’s perceived value
96% of new vehicle sales in 2016 featured combustion engines The implementation of electric vehicles and ride-sharing may have long-term effects on oil demand, but the speed at which changes to the vehicle fleet takes place are likely to ensure that it happens at a slow pace, according to a report by IHS Markit. While IHS and many other prevailing
EPA carbon rule is expected to add $800-$1,100 to new car sticker prices and reduce oil consumption by 1.2 billion barrels While the oil industry was watching OPEC, U.S. Environmental Protection Agency (EPA) Administrator Gina McCarthy has issued a final proposal to leave the carbon emissions standards for model years 2022-2025 in place. “This extensive body of analysis shows that
From MarineLink Freight rates for Aframax tankers on Black Sea-Mediterranean and cross Mediterranean routes almost doubled on Friday to their highest since July, driven by demand for loadings at the end of November at a time when many Aframaxes are storing oil at sea. Rates for these routes jumped to 120-140 Worldscale points (WS) from WS70-80 on Thursday, shipping reports
EVs could demand enough copper, other metals to dwarf oil market fallout: BHP According to Bloomberg New Energy Finance, EVs could displace oil demand of 2 million barrels a day as early as 2023. “That would create a glut of oil equivalent to what triggered the 2014 oil crisis.” The first half of 2016 saw 128 percent growth in the
Ingenuity from engine designers using natural gas to power trucks at 90% below current NOx limits Kenworth said emissions for its Cummins Westport ISL G Near Zero NOx natural gas engine, which will become available in the Kenworth T680 and T880 models for 2017, are 90 percent below the current NOx limit of 0.2 gram per brake horsepower-hour, and meet the 2017
Colonial Line 1 Outage and Choked East Coast Gasoline Market Resulted in Record Stock Changes, Supply Imbalances, and Regional Rally Due to a leak detected near Birmingham, AL, Colonial Pipeline Line 1 was placed out of service between September 9 and September 21, with implications felt regionally and worldwide. Gasoline stocks in the Lower Atlantic region plunged as a result,
From Workboat At the Columbus Street terminal in Charleston, S.C., a pair of shipping cranes are coming down, to be dismantled and carted off for use at another port. Their removal represents one more step forward for the Port of Charleston, once the most prosperous in the U.S. The old breakbulk cargo yard now is packed with BMW automobiles. The German carmaker made Charleston
Administration Overturns Federal Court Ruling, Halts Work on $3.8 Billion Dakota Access Pipeline In a surprise statement on Friday, the Obama administration said that it would not issue the easements necessary for construction to begin on a portion of the Dakota Access Pipeline project planned to run under Lake Oahe in North Dakota, just north of the boundaries of the
