Why Venezuela’s Oil Based Cryptocurrency Is Still Alive

In a recent Wall Street Journal article, Mary Anastasia O’Grady writes that Venezuela’s “National Superintendency for the Defense of Socio-Economic Rights is reportedly pressuring stores to accept the government’s new digital fiat currency, the Petro.” The Venezuelan government claims its digital currency, which launched in early 2018, is backed one-for-one by a barrel of oil. The petro is also intended to circulate at a fixed exchange rate with the bolívar soberano, the latest iteration…

Nigeria’s Terrible Oil Decision

Nigeria has adopted the Finance Act 2020. A step which unacquainted with the phenomenon might seem completely innocent yet poses great risks to the future of Africa’s largest oil producer. A trend which has been for a several years in the making – ever since a couple of Nigerian states initiated a lawsuit against their own government for allegedly not collecting the maximum possible revenue under the 1999 Production Sharing Contracts Act, compelling the Buhari government to embrace the issue. The idea that the government should have…

Drivers To Start Ditching Gasoline Cars for EVs As Early As 2025

Car buyers in the United States and major European economies expect improved infrastructure and range of battery electric vehicles (BEVs) to convince them to choose buying an electric car over a gasoline-powered car in five to ten years, a new report from human behavior and analytics firm Escalent showed this week.   Although drivers are unlikely to choose an EV over gas or diesel-powered car in the next year, the share of those who expect to buy a gasoline car in five to ten years is significantly lower, according to Escalent’s survey…

Two Abundant Elements That Could Create A Superbattery

For decades, scientists have been on the prowl for advanced battery materials with features such as superior energy density or those that confer extra-long battery life leading to such futuristic designs as bendable batteries that mimic the human spine, to breathable nanochain structures.  But maybe they have been looking in the wrong places, with nature’s own biological kingdom providing a potential solution. Generating electricity from thin air might sound like the stuff of science fiction; yet, scientists at the University of Massachusetts…

Shell Not Competing With BP Over Net Zero Emissions Goals

Shell doesn’t intend to “get into an arms race” with peer supermajor BP over goals to reduce its carbon footprint, Maarten Wetselaar, Shell’s Integrated Gas & New Energies Director, told The Times a week after BP joined the pack of oil majors that have set carbon-reducing goals. In December 2018, in an industry first, Shell said that it plans to set short-term targets for reducing the net carbon footprint of the energy products it sells, and to link those targets with executive remuneration.  The world…

Shell Not Competing With BP Over Net Zero Emissions Goals

Shell doesn’t intend to “get into an arms race” with peer supermajor BP over goals to reduce its carbon footprint, Maarten Wetselaar, Shell’s Integrated Gas & New Energies Director, told The Times a week after BP joined the pack of oil majors that have set carbon-reducing goals. In December 2018, in an industry first, Shell said that it plans to set short-term targets for reducing the net carbon footprint of the energy products it sells, and to link those targets with executive remuneration.  The world…

Shell Not Competing With BP Over Net Zero Emissions Goals

Shell doesn’t intend to “get into an arms race” with peer supermajor BP over goals to reduce its carbon footprint, Maarten Wetselaar, Shell’s Integrated Gas & New Energies Director, told The Times a week after BP joined the pack of oil majors that have set carbon-reducing goals. In December 2018, in an industry first, Shell said that it plans to set short-term targets for reducing the net carbon footprint of the energy products it sells, and to link those targets with executive remuneration.  The world…

Shell Not Competing With BP Over Net Zero Emissions Goals

Shell doesn’t intend to “get into an arms race” with peer supermajor BP over goals to reduce its carbon footprint, Maarten Wetselaar, Shell’s Integrated Gas & New Energies Director, told The Times a week after BP joined the pack of oil majors that have set carbon-reducing goals. In December 2018, in an industry first, Shell said that it plans to set short-term targets for reducing the net carbon footprint of the energy products it sells, and to link those targets with executive remuneration.  The world…

China’s Car Sales Plunge 92% On Coronavirus Fears

China’s passenger car sales tumbled by 92 percent year on year in the first two weeks of February, due to the coronavirus outbreak, which is also expected to result in a significant decline in Chinese trade growth and to reduce foreign investments into China this quarter. According to data from the China Passenger Car Association (CPCA), cited by South China Morning Post, daily retail sales of passenger cars slumped to just 4,909 vehicles between February 1 and February 16, compared to 59,930 vehicles sold in the same period last year.  …