Fuel

Companies in 12 states are receiving $2.8 billion in federal awards to strengthen domestic production of electric vehicle batteries and grid components, part of President Joe Biden’s agenda to boost U.S. manufacturing and accelerate clean energy initiatives.

New England is at risk of natural gas shortages this winter amid surging global demand that’s driving up U.S. exports, according to the top federal energy regulator.

Volvo Group reported increased revenue and net income in the third quarter as deliveries of trucks rose 21%, with the strongest revenue coming from Europe as fleets replaced aging trucks — prompting a record for both truck production and delivery.

President Joe Biden announced the drawdown of an additional 15 million barrels of oil from U.S. emergency reserves, as well as what he called a “ready and release plan” aimed at driving down gasoline prices.

The Biden administration is moving toward a release of at least another 10 million to 15 million barrels of oil from the nation’s emergency stockpile in a bid to balance markets and keep gasoline prices from climbing further.

The national average price of diesel climbed 11.5 cents to $5.339 a gallon, marking the second straight double-digit increase after five straight weeks of declines, according to Energy Information Administration data released Oct 17.

California Gov. Gavin Newsom has established a broad statewide alliance to apply for a stake of $7 billion in federal grants earmarked for national hydrogen hubs rather than forming regional partnerships with other governors.

Nikola Corp. founder Trevor Milton was convicted of fraud Oct. 14 for misleading investors in the electric truck company.

A five-day unannounced hazardous materials and dangerous goods inspection special enforcement effort in June netted 1,774 violations in the United States and Canada, the Commercial Vehicle Safety Alliance reported Oct. 12.

Senate Republicans critical of President Joe Biden’s policies and prices at the pump are pressing the administration on economic relief and to focus on domestic oil and gas production.