Hertz Plans EV Fleet Expansion With 65,000 Polestars
Hertz Global Holdings Inc. plans to buy 65,000 electric vehicles from Polestar over the next five years, a bet that its renters are both EV-curious and eager to drive brands beyond Tesla.
April 4, 2022Visa, Mastercard to Ease Rules, Allowing Stations to Raise Pump Limit
Visa Inc. and Mastercard Inc. are planning a raft of changes to rules for gas stations to allow larger transactions after a surge in fuel prices across the U.S. made it hard for some drivers to fill up using credit cards.
April 1, 202249 MPG Fuel-Economy Standard Ordered for Cars by 2026
The Biden administration ordered carmakers to increase their average fuel economy to about 49 mpg by 2026, in an ambitious effort to make up for progress stalled when President Donald Trump rolled back the efficiency program.
April 1, 2022Rising Fuel Costs Slow Spot Rate Descent
The rise in fuel prices is slowing a decline in spot rates while also potentially suppressing base revenue for some carriers, experts said.
March 31, 2022Biden Invokes Defense Production Act to Boost EV Battery Production
The Biden administration announced it will invoke Cold War powers to boost domestic production of materials for batteries needed to power electric vehicles and the transition to renewable energy, a move intended to improve U.S. competitiveness in a market dominated by China.
March 31, 2022OPEC Sticks to Modest Boost in Oil Despite War Jitters
LONDON — OPEC and allied oil producers including Russia decided March 31 to stick to a modest increase in the amount of crude they pump to the world, a step that supports higher prices even as the Biden administration plans to try to lower them by releasing oil from strategic reserves.
March 31, 2022Key Inflation Gauge Sets 40-Year High as Fuel, Food Soar
WASHINGTON — An inflation gauge that is closely monitored by the Federal Reserve jumped 6.4% in February compared with a year ago, with sharply higher prices for food, gasoline and other necessities squeezing Americans’ finances.
March 31, 2022Biden Plans to Tap Oil Reserve to Control Gas Prices
WASHINGTON — President Joe Biden is preparing to order the release of up to 1 million barrels of oil per day from the nation’s strategic petroleum reserve, according to two people familiar with the decision, in a bid to control energy prices that have spiked as the U.S. and allies have imposed steep sanctions on Russia over its invasion of Ukraine.
March 31, 2022Nikola Announces ENGS to Finance Trucks, Dealer Activities
Nikola Corp. and ENGS Commercial Finance Co., a member of Mitsubishi HC Capital Group, announced an agreement to facilitate sales of Class 8 Nikola Tre battery-electric vehicles and Nikola Tre hydrogen fuel-cell electric vehicles.
March 30, 2022House Panels Have Mixed Success Getting Oil Execs to Appear
Executives from major oil companies will participate in a House Energy and Commerce Committee hearing next week on skyrocketing gasoline prices, but another House panel didn't have as much success getting witnesses to agree to appear.
March 29, 2022