Fuel

The prospect of a Tesla Inc. factory in the Austin, Texas, area has moved a big step closer to reality, after Travis County commissioners on July 14 approved tax breaks the electric vehicle maker requested.

After a torrid rally that saw shares more than double since early May, Tesla Inc. is taking a pause on July 15, even as the broader market rises on the hopes for a coronavirus vaccine.

Joe Biden unveiled plans July 14 to spend $2 trillion galvanizing a clean energy economy, with ambitions to spur millions of union jobs building the wind turbines, sustainable homes and electric vehicles needed to rapidly throttle U.S. greenhouse gas emissions driving climate change.

The trucking industry collectively moved 11.84 billion tons of freight in 2019, according to American Trucking Associations’ annual data compendium — ATA American Trucking Trends 2020 — which was released July 13. That figure is a 3% year-over-year increase from 2018’s 11.49 tons of freight.

OPEC expects demand for its crude oil to rebound sharply next year, surpassing levels seen before the coronavirus crisis, as rival producers struggle to revive output.

A total of 15 states and the District of Columbia have signed a joint memorandum of understanding committing to work collaboratively to advance and accelerate the market for electric medium- and heavy-duty trucks and other vehicles.

U.S. consumer prices increased 0.6% in June, after three months of declines, with a big jump in gasoline prices accounting for over half of the gain.

The nationwide average price of diesel fuel was nearly flat the past week, according to U.S. Energy Information Administration data released July 13.

Oil retreated before an OPEC+ committee meeting this week that may confirm the group’s intention to taper production cuts even as the coronavirus surges in many countries, including the U.S.

Tesla Inc.’s relentless surge continued July 13 amid several upcoming events that include the possible unveiling of new battery technology from the electric vehicle maker, entry into a lucrative new market and the potential inclusion of the stock into the prestigious S&P 500 Index.