Fuel

After years of skepticism, criticism and trader furore, the world’s most important oil price is working better than ever thanks to an infusion of crude from west Texas.

Rivian Automotive will receive incentives valued at $827 million from Illinois to expand its electric vehicle plant there after the company halted work on a separate facility in Georgia.

The FTC declined to challenge Exxon Mobil’s $60 billion purchase of Pioneer Natural Resources but asserted that Scott Sheffield must not take a seat on the supermajor’s board.

The national average diesel price continued to go lower, dropping 4.5 cents to reach $3.947 a gallon, according to Energy Information Administration data released April 29.

Tesla eliminated almost its entire Supercharger organization, which has built a network of public charging stations that virtually every major automaker is in the process of tapping into.

Montana is progressing on plans to provide more truck parking along its busiest freight route on Interstate 90.

Air Products plans to build a network of hydrogen refueling stations between Edmonton and Calgary in Alberta for trucks, the industrial gas giant said.

Neste Oyj, a Finnish maker of renewable diesel, will begin a search for a new CEO, as Matti Lehmus stepped down after just two years in the role.

Last year, the demand for loans from fossil fuel companies fell 6% year-on-year and that followed a decline of 1% in 2022.

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