Our dependence on oil has a sinister side that we tend to lose sight of: Some of that oil we consume — 18 million barrels a day in the United States alone — provides a revenue source for extremist groups to carry out deadly terrorist attacks.
What if President Barack Obama’s biggest achievement on climate change was actually a total failure?
It has been a grim decade for investors in international oil firms—among them, many of the world’s biggest pension funds. In the past 18 months things have gone from bad to worse.
Air pollution is growing worse in urban areas across much of the globe, hitting the poorest city dwellers hardest and contributing to a wide range of potentially life-shortening health problems, from heart disease to severe asthma, according to the World Health Organization.
For the better part of two years now, Americans have been enjoying substantially lower gas prices. That extra savings at the gas pump adds up when you consider the millions of drivers across the country. Has it altered the trend in auto purchases? Are U.S. automakers benefiting as a result? And what could happen if prices at the pump go back up?
There’s no assurance Tesla can scale up that quickly, especially because it is still struggling with the launch of its new Model X.
The argument among those marketers and retailers that have embraced the fuel is that E15 fuel allows them to market a cleaner-burning, higher-octane fuel that can technically be used by more than 200 million cars on the road today, and it can typically cost less than the E10 competitors are selling.
After plunking down more than $2.5 billion for drilling rights in U.S. Arctic waters, Royal Dutch Shell Plc, ConocoPhillips and other companies have quietly relinquished claims they once hoped would net the next big oil discovery.
“[Americans] love oil. We love gas. We’re a mobile society. And I’m not too worried about the so-called glut because we will eventually use it up,” he said.
If Tesla Motors can’t resolve any or all of these issues, the company will be in trouble. Specifically, its “brand, business, prospects, financial condition and operating results could be materially damaged.”
