Crown Prince Mohammed bin Salman Launches Saudi Arabia’s First EV Brand

Crown Prince Mohammed bin Salman Launches Saudi Arabia’s First EV Brand

Saudi Arabia’s crown prince Mohammed bin Salman has launched the country’s first EV brand, Saudi news agency SPA said on Thursday. The new brand of EVs, Ceer, a JV between Saudi Public Investment Fund (PIF) and Hon Hai Precision (Foxconn) is expected to add $8 billion to the country’s GDP by 2034, and is expected … Read more

Covid Restrictions Force Chinese EV Maker To Suspend Production

Covid Restrictions Force Chinese EV Maker To Suspend Production

China’s Nio, the EV maker, has suspended manufacturing activities due to Covid restrictions amid the latest flare-up in infections in the country. “The news that production at Nio’s factories has been temporarily suspended is true and this will have an impact on production and delivery schedules,” a company representative told Reuters. The latter cited a … Read more

Tesla Cuts Prices in China to Tackle Inflation

Tesla Cuts Prices in China to Tackle Inflation

Photo: CGV/CGV (Getty Images) Elon Musk cut nine percent off the price of a new Tesla, but only if it’s one made and sold in China; Hyundai wants you to know that it’s a luxury carmaker now; and the US is gonna need to mine a whole lot more lithium for all these upcoming EVs. … Read more

OPEC+ members line up to endorse output cut after US coercion claim

OPEC+ members line up to endorse output cut after US coercion claim

US claimed more than one OPEC country coerced into cut Iraq Kuwait, other OPEC+ members, stand by decision Saudi defense minister says decision was purely economic CAIRO Oct 16 (Reuters) – OPEC+ member states lined up on Sunday to endorse a steep production cut agreed this month after the White House, stepping up a war … Read more

Mexico warns Venezuelan migrants not to form caravans

Mexico warns Venezuelan migrants not to form caravans

MEXICO CITY, Oct 15 (Reuters) – Mexico’s government on Saturday moved to discourage the formation of caravans by Venezuelan migrants, saying any who do will not be eligible to enter the United States under a new humanitarian scheme announced this week. Under a plan announced on Wednesday, Washington said it would grant up to 24,000 … Read more

The Implications Of US SPR Withdrawals

The Implications Of US SPR Withdrawals

The Strategic Petroleum Reserve’s (SPR) oil is sold competitively when the President of the United States of America finds, pursuant to the conditions set forth in the Energy Policy and Conservation Act (EPCA), that a sale is required. In the past, oil resources were withdrawn from the SPR to meet domestic oil requirements – such … Read more

The OPEC+ Cut Is A Disaster For President Biden

The OPEC+ Cut Is A Disaster For President Biden

The OPEC+ decision to cut its production quota by 2 million bpd has placed the Biden Administration between a rock and a hard place, with oil prices climbing ahead of the mid-terms and very few viable options to counter it. Oilprice Alert: This month’s Intelligent Investor column, now available for Global Energy Alert members, compare … Read more

Regulating vehicle sales will make life even more unaffordable for Canadians

Regulating vehicle sales will make life even more unaffordable for Canadians

Canadians are facing a cost-of-living crisis due to soaring prices for everything from transportation to housing, clothing, and food. Nearly three in four Canadians report that rising prices are affecting their ability to meet day-to-day expenses. Now life is about to get even more expensive for Canadians with the federal government’s plan to regulate vehicle … Read more

Lithium Is Up 220% And This Is What You Need To Know

Lithium Is Up 220% And This Is What You Need To Know

In the current year, we have witnessed a gravity-defying commodity rally after the shuttering of Ukrainian ports, sanctions against Russia and disruption in Libyan oil production sent energy, crop, and metal buyers scrambling for replacement supplies. Tea price of copper doubled; wheat more than doubled while global indices of commodity prices almost tripled from April … Read more