Seeking Alpha author Kirk Spano joins Cheddar to discuss his view on the electric vehicle industry and how it relates to the demand for oil. He talks about fracking and the "peak" of the oil plateau.
Spano suggests that fracking is done accelerating and will most likely only produce 10-11 million barrels a day moving forward.
He believes the takeover of electric vehicles may not happen as soon as people expect. He doesn't see families giving up their cars and dropping everything to go electric. He predicts 1 billion EVs will hit the road by 2040. Additionally, Spano believes oil prices will rise a bit and worries that war may drive up the demand.
Transit technology company Via raised $110 million in a new round of financing. Clara Fain, chief financial officer of Via, joined Cheddar News to discuss the company's mission to digitize public transit globally.
Tesla is recalling nearly 363,000 vehicles with its “Full Self-Driving” system to fix problems with the way it behaves around intersections and following posted speed limits.
