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.
After Facebook and its family of platforms were down for nearly eight hours on Monday, other social media platforms like Snapchat saw a surge in usage. The social media platform already popular with teens saw a 20 percent jump in activity during Facebook's global outage.
Google's users will now have extensive greener options. The updated services across platforms will allow users to look for eco-friendly routes in Google Maps, book flights with low carbon emissions, and reduce energy usage at home with Nest thermostats.
The recent California oil spill has wreaked havoc on the shores of Huntington Beach as wildlife habitats and potentially some people have been exposed to the 140,000+ gallons of oil in the ocean. Cheddar News was joined by Dr. Deborah Bronsan, President of Deborah Bronson & Associates to learn more about the environmental dangers and how the area can recover from this tragedy.
Shares for Netflix ($NFLZ) surged on survey data that showed people still saw the streaming platform as offering the best content compared to its competitors. A report by investment banking company Cowen Inc. reported the findings, rating it an outperform, and expects Netflix to garner 3.6 million new subscribers in Q3.
Banks are calling on Apple to lower fees for processing payments. The current model allows the tech giant to collect 0.15 percent on each transaction processed through Apple Pay.
