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.
Share:
More In Technology
NYC's Mayor Invests First Paycheck in Cryptocurrency
New York City Mayor Eric Adams plans to convert his first paycheck this week into two cryptocurrencies.
Intel Building $20B Ohio Chip Facility Amid Global Shortage
Intel will invest $20 billion in a new computer chip facility in Ohio amid a global shortage of microprocessors used in everything from phones and cars to video games.
Fed Remains Non-Committal in Long-Awaited Central Bank Digital Currencies White Paper
The 40-page paper was widely seen as the first step in doing just that, but the document provides only partial hints as to if the Fed is supportive of a central bank digital currency.
Adoption of China's Digital Yuan Expands Ahead of Beijing Olympics
The People's Bank of China (PBOC) announced on Tuesday that 261 million individuals, or about a fifth of the country's population, have now set up digital yuan wallets.
AT&T, Verizon Pause Some New 5G After Airlines Raise Alarm
AT&T and Verizon say they will delay some new 5G wireless service after the airline industry raised alarms about potential interference with important systems on planes.
GreenPower Motor to Bring All-Electric School Buses to West Virginia in 2022
GreenPower Motor Company CEO Fraser Atkinson joined Cheddar News to discuss Gov. Jim Justice's plan for West Virginia to reduce carbon emissions in 2022 by adding a school bus fleet of B.E.A.S.T.s — or battery-electric automated school transportation. Atkinson discussed why the state was perfect for manufacturing electric buses, and the economic impact its facilities will have on the region. He also noted a health impact the new vehicles could have, citing research that children from kindergarten to sixth grade are most at risk for cancers and respiratory illnesses due to exhaust pollution.
Crypto Community Pressures Stablecoins to Make Their Reserves Transparent
Two of the biggest names in crypto had a public spat this week over whether stablecoin issuers should have to reveal to the general public what's in their reserves.
LodeStar Works CEO on Finding Non-Political Solution to Gun Violence With Smart Tech
Amid a rise in gun-related deaths in 2021, a smart technology solution is being touted to help personalize and secure the use of firearms for owners in hopes of preventing unauthorized use and accidents. Gareth Glaser, president and CEO of LodeStar Works talked with Cheddar about adding fingerprint or smart tech locks to its 9mm handgun as a way of addressing the deadly issue without a partisan viewpoint. "We felt a technical solution would be the best way to go," Glaser said. "It's nonpolitical, and it actually addresses the product itself as opposed to a cultural issue."
New Money Podcast Explores Crypto Investing, Web 3.0, and More
As the cryptocurrency and digital asset space continues to evolve and grow, one podcast launching on Spotify's new video podcast platform aims to inform listeners about the various uses and developments in the crypto world. 'New Money' features guests from the entertainment and sports worlds discussing building wealth in the crypto space, creating NFTs, working on digital contracts, and more. Solo Ceesay, co-host of the 'New Money' podcast and co-founder of creator-focused social media platform Calaxy, joins Cheddar News' Closing Bell to discuss what the podcast will explore, its guest lineup, how they verify content amid broader crypto speculation, and more.
