Tag: Engine

New EU Climate Plan Brings End of the Combustion Engine Closer

(Bloomberg) —

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The European Union’s executive will unveil an ambitious emissions-cut plan this week that’ll leave no sector of the economy untouched, forcing wholesale lifestyle changes and stricter standards for industries.

Under a tighter climate target for 2030, European automakers would need to embrace tougher pollution standards, with new rules that could retire combustion engines to science museums. Energy will grow increasingly cleaner, with an additional 350 billion euros ($415 billion) per year required for investment in production and infrastructure. And to help cut greenhouse gases in agriculture, Europeans would be encouraged to eat less meat.

If approved, the new goal to lower emissions in the bloc by 55% from 1990 levels will require buildings to be more energy-efficient, according to a draft European Commission document seen by Bloomberg News. The cost of pollution for companies, already near record highs, is set to rise, as the EU carbon

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A Sputtering Growth Engine Could Ignite an M&A Boom in This Sector

The U.S. oil industry had been growing by leaps and bounds until this year. Output in the country averaged 12.23 million barrels per day (BPD) last year, more than double the production rate of a decade ago and shattering the previous record of 9.64 million BPD set in 1970. Industry forecasters expected that upward trend to continue, with estimates that production would grow to 13.2 million BPD this year and hit 13.6 million BPD by 2021. 

However, COVID-19 obliterated that forecast by upending demand, which forced the industry to cut back on supplies. Visions of continued growth for the pipeline sector have evaporated, which will probably cause it to shift gears. The next logical phase is consolidation, which would enable pipeline companies to cut costs and increase their scale so that they can endure what will likely be several more lean ahead years. 

Business people shaking hands overlaying upward pointing arrows.

Image source: Getty Images.

From boom to

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