In this episode of the Energy News Beat Daily Standup, the host, Michael Tanner covers the challenges facing the electric vehicle market, including decreased sales, high costs, and political factors. He highlights that consumer interest is waning, with many finding EVs too expensive despite potential tax credits. In finance, oil prices fell 1% due to a crude inventory build, while natural gas dropped 3%. Apache announced $700 million in asset sales to Wildfire Energy, and Phillips 66 acquired Pinnacle Midstream for $550 million. Tanner predicts a strong future for hybrids and midstream assets, given the current market dynamics.

Highlights of the Podcast

00:00 - Intro

01:12 - What’s Going on with Electric Vehicles?

05:34 - Oil falls 1% as US inflation persists, dampened geopolitical risk premium

07:58 - APA Announces over $700 Million in Asset Sales from Two Transactions for Non-core Texas Properties

09:41 - Phillips 66 to Acquire Pinnacle Midstream from Energy Spectrum Capital

11:17 - Outro

Please see the links below or articles that we discuss in the podcast.

What’s Going on with Electric Vehicles?

May 21, 2024 Mariel Alumit

2024 has not been kind to the electric vehicle, particularly in the United States. Sales are down, Tesla laid off staff, and EVs have been caught in the political crosshairs. The future of transportation may […]

Oil falls 1% as US inflation persists, dampened geopolitical risk premium

May 21, 2024 Mariel Alumit

HOUSTON May 21 (Reuters) – Oil prices settled 1% lower on Tuesday as lingering U.S. inflation poised to keep interest rates higher for longer and likely weighed on consumer demand at the pump, while little […]

APA Announces over $700 Million in Asset Sales from Two Transactions for Non-core Texas Properties

May 21, 2024 Mariel Alumit

HOUSTON, May 20, 2024 (GLOBE NEWSWIRE) — APA Corporation (Nasdaq: APA) announced today the sale of non-core producing properties by Apache Corporation and certain of its subsidiaries in two separate transactions with aggregate proceeds of […]

Phillips 66 to Acquire Pinnacle Midstream from Energy Spectrum Capital

May 21, 2024 Mariel Alumit

Transaction advances company’s wellhead-to-market strategy HOUSTON, May 20, 2024–(BUSINESS WIRE)–Phillips 66 (NYSE: PSX) announced today it has agreed to acquire Pinnacle Midland Parent LLC (Pinnacle) from private equity firm Energy Spectrum Capital for cash consideration […]

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