Author: AEN Staff

Ford EVs: Company to invest $11B, add 40 EVs to lineup by 2022

Company to shift investment from sedans, ICEs to trucks and Ford EVs Ford Motor Company says it plans to increase its investments in electric vehicles to $11 billion by 2022 when it plans to include 40 hybrid and fully electric vehicles in its model lineup. The company is upping its investment in electric vehicles from a previously announced target of $4.5 billion by 2020, according to company executives. Reuters reports that some of the Ford EVs will be produced by the company’s joint venture in China and will be aimed at the Chinese market. In October, Ford Chief Executive...

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Oil prices up slightly on signs OPEC cuts are tightening market

Oil prices sit near three-year highs Oil prices rose slightly on Monday as supply cuts by OPEC and some non-OPEC members participating in the cartel’s output reduction pact have helped tighten the market. By 1:41 p.m., EST, Brent was trading 28 cents higher at $70.15/barrel, just shy of session high $70.19/barrel.  US WTI was up 51 cents to $64.81/barrel in thin trading as the United States celebrated Martin Luther King Day. The Canadian Crude Index was even at $41.17. According to Reuters, Bank of America Merrill Lynch boosted its 2018 Brent price forecast to $64/barrel from $56/barrel and is...

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RNC Minerals in talks to fund $1B Quebec nickel, cobalt mine to supply EV battery minerals

RNC Minerals looking to build Dumont mine near Amos, QC Canadian mining company RNC Minerals is planning to build the world’s largest nickel and cobalt project next year. The company is currently lining up commodity traders, mine operators and financiers to secure $1 billion to fund the Dumont Nickel Project. RNC Minerals is looking to cash in on the growing demand for nickel and cobalt prices as electric vehicles become more popular. According to UBS estimates, there will be 15 million EVs on the road by 2025.  As a result, demand for nickel will rise between 300,000 to 900,000...

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Canada pleased Trump suggests extension of NAFTA deadline

NAFTA deadline could be extended beyond March After learning that US President Donald Trump is open to extending talks to modernize NAFTA, Canadian Foreign Minister Chrystia Freeland says Canada is prepared to spend as much time as it takes to make a good deal. In an interview with the Wall Street Journal, Trump said “a lot of things are hard to negotiate” as the Mexican presidential election this summer nears. Other Trump comments to the WSJ included: “We’re moving along nicely,” “There’s no rush,” “I’m leaving it a little flexible,” “We have a chance of making a reasonable deal,” “We’ve...

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T. Boone Pickens closes energy hedge fund to focus on health, other activities

T. Boone Pickens suffered series of strokes in late 2016 In a letter posted on LinkedIn on Friday, T. Boone Pickens says “Today, I’ve decided to walk off the job for a third time and have decided to close the doors on the energy hedge fund I’ve successfully run since 1996.” The 89 year old investor said that after suffering a series of small strokes in 2016 and a serious fall last summer, “it’s time to start making new plans and setting new priorities.” In 1996, Boone Pickens began BP Capital funds after leaving Mesa Petroleum, a company he started...

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