Thanks to Covid-induced supply chain issues and Russia’s war with Ukraine, oil prices have jumped to over $100/barrel. That and the dearth of refining capacity(converting crude oil to gasoline/diesel) has pushed the price of gasoline and diesel to record highs. One way to combat these prices is conservation — the less fuel we use, the less fuel we need to pay for, and if everyone uses less fuel then the price of oil will drop. Russia was supplying about 11% of the world’s oil and the lockdowns of 2020 due to Covid-reduced fossil fuel demand by about 20% which brought the price of oil to zero (for a short period). This demonstrates the principle of conservation crashing prices and defeating fuel price inflation.
Supply chain issues brought on by the pandemic have been particularly challenging for the automotive sector. A global chip shortage among an onslaught of supply chain obstacles have adversely affected the entire industry. Tesla’s vertically integrated strategy proved to be very advantageous when facing these supply chain challenges.Read More
The mayor of a municipal area in the north of England called on Elon Musk to build a gigafactory for the production of electric vehicles in Tees Valley. The offer comes after the head of Tesla said that the company intends to have up to 12 factories around the world.Read More