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Search resuls for: "Robert Ferris"


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☆ Oil companies made $200 billion in profits in 2022.
  + stars: | 2023-03-03 | by ( Robert Ferris | Alex Wood | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOil companies made $200 billion in profits in 2022. Here's howOil companies such as ExxonMobil, Shell, Chevron, TotalEnergies and BP pulled in record profits in 2022, as the price of crude oil skyrocketed. But those record profits spurred backlash from politicians and others alike. President Joe Biden called it "a windfall of Russia's invasion of Ukraine" and criticized the industry for not investing enough in domestic production. Company executives on the other hand say that Biden's message conflicts with his call to push for greener alternatives.
☆ Oil companies hit with backlash after bringing in $200 billion in profits last year
  + stars: | 2023-03-03 | by ( Robert Ferris | In | ) www.cnbc.com   time to read: +1 min
Oil companies pulled in record profits in 2022, as oil prices skyrocketed. Revenues for the biggest integrated European and American oil companies nearly doubled during 2021. "Oil companies' record profits today are not because they're doing something new or innovative," President Joe Biden said Oct. 31. The industry has said the depiction of oil companies as greedy war profiteers is false. And while oil companies raked in cash in 2022, their fates are closely tied to the price of oil — when it falls, they lose.
☆ How odometer fraud became a $1 billion problem
  + stars: | 2023-02-28 | by ( Robert Ferris | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow odometer fraud became a $1 billion problemAbout 10.5 million cars on American roads have had their odometers tampered with in some way, and about 1.9 million individuals have had their odometers rolled back, according to data firm Carfax. The average cost to those affected is about $4,000. The office of Odometer Fraud Investigation at the U.S. Department of Transportation's National Highway Traffic Safety Administration (NHTSA) estimates that about 400,000 vehicles are sold each year with false odometer readings.
☆ Odometer fraud is a $1 billion problem. Here's how it costs American drivers
  + stars: | 2023-02-28 | by ( Robert Ferris | In | ) www.cnbc.com   time to read: +1 min
A type of motor vehicle crime that costs consumers in the U.S. about $1 billion a year is on the rise, according to data firm Carfax. Average used vehicle prices rose from about $20,000 in December 2019 to about $27,000 in December 2022, according to Cox Automotive. Supply chain disruptions and shortages in new vehicle inventory have pushed more customers to the used market, which in turn has pushed up prices. Those circumstances also are making used vehicles scarcer. "I can't tell you for sure, but I suspect with the recent surge in used car prices, that it's becoming a more enticing tactic for scammers," said Patrick Olsen, executive editor at Carfax.
☆ Why traffic can't be solved with more highway lanes
  + stars: | 2023-02-07 | by ( Robert Ferris | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy traffic can't be solved with more highway lanesTraffic and congestion have been worsening in American cities for decades. But the problem isn't so easy to solve. Experts point to these measures to help to ease traffic flow: wider roads and highways, more public transit and better urban design and planning. In recent years, some economists have been touting the solid benefits of varied congestion pricing that have worked to free up traffic in such cities as Singapore and London.
☆ Why traffic can't be solved with just adding more highway lanes
  + stars: | 2023-02-07 | by ( Robert Ferris | In | ) www.cnbc.com   time to read: +1 min
Traffic and congestion have been worsening in American cities for decades. In 2019, before the pandemic, traffic snarls cost the average American nearly 100 hours and nearly $1,400. Highway traffic eased through 2020 and 2021, during the worst of the pandemic, but now it's back. Some experts say cities need more of everything: widened roads, more public transit, and better urban design and planning. Widening roads alone is a commonly proposed fix, but experts say it's only part of the solution.
☆ Who makes America's semi-trucks
  + stars: | 2023-01-25 | by ( Robert Ferris | Magdalena Petrova | Darren Geeter | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWho makes America's semi-trucksNearly every product Americans touch is carried at some point by a truck. Daimler Trucks is the biggest, through its Freightliner brand. Daimler has about 40 percent market share. Upstarts are boldly promising to deliver electric semi trucks and autonomous driving systems. But some industry analysts say there is not a clear business models for a lot of these innovations yet in long haul trucking.
☆ Making America's semitrucks
  + stars: | 2023-01-25 | by ( Robert Ferris | In | ) www.cnbc.com   time to read: +2 min
"Demand for trucks is, I would say, unprecedented," said David Carson, SVP of sales and marketing for Daimler Trucks North America. "We've seen an incredible demand going through Covid and continuing well into next year. Four companies dominate U.S. truck manufacturing: Daimler Trucks, Paccar, Volvo and Traton. Truck makers are spending billions to replace fuel-burning diesel engines with battery- and hydrogen-powered electric systems. Established truck makers, such as the more-than-century-old Daimler, are balancing keeping their particular and often extremely cost-sensitive customers happy in the present, while investing for an uncertain future.
☆ Toyota is investing $35 billion into EVs. But some say it may be too late.
  + stars: | 2023-01-17 | by ( Robert Ferris | In | ) www.cnbc.com   time to read: +2 min
The world's largest automaker, Toyota , is battling criticism it is behind rivals on electric vehicles, and is even working to try and block the transition to zero-emission electric fleets. It introduced the Prius, the world's mainstream hybrid vehicle in 1997. But in the meantime, other automakers, spurred by ever stricter government regulation and the success of newcomers like Tesla , began investing in fully electric vehicles. "We still think that in 10 years, 50% of new vehicle sales will be gasoline," said Mike Ramsey, a vice president in Gartner's CIO Research Group. Watch the video to learn more about Toyota's singular approach to electric vehicle manufacturing.
☆ Amtrak has pricey tickets and big plans
  + stars: | 2022-11-16 | by ( Robert Ferris | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmtrak has pricey tickets and big plansTaking a train in the U.S. often costs more than flying and more than train systems in other countries, which often have even faster trains and better service. But Amtrak, the federally funded company that runs many of America's passenger trains, has never made money. In 2021 wasn't able to cover half of its expenses from ticket revenue. Ridership is recovering the pandemic. Now Amtrak wants to expand service in a 15-year plan, with $66 billion in funding from the Bipartisan Infrastructure Law.
☆ Why U.S. rail travel is so expensive
  + stars: | 2022-11-16 | by ( Robert Ferris | In | ) www.cnbc.com   time to read: +1 min
Amtrak's Acela is the fastest passenger train in the Western Hemisphere, but tickets can be pricey. Amtrak fares can vary dramatically in the Northeast, home of the most heavily used stretch of track in the railroad's nationwide network, which also includes stops in Canada. But tickets are often more expensive than plane tickets, despite flight times being much shorter than the typical train ride. In November 2021 the federal government allotted Amtrak $66 billion to upgrade equipment and repair and expand its network. Amtrak wants to increase ridership by 20 million annually, and expand into areas around the country with fast-growing populations but little passenger rail service.
☆ Why convertible cars are declining in popularity
  + stars: | 2022-09-22 | by ( Robert Ferris | Jade Tungul | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy convertible cars are declining in popularityGaining popularity in the 1950s and 1960s, the convertible car is an automotive American icon. As a symbol of leisure and fun, some history's iconic models were convertibles, such as the Chevrolet Corvette and the Ford Mustang. However, convertibles have been steadily losing popularity among car buyers and make up only 0.46% of new car sales in 2021. Buyers value practicality and functionality over looks and leisure, leading their interests elsewhere. Can the iconic design stand the test of time?
☆ Meltdown on Three Mile Island: What happened on the day of one of the nation's worst nuclear disasters
  + stars: | 2013-03-28 | by ( Robert Ferris | ) www.businessinsider.com   time to read: +1 min
http://www.flickr.com/photos/subindie/955633308/sizes/l/in/photostream/Nearly half a century ago, one of the worst nuclear disasters in US history shook the nation to its core. The drama began at 4 a.m. on Three Mile Island, located in the middle of Susquehanna River, near Harrisburg, Pa.. Correction: May 19, 2023 — An earlier version of this story misstated Three Mile Island as the worst nuclear disaster in US history. However, it's come to our awareness that the Church Rock Nuclear Disaster was equally devastating. Therefore, we've corrected this post to describe Three Mile Island as one of the worst nuclear disasters in US history, but not the worst.
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