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From Electrek: Tesla made more money last quarter than the entire US oil industry made last...

Discussion in 'News from Electrek.co' started by RSSFeed, Nov 10, 2016.

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  1. RSSFeed

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    Tesla made more money last quarter than the entire US oil industry made last year

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    While there are nuances to the claim made in this headline, it is technically true since Tesla announced that it turned a profit of $22 million last quarter while the US oil industry managed to lose $67 billion last year due to its inability to stomach lower gas prices, according to the U.S. Energy Information Administration (EIA).

    I think it’s something to consider in this new political climate following the election of Donald Trump. more…

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    • Badback

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      This is great news. So, if Trump accelerates the US oil production with exports the price will drop further and soon the oil companies will be out of money. I love it when a plan comes together.
       
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      • BigBri

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        Agree. Seems like if there is cheaper supply it'd be hurting the companies a lot. Short term emissions may suck but if companies start going bankrupt and the price goes up then EVs will seem even more attractive.
         

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