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

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



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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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.
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.