EU to Ban Gas-Powered Cars by 2050?

"The European Commission aims to cut carbon emissions by 60%."

Gasoline-powered cars will be banned from European cities starting in 2050, under a master plan to cut CO2 emissions.

The European Commission yesterday unveiled its plan for a "Single European Transport Area," including proposals to phase out "conventionally fueled" cars from urban areas. The EC foresees halving the use of such vehicles in city centers by 2030, and banning them completely by 2050.

But the UK government has rejected the proposals, ridiculing the idea that it should dictate transportation choices. "We will not be banning cars from city centers any more than we will be having rectangular bananas," Transport Minister Norman Baker said.

The European plan calls for a 40% cut in shipping emissions, 40% use of low-carbon fuels in aviation and for shifting half of journeys above 186 miles from road to rail. These efforts will contribute to a 60% overall cut in carbon emissions, the EC said.

The EC also aims to come close to eliminating deaths by road accidents by 2050, and wants to see freight vehicles in cities become carbon free by 2030.

Transport Commissioner Siim Kallas said the changes don't have to inconvenience people. "Freedom to travel is a basic right for our citizens," he said. "Curbing mobility is not an option, nor is business as usual."

Option Partner to Continue Operations at Energy Firm's Texas Oil & Gas Project
Source: Streetwise Reports (01/23/2021)

The efforts will meet Torchlight Energy Resources' development requirements at Hazel.

Target Price Raised on Energy Firm Making 'Transformative Acquisition'
Source: Streetwise Reports (01/06/2021)

The terms and benefits of Earthstone Energy's purchase of an oil and gas company, an "eye-catching act of deal making," are presented in a ROTH Capital Partners report.

Energy Firm to Combine with Materials, Nanocomposites Company
Source: Streetwise Reports (12/16/2020)

Torchlight Energy Resources sees the transaction providing its shareholders "access to the multibillion-dollar markets that Metamaterial serves."

Oil & Gas Producer Reports on Thailand Operations
Source: Streetwise Reports (12/02/2020)

Pan Orient Energy Corp. reports on continuing drill operations in Thailand.

Energy Company Boosts Thailand Oil Production, Offers 'Low Risk Production Growth'
Source: Streetwise Reports (11/19/2020)

The highlights of Pan Orient Energy's third quarter are presented in a Mackie Research Capital Corp. report.

Texas Oil & Gas Firm to Sell Its Stake in Delaware Basin Project
Source: Streetwise Reports (11/18/2020)

For its interest, Torchlight Energy Resources is to receive $350,000.

Oil & Gas Firm Reports Q3 Operational, Financial Results
Source: Streetwise Reports (11/16/2020)

Pan Orient Energy and its joint venture partner continue producing and selling oil from its L53 Concession in Thailand, which are funding ongoing exploration work there.

Texas Oil & Gas Explorer Completes Fracking of Midland Basin Well
Source: Streetwise Reports (11/11/2020)

The next step for Torchlight Energy's well at Hazel is flowback, which is to start next week.

Altus Midstream Shares Flow Higher on Q3 Earnings and Plans for $1.50/Share Dividend in Q1/21
Source: Streetwise Reports (11/05/2020)

Shares of Altus Midstream Co. traded 170% higher after the firm reported Q3/20 financial results and announced plans to pay a quarterly dividend of $1.50 per share beginning in March 2021.