Boston-Power Industry Reports
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Global transportation and fossil fuels are inextricably linked. More than 60% of the 87 million barrels of oil consumed every day powers the world’s transportation system and liquid fossil fuels account for more than 96% of the current energy supply to the transport sector. Even in optimistic scenarios, fossil fuels will remain the primary source of energy in the transport sector for at least the next two decades.
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Needham & Company, LLC reported that the quarter billion-plus ($286 million) of announced capital investment over the past two business days suggests a healthy appetite for the electric drive industry.
