Oil prices may be at all-time lows, but it’s still worth buying an electric car | Mashable

For the first time in 34 years, the price of a barrel of oil has dropped to historic lows — below $0 somehow, confusingly — but that shouldn’t erode efforts to go electric, especially for any future car purchases.

Sure, because of coronavirus social-distancing measures in most cities and states, roads are largely empty, cars are parked, most flights are canceled, and the buses and trains that are still running barely have passengers. Even auto insurance companies are recognizing how little we’re moving and offering discounts.

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BP Slashes Spending, Braces For Oil Prices To Stay Low | Forbes

Add BP to the list of oil companies slashing their spending in the wake of tumbling oil prices.

The company said Tuesday it was lowering its budget for exploration and production this year to $20 billion, down significantly from previous forecasts of $24 billion to $26 billion.

“We have now entered a new and challenging phase of low oil prices through the near and medium term,” said CEO Bob Dudley, adding that ”our focus must now be on resetting BP” and maintaining safe operations.

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