As the oil and gas industry faces increased pressure to curb its climate impacts, the Biden administration is preparing to issue new methane emissions rules that some industry observers say could better position the sector in a decarbonizing world. President Joe Biden has announced plans to curb methane emissions from the oil and gas industry, .
Investors are becoming less enthusiastic about EV startups that merged with SPACs.
The shift comes as value stocks are beating growth stocks and the SPAC market is cooling off.
Conversely, investors are becoming more optimistic about established automakers.
Earlier this year, experts predicted that the surge in electric-vehicle startups going public through mergers with special-purpose acquisition companies, or SPACs, was creating a bubble. In recent months, there have been signs that bubble is starting to pop.
At times in 2020, some of the EV companies that teamed up with SPACs which raise money and go public with the sole purpose of merging with another firm boasted stock prices and valuations that topped those of automotive juggernauts like General Motors and Ford, despite the fact that many of them had yet to deliver a single vehicle. In some cases, they were more than a year away from doing so.
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