This Morning in Metals: General Motors debuts new electric vehicle model

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This morning in metals news: General Motors debuted its 2023 Cadillac LYRIQ electric vehicle; the House Judiciary Committee advanced a bill that seeks to open OPEC up to lawsuits for price collusion; and Texas is set to add a significant amount of utility-scale solar power.

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GM unveils Cadillac LYRIQ EV

General Motors previously announced plans to offer 30 new electric vehicle models by 2025.

This week, the automaker debuted its 2023 Cadillac LYRIQ electric vehicle.

“At launch, LYRIQ will be available with premier technologies and stirring performance capabilities enabled by the vehicle’s dedicated electric architecture,” GM said.

The vehciel features a 12-module, 100 kilowatt-hour battery pack and a rear-wheel-drive Ultium Platform deliver a Cadillac estimated 340 horsepower and 440 Nm of torque — and a Cadillac-estimated over 300 miles of range with a full charge.”

House panel takes aim at OPEC

The House Judiciary Committee this week passed a bill that seeks to open oil-producing alliance OPEC up to lawsuits for price collusion.

“The Organization of Petroleum Exporting Countries, or OPEC, is an international cartel whose members deliberately collude to limit crude oil production as a means of fixing prices, unfairly driving up the price of crude oil to satisfy the greed of oil producers,” US Rep. Jerrold Nadler (D-NY) said in a release. “Such behavior, if done by private companies, would be illegal per se under U.S. antitrust law.”

As a result, the committee moved to advance the No Oil Producing and Exporting Cartels (NOPEC) Act of 2021. The committee passed it via voice vote Tuesday, Reuters reported.

The bill seeks to empower the Justice Department to pursue antitrust enforcement actions against OPEC members.

Texas to add utility-scale solar power

A significant amount of solar power is going to come online over the next two years in Texas, the Energy Information Administration said.

Texas’ added 2.5 GW of solar capacity last year. That marked the beginning of a “solar boom” in the state, the EIA said.

The EIA forecast the state will add 4.6 GW of solar capacity in 2021. Furthermore, it forecast an additional 5.4 GW in 2022. The additions would bring total installed solar capacity in Texas to 14.9 GW, the EIA reported.

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