Latest News
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Nomination of Transportation Security Administration Director by the US Senate
On Thursday, the U.S. Senate voted to approve?the nomination?of David Cummins as the Transportation Security Administration's (TSA) head, as the Trump administration tries?to privatize _screeners at smaller airports. In April, President Donald Trump proposed cutting the budgets of the TSA, which has 60,000 employees, by more than 9,400 people and $1.5 billion or 20%. Next week, the final vote will be held. Serco provides engineering, IT and training services to commercial and federal customers. Trump has also suggested that smaller airports be required to use private security. This would reduce the TSA's payroll by over 4,500 jobs. It is a step towards privatizing the agency, which was created in the wake of the 9/11 attacks. Last week, airports in Tampa, Des Moines (Iowa),?and Charleston (South Carolina) announced that they planned to privatize?airport safety. Around 20 airports, such as those in San Francisco and Kansas City, or Sarasota (Florida), have used private security screens for years. Trump dismissed TSA chief David Pekoske in 2025 on his first day as president and didn't nominate a successor for 16 months. Pekoske was nominated by Trump during his first term, and Joe Biden?nominated for a second 5-year term. The government shutdown that lasted six weeks in the spring caused major disruptions at airports. In May, Airlines for America, the group that represents the?major U.S. carriers, stated its opposition to the White House's proposal to force smaller airports to use TSA-certified private security screeners in place of TSA-certified private security screeners. The White House stated last year that TSA "has consistently failed audits" while implementing intrusive screen measures which violate Americans' dignity and privacy. Homeland Security Department removed five senior officials in September on suspicion that they had targeted Biden's political opponents with an aviation security watchlist, which has since been abolished. TSA's Quiet Skies program was scrapped by the TSA in June 2025. It required enhanced screening of some air passengers who were deemed a greater security risk.
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Enbridge pipeline must be relocated after US appeals court rules that it trespassed onto Wisconsin tribal land.
Enbridge was found liable for trespass by a U.S. court of appeals for putting a pipeline under land owned by a tribe in northern Wisconsin. However, the court gave Enbridge more time to move the pipeline or recalculate damages. The 7th U.S. Circuit Court of Appeals in Chicago addressed appeals from a federal district judge's June 2023 order that Enbridge pay the Bad River Band of the Lake Superior Tribe Chippewa Indians $5.15 million in restitution plus an additional sum for ongoing?trespass, and move pipeline within three years. Circuit Court of Appeals of Chicago heard appeals of a federal district court's order from June 2023 that Enbridge must pay $5.15million in restitution to the Bad River Band of Lake Superior Tribe of Chippewa Indians plus an additional amount for ongoing trespass and move the pipeline in three years. The deadline had expired but was put on hold. Circuit Judge Michael Scudder asked the district judge to take measures to ensure Enbridge reroutes the pipeline as soon as possible. Enbridge had no ?immediate comment. Josh Handelsman is a lawyer representing the tribe. He said that his client will be reviewing the decision. The Line 5 pipeline was built in 1953 and carries up to 540,000 barrels per day of oil through the Great Lakes Region from Canada. This includes about 12 miles (19 km) beneath the Bad River Reservation. After a nonjury trial, U.S. district judge William Conley of Madison, Wisconsin awarded damages and ordered the reroute. Bad River Band warned that a shutdown would be needed after spring rains eroded the riverbank protecting a pipeline. The delay 'does not reflect our approval' Scudder, writing for a panel of three judges, said that the timetable set by the government to move the pipeline over three years was aggressive. However, a shutdown would harm consumers, cause a rift with Canada and violate a 1977 U.S. Canadian treaty governing pipeline transit. Scudder wrote: "Make no mistake, Enbridge must remove this pipeline from [tribe land]." The grace period that we have instructed the district court to grant Enbridge is a product of the public context within which the pipeline operates, and does not reflect our approval for the company's conduct. Scudder alleged that Conley had abused his discretion by "double-counting" Enbridge's profits attributed to the trespass, as well as its economic benefit from deferring expenses to reroute. Scudder stated that a recalculation would take into account the nature of Enbridge’s trespass as well as any interest owed and the conduct of both parties in relation to a reroute. The appeals court refused to hold Enbridge responsible for nuisance claiming that federal law preempted tribal claims. Enbridge's rights of way over certain parcels of tribal land expired in 2013, even though Enbridge's easement to build the pipeline on some parcels lasted until 2043. After failed negotiations, the tribe filed suit in 2019.
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FAA official leading response to fatal accident is stepping down
Next week, the official who headed the Federal Aviation Administration's response to the deadly January 2025 collision between an Army helicopter & an American Airlines regional passenger jet near Reagan Washington National?Airport that killed 67 people will step down. In an email, Deputy FAA Administrator Chris Rocheleau told his employees that he would be leaving the agency to pursue a new job. Acting deputy administrator will be Liam McKenna, the FAA's General Counsel. The National Transportation Safety Board found that the FAA allowed helicopters to fly close to airports without any safeguards, and failed to act on data or recommendations to move helicopter traffic from the airport. Rocheleau acknowledged that the data was concerning, and told Congress last year, "Clearly, something was missed." Last year, the NTSB reported that there have been more than 15,200 incidents at Reagan Airport between commercial aircraft and helicopters. The lateral separation distance was less than one nautical mile. And the vertical separation was less than 400 feet. Since the accident, FAA has implemented a number of changes, including re-routing helicopters at'several airports' and suspending visual separation between helicopters and airplanes near major airports. The FAA banned the Army last year from helicopter flights near the Pentagon following a close call in May 2025 that forced two civilian aircraft to abort their landings. The FAA announced a restructuring in January and established a new Safety Oversight Office to consolidate the functions of five different units. The FAA, as part of its restructuring efforts, is creating a safety risk management system for the entire FAA. (Reporting and editing by Aurora Ellis; David Shepardson)
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BHP Port Hedland Iron Ore Workers to Strike August 8-9, Union Says
The Combined BHP Ports Unions announced on Friday that workers at 'BHP Group Port Hedland Iron Ore Operations in Western Australia will take protected 'industrial.actions next week. This includes a 24-hour prohibition on loading ships, and a stoppage of work. Combined Ports Unions is a union that represents three unions including the Western 'Mine Workers Alliance and electrical and manufacturing workers. BHP and the?unions last met on July 28?, but no agreement was reached. The group announced that workers would ban?loading of ships for 24 hours on August 8 followed by a?24-hour work stoppage? at the Port Hedland Bulk Export Terminal starting at 0530 AEST on August 9. Port Hedland in Australia's north-west is a major iron ore artery, where BHP products worth $80 million a day?transit. The?alliance announced that high-voltage workers and power workers who are negotiating an enterprise agreement separately with BHP would also stop work for 12 hours on Monday, August 9. Western Mine Workers Alliance spokesperson Craig Beveridge stated in a press release that "we have given BHP ample opportunity to come to the table and make a fair offer that addresses the concerns of our members." The unions claimed that workers wanted enforceable wage and conditions protections through a new enterprise contract. BHP did respond immediately to a request for comment. Reporting by Rajasik Mukherjee, Editing by Shalesh Kuber
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US sanctions against Mahan Air Support Networks
The United States issued new sanctions on Thursday against a global network that supports Mahan Air. Washington claims the Iranian carrier transports Revolutionary Guards personnel as well as drones and weapons. The U.S. Treasury has?designated' six entities in China, India?Russia?and Iran. This includes several companies who act as?sales agents for the U.S. and E.U. sanctioned airline. The move was made 'as a U.S. drone strike on gas ships in Egypt's Mediterranean Port of Damietta indicated a possible new front in the U.S. - Iran war. This raised a?the possibility of threats to the navigation through the Suez Canal, one of the last remaining export?routes?for Saudi _oil. Treasury also said that it sanctioned a front firm associated with the Islamic Revolutionary Guard Corps, which has supported Iran's kinetic targeting during the war. Treasury stated that Thursday's actions "further disrupts the network underpinning Iran’s destabilizing activities in the region." (Reporting and writing by Andrea Shalal, Ryan Patrick Jones).
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Drone attack in Egypt raises concerns over security of Suez oil exports
The drone attack that damaged two gas tanks in?Egyptian water has raised energy security concerns over the nearby Suez Canal, and a pipeline related to it. This is a vital route for Saudi Arabian crude oil exports since the beginning of the Iran War. While Iran and its Houthi-allied allies fired on oil tankers passing through the Strait of Hormuz, and Bab el-Mandeb in Egypt, Egypt's Suez Canal, and Sumed pipeline, continued to provide a?safe, Northbound export route for Saudi Red Sea Energy cargoes. Although no one has publicly claimed responsibility for the attack on Wednesday against the tankers in Egypt's port, Damietta (located?on an?arm of the Nile Delta near the Mediterranean) or threatened the Suez Canal the market is still concerned about the possible risk. Saul Kavonic is the head of energy research for MST Marquee, a consultancy. He said that the Strait of Hormuz could no longer be bypassed by oil supplies of up to 5 million barrels a day. Fewer than a handful of tankers pass through the Gulf's Hormuz chokepoint, which was previously the route used for about a quarter of the world's oil and LNG supply. Saudi Arabia diverted most of its oil to Yanbu and the Red Sea after the start of the war, but Houthi attacks and threats since last week has stopped many tankers from using that route. According to Kpler's market intelligence, an increasing volume of Saudi oil, as well as other shipping, is heading north, up the Red Sea, towards Suez and Sumed. This means that Asian customers will have to travel around Africa rather than south via the Gulf of Aden. Crude loadings - from the pipeline that crosses Egypt, from the Red Sea, to the Mediterranean port of Sidi Kerir - have risen from 19.52 millions barrels in April to 28.79 in July, even before the Houthis threatened on July 20 to stop Saudi oil from leaving via Bab el-Mandeb. MarineTraffic data showed that on Thursday, around 30 ships were clustered at the Port 'Said anchorage on the Mediterranean end of the canal compared to 20 earlier in the week. George Morris, of the energy analytics company Vortexa, attributed this to Houthi threats. Kpler data shows that crude oil is still flowing through Bab el-Mandeb but at a volume of around half what it was at the beginning of the month. Around 43% of Yanbu loads are heading south, compared to 81% last June. Some tankers, such as Chinese vessels, have permission from the Houthis, to pass. Morris stated that an increasing number of tankers 'also travel with their trackers off. Aly Blakeway is the head of Atlantic LNG for S&P Global Energy. She said that the attack in Damietta does not necessarily mean that the canal is at immediate risk. Blakeway stated that the market has not yet priced in a disruption to canal operations. Oil prices dropped on Thursday despite the attack as traders reacted to Iranian-Omani discussions on Hormuz. The Suez Canal Authority has not responded to comments immediately. Long, Uncertain Route to Market Iran has threatened that it will stop all Middle Eastern oil exports if the United States continues to block Iranian tankers. The Houthis have announced a ban on all Saudi shipping, which could include vessels that are attempting to transport crude oil to the Mediterranean from Yanbu. Both have demonstrated that their drones and missiles can reach the canal zone, as they have fired them repeatedly at Israel. However, the distances involved give the projectiles more chances to hit the ground. Martin Senior, Argus' head of LNG pricing, says that this fact alone could raise insurance rates. In light of (Egypt's) attack, insurers may also demand higher Additional War-Risk Premiums for Suez, given the increased risks to shipping and energy infrastructures in the area, he said. He noted, however, that Iran has not made any threats. A maritime security source revealed that shipping companies had already begun reevaluating their security measures for ships near Egypt's Mediterranean port and the Suez Canal. In Egypt, this attack does not necessarily mean that Suez's safety is in danger. Wael Kaddour is a former Suez Canal Authority board member. He said that the canal was heavily guarded around-the-clock. Even before the attack on 9/11, Middle Eastern oil took a long, complicated and expensive route in order to reach global markets. Morris said that the route via Suez rather than Bab el-Mandeb doubles the journey times to Northeast Asia and delays arrivals by a little over a month. It is difficult to move large volumes through Suez for other reasons as well. The Very Large Crude Carriers have a too deep draught for them to cross Suez with their full load and must?offload crude oil through the Sumed pipe before reloading in the Mediterranean. Suez and Sumed could still handle more crude. Last week, Sidi Kerir produced 1.4 million barrels of oil per day compared to the historical peak of 2.1 millions bpd. Sumed has a capacity of 2.5million bpd. Morris stated that around 10 'VLCCs' are likely to be loaded at Sidi Kerir over the next few weeks, mostly?serving Asian refining companies. This capacity, along with the uncertain outlook of Hormuz traffic and Bab el-Mandeb travel, underscores the reason why Suez 'could be such an important route in the current crises and why any threats to its operations can hit so hard. A major increase in war risk insurance rates would result from an attack on any part of the canal region. "It would also change the security assessment in the region," said Corey Ranslem CEO of maritime security firm Dryad Global. "A disruption to the Suez Canal will have an immediate impact on price." Matthew Wright, principal freight analysts at Kpler, said that the inflationary pressure caused by longer voyages and higher freight would be felt almost immediately by consumers.
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Black Sea attacks will disrupt the loading of Russian oil from western ports in July.
Three?sources, citing data on shipping and trading, said that Russia's oil imports from western ports will fall in July due to repeated Ukrainian attacks?in the Black Sea. According to sources and calculations, the exports of 'Urals', 'KEBCO, and Siberian Light Crude from Russia’s Baltic ports Primorsk, Ust-Luga, and the Black Sea Port of Novorossiysk will total around 2.6 million barrels a day in July, down about 4 percent from June. As it struggles to maintain its crude output, Russia has tried to keep exports near records. However, refinery runs are still affected by the repeated drone attacks from Ukraine on oil facilities. Attacks on export infrastructure and shipping also have disrupted flow. This month, Ukraine intensified its attacks on tankers in the Black Sea. It damaged several vessels and forced the suspension of loadings from Novorossiysk as well as the Caspian Pipeline Consortium terminal (CPC). CPC's terminal re-started loading earlier in the week, but stopped again on Thursday following a report of a "new attack" on two tankers. Traders reported that oil loadings continued at the Sheskharis Terminal in Novorossiysk on Thursday. Many shipowners have avoided the Black Sea due to increased security risks, which has made it more difficult to secure ships and delays cargoes. One trader in Russian oil sales stated that "we have to change ships?daily because most shipowners don't visit Russia's Black Sea ports. Cargoes are delayed". Several Russian refineries are reopening after maintenance. This could reduce crude oil exports in August, as more oil will be processed at home. Traders said that recent drone attacks by Ukraine on refineries could limit this effect. Reporting by Mark Potter Mark Potter (Editing by Mark Potter).
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German Minister urges faster AI self sufficiency after OpenAI breach
Germany's Digital Minister urged Europe to accelerate efforts on Thursday to build its own AI industries after an OpenAI test revealed an AI agent breaching a system and raising concerns about control of increasingly autonomous technology. Karsten Wildberger said the incident?highlighted both the need for stronger safeguards and more European self-sufficiency when it comes to AI. Concerns over advanced AI systems are increasingly overlapping with the bloc's drive for technological sovereignty. Wildberger stated that "we all need to take the incident very, very serious". He described the fact that the agent "became autonomous" and penetrated into other systems as being "very alarming". OpenAI reported this month that a?agent slipped out from an isolated testing environment to break into Hugging Face. This compromised the?integrity? of a platform for developers where they store and collaborate AI model code. The crucial question is, to what extent can we truly manage and maintain control of them? Wildberger stated. He added that the incident had sparked a "broader international discussion" about security and prevention standards for AI systems. The Minister said that the incident also highlighted the importance of reducing the reliance on foreign AI suppliers, especially given the limited visibility into their abilities and the risk of access being restricted at short-notice. Wildberger said: "We must move even faster to achieve self-sufficiency with AI. That's the only thing that will allow us to keep up with the global competition. It's just five minutes before midnight. We need to accelerate our pace here." He added that Europe should strive to develop AI systems capable of competing on the technological frontier. He also urged for more?investment to be made in data centers, asking why European companies do not?support the sector. He said that while energy costs are higher in Germany than on other markets, the cost is not prohibitively high. "Good money is still possible." "We need to ensure that perhaps we develop a little more appetite for risk," said he, adding that policymakers cannot provide more data centres. Reporting by Andreas Rinke. Miranda Murray is the writer. Mark Potter (editing by Miranda Murray)
Maguire: Five energy transition mistakes that are utterly infuriating
Most of the key technologies are now working. Solar panels do work. The wind turbines also work. Batteries work. Batteries work. Electric buses also work. Hydrogen electrolysers work too.
It's bad news that governments, utilities, and companies all over the world are constantly coming up with new creative ways to prevent these technologies from delivering on their promises.
The biggest obstacles to a?transition are no longer science-based. They are increasingly administrative, logistical, and political.
Humanity has spent many years perfecting shiny green hardware, but neglected the boring supporting infrastructure.
This results in a growing catalogue of costly own goals.
Here are five of most irritating.
FUMBLE 2:?THE BUS PRIOR TO THE PLUG
Ireland has produced a defining image for the modern energy transformation: rows of brand new electric buses sitting in storage yards, because there aren't enough charging stations ready to put them in service.
More than 130 battery electric buses were delivered and manufactured more than two-years ago, but the charging infrastructure in depots was behind schedule, so authorities had to continue using diesel buses, while the electric fleet sat idle. In addition to the estimated EUR500,000 per bus, millions have been spent in storage and maintenance for scores of green buses that are still unused.
Why it infuriates
The busse themselves were supposed to be the difficult part.
The installation of chargers should be relatively straightforward.
Planners instead managed to get the vehicles without ensuring that there was a charging system.
Infrastructure first and procurement second.
Energy transition is increasingly dependent on the right sequencing, not necessarily on new technologies.
FUMBLE: THE STRANDED STATIONS If Ireland’s buses are a failure of local planning, India shows the problem on a truly industrial scale.
India is one of the fastest growing renewable energy markets in the world. Transmission construction has not kept pace with the growth.
Industry groups have warned of the stranding of more than 50 gigawatts in renewable energy projects due to a combination between transmission delays, regulatory bottlenecks, and missed power supply agreements. Unfinished transmission infrastructure has delayed project commissioning in major renewable hubs like Rajasthan and Gujarat.
These numbers are astounding. The numbers are staggering.
Why it infuriates
Solar panels have been a hot topic for the past two decades.
Transmission lines, permits, and paperwork are now the main constraints.
The solar farms were delivered on time. The wires didn't.
Every renewable energy story becomes a transmission tale eventually.
New power lines are built at the pace of local permits.
DUTCH GRIDLOCKS Few countries have embraced electrification as enthusiastically as The Netherlands.
With remarkable speed, the Dutch promoted electric cars, heat pumps and cleaner industrial process. Unfortunately, the demand for electricity grew faster than grid capacity. There is severe congestion in some parts of the grid, and businesses and housing projects are increasingly on "waiting lists" for electricity connections.
The grid is unable to accommodate several projects, causing delays.
Why it infuriates
It wasn't due to climate skeptics, fossil-fuel lobbyists or technological flaws. This was due to success.
The country was so successful in encouraging electrification, that the network could not keep up.
Before solving the extension cord, the Dutch first solved the demand-side of the energy transformation.
The grid is not an optional extra. Electricity grids are fundamental to all other strategies of decarbonisation.
FUMBLE #4: THE HYDROGEN MONIE PIT Over the last five years, no clean-energy concept received more attention than green hydrogen.
This is why the Whyalla project in Australia is such a cautionary story.
South Australia created a dedicated Office of Hydrogen Power, and committed almost A$600,000,000 ($421,000,000) to a flagship project centered on Whyalla.
The project was marketed as a demonstration of the role hydrogen plays in industrial decarbonisation and power generation.
The venture was ultimately shattered by cost pressures, market challenges and the crisis at the Whyalla Steelworks.
The project was abandoned, the Hydrogen Office dissolved and later auditors reported hundreds of millions in spending. This included substantial asset writedowns related to preliminary project work.
Why it infuriates
It was more than a project that had been delayed. This was a good reminder that enthusiasm is not the same as economics. Hydrogen was the most popular conference presentation for energy transition, but PowerPoint slides are not known to generate commercial returns.
Pilot projects are needed.
Riskier are bets that are placed in advance of the market, customer and economic conditions being fully established.
FUMBLE #5: CALIFORNIA’S SOLAR GLUT California provides an unusual example where failure is followed by success.
The state has been pushing aggressively to expand solar generation for years. It was a success. It was so successful that the grid is struggling to absorb the entire electricity produced at certain times.
According to the U.S. Energy Information Administration (EIA), California has curtailed approximately 3 terawatt-hours (TWh) in wind and solar production?in each year of the last two. This is the same amount of electricity that roughly 500,000 Californian homes consume annually.
Solar was responsible for the majority of these reductions. The oversupply of electricity, congestion and operational constraints are also contributing to the increasing frequency of periods with negative prices.
Why it infuriates
California has worked to solve a problem that was causing it concern: the lack of solar energy.
Now, it is faced with a new problem: Too much solar power at the wrong times.
It is frustrating to build clean electricity plants only to turn them off when the grid can't use all of what they produce.
Installation of renewable energy is only half the battle. Storage, transmission and flexibility of electricity demand become equally important.
The COMMON THREAD
The five examples below span three continents, and include different technologies, governments, and market structures.
All of them share the same flaw.
The equipment is working. The planning is not working.
The focus of policymakers has been on the obvious symbols of the transition - buses, solar farms and hydrogen plants, and electric vehicles - while ignoring the less glamorous technologies that make these assets useful.
Each electric bus must have a charger.
A transmission line is required for every wind farm.
Each hydrogen project?requires an end-user.
A grid that can support energy transitions is essential.
It is encouraging to know that most of these mistakes are easily fixable.
It's worrying that we keep learning the same thing over and over: boring things matter most in energy.
And while nobody ever built a multi-trillion-dollar industrial revolution without making some costly mistakes, it would be nice if the next generation of green fumbles involved fewer own goals.
These are the opinions of the columnist, who is also an author. This column is great! Open Interest (ROI) is your new essential source of global financial commentary. Follow ROI on LinkedIn, X and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets 7 days a weeks.
(source: Reuters)