Latest News
-
Research shows that battery electric cars emit 73% fewer emissions than conventional vehicles
According to the International Council on Clean Transportation, battery electric cars sold in Europe emit 73% fewer greenhouse gases over their lifetime than gasoline equivalents. The ICCT stated that other powertrains such as hybrids and plug in hybrids show marginal or no progress when it comes to reducing climate impact. Why it's important After the European Parliament backed a softerening of rules, European automakers may have more time to meet EU C02 emission targets for cars and vans. They could also reduce the potential fines. The ICCT stated that only battery electric cars could deliver the large-scale emissions reductions needed to tackle Europe's most pollution-producing transport mode. Passenger cars account for almost three-quarters the sector's emission, according to the ICCT. The research firm added that while hybridization has some benefits, they are small compared to the savings in emissions from battery electric cars, making it inadequate for meeting long-term climate goals. By the Numbers The company stated that plug-in and hybrid cars emit only 20% and 30% less emissions over their lifetime than gasoline. This is because plug-ins use electricity much less than was previously believed. ICCT stated that Europe's electricity mix decarbonizes faster than expected. By 2025, renewable sources of energy are projected to make up 56% (an 18-point jump) of the electricity generated in Europe. KEY QUOTES Marta Negri is a researcher at ICCT. She said that battery electric cars are cleaner than expected in Europe and perform better than all other technologies including hybrids and pluggin hybrids. She added that "this progress is due in large part to the rapid deployment of renewable energy across the continent, and the greater efficiency of battery-electric cars." (Reporting and editing by Matt Scuffham; Amir Orusov)
-
Mexico announces measures to increase state control over the skies
Mexican officials announced on Tuesday that they want to increase state and military control of the country's aviation system, and include increased subsidies and investment in order to boost regional airports which have been neglected for a long time. Claudia Sheinbaum, the president of the United States, has redoubled her efforts to follow the path of Andres Manuel Lopez Obrador who, as her mentor and predecessor, handed control of several public airports over to the military, and revived the bankrupt airline Mexicana. David Sandoval is the deputy director at Grupo Mundo Maya - a military-run airport operator. He said that both the federal and state government are offering incentives for services, ranging from parking and landing fees to checked luggage. He called the newly opened Tulum airport a "cherry-on-top" success. Analysts have stated that the airport already draws traffic from nearby vacation hub Cancun operated by ASUR. The airports run by the military also have lower tariffs for their use than other airports. The military was given the task of increasing traffic to older regional airports that are unprofitable. Eric Mario Barrera is the technical corporate director at Mexico City Airport Group. He said that they are working to upgrade infrastructure and attract airline interest. He said airports in Sonora like Guaymas have been "a bit of a hassle" because they are under-trafficked and the facilities are neglected. Before leaving office, Lopez Obrador began a massive expansion at the port of Guaymas to transform it into a major export hub. Raul Revuelta is the CEO of GAP airport operator. He said that many regional airports do not break even, and need about one million passengers per year to be profitable. Officials insisted that profit was the priority but also mentioned a social mandate, to serve areas where private operators and airline companies failed to reach. Sheinbaum said last week that Mexicana was "by the people and for the citizens" and "would fly wherever you are." Mexicana's projected losses were expected to last for almost a decade when it relaunched its services in 2023. Carlos Merino said that the administration is considering more public-private partnership after seeing signs of success in a joint venture between Mota Engil and airports at Tepic and Puerto Escondido. (Reporting and editing by Richard Chang; Kylie Madry)
-
Boeing deliveries to China jump from 8 to 60 in June
Boeing, the U.S. aerospace company, announced on Tuesday that they delivered 60 aircraft in June. This is a 27% rise compared to the same month last year. Eight of these airplanes were delivered to Chinese customers, the first since the end of a trade dispute between the U.S. Beijing banned the delivery of Boeing aircrafts in April, when a dispute over tariffs escalated between two of the world's largest economies. But in May, Beijing lifted the ban after the two countries agreed on a temporary reduction in tariffs. Wall Street closely tracks aircraft deliveries because the planemakers receive a large portion of their payments when they deliver jets to their customers. Boeing is attempting to recover from production crises and setbacks which have burdened it with debt. The importance of increasing deliveries in order to stabilize its finances has been highlighted. Boeing delivered 42 of the 737 MAX jets that are its most popular, as well as nine 787s and four 777 Freighters. Three 767s will be converted by Boeing's Defense Division into KC-46 aerial refueling tanks. Southwest Airlines has taken delivery of 10 737 MAX aircraft. Five of the 737 MAX aircraft were delivered to Chinese airlines. Boeing delivered three more jets to Chinese clients, including two 787s and a 777 freighter. The company has delivered 45 jets in June 2024, and 44 the month before. Boeing delivered 280 aircraft in the first half 2025. This included 206 737 MAX, 37 787s (including 14 767s), 20 777s, and three older 737 models that will be converted into P-8 Poseidons - a naval reconnaissance plane. Boeing received 116 new gross orders in June. This included 54 737 MAXs and 62 787-8s. Alaska Airlines purchased 12 737s and British Airways bought 32 787s. Singapore Airlines cancelled three 737 MAX orders in June. Boeing data shows that June's orders were down from May's, when Boeing had its sixth highest monthly order total in history. The planemaker booked 668 net orders in the first half of this year. Airbus, a European competitor, reported that it delivered 63 aircraft to customers in June. Eight of them were widebody aircraft, three A330s and 5 A350s. 43 were single-aisle A320 or A321 jets, which compete with Boeing's 787, and 12 regional A220 jets. (Reporting and editing by Bernadettebaum and Aurora Ellis in Seattle)
-
CANADA-CRUDE-Discount on Western Canada Select narrows
The discount between West Texas Intermediate and Western Canada Select futures, the North American benchmark, was slightly higher on Tuesday. Brokers said that WCS for August deliveries in Hardisty Alberta was trading at $10.25 per barrel below the U.S. benchmark WTI. This is 5 cents higher than Monday's settlement of $10.30. The summer and the return to road construction season is a strong season for Canadian heavy crude. This is used by U.S. refiners to make asphalt. * The WCS Discount has increased slightly since last week, when wildfire concerns in Canada's oil producing regions temporarily tightened the discount. The price of Canadian crude oil remains historically high, partly due to the Trans Mountain expansion pipeline, which increased the country's ability to export oil to Asian markets. (Reporting from Georgina McCartney, Houston)
-
Ecuador's OCP Heavy Crude Pipeline suspends pumping once again
The company stated that Ecuador's OCP Heavy Crude Pipeline suspended pumping Monday just hours after it resumed operations. This was done as a precaution because of the erosion in the Quijos River, according to a Tuesday statement. The OCP pipeline has been suspended for the second time in the last month. The previous suspension was due to erosion on the Loco River in Ecuador's Amazon region. Since 2020, erosion along the Coca River has spread, damaging oil infrastructure, roads, and now the Coca Codo sinclair hydroelectric facility, the largest one in Ecuador. Official data shows that Ecuador's crude production fell on Monday to 134.153 barrels per daily (bpd), including the output of Petroecuador, the state oil company, and private companies. On Monday, June 30, the production had been around 465,000 barrels per day (bpd) before the incident. The state-owned SOTE oil pipeline in Ecuador has also been closed since 2 July due to heavy rainfall. Petroecuador declared force majeure for all operations including crude exports on July 3, due to the suspension of the pipelines. (Reporting and editing by Alexandra Valencia)
-
What is the mistral wind that's causing the Marseille fire?
The "Mistral", a wind that can reach 70 kph, is causing a wildfire to spread in the suburbs of Marseille. The fire had advanced at times by over 1 km/minute, but now it has been contained. The front line is still at risk of moving forward, as the Mistral will blow throughout the evening and night. What is the MISTRAL WIND? The Mistral, a cold, dry and strong wind blowing from the north or the northwest across the Rhone valley in southern France to the Mediterranean Sea. The geography of the region, especially the funnel-shaped Rhone Valley, shapes the wind, which speeds up as it moves to the south. The word Mistral is derived from "mistrau", which means "masterly" in Occitan. It is known to blow clear, dry air under bright blue skies. It impacts agriculture, architecture, and the daily life of Provence and its surrounding areas. When does the MISTRAL WIND blow? Mistrals can occur any time of the year, but are most common in winter and spring. This occurs when a system of high pressure over the Atlantic Ocean or Northern France meets with a system of low pressure over the western Mediterranean. The pressure difference pushes the air to the south, and it intensifies when it passes through Rhone Valley. Wind can last for a few days or even longer. How powerful is the mistral wind? Mistral is Europe's strongest regional wind. The Mistral is a powerful regional wind that can reach speeds of up to 90 km/h. However, gusts are often higher, exceeding 100 km/h. It has even been measured at 120 kph. It can also damage crops, cause trees to fall and disrupt air and road traffic. The Mistral can also cause dangerous conditions for sailors and whip up the waves. Mistral has its own challenges but also benefits. It dries out the many vineyards and olive trees in southern France reducing the spread of fungal diseases. Vincent van Gogh's Pine Trees Against a Red Sky With Setting Sun captures the unique weather and light of this region in his paintings. (Editing by Richard Lough & Timothy Heritage)
-
Media reports claim that TSA will allow airport travelers to keep their shoes on.
According to reports, the Transportation Security Administration will announce that passengers won't be required to remove their footwear during security checks in some U.S. Airports. CBS News reported on Monday, citing sources that the TSA's policy change appears to be phased in, with the first airports where the requirement for no shoes will end being Baltimore/Washington International Airport and Fort Lauderdale International Airport. Karoline Lavitt, White House Press Secrecy, responded to the CBS report on X on Tuesday with "Big News from @DHSgov!" Karoline Leavitt's response included emojis of an airplane and shoe. On Tuesday afternoon, Homeland Security Secretary Kristi Nem will hold a news conference where she will announce the new policy. TSA didn't immediately respond to an inquiry for comment about the removal of this policy. TSA started requiring passengers to remove their shoes in order to check for explosives as early as August 2006. TSA began requiring passengers to remove their shoes to screen for explosives in August 2006. TSA introduced the TSA Trusted Traveler Program in 2013, which does not require members to remove their footwear. Shoes are not required to be removed by children under 12 or adults over 75. (Reporting and editing by Margueritachoy; Additional reporting and editing by Nicole Johnson)
-
Pakistan approves four bidders to take over the struggling national airline PIA
The Pakistani Government announced on Tuesday that it had given approval to four parties, which included business groups and an army-backed firm, for them to bid for a stake of the debt-ridden Pakistan International Airlines. Pakistan is looking to sell 51-100% of its struggling national airline in order to raise money and reform state-owned, cash-sucking enterprises as envisaged by a $7 billion International Monetary Fund program. This would be the first major privatisation of the country in almost two decades. One of the bid groups is a group consisting of four major industrial companies: Lucky Cement, Hub Power Holdings, Kohat Cement and Metro Ventures. One is led by Arif Habib Corp, which includes the private education provider The City School and real estate company Lake City Holdings. Fauji Fertilizer Company (a conglomerate backed by the military) and Pakistani Airblue have also been given approval to bid on PIA. In a press release, Pakistan's Privatisation minister Muhammad Ali stated that "the pre-qualified parties" will proceed to the due diligence stage for buyers. Ali said that the review process will last between two and two-and-a half months. The final bidding, negotiations, and discussions are expected to take place in the fourth quarter 2025. The privatisation ministry of the country also announced that the Cabinet Committee on Privatisation had approved the transaction structure, which included options for outright sale as well as long-term leasing for the Roosevelt Hotel in New York. Ali told us that Pakistan expects to receive a payment of over $100 million from the Roosevelt Hotel in this year. Reporting by Mrinmay dey in Bengaluru, and Asif shahzad in Islamabad. Mark Potter is the editor.
Brazil's corn harvest is a challenge for the export season
Analysts say that Brazil's corn will face new challenges as the shipping season begins, with logistical issues possible, China buying less and the United States expected to be a strong competitor.
They said that corn exports will increase in volume for 2024/25, but they could also face bottlenecks, as they would have to compete with each other for space in the ports, if China's continued demand for Brazil’s record soybean harvest in 2025.
According to government projections the corn production in Brazil is expected to reach 128.3 millions metric tons this season, a 11% increase from last season's cycle.
StoneX, a consultancy, estimates Brazilian exports to be 42 million tonnes, an increase from last season's 38 million tons.
Raphael Bulascoschi of StoneX, an analyst, noted that China, which is a major buyer of Brazilian corn for 2022 and 2023 needs less imports following a bumper crop. The United States, too, could have a record harvest, competing with Brazil on external markets.
Bulascoschi stated, "We will need to find buyers for our export surplus."
Francisco Queiroz, an analyst at Itau BBA, said that Brazil's exports will be dependent on countries such as Iran, Egypt, and Vietnam. He said, however, they don't have the same capacity as China. (Reporting and writing by Roberto Samora, Fabio Teixeira and Mark Porter; editing by Mark Porter).
(source: Reuters)