Latest News
-
China claims that the Trump visit is a 'preliminary deal'
China's 'commerce ministry' described the tariff, aircraft and agricultural deals as "preliminary". This was in response to Donald Trump's visit this week. Trump left Beijing Friday, after two days of talks between President Xi Jinping and Trump that were filled with pageantry and warm words but with limited details on tangible outcomes in trade and investment. The ministry announced on its website that the two parties had agreed to create an investment board and?a trade panel to negotiate reciprocal tariff reductions on specific products, as well as larger cuts on unspecified goods, including agricultural products. Beijing also said that both sides will work together to resolve issues of non-tariff tariff barriers and market access. "FINALISED?AS SOON as possible" The ministry stated that the U.S. will "actively promote" the resolution of China's longstanding concerns about?the automatic removal of aquatic products from China, the export of bonsai plants in growing media to America, and the recognition of Shandong Province as a region free of avian flu. The Chinese side also pledged to actively resolve U.S. concerns about the registration of beef plants and poultry meat exports from certain U.S. States to China. The ministry didn't identify any companies, or give details about volumes, values or timelines. China released its first public statement on Saturday, describing the results of trade talks held this week in Beijing & Seoul. This comes amid concerns about what Trump's 'first state visit' to China has achieved. Trump said that China had?agreed' to buy 200 Boeing planes, but analysts questioned this lack of timeline. The Commerce Ministry confirmed "arrangements" on "Chinese aircraft purchases from the United States" and U.S. assurances regarding the'supply of aircraft parts and engines to China", but did not elaborate. The statement said that discussions were ongoing and the agreement would "finalised as quickly as possible". Reporting by Eduardo Baptista. Mark Potter (Editing by Mark Potter).
-
In Thailand, a freight train collision with a bus has resulted in at least eight deaths and 32 injuries
Rescue officials and the deputy transport minister reported that at least eight people died and 32 others were injured after a train struck a bus in Bangkok and ignited a fire. Officials said that firefighters and rescue crews responded to the incident as fires consumed the bus and vehicles nearby near the Airport Rail Link station in Makkasan. They added that the crash involved motorcycles and cars. According to preliminary reports, the bus was stopped "on the tracks" at a red signal, which prevented the crossing barriers from closing. Deputy Transport Minister,?Siripong, Angkasakulkiat, told reporters that the preliminary reports indicated the bus had been parked?on the track?, and therefore, prevented the crossing barriers from being closed. He added that the train, which was carrying containers, could not stop in time to prevent colliding with?the bus. Eight people died and 32 were injured. The wounded are being treated at various hospitals. "All eight of the dead were on that bus," he stated. Social media videos showed the train dragging several vehicles and the bus along the tracks. The bus was stuck in a red-light situation, and so couldn't move. Wanthong Kokpho said that cars were also "blocked" and could not move forward. The fire broke out immediately. The damage would have been worse if this was a normal workday. Officials said that rescue teams pulled injured victims out of the wreckage while fire crews battled with water hoses. They said that the fire had been brought under control and that crews were cooling down the area and venting gas while continuing to search for survivors. Authorities are investigating what caused the incident. According to the World Health Organization (WHO), Thailand's roads are among the deadliest in the world due to a lack of enforcement of safety standards. Reporting by Orathai Shriring, Panarat Thepgumpanat, and Tananchai K. Keawsowattana. Editing by Louise Heavens & Joe Bavier
-
One dead in Comoros as clashes erupt over rising fuel prices
By Abdou Moustoifa MORONI, 16 May - Five people were injured and one person killed in clashes between protesters on the comorian island of Anjouan and security forces, as unrest over fuel price increases spreads throughout the archipelago. The prosecutor stated in a Saturday statement that the Public Prosecutor's Office of Mutsamudu informed the public about a tragic incident which occurred in Anjouan in the Mpage region, and resulted in the death of a person, as well as five other injuries. After a meeting with the mayor of Mirontsy, and the 'fishermen association' which had been on strike since Wednesday in protest at rising fuel prices, there were clashes. In Mutsamudu (the capital of Anjouan), roads were blocked by stones. A judicial investigation was opened to determine what caused the death. The unrest is a result of a wider strike that began on Monday, after the government increased gasoline and diesel prices by 46% each. Citing the "Middle East" conflict as the reason for the increase. The strike by transport workers and shopkeepers has paralysed the public transportation system in Moroni. According to the National Human?Rights?Commission,?39 people were detained since the beginning of the strike. In an effort to reduce tensions, the government announced "cuts" to official travel and a reduction of 40% in customs fees. (Reporting and editing by Abdou Moostifa)
-
The rising cost of diesel fuel from the Iran war is straining US school budgets
The rising cost of diesel since the onset of 'the Iran war' is draining budgets already stretched by U.S. schools districts. It makes it expensive to transport students and run generators. Schools from Yakima Washington to Waco Texas are using emergency funds reserves to keep buses running. Interviews reveal that officials in remote Alaska are scrambling to secure enough fuel to run the lights. Trevor Greene, Superintendent of Yakima said: "It is more than a straw on a camel's...back. It's like a big haystack." The U.S. and Israeli war against Iran has had many knock-on effects, including the disruption of around one-fifth of world oil supplies. Fuel prices have risen at the fastest rate ever since the beginning of the war in late February. This spike has impacted economies all over the world. The spike has been so painful in the U.S. that it is a liability for Donald Trump in November's midterm elections, when the Republican Party is trying to hold onto a slim majority in the U.S. Congress. According to the American School Bus Council, U.S. bus operators consume more than 800 millions gallons of diesel per year. According to a new analysis by Samsara, a fleet management software provider, the cost to operate school buses in the United States has increased 67% since December. This is equivalent to an annual increase of $1.8 billion. James Rowan is the executive director of Association of School Business Officials International. He said that while districts can budget for higher costs in advance, the rapid swings in price make it difficult to do so accurately. "Even districts who have been able absorb costs through temporary measures or reserves this year may not have the same flexibility in the future." A survey of 188 U.S. School Districts, commissioned by AASA, and conducted in the week of May 4, revealed that close to a third are taking money from other funds to pay for their higher fuel costs. According to the survey results, school officials are looking for ways to cut costs. They consolidate bus routes, enforce anti-idling, change fuel buying practices, delay maintenance, and reduce administrative expenditure and staffing. "TREMENDOUSLY UNDERFUNDED" Yakima School district executives in Washington State said that the price of diesel they pay has recently increased by 64% on an annual basis to $6.30 per gallon. Greene said that at this price, the district's 60 buses would require an additional $213,000 in fuel costs per year. This is roughly equivalent to the salaries of two teachers. That is a big burden in an agriculture-dominated school district that has a poverty rate of 86%, and which is already "tremendously underfunded," he said. Jacob Kuper, district CFO, said that the district will instead buy its 30,000 gallon diesel tank in small quantities on days of low prices, rather than filling it. This is because it's "limping through the end" of the year. Christopher Mills of Thief River Falls Public Schools, in northwestern Minnesota said that diesel costs associated with transporting up to 800 students have increased around 30% since Iran's war began. Mills stated that the district was working to minimize direct impact on classrooms. "But if prices continue to rise, we may be forced to reduce support services for students." Even oil-rich Texas schools have not been spared. Waco Independent Schools District, which has over 80 buses, and average round-trip routes of 60 miles per day on average, reported an increase in diesel prices by 84% in early April. PRESSURE-PACKED Yupiit school district in Southwestern Alaska uses diesel generators to power the community and classrooms, not buses. Scott Ballard, Superintendent of the Yupiit District School Board in Akiachak, said during a phone interview that if they couldn't produce electricity then we wouldn't be able to run our school. The district, which has 550 students in it, is icebound most of the time, leaving a small window for fuel purchases. Ballard explained that leaders are now faced with a tough choice: Do they lock-in a price nearly 66% higher than the previous year, or do they gamble on prices falling? We're under a lot of pressure. Some of the biggest school districts in the United States are partially protected from fuel price fluctuations. Paul Quinn Mori is the president of the New York School Bus Contractors Association. He said that the district in New York City, which has the largest population in the country, outsources approximately 60%?of pupil transport. This arrangement often transfers fuel price changes from the district to the contractors. Los Angeles Unified, the second largest school district in the country, has been moving towards diesel-powered vehicles for many years. A district spokesperson revealed that 70% of its 1,300 bus fleet runs on batteries or alternative fuels. A spokesperson stated that "rising diesel prices continue impacting Los Angeles Unified’s transportation budget. However, the district has taken active steps to reduce dependence on fossil fuels by investing in clean transportation." (Reporting and editing by David Gregorio; Lisa Baertlein)
-
In April, Iraq exported 10,000,000 barrels of crude oil through the Strait of Hormuz.
Basim Mohammed, Iraq's new Oil Minister, told a?press?conference on Saturday that the country exported 10 million barrels?of?oil via the Strait?of Hormuz?in?April. This is down?from 93 million barrels per month before the Iran War. Oil prices have risen sharply since the Iran war closed the 'Strait of Hormuz. Iraqi crude oil exports via the Kirkuk-Ceyhan pipeline resumed in march, after Baghdad agreed to restart the flow. Mohammed said: "We currently export 200,000 barrels via Ceyhan, but we plan to increase that to 500,000 barrels". Iraq 'plans to engage OPEC in order to boost its production - and export capacity. 'The minister stated that Baghdad aims at a?production capacity of 5 million _barrels a day.
-
New York's Long Island rail strikes halt the busiest commuter route in US
A union statement said that about 3,500 workers from the New York Long Island Rail Road (LIRR), who failed to reach an agreement on wages, went on strike Saturday. This halted the busiest commuter train system in the United States. The Long Island Rail Road is operated and owned by the state’s Metropolitan Transportation Authority (MTA). It serves nearly 300,000 passengers per day. In a press release, the International Brotherhood of Teamsters union stated that a group of five unions had launched a strike. This was 'the first strike in 32 years. The union said that the workers went three years without receiving raises in the course of the bargaining. Mark Wallace, President of the Brotherhood of Locomotive Engineers & Trainmen, said: "This strike wouldn't have happened if MTA and LIRR had offered our members the terms that the government repeatedly recommended." We hope LIRR takes action soon to prevent further?disruptions of hundreds of thousands New Yorkers. When they are ready, they know where to find us: on the street. After the unions requested that he intervene, President Donald Trump signed an executive order in January to appoint another emergency?board for mediation to avoid a stoppage of work at the Long Island Rail Road. Trump had initially named a board to end the labor dispute in September of last year. (Reporting and editing by Tom Hogue in Bengaluru, Mihika Sharma, Shubham Kalya)
-
Berkshire purchases Delta and Alphabet, while shedding Amazon, UnitedHealth Visa, Mastercard, and Visa
Berkshire Hathaway announced a $2.65 billion investment into Delta Air Lines on Friday, as well as a small stake in Macy's. It also said that it had sold many of its smaller stock holdings such Amazon.com and UnitedHealth Group. These changes were made as part of the portfolio reshuffle that took place in the first quarter following the promotion of Greg Abel, who succeeded Warren Buffett at Berkshire. Berkshire announced in a regulatory filing that they also tripled their stake in Alphabet (parent company of Google), which is now one of the largest investments in common stocks. Berkshire has also increased its stake in New York Times to 9%. The filing included a list of?Omaha-based Berkshire’s U.S. listed stock holdings at March 31. This represented?most? of the $288 billion equity portfolio. Berkshire purchased $15.94 billion in stocks and sold $24.09 Billion of them between January and March. Abel is likely to have been the one who directed the majority of stock sales. According to previous disclosures, Abel inherited the equity portfolio of Berkshire, including that of Todd Combs. Combs was a Buffett protégé who joined JPMorgan Chase in December. Abel stated in February that he managed 94% of Berkshire stock holdings while Ted Weschler, the investment manager, handled 6%. Berkshire held an 11% stake in Delta Airlines, but sold it along with similar percentage stakes in American Airlines, Southwest Airlines, and United Airlines early in the pandemic, in April 2020. Buffett stated at the time that the aviation industry had undergone a "world-wide change". Delta is considered to be one of the best-run U.S. large airlines. After-hours, its shares rose by 3.2%, likely reflecting the 'approval stamp' that investors perceive from Berkshire. The Atlanta-based carrier did not immediately respond to a comment request. Macy's stock also gained a boost after-hours, with a 5.9% increase following Berkshire's announcement of a stake in 3 million shares worth $55 millions.
-
Carney announces Alberta Carbon Pricing Deal that could pave the way for new oil pipeline
Canada's Prime Minister Mark Carney and Alberta's premier on ?Friday signed a deal on industrial carbon pricing, ?part of a broader agreement meant to pave the way ?for ?construction of a 1-million-barrel-per-day crude oil pipeline to British Columbia's northwest coast to start by September 2027. Calgary's deal will raise the cost of carbon credits in Alberta's industrial market from C$95 to C$130 (94.59 USD) per metric ton in 2040. This is a measure to give oil companies a financial incentive for reducing pollution. It is unlikely that it will satisfy oil executives, who are concerned about the impact of any industrial carbon pricing on the industry, especially since the United States does not have a carbon price. Carney was in the city of oil and gas for the first time since November when he met with Alberta Premier Danielle Smith to discuss a plan to increase investment, including funding a new pipeline. Carney said that Canada's carbon markets and incentives to boost?low-carbon oil output will attract the private sector. He said, "I believe there will be a great deal of interest." U.S. COMPETITION WORRIES Alberta frozen its headline industrial carbon prices in May 2025. It cited the need to "keep its companies competitive" in light of the threat that President Donald Trump's Tariffs pose. Alberta's carbon credits trade between?C$20 to C$40 per metric ton. Environmental?experts claim that this is too low a price to encourage polluters into investing in technology to reduce emissions. The plan announced on Friday includes an escalating carbon floor price to ensure that Canada's major emitters are continually encouraged to reduce their emissions. Alberta's carbon price will increase from C$100 to C$130 per ton in 2020, then by 1.5% each year beginning in 2036. Environmentalists had called for a faster timeframe. Tim Weis is the director of industrial decarbonization for Pembina Institute. The 'deal' ensures that Alberta will raise its carbon price in time, as other provinces must do. This is a condition Carney had set before he would allow his government to fast-track a new crude oil export pipeline. For the first time, the agreement provides a start date for a new crude export pipeline if governments meet their legal obligation to consult Indigenous People. Alberta plans to submit a proposal to build a second West Coast oil pipeline by July 1, according to the province. HURDS REMAIN Carney and Alberta agreed that a new pipeline would be contingent upon the oil industry building an carbon capture and storage project. However, under the agreement, the project could be phased-in over time, and the resultant?emission reductions would be less than what the companies who originally proposed the proposal pledged to achieve in 2022. The Oil Sands Alliance, which is made up of Canada's largest oil sands companies, has refused to pay for the carbon capture project. The group said on Friday that it did not support changes to Alberta's carbon tax system. British Columbia, as well as any First Nations that might be affected by this route, would have to approve of the pipeline. B.C. Premier David Eby has said that his government will not allow the oil tanker ban to be lifted off the northwest coast of B.C.
How US freight rail became dirtier than coal-fired power plants
BNSF Railways, a crown jewel of Warren Buffett’s Berkshire Hathaway, claims to be an environmental leader within the U.S. railway industry, with the cleanest fleet of locomotives in North America.
In its latest sustainability report, BNSF urges people to "think green" when they see the steel wheels of orange locomotives and freight cars moving along steel rails.
The company has the biggest share in an industry with a serious pollution problem. According to government data, U.S. railroads emit more nitrogen oxides, the main component of smog than all of the coal-fired plants combined.
U.S. railways produced together about 485,000 tonnes of nitrogen oxides in 2024, compared with 452,000 tonnes emitted by U.S. power plants that burn coal, according to a calculation based on reported annual fuel consumption multiplied the EPA’s 2023 average weighted emission rates.
BNSF is the largest freight railroad in the United States. It accounts for a third of that total and will produce 161,500 tonnes of smog causing nitrogen oxide by 2024. "We don't dispute your number. BNSF stated in an email that it is the largest Class I railroad based on volume. Morningstar railroad analyst Greggory Warren believes that BNSF’s position as the largest rail company in the United States, and its profitability will be challenged if a $85 billion merger of Union Pacific with Norfolk Southern is approved by regulators. This would create the U.S.’s first coast-to-coast rail freight operator.
Four industry experts agreed that the calculations were fair. Class I railroads produce 80% of all NOx tonnes produced in the industry. Class I refers to six major railroads that generate more than $1 billion annually.
BNSF has not reported on its share of the recent NOx emission performance of the rail industry, or the factors that are driving the high levels of pollution.
According to the EPA’s Co-Benefits Risk Assessment Tool, railroad locomotive pollution costs the United States $48 billion annually in healthcare costs. It also causes 3,100 premature deaths.
Bill Magavern is the policy director for Coalition for Clean Air in California, an organization that promotes public health. He said that the EPA should force railroads to upgrade their fleets.
The EPA declined comment on rail pollution specifically for this article, but stated: "The Trump EPA has a commitment to enhancing its ability to provide clean air, land, and water for all Americans."
AGGING FREIGHT LOCOS
Railroads' poor performance in terms of emissions is mainly due to the fact they have stopped replacing their aging locomotive fleet. According to EPA reports and industry reports, the average age of U.S. trains is 28 years old, compared to 20 years in 2009.
This is a problem, because the federal emission?standards are based on the age of the locomotives. The oldest locomotives have the lowest limits.
The U.S. rail freight industry has been slow to buy new locomotives because there is no requirement for retiring old ones. This fear of new regulations that could be implemented by future administrations may have exacerbated the situation.
Edward Markey, a Massachusetts Democrat Senator, claims that railroads are no longer interested in innovation. Markey stated that the air pollution standards of railroads have a loophole the size of an engine, which is being used by companies to keep dirty, old trains on tracks.
Rail industry claims that rail is the most environmentally friendly option to transport freight on land. They cite data from the U.S. Department of Transportation. A locomotive can transport a ton (about 500 miles) of freight on one gallon of gasoline, which is up to three or four times as efficient as trucks.
The Association of American Railroads also said that it was unfair to compare rail with?powerplants, saying locomotives had little choice but diesel. The power plants in question have many other options to generate electricity - hydropower, wind, coal, natural gases, etc. The rail industry is different, the trade group said.
BNSF has said that it will reduce its emissions by improving efficiency and technology. It also stands behind its claim of having the cleanest fleet based on its number of modern locomotives.
BNSF reported that 360 of the 6,780 locomotives it owns are modern locomotives, Tier 4 engines, which meet the strictest federal emission standards. This is the largest number in the entire industry.
Surface Transportation Board data shows that only 5% of the total fleet is in use or stored. Analysts and CN press release about new locomotives claim that Canadian National's rival has about 300 Tier 4 engines, which make up 27% of their total fleet. BNSF's closest competitors operate about 270 Tier 4 locomotives at Union Pacific, and about 225 at CSX Corp. EPA data and company press releases, as well as trade industry reports, show that there are about 80 Tier 4 locomotives at Norfolk Southern and 270 at Union Pacific.
BNSF spent 394 million dollars on?165 rebuilt and new locomotives between 2020 and 2024. This was a 69% decrease from the previous five years, when the company spent $1.26billion on 558 engines. According to BNSF's annual reports filed to the U.S., the replacement of aging locomotives--some lasting as long as 40 years-slowed down sharply. Surface Transportation Board.
CLEANEST FEET?
BNSF's large size is not the only reason for its high emissions.
According to statistics submitted by the U.S. Department of Transportation, BNSF has the lowest fuel efficiency amongst the six largest railroads in the United States. Surface Transportation Board is the industry's economic regulator.
BNSF used 1.14 gallons per ton of weight moved over 1,000 miles in 2024. This industry metric is called a gross-ton mile. Union Pacific used 1.08 gallons of diesel to move the same amount of weight over the same distance. The most efficient railroad, Canadian National, consumed 0.88 gallons.
According to railroad industry analysts interviewed, BNSF's fuel efficiency is low because it transports more intermodal cargo than its peers.
The high-priority containers must move faster than normal freight, as they are usually more time-sensitive. This is according to Jason Kuehn a vice president and railroad analyst at the consulting firm Oliver Wyman.
BNSF will ship 5.3 million intermodal shipments in 2024. This is nearly 60% more than the No. According to the company's disclosures, Union Pacific is ranked No. 2.
Analysts say BNSF is likely to be less efficient due to its limited use of precision-scheduled railing. This industry practice aims at reducing fuel consumption and costs by using longer trains, fewer engines, and a shorter idle time. Fuel efficiency is also affected by mountainous terrain, and the congestion of a railroad network.
BNSF refused to comment on why it has a relatively low fuel efficiency, but maintained that it was an environmental leader 'in the industry based upon its adoption of the new locomotives which allows it to burn fuel cleaner.
The company said that it had the "cleanest fleet" of locomotives and platform locomotives.
It refused to give details about its fleet-wide emission intensity and could not verify whether it was better than competitors.
According to the EPA, Tier 4 locomotives reduce NOx by up to 80% compared with Tier 3 models.
Fear of Regulation
Railroads have stopped investing in new locomotives because of new regulations, including zero-emissions standard proposed by California. They are concerned that these new rules could make them obsolete.
Roger Nober, former chief legal officer of BNSF and director of George Washington University’s Regulatory Studies Center, said: "These locomotives are 40-45 years old, but you say they won't be able use them because we will have zero emissions."
"Railroads do not see this as an efficient use for their capital."
In 2008, EPA hoped that it could clean up the freight rail industry by setting higher standards for new locomotives. These standards included new Tier 3 models and Tier 4 models. Rail companies have slowed their purchase of new locomotives in order to encourage the replacement of older locomotives.
The EPA predicted in 2008 that by 2025, at least 30 percent of freight locomotives will be operating within the most stringent limits. According to the EPA, only 6.5% out of 19,303 locomotives that are currently active and operated by the six major railroads will meet this limit in 2023.
According to the U.S. Office of Transportation and Air Quality, American railroads had replaced their locomotives annually at a rate of 4% before 2008. By 2024 the replacement rate for the railroad industry had fallen to 0.5% annually.
Neither BNSF, nor its competitors provide precise data about the model year of?active locomotives within their national fleets.
The industry's biggest battle has been against California's proposed emission standard. This would have prohibited locomotives older than 22 years from operating within the state and required that all locomotives be zero-emissions in 2035.
California, with its large market size, can set a standard for the nation.
According to officials at the California Air Resources Board, the stricter regulations would reduce 7,400 tons diesel soot and 386,000 tons NOx by 2050. They also estimate that the cancer risk of those who live near rail operations could be reduced by 90%.
Rail officials claim that the bill would also have prohibited 65% of freight locomotives in operation from operating within the state.
California retracted the proposal a week before Donald Trump was inaugurated as U.S. President in January.
Trump is a frequent critic and would be expected to block this initiative by refusing California the waiver needed to establish state pollution regulations that are stricter than federal ones.
House Republicans introduced in May the Locomotives Act. This would prevent California from receiving such waivers. The bill was referred to Energy and Commerce Committee.
FIGHTING GREEN SCIENCE AND TECHNOLOGY
Rail industry lobbyists have also been very active in opposing the adoption of new technologies. BNSF informed the EPA at a public meeting last year that its test of a battery electric locomotive did not deliver enough power to transport tons of freight across long distances.
John Lovenburg said that the battery contained two megawatts usable energy. This is about 1/40th the energy needed for locomotives that haul line-haul freight.
Alex Scott, professor of supply-chain management at the University of Tennessee, says that electric locomotives can be used for short routes, replacing diesel locomotives, and in switch yards. However, for longer distances, they are limited by their battery weight.
In the United States, and in other parts of world, battery-electric locomotives do not exist. In China, India, and Russia the majority of freight locomotives are powered by overhead electric lines or catenary system.
According to an Association of American Railroads study from February 2025, electrifying 139,000 miles of track by six major railroads in North America could cost over $1.1 trillion.
Scott explained that the railroad industry was slow to adapt new technologies because, if there are problems, they're not only yours. You're creating issues for your customers as well as other railroads, because they all share the same track.
(source: Reuters)