EUR/USD 1.14293
-0.101%
Gold 4148.81
-0.386%
Oil 70.219
2.400%
USD/JPY 161.895
-0.114%
GBP/USD 1.33740
-0.117%
GBP/JPY 216.523
-0.229%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Sources say Russia’s largest oil refinery, the Omsk refinery, has suspended operations following a drone attack on Monday.July 7th - Robert Kavcic, an economist at BMO Capital Markets, stated that Canada has clearly emerged from two consecutive quarters of sluggish GDP growth, with a strong recovery in net trade, partly driven by rising oil prices. According to Statistics Canadas May trade report, exports rose 0.9%, a robust 26% increase year-over-year. Energy sales accounted for the majority of the growth. Despite weak sales in May, Kavcic expects net trade to still provide a meaningful boost to second-quarter growth, contributing up to 2.0 percentage points.On July 7th, Wang Weizhong, Secretary of the Inner Mongolia Autonomous Region Party Committee and Chairman of the Standing Committee of the Peoples Congress, and Bao Gang, Deputy Secretary of the Inner Mongolia Autonomous Region Party Committee and Chairman of the Inner Mongolia Autonomous Region Peoples Government, met with Sha Yan, Secretary of the Party Committee and Chairman of the Board of Directors of the Shenzhen Stock Exchange, in Hohhot. Sha Yan stated that the Shenzhen Stock Exchange will fully leverage its advantages to continuously strengthen practical cooperation with Inner Mongolia in areas such as cultivating high-quality listed companies, facilitating corporate financing channels, promoting the growth of listed companies, and bond issuance. The Shenzhen Stock Exchange will utilize the multi-tiered capital market to help the autonomous region develop its distinctive and advantageous industries, including modern coal chemical industry, new energy, computing power, and modern agriculture and animal husbandry, enabling more high-quality enterprises to leverage the capital market to grow stronger and larger, and making greater contributions to the high-quality economic and social development of the entire region.The Moscow refinery in Russia has resumed oil processing.U.S. stocks opened lower and continued to decline, with the Nasdaq 100 index falling more than 2%, the Philadelphia Semiconductor Index falling more than 6%, and SanDisk (SNDK.O) and Western Digital (WDC.O) both down more than 10%.

Biden Reintroduces His Campaign for a Sustainable Aviation Fuel Tax Credit

Charlie Brooks

Apr 13, 2022 09:29

F1.png


"We brought together government agencies, aircraft manufacturers, airlines, fuel suppliers, and airports," Biden said at an Iowa event, saying that the effort will result in "advanced, cleaner, and more sustainable aviation fuels for America."


George Novak, President and CEO of the National Air Carrier Association, commended Biden for "recognizing the essential role that sustainable aviation fuel will play in further decreasing the airline industry's carbon impact."


Airlines are under pressure from environmental organizations to reduce their carbon footprints and have committed to using more environmentally friendly aircraft fuel (SAF).


Biden mentioned American Airlines' (NASDAQ:AAL) and United Airlines' support for sustainable aviation fuel on Tuesday, stating that biofuels were critical for aviation's decarbonization.


"That is the path we will take," Biden said.


The attempt to expedite carbon reductions in aviation is part of Biden's goal of achieving net carbon neutrality in the United States by 2050.


It comes as the US and Europe seek to increase production of SAF, which is currently produced in trace amounts from feedstocks such as discarded oil and may cost up to five times as much as normal jet fuel.


In September, the White House announced that three US government agencies would launch a challenge to supply at least 3 billion gallons of SAF per year by 2030 and sufficient SAF by 2050 "to meet 100 percent of aviation fuel demand, which is currently estimated to be around 35 billion gallons per year."


Airlines for America, a trade association that represents American, United, and other airlines, lauded Biden's request for a blender's tax credit and the $3 billion target that has bipartisan support in Congress. The association said that the credit "would contribute in the development of the embryonic market for SAF by providing a financial incentive for fuel producers to incorporate more SAF into the gasoline supply at a price that would encourage airlines to adopt it."

Suggestion