EUR/USD 1.16332
-0.064%
Gold 4342.93
-0.308%
Oil 56.819
-0.146%
USD/JPY 151.061
0.205%
GBP/USD 1.33902
-0.098%
GBP/JPY 202.278
0.113%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Japans House of Representatives has begun voting to elect the next prime minister.On October 21st, Sim Moh Siong, a foreign exchange strategist at Bank of Singapore, said in a research note that investors may continue to be keen to increase their gold allocations amidst a pullback in gold prices. The recent rise in gold prices may have been a bit too much, too fast. However, concerns about G10 fiscal sustainability and central bank independence will persist until 2026, making it difficult to predict whether gold will peak soon. Bank of Singapore raised its gold price forecast for the next 12 months to $4,600 per ounce.On October 21st, Japanese Economy, Trade and Industry Minister Yoshiharu Muto, when asked about Russian energy imports, stated on Tuesday that Japan will take appropriate actions based on national interests while maintaining close coordination with the international community. Last week, U.S. Treasury Secretary Benson Benson said he told Japanese Finance Minister Katsunobu Kato that the Trump administration wants Japan to stop importing Russian energy. Muto told reporters, "Since the outbreak of the Russia-Ukraine conflict, Japan has been steadily reducing its dependence on Russian energy." He added, "We recognize that LNG from the Sakhalin-2 project plays an extremely important role in Japans energy security," noting that it contributes approximately 3% of total electricity generation. He also stated that Japan intends to continue to maintain close coordination with the international community, including the G7.Gold prices fell slightly on Tuesday, October 21, as investors took profits after gold prices hit a new high in the previous trading day. Tim Waterer, chief market analyst at KCM Trade, said, "Profit-taking and weakening safe-haven inflows have weakened the advantage of gold prices today... Any pullback in gold will be seen as a buying opportunity, and the Federal Reserve is still on the track of interest rate cuts. If the US CPI data released later this week does not bring any unpleasant upward surprises, then the current gold price rally has further room to rise."Insurers managing $23 trillion plan to further increase their holdings of private market assets to achieve smooth long-term returns, according to a BlackRock survey.

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