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Indonesian disaster management official: The death toll from the earthquake has risen to 38.On August 15, Iranian Foreign Minister Araqchi stated in an interview with Iranian media that Iran has no intention of extending the ceasefire agreement with the United States and has not yet decided whether to restart negotiations with the US. He asserted that the US has violated the Iran-US memorandum of understanding, and that hostilities have resumed; therefore, there is no such thing as "extending the ceasefire agreement." Araqchi also said that Qatar and Pakistan, as mediators, are exchanging information and maintaining contact with Iran, but this does not mean that negotiations between Iran and the US are underway.August 15th - According to a market survey by investment bank Lazard, investors in the secondary market for private equity fund shares are changing how they evaluate potential software investment targets. While awaiting further clarity on the disruptive impact of AI on business models and valuations, they are often "shifting funds to other investment opportunities." The investment bank stated that the vast majority of respondents (91%) believe that the main moat for software companies to cope with the threat of AI and avoid their products becoming obsolete is "the proprietary data advantage and network effects that are difficult for AI to replicate." Lazard stated that as of June this year, only 4% of respondents indicated that their investment approach in the software industry had not changed.August 15th - According to Canadian sources on the 14th, with the deadline for the US to impose additional tariffs on Canada approaching, tariff negotiations between Canada and the US have reached a stalemate due to significant differences in core interests. It is understood that senior trade officials from both countries have held multiple rounds of intensive consultations in Washington in recent days, but their positions are far apart, and there are currently no signs of reaching an agreement. On July 20th, US President Trump signed several proclamations imposing a 50% tariff on hundreds of specific goods imported from Canada, including wine, hockey sticks, and cement, under Section 338 of the Smoot-Hawley Tariff Act. The new tariffs will take effect on August 19th, Eastern Time. In addition, tariffs imposed by the US on Canadian steel, aluminum, automobiles, and lumber since last year remain in effect.The Israeli military: On Saturday, the Israeli military struck Hezbollah infrastructure in southern Lebanon in response to actions against Israeli soldiers within the security zone.

Biden Reintroduces His Campaign for a Sustainable Aviation Fuel Tax Credit

Charlie Brooks

Apr 13, 2022 09:29

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"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."

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