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The Iranian Revolutionary Guard: New rules for the management of the Persian Gulf have been established and will be implemented in accordance with the Supreme Leaders historic directives.On May 2nd, Iran submitted a new proposal to Washington aimed at ending the war, showing signs of compromise and a desire to restart negotiations to resolve the deadlock that is taking a heavy toll on its economy. Sources revealed that Irans new proposal moves closer to the US: it proposes discussing Tehrans conditions for opening the Strait of Hormuz alongside a US commitment to cease attacks and lift the blockade on Iranian ports. Previously, Iran had demanded the US lift the blockade as a prerequisite for negotiations and required the US to reach an agreement on the terms of ending the war before discussing the future management of the Strait and its nuclear program. Sources also indicated that the new proposal subsequently suggested discussing issues related to Irans nuclear program in exchange for US sanctions relief. Iran has indicated to mediators that if Washington is open to the new proposal, Iran is prepared to travel to Pakistan early next week for talks.On May 2nd, US President Trump stated that the US and Iran are still negotiating, and the talks are being conducted by telephone. Last weekend, Trump withdrew his delegation from a planned trip to Islamabad, citing that the trip would take too long to reach an agreement he could not accept.May 2nd - According to the U.S. Central Command, the U.S. military continued patrols in international waters and maintained a maritime blockade against Iran on May 1st local time. The U.S. stated that 45 commercial vessels have been ordered to turn back or return to port to ensure compliance with relevant restrictions. The blockade operation is ongoing.The Director General of the European Automobile Manufacturers Association stated that the reinstatement of the 27.5% tariff and the indefinite trade dispute would severely damage European car manufacturers, their employees, and the entire EU economy.

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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