environment
New York (AFP) - Tesla reported a big drop in quarterly profits Tuesday amid an increasingly cutthroat electric vehicle market, but shares rallied as CEO Elon Musk pledged to accelerate plans for a more affordable EV. Tesla reported profits of $1.1 billion, down 55 percent from the year-ago quarter on revenues of $21.3 billion, down nine percent as the company described EV sales as "under pressure." But shares rocketed up more than 11 percent in after-hours trading after Tesla pledged to "accelerate" new more affordable autos -- something Wall Street analysts have been clamoring for. The resul...
AFP
New York (AFP) - Tesla CEO Elon Musk faces heightened pressure with Tuesday's earnings report to reassure investors that recent stumbles are simply unexpected speed bumps -- and not indications of a road to decline. The electric car maker, which enjoyed scorching growth for most of 2022 and 2023, has experienced setbacks that analysts say have raised the stakes for the first-quarter report. Tuesday's earnings and conference call are a "moment of truth" for Tesla and Musk, constituting "one of the most important moments in the company's history in our view," said a note from Wedbush. Heading in...
AFP
Washington (AFP) - The United States on Friday blocked oil, gas and mining operations across tracts of unspoiled wilderness in Alaska, winning praise from environmentalists for safeguarding habitat for polar bears, caribou and other Arctic species. More than 13 million acres (5.2 million hectares) will come under new federal protection, while a permit to build a major road to access mineral deposits was denied in moves that angered industry bodies and some locals. "Alaska's majestic and rugged lands and waters are among the most remarkable and healthy landscapes in the world," President Joe Bi...
AFP
Washington (AFP) - The US Environmental Protection Agency on Friday classified two so-called "forever chemicals" as hazardous substances, meaning those responsible for releasing them will have to pay to clean up contamination. The two chemicals, perfluorooctanoic acid (PFOA) and perfluorooctanesulfonic acid (PFOS), are the most studied and most widely detected among the "forever chemicals" known as PFAS (per- and polyfluoroalkyl substances). Exposure to these substances "has been linked to cancers, impacts to the liver and heart, and immune and developmental damage to infants and children," th...
AFP
New York (AFP) - Tesla is recalling 3,878 Cybertruck vehicles because of a defect that can cause unintentional vehicle acceleration, increasing crash risk, according to a US notice posted this week. Tesla notified the National Highway Traffic Safety Administration on April 17 of the condition in which the accelerator pedal may become trapped on the Cybertruck, Elon Musk's futuristic take on the American pickup truck. If the accelerator pedal becomes trapped, "the performance and operation of the pedal will be affected, which may increase the risk of a collision," Tesla said in the notice. Tes...
AFP
Washington (AFP) - The world is currently experiencing its second major coral bleaching event in 10 years, with reef systems from Australia to Florida teetering on the brink of disaster following months of record-breaking ocean heat, a US agency announced Monday. The consequences of coral bleaching are far-reaching, affecting not only the health of oceans but also the livelihoods of people, food security, and local economies. Severe or prolonged heat stress leads to corals dying off, but there is hope for recovery if temperatures drop and other stressors such as overfishing and pollution are...
AFP
New York (AFP) - Oil companies drilling on public lands must post larger bonds and pay higher royalties under a rule finalized Friday by the Biden administration. The bonding requirements for development increased to $150,000 from $10,000, a level set in 1960 that no longer covers potential cleanup costs, the Bureau of Land Management (BLM) said in a press release. In another shift, the Department of the Interior lifted royalty rates for leases to 16.67 percent from the previous level of 12.5 percent. The changes were described by Interior Secretary Deb Haaland as the most significant reform t...
AFP
Washington (AFP) - US President Joe Biden's administration on Wednesday announced the first nationwide tap water standards to protect the public from toxic "forever chemicals" linked to serious health harms ranging from cancers to developmental damage in children. Invisible and present in the water, soil, air and food supply, per- and polyfluoroalkyl substances (PFAS) accumulate inside our bodies and never break down in the environment. A new Environmental Protection Agency (EPA) rule would reduce PFAS exposure in the water supply of some 100 million people, preventing thousands of deaths and...
AFP
Los Angeles (AFP) - The booming use of electric vehicles in parts of California is reducing CO2 emissions in those areas, a study showed Thursday, bolstering a key pillar of the state's drive towards net zero. Scientists at the University of California, Berkeley, say a network of sensors set up around the San Francisco Bay Area -- where Teslas and other EVs are a common sight -- has logged a small but steady drop in the volume of planet-warming carbon dioxide being pumped out every year. "We show from atmospheric measurements that adoption of electric vehicles is working, that it's having the ...
AFP
Washington (AFP) - Following last week's crackdown on car emissions, President Joe Biden's administration on Friday unveiled finalized pollution standards for trucks, placing vehicle tailpipes at the forefront of his climate crisis agenda. The new rules announced by the Environmental Protection Agency (EPA) will apply to vehicles including freight trucks, school buses and waste haulers built between 2027 and 2032, and will prevent around a billion tons of greenhouse gas emissions from entering the atmosphere. Heavy goods vehicles account for 25 percent of greenhouse gas emissions in the US tra...
AFP
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