US Oil-Output Outlook for 2026 Keeps Declining on Lower Prices
US crude output is now expected to shrink to 13.28 million barrels a day in 2026, according to the Energy Information Administration's Short-Term Energy Outlook released Tuesday. The agency's previous projection in July was for 13.37 million barrels a day, and the country is on track for the first annual drop in production since 2021.
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News24
2 minutes ago
- News24
Canadian govt intervenes to end Air Canada strike as 10 000 flight attendants ground flights
Air Canada's 10 000 flight attendants went on strike over wage disputes, forcing the airline to cancel hundreds of flights. The Canadian Union of Public Employees (CUPE) was seeking wage increases above inflation and compensation for unpaid ground work. The strike threatened Canada's economy during existing trade pressures from Trump's tariffs. The Canadian government intervened on Saturday to end a strike by Air Canada cabin crew members that saw hundreds of flights cancelled and triggered summer travel chaos for the carrier's 130 000 daily passengers. Canada's largest airline, which flies directly to 180 cities worldwide, had stopped all operations after some 10 000 flight attendants began industrial action fueled by a wage dispute just after midnight on Saturday. Hours later, Canada's labour policy minister, Patty Hajdu, moved to invoke a legal provision that would halt the strike and force both sides into binding arbitration. "This is not a decision that I have taken lightly. The potential for immediate negative impact on Canadians and our economy is simply too great," Hajdu told journalists. However, she said it could still take five to 10 days for Air Canada to resume regular services after the disruption. The airline had earlier urged customers not to go to the airport if they have a ticket for Air Canada or its lower-cost subsidiary Air Canada Rouge. It said flights by Air Canada Express, which are operated by a third party, would not be impacted by the walkout. The Canadian Union of Public Employees (CUPE), which is representing the workers, said its members would remain on strike until the government formally issues an order that they return to work. The union's Air Canada branch wrote on Facebook: Please remember there is only a referral, we are still in a legal position to strike and will continue to do so, we must show the company we are in control of this. In a separate statement, CUPE slammed the Canadian government's intervention as "rewarding Air Canada's refusal to negotiate fairly by giving them exactly what they wanted." "This sets a terrible precedent," it added. "This will only ensure that the unresolved issues will continue to worsen by kicking them down the road." Unpaid ground work In addition to wage increases, the union says it wants to address uncompensated ground work, including during the boarding process. Rafael Gomez, who heads the University of Toronto's Centre for Industrial Relations, told AFP it is "common practice, even around the world" to compensate flight attendants based on time spent in the air. He said the union had built an effective communication campaign around the issue, creating a public perception of unfairness. An average passenger, not familiar with common industry practice, could think, "'I'm waiting to board the plane and there's a flight attendant helping me, but they're technically not being paid for that work,'" he said, speaking before the strike began. "That's a very good issue to highlight," Gomez said, adding that gains made by Air Canada employees could impact other carriers. Andrew Francis Wallace/Toronto Star via Getty Images Air Canada detailed its latest offer in a Thursday statement, specifying that under the terms, a senior flight attendant would, on average, make CAN$87,000 ($65,000) by 2027. CUPE has described Air Canada's offers as "below inflation (and) below market value." The union has also rejected requests from the federal government and Air Canada to resolve outstanding issues through independent arbitration. Canada's economy, though showing resilience, has begun feeling the effects of US President Donald Trump's trade war, with his tariffs hitting crucial sectors like auto, aluminum and steel. In a statement issued before the strike began, the Business Council of Canada warned an Air Canada work stoppage could add further pain. "At a time when Canada is dealing with unprecedented pressures on our critical economic supply chains, the disruption of national air passenger travel and cargo transport services would cause immediate and extensive harm to all Canadians," it said.
Yahoo
29 minutes ago
- Yahoo
Green Hydrogen Production Group Closes on Major Investment
A California-based hydrogen production group said it has completed a funding round in support of the company's first 100-kilotonne carbon dioxide removal (CDR) commercial facility. Equatic, which is considered a pioneering company in combined carbon dioxide removal and green hydrogen production, on August 11 announced the successful closure of its Series A round, with Catalytic Capital for Climate and Health (C3H) leading an $11.6-million investment. C3H is a catalytic vehicle by Temasek Trust, along with Kibo Invest, a Singapore-based private investment office with a focus on climate technology. The funding round, with participation from a consortium of global investors, will accelerate the engineering scale-up and commercialization of Equatic's patented seawater electrolysis technology. This substantial capital infusion will support the ongoing engineering of Equatic's CDR commercial facility, alongside further commercialization, manufacturing, and technological development. Equatic's proprietary technology is designed to capture atmospheric carbon dioxide and produce green hydrogen in a single, scalable process, advancing two critical net-zero pathways. 'This investment marks a pivotal moment for Equatic, enabling us to significantly scale our production capabilities and accelerate our mission to deliver durable carbon removal at scale,' said Gaurav N. Sant, founder and chief technology officer for Equatic. 'The Temasek Trust ecosystem has been a foundational partner to Equatic, from early-stage philanthropic backing from Temasek Foundation to catalytic investment through C3H. We welcome Kibo Invest as co-lead and recognize their commitment to invest in companies that are revolutionizing industries and addressing urgent climate challenges.' 'Truly innovative carbon management technologies are needed to mitigate climate change before the consequences become irreversible,' said Lord John Browne, chairman of Equatic's advisory board. Browne also is founder and chairman at BeyondNetZero, and the former CEO of British Petroleum. 'By removing carbon dioxide and simultaneously generating green hydrogen, Equatic's solution provides unique advantages in terms of cost and scalability.' Ryan Tan, head of C3H, said, 'Equatic's technology and approach exemplify the type of bold and scalable innovation that aligns with C3H's mandate. We are delighted to support Equatic's goal in advancing promising climate mitigation solutions that offer permanent, durable carbon removal with green hydrogen production for scalable, tangible impact and commercial benefit.' 'Equatic represents an exciting opportunity to scale deep-tech innovation that addresses two critical needs: decarbonisation and clean energy. As an investor focused on climate solutions, we are proud to partner with C3H and Equatic to help bring this breakthrough technology to commercial scale,' said James Marshall, CEO of Kibo Invest. Equatic's Technology Since commencing operations in 2023, the Equatic technology has been successfully deployed at two pilot plants in Los Angeles and Singapore. The company is now expanding its operations with a demonstration plant in Singapore, known as Equatic-1, and a commercial-scale plant in Canada. In May 2024, Equatic was recognized as a CDR Purchase Prize semifinalist by the U.S. Department of Energy, acknowledging its high-quality, permanent carbon credits and rigorous Monitoring, Reporting, and Verification (MRV) practices. In September 2024, Equatic announced a significant climate breakthrough with the U.S. manufacture of oxygen-selective anodes, which unlock scalable hydrogen production through direct seawater electrolysis. That same month, Equatic was named a finalist for The Earthshot Prize, a prestigious international recognition for groundbreaking solutions to repair the planet. Equatic's commitment to high-integrity carbon removal is underscored by its adoption of an ISO-14064 standard for MRV, first published by Equatic in May 2023. Subsequently, this standard was validated by two leading carbon removal registries, Isometric and making Equatic one of the only marine companies capable of issuing high-quality CDR credits under either registry, with full transparency and auditability. Buyers of Equatic's CDR credits include Boeing, a leading global aerospace company and other large industrial companies committed to market-based mechanisms for decarbonization. —POWER edited this content, which was contained in a press release from Equatic.
Yahoo
29 minutes ago
- Yahoo
Unifor condemns federal government's attack on CUPE flight attendants' right to strike and fair and free collective bargaining
TORONTO, Aug. 16, 2025 /CNW/ - Unifor strongly condemns the federal government's imposition of binding arbitration between Air Canada and CUPE Flight Attendants, cutting short a legal strike action just hours after it began. "This move by the federal government sends a clear message to federally regulated employers: don't bother bargaining fairly with workers because the government will step in to strip away your right to strike," said Unifor National President Lana Payne. "Our message is equally clear – Unifor will always defend workers' right to strike and any government or company that tries to rip that away is in for one hell of a fight." On the first day of the strike, Minister of Jobs and Families Patty Hajdu invoked Section 107 of the Canada Labour Code, directing the Canada Industrial Relations Board to arbitrate the dispute. "The government is condoning Air Canada's refusal to bargain fairly while blocking workers' legitimate fight against unpaid work. Workers have constitutional rights in this country, and we expect our own governments to uphold them," said Payne. "My message to these same federal employers, many of whom Unifor also bargains with, is to consider hard on what you are sowing, because here's the truth: suppressing the rights of workers will never bring you labour peace." Unifor stands shoulder-to-shoulder with CUPE flight attendants, having issued a solidarity letter earlier this week and pledging ongoing support in the fight for justice and respect on the job. Unifor is Canada's largest union in the private sector, representing 320,000 workers in every major area of the economy. The union advocates for all working people and their rights, fights for equality and social justice in Canada and abroad, and strives to create progressive change for a better future. SOURCE Unifor View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
