McCarthy hits Biden on energy policies: ‘We’re buying it from our enemies’

 House Speaker Kevin McCarthy (R-Calif.) slammed President Biden’s energy policies, placing blame on his administration for relying too much on the country’s “enemies.”

“We’ve watched the really horrendous decisions by the Democrats and the Biden administration,” McCarthy said Sunday in an interview with John Catsimatidis on WABC 770AM’s “Cat’s Roundtable.”

“They hurt America by cutting off what God has blessed this country to do, where we can be energy independent,” he added. “Raising the price of fuel, what that does is raises inflation.”

McCarthy advocated for American “energy independence,” an agenda that has been the backbone of Republican energy policy. He argued that increasing domestic energy production could even be good for the environment.

“If we replaced Russian natural gas in Europe, for one year, just one year, that would lower 215 million tons of emissions because our natural gas is 41 percent cleaner than Russian natural gas,” he said.

The Speaker said Democratic energy priorities — specifically those that focus on renewable energy — only serve to dampen the economy and can exacerbate inflation.

“The Biden administration has gone in and done an attack on the energy business, only wants renewable energy,” McCarthy said, adding that the push has “made the price of energy higher.”

“It doesn’t mean we buy less, it means we’re buying it from our enemies,” he said.

McCarthy also talked about his House energy package, passed in March, which included measures to boost fossil fuel production, reduce regulation and increase mining. The measure, however, has yet to receive a vote in the Senate.

“It is a sad place, but it’s all from Democratic policies from this administration. Not just hurting America and our economy but helping our adversaries be stronger,” he said.

“That is why we need an American energy policy, which the House has passed, that makes America energy independent, utilizing all forms of energy from renewable, from nuclear, from oil and natural gas as well,” the California Republican added.

https://thehill.com/homenews/house/4208241-mccarthy-hits-biden-on-energy-policies/

Progress or peril? The brave new world of self-driving science labs

 The relentless march of technology has brought us to the doorstep of another unprecedented revolution: self-driving laboratories (SDLs).

Picture a bustling lab, humming with activity but devoid of human presence. Machines and algorithms working tirelessly, pushing the boundaries of scientific exploration. A tantalizing blend of advanced machinery and artificial intelligence, SDLs promise to reshape our very understanding of research.

But, as with all groundbreaking innovations, SDLs bring their own set of intriguing questions and potential challenges.

At the core of SDLs are two intertwined elements. First, there’s the state-of-the-art hardware, each piece crafted for precision. It’s this machinery that ensures impeccable accuracy in tasks such as sample preparation, data collection and even microscopic observations. Simultaneously, we have artificial intelligence (AI), the digital maestro that takes this data, analyzes it and subsequently determines the best course for subsequent experiments.

This duo promises perpetual research cycles, offering a level of consistency that human-led labs might find nearly impossible to match. It’s not just about increased productivity; it’s about fundamentally reimagining the research paradigm.

The marvels of SDLs aren’t restricted to hypothetical scenarios or futuristic predictions. They’re already making waves.

The University of Toronto’s Acceleration Consortium, backed by a historic $200 million grant from the Canada First Research Excellence Fund, recently harnessed the power of SDLs to develop a potential cancer drug in just 30 days — a process that typically takes years, if not decades. In the domain of chemistry, teams like these have showcased the harmonization of robotics with machine learning to navigate intricate chemical interactions. Meanwhile, in materials science, another team unlocked new possibilities in thin-film materials’ optimization. These are glimpses of a world where human creativity meets machine precision, birthing discoveries at an unprecedented pace.

Yet, with great power comes great responsibility. The ascendancy of SDLs brings forth a myriad of challenges.

One of the foremost is the conundrum of reproducibility. Imagine two SDLs, operating thousands of miles apart under varying conditions. If they embark on identical research paths, can we confidently expect them to churn out matching results? The quest for consistency across global SDLs necessitates rigorous quality control measures, and possibly an internationally recognized standard for autonomous labs.

Then there’s the human factor. Many of history’s most iconic discoveries have been birthed not just from methodical research but from human intuition, accidental observations and even serendipity. Can machines replicate the whimsical yet often rewarding nature of human-driven curiosity? Or will they, with their binary logic, miss out on the serendipitous discoveries that have often reshaped our world?

SDL capabilities don’t end with experiments — their prowess extends to autonomously scouring vast scientific databases, digesting years of human research within moments. While efficient, this approach isn’t devoid of pitfalls.

Algorithms, no matter how sophisticated, can develop biases. A skewed dataset or an inadvertent oversight can steer an SDL down an erroneous path, potentially leading to misleading conclusions and wasted resources. Additionally, biases in the machine learning process, such as temporal biases favoring newer publication or accessibility biases favoring journals with restricted access, only further exacerbate these algorithmic biases.

Furthermore, as we embrace SDLs and their ever-evolving capabilities, we must confront an unsettling query: Are we truly prepared to understand and validate the profound insights and innovations they offer? The melding of complex concepts, like “digital twins” with SDLs, further compounds this dilemma, navigating us into uncharted ethical waters.

The implications of SDLs are vast and varied. Beyond the realms of pure research, there are societal, economic and political dimensions to consider. How do we regulate such technology? What safeguards do we put in place to prevent misuse, especially in critical areas like bioweapon development? And, how do we ensure that the line between profit-driven industrial applications and noble academic pursuits remains unblurred?

In essence, SDLs usher us into a brave new world, filled with immense promise but also shadowed by significant challenges. It’s a realm where human expertise and machine efficiency coalesce, helping to elevate our collective knowledge. The onus is on us to navigate this journey wisely, balancing the scales of innovation and ethics, ensuring that our quest for progress doesn’t compromise our core values.

Joshua Steier and Rushil Bakhshi are technical analysts at the RAND Corporation.

https://thehill.com/opinion/technology/4205109-progress-or-peril-the-brave-new-world-of-self-driving-science-labs/

Are gas stove bans going into place?

 Over the past couple years, a wave of progressive cities and states have moved toward banning gas stoves and other appliances in new buildings. San Francisco, Seattle, New York and others have changed the rules in the name of the environment and residents’ respiratory health.

But the wave has been met with substantial backlash, opposing federal legislation and lawsuits seeking to overturn the bans.

Berkeley, California, was the first U.S. city to put in place a ban installing gas piping in new buildings, but the local law was met with a lawsuit by the California Restaurant Association, a trade group representing restaurants.

In April, the U.S. Court of Appeals reversed an earlier decision by a district court that upheld the ban. The federal court ruled that existing federal law “expressly preempts State and local regulations concerning the energy use of many natural gas appliances, including those used in household and restaurant kitchens.”

The judges wrote Berkeley tried to get around the 1975 Energy Policy and Conservation Act by banning gas piping, not gas appliances. However, they rules the city couldn’t circumvent federal law by doing that.

But the federal court ruling was expected to be appealed, the Associated Press reported, meaning the legal battle could stretch on even longer.

Other cities and states have bans that are still on the books, or expected to go into place soon. New York, the first to pass a statewide ban, will phase in a law that requires all new buildings have electric cooking and heating appliances. The law will affect buildings under seven stories by 2026 and over seven stories by 2029, according to CNN.

All of the proposed or enacted bans focus on the appliances being installed in newly constructed buildings. No cities or states have suggested ripping out gas stoves in people’s already existing homes and apartments.

Meantime, federal legislators have moved to make sure a nationwide ban doesn’t happen.

In June, the House voted to keep the Consumer Product Safety Commission from regulating gas stoves as hazardous products, even though the head of the Commission said he’s not interested in pursuing a nationwide ban.

The legislation was unlikely to pass the Democratic-majority Senate, The Hill previously reported, and it has yet to see any action since passing the House.

However, Democratic Senator Joe Manchin of West Virginia did support adding language into an appropriations bill that would limit the CPSC from banning gas stoves.

https://thehill.com/homenews/nexstar_media_wire/4199783-hold-are-gas-stove-bans-going-into-place/

'France to let fuel retailers sell below cost in inflation fight'

 The French government plans to temporarily lift a ban on retailers selling road fuel below cost as part of efforts to stem inflationary pressures on households, Prime Minister Elizabeth Borne told newspaper Le Parisien.

A renewed surge in pump prices this summer has complicated the government's attempts to curb consumer inflation, with ministers calling on fuel and food industries to cut their margins.

TotalEnergies has extended a cap on fuel prices past the end of the year while some supermarket chains have held promotions to sell petrol at cost.

But a ban on below-cost selling of fuel, dating back to 1963, was preventing distributors from cutting prices further, Borne said, announcing that the ban would be lifted for "several months".

"With this unprecedented measure, we will obtain tangible results for the French people, without subsidising fuel," she said in an interview published on Saturday.

She rejected the idea of the government reducing fuel taxes, citing the need to reduce the public deficit and debt while saying that large companies should play their part.

Finance Minister Bruno Le Maire said on Thursday that high petrol refining profit margins were a source for concern and may need to be addressed by government action.

Regarding food prices, Borne told Le Parisien that companies from November would be required to indicate on labels when they modify the size of a product.

So-called "shrinkflation", whereby products are sold in a smaller quantity without any price reduction, has become a source of controversy in food retailing during a price spike in the past year.

French supermarket chain Carrefour announced this month it would place signs in its stores next to products that it found to use such practices.

https://www.marketscreener.com/quote/stock/TOTALENERGIES-SE-4717/news/France-to-let-fuel-retailers-sell-below-cost-in-inflation-fight-PM-44859277/

US national security advisor held talks with Chinese foreign minister-official

 White House National Security Adviser Jake Sullivan held weekend talks in Malta with Chinese Foreign Minister Wang Yi, a U.S. official said on Sunday.

https://www.marketscreener.com/quote/index/TOPIX-INDEX-61714390/news/US-national-security-advisor-held-talks-with-Chinese-foreign-minister-official-44859733/

BMO to wind down retail auto finance business

 Bank of Montreal (BMO) is winding down its retail auto finance business and shifting focus to other areas in a move that will result unspecified number of job losses, Canada's third largest bank said on Saturday.

The move, applicable in Canada and the United States, comes after BMO's bad debt provisions in retail trade surged to C$81 million ($60 million) in the quarter ended July 31 compared with a recovery of C$9 million a year ago, in a sign of growing stress consumers face from a rapid rise in borrowing costs.

"By winding down the indirect retail auto finance business, we have the ability to focus our resources on areas where we believe our competitive positioning is strongest," BMO said in a statement to Reuters.

The bank is working closely with employees who will be affected by job cuts to provide support, the bank said. 

https://www.marketscreener.com/quote/stock/BANK-OF-MONTREAL-1409224/news/Canadian-lender-BMO-to-wind-down-retail-auto-finance-business-44859657/

Lengthy UAW strike could buy GM time to address nagging EV issues

 General Motors is at greater risk than rivals Ford Motor and Stellantis of disruption to electric vehicle production from a prolonged UAW strike - though some analysts say that could also buy it time to repair nagging issues.

While Ford and Stellantis are introducing several revamped combustion-engine models this fall, GM's immediate focus is on electric vehicles - with plans to launch or ramp up production of at least five new ones. They include all-electric companions to its full-size Chevrolet Silverado and GMC Sierra pickups, according to researcher GlobalData.

GM has been struggling much of the year to smooth out hiccups in battery manufacturing as well as its EV supply chain and logistics, including delivery to dealers of its Cadillac Lyriq and GMC Hummer EVs.

The company delivered just 1,348 Lyriqs and 47 Hummers in the second quarter, far below expectations, in part because of issues with battery module assembly.

Chief Executive Mary Barra in July told analysts: "Our automation equipment supplier is struggling with delivery issues," causing a bottleneck that had forced the automaker to assemble battery modules by hand.

In July, GM executive Rory Harvey said the company was working out delivery issues to dealers, noting that Lyriq and Hummer "have been going down the line in very limited quantities (but) we are building momentum."

A longer strike could help GM address and potentially resolve some of those ongoing issues in its EV and battery operations, according to Sam Fiorani, vice president of global vehicle forecasting at AutoForecast Solutions.

"A production stoppage could allow GM to solve bottlenecks," Fiorani said.

The automaker has not been able to roll out its most important EVs in a timely fashion, but could benefit if it used the labor stoppage to resolve some of its technical and operational issues, he said.

"GM could ramp up output faster once the factories start running again," said Fiorani.

'POTENTIAL NIGHTMARE'

Other analysts say the stoppage is unlikely to work out in GM's favor. GM's Barra herself said the strike "would not be positive" for the company and that it needed to reach a deal with workers quickly.

"For GM, a possible byproduct of an extended strike may be more time to work out any kinks they are having with their EV launches, but the potential loss of billions of dollars in the process would make it hard to justify such a 'silver lining,'" said Bill Rinna, GlobalData's director of Americas vehicle forecasts.

Wedbush auto analyst Daniel Ives said the strike was "a potential nightmare situation" for GM given it comes exactly at a key period of ironing out EV issues.

"In this crucial period of EV execution, model roll-outs, distribution, marketing, with EV competition rising across the board, the timing could not be worse," Ives said in a research note.

In addition, the UAW strike in the United States could affect the flow of critical auto parts to GM operations in Canada and Mexico, which would hamper EV production there, Rinna said.

GM's Ramos Arizpe plant in Mexico has begun building the Chevrolet Blazer EV and is adding production of the Chevrolet Equinox EV, while its Ingersoll plant in Canada is planning to produce the BrightDrop Zevo 400 electric delivery van, according to GlobalData.

https://www.marketscreener.com/quote/stock/STELLANTIS-N-V-117814143/news/Lengthy-UAW-strike-could-buy-GM-time-to-address-nagging-EV-issues-44859647/