Delaying Climate Measures Will Cost Billions More, Whitehouse Warns
Failing to act quickly on climate change can greatly increase the cost of ensuing carbon emissions, the Whitehouse warns. The economic impact of curbing emissions will climb 40 percent for each decade that the country delays in setting a more aggressive climate plan, according to a 33-page report prepared by the president’s Council of Economic Advisers. The report also claims that if global fossil fuel consumption is not reduced before average temperatures rise 3 degrees Celsius –or 2 degrees higher than today – the United States will be looking at annual economic losses of around $150 billion.
Ship Hirings Show Asia To Be Recipient of Most Middle East Fuel This Year
Middle East oil refineries are about to ship the biggest amount of fuel to Asia in eight months, lists of shipping charters show. Oil traders hired ships to load 3.91 million metric tons of refined petroleum in the four weeks to August 10, according to data compiled by Bloomberg. Asia’s importance as a source of demand is rising due to Russia’s increased fuel shipments to Europe. Surging oil production in the U.S. is also a factor that reduced importation of foreign fuel.
Magnets Conceptualized To Act as Wireless Cooling Agents
According to a new theory formulated by MIT scientists, magnets may one day be used as cooling agents. The theory is based on the movement of magnons, which are quasi-particles in magnets that have the ability to conduct heat. MIT scientists discovered that when exposed to a magnetic field gradient, magnons can be driven to move from one end of a magnet to another, carrying heat with them while producing a cooling effect. Other scientists believe that the study holds huge potential to help optimize existing systems and improve thermoelectric efficiency.
BMW Offers Fast Battery Chargers to Boost EV Sales
In an effort to make driving electric vehicles more practical, Bayerische Motoren Werke AG (BMW) is offering drivers of its i3 car auto-battery chargers that are not only smaller in dimension but also has faster charging capabilities. The more compact units can bring the battery up to 80 percent in only 30 minutes, says the Munich-based luxury car maker. U.S. owners of the i3 can buy the charger for $6,458. BMW’s offer follows similar initiatives by other electric vehicle makers to overcome customers’ concern of being stranded caused by drained batteries.