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EPA Unwinds Massive Biden-Era Auto Emissions Regulations That Had 2027 Deadline

Zero Rss
2 months 3 weeks ago
EPA Unwinds Massive Biden-Era Auto Emissions Regulations That Had 2027 Deadline

Authored by Naveen Athrappully via The Epoch Times (Emphasis ours),

The Environmental Protection Agency (EPA) has proposed a deregulatory action to delay compliance deadlines for Biden-era emission standards, in a bid to make vehicles more affordable for Americans while ensuring greater consumer choice, the agency said in a May 14 statement.

Ford Motor Company's electric F-150 Lightning on the production line at their Rouge Electric Vehicle Center in Dearborn, Mich., on Sept. 8, 2022. Jeff Kowalsky/AFP via Getty Images

In March 2024, the Biden-administered EPA issued new rules regarding tailpipe emissions applicable to light-duty and medium-duty vehicles for model years 2027 and beyond. The regulations sought to “significantly reduce” greenhouse gas emissions, nitrogen oxides, particulate matter, and hydrocarbons from new light trucks, passenger cars, and larger pickups and vans.

The changes were projected to help tackle what the Biden-era EPA called “climate crisis” and reduce air pollution after the agency set limits on gas emissions. For instance, in passenger cars, the greenhouse gas emission limit was set at 139 grams of carbon dioxide per mile, which should reduce to 73 grams by 2032.

These regulations were expected to bring down carbon dioxide emissions by 7.2 billion tons through 2055, with the EPA saying there would be almost $100 billion in annual net benefits to American citizens, including $62 billion in lower fuel costs and maintenance costs, and $13 billion in public health benefits due to better air quality.

At the time, the EPA said that the emission standards were expected to “accelerate the transition to clean vehicle technologies.”

Between model years 2030–2032, around 30–56 percent of new light-duty vehicles and roughly 20–32 percent of new medium-duty vehicles were projected to be battery-electric vehicles, the document said.

In its May 14 statement, EPA said it was proposing to delay the compliance deadlines for these standards by two more years, until the beginning of model year (MY) 2029, since U.S. citizens have “overwhelmingly rejected” electric vehicles. Moreover, auto manufacturers have lost billions of dollars investing in the production of these vehicles, the agency stated.

The emission standards were “based on faulty assumptions by the Biden Administration that EVs would make up a significant percentage of MY 2027 and beyond fleets, causing the administration to set unrealistic emission standards for internal combustion engine (ICE) vehicles,” the EPA said.

If the proposal is finalized, it would allow auto companies to continue complying with current standards that “deliver substantial emissions reductions of up to 80 percent, for MY 2027 and MY 2028 vehicles,” according to the agency.

This would allow manufacturers to phase in the new emission standards starting with MY 2029 vehicles, “that better fit consumer demand for fewer EVs.”

The EPA said its proposal is estimated to save $1.7 billion, providing American families with hundreds of dollars in savings per vehicle.

“Freedom is the foundation of this nation, and this includes the freedom to choose the car you drive. The American people have been very clear; they do not want EVs forced upon them,” EPA Administrator Lee Zeldin said.

“This proposal aims to return EPA regulations to reality, restoring consumer choice, protecting good-paying American jobs, and strengthening the nation’s global competitiveness” while the agency works to reconsider the emission standards, he said.

Ending EV Investments

In a May 15 statement, consumer advocacy organization Public Citizen criticized the EPA decision, saying that the agency’s proposal will allow automakers to sell polluting cars.

“The decision will not just cost lives; it will cost working-class people more money in medical bills, more missed days of work, and more years chained to volatile gas prices,” said Deanna Noel, deputy director with the organization’s Climate Program.

“Working families are already stretched thin. Everything from groceries to home insurance to gas is getting more expensive, with no end in sight. Delaying commonsense emissions standards will only make communities sicker and send costs higher.”

In its recent statement, the EPA said that major auto manufacturers were already cutting down their electric vehicle fleets and related developments.

For instance, in January, General Motors announced a $6 billion write-down on its electric line. The company also canceled contracts with EV battery suppliers. Stellantis said it would cut its entire plug-in EV lineup for this year.

In December, Ford announced the cancellation of its flagship electric truck, the F-150 Lightning, after losing around $13 billion on its electric vehicle line since 2023.

The corporate decisions were taken after President Donald Trump ended a $7,500 tax credit for the purchase of electric vehicles in September, which had affected sales of these vehicles.

In the fourth quarter of 2025, which immediately followed the end of the tax credit, EVs made up only 5.8 percent of new cars sold in the United States, down from 10.5 percent in the third quarter, according to data from vehicle valuation company Kelley Blue Book.

Tyler Durden Mon, 05/18/2026 - 07:20
Tyler Durden

New data reveals 100% chance of strong ‘Super’ El Nino forming this year

NY Post
2 months 3 weeks ago
The latest long-range European forecast shows there's a 100% chance of a super El Niño, potentially suppressing hurricane activity and making for a wetter fall and winter in the southern U.S. 
FOX Weather

How Sydney Sweeney’s boyfriend Scooter Braun feels about her ‘provocative’ scenes in ‘Euphoria’

NY Post
2 months 3 weeks ago
Sweeney has raised eyebrows for a plethora of nude and sexually charged scenes on HBO’s hit drama series.
mliss1578

How Sydney Sweeney’s boyfriend Scooter Braun feels about her ‘provocative’ scenes in ‘Euphoria’

NY Post
2 months 3 weeks ago
A source exclusively told Page Six that the music producer is fully supportive of the actress, including the nude and sexually charged scenes she’s become known for on HBO’s hit drama series.
Sarah Jones

Jewish leaders snub Mamdani, reject invite to ‘Jewish Heritage’ event at Gracie Mansion

NY Post
2 months 3 weeks ago
Leaders of mainstream Jewish groups are snubbing Mayor Mamdani's "Jewish Heritage" celebration Monday night at Gracie Mansion, saying Hizzoner's Israel-bashing is unacceptable.
Carl Campanile

SGA reveals if Thunder belong in same conversation as Bulls, Warriors

NY Post
2 months 3 weeks ago
The Thunder appear to be on their way to becoming the NBA’s next dynasty.  Even though they’ve only won one championship, they’re already being talked about in the same breath as the league’s most elite teams.  This season they joined the Bulls (1995-97) and Warriors (2014-16, 2015-17) as the only teams to win at least...
Melissa Rohlin

What no one tells you about egg freezing

NY Post
2 months 3 weeks ago
In the latest installment of Ask An Expert, New York Post Wellness Editor Carly Stern goes face-to-face with a leading fertility specialist to unpack the truth about egg freezing. From the ideal age to freeze your eggs to the physical and emotional realities of the process, the candid conversation tackles the questions women are asking...
New York Post Video

I’m a real estate agent named Barbara Corcoran — many mistake me for the ‘Shark Tank’ star and expect to see her when I show up

NY Post
2 months 3 weeks ago
This Barbara Corcoran is a luxury property specialist at William Raveis in Osterville, MA who one day hopes to meet her name twin.
Melissa Malamut

Samsung, Union Resume Talks After Labor Action Scare; Goldman Says "Korea: Buy"

Zero Rss
2 months 3 weeks ago
Samsung, Union Resume Talks After Labor Action Scare; Goldman Says "Korea: Buy"

Downward momentum in South Korean stocks was halted on Monday as optimism returned to Samsung Electronics after the company and its union reopened talks to resolve contract disputes and avert a strike that could begin as soon as Thursday.

Bloomberg reported that the union's leader would "sincerely engage" with Samsung executives. The world's most important memory chip maker was also granted several requests by a Korean court, including orders to block the union from occupying company facilities.

The union is still threatening an 18-day walkout beginning Thursday unless its contract demands are met, but both sides signaled earlier today a willingness to resolve the labor dispute.

On Saturday, Samsung also made a concession by replacing its lead negotiator, while Prime Minister Kim Min-seok and Chairman Jay Y. Lee publicly urged compromise.

Shares of Samsung in South Korea closed up 3.5%, helping lift the country's main equity index, KOSPI, after it had slid late last week on labor action fears.

Goldman analyst Christy Park told clients, "By now, one would know: any correction on Hynix & Samsung = Buy (*note Hynix shares corrected >1% only 5x times since April out of 30+ sessions in which at ALL times regained more than its losses immediately within the following 1~3 days)."

Park listed the catalysts for Samsung & Hynix:

  • Resolution to the labor union strike removing overhang (Samsung; co replaced its entire negotiation team)

  • Continued conventional memory pricing strength acting as a tailwind (Samsung has higher exposure vs. Hynix) 2027 HBM pricing upside given HBM now sold at a discount vs. conventional DRAM (both Samsung & Hynix)

  • Upside in shareholder return given the substantial growth in FCF (Samsung: 2024-2026 shareholder return policy of paying back 50% of this)

  • Potential ADR listing of Kioxia could be positive for Hynix sentiment (as Hynix owns a meaningful stake in Kioxia through a consortium) ADR listing of SK HYNIX (anticipated in July)

  • We see Agentic AI driving a 24x jump in token consumption by 2030 (120 quadrillion tokens per month) (both Samsung & Hynix)

In a separate note, Tom Kang, director at Counterpoint Research, said, "There is a clear need for both sides to reach an agreement," adding that both sides have relatively little experience because Samsung has historically lacked a strong union culture.

"The gap may seem large, but the issues are workable," Kang said. "I believe the differences can be resolved without a strike."

Taiwan-based market intelligence and research firm TrendForce pointed out:

Samsung's strike is set to formally begin on May 21. Because the company's semiconductor fabs are already highly automated, the impact on production is expected to be limited.

However, there will likely be noticeable disruptions to packaging and logistics, R&D and design, and customer relations. In terms of unionization, about half of all employees across the Samsung Group are union members, most of whom work in the semiconductor division. Internally, management has already extended an olive branch to the DRAM division, but has not yet reached an agreement with union members in the Foundry and LSI divisions.

Samsung’s strike is set to formally begin on May 21. Because the company’s semiconductor fabs are already highly automated, the impact on production is expected to be limited. However, there will likely be noticeable disruptions to packaging and logistics, R&D and design, as well… https://t.co/l2ibgeXEIL

— TrendForce (@trendforce) May 15, 2026

Professional subscribers can read the full "[GS] KOREA: Buy" here at our new Marketdesk.ai portal. 

Tyler Durden Mon, 05/18/2026 - 06:55
Tyler Durden

Sen. Lindsey Graham calls for Trump to create ‘circle of death’ around Iran’s nuclear sites

NY Post
2 months 3 weeks ago
Sen. Lindsey Graham called Sunday for US forces to strike anyone who comes within a certain distance of Iran's nuclear material that has been entombed since last summer's strikes on three atomic facilities.
Samuel Chamberlain

Canada Rethinks Selling Its Crown Jewel Pipeline

Zero Rss
2 months 3 weeks ago
Canada Rethinks Selling Its Crown Jewel Pipeline

Authored by Charles Kennedy via OilPrice.com,

  • The Canadian federal government may reconsider a plan to privatize the Trans Mountain oil pipeline.

  • Since the expanded TMX pipeline launched in 2024, exports to Asia—especially China—have surged, with up to 70% of shipments from British Columbia heading to Asian buyers by late 2025.

  • Officials now see TMX as a highly profitable “strategically important asset,” with potential for further expansion

The Canadian federal government may reconsider a plan to privatize the Trans Mountain oil pipeline and keep it state-owned amid a surge in appetite for Canadian crude to replace lost Middle Eastern barrels.

“The prior narrative had been that this should be returning to private hands,” the head of the government entity that owns Trans Mountain said at an event this week, as quoted by the Financial Post.

“That was in a different market and that was in a different time,” Elizabeth Wademan also said.

Indeed, this is a very different market from what it was when the government in Ottawa had to step in and buy Trans Mountain from Kinder Morgan, which quit the project under relentless pressure from climate activists who used environmental regulations to strangle the expansion project. The price tag for the nationalization deal, which took place in 2018, was about $3.3 billion, and the Trudeau government quickly signaled it would start looking for buyers as soon as possible.

By 2024, the cost of the pipeline expansion project had swelled to about $23 billion, but the project, somewhat surprisingly, was completed, and the expanded pipeline launched in May of that year, running at three times its original capacity or a total of 890,000 barrels daily.

The destination for these barrels was the vast Asian market, as a way to diversify away from the U.S., which has for decades been pretty much the only foreign market for Canadian crude—and an export conduit, with the oil transported from Canada to the U.S. Gulf Coast, and from there, to markets overseas. With the new TMX, Canadian crude producers got a new, more convenient channel to Asian energy buyers.

It did not take long for the effect to be felt: between the launch of the expanded pipe and spring 2025, the average flow rates for shipment to China reached 207,000 barrels daily. That compares with an average of 173,000 barrels daily pumped to the United States. Since spring, the shift has become even more marked. By October 2025, as much as 70% of Canadian crude exported from the British Columbia coast was going to China. Now, everyone else in Asia is also interested.

The Trans Mountain pipeline is a “strategically important asset”, Trans Mountain Corp.’s Wademan said this week, suggesting the project could be expanded further, with more “energy corridors” that would add value for Canadians, the Financial Post reported.

“Let’s look where we are, and look how important energy security is, and look how incredibly profitable this asset is; there’s a lot,” Wademan said.

“There’s a lot of merit to holding onto it and realizing that full value.”

Indeed, it would be profitable for the federal government to hold on to the infrastructure as the price of Canadian crude inches closer to $90 per barrel—a level hardly seen as possible just five years ago, and even more recently. TMX has turned into a game-changer for the Canadian oil industry and it will be in the center of the “golden opportunity” that Canada has to become a bigger global player in both oil and gas.

Canada has a “golden opportunity” to become a major global oil player as the war in the Middle East limits sources of crude and natural gas, the head of the International Energy Agency, Fatih Birol, said earlier this month, adding that “The cost of missing this train will be incredible.” It seems the Canadian government is acutely aware of that risk and plans to avoid it and make the best of the country’s resources in a fascinating departure from the previous government’s focus on emission reduction and alternative energy.

Tyler Durden Mon, 05/18/2026 - 06:30
Tyler Durden

Russian attacks kill one, injure more than 30 in Ukraine overnight, officials say

NY Post
2 months 3 weeks ago
Russia launched ‌drones, airstrikes and shelling at Ukraine overnight, targeting cities such as Odesa in the south and Dnipro in the southeast, killing one person and injuring ​more than 30, Ukrainian officials said on Monday.
Reuters

Should you be mineral balancing? How it can improve stress, sleep and energy

NY Post
2 months 3 weeks ago
Sodium, calcium, potassium and magnesium regulate hydration, manage nervous system function, support metabolism and contribute to energy production, among other essential tasks.
Tracy Swartz

TikTok was set to pay $1B in 2024 over kids privacy breaches – years before DOJ’s sweetheart $400M deal: sources

NY Post
2 months 3 weeks ago
TikTok is nearing a $400 million truce with President Trump’s Justice Department over child data privacy breaches – a sweetheart deal as the social-media app was willing to pay $1 billion to settle the same claims in 2024, The Post has learned.
Thomas Barrabi

Texas toddler crushed to death by antique dresser as she climbed it to reach a toy: ‘It happened so quickly’

NY Post
2 months 3 weeks ago
"The guilt and shame has all but consumed me, knowing that if I had taken the precautions of anchoring this dresser, my baby would still be here and her sister would still have her best friend."
Richard Pollina

Behind Turkey's Gold Sales: The Biggest Ever Plunge In Foreign Reserves

Zero Rss
2 months 3 weeks ago
Behind Turkey's Gold Sales: The Biggest Ever Plunge In Foreign Reserves

Shortly after the Iran war started, with gold unexpectedly tumbling, we showed that the reason behind gold's paradoxical move - after all, the precious metal has traditionally been a store of value in times of geopolitical stress - was the furious liquidation of gold by emerging markets, in this case Turkey, scrambling to obtain reserve dry powder so Ankara could cover soaring costs of energy imports.

And indeed, the latest central bank data showed that Turkey’s foreign reserves had their biggest monthly decline on record in March, as the Iran war triggered global selloffs in emerging market assets and strained the lira.

According to balance-of-payments data released on Wednesday, Turkey's official reserves cratered by $43.4 billion in March. Part of the decline reflected state intervention to offset portfolio outflows. The current-account deficit, meanwhile, widened to $9.7 billion in March from $7.3 billion in February as a result of soaring commodity prices.

A major energy importer, Turkey has been hit hard by higher oil and gas prices caused by the effective closing of the Strait of Hormuz and the resulting disruptions to world supplies of crude and refined products. Meanwhile, global banks have started changing their formerly favorable outlook on the lira, citing the exploding current-account deficit. Should inflation pressures persist, Turkey will have no choice but to pursue another accelerated devaluation of the Turkish lira. 

“As international institutions continue to raise their average oil price forecasts for 2026, disruptions in supply chains and ongoing regional tensions — and their potential negative impact on transportation and tourism revenues — keep upward risks alive in year-end projections” for Turkey, said Istanbul-based economist Haluk Burumcekci.

Turkish central bank Governor Fatih Karahan said last week that the ratio between the current-account deficit and gross domestic product would be “below historical averages” this year while acknowledging the upside risks.

Since President Erdogan’s reelection in 2023, a new economic team has sought to stabilize Turkey’s external finances by cooling demand through conventional tools such as higher interest rates and restrictions on credit growth.

The central bank has kept its benchmark rate at 37% for two straight meetings but has effectively lended from a costlier rate of 40% since the outbreak of the Iran war — a technical measure to tighten liquidity without instituting a formal rate hike.

Inflationary pressures persist, however, with annual price growth picking up to 32.4% in April, a number that is set to rise higher in the coming months. 

Tyler Durden Mon, 05/18/2026 - 05:45
Tyler Durden

Instant AI answers can trivialise human intelligence, warns Royal Observatory

BBC Tech
2 months 3 weeks ago
Paddy Rodgers said the Observatory's rich history showed the power of human knowledge and the need to avoid "dependence" on AI.

Hundreds of picketing LIRR workers strike it rich with $100K-plus overtime hauls: ‘System is so distorted’

NY Post
2 months 3 weeks ago
Nearly a dozen striking LIRR workers are hauling in more than $200,000 a year in overtime alone — a mind-boggling figure that rivals Gov. Kathy Hochul’s entire salary.
Carl Campanile

Dems’ idiotic rhetoric on courts reveals what they’re really after

NY Post
2 months 3 weeks ago
In any other age, vocalizing illiterate nonsense about our system of governance might be an embarrassing career-ending flub. Today, it’s the norm among progressives.
David Harsanyi

Russian drone strikes Chinese ship, Ukraine says, ahead of Putin’s meeting with Xi

NY Post
2 months 3 weeks ago
"Russia once again demonstrates that its attacks pose a threat not only to Ukraine, now they are a risk even to its closest partners, whose ships are in the Black Sea," the Ukrainian Navy said.
Chris Bradford

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