German minister criticizes U.S. over ‘astronomical’ natural gas prices
A photo of a natural gas flare burning near an oil pump jack at the New Harmony Oil Field in the U.S. on June 19, 2022.
Luke Sharrett | Bloomberg | Getty Images
Germany’s economy minister accused the U.S. and other “friendly” gas supplier states of astronomical prices for their supplies, suggesting they were profiting from the fallout of the war in Ukraine.
“Some countries, including friendly ones, sometimes achieve astronomical prices [for their gas]. Of course, that brings with it problems that we have to talk about,” Economy Minister Robert Habeck told regional German paper NOZ in an interview published Wednesday which was translated by NBC News. He called for more solidarity from the U.S. when it comes to assisting its energy-pressed allies in Europe.
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“The United States contacted us when oil prices shot up, and the national oil reserves in Europe were tapped as a result. I think such solidarity would also be good for curbing gas prices,” he said.
CNBC contacted the White House for a response to the comments and is awaiting a reply.
Habeck, the co-leader of Germany’s Green Party, which is a part of Berlin’s coalition government led by center-left Chancellor Olaf Scholz, said the EU should also do more to address the region’s gas crisis, with countries scrambling for alternative supplies which has pressured prices even more, that was brought about by the war in Ukraine and deteriorating relations with Russia.
Moscow’s state-owned gas giant Gazprom has cut supplies to the bloc drastically over the last few months, largely due to international sanctions and a desire to punish Europe — the EU used to import around 45% of its gas supplies from Russia but is seeking to halt all imports — for supporting Kyiv.
Habeck said the EU “should pool its market power and orchestrate smart and synchronized purchasing behavior by the EU states so that individual EU countries do not outbid each other and drive up world market prices.”
European market power is “enormous,” it just has to be used, he noted, according to the German news outlet.
Europe is facing a hard winter with gas shortages predicted across the region. Countries like Germany have been largely dependent on Russian gas supplies for decades with massive energy infrastructure, such as the Nord Stream 1 and 2 gas pipelines, designed to bring gas from Russia to Germany via the Baltic Sea.
While the $11 billion Nord Stream 2 pipeline was never even launched, with Germany refusing to certify the pipeline following Russia’s invasion of Ukraine in February, Nord Stream 1 has become a pawn in souring relations between Moscow and Brussels.
Over the summer, gas supplies via the pipeline stopped and started seemingly at Moscow’s whim, although it invariably cited the need for maintenance and sanctions as a reason for halting supplies. But then supplies came to a halt in September.
More recently, Russia and Europe’s energy ties have literally been damaged with the Nord Stream pipelines suffering leaks last month in suspicious circumstances.
Russia denied it had sabotaged the pipelines, with reported underwater explosions damaging the pipes in several places, sending natural gas spewing from the Baltic Sea. The damage prompted an international outcry with the EU vowing a “robust” response to attacks on its energy infrastructure.
After a rocky rollout of its “Full Self-Driving” (FSD) system in China, Tesla is dropping “FSD” from the name of the system while it faces increased scrutiny from regulators.
Last month, Tesla started rolling out a limited version of its FSD system in China, finally allowing driver assist features to be used on urban roads in the country after a long wait.
Tesla is facing competition from Chinese domestic manufacturers. BYD recently pushed a software update giving smart driving features to all of its vehicles – for free. This is surely part of what pushed Tesla to roll out its FSD system in China in the first place.
But immediately after that rollout, Tesla drivers started racking up fines for violating the law. Many roads in China are watched by CCTV cameras, and fines are automatically handed out to drivers to break the law.
It’s clear that the system still needs more knowledge about Chinese roads in general, because it kept mistaking bike lanes for right turn lanes, etc. One driver racked up 7 tickets within the span of a single drive after driving through bike lanes and crossing over solid lines. If a driver gets enough points on their license, they could even have their license suspended.
Between these troubles and a new set of rules for connected vehicles in China, Tesla rolled back its FSD rollout just this week, only a week after having announced a month-long free trial (as it has done in the US before).
It looks like it’s now making some naming changes, too – and these changes are timed in a way that suggests they might have something to do with that new scrutiny for connected vehicles.
The change in names appeared on Tesla’s website in the last day or so. You can see it below, in both Chinese and translated to English:
Previously, the system was called “FSD Intelligent Assisted Driving” in Chinese. The new name drops “FSD” from the title, and simply calls it “Intelligent Assisted Driving.” It has also previously been called “Full Self-Driving Capability” in China.
Tesla has received plenty of criticism over the years for the name of its system, which, despite being called “Full Self-Driving,” does not actually allow cars to fully drive themselves. Tesla changed the name to “Full Self-Driving (Supervised)” in the US last year, to show that a driver still needs to supervise the vehicle while the system is active.
Despite the name change, the system is still fetching the same price – 64,000 yuan, or about $8,800 USD. Each level of
Tesla also removed the world “autopilot” from the Chinese name for its lower version of driver assist software. This word is meant to evoke airplane systems which can do basic tasks but still require an attentive pilot to take over in case anything goes wrong, but has also been subject to criticism over the years because of the colloquial understanding that suggests drivers can stop paying attention while it’s turned on.
Tesla says that it still intends to offer its driver-assist system in China once it gets the necessary approvals. Perhaps today’s retreat in naming conventions is part of those requirements.
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The 2025 Hyundai IONIQ 5 SEL is more expensive than the more basic SE, but it’s a better lease deal this month – here’s the lowdown.
The 2025 IONIQ 5 SE Standard Range is the cheapest lease deal right now because it can be leased for $199 per month over 24 months with $3,999 due at signing.
If you want to drive the 2025 IONIQ 5 SE Long Range, which adds an extra 73 miles of range and 57 horsepower, the monthly payment rises to $229 per month over 24 months, with $3,999 due at signing. As CarsDirect points out, that puts the effective monthly cost at $396, and that’s a fantastic deal relative to the SE Long Range’s price of $48,125.
But when we look at the SEL trim, things get interesting: You can upgrade to the $51,075 SEL model for just $10 more per month.
Hyundai cut $40 off the lease price of the 2025 IONIQ 5 SEL in March, giving it a monthly price of $406. CarsDirect reports that Hyundai is able to offer this great deal on the SEL trim because of the comparably high residual value (65% vs. 63%) and $750 more in lease cash ($12,250 vs. $11,500) factored into the payment than the SE Long Range.
The SEL and SE Long Range have the same powertrain, but that extra $10 a month gets you projector headlights, roof rails, a hands-free power liftgate, a power passenger seat, heated rear seats, rear climate control vents, a heated steering wheel, and other goodies.
These 2025 Hyundai IONIQ 5 offers are advertised in Los Angeles and are valid through March 31.
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Environment
Tesla is banned from Canada EV rebate program, gov freezes suspicous $43 million in rebates
Tesla has been banned from upcoming federal EV rebate programs in Canada as the government freezes the suspicious $43 million in rebates that Tesla claimed days before the program was paused earlier this year.
Earlier this month, it was reported that Tesla claimed $43 million in government rebates from the iZEV federal EV rebate program in Canada just a few days before the program was paused due to a lack of funds.
The move was suspicious as it would have required Tesla to deliver over 8,000 vehicles at just 4 locations on a weekend, which is physically impossible.
It is believed that Tesla preemptively filed for thousands of rebates after being made aware of the pause to ensure it wouldn’t run out in an anticipated surge in demand due to the program’s pause.
However, this tactic proved problematic. The government told other car dealers who actually delivered EVs before the end of the program that they couldn’t get the rebates, which were already applied to the customer purchases, as Tesla took most of the money for vehicles it likely didn’t deliver.
Today, Chrystia Freeland, Canada’s new transport minister, confirmed that the funds have been frozen until it can investigate precisely what happened with Tesla’s rebates.
Furthermore, Freeland confirmed that Tesla will be banned from future federal rebates for electric vehicles. In this case, it has more to do with the trade war launched by President Trump, whose biggest political donor is Tesla CEO Elon Musk.
She said (via the Toronto Star):
No payments will be made until we are confident that the claims are valid. I also directed my department to change the eligibility criteria for future iZEV programs to ensure that Tesla vehicles will not be eligible for incentives so long as the illegitimate and illegal U.S. tariffs are imposed against Canada.
The federal government is following the same strategy as some provinces. British Columbia has recently banned Tesla products from its EV charger rebate. Nova Scotia just announced that it has excluded Tesla from its $2,000 rebate at the purchase of a new EV.
Quebec just relaunched its own EV incentive program today. It will come into effect next week, and so far, Tesla’s Model 3 and Model Y vehicles are still included in the list of eligible vehicles.
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