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New York City is on the brink of implementing congestion pricing, a bold move aimed at reducing traffic in Manhattan’s most congested areas. While this initiative promises to alleviate gridlock and generate funds for public transportation, it also means drivers will face additional costs to navigate through certain parts of the city. But what if I told you there’s a way to avoid these fees entirely?

Starting on June 30, 2024, vehicles entering the Congestion Relief Zone in Manhattan, which includes local streets and avenues below 60 Street, will be charged a new entry toll.

According to the Metropolitan Transit Authority (MTA), the move is designed to help with NYC’s infamous congestion considerably. “The toll will result in 100,000 fewer vehicles entering the zone every day, relieving crowding in what is today the most congested district in the United States.”

Daily tolls to enter Manhattan will vary based on the vehicle and time of day, but most passenger cars will be charged $15 to enter during the day, and motorcycles will be charged $7.50.

But there’s an easy way to enter Manhattan and avoid paying the toll: just ride a bike. Or better yet, an electric bike. Using bike lanes across the bridges or taking a bike on the subway are both easy ways to get into Manhattan without paying congestion pricing, and still ensuring you’ve got your own wheels to navigate the city.

Bikes are a great way to get around NYC. According to the MTA, the average speed of cars in Manhattan is around 7 mph (12 km/h). But bicycle riders can easily surpass that speed and slice past traffic by using the bike lanes. To go even faster with less sweat, electric bikes make the ride even more efficient.

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Why e-bikes are the perfect solution

There’s no getting around the congestion pricing if you’re in a car. Your options to avoid paying congestion pricing are either start driving an ambulance or get a bike. And these days, getting a bike quite often means getting an e-bike, since e-bike sales are through the roof. Pedal bikes are still an amazing option, but e-bikes make it easier to go longer distances without the same exhaustion, especially for riders who haven’t been on a bike in years. Electric bikes are not just a trend; they are a revolution in urban transportation. Here’s why they are the best way to bypass congestion pricing in NYC:

1. No congestion fees

This one is obvious. E-bikes, like traditional bicycles, are exempt from congestion pricing. This means you can zip through Manhattan’s busiest streets without worrying about paying extra fees. As the city gears up for congestion pricing, this exemption becomes a significant financial advantage for daily commuters.

2. Speed and efficiency

NYC traffic can be notoriously slow, with cars often moving at a crawl, if moving at all. E-bikes offer a swift and efficient alternative, especially with their ability to navigate through traffic with ease. Most e-bikes can reach speeds of up to 20 mph on throttle only (meaning no pedaling necessary), and others can reach 28 mph with pedaling, making them a viable option for quick commutes across the city.

3. Eco-friendly

Reducing your carbon footprint has never been more critical. We’re in a race against the clock here. If we’re to hope that we can still save our planet and maintain a habitable climate into the future, we’ve all got to play a part. E-bikes are one of the greenest modes of transportation, producing zero emissions during use. By opting for an e-bike, you contribute to a cleaner environment, supporting NYC’s goal of becoming a more sustainable city.

And yes, without going down the rabbit hole on this subject too deeply, you’re correct that there is a carbon price tag associated with manufacturing an e-bike. But the average amount of emissions offset by e-bikes is so much larger than the emissions generated from their production and use that it’s not even worth giving more than a paragraph to that flawed argument.

4. Health benefits

Riding an e-bike is not only good for the environment but also for your health. Even with the motor assist, you can still get a decent workout, which can improve cardiovascular health and reduce stress levels. Plus, there’s nothing quite like the feeling of wind in your hair as you cruise through the city.

5. Cost-effective

Beyond avoiding congestion fees, e-bikes are cost-effective in other ways. They require less maintenance than cars, and you won’t have to worry about parking fees or fuel costs. Over time, the savings can be substantial, making e-bikes a smart financial choice. Some riders have found that switching to an e-bike from a car has saved tens of thousands of dollars over the years.

Making the Switch

If you’re convinced that an e-bike is the way to go, here are a few tips to get you started:

Choosing the Right E-Bike

  • Consider your commute: Think about the distance and terrain of your daily commute. Different e-bikes offer various ranges and power levels, so choose one that fits your needs. That’s an issue my wife recently grappled with when she switched to e-bike commuting each day.
  • Test ride: Before making a purchase, test ride a few models to find one that feels comfortable and suits your riding style.
  • Check local regulations: Familiarize yourself with NYC’s e-bike regulations to ensure your new ride is compliant. For example, UL-compliant batteries are required to sell an e-bike in NYC.

Safety First

  • Wear a helmet: There is a hot debate about helmet usage, but especially for new riders in a city where pedestrian and cycling injuries and deaths are on the rise due to heavier cars and distracted drivers, a helmet is an important piece of safety gear. Safety should always come first. A good-quality helmet can protect you in case of accidents.
  • Follow traffic rules: E-bikes are subject to the same traffic laws as traditional bicycles, and these rules are even often the same as cars. Obeying traffic signals and signs is crucial for your safety and the safety of others.
  • Be visible: Equip your e-bike with lights and reflective gear, especially if you plan to ride at night.

Maintenance

  • Regular check-ups: Keep your e-bike in top condition with regular check-ups. Simple maintenance tasks, like keeping the tires inflated and the brakes checked, can ensure a smooth ride.
  • Professional servicing: For more complex issues, don’t hesitate to take your e-bike to a professional. Regular servicing can extend the lifespan of your e-bike and avoid small issues turning into larger issues. For folks that commute daily on their bikes, this is even more important. E-bikes require significantly less maintenance than cars, but it is still important to do routine checks.

As NYC prepares to roll out congestion pricing, now is the perfect time to rethink your daily commute. E-bikes offer a practical, cost-effective, and eco-friendly alternative to driving, allowing you to navigate the city with ease and avoid extra fees. Embrace the future of urban transportation and join the e-bike revolution today.

By making the switch, you’ll not only save money but also contribute to a healthier, more sustainable city. So, what are you waiting for? Hop on an e-bike and ride your way out of congestion pricing as you blow past all of those suckers on the bridges!

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Energy giants Baker Hughes, Woodside shy away from making oil forecasts as Iran-Israel conflict escalates

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Energy giants Baker Hughes, Woodside shy away from making oil forecasts as Iran-Israel conflict escalates

Fire and smoke rise into the sky after an Israeli attack on the Shahran oil depot on June 15, 2025 in Tehran, Iran.

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The CEOs of two major energy companies are monitoring the developments between Iran and Israel — but they aren’t about to make firm predictions on oil prices.

Both countries traded strikes over the weekend, after Israel targeted nuclear and military facilities in Iran on Friday, killing some of its top nuclear scientists and military commanders.

Speaking at the Energy Asia conference in Kuala Lumpur on Monday, Lorenzo Simonelli, president and CEO of energy technology company Baker Hughes, told CNBC’s “Squawk Box Asia” that “my experience has been, never try and predict what the price of oil is going to be, because there’s one sure thing: You’re going to be wrong.”

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Simonelli said the last 96 hours “have been very fluid,” and expressed hope that there would be a de-escalation in tensions in the region.

“As we go forward, we’ll obviously monitor the situation like everybody else is. It is moving very quickly, and we’re going to anticipate the aspect of what’s next,” he added, saying that the company will take a wait-and-see approach for its projects.

At the same conference, Meg O’Neill, CEO of Australian oil and gas giant Woodside Energy, likewise told CNBC that the company is monitoring the impact of the conflict on markets around the world.

She highlighted that forward prices were already experiencing “very significant” effects in light of the events of the past four days.

If supplies through the Strait of Hormuz are affected, “that would have even more significant effects on prices, as customers around the world would be scrambling to meet their own energy needs,” she added.

As of Sunday, the Strait remained open, according to an advisory from the Joint Maritime Information Center. It said, “There remains a media narrative on a potential blockade of the [Strait of Hormuz]. JMIC has no confirmed information pointing towards a blockade or closure, but will follow the situation closely.”

Iran was reportedly considering closing the Strait of Hormuz in response to the attacks.

'Closely' watching Israel-Iran to be able to help meet energy needs: Woodside CEO

O’Neill said that oil and gas prices are closely linked to geopolitics, citing as examples events that date back to World War II and the oil crisis in the 1970s.

Nevertheless, she would not make a firm prediction on the price of oil, saying, “there’s many things we can forecast. The price of oil in five years is not something I would try to put a bet on.”

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The Strait of Hormuz is a vital waterway between Iran and the United Arab Emirates. About 20% of the world’s oil passes through it.

It is the only sea route from the Persian Gulf to the open ocean, and the U.S. Energy Information Administration has described it as the “world’s most important oil transit chokepoint.”

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Santos shares soar over 15% on ADNOC-led group’s $18.7 billion takeover bid

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Santos shares soar over 15% on ADNOC-led group's .7 billion takeover bid

A series of images of landscapes and wildlife from the Brigalow Belt region of Queensland near the town of St. George.

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Shares of Santos surged as much as 15.23% Monday, after it received a non-binding takeover offer of $18.72 billion by an Abu Dhabi’s National Oil Company-led group.

The move marks the biggest intraday jump in the Australian oil and gas producer’s shares since April 2020, LSEG data shows.

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CNBC Daily Open: Israel’s conflict with Iran sends tremors through markets

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CNBC Daily Open: Israel's conflict with Iran sends tremors through markets

Fire and smoke rise into the sky after an Israeli attack on the Shahran oil depot on June 15, 2025 in Tehran, Iran.

Getty Images | Getty Images News | Getty Images

Israel’s airstrikes on Iran Friday sent reverberations through financial markets.

Oil prices jumped on fears that supply from Iran, the world’s ninth-largest oil producer in 2023, would be disrupted.

Prices of gold, the stalwart shelter in times of crises, rose. Investors flock to the precious metal amid uncertainty because it serves as a stable store of value that is mostly resistant against exogenous shocks, such as inflation or geopolitical conflicts.

And the dollar strengthened, as it is wont to do when the world looks ugly. Recall the dollar smile: The greenback will appreciate when things are really good because investors want in on U.S. risk assets, or when they are really bad because investors want in on the perceived safety of U.S. government bonds.

The fact that the dollar increased in value against other currencies traditionally perceived as safe havens, such as the Swiss franc and Japanese yen, emphasizes the primacy of king dollar, despite rumblings of de-dollarization and concerns over U.S. government debt.

Stocks, the financial risk asset epitomized, fell across markets globally.

Despite the markets giving multiple indications we are entering a period of ugliness — or, at least, volatility — U.S. stocks still appear resilient, and the surge in oil prices only brings us back to where they were about three months ago as prices have been low since, CNBC’s Michael Santoli wrote.

The markets have, indeed, mostly shrugged off Russia’s invasion of Ukraine and the Israel-Hamas war, both of which are still brewing. But with the conflict between Israel and Iran still in its early days, it might pay to be extra cautious in the coming weeks.

What you need to know today

Israel strikes Iran
On Sunday, Israel launched a series of airstrikes across Iran. That marks the
third day of violence between the two nations. Armed conflict broke out when Israel struck Iran’s nuclear facilities early Friday local time. In retaliation, Iran launched more than 100 drones toward Israeli territory. Those events are likely just the beginning in a rapid cycle of escalation, according to regional analysts.

Stocks retreat globally
U.S. futures rose Sunday night local time. On Friday, fears of a wider conflict in the Middle East sent stocks lower. The S&P 500 lost 1.13%, the Dow Jones Industrial Average fell 1.79% and the Nasdaq Composite retreated 1.3%. Europe’s Stoxx 600 index dropped 0.89%. Travel and airline stocks on both sides of the Atlantic fell as the outlook for international travel grew cloudy and airlines suspended their Tel Aviv flights.

Safe haven assets in demand
Investors piled into safe-haven assets after Israel’s attack on Iran. After weeks of declining, the dollar index, a measurement of the strength of the U.S. dollar against other major currencies, rallied 0.3% on Friday and was up 0.1% as of 7:30 a.m. Singapore time Monday. Spot gold rose 0.38% and gold futures for August delivery were up 0.41% Monday, adding to Friday’s gains of 1.4% and 1.5% respectively.

Prices of oil jump
Oil prices surged as investors feared a disruption to oil supply from Iran, which produced 3.305 million barrels per day in April, according to OPEC’s Monthly Oil Market Report of May. As of Monday morning Singapore time, U.S. crude oil rose 2.22% to $74.62 a barrel, adding to its 7.26% jump on Friday. The global benchmark Brent climbed 2.22% to $75.88 a barrel, following Friday’s 7.02% surge.

[PRO] U.S. stocks still look resilient
Even though stocks fell on the eruption of conflict between Israel and Iran, the market appeared resilient, wrote CNBC’s Michael Santoli. This week, while hostilities between the two Middle East countries will continue weighing on investors’ minds, they should not lose sight of the Federal Reserve’s rate-setting meeting, which concludes Wednesday.

And finally…

The Boeing 787-9 civil jet airplane of Vietnam Airlines performs its flight display at the 51st Paris International Airshow in Le Bourget near Paris, France. (Photo by: aviation-images.com/Universal Images Group via Getty Images)

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