Jet fuel prices are rising to levels not seen since before the Covid pandemic and it’s set to drive up airfares, United Airlines CEO Scott Kirby said Wednesday.
“Higher jet-fuel prices lead to higher ticket prices,” Kirby told CNBC’s “Squawk on the Street.” “Ultimately, we’ll pass that through.”
United forecast average fuel costs of $2.39 a gallon in the fourth quarter, when it expects a surge in bookings from the end-of-year holidays and recently loosened international travel restrictions. That’s up from $2.14 a gallon in the third quarter and the $2.02 on average it paid in the fourth quarter of 2019.
Kirby said higher demand usually drives fuel prices up. The increase in demand is a welcome trend for an industry that continues to struggle to return to profitability.
United posted a $473 million profit for the third quarter, thanks to $1.1 billion in federal aid, though a surge in delta-variant cases of Covid-19 weighed on its bottom line. The Chicago-based airline reiterated that it expects its 2022 costs, excluding fuel to be lower than 2019.
The company’s shares were up about 1.7% in premarket trading Wednesday.
The automaker never commented on the situation other than releasing this picture as part of a presentation. The image pretty clearly shows a wireless charging station and Tesla did briefly acquire a startup that focused on wireless charging before selling back most of its assets, but not before integrating some of its staff.
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Cybertruck was expected to be the first Tesla vehicle to feature wireless charging.
Based on this fact, it was clear that Tesla planned to release a home wireless charger with an optional retrofit receiver for the Cybertruck.
Wes Morrill, Tesla’s lead engineer for the Cybertruck, has now confirmed that Tesla has given up on those plans.
In new comments unearthed from Discord, Morrill confirmed that Tesla has no plan to bring wireless charging for the Cybertruck because it is too high:
Nothing planned there, wireless charging for something as far off the ground as CT is silly. You’d need a base station that’s like 6 inches tall. The main reason we didn’t make the trunk tub fill that space was actually we did that initially and no one could reach stuff at the bottom because it was too deep.
The engineer is claiming that the Cybertruck is sitting too high, which would create too big of a gap between the ground transmitter and the on-car receiver – reducing efficiency.
This sounds like a very solvable problem. The Cybertruck has the ground clearance to drive over a taller wireless ground pad.
I think that’s not really what’s happening here.
Wireless charging at higher power is less efficient and for that loss of efficiency, you only gain a few seconds of not having to plug in a cable. It’s already a solution to a very small problem, which only gets slightly bigger in a future where autonomous vehicles are more common.
But I think the main problem is that Cybertruck didn’t sell nearly as well as Tesla thought it would.
Tesla is having difficultites selling 20,000 units per year. The program is achieving nowhere near the volume that the company was aiming for. It makes it harder to develop accessories and related products if you know that the consumer base for those accessories is going to be small.
Cybercab was also supposed to support wireless charging, but I wouldn’t hold my breath for that either.
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Tesla has unveiled two new energy storage products: Megapack 3, the latest generation of its utility-scale energy storage system, and Megablock, which integrates Megapack 3 with transformers and switchgear.
At an event in Las Vegas on the margins of the RE+ renewable energy convention, Tesla unveiled its latest generation of large-scale energy storage products.
As expected, Tesla unveiled Megapack 3, the latest generation of its biggest stationary energy storage battery system.
The company is now using bigger 2.8-liter battery cells, resulting in a higher energy capacity: roughly 5 MWh compared to 3.9 MWh for Megpack 2.
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Tesla also significantly simplified the thermal bay, reducing the number of connections by 78%.
However, the more significant product unveiled by Tesla today is the Megablock, which combines four Megapack 3s directly connected to a megavolt transformer and switchgear.
This is what it looks like:
Tesla claims 23% faster installation time with more of the assembly being done in a factory setting rather than on-site.
Mike Snyder, Tesla’s VP of energy and charging, claimed that Tesla can deploy 1 GWh in 20 business days with this new Megablock configuration.
The company also claims a higher energy density at the site: 248 MWh per acre.
The energy executive stated that the factory would have a capacity of 50 gigawatt-hours (GWh) per year.
Electrek’s Take
This sounds like a strong incremental improvement to an already popular energy storage product.
However, the new battery cells are probably the biggest part of the improvement and Tesla doesn’t manufacture those.
In fact, Tesla’s battery cell suppliers BYD and CATL, both have battery systems that compete with Tesla’s Megapack, which could prove problematic for Tesla in the near future.
I think Tesla’s strongest energy storage product is probably its Autobidder software. It optimizes energy storage products like nothing else. It would do well to keep licensing this to other energy storage systems.
Tesla’s next biggest advantage is the complete integration of energy storage, power electronics, software, and service. It makes for an attractive turnkey solutions for utilities and large-scale projects, like AI data centers.
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China’s clean energy surge is starting to transform the world’s energy systems, according to Ember’s “China Energy Transition Review 2025.” The report shows that China’s massive investments in solar, wind, storage, and electrification are cutting fossil fuel use at home while sending clean tech around the globe.
Between 2015 and 2023, fossil fuel use in China’s final energy consumption fell by 1.7% across buildings, industry, and transport, while electricity use rose by 65%. In power generation, fossil output dropped 2% in the first half of 2025 year-over-year, while wind and solar generation soared 16% and 43%, respectively. In the 12 months to June 2025, wind and solar generated more electricity than hydro, nuclear, and bioenergy for the first time. Just four years earlier, they produced only half as much.
This momentum is being fueled by record investment. In 2024 alone, China invested $625 billion in clean energy – 31% of the global total – with major expansions in storage and grids. That money doubled wind and solar capacity in China between 2021 and 2024 to 1,400 GW and tripled battery storage to nearly 95 GW. Grid spending also hit $85 billion last year, making integrating renewables and cutting curtailment easier.
As of 2023, electricity made up 32.4% of China’s final energy consumption, and it rises by about one percentage point per year. It’s the biggest source in buildings (39%) and industry (31%), overtaking coal in the latter sector for the first time in 2023.
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Ember’s analysts say the transformation is deeply baked into China’s economy. Clean energy isn’t just about climate goals – it’s cheaper, more secure, and a foundation for future competitiveness. In 2024, clean energy investment and production contributed $1.9 trillion to the national economy – about a tenth of China’s GDP, equal to Australia’s entire economy.
Globally, China’s clean energy boom is reshaping markets: the country makes 80% of the world’s solar panels and 60% of its wind turbines, while leading exports of EVs, batteries, and heat pumps. It’s also filing three out of every four clean energy patents worldwide. That flood of tech has pushed costs down, letting emerging economies leapfrog straight into clean power systems. In fact, in 2024, a quarter of emerging economies sourced more of their final energy from electricity than the US, and nearly two-thirds generated a higher share from solar.
This shift spells trouble for fossil fuel exporters. China’s energy-related fossil fuel consumption will likely keep falling as electrification accelerates and exports of cheap clean tech grow. For decades, China was the main driver of global fossil demand. “Now, as its own consumption peaks and begins to decline, and as its clean energy exports scale globally, it is set to tip the balance, turning a long era of rising global demand into the start of structural decline,” said Sam Butler-Sloss, manager at Ember.
Still, Ember warns, the future of global fossil fuel demand isn’t set in stone. Rapidly growing economies outside the OECD could still offset China’s declines unless clean technologies scale just as quickly there.
But China’s case is proof of concept. “It shows what’s possible when long-term vision meets coordinated action,” said His Excellency Dr Suwit Khunkitti, Thailand’s former deputy prime minister. “It proves that decarbonization can go hand in hand with industrial upgrading, job creation, and improved quality of life.”
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