President Biden is ordering the release from the Strategic Petroleum Reserve of 1 million barrels per day on average for the next six months, he announced Thursday.
Why it matters: The historic release size underscores how much Russia's war is causing havoc in energy markets — and how the White House hopes to limit political fallout from high gas prices.
Germany initiated the first step of an emergency energy plan on Wednesday to preempt a potential disruption or halt in gas supplies from Russia, according to Reuters.
Why it matters: The unprecedented move indicates that the European Union is concerned that President Vladimir Putin's demands that Europe and the United States pay for gas exports in rubles could result in a Russian gas cut-off.
FedEx Express will soon begin testing a new short-haul air cargo system using autonomous vertical takeoff and landing (VTOL) aircraft developed by Elroy Air, a California startup named for the boy in the "Jetsons."
Why it matters: Self-flying cargo planes could help FedEx Express move goods among warehouses more safely and efficiently amid the exponential growth of e-commerce.
Driving the news: The companies said they would begin flight testing in 2023 in Fort Worth, Texas, using Elroy's Chaparral autonomous aircraft.
Like similar aircraft, Elroy's VTOL ascends and descends like a helicopter but flies like a plane.
It can pick up a cargo pod weighing 300 to 500 pounds without human interaction, and can deliver it within a range of 300 miles.
Unlike electric VTOLs from other manufacturers, Elroy's plane is a hybrid, so it doesn't require additional infrastructure such as airports or charging stations.
What they're saying: "When you're not limited by challenging infrastructure, traffic or airports, logistics can reach more people, faster than ever before," said Kofi Asante, Elroy Air's vice president of business development and strategy.
"We look forward to working together to create a new future for how we get goods to people around the world."
The big picture: The self-flying air cargo system is the latest step by FedEx to find innovative technologies to handle rising delivery volumes.
By potentially taking trucks off the road, the hybrid aircraft also helps FedEx toward its goal of carbon-neutral operations by 2040.
The Boston Red Sox on Wednesday are expected to announce that games at Fenway Park will be carbon neutral, a first for Major League Baseball, Axios has learned.
Why it matters: Sports venues like Fenway Park have large carbon footprints, particularly when attendee travel is taken into account.
