Race for commercially viable net zero planes

Some 6% of European flights are long-haul (greater than 1000km), but going higher and farther, long-haul flights produce more than half of CO2 emissions.   Globally, the race is on to develop hydrogen cells that can replace kerosene in fueling long-haul flights.

Last September, a hydrogen fuel-cell plane capable of carrying passengers took its maiden flight in England.  Airbus also released details of three hydrogen-fueled concept planes, which it says could enter service by 2035.  See Hydrogen planes and electric propulsion and new regulations: Aviation is changing:

For shorter flights, electric propulsion batteries are being developed worldwide.

Of all the major industries that spew out planet-warming greenhouse gasses, one stands out as unfixable – so far. Fossil fuel power plants can be replaced with wind and solar power. One can switch to electric cars. But as Mark Phillips reports from the British Aviation History Museum for the “CBS This Morning” series Eye on Earth, the one thing aircraft have had in common down through the ages is aviation fuel. A commercially viable electric airplane cannot yet be made, aviation fuel is too powerful to replace with batteries. Here is a direct video link.

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Fintech designed to profit off ‘dumb’ money

There’s an inside joke in finance that I first heard in the 1990s:  “We take your money and our experience and make it our money and your experience.”

A popular fintech trope today is all about democratizing capital markets and helping little people to access the opportunities that insiders do.  Nothing could be further from the truth.  The farce of it might be comical if it weren’t so harmful in the end.

Ponzi schemes are all about attracting new capital in order to fund flows to earlier entrants; maintaining the illusion of legitimacy for as long as possible.  That’s what the vast majority of retail ‘innovations’ and offerings are really all about.  Cryptocurrencies are just one of the latest ways to abuse, see more in The Brutal Truth about Bitcoin. Here’s the important bottom line:

Ironically, rather than truly democratizing finance, some of these innovations may exacerbate inequality. Unequal financial literacy and digital access might result in sophisticated investors garnering the benefits while the less well off, dazzled by new technologies, take on risks they do not fully comprehend. Computer algorithms could worsen entrenched racial and other biases in credit scoring and financial decisions, rather than reducing them. The ubiquity of digital payments could also destroy any remaining vestiges of privacy in our day-to-day lives.

While Bitcoin’s roller-coaster prices garner attention, of far more consequence is the revolution in money and finance it has set off that will ultimately affect every one of us, for better and worse.

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Wilful Blindness author Sam Cooper in conversation

Oh, Canada…we have much cleaning up to do.

Sam Cooper is an award-winning national investigative journalist for Global News. His book, “Wilful Blindness: How a Network of Narcos, Tycoons, and CCP Agents Infiltrated the West”, is now available from Optimum Publishing International.  Here is a Spotify direct audio link.

Also available here on Apple: apple.co/3gAcsUi and Web: bit.ly/3glOLAz

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