Drone Regulations, Carbon Emissions And The Canadian Prime Minister
October 20, 2015
US Transportation Secretary claims he will expedite registration rules for recreational drone owners before Christmas due to “endangerment”; Obama administration announces successful reduction in carbon emissions of 81 major companies; Justin Trudeau elected new Canadian Prime Minister, could shift alliance with US on Keystone Pipeline; US home-building rebounds in September driven by boost in multifamily construction.
- U.S. Transportation Secretary Anthony Foxx said that he would expedite new rules to require recreational drone owners to register their devices before Christmas, citing that drones are “endangering manned aircraft.” He is ordering a task force of 25 to 30 industry and government representatives to recommend the specifics of a drone-registration system by Nov. 20. Regulators aim to issue final rules by mid-December. [WSJ]
- The Obama administration announced Monday that 81 companies have committed to large reductions in carbon emissions, part of a broad push by the White House to show progress ahead of international climate talks in Paris this year. These companies, which included Levi Strauss & Company, McDonald’s, I.B.M, and Procter & Gamble, have operations in all 50 states, employ over nine million people, and have more than $3 trillion in annual revenue and a combined market capitalization of over $5 trillion, according to the White House. This initiative is part of a continuing push to persuade businesses to move away from operations relying on coal and oil and toward ones that use more wind and solar power. Some of the companies, including Nike, have pledged to power their operations entirely with renewable energy or reduce carbon emissions to zero. The administration hopes to persuade more businesses to sign onto the climate pledge before the Paris climate talks begin in six weeks. [NYT]
- Canada elected a new prime minister, Justin Trudeau, who may help Canada reset its alliance with the U.S after Canadian Keystone Pipeline veto. The younger Trudeau defeated Prime Minister Stephen Harper in Monday’s elections, ending a nine-year reign that had shifted Canada politically to the right and bringing in a victory for the Liberal party. According to Bloomberg, Trudeau may seek to re-establish a relationship with U.S. President Barack Obama based on issues such as trade and climate following a Keystone XL veto. For the Canadian oil industry, Keystone and other pipelines remain a lifeline for companies hit by the slump in commodity prices over the past year. [Bloomberg]
Economic Indicators and News
- U.S. home-building rebounded in September, driven by a boost in multifamily construction. Housing starts rose 6.5% from a month earlier to a seasonally adjusted annual rate of 1.21 million in September, according to the Commerce Department on Tuesday.The increase was attributed to an 18.3% surge in multifamily units, including apartments and condominiums. Starts of single-family homes, which compose two-thirds of the market, barely budged, rising a mere 0.3%. New applications for building permits, an indication of future construction, fell 5% to a seasonally adjusted annual rate of 1.1 million. Year-to-date, housing starts are up 12%, while building permits are up 13%. Today’s report showed new-home starts for August were revised to a 1.7% decline after an initial estimate of a 3% decrease. [WSJ]