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Oil Fundamentals Overturn Geopolitical Risk

Oil Fundamentals Overturn Geopolitical Risk

Geopolitical risk from Iraq and…

Australia and U.S. Working Together on Renewable Aviation Fuels

Australia and U.S. Working Together on Renewable Aviation Fuels

The U.S. Department of Transportation’s Federal Aviation Administration and Australia’s Department of Resources, Energy and Tourism have initiated a Memorandum of Understanding to continue and coordinate research on the development of alternative renewable aviation civilian aircraft jet fuel.

U.S. Secretary of Transportation Ray LaHood and Australian Ambassador to the United States Kim Beazley signed the MOU earlier this week. LaHood told reporters, “Air travel is global and we need international partners to develop these innovative new fuels. Our ultimate goal is to work with all of the Asia Pacific nations to achieve a sustainable, independent energy future for aviation, and this is an exciting first step.”

Federal Aviation Administration Administrator Randy Babbitt said, “The Department of Transportation and the Federal Aviation Administration are committed to making aviation as clean and as energy efficient as possible as part of our NextGen air traffic modernization goals. This agreement and others with our international partners will enable the FAA to better share and exchange technologies and research to attain these goals not only for U.S. aviation but air travel on the global level,” a press release by the U.S. Department of Transportation’s Federal Aviation Administration stated.

By. Joao Peixe, Deputy Editor OilPrice.com



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