Trump Reverses Biden Fuel Standards; Climate Study Retracted; MH370 Search Resumes

Fuel Efficiency Standards Reversed

• 🚗 President Trump has officially terminated the Biden-era CAFE standards, which required vehicles to achieve 50 miles per gallon by 2031.
• 📉 The new standard has been reduced to 34 miles per gallon, with the administration citing a goal to ease the cost of living for Americans.
• 💡 Automakers, like Ford CEO Jim Farley, believe progress on emissions and efficiency can be made while offering customers choice and affordability.

Retracted Climate Change Economic Study

• 🔬 The scientific journal Nature has retracted an influential paper that overestimated the economic toll of climate change.
• ⚠️ The original paper estimated a 62% drop in global economic output by 2100, but this was skewed by faulty data from Uzbekistan.
• 📊 After correcting the data, the estimated economic impact dropped to 23%, though still considered significant.
• 🏦 Central banks and policymakers used the retracted study for policy and regulation, and will now need to re-evaluate their models.

Resumption of MH370 Search

• ✈️ Malaysia's transport ministry is resuming the deep-sea hunt for the remains of Malaysia Airlines Flight 370, which disappeared on March 8, 2014.
• 🗺️ The plane, carrying 239 people, vanished from radar and is believed to have crashed in the southern Indian Ocean.
• 🔍 US Marine robotic company Ocean Infinity will conduct the search across 5800 square miles, with a $70 million reward if the wreckage is found.