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tv   Business - News  Deutsche Welle  August 23, 2022 6:45pm-7:01pm CEST

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and dare to step in one of these will show you the prototype of a flying taxi whose makers believe it could soon be swarming above our heads. chris kolber, welcome to the program. could canada become a realistic supplier of much needed natural gas to germany? the question today, as the german chancellor shoals continues his visit to the country, prime minister just introduced greeted shots on monday. his country currently ships only a fraction of its gas and oil to the you, but most relaxed terminals for liquefied natural gas on its east coast. still germany, homes, canada could free up some capacity for an elegy, shipments in the short term now and green hydrogen theories in the long run. i offer madison to know didn't make publicly any promises about ellen gee, but said he would take a look at the possibility. we are in a situation in the short term where we will do what we can to contribute to the
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global supply of energy by increasing our capacities in the short term and explore ways to see if it makes sense to export l n g. and if there's a business case for it to export l, n g directly to europe, and that's something that economic conversations going on between businesses in canada and in, in germany and spring in leon as big in natural gas analyst at research consultancy energy aspects. welcome to d w leon. so the canadian prime minister, very politely, they're saying if there is the business case for it, will these ellen g deliveries from canada to germany ever happen? i think at the moment with prices on the european benchmark, a t t f at around 250 years and what all are, there's definitely a business case for really any export of natural gas to try and run for production
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and to export any available supplies into the european market, but that is something that is not really going to help europe in the case of canada . in the short term, you're looking at a lack of liquefaction capacity and terminals at canada's east coast on the west coast. when you're looking at this, which means that in the, in the media short term, and also in the medium term, there's not really any significant way for canada to provide. and then g to europe and germany in particular. right? i mean there's a lot of open questions there. you mentioned the fact that there's no liquefied natural gas terminals on the east coast and the fact that canada wants to scale back. it's carbon footprint anyway. so there's been the idea of canada increasing. it's ellen, g deliveries to asia, and the u. s. galli is scaling back. those in favor of shipping more an l. n g to germany. does that sound more feasible? do i think what, what this means is that it's, it's
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a miracle reshuffling of supply in the global balance. but when you look at the overall total amount of supply that is available for any gas consumer in the world, re on the, on the global scale, it means that the overall pool of gas is still unchanged. there's still the same amount of gas that is available for everyone in the world. it's the same size of the pie. so when you're looking at maybe an increasing efficiency in that, you might see canadian canadian producing export is focusing more in asia freeing up short or travel times for an n g facilities in the east coast of the united states to deliver something into the european market. but the overall amount of liquefaction capacity in the world is still the same and that won't help europe to actually size of the increase. it's allen g imports in the, in the short medium leon, briefly, if you could, how do you view the government's attempts? the german government attempts to secure alternatives to russian gas so far?
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well, i think all rather the german government is as doing everything and can of also and when you're looking at this working from the market perspective, really it is letting prices signal to the market that there is an incentive for every producer to export as much goes into the european market as possible, which means that these high prices that we are seeing, they are working to some extent, you are looking at sizable year and you're increases in energy supplies and european market. you're looking at norwegian production being maxed off. the problem with this is that obviously this is going to create and is already creating a significant burden on the industrials across europe. and also, and consumers simply because high prices need to be passed through. and that is going to be something that policy makers will need to grapple with over the coming months and years. and d analysts, leon is vicki. thank you. thank you. and now to some of the other global business stories making news added s. c. o. caspar ross,
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that will leave his post early next year and what both companies and both party say is a mutual agreement. so far a replacement hasn't the name i did is blamed week sales. the important chinese market for the change russian internet search, giant yaks will sell is home page and news aggregator site to state control drive a v. k. sale marks a dramatic shift in russia's inner landscape. indexes board of directors say the move is and shareholders interest. but critics say it further expands the criminal control of russia's me. the euro is under pressure once again, the common currency remaining below parity with us dollar as of mid day tuesday. it's lowest value since the year. 2002 pressure on the currency has been mounting in recent months. more recently, russian stayed on for gas problem, announced it would again pause deliveries in its major natural gas pipeline, rattling investors. the euro last lit below parity the summer in july and gas from
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shut off flows for annual maintenance. and it's not just that announcement from gas from gas prices were already rising fast and recent days, driving of electricity prices and weighing on households and businesses. those rising energy prices are pushing up broader inflation fears. meanwhile, the head of germany is bonus bank said in an interview over the weekend that inflation could reach 10 percent in the fall. and then there's the strong dollar powered by interest rate hikes, which is also working against the euro. let's take a closer look at the matter with hi k. yep. gus, professor for international economics and berlin's h t. w. university of applied scientist. welcome to the w, i can. so a lot of factors working here against the euro, and now russia non still hold gas applies for 3 days. completely at the end of the month. how low do you expect the euro to fall in the coming weeks?
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oh, i have to say i didn't try to estimate that back. of course we've seen the euro already at much lower levels against the u. s. dora and the 200200122. so we would probably reach similar limit levels. but i thought really trying to guess it, but we should be prepared to see the euro falling at the same time, i mean, the slump or this decline of the euro parts of it at least a seem inevitable. i mean, as long as the u. s. federal reserve seems at least one step ahead of the european central bank in raising interest rates. yes, and there are many reasons why this will continue. so we already have an interest difference between the u. s. and the european euro area by more than 2 percentage points and financial investors rightly expect that this will even increase in the
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future. why this, as you have just said, the u. s. has, or the sort of reserve bank of the u. s. has already increased interest rates much more already earlier than the european central bank. but there are many reasons why this might continue in the future. why that although we have rather similar inflation levels in this country state this figure where 8 percent more than a percent of both countries. i'm the composition of the inflation is different. i receive this pressure mounting on the euro now and for the foreseeable future. how much does that say about the current economic power of the common currency area? it rather said, that's a, something about how attractive is it to invest in the u. s. into financial assets in the us versus financial s. as it's in your area, of course, you have a financial asset that implicitly also depend on the economic power on the 2
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country groups. in the u. s. what is really different is 1st day recession risk, you to guess delivery problems is less high then for europe. second in the u. s, we have much better wage developments and better in the sense that they're so high that they are a problem for the federal reserve. bank because that implies that in the usa are much more pacing it problematic price, wage earl that can just continue going on and the european union, we don't have that to that extent here because our firms, it's to the university of applied sciences. thank you. thank you. not escaping the regular grid. log on the road by just flying over. it sounds like a plan to me and there are those that believe that flying taxis will be a thing soon. among them are people german company, lithium,
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which has come up with a prototype. it's to carry 6 passengers and the pilot where they range of more than 200 kilometers. take a look. this is atlas test center in spain. a very special aircraft is about to take off phoenix to the prototype of the flying taxi's of the future. that is developed under high pressure by german company. lilian. the startup is in competition with 100 other developers worldwide. all of which seek to be one step ahead in the approval process. yield of lucas. we did a noise. every flight is a new chapter. even if we say the test flying is like testing the boundaries also next limiting and then the next one also has to be ready. let's take a step back to the gate. phoenix 2 flies unmanned and is remotely controlled. one by lit 6 passengers and a range of more than 200 kilometers. that's how these flying dikes is aimed to
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compete with cars and chains, especially in urban areas. it's been into no, i'm an engineer. i understand the physics behind this aircraft to you when i stand next to it, i'll see it flying and i hear how quiet it is. and the way the whole team built it to operate safely. even for me, it's like a miracle. this looks like seizures from the time. another miracle william needs is to achieve the ambitious goal of making more than 5000000000 euros worth of seals in just a few years. daniel ligand has been heavily criticized due to these kinds of promises, but that hasn't damped v gans ambition on so long twisting and miss your, our long term vision is that we want to make regional flights sustainable light as well as making them accessible to as many people as possible. the prototype has successfully completed around 30 test flights in spain, and it's software is still being adjusted in the beginning, only particularly val declines would be able to travel by this kind of air taxi.
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but wiegand is not alone. independent traffic experts say the sky's the limit for more electric aircrafts, voice to me because it's still, let's wait and see that's i shall for now for more checkout website at d, w dot com slash business, or force the dw, and use youtube chat. i'm critical of our bowling thanks for watching. having successful that ah ah, with
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a moving team is taking off because of the growing traffic in germany, it's showing dynamic impulses that have global impact, particularly inventions for out of space. now, playing a decisive role here on our planet. read 30 minutes on d. w. one light for you with one like 4 years. amazing holiday. one like for your impeccable bmw, one like, for your sake happiness. the dictatorship of happiness on social media.
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w ah ah, this is the w use life from berlin. ukraine balance to take that crimea president, florida lensky, valence. he won't stop fighting russia until the antics territory is back in ukrainian. hads waste and leaders bound to support him. germany's chance the olaf shows his in canada to get access to new energy sources. berlin is trying to win itself off rational oil and gas before winter, but this won't be a quick fix.


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