News
European Investment Bank set to vote on a major fossil fuel lending policy
The European Investment Bank (EIB), the world’s largest international public lending institution, will meet on October 15 to determine whether or not they should continue to fund oil and gas companies with billions of dollars. A potential cut in funding would mean a huge victory for eco-friendly groups, as it would bring an end to direct financial support from the EIB to the main contributors to the climate crisis: oil and gas companies.
European countries and citizens have made it clear that they understand the severity and urgency of climate-based issues, with eight countries in the EU already proposing bills and laws that would begin the phase-out of petrol-powered vehicles. The sale of these cars influences a negative environmental response in a direct manner, as emissions from internal combustion engines hurt the overall quality of the environment. As protests and marches that bring to light the issues of climate change have become more popular and frequent, citizens are doing their part as human beings to increase awareness of the ever-growing issues that fossil fuels provide to the Earth.
In Europe, EIB holds the key to beginning a new era of eco-friendly investing. Bill McKibben, an author, and Schumann Distinguished Scholar in environmental studies at Middlebury College, Vermont, stated that on October 15, the EIB will meet to discuss whether they will continue to fund projects that assist in the growth of the fossil-fuel industry. This meeting could be Europe’s next big step in the war against fossil-fuels.
In 2018, the bank supplied companies in the gas and oil sector with €2.4 billion for projects. If the EIB decides to begin pulling funding from petroleum-based projects, it could pave the way for eco-friendly options to receive financial backing. The EIB’s staff has proposed an end to providing gas and oil companies with funding, a project that would go into effect in 2020. However, resistance is expected to be encountered by governments who still believe in the use of fossil fuels: Germany and Italy to name a couple.
Climate activists know that the first steps in beginning the phase-out period for the use of pollution-inducing petroleum projects is to cut funding. Without money, projects cannot flourish. A key factor in fighting the fossil-fuel sector is to stop funding projects that do not help our environment. With ocean levels rising and global temperatures reaching all-time highs, the time to act is now.
In the U.S., the climate movement is alive and well, but the issue is navigating the government away from projects that involve gas and oil companies. With the country’s current political climate, there seems to be little hope that climate activists will be able to make any significant changes before the 2020 election. But that doesn’t mean that companies and organizations are not making efforts to initiate a “greener” future. In September 2019, the University of California scrapped an $80 billion endowment for stocks that would support fossil fuels.
Whether looking at the world from a transportation or energy stance, it is clear that the future is electric. Oil and gas are becoming less and less convenient, especially for 800,000 homeowners in California’s Bay Area after Pacific Gas and Electric (PG&E) shut off power in an attempt to reduce the possibility of forest fires at the beginning of the windy Autumn season. Tesla CEO Elon Musk made every attempt to help alleviate some of the inconveniences for those who are still without power by offering a discount on the installation of solar and battery systems for residences. In addition, Musk announced that Tesla owners would be able to charge their vehicles with the help of Tesla Powerpacks that will be installed to Supercharger stations within the affected region.
The next few years will be a crucial time for the Earth, as scientists have suggested that a significant amount of effort is needed to fight the global climate crisis. The United Nations’ leading climate scientists have warned that we have 12 years to begin fighting climate issues seriously, or there could be major consequences. Generations to come will have an unlimited amount of issues to fight, such as water and food shortages if action is not taken soon. But the question that remains is this: Can we afford to test this theory? Scientists could be wrong in the estimations, but can humans take the chance?
Tesla has stunned by gaining yet another approval for its Full Self-Driving suite in Europe, its second in two days and its fifth overall.
Belgium will be the latest country to allow Tesla owners to utilize FSD on public roads in Europe, joining a quickly growing list that started with the Netherlands, Lithuania, and Estonia.
On Tuesday, Denmark announced its approval of the FSD suite, which has now been followed by Belgium just one day later.
The country’s Minister of Mobility, Annick De Ridder, announced the approval on her X account, stating that she had just signed the approval of Tesla FSD. It now goes to the country’s homologation department for the last step of the approval process.
De @Tesla community houdt hier al geruime tijd de vinger aan de pols over de toelating voor de FSD-technologie op onze Vlaamse en Belgische wegen.
Uit waardering voor jullie niet-aflatende interesse (en aanmoediging 😉), krijgen jullie hierbij de primeur: ik heb net de toelating… pic.twitter.com/Yrps4OHTj8— Annick De Ridder (@AnnickDeRidder) June 10, 2026
The Belgian approval is one of mighty importance because it truly shows how quickly countries in Europe could greenlight the FSD suite consecutively. Approvals are already coming in relatively quickly, which is a great sign.
Perhaps the next big development that could come from FSD approvals in Europe is an approval from a country like England, Italy, France, Spain, or Germany. It would be something to see how FSD would perform in a major European metro, such as London, Barcelona, Madrid, Paris, Rome, or Berlin.
Getting Full Self-Driving in Spain and England will be such huge milestones for Tesla. I am so excited to see how FSD performs in Madrid, Barcelona, and London, specifically.
The ultimate test will always be Mumbai or New Delhi. Excited for India’s eventual approval! https://t.co/paw9Ch1qmL pic.twitter.com/9RdDERVSSJ
— TESLARATI (@Teslarati) June 9, 2026
Full Self-Driving does an excellent job of roaming around major U.S. cities like New York and Los Angeles, but other high-profile international cities of significance would truly mark a line in the sand for Tesla, which can simply enable any vehicle in its customer-owned fleet to run FSD with the correct approvals.
SpaceX CEO Elon Musk recently confronted worries about orbital data centers and launching satellites in mass quantities in space, as some voiced concerns about crowding.
Musk’s SpaceX plans to combat the issue of needing data centers by launching them into space instead of taking up valuable real estate on Earth. It has been a major point of SpaceX’s future, including its looming IPO, which could be the largest ever.
In a recent interview filmed at SpaceX’s Starlink terminal factory in Bastrop, Texas, Elon Musk directly addressed concerns that deploying large numbers of AI satellites for orbital data centers could crowd Earth’s orbit. His message was straightforward and reassuring: space is vast beyond human intuition.
“Space is really big,” Musk said. “It’s not like space is gonna get crowded. Space is enormous. If you actually look at it relative to the Earth, the satellites are so tiny you can’t even see them.” He emphasized that even zooming in makes a satellite appear large, but from a planetary perspective, they are minuscule specks.
Elon on concerns that AI satellites will crowd space:
“Space is really big. It’s not like space is gonna get crowded. Space is enormous. If you actually look at it relative to the earth, the satellites are so tiny you can’t even see them.” https://t.co/Mvr7NpL25Q pic.twitter.com/5Fi629Rii7
— Sawyer Merritt (@SawyerMerritt) June 8, 2026
Musk pointed to SpaceX’s real-world experience operating roughly 10,000 Starlink satellites as evidence that large constellations can be managed safely. “We’ve got a pretty good idea of how to operate just really large constellations and do it safely,” he noted. SpaceX remains the only operator with meaningful experience at this scale, giving the company unique insight into tight orbital packing without compromising safety
The discussion highlighted SpaceX’s plans for “AI1” satellites—essentially orbiting racks of AI compute powered by massive solar arrays and cooled via radiative panels in space’s vacuum.
These satellites leverage proven Starlink V3 technology, making them simpler to design than communications satellites. A first-generation unit targets around 150 kW peak power, with a 70-meter wingspan for solar panels and radiators. Laser links will connect them to each other and the Starlink network, delivering low-latency access (on the order of a few milliseconds from low-Earth orbit).
FCC accepts SpaceX filing for 1 million orbital data center plan
Musk framed orbital data centers as a practical solution to Earth’s constraints on AI growth. Ground-based facilities face power shortages, water demands for cooling, and grid limitations. In space, constant sunlight (no day-night cycle), vacuum radiative cooling, and abundant solar energy offer clear advantages.
Production will ramp up at an expanded “Gigasat” factory in Bastrop, with solar manufacturing already underway and full AI satellite output expected at reasonable volume by the end of 2027. Starship’s rapid, high-volume launch capability, aiming for multiple flights per hour, will make massive deployment feasible.
Critics sometimes raise risks like space debris or Kessler syndrome, but Musk’s response underscores scale: even a million satellites would represent an imperceptible fraction of available orbital volume when viewed against Earth’s size. SpaceX’s automated collision avoidance and deorbiting designs for Starlink further mitigate concerns.
This vision ties into broader ambitions. Musk sees orbital AI compute as a step toward harnessing more of the Sun’s energy, advancing humanity on the Kardashev scale from a Type 0 civilization toward Type 1 and eventually Type 2. By moving power-hungry data centers off-planet, SpaceX aims to unlock orders-of-magnitude more compute while preserving Earth’s resources.
Musk’s comments should ease public anxiety. With proven operational expertise, incremental engineering, and the immensity of space itself, orbital data centers represent not overcrowding, but smart expansion into the final frontier.
Tesla Full Self-Driving (Supervised) is currently listed as a Level 2 suite in terms of its passenger cars. As its Robotaxi platform continues to move quickly, it has been recognized as a Level 4 ride-sharing program by the State of Texas, as Tesla recently self-certified itself.
However, a Wall Street analyst is arguing that Tesla (NASDAQ: TSLA) has effectively achieved Level 4 autonomy in most conditions in all of its vehicles, drawing on personal experience and data released by the company.
Alex Potter of Piper Sandler said in a note to investors on Wednesday that “Tesla has solved the self-driving puzzle,” pointing to decisions to offer insurance discounts for FSD-enabled policies as a signal of confidence, which is backed up by stellar safety records compared to human driving.
Investing.com initially reported on Potter’s new note.
Additionally, Potter looks at the recent start of Cybercab production at Giga Texas as a potential indication that Tesla is ready to offer some level of unsupervised driving at least in the near future. The Cybercab has no steering wheel or pedals, completely eliminating the ability for human input.
He also sees Tesla’s allocation of “several hundred million USD (if not $1B+)” as confidence internally, seeing as it would be tough to set aside that amount of capital toward a project that the company does not see as relatively near-term.
Forward thinking, especially as Cybercab has no human controls, it would make sense that Tesla is at least close to self-driving. How close is another question.
Tesla has routinely teased that unsupervised FSD is close, but there are still a lot of things it feels as if the company has to roll out some more capability, including unsupervised parking features, known as “Banish,” better operation with regional self-driving performance, and other improvements.
That is not to say that Tesla FSD is super impressive already. It has already completed coast-to-coast drives across the United States and Canada, it routinely takes the stress out of driving for most people, and it has proven through Tesla Safety Reports that it is safer and involved in accidents less frequently than humans.
🚨 These are the first-ever FSD safety statistics out of the Netherlands, showing it was over 3.5x safer than human driving on Dutch roads.
The most recent numbers out of Tesla for North America show:
-Over 5.5 million miles between accidents for Teslas using FSD
-660k miles… https://t.co/XKlRzgSGEh pic.twitter.com/HX6kzh0ZKc— TESLARATI (@Teslarati) June 9, 2026
Even Potter believes it is capable, as he used it to go from Missoula, Montana, to Minneapolis, Minnesota, back in April.
“There’s no substitute for personal experience,” he wrote.
Tesla stuns with another FSD approval in Europe, its second in two days
SpaceX’s Elon Musk relieves worries about orbital data centers
