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Diplomatic sprint derails Trump's Strait of Hormuz toll plan
politics15 hours ago

Diplomatic sprint derails Trump's Strait of Hormuz toll plan

Trump announced a 20% toll on cargo through the Strait of Hormuz, prompting a 24-hour lobbying sprint by aides and Gulf allies who warned it would raise oil prices and violate international law; after intense appeals from Saudi Arabia, the UAE, Bahrain and Qatar and warnings from advisers, he reversed course, with Gulf partners instead offering investments to the U.S., signaling a transactional approach to foreign policy amid the Iran conflict.

via CNN|
#foreign-policy#gulf-states#politics
Iran and Oman Weigh Permanent Strait Toll to Cement Regime
world1 month ago

Iran and Oman Weigh Permanent Strait Toll to Cement Regime

Iran and Oman are exploring a permanent transit toll for ships through the Strait of Hormuz, aiming to formalize Tehran’s control via a new Persian Gulf Straits Authority. Iran has started applying tolls and conditional rules with exemptions for allies, while the US opposes a permanent toll and demands free, untolled transit under international law, a stance that could affect ongoing peace talks and regional security dynamics.

via investingLive|
#iran#maritime-security#oman
Tehran's Toll: Could a $2 Million Pass-Through Redraw Global Oil Costs
world2 months ago

Tehran's Toll: Could a $2 Million Pass-Through Redraw Global Oil Costs

A fresh round of US–Iran talks centers on Tehran’s plan to let Iran charge up to $2 million per vessel transiting the Strait of Hormuz, a toll meant to fund reconstruction and extend de facto control over the chokepoint. Legality is contested under UNCLOS, and sanctions complicate payments. The toll could add about $20 million per day to oil costs (roughly $7 billion a year) and raise tanker and insurance fees, potentially keeping global prices higher even if volumes gradually return. Bruegel suggests the world economy might barely notice the cost, but the policy sets a worrying precedent and raises the risk of broader disruption or recession if tensions escalate; revenues could bolster Iran’s economy and IRGC amid sanctions and outages.

via The Guardian|
#hormuz#iran#oil-prices
Iran’s Strait Toll: A Strategic Lever That Could Tilt Global Energy Prices
world3 months ago

Iran’s Strait Toll: A Strategic Lever That Could Tilt Global Energy Prices

Analysts warn Iran could levy a toll on ships through the Strait of Hormuz, a chokepoint handling about 20% of global oil and LNG, creating de facto control and a new geopolitical risk. A proposed tariff around $1 per barrel could equal roughly $2 million per tanker, but experts say the toll alone may not drastically raise production costs; it could, however, lift risk premiums and insurance costs and keep energy prices elevated if used as leverage, while infrastructure damage in the Gulf remains a bigger factor driving prices.

via CBS News|
#energy-prices#geopolitics#oil
"NYC Makes History with $15 Manhattan Congestion Toll Approval"
transportation2 years ago

"NYC Makes History with $15 Manhattan Congestion Toll Approval"

The MTA board has approved a $15 toll for drivers entering Manhattan's busiest streets, set to be enforced in June, despite public criticism and legal challenges. The tolls will vary for different vehicle types and times of entry, with the aim of reducing congestion and generating revenue for transit upgrades. Critics argue that the toll could unfairly target some drivers and push traffic and pollution into other areas, leading to lawsuits from New Jersey Governor Phil Murphy and labor unions.

via One America News Network|
#congestion-pricing#lawsuit#mta
"NYC's Imminent $15 Congestion Pricing: What You Need to Know"
transportation2 years ago

"NYC's Imminent $15 Congestion Pricing: What You Need to Know"

Congestion pricing in NYC is set to start as early as mid-June, with drivers entering Manhattan below 60th Street being charged a fee, ranging from $15 for passenger vehicles to $36 for large trucks during peak hours. The toll will be automatically charged to E-ZPass holders, while others will receive a bill. Exemptions include emergency vehicles, vehicles transporting people with disabilities, and government automobiles involved in public works. The program aims to reduce traffic, travel time, and emissions, with the revenue being used to upgrade transport infrastructure.

via Time Out|
#congestion-pricing#manhattan#mta
"NYC's $15 Congestion Pricing: What You Need to Know"
transportation2 years ago

"NYC's $15 Congestion Pricing: What You Need to Know"

New York City is set to implement a $15 congestion pricing toll for drivers entering Midtown Manhattan in mid-June, with the aim of reducing congestion and raising $1 billion annually for subway and bus system upgrades. The toll will vary based on vehicle type and time of day, and will be collected via E-ZPass or mailed bills. Some vehicles, such as emergency and government vehicles, will be exempt. Critics argue that the plan is a cash grab and may divert traffic to outer boroughs, while the MTA defends it as a means to improve public transportation infrastructure.

via New York Post |
#congestion-pricing#manhattan#mta
The Controversy Surrounding NYC Congestion Pricing and Transit Availability
transportation2 years ago

The Controversy Surrounding NYC Congestion Pricing and Transit Availability

New York City's congestion pricing plan, which will charge drivers a toll for entering much of Manhattan below 60th Street, is facing criticism from various groups. Opponents worry about increased costs for commuters, potential traffic congestion in other areas, and negative impacts on low-income drivers and taxi drivers. However, supporters argue that congestion pricing will reduce traffic and pollution, improve the transit system, and provide crucial funding for mass transit improvements. The plan, which proposes toll rates for cars, commercial trucks, taxis, and ride-hail apps, is expected to begin next spring pending public hearings and a final vote.

via The New York Times|
#congestion-pricing#new-york-city#public-transportation
"NYC Drivers Face $15 Toll to Enter Congested Manhattan Streets"
transportation2 years ago

"NYC Drivers Face $15 Toll to Enter Congested Manhattan Streets"

New York City drivers may face a $15 toll to enter Manhattan's busiest streets under a congestion pricing proposal expected to be filed with MTA officials. The Traffic Mobility Review Board (TMRB) is set to recommend the fee for passenger cars, pickup trucks, and SUVs driving south of 60th Street between 5 a.m. and 9 p.m. on weekdays, and from 9 a.m. to 9 p.m. on weekends. The toll would only be charged once per day, with a $5 discount during peak traffic hours for motorists using the Hudson and East River tunnels. The congestion pricing program is scheduled to begin in May 2023.

via New York Post |
#congestion-pricing#new-york-city#toll
"MTA Panel Set to Recommend $15 Congestion Pricing Toll for NYC's Busy Streets"
transportation2 years ago

"MTA Panel Set to Recommend $15 Congestion Pricing Toll for NYC's Busy Streets"

The MTA panel is expected to recommend a $15 congestion pricing toll for drivers entering Manhattan below 60th Street during most hours of the day. The plan includes a $15 fee for passenger vehicles, with discounts for overnight hours and tunnel crossings, and higher tolls for trucks. Taxis and app-based for-hire vehicles will also have surcharges. Low-income drivers will receive a 50% discount for the first 10 trips each month, and publicly-owned vehicles for public work will be exempt. The tolls are expected to be implemented in mid-2024 and are required to generate $1 billion annually for MTA infrastructure upgrades.

via Gothamist|
#congestion-pricing#manhattan#mta