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SpaceX’s massive Starship set to launch for 1st orbital flight

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Another new rocket is ready to take to the skies. This time, it’s SpaceX’s Starship, which will be a critical component of the Artemis III mission that will return humans to the lunar surface.

SpaceX has been working on the rocket for several years, with the goal of using it to take heavier payloads into orbit, to the moon and eventually to Mars. The company’s founder and CEO Elon Musk has also envisioned a version that could ferry people around the world.

After multiple delays, it appears that SpaceX is finally going to blast this rocket for its first orbital mission, potentially on Monday or Tuesday.

Here’s what you need to know ahead of the first orbital launch of Starship.

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What is Starship?

When you first take a look at Starship, it may bring to mind the old rockets of the early 1940s and 1950s (Musk himself responded to a tweet in 2019 where one user hinted that the original design of Starship reminded him of that used in The Adventures of Tintin).

It is made up of two stages: the booster stage (called the Super Heavy) and the spaceship itself. Stacked together, they are called Starship, but to make matters more confusing, the spaceship itself is also called Starship.

To date, Starship (the spaceship), has only ever flown to 12.5 kilometres in altitude. Of the four high-altitude test flights, only one has ever successfully landed. The first one — SN8 — slammed into the ground, while the second one — SN10 — landed and then exploded. In March 2021, SN11 also managed a “rapid unscheduled disassembly” as Musk has come to call these explosions.

WATCH | Starship’s SN15 high-altitude flight test:

[embedded content]

Finally, on May 5, 2021, SN15 successfully landed. It was the last time any version of Starship ever flew.

While those tests returned Starship to SpaceX’s Starbase facility in Boca Chica, Texas, for this test, the first stage will make a landing in the Atlantic Ocean, while the Starship will make splash down in the Pacific Ocean, off the coast of Hawaii.

The booster for this launch is called Booster 7, and the Starship is SN24.

The Super Heavy rocket has the most engines of any rocket at 33. On Feb. 9, it did a test of the engines, but only 31 ignited.

What is new about this?

Starship is unlike any other vehicle ever launched.

It launches vertically, in two stages, and then the booster stage — like the first stage of SpaceX’s Falcon 9 rocket — returns to the launch pad and is caught by arms dubbed “chopsticks.” And, eventually, when the spaceship’s job is done, it, too, returns to the pad. But instead of coming in vertically as the boosters do, the ship will do a “belly flop” throughout most of the atmosphere, before manoeuvring to land in a upright position.

A silver spaceship hangs in the sky horizontally.
This image shows Starship SN9 spaceship in its bellyflop position as it returns to SpaceX’s Starbase in Boca Chica, Texas, after a test flight where it reached 10 kilometres in altitude before it crashed and exploded on landing. (SpaceX)

Another unique ability Starship has, is to launch a fuelling spacecraft that will dock with the passenger or cargo spacecraft.

All of this is designed to be reusable.

“Starship is a potentially revolutionary technology in that it’s a super-heavy lift rocket,” said Canadian Jordan Bimm, a postdoctoral researcher at the University of Chicago and a space historian. “And it will have the largest launch capacity of any rocket that humans have designed so far. And it has the added additional benefit of potentially being reusable.”

When fully stacked in the two stages, the rocket will be 120 metres tall, bigger than NASA’s Space Launch System (SLS) rocket that will launch astronauts into orbit in 2024 as part of the Artemis II mission.

WATCH | Canadian astronaut Jeremy Hansen looks ahead to his moon mission:

Canadian astronaut Jeremy Hansen looks ahead to his moon mission

12 days ago

Duration 13:08

Canadian astronaut Jeremy Hansen sits down with CBC’s Nicole Mortillaro to talk about being chosen for the Artemis II mission, what this means for Canada and what he’s most looking forward to experiencing during the mission.

It will also be the most powerful rocket ever built, also surpassing the lift capability of SLS.

This launch of Starship also marks another first: It will be the first time any spacecraft has launched into orbit from Texas, Bimm noted.

Why is this important?

Musk envisions Starship to have multiple uses.

First, it’s heavy-lift capability of up to 90 to 136 metric tonnes surpasses that of SLS, which can lift with anywhere from 23 to 41 metric tonnes.

That gives it the advantage for missions requiring heavy payloads.

But more than that, Starship will be used as the landing vehicle for NASA’s Artemis III mission that will once again return humans to the surface of the moon.

For that mission, NASA’s Orion spacecraft will lift off from Earth, head to the moon, followed or preceded by Starship. Then, while in a special orbit called a halo orbit, it will unite with Starship, on which the astronauts will transfer and then land on the moon.

An illustration shows a black and white rocket upright on the surface of the moon.
This illustration show’s the SpaceX Starship human lander design that will carry NASA astronauts to the moon’s surface during the Artemis III mission. (SpaceX)

“The Starship variant that is supposed to be part of Artemis III — the human landing system — is absolutely critical,” Bimm said. “And if that does not come online in time that Artemis III will either be delayed or it will, it will become another sort of like fly-around-the-moon mission like Artemis II, so [NASA] is quite dependent on SpaceX having its act together and and having this mission be a success.”

Space historian and former NASA illustrator Paul Fjeld questions whether or not Starship’s Human Landing System (HLS) will be ready in time for the Artemis III mission.

“[Musk] has to prove this thing in a way that NASA is comfortable with, which means he has to fly 30 times, 40 times,” he said.

“He has to do the really hard thing with Artemis, which is to get a tanker in orbit, and then launch maybe five fuel re-dumps, then send the actual lunar lander up, dock with it, fill it up with propellant, take off for the moon, do a landing — and that’s the demo. You’ve got to do an [uncrewed] demo, then come back with a whole thing, and go into whatever that halo orbit is, where he would rendezvous in with an Orion spacecraft. And then he’s got to do it again. And he’s got to prove this many, many, many times.”

But Musk has bigger sights set: on Mars.

He has said many times that he wants to make humans “a multi-planetary species.”

[embedded content]

He plans to use Starship to carry upward of 100 humans to the Red Planet, and eventually create a human settlement.

When the rocket lifts off — whether it’s next week or not — it will be quite a sight to see and hear, with its 33 Raptor engines propelling the mighty spaceship on its historic first big test. And NASA will likely be paying very close attention.

 

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Tesla Promises Cheap EVs by 2025 | OilPrice.com – OilPrice.com

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Tesla Promises Cheap EVs by 2025 | OilPrice.com



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Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

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Tesla has promised to start selling cheaper models next year, days after a Reuters report revealed that the company had shelved its plans for an all-new Tesla that would cost only $25,000.

The news that Tesla was scrapping the Model 2 came amid a drop in sales and profits, and a decision to slash a tenth of the company’s global workforce. Reuters also noted increased competition from Chinese EV makers.

Tesla’s deliveries slumped in the first quarter for the first annual drop since the start of the pandemic in 2020, missing analyst forecasts by a mile in a sign that even price cuts haven’t been able to stave off an increasingly heated competition on the EV market.

Profits dropped by 50%, disappointing investors and leading to a slump in the company’s share prices, which made any good news urgently needed. Tesla delivered: it said it would bring forward the date for the release of new, lower-cost models. These would be produced on its existing platform and rolled out in the second half of 2025, per the BBC.

Reuters cited the company as warning that this change of plans could “result in achieving less cost reduction than previously expected,” however. This suggests the price tag of the new models is unlikely to be as small as the $25,000 promised for the Model 2.

The decision is based on a substantially reduced risk appetite in Tesla’s management, likely affected by the recent financial results and the intensifying competition with Chinese EV makers. Shelving the Model 2 and opting instead for cars to be produced on existing manufacturing lines is the safer move in these “uncertain times”, per the company.

Tesla is also cutting prices, as many other EV makers are doing amid a palpable decline in sales in key markets such as Europe, where the phaseout of subsidies has hit demand for EVs seriously. The cut is of about $2,000 on all models that Tesla currently sells.

By Charles Kennedy for Oilprice.com

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Why the Bank of Canada decided to hold interest rates in April – Financial Post

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Divisions within the Bank of Canada over the timing of a much-anticipated cut to its key overnight interest rate stem from concerns of some members of the central bank’s governing council that progress on taming inflation could stall in the face of stronger domestic demand — or even pick up again in the event of “new surprises.”

“Some members emphasized that, with the economy performing well, the risk had diminished that restrictive monetary policy would slow the economy more than necessary to return inflation to target,” according to a summary of deliberations for the April 10 rate decision that were published Wednesday. “They felt more reassurance was needed to reduce the risk that the downward progress on core inflation would stall, and to avoid jeopardizing the progress made thus far.”

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Others argued that there were additional risks from keeping monetary policy too tight in light of progress already made to tame inflation, which had come down “significantly” across most goods and services.

Some pointed out that the distribution of inflation rates across components of the consumer price index had approached normal, despite outsized price increases and decreases in certain components.

“Coupled with indicators that the economy was in excess supply and with a base case projection showing the output gap starting to close only next year, they felt there was a risk of keeping monetary policy more restrictive than needed.”

In the end, though, the central bankers agreed to hold the rate at five per cent because inflation remained too high and there were still upside risks to the outlook, albeit “less acute” than in the past couple of years.

Despite the “diversity of views” about when conditions will warrant cutting the interest rate, central bank officials agreed that monetary policy easing would probably be gradual, given risks to the outlook and the slow path for returning inflation to target, according to the summary of deliberations.

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They considered a number of potential risks to the outlook for economic growth and inflation, including housing and immigration, according to summary of deliberations.

The central bankers discussed the risk that housing market activity could accelerate and further boost shelter prices and acknowledged that easing monetary policy could increase the likelihood of this risk materializing. They concluded that their focus on measures such as CPI-trim, which strips out extreme movements in price changes, allowed them to effectively look through mortgage interest costs while capturing other shelter prices such as rent that are more reflective of supply and demand in housing.

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They also agreed to keep a close eye on immigration in the coming quarters due to uncertainty around recent announcements by the federal government.

“The projection incorporated continued strong population growth in the first half of 2024 followed by much softer growth, in line with the federal government’s target for reducing the share of non-permanent residents,” the summary said. “But details of how these plans will be implemented had not been announced. Governing council recognized that there was some uncertainty about future population growth and agreed it would be important to update the population forecast each quarter.”

• Email: bshecter@nationalpost.com

Bookmark our website and support our journalism: Don’t miss the business news you need to know — add financialpost.com to your bookmarks and sign up for our newsletters here.

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Meta shares sink after it reveals spending plans – BBC.com

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Woman looks at phone in front of Facebook image - stock shot.

Shares in US tech giant Meta have sunk in US after-hours trading despite better-than-expected earnings.

The Facebook and Instagram owner said expenses would be higher this year as it spends heavily on artificial intelligence (AI).

Its shares fell more than 15% after it said it expected to spend billions of dollars more than it had previously predicted in 2024.

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Meta has been updating its ad-buying products with AI tools to boost earnings growth.

It has also been introducing more AI features on its social media platforms such as chat assistants.

The firm said it now expected to spend between $35bn and $40bn, (£28bn-32bn) in 2024, up from an earlier prediction of $30-$37bn.

Its shares fell despite it beating expectations on its earnings.

First quarter revenue rose 27% to $36.46bn, while analysts had expected earnings of $36.16bn.

Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown, said its spending plans were “aggressive”.

She said Meta’s “substantial investment” in AI has helped it get people to spend time on its platforms, so advertisers are willing to spend more money “in a time when digital advertising uncertainty remains rife”.

More than 50 countries are due to have elections this year, she said, “which hugely increases uncertainty” and can spook advertisers.

She added that Meta’s “fortunes are probably also being bolstered by TikTok’s uncertain future in the US”.

Meta’s rival has said it will fight an “unconstitutional” law that could result in TikTok being sold or banned in the US.

President Biden has signed into law a bill which gives the social media platform’s Chinese owner, ByteDance, nine months to sell off the app or it will be blocked in the US.

Ms Lund-Yates said that “looking further ahead, the biggest risk [for Meta] remains regulatory”.

Last year, Meta was fined €1.2bn (£1bn) by Ireland’s data authorities for mishandling people’s data when transferring it between Europe and the US.

And in February of this year, Meta chief executive Mark Zuckerberg faced blistering criticism from US lawmakers and was pushed to apologise to families of victims of child sexual exploitation.

Ms Lund-Yates added that the firm has “more than enough resources to throw at legal challenges, but that doesn’t rule out the risks of ups and downs in market sentiment”.

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