How rapidly rising mortgage rates are squeezing prospective homebuyers

How rapidly rising mortgage rates are squeezing prospective homebuyers
How rapidly rising mortgage rates are squeezing prospective homebuyers
Phillip Spears/Getty Images

(NEW YORK) — For Emily and Michael Brown, the Federal Reserve’s rate hikes hit close to home.

The Browns had been renting a two-bedroom apartment in Washington, D.C., when their now-6-month-old daughter was born. Eager to upgrade to a bigger space, the couple wanted to put their savings to use buying their first home.

But as they looked for a place to live this year — and watched mortgage rates, and their potential monthly payments, steadily climb — the couple lowered their budget from $500,000 to $400,000 and decided to put an offer on a home farther away from the city, with less space and fewer amenities.

“As the rates kept going up, we had to really bring down our budget and also be a little bit more realistic about what we were going to get for that budget,” Emily Brown, a high school math teacher, told ABC News.

Mortgage rates have more than doubled since January, lenders and real estate companies say, spurred by aggressive interest rate increases as the Fed attempts to curb high inflation. Many Americans searching for homes are lowering their budgets and making trade-offs — as they face higher monthly mortgage payments.

“Many homebuyers have dropped out of the housing market entirely because they can’t afford any home that fits their needs,” Daryl Fairweather, the chief economist at real-estate brokerage company Redfin, told ABC News.

As the Fed keeps hiking interest rates to try to tame historic inflation, mortgage rates have spiked to levels not seen since the 2008 financial crisis. And with the central bank expected to increase rates again on Wednesday — as inflation remains stubbornly high — some aspiring homeowners find themselves stuck on the sidelines altogether.

“The price of homes has jumped so much in the past year. Then you take into account the high interest rates, it’s really a tough position to be in as a first-time homebuyer,” Emily Brown said.

Mortgage rates hit 14-year high

For the first time since 2008, the average rate on a 30-year fixed mortgage is now above 6%, Freddie Mac said last week. The financial services company Bankrate estimates that a borrower taking out a $300,000 loan at that rate is paying about $500 more every month than they were before the Fed increases, which began in March.

“Since interest rates have risen, I’ve had to reduce the amount that I can afford each month, depending on my down payment and what a monthly mortgage would be,” Simone Jacobs, a therapist in Silver Spring, Maryland, told ABC News.

After renting for seven years, Jacobs had hoped to buy a property as a longer-term investment. But rising rates and still-high home prices have kept her out of the market.

“If nothing comes up or there’s nothing that sort of is affordable, then, you know, I will just wait,” she said.

‘It did kind of put us in a pickle’

Rapidly rising mortgage rates have also squeezed buyers building new homes.

Wesley and Kimberly Robinson, both elementary school teachers, started building a new home for themselves and their two daughters in Rogers, Arkansas, last year, when interest rates were close to 3%.

“With the low interest rates, we thought, Hey, if we’re going to ever upgrade, now’s the time,” Wesley Robinson told ABC News.

But as the COVID-19 pandemic stalled construction and the Fed continued to raise interest, their mortgage rate ended up to 5% when they finally locked it in this summer — adding about $300 to $400 to their monthly mortgage payment, according to Wesley Robinson.

“It did kind of put us in a pickle,” he said.

And now he fears higher mortgage rates might scare off buyers for their old home, which they have yet to sell.

“If now rates are like 6% or higher, do we need to like discount our home a little bit?” he asked. “We don’t want our home to sit there for weeks and weeks unsold. We kind of need the money.”

Fewer bidding wars as markets cool, particularly in the West

Real estate agents told ABC News that they are seeing homebuyers who had locked in low rates on their initial mortgages waiting to sell, amid the prospective of taking on costlier loans, which is keeping housing inventory low in much of the country.

“What we’re seeing now as a result of the rising interest rates is that you’re not getting as many offers as before,” said Jay Nix, a realtor in Washington, D.C., who worked with the Browns.

Less competition is leading to fewer bidding wars for those who are able to afford to buy, multiple real estate agents said.

“The good news is that you can get your offer accepted much more easily now because you’re not facing as much competition,” Fairweather, Redfin’s chief economist, said. “But the bad news is that the mortgage is going to be much more expensive.”

There are signs the housing market is beginning to cool in some parts of the country.

Redfin said Wednesday in a new report, provided first to ABC News, that Seattle’s housing market is slowing faster than any other in the United States, followed by Las Vegas and San Jose, California. The firm looked at changes from February to August, comparing metrics ranging from home prices and the number of pending sales to the total supply and the speed of sales.

The top 10 markets cooling the quickest were “almost all either West Coast markets that have long been expensive, or places that became significantly less affordable during the pandemic because they attracted scores of relocating homebuyers,” according to Redfin.

Rents on the rise

Hoping to buy someday, many prospective homebuyers remain stuck on the sidelines — grappling with high increases in rent.

Rent costs increased 6.7% in August from a year before, the biggest spike in nearly 40 years, according to the U.S. Bureau of Labor Statistics.

“If you wait a couple more years, your rent keeps going up,” said Redfin’s Fairweather. “And then you have to deal with the expense of higher prices and more competition in the housing market.”

For the Browns in Washington, that calculation convinced them to put in a winning bid on a home. They are set to close next month.

“We really just thought about if we continue to rent, you know, that money could go toward the mortgage,” said Emily Brown, whose husband is an Army veteran.

“It’s a big life decision,” she added. “So — you do the math.”

Copyright © 2022, ABC Audio. All rights reserved.

Internal FDA report on infant formula crisis details shortfalls in response

Internal FDA report on infant formula crisis details shortfalls in response
Internal FDA report on infant formula crisis details shortfalls in response
AlasdairJames/Getty Images

(WASHINGTON) — An internal review of the Food and Drug Administration’s actions leading up to the infant formula crisis finds a combination of human error, antiquated technology, and poor communication and accountability amongst an already threadbare food workforce all contributed to a perfect storm of problems which exacerbated the supply shortage.

The issue was only worsened by the FDA’s lack of a robust mandate to strong-arm industry players’ compliance, the review found.

During more than 40 interviews with over 60 FDA staff and leadership “directly involved with the events that transpired” the review found “inadequate processes and lack of clarity” may have delayed the agency’s response to contamination concerns at at infant formula maker Abbott’s facility in Sturgis, Michigan; and that at several junctures, critical information slipped through the cracks of agency awareness.

In a statement, FDA Chief Robert Califf said the agency didn’t have the power to force the industry’s hand.

“The situation at the Abbott Sturgis facility has highlighted just how little authority the FDA has to compel many companies to ‘do the right thing’ without intervention,” Califf said.

The internal review echoed that sentiment: “a confluence of systemic vulnerabilities” here demonstrated the need for more investment in modern tools and tech to prepare for future public health challenges.

FDA’s limited mandate and resources prevent them from managing “supply chain issues and shortages of critical food products,” the review said, especially when it comes to a supply chain like that of baby formula, which had already been strained by the Covid pandemic — and which Abbott’s recall and pause in production further stressed.

The review also noted that the contaminant and illness at the heart of Abbott’s massive shutdown, Cronobacter sakazakii, is “poorly understood” and lacks thorough federal oversight — and that those “scientific gaps” in understanding Cronobacter “hindered the FDA’s response throughout the incident.”

The discovery of Cronobacter inside Abbott’s Sturgis plant prompted a massive voluntary formula recall in February, after four babies who had consumed Abbott’s formula contracted a Cronobacter infection. Two of the infants subsequently died, although Abbott maintains there has not been conclusive evidence that its formula caused the infant illnesses, since none of the Cronobacter strains found at their plant matched the two samples genetically sequenced from the sickened infants.

Ultimately, it was the combined findings of Cronobacter inside Abbott’s plant — along with a pattern of serious operational deficiencies and consumer complaints — which led to its closure.

In a statement to ABC News regarding the internal review, an Abbott spokesperson said, in part, they “will continue raising the bar” on their formula’s regulatory requirements “by working with FDA and industry partners to further advance infant formula safety and processes.”

Abbott’s shutdown ricocheted across the country, exacerbating the supply shortage and forcing families to scramble for alternatives in the hyper-concentrated formula market.

FDA’s Califf has previously noted some of the points outlined in the report released Tuesday: that the response was “too slow,” with “decisions that were suboptimal along the way,” while warning that FDA’s workforce is “very tired, overworked,” and the agency’s food safety arm is underfunded.

Califf has also previously underscored FDA’s lack of authority to “compel companies to give us information,” and has pointed the finger instead at Abbott’s failure to be upfront about the issues at their plant.

Critics of FDA’s response have previously pointed out that there was a brewing problem in the formula market before Abbott’s shutdown — and that the administration had plenty of warning signs both about the pandemic supply chain issues and about Abbott’s quality control problems long before things reached a boiling point this spring.

But this report contains several new details about repeated fumbles in the response, including crucial delivery system errors and a need for better staff communication at the FDA.

The review says FDA found that some samples taken from Abbott’s Sturgis plant after their contamination concerns came to light “were delayed in transit by third party delivery companies.”

The review comes after FDA leadership revealed this spring that a whistleblower complaint from a former Abbott employee detailing a “litany of violations” at the Sturgis plant had remained in limbo for months. That complaint had been sent to the FDA last October, but was not delivered, seen or escalated until four months later — because of, what the FDA has said, was “an isolated failure in FDA’s mailroom, likely due to COVID-19 staffing issues.”

The new internal review now says that such gaps in coordination between systems (though here, punting accountability to a “third party,”) “makes it difficult for the agency to connect related submissions and rapidly identify emerging safety and quality issues.”

“The FDA should evaluate procedures for shipping and testing samples sent to regulatory laboratories and consider whether changes should be made to analytical capability and capacity, and ways to enable immediate notification and escalation of analytical results for significant public health threats,” the review says.

The review adds that the agency is “collecting an inventory of every entry point for consumers, whistleblowers, other government agencies, clinicians, and other members of the public to facilitate notification to the FDA of their concerns about product safety and quality,” which will help “streamline” safety concerns to “rapidly assess emerging safety signals.”

The internal review ultimately identified five major findings for FDA to improve upon, including the need for more modern data technology which “allows for the access and exchange of data in real time to all the people involved in response.”

“The lack of coordination between systems makes it difficult for the agency to connect related submissions and rapidly identify emerging safety and quality issues,” the report says, and “inadequate processes and lack of clarity related to whistleblower complaints may have delayed the FDA’s response to those complaints.”

The review also underscores the need for FDA to optimize its emergency response capabilities to handle multiple concurrent public emergencies. FDA “lacks procedures for facilitating this complex coordination of staff on response activities that expand beyond the established foodborne outbreak response policies and procedures,” the review found.

The review also blames Covid infections at the manufacturing facility which “delayed the FDA’s in-person response to complaints raised” regarding Abbott’s Sturgis plant, and underscores the need to strengthen FDA’s food workforce including more training, staffing, equipment, funding and regulatory authorities “to fulfill the FDA’s mission.”

It also emphasizes the importance of closing knowledge and oversight gaps on Cronobacter and translating that knowledge into “appropriate control measures.”

Those gaps in understanding “hindered the FDA’s response throughout the incident,” the review said.

It also noted, FDA oversight should focus on accountability within the infant formula industry, which employs “dated technology and record keeping practices that can cause delays in collecting critical information needed to perform and define the scope of recalls.”

Moreover, the FDA lacks robust enforcement teeth to make sure companies are adhering to best practices of strong food safety culture, the review said; manufacturers aren’t required to make Cronobacter isolates available to the FDA for sequencing and uploading into the national database, which “limits the data available to help identify clusters of illness and potential sources of contamination.” Without further authority “it will be difficult for the FDA to identify early signals of potential safety issues and work with manufacturers to mitigate these hazards.”

FDA’s Califf had asked for this review to be done; the agency will “form working groups charged with implementing the recommendations,” and a year from now, FDA’s progress on the above recommendations will be assessed, the review said.

Meanwhile, the U.S. Department of Health and Human Services’ Office of Inspector General has also launched its own audit into how the FDA responded leading up to the recall and closure of Abbott’s Sturgis plant — and whether they followed proper recall protocol once deadly bacteria had been detected inside the plant. Findings from OIG’s audit are expected sometime in FY 2023.

The FDA says they are working with the OIG and “looks forward” to their “findings and recommendations.”

Copyright © 2022, ABC Audio. All rights reserved.

Little Leaguer seriously injured in fall goes home from hospital: ‘So grateful’

Little Leaguer seriously injured in fall goes home from hospital: ‘So grateful’
Little Leaguer seriously injured in fall goes home from hospital: ‘So grateful’
ABC News

(NEW YORK) — A Little League World Series player who was seriously injured after falling from a bunk bed while staying at the Little League World Series Complex in Williamsport, Pennsylvania, is back home in Utah after getting discharged from the hospital.

Easton Oliverson’s parents say they’re thankful to have their 12-year-old home after over a month of uncertainty.

“There were many moments this past few weeks where we didn’t think that he was ever going to be able to come home. We thought our son wasn’t going to make it,” Easton’s father Jace Oliverson told ABC News’ Good Morning America.

Easton, a baseball pitcher and left fielder, had traveled with his Snow Canyon Little League team, which hails from Santa Clara, Utah, to Pennsylvania in August to play in the Little League World Series. On the night of Aug. 15, however, he fell from a bunk bed in one of the league’s dormitories while sleeping and suffered a serious head injury, leading to a fractured skull, broken artery and epidural hematoma, a condition where bleeding occurs between the brain’s dura and the skull.

Little League players, coaches and managers are typically required to stay at the league’s complex. The dormitory where Easton was staying included bunk beds for the players to sleep on, which did not have guard railings. Since the incident, Little League Baseball officials announced they would remove all bunk beds in their dormitories.

“Since 1992, Little League has used institutional-style bunk beds to offer the most space for the players to enjoy their time in the dorms,” the league said in a statement last month. “While these beds do not have guardrails, Little League is unaware of any serious injuries ever occurring during that period of time. Out of an abundance of caution, Little League has made the decision to remove all bunks from within the dorms and have each bed frame individually on the floor.”

A photo of the beds from a parents guide of the facility shows no railings on any of the top bunks.

After the fall, Easton was airlifted to Geisinger Janet Weis Children’s Hospital in Danville, Pennsylvania, according to Little League Baseball, and had to receive surgery and treatment in an intensive care unit.

“I was told after the surgery that he was easily 30 to 45 minutes away from passing away,” Jace Oliverson told GMA in August.

While in the hospital, Easton, whose nickname is “Tank,” made big strides toward recovery. His dad told GMA that “doctors were stunned by his progression in a short amount of time.”

At the end of August, Easton was transferred to another hospital in his home state of Utah where he recovered enough to be discharged.

Now that Easton is out of the hospital, his parents remain by his side as he continues to heal.

“We’re so proud of how far he’s come and how hard he has worked. But he definitely has a lot more work to do,” Nancy Oliverson said.

“He’s home and we’re just so blessed and so grateful that he’s still with us and that he’s able to have a road of recovery with everything that this kid has had to go through since Aug. 15,” Jace Oliverson added.

The Oliversons have since filed a lawsuit against Little League Baseball and Savoy Contract Furniture, the company that made the bunk beds.

The lawsuit, filed on behalf of the family by Duffy + Fulginiti, a Philadelphia-based law firm, claims Little League Baseball “allow[ed] the bed to exist in a dangerous condition” and failed to “inspect the bed,” “have rails on the bed,” and failed to “properly secure the bed,” allowing Easton to fall. It accuses Savoy Contract Furniture of selling “dangerous and defective” furniture that caused Easton “significant and permanent injuries, including internal bleeding among other injuries, some or all of which are permanent in nature.”

The 12-year-old “has suffered in the past and will continue to suffer in the future, aches, pains, trauma, contusions, humiliation, embarrassment, suffering, disfigurement, and/or inconvenience” as a result of the incident, the lawsuit claims.

The suit is seeking “in excess of $50,000” plus “costs, interest, compensatory and punitive damages, and all other damages allowed by law.”

Kevin Fountain, senior director of communications at Little League International, said in a statement to Good Morning America that “it is Little League International’s policy not to comment on pending litigation.”

Savoy Contract Furniture has not issued any public statements on the lawsuit and did not immediately respond to a request for comment on the matter.

Copyright © 2022, ABC Audio. All rights reserved.

Toddler found dead in stolen car hours after deadly shooting, police say

Toddler found dead in stolen car hours after deadly shooting, police say
Toddler found dead in stolen car hours after deadly shooting, police say
avid_creative/Getty Images

(HOUSTON) — A toddler was found dead inside a car that was stolen after the child’s father was shot and killed in Houston on Tuesday, police said.

“We are asking for a lot of things from the public right now,” Houston Police Executive Assistant Chief Larry Satterwhite told reporters during a press conference Tuesday night. “First and foremost, to pray for this family. A mother lost her husband and she lost her 2-year-old child today. We are also asking the public’s help in identifying the suspect. He is still at large.”

The Houston Police Department received a 911 call about a shooting in the area of El Camino Rey Del Rey Street and Chimney Rock Road at around 1:46 p.m. local time on Tuesday. Upon arrival, officers found a 38-year-old man who had been shot to death, according to Satterwhite.

Investigators believe the victim was meeting with another man at the location when possibly an argument ensued. The other man took out a gun and shot the victim multiple times before stealing his black SUV and fleeing the scene, Satterwhite said.

That evening, at approximately 6:36 p.m. local time, a woman called 911 to report her husband and 2-year-old son missing. The information she provided was specific enough that police soon realized the shooting victim was her husband, according to Satterwhite.

“We never knew about the child until she called,” he told reporters.

The stolen SUV with the little boy inside was found on Elm Street, more than 10 miles away from the shooting scene. Officers shattered the windows of the locked vehicle to get to the child, then immediately tried to render aid and called for an ambulance, according to Satterwhite.

“Sadly, it was too late. The chid had passed in the car,” he said. “At this time, we don’t know why or how or what the cause of death will be. It could be something like heat exhaustion, we just don’t know. That will be determined later through autopsy.”

Investigators believe the suspect had left the car there, locked up and turned off, with the child in the backseat, according to Satterwhite.

“It’s the hardest thing we do,” he told reporters. “Children are innocent.”

The unidentified suspect, who remains on the loose, is described as a Black man wearing a white t-shirt, black shorts and a black Oakland Raiders cap.

When asked if he had a message for the suspect, Satterwhite said: “Turn yourself in. Turn yourself in now.”

Copyright © 2022, ABC Audio. All rights reserved.

Biden to push for even broader support for Ukraine at UN General Assembly

Biden to push for even broader support for Ukraine at UN General Assembly
Biden to push for even broader support for Ukraine at UN General Assembly
Bruce Yuanyue Bi/Getty Images

(WASHINGTON) — When he steps up to podium to deliver an address on Wednesday at the United Nation General Assembly, President Joe Biden is expected to cast the defining conflict facing global leaders as a duel between democracy and autocracy, and one with implications for every nation across the world.

The speech will be Biden’s first at the forum since Russia’s invasion of Ukraine, offering him the opportunity to condemn the Kremlin in front of an audience of fellow heads of state.

“He’ll offer a firm rebuke of Russia’s unjust war in Ukraine and make a call to the world to continue to stand against the naked aggression that we’ve seen these past several months,” National Security Advisor Jake Sullivan said.

“Countries cannot conquer their neighbors by force, cannot seize an acquired territory by force,” he said. “He will speak to every country in the world — those that have joined our broad-based coalition to support Ukraine and those who so far have stood on the sidelines that now is a moment to stand behind the foundational principles of the [UN] charter.”

Thanks to the so-far unshakeable coalition of NATO allies standing behind Kyiv, Sullivan said the president was heading into summit with “the wind at his back,” and would demonstrate the administration’s commitment to offsetting the collateral impacts of the war by pledging more than $100 million to food-security efforts.

As Biden grapples with a series of complicated global issues, the high-stakes summit presents a range of challenges for the administration.

The no shows

Although U.N. General Assembly meetings offer an abundance of opportunity for face-to-face diplomacy — something the president prides himself on — two key players won’t be in attendance: the leaders of Russia and China.

“Our competitors are facing increasingly strong headwinds, and neither President Xi nor President Putin are even showing up for this global gathering,” said Sullivan.

In Russian President Vladimir Putin’s case, the most pressing of those headwinds are losses on the battlefield in Ukraine, according to administration officials.

Ahead of an engagement with his counterpart from the U.K., Secretary of State Antony Blinken denounced reports that Moscow plans to hold sham referenda in occupied territories in Ukraine to pave the way to annex the territory and that Putin may move to surge additional troops to help the war effort.

“I think this is also not a surprise this is happening now. We have seen in the last weeks significant gains by Ukraine,” Blinken said. “It’s a sign of weakness. It’s a sign of Russian failure.”

But as a number of other heads of state push for negotiations for peace, the gathering won’t offer a robust opportunity for Biden to pursue that path with the leaders of the countries involved in the conflict. Russian Foreign Minister Sergey Lavrov is in New York, but there are no plans for a meeting with U.S. officials on the books.

Ukrainian President Volodymyr Zelenskyy will also give a speech on Wednesday, but he will do so remotely as the only leader allowed to appear virtually this year.

China’s Xi Jinping’s absence means there’s no chance of an in-person meeting with the president, something that hasn’t happened since Biden took office. And the two have an ever-growing list of differences to discuss.

The past months have seen multiple escalations, with China responding to any step perceived as the U.S. moving towards recognizing Taiwan as a sovereign state with shows of force, a strategy a senior State Department official described as an attempt to normalize military pressure.

While the administration says Washington’s long-standing One China policy remains in effect, Biden also said U.S. troops would defend Taiwan if it were attacked.

The impermanent 5?

Russia’s exalted position as one of five permanent members of the U.N. Security Council has thrown a significant wrench in the body’s efforts to check its aggression, prompting calls that it should be removed all together.

Biden won’t go quite that far, Sullivan said.

“It is not something that he is going to raise tomorrow, although I think the world can see that when a permanent member acts in this way it strikes at the heart of the U.N. Security Council and so that should lead everyone collectively to put pressure on Moscow to change course,” he said.

But U.S. officials appear to be aligning behind a plan. Instead of subtracting Russia from the permanent members of the council, they may seek to make additions.

A senior State Department official said that Biden would attempt to “reenergize” the push for reform by arguing the arm needs to be “more representative of the world’s population, and filled with countries that are ready to work together.”

The odds of expanding the council appear slim. Reforming its makeup would require amending the U.N. charter, a step that Russia or any other permanent member could veto.

The rest of the agenda

While the war in Ukraine is shaping up to dominate the General Assembly, administration officials have stressed they want to take on other global issues as well.

One pressing matter facing the White House is its push to return to an Obama-era nuclear deal with Iran. Indirect negotiations appear to have stalled again, and officials from both countries appear increasingly pessimistic that the pact can be renewed.

Sullivan said Biden plans to reiterate that the U.S. is open to returning to an agreement, but that he isn’t anticipating any major breakthroughs.

Even a meeting with one of the U.S.’s closest allies has its thorns. Biden will hold his first meeting with the U.K.’s new prime minister, Liz Truss, as the differences between the two’s economic policies become ever apparent.

Recently, Truss said completing a long-awaited trade deal with the U.S. was not a key priority and unlikely to happen anytime soon. But Sullivan said it would be on the president’s list.

“I do think that they will talk about the economic relationship between the U.S. and the U.K.,” Sullivan said, adding they would also hit other areas where Truss and Biden have more in common, such as support for Ukraine and addressing Europe’s energy crisis.

Copyright © 2022, ABC Audio. All rights reserved.

Blake Shelton has a special gift for contestants on his team on ‘The Voice’

Blake Shelton has a special gift for contestants on his team on ‘The Voice’
Blake Shelton has a special gift for contestants on his team on ‘The Voice’
Tyler Golden/NBC

Blake Shelton has a special gift for members of his team on The Voice this season. 

The country superstar took to Twitter to reveal that over the years, it’s become “tradition” for the judges to give a gift to the contestants who pick them as their coach. For season 22, the lucky people who wind up on Blake’s team will be rewarded with a camo print ice chest, complete with The Voice logo and an emblem reading “Team Blake.”

It also features insulated and water proof lining inside. “Perfect for beer and popsicles,” the hitmaker says while modeling the bag. 

The ice chest was created by Land’s End, who Blake has also partnered with on a new apparel line.  

Copyright © 2022, ABC Audio. All rights reserved.

Deep sea mining, solution to tech world’s mineral demand or potential ecological disaster?

Deep sea mining, solution to tech world’s mineral demand or potential ecological disaster?
Deep sea mining, solution to tech world’s mineral demand or potential ecological disaster?
ABC News

(NEW YORK) — It’s the size of the continental U.S., more than 10,000 feet deep and its recently become the center point in the debate over what’s the best way to build green products without making the environment worse off.

There is still much that is unknown about the Clarion-Clipperton Zone off Mexico’s Pacific coast, but scientists have said that the Pacific abyss is rich in minerals that are critical for renewable batteries and other green technologies.

Even though international regulators are still hammering out the rules and regulations for conducting deep sea mining, one mining executive contended to ABC News that they can extract the critical minerals from the depths of the abyss without harming the seabed.

“I mean, why on Earth shouldn’t we explore new frontiers? We need to mix it up,” Gerard Barron, the CEO of The Metals Company, a Canadian-based firm that is one of 16 companies exploring ways to mine the CCZ, told ABC News.

“The question is, what’s this impact? How can we mitigate those impacts? And how does that compare to the known impacts of land-based activity? And I think that’s a decision that society is going to have to face,” he added.

Oceanography experts, however, warn that we still know little about the ecology this deep under the sea. Even though potential mining could benefit necessary green projects, it could have unforeseen negative effects down the road.

“The worst case scenario for the environment would be driving species extinct before we even know they exist,” Matt Gianni, the co-founder, and the political and policy advisor of the Deep Sea Conservation Coalition, told ABC News.

The zone is between 12,000 and 18,000 feet deep and is still not fully explored, but scientists have found polymetallic nodules that are millions of years old on the ocean floor and contain nickel, cobalt, copper and manganese. These are key minerals used in rechargeable batteries for electric vehicles, storage units and other major devices.

The U.S. government has deemed cobalt as an essential mineral because of its importance in electric vehicles and many western countries are pushing for a supply chain that relies less on minerals produced by countries like China and Russia.

Barron said that the move to more electric vehicles and non-fossil fuel energy means that the country needs to act immediately to meet the growing demand.

“People haven’t given a lot of thought to where these metals come from and what we’ve woken up to is the fact that getting new mines permanent is really challenging because of the environmental impacts,” he said.

“So, if you want to build an ecosystem that can make American batteries with secure supplies of battery raw materials, then it’s not so easy [to] just imagine up a new mine because all the good ones have been discovered and getting anything permanent is really hard,” he said.

Currently, there is no active mining project within the CCZ, as the International Seabed Authority, an intergovernmental body that oversees “mineral-resources-related activity” in seaboards has not yet signed off on deep sea mining in the zone.

In the meantime, the ISA, which doesn’t yet formally include the U.S., awarded 17 exploration contracts to state sponsors and contractors which are meant to assess mining opportunities in the CCZ seabed.

The Metals Company has three licenses and has already conducted research using sophisticated unmanned underwater tools, such as an automated underwater vehicle.

“They’re actually like rockets that fly on the ocean floor and take really detailed imagery and measurements of everything,” Barron explained.

The company also received approval from the ISA to collect 3,600 tons of nodules while an independent team of scientists studies the potential impact it would have on the surrounding systems.

Barron said his teams have identified 1.6 billion tons of polymetallic nodules in two of its three license areas in the CCZ, which is enough to produce materials for 280 million mid-sized heavy batteries.

He estimated that it would take 30 years to mine the material in CCZ. He said based on his team’s analysis there would be a minor impact on the ecosystem, because they’ve found very little life down there.

“It’s a very low-energy area,” Barron claimed.

Environmental experts, however, argue that the companies looking to mine the seabed are premature in their ecological assessments and they need to reconsider their goals.

Craig Smith, a professor of oceanography at the University of Hawaii, told ABC News that no one will really know what the mining impacts on the CCZ will be until at least one mine has been operating for a decade.

“Because the ecosystems will take millions of years to recover, no site that’s mined will recover before the last site that’s mined,” he told ABC News. “These nodule habitats will not recover.”

One possible effect would be chronic stressors to the ecosystems in the area, according to Smith who compared the issue to a loud concert.

“Many humans enjoy going to a rock concert for an hour but if they were in that noise environment 24/7, they would go deaf,” he explained.

Gianni refuted claims by mining companies the CCZ is a low-energy area with little life. He said the seabed is home to many underwater fauna and flora and there are many more species that haven’t been discovered.

He said there is concern that the mining operations would push sediment into the water and affect the food chain from the smallest fish right up to whales.

“Scientists are saying [the CCZ is] teeming with life…We’re still discovering them,” Gianni said.

He added that because of how the gradual flow of the deep sea’s ecosystem, many of those changes won’t be noticed until many decades later.

“We hope that we should learn by now from our past mistakes,” Gianni said. “There’s a lot of value to keeping it natural, exploring it, understanding what the deep ocean is…rather than just going in blind, extracting metals until we can’t get any more build cars. And then, oops, in 30, 50, [or] 100 years, future generations will say that was a big mistake.”

The concerns about deep sea mining have already prompted companies such as Google and Microsoft to make pledges that they would not use minerals from those kinds of operations.

Gianni’s group is one of many environmental organizations that have called for a moratorium on deep-sea mining, contending that the environmental risks outweigh the ecological rewards.

Barron defended his company’s plans from the criticism and contended that their latest processes will not have long-term negative impacts on the seabed.

In addition, he said his company is taking a hard look at how their presence will affect the CCZ and are willing to amend its plan.

“We’ve always said if the scientific evidence points to the fact that we shouldn’t be doing this, then we stop. That’s part of exploration,” Barron said.

Gianni contended that mining companies are rushing the process because of the increase in demand for rechargeable batteries but said that recycling older minerals will play a key role in reducing the amount of mining in the future.

He argued that more patience would go a long way to solving both environmental issues.

“We need the foresight to say let’s prevent this problem from happening before it starts taking place,” Gianni said.

Copyright © 2022, ABC Audio. All rights reserved.

Jax surprises little girl who sang her song, says fan reactions to “Victoria’s Secret” are “the actual dream”

Jax surprises little girl who sang her song, says fan reactions to “Victoria’s Secret” are “the actual dream”
Jax surprises little girl who sang her song, says fan reactions to “Victoria’s Secret” are “the actual dream”
Nathan Congleton/NBC via Getty Images

Last month, Jax posted an adorable video of a little Scottish girl named Rosie Mae singing her song “Victoria’s Secret” at summer camp. Now, she’s posted a TikTok detailing how she surprised Rosie Mae and her mom by calling them up, flying them and one of Rosie Mae’s friends to LA and making a video with them. Jax said Rosie Mae’s and others’ reactions to “Victoria’s Secret” have made her completely “shift her priorities.”

The singer said “the obvious feats as a songwriter” — like where the song is on the charts or having a certain number of followers — have been “really hard for me to process because it was so quick.” That’s why, she told ABC Audio, “The only thing that’s really, really made me like super-emotional about this process is getting to see videos like that.”

She noted, “Knowing that I helped a girl that is like way younger than me…I wish I would have had that when I was that age, and there were couple of like pop stars I looked up to and stuff like that. So, like, that’s the actual dream. My priorities actually completely shifted after this song.”

Jax explained that she’s now stopped “stressing out about the numbers” and added, “Honest, it’s singular interactions, like at the airport and in the bathroom at a restaurant…those reactions are what’s keeping me super-inspired.”

“My heart is just beyond, beyond, beyond full right now,” she added. “So it’s really, really cool.”

Copyright © 2022, ABC Audio. All rights reserved.

Taylor Swift announces new series ’Midnights Mayhem With Me’, reveals track name

Taylor Swift announces new series ’Midnights Mayhem With Me’, reveals track name
Taylor Swift announces new series ’Midnights Mayhem With Me’, reveals track name
Beth Garrabrant/TAS Rights Management

Taylor Swift is getting creative with her upcoming tenth studio album Midnights

In a TikTok shared at midnight Wednesday, the “evermore” singer announced a new series where she’ll reveal the track list for her hotly anticipated album one by one. 

“It’s me. Hi,” she began in the video. “I know that I have a habit of dropping cryptic clues and Easter egg when giving you information about new music and I’m not here to deny that, but I am here to defy that. Welcome to a new series I’m calling Midnights Mayhem With Me.

Pointing to a Bingo cage beside her, the pop star explained, that there are 13 balls inside of the cage each marked with a number representing the 13 tracks on her upcoming project.

“I am going to be using this technologically advanced device to help me allow fate to decide exactly what track titles I’m going to be announcing and in what order,” she said. “So let’s leave it up to fate.”

Taylor then gave the hopper a whirl until the ball with the number 13 rolled out and, as promised, revealed that the title of that track is “Mastermind.”

There was no mention of when fans can expect the remaining episodes.

Midnights is set to be released October 21. 

Copyright © 2022, ABC Audio. All rights reserved.

Catch Weezer on ‘Jimmy Kimmel Live!’ ahead of ’SZNZ: Autumn’ drop

Catch Weezer on ‘Jimmy Kimmel Live!’ ahead of ’SZNZ: Autumn’ drop
Catch Weezer on ‘Jimmy Kimmel Live!’ ahead of ’SZNZ: Autumn’ drop
ABC/Eric McCandless

The season is once again changing, which means that Weezer is about to drop a new EP.

Rivers Cuomo and company will drop the latest installment of their SZNZ project, SZNZ: Autumn, this Thursday, September 22, which is the first day of fall.

A new Weezer SZNZ EP also means another performance on ABC’s Jimmy Kimmel Live! as part of the band’s “seasonal residency” with the show. You can tune in to watch Wednesday night at 11:35 p.m. ET.

Weezer first launched SZNZ earlier this year with the Spring EP in March, followed by Summer in June. The fourth and final installment, Winter, is due out in December.

In addition to the Kimmel residency, Weezer had also booked a SZNZ-themed Broadway residency for September, but it was canceled due to what Cuomo called “low ticket sales and unbelievably high expenses.”

Here’s the SZNZ: Autumn track list:

“Can’t Dance, Don’t Ask Me”
“Get Off on the Pain”
“What Happens After You”
“Francesca”
“Should She Stay or Should She Go”
“Tastes Like Pain”
“Run, Raven, Run”

 

Copyright © 2022, ABC Audio. All rights reserved.