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InsideTrack With Erik Schatzker BLOOM (BLOOM)National Programming, DMA: 0 Dec 21 2011 7:40AM EST Programming Type: Special
track." i am
erik
schatzker. as many as five cargo jets could crash in the next decade because of fighters from lydian batteries, according to a government report. the batteries -- crash and the next decade because of fires from lithium batteries. lizzie o'leary? >> it essentially says you need to be careful here. this is an issue where there needs to be more regulation, but congress has not acted on this. at 30,000 feet, this is not what you want. a lithium battery life itself on fire and burning at over 1000 degrees. the faa says this could lead to crashes on cargo planes in the next decade. the batteries have been linked to two crashes in the last five years. >> it is problematic for the structural integrity of the aircraft. >> of this ups plant left dubai with 80,000atteries on board. both pilots were killed. there's no room for cargo planes. the house voted down tougher regulations earlier this year. the senate still has not acted. >> we do feel that one level of safety for passenger aviation and cargo aviation is critical. >> a trade group of companies that makes rechargeable batteries as says it could cost more than $1 billion per year to comply with the tighter rules. the lithium market itself is growing. in 2000, there were 625 million produced. that increased to 4.4 billion last year. it is expected to grow to 8 billion by 20. >> he told me that they areort of squaring off with computer makers and manufacturers. they say that tougher rules cost too much and a dispute some of the data in the faa study. on the cost front, the faa says the cost of the crashes could be $395 million over the next decade. this is just one of the things caught up in the fight over reauthorize the the faa. that has been languishing in congress for some time. >> the story of more gridlock. it does not sound as though the people, perhaps, are being protected. lizzie o'leary on the latest from the faa and the risk posed by a lithium batteries. we have more on the "inside track." what is likely to happen with the u.s. economy? we'll also talk about new rules on banks from the federal reserve. our guest is richard clarida from pimco.
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