real, there was smoke and fires were still burning in the trees out here. and the firemen were with us and i think they were with us because they, uh, maybe, you know, it would be traumatic to go and see. but we, he, they said right away, your house is safe. this time they were lucky, but there will certainly be wild fires here again. and experts say global warming may make them more severe. all right, you are up to date, don't forget, you can stay up to date on our website to. that's d, w dot com. and of course you can follow us on our social media accounts on pablo foliage in berlin from the team here take care, see, get off the top of the next. ah, a lot of contrasts. of ambitions of inequality. 75 years ago, mahatma gandhi peacefully led the country to independence,

full of ideals. what has remained of his vision? what's the status of human rights and social justice in what's called the world market democracy? we receive your headed, this is the pulpit tour unleash on long violet boss. and re imagine that these teachings for relevance to gandhi's legacy store to august 6th on dw. ah, oil companies pump out unprecedented profit exxon belleville and chevron shatter earnings records at a time of soaring fuel costs for consumers and chits to compete with china.

us lawmakers boat to spend billions to boost the countries domestic semiconductor industry. this is the w business. i'm janelle dumas on welcome. we begin today with a record breaking profits from oil companies, exxonmobil and chevron. exxonmobil made $17900000000.00. all chevron posted $11600000000.00 in profit in the 2nd quarter. these math of earnings are coming at a time where consumers are facing spiraling fuel costs, which in turn are driving up the prices of everything else. the u. s. oil giant earnings have followed on the heels of european petroleum majors like shell to tell energies and any posting their own. i watering numbers. teddy austro is standing by for us at the new york stock exchange study. as we said, those profits are coming out of time of rising fuel costs for consumers that reset it a few times already on the show. any chance that those oil giants will use those profits

to help mitigate the energy crisis? yeah, well you can't stress enough. how strong these profits are by then actually said last month that these oil companies are making more profits than god. now are they investing these profits back into the industry to give more supply to try to use the energy crisis. bring some of these high costs that have been eating at the consumers down. well, it doesn't really seem like an investment is certainly not keeping up with the resurgence in demand. there appears to be a cultural shift going on over the past decade. there was a focus more on drill, drill, drill, increase the volume. now shareholders have demanded, well, better profit margins, and that's certainly what they're getting with commodity prices so high due to the supply chain disruptions of the panoramic as well as the war and ukraine. and these companies are focusing on stock share buybacks rather than investing. now also there is the question of demand in the future for the energy transition. and these

companies don't want to spend on expensive and costly projects that may not be used as demand falls in decades to come. now we're going to have to ask joe biden, how much, how he knows how much money god actually makes. but demand, as you say, is a softening again, or it's going to soften again. what does that going to mean for oil companies? well, we've already seen demand softening a little bit. gasoline prices are incredibly high, the consumer is spending less on that gas, but it doesn't seem oil companies are that scared that their profits are going to come down to heavily. this is because russia well with the whole in russian supply of oil and gas, there really is a floor to how the commodity prices can come down, especially as opec plus struggles to up the supply to fill that gap in energy

supply. also, the federal reserve and its interest rate hikes well, economists and analysts expect that there might, it might induce a mild recession. while analysts believe that while a heavy recession is what is required to really eat into these extraordinary profits. for the oil companies that we've seen this year. teddy austro there, thank you for all your reporting this week. we're the world and the grid of a global micro chip shortage companies throughout the us are clamoring for semi conductors. washington has decided to green light, billions in aid for us, chip producers, but the aim of competing with foreign rivals like china. it's been a long time coming. the united states congress has finally passed the chips in science, which is designed to boost the us semiconductor industry. and that opened a new campaign in the chip war against china. the yeas are

243. the names are 1871 member voting present. the motion is adopted. aiming to make the united states competitive with chinese manufacturers, the legislation will provide $52000000000.00 in subsidies for you as to manufacturers and more than $100000000.00 in science and technology investments from cars to cellphones, health care equipment, even to video games to day chips are the most critical production components. taiwan and open target for china has been the trip production of for the u. s. for many years. now, this is about the change as us is opening a new front into trade war against china. and china is aware of that sir is imposing restrictions and seeking the coupling will only hurt others. and one sofa light caught in the mean time, china stresses reliance on our own efforts to drive donations development. no

restriction or suppression will hold back. china cited to one oakmont and industrial progress hoover, president joe biden is expected to sign the bill into low soon. this will directly affect the course of global technological production for decades to come. russia's war on ukraine is being partially blamed for a rise in the cost of food and fuel of economy in europe is proving surprisingly resilient despite rising prices. official data shows the eurozone economy grew more than expected. in the 2nd quarter, i point 7 percent compared to the 1st quarter tours and boosted france and spain. but germany continued to be the worst affected by high inflation and fears of a gas crisis. triggered by your russian restrictions, europe's largest economy stagnated. in the 2nd quarter bringing it to the edge of a recession. so a lot of doom and gloom there. earlier we spoke to thomas old from the german

economic institute to ask how he assessed the risk of recession for the euros on i think the numbers look quite good. i'm not positive, can be expected. indeed, new point 7 percent growth compared to the current price within the 1st quarter here. and if you live in the shadow of those number, you're going, which is comprised by a economy. and however, quite now, which would be a cut off from crushing dad. but even a germany buckles under a gas crisis, german economy minister, robert havoc said again today that putting nordstrom to into operation is not an option. that's the pipeline that was meant to deliver russian gas to germany via the baltic sea. it was scrapped after russia's attack on ukraine. earlier we spoke to john sweeney and investigative reporter and the author of killer in the kremlin about putting through jean. he told us that eliminating russian fossil fuels is the correct course of action. one of the dog armies of the war so far is that as much

money that the west has given ukraine to help your crime fights against the brutal invasion. we have given farm to russia to pay for its oil and gas. and because because of the will, the prisons felt the price of oil and gas has gone up. so. so yes, sanctions, but actually the reality is you're in particular germany in particular, has kept on buying russian all and gas. and obviously, this is an addiction which is hard to get off quickly. but we quickly and here's some other business news. felony has caught if and will net profit forecast. electronics. conglomerate said that slowing growth in the gaming market after the pandemic, the cost of buying game developer bungee were to blame. so when he agreed to pay $3600000000.00 for the american company earlier this year, alphabet,

google's parent company has blocked battle grounds mobile india, one of the most popular mobile gains in the indian market. alphabet cited in order from the indian government for the ban battlegrounds, mobile, india has more than 100000000 active users before the bat, bolivia is home to the world's largest on top reserves of lithium, a key component in electric batteries. though it's several years away from extracting the valuable raw material once it does well, need to import metals like nickel and cobalt to complete the batteries. yet a new car maker in the country is placing its bets on an electric future, hoping to expand the electric vehicle market in latin america. this startup is investing big. in something small, it's producing micro sized electric vehicles. less than what we need add le for a total for electron mobility is the micro electric mobility,

which is quite different though is can we be fed into the car? can fit up to 3 passengers. its top speed is 55 kilometers per hour, but that's not a problem for quantum customers. they're not traveling long distances. and the benefits outweigh any shortcomings. none of them mays, i am as away my electric bill was more or less 10 euros per month. and sometimes i go from here all the way to suck above is others. you know, can i keep a charge and use it at least once a day? yes, he knows a lot of the, it's very low cost compared to a gas powered car. i'm gonna stop by my mom puts in 10 years worth of fuel in her car per week, roughly where as i put in 10 years per month, all that didn't already out of her last my it's cheap to run an easy to charge and the car can be plugged into a typical wall outlet, but it's electric batteries have to be imported. that's something to start up hopes will change. soon. bolivia sits on the world's largest deposit of lithium.

bolivian president is in favor of industrialize in the indian nations lithium resources. though many don't expect of that to happen until at least 2030 an expert still think the start up is headed down the right path. in the meantime, winful to fever when both evil, if this is a very positive undertaking, come and put it in because it establishes a precedent in the country though they get a precedent because it introduces and generates a market for electric cars. little hopefully, these electric cars may be many, but their potential is mighty to saudi arabia now, which says it's drawing a line in the sand, at least when it comes to urban planning. the kingdom has been accused of living in the distant past, but now it wants to show how futuristic it is with the line. it's

a wall that's also a city, 200 meters wide and 500 meters above sea level stretching from the red sea eastward, across the desert and into a mountain range. it's part of a project called neon. it could house up to $9000000.00 residents and run rent entirely on renewable energy. but like many visions of the future, critics are saying it locks the human touch. thanks for watching. have a great weekend. ah. ah, a joy ride through fascinating worlds. into uncharted deb this our guides know their way around with

a strictly scientific trip to some pretty wacky places. curiosity is required to borrow today. next on d, w. a gigantic sheet of paper that you don't late constant for madame buffalo. the biggest festival is famous. traficant state, but imagine having to play. oh, how does that work off the also what do you think you're gonna be dw, ah, when you become a criminal pre climb ai already know who's

with hackers and paralyzed between your societies. computers that are some, are you and governments that go crazy for your data. we explain how these technologies work, how they can go in for that's how they can also go terribly. what you know, why do a professor and his students keep going to a forest to inspect dead pigs? what are the repercussions of our hunger for energy plus researchers, shedding light on a stone age who done it.