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Keyword: opec

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  • Wild GOP debate repeatedly goes off the rails as candidates shred each other on stage

    02/14/2016 2:02:32 AM PST · by Cincinatus' Wife · 97 replies
    Business Insider ^ | February 14, 2016 | Pamela Engel
    "...Some of the last fireworks of the night came when Cruz attacked Trump's supposedly "very, very liberal" policies."Flexibility is a good thing, but you shouldn't be flexible on core principles," Cruz said. "I like Donald. He is an amazing entertainer. But his policies for most of his life..have been very, very liberal."Cruz continued:For most of his life, he has described himself as very pro-choice and as a supporter of partial-birth abortion. Right now today as a candidate, he supports federal taxpayer funding for Planned Parenthood. I disagree with him on that."You are the single biggest liar," Trump shot back. "You...
  • Just a fraction of the world's oil supply isn't profitable at $35 a barrel

    02/12/2016 12:52:48 PM PST · by Zhang Fei · 18 replies
    Business Insider ^ | 2/12/2016 | Bob Bryan
    Wood Mackenzie's report, cited by the energy news service Platts, said about 3.4 million barrels' worth of oil a day was not profitable below $35 a barrel. According to the International Energy Agency, the world's supply is 97.07 million barrels a day. While today's oil prices are below this threshold, the report suggests the price at which US shale and other producers would be forced out of the market is lower than previously thought. As Platts writes, "For many producers, being cash negative is not enough of an incentive to shut down fields as restarting flow can be costly and...
  • Supreme Court Keeps Coal Alive…For Now

    02/11/2016 3:23:42 PM PST · by bananaman22 · 12 replies
    Oilprice.com ^ | 11-02-2016 | BArny
    The coal mining industry is in trouble and the Supreme Court holds the industries fate in its hands. Coal has been suffering for years under the dual attack of environmentalists and low natural gas prices. Environmentalists have been pushing utility companies to stop using coal, while low natural gas prices have led many utilities to switch to that cleaner burning and now cheaper fuel as a power source. In an effort to please environmentalist supporters after his election to a second term, the Obama Administration put in place what might be a death sentence for coal mining east of the...
  • Report on Syria conflict finds 11.5% of population killed or injured

    02/10/2016 4:51:52 PM PST · by MinorityRepublican · 9 replies
    The Guardian ^ | Wednesday 10 February 2016 | Ian Black
    Syria’s national wealth, infrastructure and institutions have been “almost obliterated” by the “catastrophic impact” of nearly five years of conflict, a new report has found. Fatalities caused by war, directly and indirectly, amount to 470,000, according to the Syrian Centre for Policy Research (SCPR) – a far higher total than the figure of 250,000 used by the United Nations until it stopped collecting statistics 18 months ago. In all, 11.5% of the country’s population have been killed or injured since the crisis erupted in March 2011, the report estimates. The number of wounded is put at 1.9 million. Life expectancy...
  • Hidden Report: Mexico Remittances Total More Than Entire Mexican Oil Revenue

    02/10/2016 6:38:18 PM PST · by Helicondelta · 36 replies
    Remittances sent home by Mexicans working outside the country surpassed petroleum revenues in 2015 for the first time. There was a 4.75% increase in money sent from abroad, most of which comes from the U.S., to total US $24.8 billion last year, up from $23.6 billion in 2014, said the Bank of Mexico. An important factor in the increase in remittances is the jobs created by economic recovery in the U.S. Some 11 million Mexicans are believed to be living in the U.S. and many work in construction. Remittances, 97% of which are sent electronically, averaged $292 last year. We...
  • OPEC Will Not Blink First

    02/10/2016 2:56:09 PM PST · by bananaman22 · 11 replies
    Oilprice.com ^ | 10/02/2016 | Oilprice
    An OPEC production cut is unlikely until U.S. production declines by about another million barrels per day (mmbpd). OPEC won’t cut because it would accomplish nothing beyond a short-term increase in price. Carefully placed comments by OPEC and Russian oil ministers about the possibility of production cuts achieve almost the same price increase as an actual cut. Bad News About The Oil Over-Supply from IEA and EIA The International Energy Agency (IEA) and U.S. Energy Information Administration (EIA) shook the markets yesterday with news that the world’s over-supply of oil has gotten worse rather than better in recent months. IEA...
  • OPEC Will Not Blink First

    02/10/2016 10:58:26 AM PST · by bananaman22 · 6 replies
    Oilprice.com ^ | 10-02-2016 | kale poes
    An OPEC production cut is unlikely until U.S. production declines by about another million barrels per day (mmbpd). OPEC won’t cut because it would accomplish nothing beyond a short-term increase in price. Carefully placed comments by OPEC and Russian oil ministers about the possibility of production cuts achieve almost the same price increase as an actual cut.
  • 5 donors you've never heard of who could shape the 2016 race

    01/02/2016 10:41:55 PM PST · by 2ndDivisionVet · 13 replies
    MSN ^ | January 2, 2016 | Jonathan Swan and Harper Neidig, The Hill
    News articles concerning the most influential political donors in America typically list the same names: The Koch brothers, George Soros, Sheldon Adelson and, lately, Tom Steyer. But as we reach the end of 2015, none of these billionaires has spent big in the 2016 contest, at least not at an individual candidate level. In their absence, a number of lesser known donors are shaping up to be major players in 2016. Here are five to watch: 1. The DeVos Family We're cheating by including a whole family in our list, but there is no way of separating out this high-spending...
  • Obama's $319 Billion Oil Tax Plan Raised to $10.25 a Barrel

    02/09/2016 12:27:48 PM PST · by reaganaut1 · 13 replies
    Bloomberg | February 9, 2016 | Jennifer A Dlouhy and Brian Wingfield
    No excerpt from Bloomberg allowed, story here.
  • Hold on Ex-Im nomination keeps cronyism crimped

    02/09/2016 4:29:56 AM PST · by Cincinatus' Wife · 1 replies
    The Hill ^ | February 9, 2015 | Diane Katz
    The president has nominated attorney J. Mark McWatters for the bank board. However, Sen. Richard Shelby (R-Ala.), chairman of the Committee on Banking, Housing and Urban Affairs, has said he's "in no hurry" to hold a hearing or a vote on the nomination. Other pending confirmations take precedence, he said.The last of the 2015 lobbying reports are in, and the top corporate spender turns out to have been the Boeing Company, at $21.9 million. Not coincidentally, the aerospace giant also outranks thousands of other firms in profiting from the subsidies doled out by the Export-Import Bank. Last year, Boeing benefitted...
  • Trump open to campaign finance reform

    01/18/2016 4:29:32 AM PST · by Cincinatus' Wife · 119 replies
    The Hill ^ | January 17, 2016 | Bradford Richardson
    Pointing to the effects of "horrible" super-PACs, Republican presidential front-runner Donald Trump on Sunday said America needs to come up with a solution to keep big money out of politics. "Well, I think you need it, because I think PACs are a horrible thing," Trump said on CNN's "State of the Union" when asked if he would pursue campaign finance reform. The billionaire businessman, who said he is self-financing his campaign, said the wall separating super-PACs and candidates running for public office is illusory. "First of all, everyone's dealing with their PAC. You know, it's supposed to be like this...
  • Are Electric Cars Really Green? (Video)

    02/08/2016 12:30:59 PM PST · by servo1969 · 25 replies
    Prager University ^ | 2-8-2016 | Bjorn Lomborg
    https://www.youtube.com/watch?v=17xh_VRrnMU Do electric cars really help the environment? President Obama thinks so. So does Leonardo DiCaprio. And many others. The argument goes like this: Regular cars run on gasoline, a fossil fuel that pumps CO2 straight out of the tailpipe and into the atmosphere. Electric cars run on electricity. They don't burn any gasoline at all. No gas; no CO2. In fact, electric cars are often advertised as creating "zero emissions." But do they really? Let's take a closer look. First, there's the energy needed to produce the car. More than a third of the lifetime carbon-dioxide emissions from an...
  • Why fuel prices will stay low for the next decade

    02/08/2016 12:22:58 PM PST · by nascarnation · 29 replies
    Autoblog ^ | 2/8/16 | Chris Bruce
    The top exec at an oil trading company thinks the era of crude trading at over $100 a barrel might never return, and the stuff could remain between $40 and $60 for as long as the next 10 years. "You have to believe that there is a possibility that you will not necessarily go back above $100, you know, ever," Ian Taylor, Chief Executive Officer of Vitol Group BV, told Bloomberg. His company is the world's largest independent oil trader. Instead of any significant increase or decrease, the exec believes crude could hit $45 to $50 a barrel in the...
  • U.S. stocks tumble to 22-month low as energy, financials drop

    02/08/2016 7:59:26 AM PST · by John W · 27 replies
    marketwatch.com ^ | February 8, 2016 | Ellie Ismailidou
    U.S. stocks tumbled Monday morning to their lowest level in 22 months as a fresh drop in oil prices amid continuing fears of economic slowdown pushed investors to the perceived safety of government bonds and gold. "Is the market throwing out the baby with the bath water?"said James Meyer, chief investment officer at Tower Bridge Advisors, referring to the "rapid fall in prices for the high flying tech and biotech names that have been leading the market for the past 12 months." "The former leaders of the previous bull cycle are the ones that get taken to the woodshed in...
  • Exclusive: Iran wants euro payment for new and outstanding oil sales - source

    02/07/2016 9:36:26 AM PST · by BenLurkin · 22 replies
    rueters ^ | 02/05/2016 | Nidhi Verma
    Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros and is billing new crude sales in euros, too, looking to reduce its dependence on the U.S. dollar following last month's sanctions relief. A source at state-owned National Iranian Oil Co (NIOC) told Reuters that Iran will charge in euros for its recently signed oil contracts with firms including French oil and gas major Total, Spanish refiner Cepsa and Litasco, the trading arm of Russia's Lukoil. "In our invoices we mention a clause that buyers of our oil...
  • A guide to what Ted Cruz wants to abolish, bar or change

    01/18/2016 8:50:12 AM PST · by Isara · 69 replies
    Washington Post ^ | January 18, 2016 | Katie Zezima
    ...U.S. Embassy in Tel Aviv The U.S. Embassy in Israel is currently in Tel Aviv. Cruz wants to move it to Jerusalem, Israel's "once and eternal" capital.Commerce DepartmentIn a piece for the National Review, Cruz said shuttering the department would "close the congressional cookie jar" and promote free trade.Education DepartmentAnother standard line from Cruz: "U.S. Department of Education, which should be abolished." Cruz is a states' rights guy -- he wrote his college thesis on the 10th Amendment -- and wants to give control of schools to states or localities....Energy DepartmentCruz has said the country needs an "energy renaissance." .......
  • Ted Cruz's Stunning Victory Over Iowa's Ethanol Cartel

    02/05/2016 1:30:16 PM PST · by BeadCounter · 13 replies
    Reason ^ | Feb. 5, 2016 | Shikha Dalmia
    If Donald Trump is the Tony Soprano of American politics, Ted Cruz is a less-affable version of Mr. Haney from Green Acres (Ok - not quite, but sort of! Do feel free to say, H&R readers, which movie character is a better fit with Cruz). But the only thing cleverer than Cruz's impression of Inigo Montoya in Princess Bride (and not the least because it irritates Billy Crystal and the insufferably self-righteous Mandy Patinkin so much) is the campaign strategy he devised in Iowa to defeat the ethanol cartel and win the primary, I note in my column at The...
  • Why U.S. Shale Is Not Capitulating Yet

    02/04/2016 3:39:20 PM PST · by bananaman22 · 16 replies
    Oilprice.com ^ | 04-02-2016 | zero
    According to a report by the Bloomberg Intelligence analysts William Foiles and Andrew Cosgrove, Saudi Arabia may have its work cut out for it as it will be far harder to kill many U.S. E&Ps than analysts originally thought. The reason: a break-even model for the Permian Basin and Eagle Ford shows that oil production across five plays in Texas and New Mexico may remain profitable even when WTI prices fall below $30 a barrel, according to a 55-variable Bloomberg Intelligence model for horizontal oil wells. The Eagle Ford's DeWitt County has the lowest break-even, at $22.52, followed by Reeves...
  • When Obama carried out his Solyndra scam, he broke the same law that Martha Stewart went to prison

    02/03/2016 8:22:06 AM PST · by grundle · 18 replies
    wordpress ^ | September 8, 2012 | Dan from Squirrel Hill
    When Obama carried out his Solyndra con game, he broke the same law that Martha Stewart went to prison forbreaking In 2009 the Obama administration gave $535 million to Solyndra, claiming that it would create 4,000 new jobs. However, instead of creating those 4,000 new jobs, the company went bankrupt. It was later revealed that the company’s shareholders and executives had made substantial donations to Obama’s campaign, that the company had spent a large sum of money on lobbying, and that Solyndra executives had had many meetings with White House officials. It was also revealed that the Obama administration had...
  • Obama to propose $10 per barrel fee on oil

    02/04/2016 12:41:35 PM PST · by GreaterSwiss · 181 replies
    CNBC ^ | 2/4/2016 | Jacob Pramuk
    President Barack Obama will propose a $10 per barrel charge on oil to fund clean transportation projects as part of his final budget request next week, the White House said Thursday. The proposal would have difficulty clearing the Republican-controlled Congress. Oil companies would pay the fee, which would be gradually introduced over five years. The government would use the proceeds to fund high-speed railways, autonomous cars and other travel systems. "By placing a fee on oil, the President's plan creates a clear incentive for private sector innovation to reduce our reliance on oil and at the same time invests in...
  • Oil bears closing of $600 million triple-short fund bet seen adding to tumult

    02/04/2016 11:48:08 AM PST · by Lorianne · 5 replies
    Reuters ^ | 04 February 2016 | Anna Driver
    This week's roller-coaster ride in the global crude oil market was likely fueled in part by the sudden liquidation of a $600 million leveraged fund bet on falling prices, market sources said on Wednesday. Unknown investors in the VelocityShares 3x Inverse Crude Oil Exchange Traded Note (ETN) - which offers the ability to make a bearish bet on prices magnified threefold, with gut-churning ups and downs - bailed out early this week after jumping into the fund in January, ETN data show. Some 1.8 million shares worth more than $602 million were redeemed on Tuesday, the largest outflow from the...
  • Closing In: Russia, Iran, Assad "Encircle" Syria's Largest City As Peace Talks Collapse In Geneva

    02/04/2016 10:06:01 AM PST · by Nachum · 9 replies
    zero hedge ^ | 2/4/16 | tyler durden
    Back in October, we previewed the “promised” battle for Aleppo, Syria’s largest city prior to the war. By the time Russia began constructing an air base at Latakia, the city - which is immensely important both from a strategic and psychological perspective - was controlled by a hodgepodge of rebels and militants including al-Qaeda, the Free Syrian Army, and ISIS. As we noted four months ago, if Russia and Hezbollah manage to recapture the city, it would effectively restore the Assad government in Syria even if the east of the country is still controlled by Islamic State. In many ways,...
  • Cadillac Is Killing Its Pricey ELR Plug-In Hybrid

    02/04/2016 1:36:32 AM PST · by Berlin_Freeper · 22 replies
    fortune.com ^ | February 3, 2016 | Tom Huddleston, Jr.
    Customers called it “the $75,999 Volt.” Cadillac has reportedly opted to cancel any plans to continue producing its ELR plug-in hybrid coupe after watching the luxury hybrid’s sales fall last year. According to Automotive News, Cadillac president Johan de Nysschen confirmed last week that the General Motors GM -2.46% division does not plan a follow-up to the first generation of ELRs that launched at the end of 2013. The trade publication noted that ELR sales dropped 22% last year to only 1,024 vehicles, as dealers complained about the car’s high price tag of nearly $76,000 (with shipping).
  • Cattle Deaths Spark Renewed Oil Drilling Controversy

    02/04/2016 8:06:56 AM PST · by bananaman22 · 19 replies
    Oilprice.com ^ | 04-02-2016 | Juli
    Following the mysterious death of seven cattle near an oil field in Kansas, public health authorities are investigating whether oil drilling could be the cause. In late December, seven dead cattle were found near an oil field in the Cimarron National Grassland, Kansas, and authorities believe that cows inhaled something toxic, prompting them to deny public access to the 2,500-acre Cimarron National Grassland until at least May. Six of the cattle were discovered together in a low-lying area, while a seventh was found a short distance away, with local veterinarians identifying the ingestion or inhalation of something toxic leading to...
  • <b> Same old, same old with Iran"hostages"</b>

    02/04/2016 12:40:29 AM PST · by Keyvan Salami · 1 replies
    keyvan Salami
    The so-called "Implementation Day" in the nuclear agreement sealed between the international community and Iran had a number of side-effects, with the release of four Iranian-Americans signaling the most important. These four innocent people were swapped for 7 Iranian regime elements held in detention in America. While this made a lot of noise in the United States and raised major criticism against the Obama administration, it is actually nothing new to those familiar with Iran's "hostage industry". The names of these four prisoners released on Saturday are Christian convert Pastor Saeed Abedini, former U.S. marine interpreter Amir Hekmati, Washington...
  • Dow jumps 150 as oil surges 8 pct

    02/03/2016 11:48:47 AM PST · by Citizen Zed · 10 replies
    cnbc ^ | 2-3-2016 | Fred Imbert
    U.S. stocks attempted a massive comeback on Wednesday as oil prices recovered. West Texas Intermediate gained about 8 percent higher in choppy trade after the Energy Information Administration said U.S. inventories rose by 7.8 million barrels last week. Crude prices briefly erased gains following the data release, but surged on a weaker dollar. The dollar traded 1.77 percent lower against a basket of currencies, with the euro gaining 1.5 percent against the greenback, as weak U.S. services data suggested another Federal Reserve rate hike seems more unlikely. "I ... believe oil will dictate stock prices," said Peter Cardillo, chief market...
  • Fundamentals For Oil Still Bearish, But Sentiment Is Shifting

    02/03/2016 1:11:36 PM PST · by bananaman22 · 4 replies
    Oilprice.com ^ | 03-02-2016 | esmionoestuyo
    Oil speculators spent the latter half of 2015 with an incredibly pessimistic view of the trajectory for oil prices. Speculators piled into short positions, pushing net-shorts to multiyear highs. But speculators are at a bit of a crossroads at this point. With oil down to $30 and below, a growing number of hedge funds and other major investors are starting to wonder whether or not the selloff has gone too far. To be sure, oil markets are still suffering from too much supply, but with so much production around the world unprofitable at today’s prices, a rally will have to...
  • Dow logs nearly 300-point loss as oil sinks below $30

    02/02/2016 2:24:13 PM PST · by John W · 21 replies
    marketwatch.com ^ | Februry 2, 2016 | Ellie Ismaildou
    Wall Street stocks ended sharply lower Tuesday as investors unloaded energy and financial stocks amid a selloff in crude-oil futures, which settled below $30 a barrel. The downdraft in energy shares and banks offset strong gains in Google parent Alphabet Inc.-which officially surpassed Apple Inc. to become the most valuable company in the world-toy maker Mattel, and fashion retailer Michael Kors. A fresh 5.5% slump in oil prices following a 6% slide Monday, weighed on energy companies' stocks. The energy sector had the worst performance of the S&P 500's 10 sectors, down 3.3%, followed by financials, declining 2.6%.
  • China announcing 400,000 steelworker job cuts

    02/02/2016 12:42:44 PM PST · by Lorianne · 42 replies
    World Socialist Website ^ | 01 February 2016 | Samuel Davidson
    Three million [more] workers in the steel, coal, cement, aluminum and glass industries are expected to lose their jobs in the next few years as these industries seek to cut production by 30 percent.
  • Ted Cruz: How U.S. must push back Putin in Syria (Cruz-Op Ed- CNN)

    10/09/2015 9:49:11 AM PDT · by VinL · 104 replies
    CNN ^ | 10/9/15 | Sen. Ted Cruz
    Over the last week, the world has once again looked on aghast as President Vladimir Putin has taken violent advantage of regional instability to re-establish Russia's influence, this time in the Middle East. Despite promises to join the United States in a counterterrorism effort against ISIS in Iraq and Syria, Putin is on a mission to protect Russian assets in the Mediterranean by propping up his client, Syrian President Bashar al-Assad. Ted Cruz Ted Cruz Meanwhile, the Obama administration has been caught flat-footed as Putin's actions threaten to inflame and destabilize an already acute crisis. Enough already. We don't need...
  • CRUZ: We Have No Business Getting in the Middle of the Syrian Civil War; Goal Should be to Defeat...

    10/08/2015 3:02:26 PM PDT · by Isara · 32 replies
    TedCruz.org ^ | 10/08/15
    ICYMI: CRUZ: We Have No Business Getting in the Middle of the Syrian Civil War; Goal Should be to Defeat ISIS Speaks with WRKO’s Jeff KuhnerHOUSTON, Texas – Today U.S. Sen. Ted Cruz, R-Texas, spoke with The Kuhner Report regarding the Obama administration’s disastrous foreign policy, the 2016 presidential race and the President’s decision to politicize the tragedy in Oregon.Below is an excerpt. Listen to the full interview here:Ted Cruz on the Kuhner Report (Audio)“I think it would be a mistake to get involved in the Syrian civil war. There have been voices in Washington eager for us to send...
  • Russian air strikes are targeting CIVILIAN oil tankers and allowing ISIS (truncated)

    02/02/2016 7:47:35 AM PST · by BeadCounter · 17 replies
    London Daily Mail ^ | 2 February 2016 | By Gianluca Mezzofiore For Mailonline
    Russian warplanes in Syria are targeting civilian oil refineries and trucks while deliberately ignoring ISIS facilities to allow the extremist group to continue its oil trade with the Assad regime, local activists claim. Citizen journalists from the Raqqa Is Being Slaughtered Silently group claimed Russia's airstrikes are aimed at destroying local oil facilities which are mostly owned by the local population 'and have no direct links with ISIS'. Oil trucks that move between the ISIS-held cities of Deir Ezzor and Raqqa, owned by civilians, are also targeted by Russian jets.
  • Oil-Price Poker: Why the Saudis Won’t Fold ‘Em

    02/02/2016 9:08:36 AM PST · by DUMBGRUNT · 8 replies
    Wall Street Journal ^ | 31 jan 2016 | SPENCER JAKAB
    Don’t underestimate the impact of Middle East politics... The game being played in the global oil market today bears more than a passing resemblance to poker. Nobody wants to quit while they’re losing... Russia, meanwhile, is pumping the most crude ever, hitting a post-Soviet Union peak. But it may have difficulty maintaining today’s pace given a lack of investment in its aging Siberian fields... In other words, Russia is holding weak cards and the Saudis know it... The newest players at the table are U.S. shale producers. They helped the U.S. to increase output by 80% between 2008 and 2014...
  • Cruz Draws First Blood

    02/02/2016 6:24:54 AM PST · by Biggirl · 47 replies
    Breitbart.com ^ | February 2, 2016 | Ben Shapiro
    On Monday, Senator Sen. Ted Cruz (R-TX) performed the singular feat of simultaneously proving that a Republican can win Iowa without backing the ethanol boondoggle, and toppled The God Who Does Not Bleed, Donald Trump. Meanwhile, Senator Sen. Marco Rubio (R-FL) finished stronger than expected, beating poll estimates by six percentage points; Trump finished more than four percent below expectations, while Cruz finished nearly four percent above expectations.
  • Ted Cruz Has a Thoughtful Conversation With An Iowa Ethanol Farmer

    02/01/2016 12:34:41 PM PST · by don-o · 74 replies
    Breitbart ^ | 2/1/16 | John Hayward
    Fans of Sen. Ted Cruz (R-TX) 97% are buzzing about his encounter with an angry farmer worried that the Senator's stance against ethanol would ruin his livelihood. It might be a bit of a stretch to say that Cruz completely won the man over, or converted him into a supporter - much is made of the gentleman's wish that Cruz find the votes he needs among Iowa farmers, but that might have just been polite best wishes, or even a dash of cynical humor. Still, Cruz acquitted himself well during the encounter, spending some five minutes in patient, thoughtful conversation...
  • Poll: 63% of Israelis Rank President Obama ‘Worst for Israel in The Last 30 Years’

    02/01/2016 12:29:17 PM PST · by Olog-hai · 29 replies
    Cybercast News Service ^ | February 1, 2016 | 1:00 PM EST | Michael W. Chapman
    A survey shows that Jewish Israelis rank Barack Obama as the "worst" U.S. president in relation to Israel in the last 30 years -- 63% of Israelis put Obama in the "worst" category while 16% rated Jimmy Carter as the second "worst" president. The survey was conducted by Panels Politics in Tel Aviv, and the results were published in the Jewish Journal. [...] In a survey just before the 2012 presidential election, Panels Politics found that 47% of Jewish Israelis viewed Barack Obama as "pro-Palestinian"; 24% said "neutral"; and 21% said "pro-Israel." ...
  • This Could Be A Big Setback For Iran’s Oil Export Plans

    02/01/2016 11:42:48 AM PST · by bananaman22 · 4 replies
    Oilprice.com ^ | 01-02-2016 | Fred
    Short but potentially very important note for the oil market over the weekend. From a place that’s been one of the major focus points for the petroleum industry lately. That’s Iran. Where the threat of rising oil exports has been weighing on crude prices now that Western sanctions against the former “rogue” nation are being lifted. That has led many analysts to conclude that supplies from Iran could ramp up fast over the coming months. But events this past Saturday suggest it may not be quite that easy.
  • Retail Apocalypse: 2016 Brings Empty Shelves And Store Closings All Across America

    02/01/2016 8:58:20 AM PST · by SeekAndFind · 134 replies
    EAD ^ | 02/01/2016 | Michael Snyder
    Major retailers in the United States are shutting down hundreds of stores, and shoppers are reporting alarmingly bare shelves in many retail locations that are still open all over the country. It appears that the retail apocalypse that made so many headlines in 2015 has gone to an entirely new level as we enter 2016. As economic activity slows down and Internet retailers capture more of the market, brick and mortar retailers are cutting their losses. This is especially true in areas that are on the lower portion of the income scale. In impoverished urban centers all over the nation,...
  • Canada's Trudeau to DiCaprio: Your climate remarks don't help

    01/22/2016 3:09:22 PM PST · by Sub-Driver · 34 replies
    Canada's Trudeau to DiCaprio: Your climate remarks don't help By Reuters Published: 17:04 EST, 22 January 2016 | Updated: 17:04 EST, 22 January 2016 DAVOS, Switzerland, Jan 22 (Reuters) - Canadian Prime Minister Justin Trudeau urged Leonardo DiCaprio to tone down his "inflammatory rhetoric" on climate change saying it was not helping those who have lost their oil-industry jobs. The movie star had told the World Economic Forum in the Swiss mountain town of Davos on Wednesday that corporate greed was causing climate change and "enough is enough." At a dinner later in the day, Trudeau, elected in October as...
  • Chevron delays big projects, plows the Permian Basin

    01/31/2016 7:56:24 AM PST · by thackney · 2 replies
    Fuel Fix ^ | January 29, 2016 | Collin Eaton
    The CEO of Chevron Corp. said his company recently mothballed a $500 million ultra deep-water Gulf of Mexico development not because the oil reservoir was too small to develop - but because it had better places to spend its money. Namely, the Permian Basin in West Texas. "There are tough choices being made," Chevron CEO John Watson told investors on Friday, after the San Ramon, California oil giant posted its first quarterly loss since 2002. The $588 million loss - worse than analysts had expected - was driven by a series of special charges in the fourth quarter, including Chevron's...
  • Big Oil's Effort To Tax Carbon and Your Family's Finances

    01/30/2016 9:44:01 AM PST · by Kaslin · 6 replies
    Townhall.com ^ | January 30, 2016 | Ken Blackwell
    As world leaders gathered in Paris last month for the United Nations climate summit, many seemed surprised that several large oil companies, including BP and Shell, endorsed a carbon tax as a "key element" of any international climate deal. Less surprising was the preference of those in the renewable energy sector to see a tax on carbon. The implication was of course that if major companies - oil companies in particular - want to tax themselves, who are we to stand in the way? It must be an indication that the climate crisis is so acute that even they have...
  • Cruz Right, Trump Wrong On Ethanol

    01/30/2016 6:42:35 AM PST · by raptor22 · 80 replies
    American Thinker ^ | January 30, 2016 | Daniel John Sobieski
    It has been said that if we were getting so-called “alternative” energy from potatoes instead of corn, the first primary/caucus would be held in Idaho instead of Iowa. As it is, ethanol from corn in the first state where votes are actually cast in a presidential election has led to endless political pandering in support of a fuel that consumes more energy than it provides, is difficult to transport, reduces car mileage, can damage auto enegines, and damages the environment.
  • Russia says Saudis proposing global oil production cut

    01/28/2016 10:36:20 AM PST · by Citizen Zed · 19 replies
    Reuters ^ | 1-28-2016 | Darya Korsunskaya and Rania El Gamal
    Russia said on Thursday that OPEC's largest producer Saudi Arabia, had proposed oil production cuts of up to 5 percent in what would be the first global deal in over a decade to help clear a glut of crude and prop up sinking prices. Benchmark Brent futures jumped as much as 8 percent on Thursday to nearly $36 a barrel on news of the potential deal, which if implemented would immediately reduce surplus global output exceeding demand by 1 million barrels per day (bpd). Brent was trading at $34 a barrel at 1540 GMT. A turnaround in oil's fortunes would...
  • U.S. stocks fall after Fed statement

    01/27/2016 11:50:47 AM PST · by John W · 14 replies
    marketwatch.com ^ | January 27, 2016 | Anora Mahmudova & Sara Sjolin
    U.S. stocks moved back into the red Wednesday after the Federal Reserve left interest rates unchanged and said "economic growth slowed" since its last meeting in December. "Inflation is expected to remain low in the near term," the Fed said in new, more cautious language, that suggests the central bank won't be quick to raise interest rates again. "Lower oil prices and weak global economic growth would make the Fed more cautious about its tightening policy. The second interest rate increase in March has become unlikely," said Jia Liu, research fellow at the American Institute for Economic Research in emailed...
  • Yet another prediction of doom over Greenland ice melt and the AMOC that we can ignore

    01/26/2016 10:41:53 AM PST · by Ernest_at_the_Beach · 9 replies
    wattsupwiththat.com/ ^ | / 4 days ago January 22, 2016 | Anthony Watts
    From the “fresh melt water will disrupt the planet” department, except that this ongoing alarm has already been debunked by NASA, see:NASA refutes Mann and Rahmstorf – Finds Atlantic ‘Conveyor Belt’ Not SlowingIllustration depicting the overturning circulation of the global ocean. Throughout the Atlantic Ocean, the circulation carries warm waters (red arrows) northward near the surface and cold deep waters (blue arrows) southward. Image credit: NASA/JPL Melting Greenland ice sheet may affect global ocean circulation, future climateUniversity of South Florida and international scientists find influx of freshwater could disrupt the Atlantic Meridional Overturning Circulation, an important component of global...
  • Rumors of OPEC-Russia Coordination Send Oil Prices Surging

    01/27/2016 12:24:17 PM PST · by bananaman22 · 9 replies
    Oilprice.com ^ | 27-01-2016 | The Motherland
    Oil prices surged by midday on Wednesday on comments from Russian officials hinting at possible coordination with OPEC on production cuts in an effort to arrest the decline in prices. The day didn’t start off on such a positive note. The EIA reported a massive increase in oil storage levels – a jump of 8.4 million barrels last week. Inventories are at their highest levels in at least 80 years. That pushed oil prices down in early trading on Wednesday.
  • Stock Futures Pull Back as Crude Resumes Slide

    01/25/2016 5:26:38 AM PST · by John W · 12 replies
    thestreet.com ^ | January 25, 2016 | Keris Alison Lahiff
    Stock futures pulled back from last week's big rally after a slide in crude oil prices resumed. Crude oil prices continued to spiral lower on Monday after a 9% jump to end last week. The turn lower on Monday was tied to comments from Saudi Arabia's state oil giant, Saudi Aramco, suggesting the company is continuing to invest in oil and gas projects despite global oversupply. West Texas Intermediate crude oil fell 2.8% to $31.29 a barrel.
  • ND regulators approve route for oil pipeline that will be biggest from Bakken

    01/25/2016 8:03:04 AM PST · by thackney · 24 replies
    InForum ^ | Jan 20, 2016 | Mike Nowatzki
    orth Dakota regulators granted a route permit Wednesday for what will be the largest crude oil pipeline out of the state's fruitful Bakken oil field, leaving Iowa as the only state left to approve the $3.8 billion Dakota Access Pipeline. Public Service Commission members Julie Fedorchak and Brian Kalk voted to grant the permit for Dakota Access LLC, a subsidiary of Dallas-based Energy Transfer Partners, which plans initially to ship up to 450,000 barrels of oil per day on the 1,168-mile pipeline from the Bakken and Three Forks regions in western North Dakota. "This is a massive infrastructure construction project,...
  • Rick Perry endorses Ted Cruz

    01/25/2016 1:18:38 AM PST · by Cincinatus' Wife · 278 replies
    Politico ^ | January 25, 2016 | Katie Glueck
    Former Texas Gov. Rick Perry is endorsing Ted Cruz in the Republican presidential primary, Perry told POLITICO in an interview Sunday night. Perry, who also sought the GOP nomination before dropping out in September, said he now sees the race as one that is between Cruz, a fellow Texan, and Donald Trump. Through phone calls and during a December day spent driving around his Round Top, Texas, home in his truck with Cruz, Perry said he found the senator to be a good listener who respects the Tenth Amendment, "knows what he does not know" and is more conservative than...
  • Saudis 'will not destroy the US shale industry'

    01/24/2016 11:17:44 PM PST · by Cincinatus' Wife · 34 replies
    The Telegraph ^ | January 24, 2016 | Ambrose Evans-Pritchard, International Business Editor, Davos
    "...Daniel Yergin, founder of IHS Cambridge Energy Research Associates, said it is impossible for OPEC to knock out the US shale industry though a war of attrition even if large numbers of frackers fall by the wayside over coming months. Mr Yergin said groups with deep pockets such as Blackstone and Carlyle will take over the infrastructure when the distressed assets are cheap enough, and bide their time until the oil cycle turns. "The management may change and the companies may change but the resources will still be there," he told the Daily Telegraph. "It takes $10bn and five to...