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Asian, European LNG prices crash below $5 on oversupply

FILE PHOTO: A liquified natural gas (LNG) tanker leaves the dock after discharge at PetroChina's receiving terminal in Dalian
FILE PHOTO: A liquified natural gas (LNG) tanker leaves the dock after discharge at PetroChina's receiving terminal in Dalian, Liaoning province, China July 16, 2018. REUTERS/Chen Aizhu

March 21, 2019

By Sabina Zawadzki

LONDON (Reuters) – Asian spot prices for liquefied natural gas (LNG) broke below the $5 per million British thermal unit (mmBtu) mark this week following a 13-week price slide that reflects the absence of growth in demand or any major outages.

Spot prices for May delivery to Northeast Asia dropped 80 cents to $4.65 per million British thermal units (mmBtu) this week according to traders although there were few actual transactions with Asia’s biggest buyers, Japan, Korea or China.

Asian LNG spot prices are now at their lowest level since May 2016 and close to the lowest point in Refinitiv records going back to 2010 of $4.00 per mmBtu, which was reached in April 2016.

They are also lower than the European natural gas hub price in the Netherlands and Britain, which usually trade at a premium to spot Asian LNG prices. The last time this happened was in January and February of 2015, according to Refinitiv Eikon data.

There were two transactions completed in the Platts market on close (MOC) window, both cargoes to India.

The first one was sold by Vitol to Gunvor for Indian west coast delivery at the start of May for $4.55 per mmBtu. Vitol also sold to Glencore a cargo to Dahej terminal for the end of May at $4.75 per mmBtu.

In Europe, prices were heard at discounts of 20 cents to month-ahead Dutch gas prices at the TTF hub, which were at around $4.98 per mmBtu on Thursday.

Deliveries into North West Europe have jumped to 67 cargoes, or 4.24 million tonnes, this month from 54 cargoes in January, which was a record high for the region since Refinitv Eikon data began in 2013.

The influx has helped to halve prices at both the Dutch and British hubs since their peaks in September.

The market has been inundated with supplies coming onstream from the United States, Russia and Australia. In addition Egypt, which has had to import LNG in previous years due to gas shortages, has started to ramp up its exports.

A cyclone heading for north western Australia may disrupt LNG loading there, according to Kpler, a shipping intelligence company.

Vessels have been cleared at Dampier, loading point for Woodside’s Pluto and North West Shelf LNG, and Ashburton, the loading point for Chevron’s Wheatstone LNG, according to Pilbara Port Authority.

(Reporting by Sabina Zawadzki. Editing by Jane Merriman)

Source: OANN

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Man gets prison in hit-and-run death of Detroit officer

A young man has been sentenced to up to 15 years in prison for the hit-and-run killing of a Detroit police officer.

Nineteen-year-old Jonathan Cole of Belleville was sentenced Friday. The Wayne County prosecutor's office said he pleaded no contest last month to charges of reckless driving causing death and failure to stop at the scene of a crash that caused death.

Cole was accused of hitting 30-year-old Fadi Shukur as the officer helped disperse a crowd after a party in August. Shukur later died of his injuries.

Cole apologized Friday in court to Shukur's family and the police department.

Cole was initially charged with second-degree murder, but a judge dismissed that charge in September after saying the evidence didn't support it.

Source: Fox News National

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U.S. presidential hopeful Warren urges universal childcare, ‘ultra-millionaire’ tax

FILE PHOTO: U.S. Senator Elizabeth Warren speaks at a rally to launch her campaign for the 2020 Democratic presidential nomination in Lawrence
FILE PHOTO: U.S. Senator Elizabeth Warren (D-MA) speaks at a rally to launch her campaign for the 2020 Democratic presidential nomination in Lawrence, Massachusetts, U.S., February 9, 2019. REUTERS/Brian Snyder/File Photo

February 19, 2019

By Ginger Gibson

WASHINGTON (Reuters) – U.S. Senator Elizabeth Warren, a Democrat running for president, on Tuesday proposed a universal childcare program, paid for by a tax on high-net-worth individuals, to help families unable to find affordable care.

The program would be funded largely by the federal government and would use existing childcare facilities and in-home providers.

The proposed tax would apply to individuals with a net worth of $50 million or higher, which the senator from Massachusetts has dubbed the “Ultra-Millionare Tax.” Her campaign estimates the tax would generate $2.75 trillion in government revenue in 10 years.

“In the wealthiest country on the planet, access to affordable and high-quality child care and early education should be a right, not a privilege reserved for the rich,” Warren said in an online post explaining her proposal.

Warren is vying for the Democratic Party’s presidential nomination, hoping to challenge Republican President Donald Trump in the November 2020 election. The Democratic field has grown rapidly, pitting candidates like Warren in the party’s more liberal wing against moderates, who may be more reluctant to back expansive new federal programs.

Republicans are likely to criticize her proposal as being too expensive and dependent on a new tax that would harm the economy. Republicans have said childcare programs should be driven by the states, and not imposed by the federal government.

U.S. states generally offer public education beginning around age 5. There are no other public programs open to all children, and the average family pays thousands of dollars for day care. Programs like the federal government’s Head Start make preschool available to children from poor families.

Warren is not proposing the creation of a national school network, but using existing childcare options and then adding more.

Under her proposal, the cost of childcare would depend on a family’s income. Families that make 200 percent of the federal poverty line – currently about $50,000 or less for a family of four – would get childcare for free. For those who make more, their payments would be capped at 7 percent of income.

For example, according to Warren’s campaign, a family of four making $125,000 a year would pay no more than $8,750 a year for childcare. She compared that with the cost faced by a family in New Hampshire, which currently would pay about $21,000 a year for care for two children.

The program would not be mandatory, so families that opt to have a parent remain home and provide childcare could continue to do so.

(Reporting by Ginger Gibson; editing by Jonathan Oatis)

Source: OANN

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U.S. judge rebuts Trump on transgender troop limits

FILE PHOTO - Members of the Army march up 5th Avenue during the Veterans Day Parade in New York
FILE PHOTO - Members of the Army march up 5th Avenue during the Veterans Day Parade in New York November 11, 2012. REUTERS/Carlo Allegri

March 19, 2019

By Andrew Chung

WASHINGTON (Reuters) – A federal judge on Tuesday contradicted the Trump administration’s “incorrect” claim that no legal blocks remain for it to enforce a contentious policy to restrict many transgender individuals from the U.S. armed forces starting on April 12.

In a three-page notice, U.S. Judge Colleen Kollar-Kotelly said an injunction that she issued against the policy in 2017 remains in place.

“Defendants were incorrect in claiming that there was no longer an impediment to the military’s implementation” of the transgender policy, the judge wrote.

A spokeswoman for Pentagon said it was consulting with the U.S. Justice Department, which declined to comment.

Three other injunctions issued by judges in separate cases have already been lifted, in part by a Jan. 22 U.S. Supreme Court decision and subsequent action by a federal judge in Maryland.

That prompted the U.S. Defense Department to sign a memo on March 12 that would enforce its service limitations on transgender people, effective one month later.

Kollar-Kotelly’s injunction, however, had been set aside by a three-judge panel of the District of Columbia U.S. Circuit Court of Appeals on Jan. 4. The panel said it would hold off on issuing a “mandate” to finalize the higher court’s decision until it resolves any request by the plaintiffs who challenged the transgender policy as a violation of the U.S. Constitution to rehear their appeal.

“The Trump administration cannot circumvent the judicial process just to fast track its baseless, unfair ban on transgender servicemembers,” said attorney Jennifer Levi of the anti-discrimination group GLBTQ Legal Advocates & Defenders, who represents the plaintiffs.

President Donald Trump in 2017 announced a plan to ban transgender people from the military, reversing Democratic former President Barack Obama’s policy of allowing transgender troops to serve openly and get medical transition care.

In March 2018, Trump backed a revised policy from then-Defense Secretary Jim Mattis. It banned, in some circumstances, transgender people with gender dysphoria, or distress due to internal conflict between physical gender and gender identity.

The Mattis policy also banned transgender people who seek or have undergone gender transition steps.

(Reporting by Andrew Chung; Editing by Richard Chang)

Source: OANN

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Marlins release SP Straily three days before opener

MLB: Spring Training-Miami Marlins at New York Mets
Mar 8, 2019; Port St. Lucie, FL, USA; Miami Marlins starting pitcher Dan Straily (58) throws against the New York Mets during a spring training game at First Data Field. Mandatory Credit: Steve Mitchell-USA TODAY Sports

March 25, 2019

In somewhat of a surprise move, the Miami Marlins released veteran starting pitcher Dan Straily just three days before the start of the regular season, the team announced Monday.

The 30-year-old right-hander was expected to be the most experienced member of the young Marlins’ rotation this season, and had settled for a $5 million contract this season to avoid arbitration. But the team instead says it was impressed enough with the young arms this spring that it decided to go all-in with their inexperienced, but talented starters.

“We talked about competition and taking the best 25 south with us [to Miami],” Marlins president of baseball operations Michael Hill told the Sun-Sentinel of the roster. “We had seven [starting pitchers] competing going into spring and the competition did not disappoint.

“We saw the growth of Trevor Richards (25), Pablo Lopez (23) and Sandy Alcantara (23) — these guys came ready to make the team. Caleb Smith (27) was recovering from injury, but everything was great with his recovery. We just wanted to monitor and make sure that he was getting the workload that he needed to be sharp and to help us as we approached Opening Day.”

Jose Urena, 27, is tabbed as the top starter for Miami, and the youth movement leaves Straily as the odd man out after the team decided to move Wei-Yin Chen to the bullpen a day earlier.

Straily, who was traded from the Cincinnati Reds before the 2017 season, produced respectable numbers in his two seasons with the Marlins — going 15-15 in 56 starts with a 4.20 ERA. But he struggled on the mound this spring, allowing six home runs in five starts with a 5.94 ERA.

Since coming up with the Oakland A’s in 2012, Straily has pitched for five teams in seven seasons — including the A’s (2012-14), Chicago Cubs (2014), Houston Astros (2015), Reds (2016) and the Marlins.

In seven big-league seasons Straily is 42-36 with a 4.23 ERA in 142 appearances (132 starts), with a career-best season in 2016 with the Reds (14-8, 3.76 ERA).

–Field Level Media

Source: OANN

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Student group decries Columbia prof’s ‘disturbing’ Israel-ISIS comparison

A pro-Israel student group at Columbia University has called on the university's leadership to denounce a Facebook post by an Iranian studies and comparative literature professor in which he compared the Jewish state to the Islamic State (ISIS).

The since-deleted post by Hamid Dabashi, published March 30, asked: "What's the difference between ISIS and ISRAEL? ... ISIS murderous thugs conquered parts of Syria and declared a 'caliphate,' no decent human being on planet earth recognized their armed robbery or their 'caliphate' – their ISRAELI  counterparts meanwhile conquered parts of Syria and declared it part of their Zionist settler colony – no decent human being on planet earth recognizes their armed robbery ..."

Dabashi then answered his own question: "ISIS does not have a platoon of clean shaven and well coiffured [sic] columnists at the New York Times propagating the cause of the terrorist outfit as the Zionists columnists do on a regular basis.

"All of Syria belong to all Syrian people," Dabashi concluded, " not an inch it either to ISIS or to ISRAEL".

"While we as a member of the Columbia community strongly believe in academic freedom and have the utmost respect for all educators, this kind of utterly despicable and repugnant statement is not to be expected from a tenured faculty holder in an Ivy League institution," the university chapter of Students Supporting Israel said in a statement Thursday that included a screenshot of Dabashi's post. "This is completely unacceptable and must be renounced."

Dabashi has a history of inflammatory comments about Israel and the Jewish people. Last May, after President Trump announced the U.S. was pulling out of the Iran nuclear deal, Dabashi posted a tweet blaming Israel for "every dirty treacherous ugly and pernicious act happening in the world."

The professor also attacked Israeli Prime Minister Benjamin Netanyahu in another now-deleted Facebook post as "this ridiculous man, this notorious, corrupt, criminally insane creature, this laughing stock of every decent civilized human being on planet earth, this pathetic pathological liar, this vulgar vicious charlatan,” he wrote, “this settler colonialist racist thug, this war criminal, this leading perpetrator of crimes against humanity, this nightmare who needs to be put in a [straitjacket] and chained to a cage in an asylum house or a zoo ..."

Last month, Dabashi wrote in an opinion piece for Al Jazeera that "Jews are the victims, Zionists the beneficiaries of anti-Semitism. ... The conflation of Zionism and Judaism ... is a false flag to confuse the issue and prevent the active solidarity of these two main victims of their racism."

In response, Jonathan Greenblatt, the CEO and national director of the Anti-Defamation League (ADL), wrote that Dabashi "employs all the sleights of hands by those on the political left who engage in anti-Semitic tropes against Jews. ...

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"He tries to separate out Zionism from Judaism, when Zionism is the fulfillment of the 2000-year aspiration of the Jewish people to return to the Holy Land," wrote Greenblatt. " He claims to be opposed to anti-Semitism, but only acknowledges anti-Semitism from the right. And he demonizes Israel under the guise of legitimate criticism of the Jewish state. ... Those who truly care about combatting anti-Semitism need to reject anti-Semitism in whatever form it surfaces. Using Israel as a cover for such anti-Semitism won't do the trick and should be condemned by all those who want to combat the surge of hate in today’s world."

Emails to Dabashi and Columbia President Lee Bollinger requesting comment were not immediately answered.

Source: Fox News National

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FILE PHOTO: File photo of a Chevron gas station sign in Del Mar, California
FILE PHOTO: A Chevron gas station sign is seen in Del Mar, California, in this April 25, 2013 file photo. REUTERS/Mike Blake/File Photo

April 26, 2019

(Reuters) – U.S. oil and natural gas producer Chevron Corp reported a 27 percent fall in quarterly earnings on Friday, hit by lower crude prices and weaker margins in its refining and chemicals businesses.

Net income attributable to the company fell to $2.65 billion, or $1.39 per share, for the first quarter ended March 31, from $3.64 billion, or $1.90 per share, a year earlier.

Earlier in the day, larger rival Exxon Mobil Corp reported earnings well below analysts’ estimates, as margins in its refining business were hurt by higher Canadian prices and heavy scheduled maintenance.

(Reporting by Arathy S Nair in Bengaluru; Editing by Saumyadeb Chakrabarty)

Source: OANN

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FILE PHOTO: Ford logo is seen at the North American International Auto Show in Detroit, Michigan
FILE PHOTO: The Ford logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Brendan McDermid/File Photo

April 26, 2019

(Reuters) – Ford Motor Co said on Friday the U.S. Department of Justice had opened a criminal investigation into the automaker’s emissions certification process in the United States.

The potential concern does not involve the use of defeat devices, the company said in a regulatory filing. (https://bit.ly/2VqjHpl)

Ford had voluntarily disclosed the matter to the U.S. Environmental Protection Agency and the California Air Resources Board in February.

(Reporting by Ankit Ajmera in Bengaluru; Editing by James Emmanuel)

Source: OANN

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Hundreds of Cuban migrants are reported to be on the run Friday in Mexico after a crowd of more than 1,000 burst out of a troubled immigration detention center on its southern border.

Mexico’s National Immigration Institute said the mass escape Thursday in Tapachula – which the Associated Press called the largest in recent memory — involved around 1,300 Cuban migrants, although 700 of them have since returned voluntarily.

The migrants reportedly streamed out of the compound without any resistance, as the institute said its agents weren’t armed and “there was no confrontation.”

Federal police with riot shields later rushed in to control the situation, as a crowd of angry Cubans whose relatives were being held at the facility gathered outside. The Cubans claimed their relatives reported overcrowding and unsanitary conditions at the facility.

A Federal Police officer stands guard outside an immigration detention center in Tapachula, Chiapas state, Mexico, late Thursday, following a breakout.

A Federal Police officer stands guard outside an immigration detention center in Tapachula, Chiapas state, Mexico, late Thursday, following a breakout. (AP)

BORDER PATROL UNION CHIEF BLASTS CONGRESS OVER MIGRANT CARAVANS: ‘WHAT ARE YOU DOING ABOUT IT’?

“My wife and child have been in there for 27 days in bad conditions,” said Usmoni Velazquez Vallejo, as he waited outside for news. “There is overcrowding, insufficient food and there isn’t even medicine for them.”

Another Cuban detainee told the AFP: “We have many there… we are very tight, we sleep on the floor.”

It’s the third time since October that migrants at the facility staged an uprising, according to the news agency.

The center’s holding capacity is officially listed at less than 1,000 people, but the escape of 1,300 meant it was probably at least at double its capacity, since not everyone being held there escaped. Residents in the area said that sometimes the facility has held as many as 3,000 people, and a Mexican newspaper cited by Reuters said Haitians and Central Americans also are among the large group who still have not been tracked down.

Migrants wait for their transfer from an immigration detention center in Tapachula, Chiapas state, Mexico, on Thursday.

Migrants wait for their transfer from an immigration detention center in Tapachula, Chiapas state, Mexico, on Thursday. (AP)

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Earlier in the day, Mexico’s top human rights official toured the facility.

Elsewhere in the country, a new caravan estimated to contain up to 10,000 migrants is making its way to the U.S.-Mexico border.

The Associated Press contributed to this report.

Source: Fox News World

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Logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro
FILE PHOTO: A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes

April 26, 2019

(Reuters) – Exxon Mobil Corp on Friday reported first-quarter profit fell sharply on lower oil and gas prices and weakness in its refining and chemicals businesses that offset modest production gains.

The largest U.S. oil producer’s first quarter earnings fell to $2.35 billion, or 55 cents a share, from $4.65 billion, or $1.09 a share, a year ago.

Analysts had expected Exxon to earn 70 cents per share, according to Refinitiv Eikon estimates.

Shares were trading down about 2.7 percent in premarket trading on Friday.

Exxon’s oil equivalent production rose 2 percent to 4 million barrels per day, up from 3.9 million bpd in the same period the year prior. The company said its output in the Permian Basin, the largest U.S. shale basin, rose 140 percent over a year ago.

(Reporting by Jennifer Hiller; Editing by Chizu Nomiyama)

Source: OANN

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The Washington Post’s media critic went into meltdown after White House Press Secretary Sarah Sanders held a mock press briefing for the children of White House journalists and employees on Take Your Daughters and Sons to Work Day.

Erik Wemple, the newspaper’s chief media critic, slammed Sanders and the White House for organizing a fun day on Thursday for junior would-be journalists, while not holding an actual press conference for the record number of days.

WHITE HOUSE STAFF TO SKIP CORRESPONDENTS’ DINNER AFTER LAST YEAR’S CONTROVERSY

Wemple wrote that Sanders gave to children an important lesson of “the centrality of nonaccountability mechanisms in the affairs of state” after she announced that the mock press briefing was “off the record.”

“When the children head home tonight, perhaps they can pull up archival footage to see how their questions stack up against ye olde press briefings,” he added.

“Accordingly, Sanders was doing more than just providing a fun interlude for the kids; she was headlining a reenactment, anchoring a bona fide historical site.”

— Erik Wemple

“Tuesday, after all, marked a record for number of days without a White House press briefing. Accordingly, Sanders was doing more than just providing a fun interlude for the kids; she was headlining a reenactment, anchoring a bona fide historical site.”

While some correspondents praised the White House for doing “a lot of work to welcome the children and provide “them an excellent experience,” other journalists echoed Wemple’s criticism and pointed out that Sanders hasn’t held a press briefing in over 40 days.

“Kids of WH Press Corps members are getting ready for a briefing with  @PressSec. Their parents have not had one in 45 days,” tweeted CBS News’ White House Correspondent Weijia Jiang.

REPORTER SHOUTS AT SARAH SANDERS AFTER BRIEFING: ‘DO YOUR JOB, SARAH!’

“The irony of it is that they’re pretending that the White House press briefing is a thing, and they’re pretending that this is how the White House operates, but this is not at all how the White House operates … It’s a relic of an earlier time,” another correspondent quoted by the Post said.

“The irony of it is that they’re pretending that the White House press briefing is a thing, and they’re pretending that this is how the White House operates, but this is not at all how the White House operates … It’s a relic of an earlier time.”

— a White HOuse Correspondent

The Post struck a different tune in a column earlier this year, which declared that despite the administration’s criticism of the media, President Trump was “extremely accessible.”

Wemple quoted Martha Joynt Kumar, director of the White House Transition Project, who said that Trump held 338 “short question-and-answer” sessions over his time in office, significantly more than 75 such sessions by former President Barack Obama during his first full two years in office.

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In terms of total instances of access to the media, which include interviews, short sessions, and news conferences, Trump was accessible least 577 times in his first two years in office.

Source: Fox News Politics

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