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Dr. Soon: Enviro-Marxism, Cow Toilets & The Green New Deal

Super Male Vitality

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Source: InfoWars

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Virginia man gets 10 years for killing mediator in argument

A Virginia man who fatally shot a bystander while arguing with his ex-girlfriend's new boyfriend will serve only 10 years in prison for manslaughter under a plea deal.

The Virginian-Pilot reported Thursday that 41-year-old Nathaniel Lamarr Williams entered an Alford Plea — asserting his innocence but acknowledging there's evidence to find him guilty — in his 2017 shooting of 25-year-old Aaron Reynolds Charles. Prosecutors dropped a murder charge and agreed to limit the sentence.

Williams' ex-girlfriend, Elaina Johnson, told the court that Williams was visiting that August when her new boyfriend stopped by and the two men argued in front of her home.

She said that when Charles approached asking them to take their argument elsewhere, Williams shot Charles in the chest and then pistol-whipped the mortally wounded man.

___

Information from: The Virginian-Pilot, http://pilotonline.com

Source: Fox News National

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NHL roundup: Vegas, St. Louis make playoffs despite losses

NHL: Minnesota Wild at Vegas Golden Knights
Mar 29, 2019; Las Vegas, NV, USA; Vegas Golden Knights right wing Alex Tuch (89) jumps out of the path of an incoming shot as Minnesota Wild goaltender Devan Dubnyk (40) makes a blocker save during the second period at T-Mobile Arena. Mandatory Credit: Stephen R. Sylvanie-USA TODAY Sports

March 30, 2019

Eric Staal had a goal and an assist, and Devan Dubnyk made 35 saves as the Minnesota Wild held on to edge the Vegas Golden Knights 3-2 on Friday night in Las Vegas.

Despite sustaining a fourth consecutive loss, Vegas still clinched a Stanley Cup playoff berth by virtue of Colorado’s 3-2 shootout victory over the Arizona Coyotes.

Kevin Fiala and Greg Pateryn also scored goals for Minnesota, which remained four points behind the Avalanche for the second Western Conference wild-card spot with four games remaining for both teams. Dubnyk, playing in his 65th game, a league high among goalies, hit the 30-win mark for the fourth straight season while improving to 4-0-1 all-time against the Golden Knights.

Paul Stastny scored both goals for Vegas while Malcolm Subban finished with 29 saves to lose for just the second time (13-2-1) in his career at T-Mobile Arena.

Rangers 4, Blues 2

Jimmy Vesey scored the tiebreaking goal early in the third period for New York, which stormed back from a two-goal, first-period deficit and briefly denied visiting St. Louis a chance to clinch a playoff spot.

The Blues later ended up earning a postseason berth when Colorado defeated Arizona.

Vesey scored on the rebound of a shot by Brett Howden to cap a chaotic sequence deep in the Blues’ zone. Howden had a point-blank shot and a backhanded attempt turned away by St. Louis goalie Jordan Binnington before Vesey swooped in and tucked over the leg of the sprawled-out Binnington at the 5:47 mark.

Avalanche 3, Coyotes 2 (SO)

Nathan MacKinnon matched a career high with his 39th goal and provided the lone score in the shootout as surging Colorado earned a key victory over Arizona in Denver.

The Avalanche seemed headed toward a 2-0 victory as time was winding down in the third period, but Oliver Ekman-Larsson took over for Arizona.

The star defenseman sent a wrister from the far board blue line past Colorado’s Philipp Grubauer to get the Coyotes within a goal with eight minutes left in regulation. Then, with goalie Darcy Kuemper on the bench and an extra skater on the ice, Ekman-Larsson struck from the left circle with 50.5 seconds remaining to tie the game, force overtime and eventually the shootout.

Flames 6, Ducks 1

Sean Monahan scored twice and added two assists as host Calgary scored six unanswered goals en route to a blowout win over Anaheim.

Calgary snapped a two-game losing skid. With one win in their remaining games, the Flames would win a conference title for the first time since the 1989-90 campaign.

Mark Giordano, Garnet Hathaway, James Neal and Derek Ryan also scored for Calgary. The game’s opening goal came from Ducks rookie Andy Welinski, the first of his NHL career.

Predators 3, Penguins 1

Nashville scored in each period, and Pekka Rinne made a season-high-tying 42 saves in a solid win at Pittsburgh.

Craig Smith and P.K. Subban each had a goal and an assist, and Viktor Arvidsson also scored for Nashville, which won its second in a row and tied Winnipeg for first place in the Central Division.

Nick Bjugstad scored a goal, and Matt Murray made 23 saves for Pittsburgh.

Red Wings 4, Devils 0

Dylan Larkin scored his team-high 31st goal and added an assist as host Detroit rolled to its fourth consecutive victory by silencing New Jersey.

Tyler Bertuzzi scored an empty-netter and assisted on two more goals. Danny DeKeyser and Andreas Athanasiou also scored for Detroit.

Jake Chelios, son of longtime Red Wings and Chicago defenseman Chris Chelios, made his NHL debut for Detroit. Chelios, 28, was an emergency call-up from the American Hockey League’s Grand Rapids Griffins due to injuries. He logged more than 17 minutes of ice time against the Devils.

–Field Level Media

Source: OANN

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New Zealand police say Christchurch accused to face 50 murder charges

Flowers and cards are seen at the memorial site for the victims of Friday's shooting, outside Al Noor mosque in Christchurch
Flowers and cards are seen at the memorial site for the victims of Friday's shooting, outside Al Noor mosque in Christchurch, New Zealand March 19, 2019. REUTERS/Edgar Su

April 4, 2019

SYDNEY (Reuters) – The Australian man accused of killing 50 Muslim worshippers in gun attacks on two mosques in Christchurch will face 50 murder charges and 39 attempted murder charges, New Zealand police said on Thursday.

“Other charges are still under consideration,” police said in a statement.

Australian Brenton Tarrant, 28, a suspected white supremacist, was previously charged with only one murder following the attack and has been remanded without a plea.

He is due back in court on Friday. The March 15 attack was the worst mass shooting by a lone gunman in New Zealand.

(Reporting by Tom Westbrook; Editing by Simon Cameron-Moore)

Source: OANN

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Man pleads guilty to murdering 5 family members in Australia

A 25-year-old man pleaded guilty in an Australian court on Wednesday to murdering his three children, wife and mother-in-law in the west coast city of Perth last year.

Anthony Robert Harvey made the plea in an appearance in Stirling Gardens Magistrates Court via video link from prison.

He is to appear at a sentencing hearing in the Western Australia state Supreme Court on June 21. He faces a possible life sentence for each conviction.

The professional gardener killed his wife, Mara Lee Harvey, 41, her 3-year-old daughter Charlotte, and 2-year-old twin sisters Alice and Beatrix in their suburban home on Sept. 3. He then killed 73-year-old Beverley Ann Quinn when she came to visit the next morning.

Harvey stayed in the house for days after the murders before driving 1,400 kilometers (870 miles) north to the mining town of Pannawonica, where he told police on Sept. 9 what he had done.

Police found the bodies of the wife and her mother in the kitchen. The children were found in other rooms.

No explanation for the murders has been submitted to court.

Police said a blunt instrument and knives were used to slay the family.

Source: Fox News World

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State Legislature Passes Bill Mandating Physicians to Provide Care to Babies Who Survive Abortion

The North Carolina legislature passed a bill Tuesday seeking to spell out and mandate physicians provide care to babies who survive abortion.

The state Senate first passed the “Born-Alive Abortion Survivors Protection Act,” SB359, on Monday. The House passed the bill in a 65-46 vote Tuesday, according to The News & Observer.

“Any infant born alive after an abortion or within a hospital, clinic, or other facility has the same claim to the protection of the law that would arise for any newborn, or for any person who comes to a hospital, clinic, or other facility for screening and treatment or otherwise becomes a patient within its care,” according to the legislation. Physicians who violate the bill will be charged with a Class D felony and fined up to $250,000.

North Carolina’s American Civil Liberties Union (ACLU) reacted to the bill’s passage immediately and sent Democratic Gov. Roy Cooper a letter urging him to veto the legislation. The bill would “interfere with the patient-provider relationship, target health care providers, and mislead the public about safe, legal abortion care,” according to the letter.

“This extreme anti-abortion bill shamelessly inserts political ideology into the practice of medicine, replacing health care providers’ best judgment with that of politicians,” North Carolina ACLU Senior Policy Counsel Susanna Birdsong said.

The governor’s spokesman, Ford Porter, also criticized the bill, saying in a statement, “This unnecessary legislation would criminalize doctors for a practice that simply does not exist.”

“Laws already exist to protect newborn babies and legislators should instead be focused on other issues like expanding access to health care to help children thrive,” Porter said, according to the Observer.


Abortion is murder, and these are the facts.

Republican Rep. Sarah Stevens applauded the bill’s passage, the Observer reported. “Nurses, doctors, if you see something, you have a duty to report. And that’s a big part of this bill,” Stevens said.

The born-alive bill’s passage comes after U.S. District Judge William Osteen struck down in late March a ban on abortions after 20 weeks, ruling that a “week-or event-specific” ban is not constitutional, Reuters reported. Legal abortions may occur to the point of viability as determined by a presiding physician under Osteen’s ruling.

South Carolina nearly passed a law banning all abortions except those performed in the case of rape, incest and to save the mother’s life, but the bill died in the state’s Senate.

A number of states have passed bills restricting abortion access. Arkansas, North Dakota, Iowa, Mississippi and Kentucky have proposed bills or enacted laws outlawing abortion in the presence of a fetal heartbeat. Many of the abortion bans, however, have remained ineffective following court orders prohibiting enforcement, Cleveland.com reported.

SB359 now heads to Cooper’s desk for signature. He will likely veto the measure.


Dr. Nick Begich joins Alex Jones live in studio to break down why the globalists, as they consolidate power into the hands of corporate interests worldwide, fear the individual.

Source: InfoWars

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Hulu buys back AT&T’s 9.5 percent stake

FILE PHOTO: The AT&T logo is pictured during the Forbes Forum 2017 in Mexico City
FILE PHOTO: The AT&T logo is pictured during the Forbes Forum 2017 in Mexico City, Mexico, September 18, 2017. REUTERS/Edgard Garrido/File Photo

April 15, 2019

(Reuters) – Streaming service company Hulu is buying back wireless carrier AT&T Inc’s 9.5 percent stake in the company in a deal valued at $1.43 billion, the two companies said on Monday.

The transaction valued Hulu at $15 billion. AT&T said it will use proceeds http://pdf.reuters.com/htmlnews/htmlnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20190415:nBw2r0mxza from the deal to cut down its debt.

(Reporting by Vibhuti Sharma in Bengaluru; Editing by Arun Koyyur)

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Members of The Cranberries, bassist Mike Hogan, drummer Fergal Lawler and guitarist Noel Hogan speak to Reuters during an interview in London
Members of The Cranberries, bassist Mike Hogan, drummer Fergal Lawler and guitarist Noel Hogan speak to Reuters during an interview in London, Britain, April 24, 2019. REUTERS/Gerhard Mey

April 26, 2019

By Hanna Rantala

LONDON (Reuters) – Irish rockers The Cranberries are saying goodbye with their final album released on Friday, a poignant tribute to lead singer Dolores O’Riordan who died last year.

“In the End” is the eighth studio album from the band that rose to fame in the early 1990s with hits likes “Zombie” and “Linger”, and includes the final recordings by O’Riordan, who drowned in a London hotel bath in January 2018 due to alcohol intoxication.

Work on the album began during a 2017 tour and by that winter, O’Riordan and guitarist Neil Hogan had penned and demoed 11 tracks.

With O’Riordan’s vocals recorded, Hogan, bassist Mike Hogan and drummer Fergal Lawler completed the album in tribute to her.

“When we realized how strong the songs were, that was the deciding factor really… There was no point… trying to ruin the legacy of the band,” Noel Hogan said in an interview.

“It was obvious that Dolores wanted this album done because when you hear the album, you hear the songs and how strong they are, and she was very, very excited to get in and record this.”

The Cranberries formed in Limerick in 1989 with another singer. O’Riordan replaced him a year later and the group went on to become Ireland’s best-selling rock band after U2, selling more than 40 million records.

O’Riordan, known for her strong distinctive voice singing about relationships or political violence, was 46 when she died.

“She was actually in quite a good place mentally. She was feeling quite content and strong and looking forward to a new phase of her life,” Lawler said.

“A lot of the lyrics in this album are about things ending… people might read into it differently but it was a phase of her personal life that she was talking about.”

The group previously announced their intention to split after the release of “In The End”.

“We are absolutely gutted we can’t play (the songs) live because that’s something that’s been a massive part of this band from day one,” Noel Hogan said.

“A few people have said to us about maybe even doing a one off where you have different vocalists… as kind of guests of ours. A year ago that’s definitely something we weren’t going to entertain but I don’t know, I think it’s something we need to go away and take time off for the summer and have a think about.”

Critics have generally given positive reviews of the album; NME described it as “(seeing) the band’s career go full-circle” while the Irish Times called it “an unexpected late career high and a remarkable swan song for O’Riordan”.

Their early songs still play on the radio. This week, “Dreams” was performed at the funeral of journalist Lyra McKee, who was shot dead in Londonderry last week as she watched Irish nationalist youths attack police following a raid.

“We wrote them as kids, as a hobby and 30 years later they are on radio and on TV, like all the time… That’s far more than any of us ever thought we would have,” Noel Hogan said.

“That would make Dolores really happy because she was very precious about those songs. Her babies, she called them and to have that hopefully long after we’re gone… that’s all any band can wish for.”

(Reporting by Hanna Rantala; additoinal reporting by Marie-Louise Gumuchian; Writing by Marie-Louise Gumuchian; Editing by Susan Fenton)

Source: OANN

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2020 Democratic presidential candidate Elizabeth Warren participates in the She the People Presidential Forum in Houston
2020 Democratic presidential candidate Elizabeth Warren participates in the She the People Presidential Forum in Houston, Texas, U.S. April 24, 2019. REUTERS/Loren Elliott

April 26, 2019

By Joshua Schneyer and M.B. Pell

NEW YORK (Reuters) – Senator Elizabeth Warren will introduce a bill Friday that offers new protections for U.S. military families facing unsafe housing, following a series of Reuters reports revealing squalid conditions in privately managed base homes.

The Reuters reports and later Congressional hearings detailed widespread hazards including lead paint exposure, vermin infestations, collapsing ceilings, mold and maintenance lapses in privatized base housing communities that serve some 700,000 U.S. military family members.

(View Warren’s military housing bill here. https://tmsnrt.rs/2Dy5aht)

(Read Reuters’ Ambushed at Home series on military housing here. https://www.reuters.com/investigates/section/usa-military)

The Massachusetts Democrat’s bill would mandate both regular and unannounced spot inspections of base homes by certified, independent inspectors, holding landlords accountable for quickly fixing hazards. The military’s privatization program for years allowed real estate firms to operate base housing with scant oversight, Reuters found, leaving some tenants in unsafe homes with little recourse against landlords.

The bill would also require the Department of Defense and its private housing operators to publish reports annually detailing housing conditions, tenant complaints, maintenance response times and the financial incentives companies receive at each base. The provisions aim to enhance transparency of housing deals whose finances and operations the military had allowed to remain largely confidential under a privatization program since the late 1990s.

The measure would also require private landlords to cover moving costs for at-risk families, and healthcare costs for people with medical conditions resulting from unsafe base housing, ensuring they receive continuing coverage even after they leave the homes or the military.

“This bill will eliminate the kind of corner-cutting and neglect the Defense Department should never have let these private housing partners get away with in the first place,” Warren said in a statement Friday.

The proposed legislation comes after February Senate hearings where Warren, a member of the Senate Armed Services Committee who is seeking the Democratic nomination for the 2020 U.S. presidential election, slammed private real estate firms for endangering service families, and sought answers about why military branches weren’t providing more oversight.

Her legislation would direct the Defense Department to allow local housing code enforcers onto federal bases, following concerns they were sometimes denied access. Warren’s office said a companion bill in the House of Representatives would be introduced by Rep. Deb Haaland, Democrat of New Mexico.

In response to the housing crisis, military branches are developing a tenant bill of rights and hiring hundreds of new housing staff. The branches recently dispatched commanders to survey base housing worldwide for safety hazards, resulting in thousands of work orders and hundreds of tenants being moved. The Defense Department has pledged to renegotiate its 50-year contracts with private real estate firms.

Congress has been quick to take its own measures. Earlier legislation proposed by senators Dianne Feinstein and Kamala Harris of California, along with Mark Warner and Tim Kaine of Virginia, would compel base commanders to withhold rent payments and incentive fees from the private ventures if they allow home hazards to persist.

(Editing by Ronnie Greene)

Source: OANN

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FILE PHOTO: Offices of Deloitte are seen in London
FILE PHOTO: Offices of Deloitte are seen in London, Britain, September 25, 2017. REUTERS/Hannah McKay/File Photo

April 26, 2019

By Noor Zainab Hussain and Tanishaa Nadkar

(Reuters) – Deloitte quit as Ferrexpo’s auditor on Friday, knocking its shares by more than 20 percent, days after saying it was unable to conclude whether the iron ore miner’s CEO controlled a charity being investigated over its use of company donations.

Blooming Land, which coordinates Ferrexpo’s Corporate Social Responsibility (CSR) program, came under scrutiny after auditors found holes in the charity’s statements.

Ferrexpo on Tuesday said findings of an ongoing independent investigation launched in February indicated some Blooming Land funds could have been “misappropriated”. It did not provide any details or publish its findings.

Shares in Ferrexpo, the third largest exporter of pellets to the global steel industry, were 23.4 percent lower at 206.1 pence at 1022 GMT following news of Deloitte’s resignation.

“Ferrexpo’s shares are deeply discounted vs peers … following the resignation of Deloitte, we expect downside risks to dominate Ferrexpo’s shares near term.” JP Morgan analyst Dominic O’Kane said in a note on Friday.

Swiss-headquartered Ferrexpo did not provide a reason for the resignation of Deloitte, which declined to comment, while Blooming Land did not respond to a request for comment.

Funding for Blooming Land’s CSR activities is provided by one of Ferrexpo’s units in Ukraine and Khimreaktiv LLC, an entity ultimately controlled by Ferrexpo’s CEO and majority owner Kostyantin Zhevago, Ferrexpo said on Tuesday.

Ferrexpo’s board has found that Zhevago did not have significant influence or control over the charity, but Deloitte said it was unable reach a conclusion on this.

Reuters was not immediately able to contact Zhevago.

In a qualified opinion, a statement addressing an incomplete audit, Deloitte said it had been unable to conclude whether $33.5 million of CSR donations to Blooming Land between 2017 and 2018 was used for “legitimate business payments for charitable purposes”.

Deloitte said on Tuesday that total CSR payments made to Blooming Land by Ferrexpo since 2013 total about $110 million.

Ferrexpo, whose major mines are in Ukraine, has said that the investigation was ongoing and new evidence pointed to potential discrepancies.

Zhevago, 45, who ranked 1,511 on Forbes magazine’s list of billionaires for 2019 with a net worth of $1.4 billion, owns the FC Vorskla soccer club and has been a member of Ukraine’s parliament since 1998.

(Reporting by Noor Zainab Hussain and Tanishaa Nadkar in Bengaluru and additional reporting by Pavel Polityuk in Kiev; editing by Gopakumar Warrier, Bernard Orr)

Source: OANN

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Children walk past a damaged building in the aftermath of the Cyclone Kenneth in Pemba
Children walk past a damaged building in the aftermath of the Cyclone Kenneth in Pemba, Mozambique April 26, 2019 in this still image obtained from social media. SolidarMed via REUTERS ATTENTION EDITORS – THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. MANDATORY CREDIT. NO RESALES. NO ARCHIVES

April 26, 2019

By Emma Rumney and Stephen Eisenhammer

JOHANNESBURG/LUANDA (Reuters) – Cyclone Kenneth killed at least one person and left a trail of destruction in northern Mozambique, destroying houses, ripping up trees and knocking out power, authorities said on Friday.

The cyclone brought storm surges and wind gusts of up to 280 km per hour (174 mph) when it made landfall on Thursday evening, after killing three people in the island nation of Comoros.

It was the most powerful storm on record to hit Mozambique’s northern coast and came just six weeks after Cyclone Idai battered the impoverished nation, causing devastating floods and killing more than 1,000 people across a swathe of southern Africa.

The World Food Programme warned that Kenneth could dump as much as 600 millimeters of rain on the region over the next 10 days – twice that brought by Cyclone Idai.

One woman in the port town of Pemba died after being hit by a falling tree, the Emergency Operations Committee for Cabo Delgado (COE) said in a statement, while another person was injured.

In rural areas outside Pemba, many homes are made of mud. In the main town on the island of Ibo, 90 percent of the houses were destroyed, officials said. Around 15,000 people were out in the open or in “overcrowded” shelters and there was a need for tents, food and water, they said.

There were also reports of a large number of homes and some infrastructure destroyed in Macomia district, a mainland district adjacent to Ibo.

A local group, the Friends of Pemba Association, had earlier reported that they could not reach people in Muidumbe, a district further inland.

Mark Lowcock, United Nations under-secretary-general for humanitarian affairs, warned the storm could require another major humanitarian operation in Mozambique.

“Cyclone Kenneth marks the first time two cyclones have made landfall in Mozambique during the same season, further stressing the government’s limited resources,” he said in a statement.

FLOOD WARNINGS

Shaquila Alberto, owner of the beach-front Messano Flower Lodge in Macomia, said there were many fallen trees there, and in rural areas people’s homes had been damaged. Some areas of nearby Pemba had no power.

“Even my workers, they said the roof and all the things fell down,” she said by phone.

Further south, in Pemba, Elton Ernesto, a receptionist at Raphael’s Hotel, said there were fallen trees but not too much damage. The hotel had power and water, he said, while phones rang in the background. “The rain has stopped,” he added.

However Michael Charles, an official for the International Federation of the Red Cross and Red Crescent Societies (IFRC), said heavy rains over the next few days were likely to bring a “second wave of destruction” in the form of flooding.

“The houses are not all solid, and the topography is very sandy,” Charles said.

In the days after Cyclone Idai, heavy inland rains prompted rivers to burst their banks, submerging entire villages, cutting areas off from aid and ruining crops. There were concerns the same could happen again in northern Mozambique.

Before Kenneth hit, the government and aid workers moved around 30,000 people to safer buildings such as schools, however authorities said that around 680,000 people were in the path of the storm.

(Reporting by Emma Rumney and Stephen Eisenhammer; Writing by Emma Rumney; Editing by Janet Lawrence and Alexandra Zavis)

Source: OANN

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A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai
FILE PHOTO: A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai, India, May 21, 2018. REUTERS/Francis Mascarenhas

April 26, 2019

By Manoj Kumar and Nidhi Verma

NEW DELHI (Reuters) – Surging global oil prices will pose a first big challenge to India’s new government, whoever wins an election now under way, especially as domestic prices have been allowed to lag, meaning consumers are in for a painful surge as they catch up.

For oil-import dependent India, higher global prices could lead to a weaker rupee, higher inflation, the ruling out of interest rate cuts and could further weigh on twin current account and budget deficits, economists warned.

But compounding the future pain, state-run fuel suppliers and retailers have held off passing on to consumers the higher prices during a staggered general election, which began on April 11 and ends on May 23, according to sources familiar with the situation.

That delay is expected to be unwound once the election is over. And there could be additional price increases to make up for losses or profits missed during the period of delayed increases, the sources said.

In some major Asian countries, such as Japan and South Korea, pump prices are adjusted periodically so they move largely in tandem with international crude prices.

That was what was supposed to happen in India but the election means there have been many days when pump prices have been unchanged.

In New Delhi, for example, while crude oil prices have gone up by nearly $9 a barrel, or about 12 percent, in the past six weeks, gasoline prices have only risen by 0.47 rupees a liter, or 0.6 percent.

State-controlled fuel suppliers and retailers declined to say why they had delayed price increases, or discuss whether there has been any pressure from the government of Prime Minister Narendra Modi.

A government spokesman declined to comment.

The opposition Congress party said Modi’s government was violating its own policy of daily price revision by advising the state oil companies to hold prices steady.

“The government should cut fuel taxes otherwise consumers will have to pay much higher oil prices once the elections are over,” said Akhilesh Pratap Singh, a senior leader of the Congress party.

(GRAPHIC: India Polls: Fuel price hike lags crude surge – https://tmsnrt.rs/2XLlxik)

Nitin Goyal, treasurer at the All India Petroleum Dealers Association, representing fuel stations in 25 states, said prices were similarly held down for 19 days in the southern state of Karnataka last year, when it held state assembly elections.

Only for them to surge after the vote.

“Consumers should be ready for a rude shock of a massive jump in retail prices, similar to the level we have seen in the Karnataka state election,” Goyal said.

‘CREDIT NEGATIVE’

Sri Paravaikkarasu, director for Asia oil at Singapore-based consultancy FGE, said retail prices of gasoline and gasoil prices would have been up to 6 percent, or about 4 rupee, higher if they had been allowed to rise in line with global prices.

“Indian pump prices have failed to keep up with the recent uptrend in crude prices,” Paravaikkarasu said.

“With the country’s general elections underway, the incumbent government has been keeping pump prices relatively unchanged.”

India had switched to a daily price revision in June 2017 from a revision every two weeks, as the government allowed retailers to set prices.

But the government faced protests last October when retailers raised prices by up to 10 rupees a liter after the crude oil price went above $80 a barrel, forcing it to cut fuel taxes.

Global prices rose to their highest level in 2019 on Thursday, days after the United States announced all Iran sanction waivers would end by May, pressuring importers including India to stop buying Tehran’s oil. [O/R]

Higher oil prices will mean Asia’s third largest economy is likely to see growth of less than 7 percent rate this fiscal year, economists said. Growth slowed to 6.6 percent in the October-December quarter, the slowest in five quarters.

Rating agency CARE has warned that a 10 percent rise in global oil prices could increase demand for dollars, putting pressure on the rupee and widening the current account deficit.

India’s oil import bill rose by nearly one-third in the fiscal year ending March 31 to $140.5 billion, against $108 billion the previous year.

“The increase in international oil prices is a credit negative for the Indian economy,” ICRA, the Indian arm of the Fitch rating agency, said in a note.

“Every $10/ bbl increase in crude oil prices increases the fiscal deficit by about 0.1 percent of GDP.”

Any big price rise would also build a case for the central bank to keep rates steady, or even raise them.

The Reserve Bank of India’s Monetary Policy Committee, which cut the benchmark policy repo rate by 25 basis points this month, warned that rising oil and food prices could push up inflation.

Policymakers are worried that a sustained increase in the oil price in the range of $70-75/barrel or higher can move the rupee down by 3-4 percent on an annual basis.

The rupee has depreciated by 1.24 percent against the dollar since a year high in mid-March.

($1 = 70.1800 Indian rupees)

(Reporting by Manoj Kumar and Nidhi Verma; Editing by Martin Howell and Rob Birsel)

Source: OANN

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