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09 февраля, 18:07

Occidental Petroleum (OXY) Q4 Loss Wider, Revenues Beat

Occidental Petroleum Corporation (OXY) reported fourth-quarter 2016 loss of 13 cents per share, wider than the Zacks Consensus Estimate of a loss of 3 cents.

08 февраля, 13:18

White House eyeing fossil fuel lobbyist for energy adviser job

Fossil fuel industry lobbyist Mike Catanzaro is under consideration to serve as an energy adviser on the National Economic Council, sources told POLITICO, an appointment that would test President Donald Trump’s promise to limit the number of lobbyists who serve in his administration.Catanzaro, who was a registered lobbyist as of last month, is a partner at the firm CGCN Group. His clients include American Fuel and Petrochemical Manufacturers, an industry trade group; natural gas company Devon Energy, renewable energy company NextEra Energy; and fossil fuel companies Noble Energy and Hess Corporation, among others, according to lobbying disclosure records.During the presidential campaign, Trump repeatedly vowed to “drain the swamp” in Washington. He signed an executive order late last month that bars registered lobbyists from participating in “any particular matter” on which they lobbied in the past two years. Those lobbying restrictions last for two years from the time the person joins the administration.The order allows for the administration to issue a waiver that would let lobbyists serve in the administration, but it does not include a provision like the one in an order signed by President Barack Obama in 2009 that requires disclosure of the waivers.It’s unclear if Catanzaro would sign a waiver or recuse himself from working on specific issues on which he lobbied.Trump’s National Economic Council is led by former Goldman Sachs Group President and Chief Operating Officer Gary Cohn. The council will advise Trump on a range of economic policy issues.Catanzaro is among the lobbyists listed in CGCN’s January lobbying registration for Goldman Sachs Group.Before he became a lobbyist, Catanzaro held a number of high-profile energy policy jobs in Washington. He was a Republican aide on the Senate Environment and Public Works Committee, an energy adviser to George W. Bush’s 2004 presidential campaign, a top staffer in Bush’s EPA and his White House Council on Environmental Quality, and a member of Mitt Romney’s presidential transition team in 2012. He was a former adviser to House Speaker John Boehner as well.Catanzaro also briefly served on Trump’s transition team. But he stepped down in November after the transition imposed new rules that required lobbyists serving on the transition to drop all their clients.Catanzaro did not respond to requests for comment. The White House did not respond to a request for comment. CGCN declined to comment.

08 февраля, 04:31

Can Oil Rescue Guyana from the Brink of Calamity?

Scott B. MacDonald Economics, Americas Not if Venezuela has anything to say about it. Guyana is one of the poorest countries in the Western Hemisphere, with a small population of fewer than one million people. Most of its population hugs the Atlantic coast. Despite a wealth of natural resources, Guyana’s location on the relatively remote northeast shoulder of South America, political dysfunction until the 1990s, and a longstanding border dispute with neighboring Venezuela have left the country in challenged economic straits. The recent discovery of a large offshore track of oil could change this, but also opens the door to new tensions with Venezuela, and could make Guyana one of the Caribbean’s hot spots in 2017. In early January two major oil companies, Exxon Mobil and Hess, announced that they had successfully drilled a deepwater exploration well that strongly suggests that the seafloor beneath Guyana’s coastal waters contains one of the largest oil and natural-gas discoveries in recent years. The offshore field, called Liza, has been under exploration for a number of years, but recent efforts indicate that the field could contain 1.4 billion barrels of oil mixed with natural gas. If so, this would be comparable with some of the largest fields drilled in South America. According to the New York Times’ Clifford Krauss, “Early rough estimates by experts of how much recoverable oil Guyana could have range to more than four billion barrels, which at today’s prices would be worth more than $200 billion.” If all goes well, further tests confirm the size and scale of the field, and companies are able to move ahead with tapping the resource, Guyana could have an oil industry up and running by 2020. The discovery of oil would change Guyana in many ways. Read full article

08 февраля, 01:35

The Atlantic Politics & Policy Daily: DeVos Bearly Confirmed in the Senate

Vice President Mike Pence cast the tie-breaking vote to confirm Betsy DeVos as secretary of education.

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08 февраля, 00:00

How a Fractious Women's Movement Came to Lead the Left

Amanda Hess, NYT MagHours before the start of the Women’s March on Washington on Jan. 21, every Metro car leading to the National Mall was packed so tight that it could take on no more riders. At station after station, the train doors would open, and the passengers would look out on throngs of fellow protesters — women, men, children, babies, the occasional dog — waiting on the platform. As people emerged from underground into the morning air, it was hard to tell where to go, so they found their way by gauging the human density, moving until they reached a spot so full of people that they could...

06 февраля, 23:51

DeVos Showdown Looming, Think Tank AEI Offers Misleading Defense of Nominee

With the nomination of Betsy DeVos to be the Trump Secretary of Education facing an impending Senate vote, there has been a strong effort by concerned citizens across the country to find the one more Republican senator who could potentially block the controversial nominee. Right now, Senate Democrats are in the midst of a planned all-night talkathon against the nomination. (WATCH.) Senator Al Franken (D-MN) stated on January 26 that none of the 48 Democratic caucus senators would vote for DeVos. Meanwhile, two GOP senators, Susan Collins (ME) and Lisa Murkowski (AK), have announced they will vote against the nominee. Both sit on the Senate Health Education Pensions & Labor Committee, which held DeVos's nomination hearing, at which she demonstrated minimal understanding of bedrock education issues and offered only weak support for public schools. Murkowski noted that she had received "thousands, truly thousands, of Alaskans who shared their concerns about Mrs. DeVos as secretary of education." But the GOP is still in a position to prevail, because Senator Jeff Sessions (R-AL) is hanging on to his seat and voting, rather than proceeding with his own vote to be Trump's attorney general, or recusing, and that could get them to 50 votes for DeVos.  Vice President Pence could then break the tie. Democrats are fighting. "Just one more Republican, that's all we need," Senator Elizabeth Warren (D-MA), stressed on the floor this afternoon.  "Citizens... are outraged by this nomination." Former White House government ethics lawyers Norman Eisen (Obama) and Richard Painter (George W. Bush) today offered another emphatic argument against DeVos: "Seldom have we seen a worse cabinet-level ethics mess than that presented by Betsy DeVos... Her extensive financial holdings present significant--and unresolved--conflict of interest issues. She also failed to provide the Senate with accurate information about her involvement with outside organizations. We have regretfully come to the conclusion that these concerns disqualify DeVos for that cabinet position." But there is a well-financed effort to force DeVos, a major donor to GOP and conservative causes, into office over all this the opposition. It includes new TV ads from the right-wing Club for Growth, pressuring red-state Democratic senators Heidi Heitkamp (ND) and Joe Manchin (WV). Another operation pushing for DeVos is the well-established conservative think tank the American Enterprise Institute (AEI). In pieces published on the AEI website on in December and January, AEI's Director of Education Policy Studies, Frederick Hess, railed against the tone of attacks on DeVos. He also included an important disclosure: That DeVos was a member of the AEI Board of Trustees. This morning, AEI published a new piece, this time by Jason Delisle, a resident fellow there. This time there is no disclosure of DeVos's association with AEI. The think tank no longer lists her as a board member. But readers might still want to know that she was a donor and on the AEI board until last month. Worse, the Delisle essay, seeking to vindicate the hapless DeVos, purports to tick off a series of alleged Obama Education Department missteps, which Delisle concludes add up to "less-than-elegant higher education policymaking." But Deslisle's narrative is misleading on multiple fronts. One blatant example is Delisle's attack on the Obama Administration's effort to enact the gainful employment rule, a measure aimed at protecting working Americans -- veterans, single mothers, and others -- from predatory career college training programs that leave many students worse off financially than when they started. The Obama Administration implemented this rule in the face of eight years of resistance from the wealthy for-profit college industry and its impressive array of Washington lobbyists. But based on Delisle's account, one would think the rule was dead: "Midway through President Obama's first term, the Department of Education launched an effort to clarify a law governing which for-profit colleges could receive federal student aid. According to statute, programs at proprietary schools are supposed to provide credentials to students that ultimately lead to "gainful employment," but those terms were never explicitly defined. In response, the Obama administration developed a complicated, multi-pronged regulation that defined gainful employment largely around students' debt-to-income ratios after leaving school." "There was one big problem: The administration did not take the time to research an appropriate debt-to-income ratio or develop a defensible rationale for what would signal gainful employment. Instead, they simply picked a threshold that would disqualify 25% of programs at for-profit colleges. In other words, the administration started with the goal of shutting down one in four programs and worked backwards to set its standard. There are laws against arbitrary regulations like that, and a judge issued an embarrassing rebuke to the Obama administration." Delisle then pastes in a quote from that judicial opinion, which was issued by U.S. District Judge Rudolph Contreras in July 2012. Delisle's discussion of the gainful employment rule is deceptive. Judge Contreras did void the initial rule, finding that the Administration had failed to provide an adequate rationale for one component, but he upheld several aspects of it. More importantly, the Obama Administration promptly engaged in a second rule-making process, which produced a 2014 final rule that was then upheld by two federal district court judges and by a unanimous panel of the US Court of Appeals for the District of Columbia Circuit. The rule is now in effect. It penalizes some career college programs that -- because they are overpriced and sometimes of poor quality -- consistently leave graduates with debt they cannot afford to repay. The rule thereby helps protect both students and taxpayers from predatory abuses, especially at for-profit colleges, who represent 98 percent of the programs that flunked the first round of the test. This AEI paper omits this important information. By the way, instead of mocking this effort, AEI should be in favor of a rule that fights waste, fraud, and abuse with taxpayer dollars; many for-profit schools get 90 percent or more of their revenue from the US government. As the appeals court wrote: "It would be a perverse system that, by design, wasted taxpayer money in order to impose crippling, credit-destroying debt on lower-income students and graduates." A guy on Twitter responded to my early-morning tweet on this point: "did you read article? He was describing the blunders. Even Obama would agree 1st GE attempt was a blunder." But AEI's description of what happened with gainful employment was like ending a discussion of last night's Super Bowl with Atlanta leading 28-3 and calling the game a blunder by the Patriots. Delisle's invocation of gainful employment to defend DeVos is appropriate in another sense, however: Amid a series of vague answers at her hearing, DeVos provided relative clarity on one point -- she cast strong doubt on the appropriateness of the gainful employment rule, adding to the clues that the Trump Administration is planning to dump the regulation. DeVos's partner in dismantling accountability measures for colleges, apparently, would be Jerry Falwell, Jr., the president of Liberty University. Falwell says he will lead a new a new Trump task force, whose mandate will include rolling back regulations on colleges. Allowing Falwell to shape accountability measures governing schools like Liberty would be like the fox guarding the henhouse, and the same kinds of concerns apply to DeVos, who has been an investor in a range of for-profit education companies. Salivating over the prospect of pleasing their wealthy donors in the for-profit college industry, Republicans in Congress are moving ahead with efforts to block the gainful employment rule, ignoring the pleas of advocates for students, including the numerous veterans groups who reaffirmed in a letter last week that they want to protect this rule and other accountability measures. Most of the opposition to DeVos is focused on her views and lack of knowledge regarding K-12 education.  But AEI's deceptive defense of the nominee is a good reminder that there also is much at stake on the issue of accountability for the predatory colleges who have abused students, ripped off taxpayers -- and corrupted policy debate in Washington. This article also appears on Republic Report. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

03 февраля, 04:23

Will DeVos be a weakened education secretary?

Her bruising confirmation battle could hamper the effort to build support for the president's $20 billion school choice plan.

01 февраля, 16:29

ConocoPhillips (COP) Rewards Investors with Dividend Hike

ConocoPhillips (COP) declared that its board of directors has approved an increase in its quarterly dividend.

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01 февраля, 11:06

Germany arrests Tunisian asylum-seeker linked to Tunis museum attack

WIESBADEN, Germany/BERLIN (Reuters) - A 36-year-old Tunisian asylum-seeker arrested on Wednesday on suspicion of planning an Islamist attack in Germany is also wanted in his homeland over a deadly 2015 assault on a Tunis museum favored by Western tourists, German officials said.

01 февраля, 01:27

Oil & Gas Stock Roundup: Chevron, Baker Hughes' Q4; Valero's Dividend Hike and More

It was a week where oil prices tallied a small loss, while natural gas futures booked a handsome gain.

29 января, 11:11

Неизвестные документы Нюрнбергского трибунала. Часть 3. Третий аффидевит Гауса?

В предыдущих публикациях "Первый аффидевит Гауса" и "Второй аффидевит Гауса" подробно разобраны показания под присягой, данные Фридрихом Гаусом в ходе Нюрнбергского процесса 15 марта и 11 апреля 1946г. Как в советских (российских), так и в зарубежных исторических изданиях ни о каких других аффидевитах Гауса в ходе данного судебного процесса никогда ничего не говорилось. Но интересный документ нашелся в российском архиве.

29 января, 06:00

Неизвестные документы Нюрнбергского трибунала. Часть 3. Третий аффидевит Гауса?

В предыдущих публикациях "Первый аффидевит Гауса" и "Второй аффидевит Гауса" подробно разобраны показания под присягой, данные Фридрихом Гаусом в ходе Нюрнбергского процесса 15 марта и 11 апреля 1946г. Как в советских (российских), так и в зарубежных исторических изданиях ни о каких других аффидевитах Гауса в ходе данного судебного процесса никогда ничего не говорилось. Но интересный документ нашелся в российском архиве.

28 января, 09:43

Неизвестные документы Нюрнбергского трибунала

В публикации "Первый аффидевит Гауса" мы остановились на том, что Международный военный трибунал приобщил первый аффидевит Гауса от 15.03.1946 к материалам дела, но отказался рассматривать вопрос о секретном протоколе, в виду отсутствия у суда текста самого протокола. Однако доктору Зайдлю "улыбнулась удача".

28 января, 06:47

Неизвестные документы Нюрнбергского трибунала. Часть 2. Второй аффидевит Гауса

В публикации "Первый аффидевит Гауса" мы остановились на том, что Международный военный трибунал приобщил первый аффидевит Гауса от 15.03.1946 к материалам дела, но отказался рассматривать вопрос о секретном протоколе, в виду отсутствия у суда текста самого протокола. Однако доктору Зайдлю "улыбнулась удача".

27 января, 02:44

Libya Returns Oil Output To 700,000 Bpd After Crude Substation Fire

Libya has restored oil production to around 700,000 barrels per day after losing 60,000 barrels per day to a technical malfunction at the Sarir oilfield over the weekend. "We have made some repairs, our workers made some modifications, so now we are back to production," NOC Chairman Mustafa Sanalla was quoted as saying. Libyan oil production prior to the incident at the substation was around 700,000 barrels per day at the start of January. Libya is seeking to raise production to 900,000 barrels per day in next few months, and 1 million barrels…

27 января, 02:31

Baker Hughes: International Capex To Increase Only If Oil Rises Above $65

As Baker Hughes (NYSE:BHI) booked a fourth-quarter loss much wider than analysts had expected, the oilfield services group said on Thursday that it expects companies to increase spending outside North America only if oil prices rise above US$65 per barrel. Baker Hughes reported today an adjusted net loss of US$126 million for the fourth quarter, or US$0.30 per diluted share, compared with a loss of US$0.21 per diluted share for the fourth quarter of 2015. The loss was much wider than the Zacks Consensus Estimate of a loss of US$0.12. Fourth-quarter…

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26 января, 19:01

Hess writes down Equus development off Western Australia

US company Hess Corp. has decided to write down the full value of the proposed Equus gas-condensate development off Western Australia by $933 million (Aus.). The project has come off the boil because of the downturn in world oil prices and the high capital costs of development in Australia.

26 января, 02:29

Lebanon Re-opens First Oil & Gas Licensing Bidding Round

After passing key legislation to advance its stalled oil and gas licensing tenders, Lebanon opened on Thursday five offshore blocks up for bidding, re-launching the first licensing round after three years of political impasse. The evaluation of the bids and the signature of exploration and production agreements (EPAs) will follow as of 15 November this year, the Lebanese Petroleum Administration said in an update on the first licensing round. In early January, the new Lebanese government adopted two landmark decrees to define oil and gas exploration…

26 января, 02:29

Iraq Expands Oil Export Terminal

Iraq’s South Oil Company announced it had started work on the expansion of its Khor al-Amaya oil export terminal, aiming for a daily capacity of 1.2 million barrels. The goal is to make it possible for 1-million-barrel Suezmax tankers to load at the terminal, a spokesman for SOC said, as quoted by Reuters. This would be double on the port’s current capacity. Expansion works should finish by June, suggesting that Iraq, like Saudi Arabia, does not believe an extension of the OPEC production cut agreement will be necessary. While the negotiations…

26 января, 01:53

Hess Corporation Posts Lower-Than-Expected Q4 Loss

Hess Corporation (NYSE:HES) beat analyst estimates, reporting on Wednesday a fourth-quarter adjusted net loss of US$305 million, down from a US$396-million loss for the fourth quarter of 2015, on the back of higher realized crude selling prices and improved total production unit costs. The US$305-million adjusted net loss translates into a loss of US$1.01 per common share, compared with a US$1.40-loss per common share in the fourth quarter of 2015. The Zacks Consensus Estimate had expected Hess’ loss to be US$1.09 per share. Including a non-cash…