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Dozens of companies land Nigerian <b>crude oil</b> contracts

More than 30 companies land contracts for Nigerian crude oil, with transparency touted as a reason for the success. Photo by vanhurck/Shutterstock.The post Dozens of companies land Nigerian <b>crude oil</b> contracts appeared first on crude…


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Trump Slams “Schumer Clowns” – “Dems Own Failed Obamacare Disaster”

In an effort to front-run any plans to suggest further problems in US healthcare are due to Republican/Trump meddling, the president-elect tweeted the narrative that should be well understood when it comes to President Obama’s legacy…

Republicans must be careful in that the Dems own the failed ObamaCare disaster, with its poor coverage and massive premium increases……

— Donald J. Trump (@realDonaldTrump) January 4, 2017

like the 116% hike in Arizona. Also, deductibles are so high that it is practically useless. Don’t let the Schumer clowns out of this web…

— Donald J. Trump (@realDonaldTrump) January 4, 2017

This follows yesterday’s initiation of the process to repeal Obamacare and Chuck Schumer’s comments that “GOP will regret making Obamacare repeal the opening issues.”

 

The post Trump Slams “Schumer Clowns” – “Dems Own Failed Obamacare Disaster” appeared first on crude-oil.top.


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Trump Slams “Schumer Clowns” – “Dems Own Failed Obamacare Disaster”

In an effort to front-run any plans to suggest further problems in US healthcare are due to Republican/Trump meddling, the president-elect tweeted the narrative that should be well understood when it comes to President Obama’s legacy…

Republicans must be careful in that the Dems own the failed ObamaCare disaster, with its poor coverage and massive premium increases……

— Donald J. Trump (@realDonaldTrump) January 4, 2017

like the 116% hike in Arizona. Also, deductibles are so high that it is practically useless. Don’t let the Schumer clowns out of this web…

— Donald J. Trump (@realDonaldTrump) January 4, 2017

This follows yesterday’s initiation of the process to repeal Obamacare and Chuck Schumer’s comments that “GOP will regret making Obamacare repeal the opening issues.”

 

The post Trump Slams “Schumer Clowns” – “Dems Own Failed Obamacare Disaster” appeared first on crude-oil.top.


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LIRR Train Derails In Brooklyn; 32 People Injured – Live Feed

A LIRR train has derailed in the Atlantic and Flatbush Avenue area of Brooklyn, with initial reports suggesting 32 people were being treated for injuries. The derailment happened at the Atlantic Terminal according to NBC and WPIX11.

Pictures on twitter showed the derailment took place on track 6, and that the train was tipped slightly at an angle.

My #LIRR train crashed at #AtlanticTerminal in #Brooklyn. Crazy. Seems only a few people are lightly injured. pic.twitter.com/oXHvy2yxDL

— Aaron D. Neufeld (@Aaron_D_Neufeld) January 4, 2017

The platform also appeared to be smoky.

Photo shows damage after LIRR train crashes at Atlantic Terminal in Brooklyn. pic.twitter.com/3ZedJFdxHR

— NBC Nightly News (@NBCNightlyNews) January 4, 2017

As of 8:50 a.m. the MTA did not have any information on its website, NBC reported.

.@MTA LIRR train derailment: emergency personnel/traffic & transit delays/road closures near Atlantic Ave & Flatbush Ave, BK

— NYCEM – Notify NYC (@NotifyNYC) January 4, 2017

“I don’t know, all I remember is being on the floor,” one visibly shaken woman who had been on the train told NBC 4 New York between tears. Several people complained of neck and back injuries, though overall most wounds appeared minor.

Passengers described the train pulling into the station, followed by a crash and a loud boom, after which the train’s doors opened.

Live feed from NBC below

The post LIRR Train Derails In Brooklyn; 32 People Injured – Live Feed appeared first on crude-oil.top.


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LIRR Train Derails In Brooklyn; 32 People Injured – Live Feed

A LIRR train has derailed in the Atlantic and Flatbush Avenue area of Brooklyn, with initial reports suggesting 32 people were being treated for injuries. The derailment happened at the Atlantic Terminal according to NBC and WPIX11.

Pictures on twitter showed the derailment took place on track 6, and that the train was tipped slightly at an angle.

My #LIRR train crashed at #AtlanticTerminal in #Brooklyn. Crazy. Seems only a few people are lightly injured. pic.twitter.com/oXHvy2yxDL

— Aaron D. Neufeld (@Aaron_D_Neufeld) January 4, 2017

The platform also appeared to be smoky.

Photo shows damage after LIRR train crashes at Atlantic Terminal in Brooklyn. pic.twitter.com/3ZedJFdxHR

— NBC Nightly News (@NBCNightlyNews) January 4, 2017

As of 8:50 a.m. the MTA did not have any information on its website, NBC reported.

.@MTA LIRR train derailment: emergency personnel/traffic & transit delays/road closures near Atlantic Ave & Flatbush Ave, BK

— NYCEM – Notify NYC (@NotifyNYC) January 4, 2017

“I don’t know, all I remember is being on the floor,” one visibly shaken woman who had been on the train told NBC 4 New York between tears. Several people complained of neck and back injuries, though overall most wounds appeared minor.

Passengers described the train pulling into the station, followed by a crash and a loud boom, after which the train’s doors opened.

Live feed from NBC below

The post LIRR Train Derails In Brooklyn; 32 People Injured – Live Feed appeared first on crude-oil.top.


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Prosperity = Abundant Work + Low Cost Of Living

Submitted by Charles Hugh-Smith via OfTwoMinds blog,

An economy that only serves the prosperity of the protected top 5% is an economy doomed to rising inequality, stagnation and widespread social discontent.

If we seek a coherent context for the new year, we would do well to start with the foundations of widespread prosperity. While the economy is a vast, complex machine, the sources of widespread prosperity are not that complicated: abundant work and a low cost of living.

When work is abundant, there are opportunities for many skill levels, and employers must bid for the most productive, reliable workers. This supports wages and widespread employment.

When the cost of living is low, even low-wage households can not only get by but put a little aside if they are prudent and thrifty.

This may seem obvious, but the conditions required for work to be abundant and the cost of living to be low are not so obvious. For work to be abundant, it must be easy to start a business, easy to operate the new business, easy to make a profit so the business can survive the first few years and easy to hire employees.

All these factors require an environment of low-cost compliance with regulations, low tax rates, low costs of transactions, reasonable transport costs, reasonable cost of money (but not near-zero), reasonable availability of capital for small enterprises, local and national governments that actively seek to smooth the path of new enterprises and existing enterprises seeking to expand, and a transparent marketplace that isn’t dominated by politically dominant cartels and subservient-to-cartels government agencies.

This matters because the number one cause of the high cost of living is artificial scarcity created and maintained by monopolies, cartels, and the government that serves their interests. Artificial scarcity imposed by cartels and a servile state is the primary cause of soaring costs in a variety of sectors.

There are many factors that generate artificial scarcity: regulatory capture/ regulatory moats designed to protect cartels and monopolies from competition, a lack of affordable capital available to small enterprises, thickets of regulations that don’t really serve the public interest, educational institutions that don’t teach the fundamentals of entrepreneurism and how to start and operate a small business, and so on.

Real-world limits also impose costs. Energy costs are rising for a variety of structural reasons; the easy-to-extract oil has been extracted, the full lifecycle costs of alternative energy sources remain substantial (maintenance is not free for the 20 year lifespan of the windmill/solar array, for example) and so on.

Land for new housing is scarce in many cities, and that imposes scarcity costs as various entities compete for the scarce resource (land).

If we look at eras of widespread prosperity, we find that work is abundant, private enterprises and trade are vibrant, the currency is stable, the cost of doing business is low, inflation and the cost of living are low, so even low-wage households can slowly improve their lot.

This doesn’t just describe America in the 1950s and 1960s–it also describes the Tang Dynasty in 700 A.D. China and the Byzantine Empire in its heyday. These are the core dynamics of economies throughout history that generate and distribute widespread prosperity and opportunity.

Prosperity is limited to the few at the top when the cost of living soars. When wages for the bottom 95% stagnate while the cost of living (housing, healthcare, college, taxes, etc.) soars, the bottom 95% become poorer–though borrowing money masks this reality for a time.

Economies stagnate when the few at the top limit competition, not just for customers but for capital and political power. Economies designed to maintain an exploitive elite and its servile class of technocrat factotums become sclerotic and unproductive, as the unearned privileges of the few act as a crippling tax on the entire economy. (See Inequality and the Collapse of Privilege and Why Our Status Quo Failed and Is Beyond Reform for more on this.)

No wonder inequality is rising: the only possible output of an economy devoted to artificial scarcity and maintaining the privileges of the few at the expense of the many is rising inequality and stagnation.

We can do better, but only if we discern the systemic reasons why wages are stagnating, small business is in decline and the rich get richer while everyone else gets poorer.

An economy that only serves the prosperity of the protected top 5% is an economy doomed to rising inequality, stagnation and widespread social discontent:

The post Prosperity = Abundant Work + Low Cost Of Living appeared first on crude-oil.top.


No Picture

Prosperity = Abundant Work + Low Cost Of Living

Submitted by Charles Hugh-Smith via OfTwoMinds blog,

An economy that only serves the prosperity of the protected top 5% is an economy doomed to rising inequality, stagnation and widespread social discontent.

If we seek a coherent context for the new year, we would do well to start with the foundations of widespread prosperity. While the economy is a vast, complex machine, the sources of widespread prosperity are not that complicated: abundant work and a low cost of living.

When work is abundant, there are opportunities for many skill levels, and employers must bid for the most productive, reliable workers. This supports wages and widespread employment.

When the cost of living is low, even low-wage households can not only get by but put a little aside if they are prudent and thrifty.

This may seem obvious, but the conditions required for work to be abundant and the cost of living to be low are not so obvious. For work to be abundant, it must be easy to start a business, easy to operate the new business, easy to make a profit so the business can survive the first few years and easy to hire employees.

All these factors require an environment of low-cost compliance with regulations, low tax rates, low costs of transactions, reasonable transport costs, reasonable cost of money (but not near-zero), reasonable availability of capital for small enterprises, local and national governments that actively seek to smooth the path of new enterprises and existing enterprises seeking to expand, and a transparent marketplace that isn’t dominated by politically dominant cartels and subservient-to-cartels government agencies.

This matters because the number one cause of the high cost of living is artificial scarcity created and maintained by monopolies, cartels, and the government that serves their interests. Artificial scarcity imposed by cartels and a servile state is the primary cause of soaring costs in a variety of sectors.

There are many factors that generate artificial scarcity: regulatory capture/ regulatory moats designed to protect cartels and monopolies from competition, a lack of affordable capital available to small enterprises, thickets of regulations that don’t really serve the public interest, educational institutions that don’t teach the fundamentals of entrepreneurism and how to start and operate a small business, and so on.

Real-world limits also impose costs. Energy costs are rising for a variety of structural reasons; the easy-to-extract oil has been extracted, the full lifecycle costs of alternative energy sources remain substantial (maintenance is not free for the 20 year lifespan of the windmill/solar array, for example) and so on.

Land for new housing is scarce in many cities, and that imposes scarcity costs as various entities compete for the scarce resource (land).

If we look at eras of widespread prosperity, we find that work is abundant, private enterprises and trade are vibrant, the currency is stable, the cost of doing business is low, inflation and the cost of living are low, so even low-wage households can slowly improve their lot.

This doesn’t just describe America in the 1950s and 1960s–it also describes the Tang Dynasty in 700 A.D. China and the Byzantine Empire in its heyday. These are the core dynamics of economies throughout history that generate and distribute widespread prosperity and opportunity.

Prosperity is limited to the few at the top when the cost of living soars. When wages for the bottom 95% stagnate while the cost of living (housing, healthcare, college, taxes, etc.) soars, the bottom 95% become poorer–though borrowing money masks this reality for a time.

Economies stagnate when the few at the top limit competition, not just for customers but for capital and political power. Economies designed to maintain an exploitive elite and its servile class of technocrat factotums become sclerotic and unproductive, as the unearned privileges of the few act as a crippling tax on the entire economy. (See Inequality and the Collapse of Privilege and Why Our Status Quo Failed and Is Beyond Reform for more on this.)

No wonder inequality is rising: the only possible output of an economy devoted to artificial scarcity and maintaining the privileges of the few at the expense of the many is rising inequality and stagnation.

We can do better, but only if we discern the systemic reasons why wages are stagnating, small business is in decline and the rich get richer while everyone else gets poorer.

An economy that only serves the prosperity of the protected top 5% is an economy doomed to rising inequality, stagnation and widespread social discontent:

The post Prosperity = Abundant Work + Low Cost Of Living appeared first on crude-oil.top.


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Wikileaks Offers $20,000 Reward For Info On Obama Admin Destroying Records

WikiLeaks is offering a $20,000 reward to anyone who exposes the destruction of “significant records” by a member of the Obama administration. In a tweet on Tuesday evening, Wikileaks said “We are issuing a US$20,000 reward for information leading to the arrest or exposure of any Obama admin agent destroying significant records,” however, it has not explicitly alleged that the administration is suspected of inappropriately eradicating material.

We are issuing a US$20,000 reward for information leading to the arrest or exposure of any Obama admin agent destroying significant records. pic.twitter.com/kRRP246uGo

— WikiLeaks (@wikileaks) January 4, 2017

 

The surprising announcement may have been provoked by a previous tweeted in which Wikileaks hinted that the US government is quietly eradicating mentions of the organization from official statements: “‘WikiLeaks’ disappears from US govt statements. Compare 7 Oct  2016, vs 16 December, 2016 & December 29, 2016 JAR”

‘WikiLeaks’ disappears from US govt statements. Compare 7 Oct 2016, vs 16 December, 2016 & December 29, 2016 JAR https://t.co/4jtwXMrTw2 pic.twitter.com/ppDaAO88vj

— WikiLeaks (@wikileaks) January 3, 2017

 

Ten minutes prior to offering the reward, WikiLeaks urged any system administrator working under Obama to become whistleblowers: “System admins: Don’t let the White House destroy US history again! Copy now, then send to WikiLeaks at your leisure.”

System admins: Don’t let the White House destroy US history again! Copy now, then send to WikiLeaks at your leisure https://t.co/T4EtSSOKuy

— WikiLeaks (@wikileaks) January 4, 2017

Embedded in the tweet was a screenshot of a 2009 email sent from Principal Deputy Counsel for the Obama administration Daniel Meltzer to James Messina, then-White House deputy chief of staff. The mail discusses a query from the National Archives as to the whereabouts of a missing and believed stolen two terabyte drive containing electronic records from the Bill Clinton administration. The email was forwarded to Hillary Clinton by aide Cheryl Mills.

As RT adds, Republicans have also run into trouble over their lack of preservation of administration emails. The George W Bush administration lost millions of emails in the lead-up to the war in Iraq, claiming they had been accidentally mislabeled. The messages were later recovered. Federal Law calls for the preservation of presidential records, however personal records are exempt.

The tweets were issued just hours before the airing of the full Sean Hannity interview with Julian Assange, which is already the topic of at least two Trump tweets, as noted earlier. In the first tweet, Trump sided with Assange’s side of the story that Russia was not involved in the hacking of the DNC, as follows “Julian Assange said “a 14 year old could have hacked Podesta” – why was DNC so careless? Also said Russians did not give him the info!” In a follow up tweet, Trump quoted Assange in bashing the US press: “Julian Assange on U.S. media coverage: “It’s very dishonest.” pic.twitter.com/ADcPRQifH9” More dishonest than anyone knows.”

The post Wikileaks Offers $20,000 Reward For Info On Obama Admin Destroying Records appeared first on crude-oil.top.


No Picture

Wikileaks Offers $20,000 Reward For Info On Obama Admin Destroying Records

WikiLeaks is offering a $20,000 reward to anyone who exposes the destruction of “significant records” by a member of the Obama administration. In a tweet on Tuesday evening, Wikileaks said “We are issuing a US$20,000 reward for information leading to the arrest or exposure of any Obama admin agent destroying significant records,” however, it has not explicitly alleged that the administration is suspected of inappropriately eradicating material.

We are issuing a US$20,000 reward for information leading to the arrest or exposure of any Obama admin agent destroying significant records. pic.twitter.com/kRRP246uGo

— WikiLeaks (@wikileaks) January 4, 2017

 

The surprising announcement may have been provoked by a previous tweeted in which Wikileaks hinted that the US government is quietly eradicating mentions of the organization from official statements: “‘WikiLeaks’ disappears from US govt statements. Compare 7 Oct  2016, vs 16 December, 2016 & December 29, 2016 JAR”

‘WikiLeaks’ disappears from US govt statements. Compare 7 Oct 2016, vs 16 December, 2016 & December 29, 2016 JAR https://t.co/4jtwXMrTw2 pic.twitter.com/ppDaAO88vj

— WikiLeaks (@wikileaks) January 3, 2017

 

Ten minutes prior to offering the reward, WikiLeaks urged any system administrator working under Obama to become whistleblowers: “System admins: Don’t let the White House destroy US history again! Copy now, then send to WikiLeaks at your leisure.”

System admins: Don’t let the White House destroy US history again! Copy now, then send to WikiLeaks at your leisure https://t.co/T4EtSSOKuy

— WikiLeaks (@wikileaks) January 4, 2017

Embedded in the tweet was a screenshot of a 2009 email sent from Principal Deputy Counsel for the Obama administration Daniel Meltzer to James Messina, then-White House deputy chief of staff. The mail discusses a query from the National Archives as to the whereabouts of a missing and believed stolen two terabyte drive containing electronic records from the Bill Clinton administration. The email was forwarded to Hillary Clinton by aide Cheryl Mills.

As RT adds, Republicans have also run into trouble over their lack of preservation of administration emails. The George W Bush administration lost millions of emails in the lead-up to the war in Iraq, claiming they had been accidentally mislabeled. The messages were later recovered. Federal Law calls for the preservation of presidential records, however personal records are exempt.

The tweets were issued just hours before the airing of the full Sean Hannity interview with Julian Assange, which is already the topic of at least two Trump tweets, as noted earlier. In the first tweet, Trump sided with Assange’s side of the story that Russia was not involved in the hacking of the DNC, as follows “Julian Assange said “a 14 year old could have hacked Podesta” – why was DNC so careless? Also said Russians did not give him the info!” In a follow up tweet, Trump quoted Assange in bashing the US press: “Julian Assange on U.S. media coverage: “It’s very dishonest.” pic.twitter.com/ADcPRQifH9” More dishonest than anyone knows.”

The post Wikileaks Offers $20,000 Reward For Info On Obama Admin Destroying Records appeared first on crude-oil.top.


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Goldman-Affiliated Wall Street Lawyer Is Trump’s Top Candidate For SEC Chair

Donald Trump is preparing to appoint another Wall Street proxy to the top Wall Street regulation, supervision and enforcement post. 

According to the WSJ, Wall Street M&A and IPO lawyer, Jay Clayton, is Trump’s leading candidate to become chairman of the Securities and Exchange Commission and could be announced as the nominee as soon as Wednesday.

Clayton, who met with Mr. Trump on Dec. 22, is a partner at Sullivan & Cromwell LLP, where he also worked on the 2014 IPO of Alibaba Group. His clients have included Goldman Sachs and Barclays Capital; he would succeed SEC Chairman Mary Jo White, another lawyer with a history of representing Wall Street banks before becoming a regulator. Clayton has spent his career working on the kinds of securities deals that the SEC has a hand in regulating.

Among his various listed deals are the following:

  • Ally Financial Inc. in the $4.2 billion sale of its operations in Europe and Latin America to General Motors (GM), as well as in the $4.1 billion sale of its Canadian auto finance business to the Royal Bank of
  • Barclays Capital in connection with its purchase of assets of Lehman Brothers out of bankruptcy
  • Goldman Sachs in connection with the investment of $5 billion by Berkshire Hathaway and the U.S. Treasury’s TARP Investment
  • Bear Stearns in connection with the sale of Bear Stearns to JPMorgan Chase and related matters
  • Goldman Sachs and affiliated funds in connection with various acquisitions and investments in companies involved in financial services, banking, telecom and other industries
  • Initial public offering of $25 billion by Alibaba Group Holding Limited
  • Initial public offering of $190 million by Moelis & Company
  • Initial public offering of $2.375 billion by Ally Financial and private placements of $3 billion and $1.3 billion of common stock in Ally Financial
  • Initial public offering of $230 million by Blackhawk Network Holdings
  • Initial public offering and multiple public and private offerings of equity, preferred and debt securities of Capital Product Partners L.P.
  • Initial public offering of $380 million by Oaktree Capital Group

As noted in the list above, Clayton represented Goldman when it received a $5 billion investment from billionaire Warren Buffett’s company during the peak of the credit crisis in September 2008. He’s also represented Goldman in connection with other investments and acquisitions, according to the law firm. Sullivan is a key outside legal adviser for Goldman and is more closely associated with Wall Street than perhaps any other law firm.

Clayton has a wide-ranging corporate practice spanning mergers and acquisitions, IPOs, corporate governance, and investment advice for high-net-worth families. Other matters that Mr. Clayton has worked on include advising Morgan Stanley on the sale of its physical oil-trading division and Bear Stearns on its sale to J.P. Morgan Chase & Co.—two deals shaped heavily by the financial crisis and its aftermath—and the 2014 IPO of Moelis & Co., a boutique advisory firm. He’s also represented an ownership group for the Atlanta Hawks and British Airways in its 2010 merger with Iberia.

Clayton would become the latest Trump appointee with longstanding Wall Street ties, joining former Goldman executive Steven Mnuchin, Mr. Trump’s choice for Treasury secretary; former Goldman President Gary Cohn, who will run the National Economic Council; and private-equity investor Wilbur Ross, the pick to head the Commerce Department.

As the WSJ notes, Clayton would take over the SEC at a time when congressional Republicans are pressuring the agency to loosen fundraising rules for smaller public companies, lighten its oversight of private-equity firms, and repeal executive-compensation rules opposed by corporations. He would be one of at least three new members to join the SEC this year. The agency has two unfilled commissioner posts in addition to the chairman’s role, which Ms. White will give up on Jan. 20.

The post Goldman-Affiliated Wall Street Lawyer Is Trump’s Top Candidate For SEC Chair appeared first on crude-oil.top.