Category: Wall Street

The Era Of Cheap Oil Has Come To An End

Tina Marie (Ms. Cat)

In its latest monthly report, OPEC revealed it had yet again failed to produce as much oil as it agreed to produce the last time it discussed output. And it wasn’t by a few thousand barrels per day, either. The shortfall was some 1.8 million barrels daily, but more importantly, that sort of undershooting of its own target has become a regular thing for the cartel. Meanwhile, the United States federal government needs to buy some oil for its strategic petroleum reserve after releasing close to 200 million barrels from it this year as a way of countering fuel price inflation. Yet U.S. drillers are not in a rush to boost production. On the contrary, it seems production growth has lost its place among these companies’ top priorities.

The Era Of Cheap Oil Has Come To An End

Previously:

U.S. Begins SPR Repurchase Program As Oil Prices Crash

Forget cannabis. Here are 2 banking provisions that did make the NDAA.

Tina Marie (Ms. Cat)

Forget cannabis. Here are 2 banking provisions that did make the NDAA.

Some banks have instituted policies making it easier for second-chance workers to get hired. JPMorgan Chase years ago removed all questions about criminal backgrounds from job applications and established a policy center to help former criminals find jobs.

It expanded its effort to help ex-offenders return to the workforce last year, partnering with nonprofits to connect people with arrest or conviction histories to in-demand jobs. CEO Jamie Dimon also agreed to co-chair the Second Chance Business Coalition encompassing 29 member companies.

The bank hired 4,300 people with criminal records last year, Nan Gibson, executive director for public policy and corporate responsibility at the JPMorgan Chase Policy Center, told American Banker. That’s more than double the bank’s 2,100 second-chance hires from 2020.

H/ T: Judge Napolitano

Related:

JPMorgan Chase, the Largest Federally-Insured Bank in the U.S. with Five Felony Counts, Says 10 Percent of its New Hires Last Year Had Criminal Histories

Pentagon Profiteers: Executive Compensation in the Arms Industry

Tina Marie (Ms. Cat)1 Comment

Pentagon Profiteers: Executive Compensation in the Arms Industry

Another way to understand the size of CEO compensation at the big contractors is to look at how many jobs would be created if that $287 million were spent on something else. The answer is that spending that money on productive activities would create thousands of jobs: 2,812 jobs in clean energy or infrastructure; 4,104 jobs in health care; and 4,362 in education, calculated using data on the jobs impact of government spending generated by Heidi Peltier for the Brown Costs of War Project.

Biden was elected to start a war with Russia

Tina Marie (Ms. Cat)

The ongoing US war against Russia has elevated American-allied Nazis to the international stage as ‘freedom fighters,’ resulted in the deaths of tens of thousands of Ukrainian civilians, raised the risk of nuclear war, ended any effective international cooperation on environmental issues through rekindling energy geopolitics, assured Europe of one or more Great Depression type winters with limited heating fuel, and more probably than not will soon produce the total annihilation of Ukraine as a modern state by the Russians.

The Americans Started the US War with Russia

Alzheimer’s latest drug and science journalism’s memory problem

Tina Marie (Ms. Cat)

In July, the medical community was rocked by a disappointing reminder of science’s weakest link: the humans doing the work. The journal Science had shared that its six-month investigation supported the findings of whistleblower Matthew Schrag, who first noted altered images in a high-impact paper on Alzheimer’s, published in Nature in 2006. That paper is still flagged on Nature as under review, but the damage has already been done. Alzheimer’s drugs for the last decade and a half have been developed around claims without as much evidence as initially believed—which might also explain why they haven’t been working, leading people to pour false hope into useless and often expensive treatment plans for declining loved ones.

Alzheimer’s latest drug and science journalism’s memory problem

Progressives Say Congress Must Raise Debt Limit Now to Protect Social Programs

Tina Marie (Ms. Cat)

Progressives Say Congress Must Raise Debt Limit Now to Protect Social Programs

The programs have long been targets of Republicans, despite the fact that Social Security is fully funded through 2035 and is able to pay for 90% of benefits for the next 25 years, even without Congress acting to expand it.

Related:

GOP’s Thune Sees Debt-Ceiling Hike as Vehicle for Budget Cuts

White House Knocks Thune’s Bid to Tie Debt Limit to Entitlements

Railroads Have Invested Heavily in Congress. They Need Their Payoff in the Senate.

Tina Marie (Ms. Cat)

A showdown over a looming railroad strike heads to the Senate floor this week, after a group of progressive Democrats, led by Rep. Jamaal Bowman, D-N.Y., pushed to modify a tentative agreement to include seven days of sick leave. The expanded agreement passed the House 220-206 on Wednesday, and the fight now moves to the Senate, where it remains unclear if there is enough Republican support to overcome a filibuster and send the agreement to President Joe Biden’s desk.

Railroads Have Invested Heavily in Congress. They Need Their Payoff in the Senate.

Related:

Why America’s Railroads Refuse to Give Their Workers Paid Leave

The answer, in short, is “P.S.R.” — or precision-scheduled railroading