Texas

Chevron agreed to pay $33 billion for Anadarko Petroleum on Friday, broadening its access to the largest oil region in the continental U.S. as President Trump pushes the country to produce enough fuel to meet its own energy needs.

The deal, which offers Anadarko investors $65 a share in cash and stock, expands Chevron’s oil production in the Permian Basin, the oil-rich swath of land in western Texas and southeastern New Mexico that’s 250 miles wide and about 300 miles long, as well as deepwater drilling in the Gulf of Mexico.

“We intend to accelerate activity in Anadarko’s Permian acreage,” Chevron CEO Michael Wirth, who hopes to complete the deal by the end of this year, told investors on Friday. “Getting more out of the Permian sooner is an important value driver.”

For the San Ramon, Calif.-based company, which already controlled 2.2 million acres in the region and is adding 589,000 with the transaction, the driver isn’t “getting bigger in the Permian, it’s about getting better,” Wirth said. That includes the the area’s Delaware Basin, where Anadarko has operations.

Late last year, the U.S. Geological Survey identified an estimated 46 billion barrels of oil in two formations in the Delaware Basin, a development that left then-Interior Secretary Ryan Zinke confident “that American energy dominance is within our grasp.”

The U.S. is the world’s largest oil producer, outpacing both Russia and Saudi Arabia, thanks largely to technological advances that let producers extract oil from shale formations.

Achieving energy independence was one of Trump’s signature campaign promises in 2016, a commitment based on concern that U.S. reliance on oil imports left the country more vulnerable and cost American jobs.

“We’re ending the theft of American prosperity and rebuilding our beloved country,” Trump said when he signed an executive order prompting energy independence just two months after taking office. “We will unlock job-producing natural gas, oil and shale energy.”

Anadarko climbed 33 percent to $62.20 after the sale was announced Friday. Chevron, which has a market value of $232.9 billion, has climbed 10 percent this year to $119.76.

Some of President Donald Trump’s top national security advisers have discussed whether the military could be used to build tent city detention camps for migrants, NBC News is reporting.

The network news, attributing its information to three unnamed officials, said the discussion took place at the White House Tuesday night.

The discussion also dealt with whether the military could actually be used to run the camps once the migrants are housed there. But the NBC News sources say that was unlikely since the law prohibits the military from interacting with migrants.

Acting Defense Secretary Patrick Shanahan, who attended the meeting, was open to sending more troops to the border provided their duties were within the law, the officials told NBC News.

Right now, troops are currently at the southern border and are mainly used for reinforcing fencing with barbed wire, according to the network news.

During the meeting, other potential new projects were discussed, including assessing land for construction of new tent cities in El Paso and Donna, Texas. The military would also be used for assessments before the construction of a processing center in El Paso.

Meanwhile, a border patrol official told NBC News that the military allows for faster construction than private contractors, who can slow down the process. “The importance of (the Department of Defense) is that they are able to mobilize quickly because we face an immediate crisis now,” said the border patrol official.

Source: NewsMax

Thousands of Twitter accounts known as “bots” targeted Bernie Sanders supporters to rally support for the Trump campaign in the 2016 presidential election after Sanders’ loss to Hillary Clinton for the Democratic primary.

Researchers at Clemson University collaborated with the Washington Post on a report that found tens of thousands of tweets sent from bot accounts controlled by Russian agents drew parallels between the populist, working-class messages of the Trump campaign and that of Sanders, the independent senator from Vermont.

“#BlackMenForBernie Leader Switches to Trump! I will Never Vote for Hillary, Welcome aboard the Trump Train,” said one tweet sent by a Russian bot. The account described itself as a “Southern., Conservative Pro God, Anti Racism” Twitter user from Texas.

Another Russian bot, called “Red Louisiana News,” tweeted: “Conscious Bernie Sanders supporters already moving towards the best candidate Trump! #Feel the Bern #Vote Trump 2016.”

In an effort to have Sanders’ supporters defect from Clinton’s Democratic Party, the bots also highlighted questionable tactics Sanders’ supporters claimed took place in order to rig the Democratic nomination process for Clinton.

“I think there is no question that Sanders was central to their strategy. He was clearly used as a mechanism to decrease voter turnout for Hillary Clinton,” said Darren Linvill, researcher and Clemson University associate professor of communications.

The analyzed tweets “give us a much clearer understanding of the tactics they were using. It was certainly a higher volume than people thought.”

Nearly 12% of voters who supported Sanders in the Democratic primary crossed party lines and voted for Trump in the general election, according to a post-election survey by NPR. The numbers are particularly stark in light of Trump’s upsets in Michigan, Wisconsin, and Pennsylvania, which clinched the election for him.

Last month, Attorney General William Barr sent a letter to the leaders of the Senate and House Judiciary committees, briefing them of the “principal conclusions” in Mueller’s Russia investigation. The summary said the special counsel did not find evidence of collusion between the Trump campaign and Russia.

FILE PHOTO: Pedestrians are reflected on an electronic board showing stock prices outside a brokerage in Tokyo
FILE PHOTO: Pedestrians are reflected on an electronic board showing stock prices outside a brokerage in Tokyo, Japan December 27, 2018. REUTERS/Kim Kyung-Hoon

April 12, 2019

By Herbert Lash

NEW YORK (Reuters) – Global stock markets rose on Friday after JP Morgan’s results kicked off the U.S. corporate earnings season in style, while signs of stabilization in China’s economy also helped riskier assets on views the growth outlook worldwide is better than thought.

Chinese data showed exports rebounded last month, driving U.S. and euro zone bond yields to three-week highs and helping offset weaker imports and reports of another cut in German growth forecasts.

Investors are looking for signs of a Chinese economic recovery to temper global growth worries, especially after the International Monetary Fund this week downgraded its 2019 world economic outlook for the third time.

China’s trade results, as well as credit data, have helped boost risk appetite and reinforce the stabilization thesis, which should have spill-over effects for the global economy, said Candice Bangsund, a portfolio manager with the global asset allocation team at Fiera Capital in Montreal.

“The whole China situation really appears to be gaining some ground,” Bangsund said. “We saw a very impressive rebound in exports, this of course is helping alleviate fears of a hard landing.”

MSCI’s gauge of equity market performance in 47 countries gained 0.37%, while the EURO STOXX 50 index rose 0.31%.

On Wall Street, the Dow Jones Industrial Average rose 186.88 points, or 0.71%, to 26,329.93. The S&P 500 gained 12.47 points, or 0.43%, to 2,900.79 and the Nasdaq Composite added 19.07 points, or 0.24%, to 7,966.43

The euro gained despite the German growth concerns. Dealers were gearing up for demand from Japan as Mitsubishi UFJ Financial closed in on its multi-billion-euro acquisition of DZ Bank’s aviation-finance business.

The dollar index fell 0.37%, with the euro up 0.56% to $1.1313. The Japanese yen weakened 0.28% versus the greenback at 111.99 per dollar.7

Euro zone and U.S. government debt yields rose after the rebound in Chinese exports.

Yields on Germany’s 10-year government bond crossed into positive territory, to 0.054%.

Benchmark 10-year U.S. Treasury notes fell 13/32 in price to push up their yield to 2.5507%.

CRUDE OIL’S BIG 2019 START

Oil provided the big milestones. Brent was at $71.4 a barrel, having broken back through the $70 threshold this week, and U.S. WTI was heading for a sixth straight week of gains for the first time since early 2016.

Involuntary supply cuts in Venezuela, Libya and Iran have supported perceptions of a tightening market, already constrained by production cuts from OPEC and its allies.

Brent crude oil futures rose 64 cents to $71.47 a barrel while West Texas Intermediate crude futures, the U.S. benchmark, added 64 to $64.22.

Commodities have had the best first-quarter start ever, Bank of America Merrill Lynch analysts said, calling the annualized returns they are tracking the strongest in the past 100 years.

Taking advantage of strong prices and subdued valuations for oil producers, Chevron said it will buy Anadarko Petroleum Corp for $33 billion in cash and stock.

Gold steadied en route to its first weekly gain in three weeks as the dollar weakened, although the metal’s advances were capped by stronger equities.

Gold crept higher after falling more than 1 percent on Thursday to break below $1,300 following solid U.S. data. Spot gold traded at $1,292.41 per ounce.

For a graphic on Falling volatility, see – https://tmsnrt.rs/2X40O8U

(Reporting by Herbert Lash; Editing by Dan Grebler)

Source: OANN

Georgetown University students overwhelmingly voted to increase their tuition to pay reparations to the descendants of slaves once owned by the school. The move comes as reparations are increasingly being discussed on the campaign trail for the 2020 Democratic presidential nomination.

The Georgetown University Student Association held the referendum this week, with students supporting the measure by a two-to-one margin. The fee would increase tuition at the nation’s oldest Catholic university by nearly $28 per semester for every student. The money would go into a fund for descendants of the 272 slaves the Jesuits sold in 1838 to keep the deeply indebted university open.

The vote is not binding, however. University leadership will make the final decision on whether to implement a mandatory fee for reparations.

“There are many approaches that enable our community to respond to the legacies of slavery,” Todd Olson, vice president for student affairs, said in a statement. “This student referendum provides valuable insight into student perspectives and will help guide our continued engagement with students, faculty and staff, members of the Descendant community, and the Society of Jesus.”

Reparations have become a topic of debate in the race for the Democratic nomination for president. At least four White House hopefuls — Obama-era housing secretary Julián Castro, California Sen. Kamala Harris, Massachusetts Sen. Elizabeth Warren, and former Texas Rep. Beto O’Rourke — support payments to descendants of slaves. New Jersey Sen. Cory Booker has ripped into his opponents for not doing enough to make reparations a reality.

Independent Vermont Sen. Bernie Sanders disagrees with the idea, however, saying that he would rather focus on the economic inequality that puts African Americans at a disadvantage.


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