Tag Archives: Royal Dutch Shell

10 things you need to know today: January 2, 2013

I had some internet connectivity problems over the holidays and had to wait until today for my provider’s tech to come out and resolve it.  Once again, Happy New Year everyone.

The Week

The House passes the fiscal-cliff deal, Sandy Hook students return to class, and more in our roundup of the stories that are making news and driving opinion

1. HOUSE PASSES FISCAL-CLIFF DEAL
In a dramatic conclusion of the fiscal-cliff showdown, the House approved a deal late Tuesday canceling tax increases for the vast majority of Americans and pushing off $100 billion in potentially damaging spending cuts for two months. The bill now goes to President Obama for his signature, ending the threat of potentially recession-inducing spending cuts and tax hikes before financial markets opened for the first day of trading in the new year. House Republicans allowed the bill to come up for a vote without any poison-pill spending-cut amendments — a strategy proposed by House Majority Leader Eric Cantor (R-Va.) and other conservatives. Most Senate Republicans backed the compromise, but a majority of House Republicans voted “no,” as many were angered that the compromise lets income tax rates rise on wages and investment profits for households making more than $450,000 a year — the first tax hike passed with broad GOP support in two decades.  [Washington Post]
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2. SANDY HOOK CLASSES RESUMING
The students and teachers of Sandy Hook Elementary are preparing to return to school on Thursday for the first time since a gunman killed 20 first graders and six educators — after, police say, he killed his own mother at home — in a shooting rampage three weeks ago. “I’m nervous about it,” parent David Connors said. “It’s uncharted waters for us. I know it’s going to be difficult.” The classes won’t be at the Newtown, Conn., school where the tragedy occurred, though. The students’ desks and belongings have been moved to a repurposed former middle school in the neighboring town of Monroe. An open house is scheduled for Wednesday so the children, along with their parents and teachers, can get accustomed to new classrooms set up to mirror the ones at Sandy Hook. [Associated Press]
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3. GANG-RAPE VICTIM’S ASHES SCATTERED IN INDIA
Mourners on Tuesday scattered the ashes of a 23-year-old Indian woman who died after being gang-raped and tortured with a metal bar by a group of men on a private bus in New Delhi on Dec. 16. The woman, a student, died of her horrific injuries on Saturday in a Singapore hospital. Police are preparing to file formal charges against six suspects. Protests over rampant sexual violence against women have erupted across India, prompting promises from the government to impose tougher punishments for rapists. As part of a campaign to change society’s treatment of women, India’s top court said Wednesday that it would decide whether tosuspend six lawmakers facing sexual assault charges. [Reuters]
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4. GROUNDED OIL-DRILLING SHIP NOT LEAKING
High seas have prevented rescuers from pulling a grounded oil-drilling rig back to sea in the Gulf of Alaska, but the Coast Guard says there’s no sign that the ship is leaking any of its 143,000 gallons of diesel or 12,000 gallons of lube oil and hydraulic fluid. The Royal Dutch Shell drilling rig — the Kulluk — was used this summer in the Arctic. It ran aground off a small island near Kodiak Island in a severe storm that hit as it was being towed to port. Rep. Ed Markey (D-Mass.), the top Democrat on the House Natural Resources Committee, said the crisis shows the potential for environmental disaster from Alaskan drilling. “Oil companies keep saying they can conquer the Arctic,” he said, “but the Arctic keeps disagreeing with the oil companies.” [Associated Press]
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5. EUROZONE ECONOMY WEAKENS FURTHER
Manufacturing output in the eurozone continued to shrink in December, according to a poll of manufacturing purchasing managers released by data company Markit on Wednesday. The figures add to a growing pile of evidence that the currency bloc’s “steep downturn” continued in the final quarter of 2012, and will probably continue in early 2013, says Markit’s chief economist, Chris Williamson. “The region’s recession therefore looks likely to have deepened, possibly quite significantly, in the final quarter,” he says. [Wall Street Journal]
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6. EXPERTS SAY ENERGY DRINKS FAIL TO DELIVER
Energy drinks are soaring in popularity, in part because consumers, especially teenagers, are convinced they deliver a mental and physical edge. The beverages are being investigated by the Food and Drug Administration, however, following reports of deaths and injuries possibly linked to their high caffeine content. No matter what the FDA finds, researchers have concluded that popular energy drinks offer little if any benefit other than a jolt of caffeine. “If you had a cup of coffee you are going to affect metabolism in the same way,” says Dr. Robert W. Pettitt, an associate professor at Minnesota State University in Mankato. [New York Times]
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7. PAPARAZZO KILLED BY CAR AFTER CHASING JUSTIN BIEBER
A photographer was struck by a car and killed on Tuesday as he crossed a Los Angeles freeway after snapping pictures of pop star Justin Bieber’s white Ferrari. Highway Patrol officers had pulled over someone driving Bieber’s vehicle, although the teen idol was not in the car. The paparazzo parked his own car and crossed the street to take pictures, and was killed as he tried to return to his car. Bieber, who has been chased by speeding photographers in the past, expressed sympathy for the victim but said he hopes the tragedy inspires laws to prevent potentially dangerous paparazzi feeding frenzies. [CNN]
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8. PENNSYLVANIA GOVERNOR PLANS TO SUE NCAA OVER SANDUSKY SANCTIONS
Pennsylvania Gov. Tom Corbett is expected to file a lawsuit against the NCAA on Wednesday, accusing the college athletic association of imposing illegal sanctions against Pennsylvania State University over the Jerry Sandusky child sex-abuse scandal. Corbett’s office provided few details about his plan, but said it would provide more information at a Wednesday morning news conference. The National Collegiate Athletic Association hit Penn State with a $60 million fine, a reduction in player scholarships for the football program, and a four-year ban on post-season play after an investigation by former FBI director Louis Freeh concluded that university administrators covered up abuse allegations to protect Sandusky, once an assistant to Penn State’s legendary head coach, the late Joe Paterno. [Philadelphia Inquirer]
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9. AVIS TO BUY ZIPCAR
The Avis Budget Group said on Wednesday that it would buy Zipcar for $500 million. With its $12.25-per-share cash offer, Avis will pay a 49 percent premium over Zipcar’s stock price, a sign that Avis sees a big future for the car-sharing pioneer’s strategy of letting its 760,000 members rent vehicles by the hour or by the day. “We see car sharing as highly complementary to traditional car rental, with rapid growth potential,” Ronald L. Nelson, Avis’ chief executive, said in a statement. [New York Times]
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10. SOME IPHONE USERS GET A LATE START IN 2013
Apple is launching a new ad on Wednesday promoting the iPhone’s “Do Not Disturb” feature, but the company’s timing could have been better. Some iPhone users are complaining that a bug in the function surfaced as 2013 began, causing it to fail to turn off when it was scheduled to, sending their calls to voicemail when their phones should be ringing, and causing some people to miss calls. [Guardian]

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GRAPHIC: A Day In The Life Of Big Oil

With the money flowing in Washington from Big Oil lobbyists, no wonder politicians on both sides don’t want to discus alternative energy proposals…at all.  Although recent reports on a Koch funded  study on Global Warming may or may not rattle a few feathers in Washington.

Think Progress

Every hour so far in 2012, the five largest oil corporations have recorded a $14,400,000 profit. And every hour, they received more than $270,000 in federal tax breaks. That adds up to $2.4 billion in subsidies every year for the five largest oil corporations — Royal Dutch Shell, ExxonMobil, Chevron, BP, and ConocoPhillips — all ranked as the top 9 companies in the world.

Even though BP posted an unexpected second-quarter loss, these five companies are on track to meet last year’s record profits. Put these numbers into context, and they are not so “disappointing“: Big Oil profits more in one minute than what 96 percent of American households earn in one year. Even so, Mitt Romney and House Republicans want to double what the five companies receive in federal tax breaks to $12.8 million per day, even though the three publicly owned U.S. companies paid an average tax rate of under 17 percent.

The graphic below illustrates where Big Oil directs these profits and its pollution over the course of a day:

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Fmr. Shell president ‘predicting’ $5-a-gallon gas in 2012

In my opinion, this story seems to be a “planned leak” from the oil industry to prepare the average American for more of the same greed we’ve seen from the oil industry for years.

Raw Story

The former president of Shell Oil said he believes Americans could be paying $5 for a gallon a gas by 2012.

“I’m predicting actually the worst outcome over the next two years which takes us to 2012 with higher gasoline prices,” John Hofmeister said in a recent interview with Platts Energy Week television.

Tom Kloza, chief oil analyst with Oil Price Information Service, agreed that Americans would see $5 a gallon gas but told CNN that he did not believe it would happen in 2012. “That wolf is out there and it’s going to be at the door…I agree with him that we’ll see those numbers at some point this decade but not yet.”

“The demand is still sluggish enough in some of the mature economies,” he said.

Hofmeister also predicted that demand would outstrip supply before the end of the decade.

“When supplies run low and the demand is still high, many areas will start to run out, with gas stations having no supplies,” World News Insight observed. “Ultimately rationing could then come into force. We could be looking at a return to the 1970′s.”

Average gas prices rose higher than $3 last week for the first time since October 2008.

Consumers were paying 17 percent more than a year ago and seven percent more than just last month, according to AAA.

Hawaii has the highest average price in the nation at $3.636. California is next highest at $3.275.

For the first time since October 2008, the price of a barrel of crude closed above $90 Wednesday.

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Filed under Economy, Gasoline Prices

Web Ad: Pledging Allegiance To Secret Corporate Donors

Think Progress

After reading our ThinkProgress reports on the Chamber of Commerce’s secret corporate funding, an entrepreneurial fan of our blog passed us this web ad he conceived.

 

The Report

Last week, ThinkProgress published an exclusive story about the U.S. Chamber of Commerce’s foreign fundraising operation. We noted the Chamber raises money from foreign-owned businesses for its 501(c)(6) entity, the same account that finances its unprecedented $75 million dollar partisan attack ad campaign. While the Chamber is notoriously secretive, the thrust of our story involved the disclosure of fundraising documents U.S. Chamber staffers had been distributing to solicit foreign (even state-owned) companies to donate directly to the Chamber’s 501(c)(6).

We documented three different ways the Chamber fundraises from foreign corporations: (1) An internal fundraising program called “Business Councils” used to solicit direct, largely foreign contributions to the Chamber, (2) Direct contributions from foreign multinationals like BP, Siemens, and Shell Oil, and (3) From the Chamber’s network of AmCham affiliates, which are foreign chambers of the Chamber composed of American and foreign companies. The Chamber quickly acknowledged that it receives direct, foreign money, but simply replied, “We are not obligated to discuss our internal procedures.” Instead of providing any documentation or proof to demonstrate foreign money is not being used for electioneering purposes, the Chamber launched an aggressive media strategy to first, attack ThinkProgress with petty name-calling and second, to confuse the media by highlighting the Chamber’s relatively minor AmCham fundraising, which the Chamber says (also without documentation) totals “approximately $100,000” from all 115 international AmCham chapters. The Chamber and the media largely ignored ThinkProgress’ revelation about the Chamber’s direct foreign fundraising to its 501(c)(6) used for attack ads.

Yesterday, the Chamber’s chief lobbyist Bruce Josten, who has been spoon-feeding much of the media distortions about our report, went on Fox News (whose parent company donated $1 million to the Chamber recently for its ad campaign) to again try to dilute the issue by dissembling about the Chamber’s fundraising and membership. “We have probably 60 or so foreign multi-national companies in our membership that we have had for decades, many of which have been in the United States for half a century or a century,” said Josten.

The Chamber is being deceptive. In addition to multinational members of the Chamber headquartered abroad (like BP, Shell Oil, and Siemens), a new ThinkProgress investigation has identified at least 84 other foreign companies that actively donate to the Chamber’s 501(c)(6). Below is a chart detailing the annual dues foreign corporations have indicated that they give directly to the Chamber (using information that is publicly available from the Business Council applications and the Chamber’s own websites.)

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Filed under GOP Agenda, GOP Fundraising, GOP Hubris, GOP Obstructionism