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Author: John Hanno
Born and raised in Chicago, Illinois. Bogan High School. Worked in Alaska after the earthquake. Joined U.S. Army at 17. Sergeant, B Battery, 3rd Battalion, 84th Artillery, 7th Army. Member of 12 different unions, including 4 different locals of the I.B.E.W. Worked for fortune 50, 100 and 200 companies as an industrial electrician, electrical/electronic technician.
Conservative Judges Sound Alarm: Trump Will Shred Our Justice System
Ellie Quinlan Houghtaling – March 29, 2024
Donald Trump’s attacks on the judges and court staff overseeing his criminal trials have much deeper legal implications than petty fines. Instead, the attacks—and the responding “passivity, acquiescence, and submissiveness by the nation”—are actively undermining the entire judicial system, prominent conservative judges are warning.
In a CNN interview Thursday evening, Republican-appointed federal District Judge Reggie B. Walton felt compelled to announce that Trump’s continued attacks could result in “tyranny.” Just hours later, former Appeals Court Judge J. Michael Luttig, also a conservative, issued his own warning cry, declaring that Trump is responsible for the “dismantling” of the nation’s “system of justice.”
“The Nation is witnessing the determined delegitimization of both its Federal and State judiciaries and the systematic dismantling of its system of justice and Rule of Law by a single man—the former President of the United States,” started Luttig in a multipart thread on X.
“In the months ahead, the former president can only be expected to ramp up his unprecedented efforts to delegitimize the courts of the United States, the nation’s state courts, and America’s system of justice, through his vicious, disgraceful, and unforgivable attacks and threats on the Federal and State Judiciaries and the individual Judges of these courts.”
“Never in American history has any person, let alone a President of the United States, leveled such threatening attacks against the federal and state courts and federal and state judicial officers of the kind the former president has leveled continually now for years.”
Luttig also warned that Trump isn’t accomplishing the task alone. It’s the complicit Supreme Court—and the American people—that are letting Trump get away with it.
“It is the responsibility of the Supreme Court of the United States in the first instance to protect the federal courts, the federal judges, and all participants in the justice system from the reprehensible spectacle of the former president’s inexcusable, threatening attacks, just as it is the responsibility of the respective State Supreme Courts in the first instance to protect their courts and their state judges from the same,” he added. “Ultimately, however, it is the responsibility of the entire nation to protect its courts and judges, its Constitution, its Rule of Law, and America’s Democracy from vicious attack, threat, undermine, and deliberate delegitimization at the hands of anyone so determined.”
Here was Walton’s own dire warning:
Senior Judge Reggie Walton: “We do these jobs because we’re committed to the rule of law & we believe in the rule of law & the rule of law can only function effectively when we have judges who are prepared to carry out their duties without the threat of potential physical harm.” pic.twitter.com/V1GC7LVD2g
‘Humbling, and a bit worrying’: Scientists fail to fully explain record global heat
Hayley Smith – March 27, 2024
The sun sets over Huntington Beach at the end of a hot December day in 2023. (Luis Sinco / Los Angeles Times)
Deadly heat in the Southwest. Hot-tub temperatures in the Atlantic Ocean. Sweltering conditions in Europe, Asia and South America.
That 2023 was Earth’s hottest year on record was in some ways no surprise. For decades, scientists have been sounding the alarm about rapidly rising temperatures driven by humanity’s relentless burning of fossil fuels.
But last year’s sudden spike in global temperatures blew far beyond what statistical climate models had predicted, leading one noted climate scientist to warn that the world may be entering “uncharted territory.”
“It’s humbling, and a bit worrying, to admit that no year has confounded climate scientists’ predictive capabilities more than 2023 has,” wrote Gavin Schmidt, director of NASA’s Goddard Institute for Space Studies, in a recent article in the journal Nature.
Now, he and other researchers are scrambling to explain why 2023 was so anomalously hot. Many theories have been proposed, but “as yet, no combination of them has been able to reconcile our theories with what has happened,” Schmidt wrote.
Misters spray water on a young boy at Kauffman Stadium in Kansas City, Mo., as as temperatures approached 100 degrees in June 2023. (Charlie Riedel / Associated Press)
Last year’s global average temperature of 58.96 degrees Fahrenheit was about a third of a degree warmer than the previous hottest year in 2016, and about 2.67 degrees warmer than the late 1800s pre-industrial period against which global warming is measured.
While human-caused climate change and El Niño can account for much of that warming, Schmidt and other experts say the extra three or four tenths of a degree is harder to account for.
Theories for the increase include a 2020 change in aerosol shipping regulations designed to help improve air quality around ports and coastal areas, which may have had the unintended consequence of enabling more sunlight to reach the planet.
The 2022 eruption of the Hunga Tonga-Hunga Ha‘apai volcano also shot millions of tons of water vapor into the stratosphere, which scientists say helped to trap some heat. What’s more, a recent uptick in the 11-year solar cycle may have contributed about a tenth of a degree of additional warning.
But these factors alone cannot explain what’s happening, Schmidt said.
“Even after taking all plausible explanations into account, the divergence between expected and observed annual mean temperatures in 2023 remains about 0.2 °C — roughly the gap between the previous and current annual record,” he wrote in his report.
Heat ripples from hot asphalt in downtown Phoenix in July 2023. (Matt York / Associated Press)
Reached by phone, Schmidt said he thinks one of three things could be going on.
It’s possible that 2023 was a “blip” — a perfect storm of natural variables and Earth cycles lining up to create one freakishly hot year. Should that prove to be the case, “it won’t have huge implications for what we’re going to see in the future, because it would have been just such a rare and unlikely thing that is not going to happen again anytime soon,” he said.
However, he indicated that’s unlikely, as those elements “have never lined up to give us a blip this large.”
Another possibility is that scientists have misunderstood the driving forces of climate change. While greenhouse gases, volcanic eruptions and aerosols are known to affect global temperatures, perhaps the full extent of their effects have been underestimated or miscalibrated. Should that be the case, he said, research and data sets will hopefully catch up soon.
The last explanation he offered is that the system itself is changing — and changing in ways that are faster and less predictable than previously understood.
“That would be worrying because science is really all about taking information from the past, looking at what’s going on, and making predictions about the future,” Schmidt said. “If we can’t really trust the past, then we have no idea what’s going to happen.”
Not everyone agrees with his assessment, however. Michael Mann, a professor in the Department of Earth and Environmental Science at the University of Pennsylvania, said the premise that 2023’s warmth cannot be explained — or that it is inconsistent with model simulations — is “simply wrong.”
“The situation is extremely similar to what we saw during the 2014-2016 period as we transitioned from several years of La Niña conditions to a major El Niño event, and then back to La Niña,” Mann said in an email.
In fact, he said some recent modeling shows the global temperature spike in 2016 was even more of an outlier than that of 2023.
“The plot shows that the surface warming of the planet is proceeding almost precisely as predicted,” Mann said. “And the models show that the warming will continue apace as long as we continue to burn fossil fuels and generate carbon pollution.”
When asked about this interpretation, Schmidt said it’s true that the 2014 to 2016 period was similarly anomalous. But there is a key difference between then and now, he said.
The 2016 temperature spike came on the heels of an El Niño event, with the biggest anomalies in February, March and April of the year following its peak, he said. He noted that similar patterns occurred after previous El Niños in 1998 and 1942.
Conversely, last year’s spike arrived in August, September, October and November — before the peak of El Niño — “and that has never happened before,” Schmidt said. “It never happened in the temperature record that we have. It doesn’t happen in the climate models.”
Alex Hall, a professor of atmospheric and oceanic sciences at UCLA, said he largely agrees with Schmidt’s assessment that the hypothesized factors alone can’t account for the large temperature anomaly experienced in 2023 and early 2024. He likened it to the emergence of megafires, or extreme wildfires, in the last decade, which wasn’t entirely foreseen.
“What we’ve learned is that there’s an aspect of this that isn’t fully predictable — that we don’t fully understand — and that we are tempting fate here a little bit by continuing to interfere with the climate system,” Hall said. “It’s going to do things that we don’t understand, that we don’t anticipate, and those are going to have potentially big impacts.”
Hall said the rapid transition from a persistent La Niña to a strong El Niño last summer likely played a role, as did the change in aerosol regulations.
He also posited that the rapid loss of Antarctic sea ice in 2023 — itself an outcome of the warmer planet and oceans — could have created a kind of feedback loop that contributed to more warming. Ice and snow are reflective, so when they melt, it can result in a darker ocean that absorbs more heat and sunlight. (Antarctic sea ice coverage dropped to a record low in 2023, according to the National Oceanic and Atmospheric Administration.)
“It’s sort of a planetary emergency for us to figure out what’s going on when we see these types of changes,” Hall said. “There should be large teams of people working on it to try to understand it, and we don’t really have those kinds of efforts, so I think there’s lessons, too, for the need for focus on this particular topic.”
Tourists seek shade and water while visiting the Acropolis of Athens during a heat wave in July 2023. (Petros Giannakouris / Associated Press)
While he and other scientists may not agree on just how extraordinary 2023 was — or what was behind its exceptional warmth — they all acknowledged the clear signs of a planet being pushed to its limits.
“I think it’s unfortunate that so much has been made of the El Niño-spiked 2023 global temperatures, where in my view there is nothing surprising, or inconsistent with model predictions, there,” said Mann. “There are much better, scientifically-sound reasons to be concerned about the unfolding climate crisis — particularly the onslaught of devastating weather extremes, heat waves, wildfires, floods, drought, which by some measures are indeed exceeding model predictions.”
Last year was marked by extreme weather events, with more billion-dollar disasters in the United States than any other year, according to NOAA. Among them were the Lahaina wildfire in Hawaii in August; Hurricane Idalia in Florida that same month; and severe flooding in New York in September.
Already this year, January and February have continued the global hot streak, marking nine consecutive months of a record-breaking temperatures.
In his Nature article, Schmidt said the inexplicable elements of the recent warming have revealed an “unprecedented knowledge gap” in today’s climate monitoring, which drives home the need for more nimble data collection that can keep up with the pace of change.
He noted it may take researchers months or even years to unpack all the factors that could have played a part in the sizzling conditions.
“We need answers for why 2023 turned out to be the warmest year in possibly the past 100,000 years,” he wrote. “And we need them quickly.”
Though El Niño is expected to wane this summer, there is still a 45% chance that this year will be warmer than 2023, according to NOAA.
It is a near certainty however that 2024 will rank among the five hottest years on record — so far.
Georgia Republican official and outspoken election denier caught voting illegally 9 times
Josh Meyer, USA TODAY – March 28, 2024
A judge has found Georgia Republican Party official Brian Pritchard guilty of illegally voting nine times over several years. Pritchard has falsely asserted Democrats had stolen the 2020 election through fraud.
Administrative Law Judge Lisa Boggs wrote in her Wednesday decision that Pritchard, the Georgia GOP’s first vice chairman, violated state election laws by voting while on probation for forgery and other felonies, and that his explanations were neither “credible or convincing.”
Pritchard must pay a $5,000 fine and $375.14 in investigative costs incurred by the court. Boggs also ordered that Pritchard “be publicly reprimanded for his conduct” by the State Election Board, which sought the sanctions against him.
On Thursday, Georgia Republican Rep. Marjorie Taylor Greene called on Pritchard to “resign immediately or be removed” from his Georgia GOP position because he “voted ILLEGALLY nine times while serving out his probation for FELONY check forgery.”
“The Republican Party is the party of election integrity,” Greene said on X, formerly Twitter, and “our state party should be the leading voice on securing our elections.”
Forged checks, and claims of a stolen election
Pritchard, a conservative talk show host, has claimed on his FetchYourNews.com show that the 2020 presidential election was fraudulent, echoing claims by former President Donald Trump, who lost in the Peach State and nationwide to Democrat Joe Biden. Trump and 14 co-defendants are currently facing charges of illegally conspiring to overturn the result in Georgia, while four co-defendants have pleaded guilty.
Republican presidential candidate, former U.S. President Donald Trump, gestures while speaking during the 2024 NRB International Christian Media Convention Presidential Forum on February 22, 2024 in Nashville, Tennessee.
Investigations consistently have found no evidence of mass fraud in 2020. But in her 25-page ruling, Boggs found that Pritchard committed voter fraud himself.
Boggs cited certified records from an Allegheny County, Pennsylvania court, which showed Pritchard pleaded guilty in 1996 to felony fraud and theft involving $38,000 in forged checks relating to a construction project and that he was ordered to pay that same amount in restitution. Felons in Georgia lose their right to vote until they complete probation or parole.
Evidence presented in court by two senior officials of the state attorney general’s office indicated Pritchard’s probation had been extended until 2011, but he registered to vote in 2008 and voted in nine elections between then and 2010.
Pritchard testified at an evidentiary hearing in February that he didn’t knowingly commit fraud and that he believed his status as a felon who is ineligible to vote had ended more than two decades ago. He also said he believed his criminal sentence had been converted to a civil judgment, according to a copy of Boggs’ decision.
In an earlier proceeding before the State Election Board, which referred Pritchard’s case to the Georgia attorney general’s office for investigation, his attorney said Pritchard was unaware he was considered a felon when he registered and voted in Georgia.
‘He should have known’
The judge found Pritchard’s explanations to be lacking in credibility, noting that “to accept that the Respondent’s grasp of legal proceedings was so unsophisticated that he did not understand the basic terms of his probation in 1996 … this Court would need to disregard (Pritchard’s) self-described experience as a businessman handling complex projects as well as million-dollar contracts and budgets.”
“Based on the above, and upon careful consideration of the evidence in its totality the Court does not find the explanations credible or convincing,” Boggs wrote. “At the very least, even if the Court accepts he did not know about his felony sentences, the record before this Court demonstrates that he should have known.”
Pritchard’s fine includes $500 for each of the nine times he voted illegally and another $500 for illegally registering to vote in 2008. He can appeal the decision.
Neither Pritchard nor his lawyer, George Weaver Jr. could be reached for immediate comment.
‘I’ve not done anything wrong here’
Pritchard was defiant about his voting record back in December 2022 when he qualified to run in a special election for the state House seat previously held by Speaker David Ralston, who had died the previous month.
“I’ve not done anything wrong here,” Pritchard said at the time, asserting that his sentence had ended long ago and his rights had been restored, the Atlanta Journal Constitution reported. “I guess if you’re apprehending public enemy No. 1, here I am.”
Pritchard has said on his show that the 2020 presidential election was “stolen,” the Atlanta newspaper wrote. It said he also had criticized Republican Gov. Brian Kemp and Republican Attorney General Chris Carr for being “complicit” in Biden’s victory in Georgia.
“I do not believe that 81 million people voted for this guy,” Pritchard said on his show.
Jason Shepherd, a former vice chairman of the Georgia Republican Party, told USA TODAY that the judge’s decision is ironic given Pritchard’s constant claims of election fraud.
Pritchard, he said, “has rapidly risen in the ranks of the Georgia Republican Party and has built a media empire of literally tens of dozens of followers by spouting conspiracy theories about stolen elections and rampant voter fraud from thousands of illegal voters, despite being investigated himself for illegally voting.”
Shephard, who writes the Peach Pundit political column, said the accusations of Pritchard’s voter fraud “have been well known long before he became the second highest officer in the Georgia Republican Party.”
“He should have never been elected and he has now needs to go…and sooner rather than later,” Shephard said. “If (Georgia GOP) Chairman Josh McKoon doesn’t have a resignation by the end of the day, I don’t see how anyone can take the Georgia Republican Party seriously.”
It’s Time to Give Up the Lie We Keep Telling Ourselves About Donald Trump
Susan Matthews – March 28, 2024
If you’re an American news consumer, it’s hard to escape feeling like you’ve been suspended in a state of limbo over the course of the past year or so. The election—it’s coming, but it’s not here yet; well, not quite. Much of America isn’t really paying attention right now, avoiding at all costs the feeling of impending doom inherent to the election rematch no one wants—and I don’t blame them. We all know Trump is coming back to dominate our news feeds again, just as we know that he never really went away, he just finally became possible to turn off for a while. I understand the desire to tune it out, for now, for as long as we can, for just a little bit longer.
But the problem is that Donald Trump, presumptive Republican nominee for president of the United States, is coming back. Just as he battles as hard as he can on every front possible to evade the justice system (though it’s approaching at a rapid clip), and as the Republican Party’s base remains at his beck and call, he is coming back to terrorize America again, which means the Trump show is coming back on, to every television screen near you, no matter what channel you want to tune in to.
The problem is that Season 2—or whatever season we are in at this point—is going to be much worse in so many key ways compared to the last one. The last one had the element of surprise, which kept things shocking for a while in a way that was honestly a bit distracting and roller coaster-y, like when a detective show gives you the cliffhanger just before it streams right through to the next episode. So we all watched and watched because it was ever-present and just a little bit titillating.
But it’s not just that it’s boring this time—even though it is so boring. It is going to be worse this time in the sense that the stakes are higher, the violence is more flagrant, and the way out is harder and harder to see. Nothing—not all of the plaintive and ongoing pleas from us members of the press to remember how awful Trump is and snap out of it—makes this as clear as the documentary Stormy does.
Ahead of Trump’s first criminal trial, now set for April 15 in Manhattan, Stormy happens to be the perfect memory refresher, and not just about all of the horrific things that have happened to Stormy Daniels since she became national news. Watching this documentary brought me right back into hours and hours spent watching White House press conferences, the whole tone immediately recalling the feeling of the chaotic first years of Trump’s presidency, when “the resistance” was only slightly embarrassing as a concept and there was still real solidarity in opposing the president. Oh my god, right, I thought, watching Michael Avenatti’s rise to fame. We were just desperately looking for someone—literally anyone—to save us. For a while, sure, it felt convincing that a brash lawyer who loved the spotlight as much as Donald Trump does might be that person. Oops, it turns out he was embezzling from literally all of his clients. What a twist!
There is a deeper message in Stormy, though, and one that makes it even more understandable why we’ve all wanted to tune out, while simultaneously underscoring the reason why we have to tune back in. As much as the first two-thirds of the documentary are a romp through the hilarity found in a “Make America Horny Again” tour, the documentary takes a turn after showing a few videos from Jan. 6, 2021. It cuts to the more recent past, to the indictment, to Daniels reading through tweets, something she does a lot during the documentary. These later tweets are … a lot worse than what she reads early on. I don’t know exactly what percentage of that can be attributed to how much worse Twitter, aka X, has gotten after Elon Musk’s takeover (certainly some). But the brazenness of the violence is several degrees higher than it was before.
Part of that increase in the violence—and the ho-hum response we’ve all been giving it—feels like it stems from the fact that their guy isn’t in office anymore; it’s much easier to laugh things off from a position of power. And, on the flip side, there’s so much more reckless desperation from the brink of irrelevance, where Trump’s supporters surely found themselves as their hero was indicted again and again. But Jan. 6 also opened doors that legitimately changed what was thought of as normal speech—we’ve spent years since then watching Republicans downplay and minimize what happened, calling the violence freedom, and its perpetrators “political prisoners.” The message stuck. The thugs think they are righteous. That was always Trump’s goal.
The worse reminder in Stormy is of the misogyny that living through Trump being the main event of all of our lives brings with it. This is a chance to rewatch the infamous Access Hollywood tape for the first time in a while. This is a chance to see what it means to be Stormy Daniels, a woman who seems to own her sexuality—and who also is constantly surrounded by men, most of whom seem to be fucking her or fucking her over. This is a woman who insists that what happened between her and Donald Trump wasn’t rape—and then admits later on that the way she felt when Trump cornered her in her hotel room is the way she felt when she was 9 years old being molested by her neighbor, and oh yeah, that trauma probably does have something to do with how she got into porn, if she thinks about it.
The past eight years of being a woman in this country has been to ride the roller coaster from Access Hollywood to #MeToo through the Kavanaugh hearings and eventually into losing Roe. It’s amazing that in the midst of all that, having a president who calls one of his former sexual partners “horseface” still ranks as something to be mad about. But Donald Trump is coming back—and when he does, he will give us something to be mad about every stupid day. And we won’t be able to turn it off, because once again, he’ll be the star of the show.
The surprising reasons why Big Oil may not want a second Trump term
Maxine Joselow, The Washington Post – March 26, 2024
Active pump jacks increase pressure to draw oil toward the surface at the South Belridge Oil Field on February 26, 2022, in unincorporated Kern County, California, approximately 141 miles (227 km) northwest of Los Angeles, California. – From rural areas of the eastern states where modern oil production began to cities in southern California where pumpjacks loom not far from homes, lax regulations and the petroleum industrys boom and busts cycles have left the US pockmarked with perhaps hundreds of thousands of oil wells that are unsealed and haven’t produced in decades. In a first, Washington is making a concerted effort to plug these wells by allocating $4.7 billion in federal infrastructure dollars to plug the wells in an effort to lessen the negative health and environmental impact of the disused wells. (Photo by Robyn BECK / AFP) (Photo by ROBYN BECK/AFP via Getty Images) (ROBYN BECK via Getty Images)More
HOUSTON – As president, Donald Trump vowed to unleash American “energy dominance,” while on the campaign trail, he has summarized his energy policies with the slogan “drill, baby, drill.”
Yet a possible Trump victory in the 2024 election is not delighting oil and gas executives as much as one might expect, according to interviews with several industry leaders at a recent energy conference in Houston.
Fossil fuel firms have found a lot to like in President Biden’s signature climate law, the Inflation Reduction Act, which Trump has vowed to unravel. The law offers lucrative tax credits for companies to capture and store carbon dioxide – subsidies that several oil giants are eager to exploit, even as they pump record amounts of crude oil and post near-record profits.
In addition, Trump has championed an “America First” approach to trade policy that prioritizes steep tariffs on imported goods. The approach could hike the costs of building new pipelines and other energy infrastructure, and it could heighten anxieties about a global trade war.
Still, fossil fuel executives have slammed Biden’s decision to pause approvals of new liquefied natural gas exports. And during the GOP presidential primary, oil barons filled Trump’s campaign coffers far more than those of his competitors.
If a poll were conducted among energy executives about the 2024 election, the results “would be a little more balanced than people might expect,” Alan Armstrong, president and CEO of the gas pipeline company Williams, said in an interview at CERAWeek by S&P Global.
Armstrong said many fossil fuel executives feel the Biden administration has unfairly demonized their industry because of its role in causing climate change. But that’s a personal sentiment, not a professional one, he said.
“If you’re asking people personally, they’re probably tired of being told they’re bad people by the current administration,” Armstrong said. “But from a business objective standpoint, it would be a much more balanced perspective.”
Trump plans to gut the Inflation Reduction Act, including its generous tax credits for clean energy and electric vehicles, should he return to the White House, according to senior campaign officials and advisers to the former president.
Yet several oil industry executives have praised the Inflation Reduction Act – the IRA for short – for helping their companies pursue still-unproven green technologies such as carbon capture and clean hydrogen. The subsidy for carbon capture has especially benefited ExxonMobil, CEO Darren Woods acknowledged at CERAWeek.
“I was very supportive of the IRA – I am very supportive of the IRA – because as legislated the IRA focuses on carbon intensity and in theory is technology-agnostic,” Woods said. “They’re not trying to pick a particular technology.”
Vijay Swarup, Exxon’s senior director of climate strategy and technology, added that the IRA is “getting projects to advance.” Exxon has signed contracts to store the carbon captured from an ammonia plant and a steel plant in Louisiana, as well as a yet-to-be-built hydrogen plant in Texas, Swarup said in an interview.
Of course, Trump could not unilaterally repeal the IRA subsidies. He would need Congress to pass legislation, meaning Republicans would need to maintain control of the House and retake the Senate, in addition to clinching the White House.
In that scenario, Mike Sommers, president and chief executive of the American Petroleum Institute, said the trade group would aggressively lobby against any proposals to scrap green subsidies that have helped the industry.
“I suspect that when there is an attempt to repeal the IRA – and there will be – it will end up looking more like a scalpel-like approach rather than a butcher knife,” Sommers said. “And we’ll advocate for the provisions that we support.”
While in the White House, Trump proclaimed himself a “Tariff Man” – and he has no intention of abandoning that self-appointed title if reelected.
Publicly, Trump has floated the idea of imposing a 10 percent tariff on every good coming into the United States. Privately, he has discussed with advisers the possibility of imposing a flat 60 percent tariff on all Chinese imports, The Washington Post previously reported.
At a rally in Ohio this month, Trump also pledged to slap a 100 percent tariff on Chinese vehicle imports – part of a broader tirade in which he warned of a “bloodbath” for the U.S. auto industry if he is not reelected.
Sommers said such proposals, which are widely viewed as likely to spark a global trade war, carry “risks” for his sector.
“Particularly for the products that are produced here in the United States, we need free trade for these goods to flow,” he said. “I think we are concerned about kind of a retrenchment to a more nationalistic approach on trade policy. So that’s one example of an area where we’re not going to be aligned with a potential President Trump.”
But Dan Eberhart, chief executive of the oil-field services company Canary and a Trump supporter, said he isn’t worried about the former president’s trade policies. He said any adverse impact of tariffs would be canceled out by other pro-fossil-fuel policies, such as more offshore oil and gas lease sales in the Gulf of Mexico.
“In general, I don’t like protectionist policy,” Eberhart said. “But I really think that the Trump administration will be more pro-oil and gas than the Biden administration.”
The Trump campaign did not respond to specific questions for this story. In an emailed statement, spokeswoman Karoline Leavitt said that “on day one, President Trump will unleash American Energy to lower inflation for all Americans, pay down debt, strengthen national security, and establish the United States as the manufacturing superpower of the world.”
The Biden campaign did not immediately respond to a request for comment.
Just three weapons will turn the Ukraine war back around. And the USA is back in the fight
David Axe – March 27, 2024
A Ukrainian artillery piece fires on Russian positions. Artillery, and supplies of artillery shells, have been crucial factors in the Ukrainian fighting – Bulent Kilic/AFP via Getty
Six months after blocking US president Joe Biden’s proposal to spend another $61 billion on aid to Ukraine, Speaker of the House Mike Johnson – who alone can schedule votes in the narrowly Republican-controlled legislative body – seems to have reversed his opposition to Ukraine’s war effort.
With retirements and special elections having reduced his majority to just two votes out of 438, and with a small contingent of far-right Republican extremists refusing to vote on any bill that has bipartisan support, Johnson increasingly relies on Democrats to enact budgets and other legislation.
And that means he answers more to the Democratic agenda than the Republican one. And strong support for Ukraine is a Democratic priority. The US House is on vacation until the first week of April. But once it reconvenes, Johnson will call a vote on fresh aid to Ukraine, according to some of his House colleagues.
With tens of billions of dollars in fresh funding, the US Defence Department could send a lot of weapons to Ukraine – and soon. Some could come straight from existing US stocks, with the new funding paying for newly-built weapons to replenish these stocks. Others could come from new commercial contracts brokered by the Pentagon.
It’s obvious what the priorities should be.
First and foremost, Ukraine needs artillery shells. For the first 18 months of Russia’s wider war on Ukraine, the United States was the main supplier of artillery ammo to Ukrainian batteries. In total, the Americans donated around two million shells. Half came straight from American magazine stockpiles. The other half, America quietly bought from South Korea.
These shells, along with additional ammo from other sources, kept Ukrainian guns blasting away at a rate of around 10,000 rounds a day for much of the war’s first year and a half. That was enough to match Russian batteries once the Russians burned through much of their ammo stockpile in the wider war’s first few weeks.
The Republican funding blockade, and the subsequent run down of US supplied munitions through the end of last year, cut by two-thirds the Ukrainians’ daily allotment of shells. In some of the darkest days of the war in February, as a pair of Russian field armies closed in on the Ukrainian stronghold in the eastern city of Avdiivka, Russian guns were firing five times as many rounds as Ukrainian guns were – and demolishing Ukrainian defence s without fear of return fire.
The US Army has been building a new shell factory in Texas to complement its existing factory in Pennsylvania. Soon, the Army should be capable of producing around 70,000 shells a month – a sixfold increase over its 2022 production rate.
There’s no reason most of the shells can’t go to Ukraine, once there’s funding to pay for each $5,000 round. Combined with shells from the European Union as well as a separate Czech initiative, urgent shipments of shells from the United States could give Ukraine an enduring artillery advantage for the first time in the wider war.
Once the shells are shipping, the Americans can address Ukraine’s second-greatest need: Patriot air-defence batteries and missiles for these batteries. The US-made Patriot is Ukraine’s best air-defence system. Its 90-mile-range missiles can reliably shoot down all but the fastest Russian missiles – and swat down Russian warplanes like flies.
When the Ukrainian air force shot down 13 Russian fighter-bombers in 13 days last month, it was apparently a mobile Patriot battery that did most of the shooting.
But Ukraine has just three Patriot batteries with around three dozen launchers – and lost a pair of those launchers in a devastating rocket ambush in early March. The batteries are spread thin. One normally protects Kyiv. Another protects Odesa, Ukraine’s strategic port on the Black Sea. The third battery apparently travels the front line in order to engage Russian jets.
Ideally, Ukraine would place a $1-billion Patriot battery in each of its half-dozen biggest cities and also assign one each to the eastern and southern fronts. And these batteries should be free to fire away at their fastest rate – meaning they’ll need a steady supply of missiles, each of which costs around $3 million.
Doubling or tripling Ukraine’s Patriot force could help the Ukrainians wrest back control of the air over the front line – and also reverse the disturbing trend toward bigger and bloodier Russian missile-strikes on Ukrainian cities.
Having replenished Ukraine’s artillery and air-defences, the United States should rescue one of the Ukrainian army’s best brigades. The 47th Mechanized Brigade is the main operator of American-made armoured vehicles, including M-1 Abrams tanks and M-2 Bradley fighting vehicles.
The 69-ton M-1 and 42-ton M-2 – thickly armoured and armed with a 120-millimetre cannon and a 25-millimetre autocannon, respectively – are some of the best armoured vehicles in the world, and the 47th Brigade has put them to good use. Counterattacking Russian assault groups west of Avdiivka, the M-1 and M-2s have blunted Russia’s winter offensive – and minimized Ukraine’s territorial losses as its artillery supplies bottomed out.
But the Americans shipped just 31 M-1s and around 200 M-2s before Republicans cut off aid. Four of the M-1s and more than 30 of the M-2s have been destroyed and others damaged. The 47th Brigade is running out of vehicles.
The US Army has thousands of older M-1s and M-2s in storage. They’d need overhaul before going to war in Ukraine, but a billion dollars should be enough to pay for the work as well as expedited shipping.
Once Speaker of the House Johnson bends to Americans’ overwhelming support for a free Ukraine and finally brings aid to a vote, the Pentagon could speed hundreds of tanks and fighting vehicles to the Ukrainian army.
Trump earlier in the day released a video of himself holding the $60 “God Bless The USA Bible” as he insisted that the Bible is his favorite book and that he has “many” in his home.
“Many? Many? Many?” Klepper repeated in disbelief. “How does that thing not burst into flames immediately?”
Trump’s version of the book, done with country singer Lee Greenwood, contains the lyrics to Greenwood’s hit song “God Bless The USA” ― which is played at Trump rallies ― as well as the texts of the Pledge of Allegiance, the Bill of Rights, the U.S. Constitution and the Declaration of Independence.
“Trump is mashing together the Bible and the Constitution like it’s a Pizza Hut-Taco Bell,” Klepper cracked. “I know people will say that you’re not supposed to mix the Bible and the Constitution, but what you have to understand is Trump has never read either of them.”
Klepper also predicted where this would lead.
“Trump getting into business with God can only mean one thing: God is gonna end up bankrupt and serving a three-month prison sentence for lying under oath,” he said.
See more in his Tuesday night “Daily Show” monologue:
Here’s who could be responsible for paying for the Baltimore bridge disaster
Erin Snodgrass – March 26, 2024
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The Francis Scott Key Bridge in Baltimore collapsed after a container ship collided with it.
Several entities will likely be on the hook to foot the bill in the aftermath of the disaster.
The maritime insurance industry will be saddled with the highest costs.
The Francis Scott Key Bridge in Baltimore collapsed on Tuesday after a large container ship ran into it, leading to six presumed deaths and millions of dollars in possible damage.
It’s still too early to estimate the total economic impact of the disaster, but between the cost of rebuilding the decades-old bridge, compensating the victims’ families, and paying out damages for disruptions to the supply chain, the eventual cost of the disaster is expected to be significant.
Who will pay to rebuild the bridge?
President Joe Biden said on Tuesday the federal government should be responsible for paying to reconstruct the damaged Francis Scott Key Bridge.
“It is my intention that the federal government will pay for the entire cost of reconstructing that bridge, and I expect Congress to support my effort,” Biden said.
The bridge was built in the 1970s for about $60 million, but the cost of rebuilding it could be 10 times its original price tag, an engineering expert told Sky News.
The Francis Scott Key Bridge, named for Francis Scott Key, the author of the Star Spangled Banner.WilliamSherman via Getty Images
Baltimore is among the busiest ports in the nation, seeing more than a million shipping containers pass through each year. The collapse — which closed the port to all maritime and most road traffic until further notice — is already beginning to wreak havoc on the supply chain.
The cost of building the bridge back fast enough to offset diversions as much as possible could saddle the government with a more than $600 million bill, David MacKenzie, chair of engineering and architecture consultancy COWIfonden, told Sky News.
Who will pay for damages to the ship and its cargo?
The container ship, the Dali, is owned by a Singapore-based firm. The ship’s charterer, Maersk, confirmed to Business Insider that vessel company Synergy Group operates the ship.
However, the companies with cargo aboard the Dali will ultimately be responsible for the ship’s damages and cargo costs.
The Dali was carrying 330 containers, which now must be re-routed, according to Ryan Petersen, CEO of supply chain logistics company Flexport, which had two containers on the ship.
An ancient maritime law known as “general average” dictates that companies with even a single container aboard a ship have to split the damages pro rata based on the number of containers, ensuring all the stakeholders benefiting from the voyage are splitting the risk, Petersen said.
Drone footage shows aftermath of the Dali container ship’s collision into the Francis Scott Key Bridge in Baltimore, Maryland, on March 26, 2024.Anadolu Agency via Reuters
The principle dates back hundreds of years and was originally meant to ensure sailors on board a ship weren’t worried about specific cargo if a disaster required them to start throwing containers overboard, according to Petersen.
Who will pay for everything else?
The majority of the financial fallout is likely to lay primarily with the insurance industry, according to media reports.
Industry experts told FT that insurers could pay out losses for bridge damage, port disruption, and any loss of life.
The collapse could drive “one of the largest claims ever to hit the marine (re)insurance market,” John Miklus, president of the American Institute of Marine Underwriters, told Insurance Business.
He told the outlet that the loss of revenue from tolls while the bridge is being rebuilt will be expensive, as will any liability claims from deaths or injuries.
The Dali is covered by the Britannia Steam Ship Insurance Association Ltd., known as Britannia P&I Club, according to S&P Global Market Intelligence.
Britannia did not immediately respond to a request for comment from Business Insider but told FT it was “working closely with the ship manager and relevant authorities to establish the facts and to help ensure that this situation is dealt with quickly and professionally.”
Britannia is one of 12 mutual insurers included in the International Group of P&I Clubs, which maintains more than $3 billion of reinsurance cover, sources familiar with the matter told Insurance Business.
Britannia itself is liable for the first $10 million in damages, both FT and Insurance Business reported. Whatever remains is dealt with by the wider mutual insurance group and Lloyd’s of London, a reinsurance market in the UK, according to FT.
Fast-food companies seeing low-income diners pare orders
Waylon Cunningham – March 27, 2024
McDonald’s Corp. reports fourth quarter earningsA Wendy’s sign and logo are shown at one of the company’s restaurant in Encinitas, California
SAN ANTONIO, Texas (Reuters) – Runaway prices at U.S. fast-food joints and restaurants have made people skittish down the income ladder and executives at chains including McDonald’s and Wendy’s recently said they worry about losing business from those on the tightest budgets.
Roughly a quarter of low-income consumers, defined as those making less than $50,000 a year, said they were eating less fast food and about half said they were making fewer trips to fast-casual and full-service dining establishments, according to polling in February by Revenue Management Solutions, a consulting firm.
The rising price of food is contributing to budget-conscious diners cutting back.
Whether consumed at home or in a restaurant, food prices rose 20% from Jan. 2021 to Jan. 2024, the fastest jump on record. A recent census Household Pulse Survey showed half of people earning less than $35,000 a year had difficulty paying everyday expenses, and nearly 80% were moderately or “very” stressed by recent price increases.
Lauren Oxford, a musician who works part time at a bed-and-breakfast in Tennessee, said she used to stop by McDonald’s after running errands, treating herself to two double hamburgers, fries and a drink, for less than $5. As prices rose, she switched to smaller hamburgers and stopped getting the drink.
But after a year in which McDonald’s franchisees drove prices up about 10% according to the company’s executives, she’s going to McDonald’s less in general. “Now I don’t know if I can justify that.”
In the Fed’s most recent Beige Book compendium of anecdotal reports gathered from business and community contacts around the country, 7 of 12 regional Fed districts reported low-income consumers were changing spending habits in search of bargains, seeking more help from community groups, or struggling to access credit.
About one-third of Black American households, and 21% of white American households, earned less than $35,000 in 2022, according to the latest available U.S. census data.
For fast-food companies that often promote an image of affordability, low-income consumers are a significant portion of the customer base and a bellwether for longer-term trends. But they are typically the first to cut back spending and the last to come back.
But now, chains may be less likely to chase customers as hard as they have in the past because even with a drop in traffic, sales have remained consistent supported by increased prices.
Fast food companies aren’t “in a hurry to take traffic over profit the way they were a decade ago,” said Mike Lukianoff, CEO of SignalFlare.ai and a veteran consultant in the fast food industry.
For example back in 2008, Subway introduced its nationwide $5 footlong, which became the poster sandwich for the Great Recession. That spurred rivals to introduce extreme value deals for budget-conscious customers, such as “$5 Fill-Up Boxes” at Yum! Brands KFC.
In 2016, McDonald’s, after a prolonged slump in sales, introduced a bundle deal it called “McPick 2”, allowing customers to choose 2 items, like a McDouble, for $2. Within months, Wendy’s offered a four for $4 deal. Burger King offered five for $4. Pizza Hut had a $5 “flavor menu.”
APP-DRIVEN DISCOUNTS
Now, instead of across-the-board menu slashes and broad discounts, industry analysts say chains are being more selective, aiming them at specific demographics or limiting them to specific meal times or channels, such as its app or only through delivery.
McDonald’s executives told investors in February that it would rely on its existing “value menu” to appeal to low-income consumers who might be tempted to eat packaged food at home instead. CFO Ian Borden said affordability is core to the brand, and the company would continue “evolving” its value offerings.
“The battleground is certainly with that low-income consumer,” McDonald’s CEO Chris Kempczinski told investors, referring to people making less than $45,000.
Wendy’s recently introduced a limited-time $1 burger — available only through its app. Its CFO Gunther Plosch told investors in February that among lower-income customers, their traffic is down but their share with the general market is unchanged.
For major fast-food companies, loyalty apps are the go-to strategy among major brands to increase retention and the average amount of money spent. The upside for chains, David Henkes, senior principal with Technomic said, is that they capture more transaction data and demographic data for the consumer, “which is a trade-off many are happy to do.”
For example, McDonald’s frequently offers in-app discounts, such as 20% off an order or free delivery with a large enough order.
Domino’s halved the minimum purchase price to get points in its loyalty program, to $5 from $10, its CEO told investors at a conference in January. It also reduced the number of purchases needed to get a free pizza to as few as two from six. “And so essentially, for this lower-income consumer, we’ve made the brand more accessible,” CEO Russell Weiner said.
To be sure, not every chain is seeing weakness among low-income customers. At Taco Bell, which sells a single taco for $1.40 at many of its stores in San Antonio, locations in low-income markets did better than other locations, Yum! CEO David Gibbs told investors in February.
McDonald’s still holds its appeal for Andreas Garay, a retail worker eating at a McDonald’s in westside San Antonio. He said he plans to keep his coffee-and-Big-Mac habit– even if prices continue going up.
(Reporting by Waylon Cunningham in San Antonio and Howard Schneider in Washington, D.C.; Editing by Anna Driver)
Mumbai becomes Asian capital with most billionaires, bumping Shanghai: Report
Filip Timotija – March 27, 2024
The city of Mumbai has officially surpassed Shanghai as Asia’s capital with the most billionaires, according to a new Hurun Global Rich List 2024 report.
Mumbai, India’s financial powerhouse, now has 92 billionaires, closely edging out Beijing’s 91 and Shanghai with 87.
This year’s list marked Mumbai’s first time in the world’s top three, according to the report.
Globally, the Big Apple still leads the way. New York City has the most billionaires with 119. London was second with 97. Beijing, which was ranked first last year, dropped to fourth place.
China has the most billionaires out of any country with 814, although it lost 155 of them. The U.S. was second with 800 billionaires. India was third with 271.
“Wealth creation in China has gone through deep changes these last few years, with the wealth of billionaires from real estate and renewables down,” the research firm said in the report.
“Whilst as many as 40% of the Hurun Global Rich List from the high water mark two years ago have lost their billionaires status, China has added a 120 new faces to the list. Despite the large drop in the number of billionaires, China still has more known billionaires than the US.”
Zhong Shanshan, chair of bottled water giant Nongfu Spring, kept his spot as the richest person in China.
Globally, the number of billionaires increased — now at 3,279 billionaires, up 167 from last year, according to the report.
The rapid development of artificial intelligence (AI) has helped generate new ultra-wealthy individuals.
“AI has been the major driver for wealth growth, generating over half of all the new wealth this year,” the research firm said. “The billionaires behind Microsoft, Google, Amazon, Oracle and Meta have seen significant surges in their wealth as investors bet on the value generated by AI.”
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