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Russian Oil Refinery Catches Fire Following Ukrainian Drone Attacks

Russian Oil Refinery Catches Fire Following Ukrainian Drone Attacks

By Tsvetana Paraskova of OilPrice.com

A Lukoil refinery in western Russia is on fire following a drone attack early on Tuesday local time in what appears to be several coordinated attacks by drones from Ukraine on Russian refinery and fuel facilities.   

A crude processing unit at the refinery in Nizhny Novgorod is on fire after a drone attack was carried out on Tuesday morning, Gleb Nikitin, governor of Nizhny Novgorod, wrote on his Telegram channel.

Investigators and fire brigades are working to contain the fire at one of the refinery’s units, Nikitin said, adding that preliminary reports say there have been no injuries.

Another energy facility in western Russia was also attacked by a drone overnight.

A drone attack was launched at a fuel and energy facility in the Oryol region, governor Andrey Klychkov said on Telegram. One of the fuel tanks caught fire as a result of the attack, a representative of the local authorities told Russian news agency TASS.

Local officials in the capital city Moscow, as well as in the regions of Kursk, Tula, Voronezh, and Belgorod also reported drone attacks, without giving more details. 

Ukraine hasn’t commented on the drone attacks.

Ukraine’s security services have been hitting with drones Russian refineries, especially those in southern Russia, in attacks that have intensified since the beginning of the year.

The Ukrainian attacks and the damage they caused to Russian refineries have reduced Russia’s capability to process crude. In mid-February, Russia’s refinery rates had slumped by 380,000 barrels per day (bpd) compared to December levels as several refineries were under repairs after being hit by Ukrainian drone attacks.

Lower refining capacity in the second quarter, due to refinery maintenance and emergency repairs following the attacks, could be one of the reasons why Russia said it would focus on cuts to oil production instead of exports in its voluntary supply reduction as part of OPEC+ in the second quarter.

Tyler Durden
Tue, 03/12/2024 – 17:40

Trump Did Propose 10,000 National Guard Troops On January 6th; Report

Trump Did Propose 10,000 National Guard Troops On January 6th; Report

Authored by Jonathan Turley,

One of the long-standing unanswered questions from the January 6th riot has been why the Capitol was so poorly prepared and defended on that day. A newly released transcript has caused a firestorm in Washington over allegations that the J6 Committee downplayed or even suppressed evidence that former President Donald Trump personally suggested the deployment of 10,000 national guard troops to prevent violence.

The transcript also includes contradictions of major allegations that ran wild in the media.

That includes the claim that Trump tried to physically grab the steering wheel of the presidential limo, “The Beast,” when Secret Service refused to take him to the Capitol. Former White House aide Cassidy Hutchinson was the source of the claim, which appeared in most of the media and was highlighted in her testimony. However, it appears that the J6 Committee had testimony of secret service agents directly contradicting that account, including the driver.

However, it is the National Guard question that is more weighty for historical purposes.

Trump has long claimed that he proposed the deployment of the National Guard troops (as was done previously at the White House during violent protests). The January 6th Committee said that was a lie.

The release of the transcript by Rep. Barry Loudermilk (R., Ga.) triggered attacks on the J6 Committee. The Federalist’s Mollie Hemingway wrote a column titled “Former Rep. Liz Cheney’s January 6 Committee suppressed evidence.”

That triggered an angry response from former co-chair Liz Cheney which led to an even angrier reply from commentator Mark Levin.

The anger is nothing new in a J6 investigation that seemed to produce more heat than light. Cheney’s spokesperson called the Federalist report “flatly false” and added “no transcripts were destroyed” while acknowledging that some material was not published “to allow the Secret Service to protect sensitive security information for interviews of its agents before preserving that testimony in the archives.”

The issue of the suppression or destruction of the evidence has drawn a lot of attention, but the more troubling question is the fact that such an offer was made and declined.

The Committee found “no evidence” that the Trump administration called for 10,000 National Guard members to Washington, D.C., to protect the Capitol.

That now stands contradicted and the question is whether Cheney or other members knew the public was being misled on the question. For example, the Washington Post “debunked” Trump’s comments with an award of “Four Pinocchios.”

The Post’s Glenn Kessler admitted that Trump raised the issue but noted that he might have been suggesting the troops “not because he wanted to protect the Capitol,” but to suggest that he and his supporters were being threatened. He added that “Trump brought up the issue on at least three occasions but in such vague and obtuse ways that no senior official regarded his words as an order.”

However, the issue is not whether Trump issued “an order” but made an offer that was declined. For those of us who were covering the event on that day, the question has always been prominent in our minds. I was critical of Trump’s speech while he was still giving it. However, before the Capitol was breached, I also noted that I had never seen the Capitol so thinly protected in a major protest.

We had just seen violent protests outside of the White House with a large number of police officers injured and extensive property damage, including arson. President Trump and his family had to be moved to a secure location out of concern of an imminent breach of the White House. National Guard were deployed and fencing installed.

Even without an offer, it remains unclear why the violence around the White House did not prompt Congress to install the same barriers and deploy the same troops. (They ultimately took both steps but only after the rioters gained entry into the Capitol).

Moreover, if an offer was clearly made, it undermines the allegations that Trump was actively seeking an insurrection. While he has never been charged with an insurrection or even incitement, that allegation was used more recently to support his disqualification from the ballots in Colorado, Maine, and Illinois.

The transcript contains the testimony of former White House Deputy Chief of Staff Anthony Ornato’s interview on January 2022 with Cheney present. Ornato states that he clearly recalled the offer of 10,000 troops being made by Trump in a conversation with D.C. Mayor Muriel Bowser:

“I was there, and he was on the phone with her and wanted to make sure she had everything that she needed. Because I think it was the concern of anti and pro groups clashing is what I recall…I remember the number 10,000 coming up of, you know, the President wants to make sure that you have enough. You know, he is willing to ask for 10,000. I remember that number.”

Ornato said that Browser said that they would not need the troops. (She ultimately asked for only 300 troops). There are also reports that then Speaker Nancy Pelosi was worried about the “optics” of military reinforcements at the Capitol.

Ornato also said that he recalled that, after Bowser refused additional National Guard members, the White House requested the Defense Department have a “quick reaction force” ready on that day. He gave details on meetings with the Defense Department and follow up from Chief of Staff Mark Meadows.

Hemingway noted in her report that Ornato’s testimony was supported by former Trump administration aide Kash Patel. Cheney has attacked Patel as unreliable.

Ornato also testified that Meadows and others were frustrated by the delay in getting those troops to the Hill. The delay was blamed on the logistics, not some conspiracy to enable or facilitate an insurrection.

The Federalist article makes additional allegations, including that Cheney was behind an op-ed by her father, former Vice President Dick Cheney, opposing any use of national guard troops on January 6th.

However, even proving such duplicity would hardly be news for Washington. Likewise, it does not negate criticism over Trump’s comments on that day or his delay in publicly calling for supporters to withdraw.

Yet, again, what is more important historically  is whether the J6 Committee had direct evidence that Trump made the offer of thousands of troops and that the White House pushed for rapid deployment troops on that day.

I have previously criticized the one-sided J6 Report and the biased framing of the hearings held by the members. The Committee could have been so much more than the echo chamber that it became.  However, this latest transcript adds questions over the perplexing failure of Congress to take obvious steps to prevent a riot.

Had Congress simply installed the same fencing previously used at the White House and deployed such troops, the J6 riot would likely have never occurred. Given the cost and trauma to our nation, we should want to know the full story of what occurred on January 6th.

Tyler Durden
Tue, 03/12/2024 – 15:40

FBI Chief Tells Lawmakers ‘Don’t Panic’ As Terror Threat Soars Due To Border Invasion

FBI Chief Tells Lawmakers ‘Don’t Panic’ As Terror Threat Soars Due To Border Invasion

Before the Muslim holy month of Ramadan, the Federal Bureau of Investigation issued warnings about an Iranian assassin preparing to kill former and current US government officials. At the same time, New York City deployed National Guard soldiers armed with machine guns across subway stations.

On Tuesday morning, the head of the FBI, Christopher Wray, told the Senate Intelligence Committee that terrorist threats against the US had reached a “whole other level,” according to Bloomberg. This comes as the migrant invasion, facilitated by the Biden administration, has flooded the nation with millions of unvetted folks from third-world countries, some of whom deeply hate America. 

“You’ve seen a veritable rogue’s gallery of foreign terrorist organizations calling for terrorist attacks against us in a way that we haven’t seen in a long, long time,” Wray warned lawmakers. 

Wray joined other intelligence community leaders in discussing the current security threats facing the US. 

Sen. John Cornyn, R-Texas, reminded Wray that only a handful of terrorists were in the US before the 9/11 attacks that killed more than 3,000 people. 

“I worry that among the people that are coming across the border that are evading law enforcement, that there are some people among those that mean to do us harm. Do you share that concern?” Cornyn asked Wray.

Wray replied: “I do.” 

Wray told lawmakers now “is not the time to panic.” 

He said, “We’re very actively investigating working with DHS [Department of Homeland Security] on both people whose travel was facilitated but also members of the facilitation network in some other way overseas.”

Already, 17 individuals on the FBI’s terror watch list were captured on the border several months ago. The US recently caught a known member of the Somali terror group al-Shabaab

The threat stream that keeps DHS folks up at night emanates from Iran and or Iran-backed groups. Biden’s open border disaster has been an open ticket for terrorist cells to flood the nation.

Recall this US sheriff’s warning last month…

Open borders have compromised our national security. 

Tyler Durden
Tue, 03/12/2024 – 15:20

OPEC’s Oil Production Rose In February Despite Cut Extension

OPEC’s Oil Production Rose In February Despite Cut Extension

By Charles Kennedy of OilPrice.com

Despite the voluntary production cuts of several major producers of the OPEC+ alliance, OPEC’s oil production rose in February by more than 200,000 barrels per day (bpd) compared to January, driven by higher production in Libya, which is exempted from the OPEC+ supply cuts.

Crude oil production from all OPEC members jumped by 203,000 bpd from January to 26.57 million bpd in February, OPEC’s Monthly Oil Market Report (MOMR) showed on Tuesday.  

The biggest increase in output came from Libya, which has been exempt from the OPEC+ cuts due to its unstable security situation, as well as from Nigeria, which has underperformed compared to its quotas in recent years, due to a lack of investments and frequent sabotages and theft on onshore pipelines.

Libya has restored oil production at its largest oilfield, Sharara, which was shut down for three weeks in January by protesters.

In February, Libya’s oil production rose by 144,000 bpd, while Nigeria’s output increased by 47,000 bpd compared to January.

OPEC’s top producer, Saudi Arabia, produced 8.98 million bpd last month, in line with its pledge to keep output at about 9 million bpd after promising a 1-million-bpd cut that has been in place since last summer.

But the second-biggest producer of the cartel, Iraq, pumped around 200,000 bpd more than its pledge to keep production at 4 million bpd, as it only reduced output by 14,000 bpd, according to the secondary sources in OPEC’s report. Iraq’s oil production averaged 4.2 million bpd last month, per the sources.  

Some OPEC+ producers, including Saudi Arabia, Iraq, Kuwait, the United Arab Emirates (UAE), and Algeria, announced earlier this month they would roll over their production cuts – initially for the first quarter – into the second quarter, too. They are joined in this OPEC+ effort by non-OPEC producers Russia, Kazakhstan, and Oman.  

Tyler Durden
Tue, 03/12/2024 – 15:00

Biden Says He’s “Counting On The Border Action Happening By Itself”

Biden Says He’s “Counting On The Border Action Happening By Itself”

Authored by Steve Watson via Modernity.news,

Joe Biden gave perhaps his most baffling comments on the border to date Monday when he told a reporter that he is “counting on” some action to fix the crisis at the border to “happen by itself.”

Following another disastrous appearance in New Hampshire, more to follow, Biden stopped on the tarmac before shuffling up the small steps into Air Force One.

“When is a border executive action coming?” a reporter asked Biden.

“I’m counting on the border action happening by itself,” Biden responded.

What?

Those 94 executive actions he took shutting down Trump era border policies are just going to reverse themselves are they?

The wide open border is apparently going to close itself if left alone.

In reality this translates as “I’m not going to do anything.”

Earlier, Biden said there just needs to be an “orderly process” at the border. Form an orderly queue and it’ll sort itself out.

At the end of this little meeting, Biden asked his handlers if he was “allowed to take questions.” The answer was no, the press were quickly ushered away and the feed cut.

Biden was busy Monday. During a speech at the National League of Cities at the Marriott Marquis Washington, he slurred his way through a snorefest speech and then was again cut off by his handlers before he had a chance to go off script.

He attempted a pathetic half jog off the stage as handlers frantically waved him in the right direction:

In New Hampshire, Biden’s brain malfunctioned and he rambled incoherently again:

He called John McCain his “predecessor.” We all must’ve missed when McCain was president.

*  *  *

Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.

Tyler Durden
Tue, 03/12/2024 – 14:20

Another Il-76 Military Transport Plane Goes Down In Russia

Another Il-76 Military Transport Plane Goes Down In Russia

Russia’s Defense Ministry has confirmed that one of its Ilyushin Il-76 military transport planes has crashed in Russia on Tuesday, citing engine failure as the reason which occurred shortly after take-off.

The 15 total people that were on board, including eight crew members and seven passengers, are feared dead amid emergency efforts to reach and assess the crash site. Initial local reports said there were no survivors.

Screengrab of social media footage showing the apparent engine failure.

“An Il-76 military transport aviation plane crashed in the Ivanovo region while taking off to perform a scheduled flight. On board were eight crew members and seven passengers,” the defense ministry statement said.

Russian authorities have been further cited as saying that “the cause of the disaster was a fire in one of the engines during take-off.”

It happened over the Ivanovo region, which lies some 125 miles east of Moscow. Shocking video of the large transport plane flying low with one of its engines shooting flames out of it has widely circulated on social media.

Russia’s state-backed RT has written, “According to media reports, the plane’s pilot was trying to return to the Ivanovo Severny air base but was unable to do so.” That’s when the pilot “apparently diverted the doomed aircraft away from a village, crashing it near a cemetery.”

Video which has been authenticated by state media of the large military transport plane going down:

The Il-76 has been in operation since 1971 when it was produced as the Soviet air force’s main heavy transport plane. It is capable of taking some 140 paratroopers into battle.

Russia is believed to have well over 100 Ilyushin Il-76 military transport planes in service by aerial forces, and they also have civilian use. They’ve been heavily relied upon to transport troops and equipment to and from the Ukraine battlefield over the last two years of war.

Another angle which appears to show parts falling from one of the engines:

Back in January, a major disaster unfolded when an Il-76 went down in the the Belgorod region near the border with Ukraine. Russian authorities said Ukraine forces shot the aircraft down, and 65 Ukrainian POWs who were being transported at the time died.

There were also six crew members and three Russian servicemen who perished, and it resulted also in Moscow accusations that a Western-supplied missile had hit the plane.

Tyler Durden
Tue, 03/12/2024 – 14:00

Ugly, Tailing 10Y Auction Sees Lowest Foreign Demand Of 2024

Ugly, Tailing 10Y Auction Sees Lowest Foreign Demand Of 2024

After yesterday’s stellar, stopping through 3Y auction, moments ago the Treasury completed its 10Y reopening of 9-year, 11-month Cusip JZ5, in an auction that was mediocre at best.

The high yield of 4.166% was above last month’s 4.093% (in fact it was the highest 10Y auction stop of 2024), and also tailed the When Issued 4.157% by 0.9bps, the biggest tail since December 2023.

The bid to cover was 2.51, a drop from last month’s 2.56 and the lowest since November 2023; it was also below the six-auction average of 2.52.

The internals were also subpar with foreign buyers less excited as Indirects took down just 64.3%, down from 71.0% last month and the lowest since December, not to mention below the 66.2% recent average. And with Directs awarded 18.6%, up from 16.1% last month, Dealers were left holding just 17.1%, up notably from last month’s 13.0%

Overall, this was an ugly, tailing auction despite the generous concession which saw 10Y yields move almost 10bps higher on the day after the hotter than expected CPI print, which while slamming bonds did just the opposite for stocks where both good news and bad news just serves to drive equities higher.

Tyler Durden
Tue, 03/12/2024 – 13:27

‘Weekend In Ohio’: Two Women Charged With “Gross Abuse Of A Corpse” After Driving Dead Man To Bank To Make Withdrawal

‘Weekend In Ohio’: Two Women Charged With “Gross Abuse Of A Corpse” After Driving Dead Man To Bank To Make Withdrawal

The plot to ‘Weekend at Bernie’s’ playout this past week in Ohio when two women reportedly “propped up a dead man in their car to withdraw hundreds of dollars from his bank account”, according to a report from the NY Post and the Star Beacon

When they were done with the dead man, they dropped his corpse off at a local hospital, the report says. 

Ashtabula Police Chief Robert Stell told the Star Beacon: “Before dropping him off they went through a bank drive-thru with him propped up in the passenger seat so that the teller could see him. … They tried to withdraw money from his account. The bank had allowed this previously as long as they were accompanied by him.”

The women managed to withdraw “about $900”, according to the Post. 

When the women brought the dead man, 80 year old Douglas Layman to the emergency room, the medical staff were initially unaware of his identity.

However, authorities later managed to track down Loreen Bea Feralo, 55, and Karen Casbohm, 63, who dropped the body off and were able to identify him. They reported that he had passed away at his residence in Ashtabula, as per the police records.

Feralo was “convicted of reckless assault, possession of drug paraphernalia, criminal trespass, driving under the influence, theft and attempted possession of drugs,” the NY Post wrote. The women were also charged with theft and gross abuse of a corpse, the report says. 

Ashtabula Prosecuting Attorney Cecilia Cooper commented: “We filed charges against two women. Karen Casbohm and Loreen Bea Feralo were charged with gross abuse of a corpse and theft.”

Tyler Durden
Tue, 03/12/2024 – 13:20

US Gasoline Prices Rise For The Second Consecutive Week

US Gasoline Prices Rise For The Second Consecutive Week

By Charles Kennedy of OilPrice.com

U.S. gasoline prices rose for a second week in a row, to average $3.40 per gallon on Monday, up by 6.2 cents from a week ago, amid rising demand, ongoing refinery maintenance, and the switch to summer gasoline, GasBuddy said today.

Still, the national average price of regular gasoline is 4.5 cents per gallon lower than a year ago, said GasBuddy, which has compiled price data from more than 12 million individual price reports covering over 150,000 gas stations.

The national average price of diesel, on the other hand, has fallen by 1.3 cents in the past week and stands at $4.02 per gallon on Monday, which is 30 cents lower than this time last year, according to GasBuddy’s data.

American drivers could be in for some relief in the coming weeks, due to a rise in U.S. refinery utilization in the most recent week, and a possible earlier end to refinery maintenance, said Patrick De Haan, head of petroleum analysis at GasBuddy.

“The national average price of gasoline has seen a continued but measured rise compared to last week, but the pace of increases has slowed slightly in the last few days. With government data showing a rise in refinery utilization last week, there may be some good news on the horizon for drivers,” De Haan said.

“Much of the seasonal rise that happens this time of year is a culmination of refinery maintenance, the switch to summer gasoline, and rising demand,” the expert noted.

The changeover is still ongoing so the upward trend is likely to persist, but higher refinery output could ease some of the upward pressure on gasoline prices, according to De Haan.

More expensive international crude prices are also to blame for the rise in U.S. gasoline prices, AAA said last week.

“Spring is nearly here, with longer days, better weather, and more opportunities to hit the road,” AAA spokesperson Andrew Gross said.

“And we are seeing this reflected in rising gasoline demand. But remember, we see this trend every year.”    

Tyler Durden
Tue, 03/12/2024 – 13:00

Biden’s Budget Is Unmitigated Bull**it

Biden’s Budget Is Unmitigated Bull**it

Following yesterday’s release of Biden’s $7.3 trillion budget, the Biden administration bragged about lowering the deficit by $3 trillion over the next decade – an average of 0.8% of GDP over that period. 

This would consist of roughly $2.6 trillion over 10 years in additional spending programs, offset by around $4.8 trillion in tax increases over the same period. Most of the tax and spending proposals have been included in prior budget proposals from the White House, according to Goldman’s Alec Phillips, however there are several new items.

The budget would increase the corporate alternative minimum tax on book income from 15% to 21%, raising $137 billion over the next decade. It also limits a corporation’s ability to deduct employee pay exceeding $1mm/year, raising $272 billion over 10 years. The largest proposed tax increases include; raising the corporate minimum tax from 21% to 28%, as well as a series of tax increases on high-income earners, including new Medicare taxes, and a new 25% minimum tax on incomes over $100 million, raising $500 billion over the next decade.

Of course, it has zero chance of passing under the current Congress – but that’s not the point.

As one DC strategist wrote in a morning email noted by CNBC‘s Brian Sullivan, the budget deficit will still grow by another $16 trillion over the next decadeand that’s with aforementioned tax hikes.

Without them, the deficit grows to $19 trillion.

In short, talk of ‘$3 trillion saved’ is total bullshit in the grand scheme of things, given how much the national debt will grow in the best case scenario.

“No family budget or business could exist with this kind of math,” says Sullivan.

Sullivan noted earlier that our incompetent, spendthrift government has added 60% to the national debt since 2018 alone.

This is fine…

 

Tyler Durden
Tue, 03/12/2024 – 12:40