74.8 F
Chicago
Monday, August 10, 2026
Home Blog Page 3827

FBI Lawyer Hoped Justice Department Would ‘Reconsider’ 2021 Memo On Alleged School Board Threats

FBI Lawyer Hoped Justice Department Would ‘Reconsider’ 2021 Memo On Alleged School Board Threats

Authored by Ryan Morgan via The Epoch Times (emphasis ours),

Documents the FBI recently released show that a lawyer for the agency expressed her reservations about a draft version of U.S. Attorney General Merrick Garland’s Oct. 4, 2021 memo that initiated a controversial federal effort to investigate alleged harassment at school board meetings around the country.

Attorney General Merrick Garland delivers remarks at an event commemorating the 60th anniversary of the Gideon v. Wainwright Supreme Court decision, at the National Press Club in Washington on March 16, 2023. (Kevin Dietsch/Getty Images)

The documents, which the America First Legal Foundation (AFL) recently obtained through a Freedom of Information Act (FOIA) request, showed FBI attorney Miriam Coakley expressed her hope that Garland and the U.S. Department of Justice (DOJ) would reconsider their actions.

Not sure if you’ve seen this/weighed in—it was just raised to my attention,” Coakley wrote in an Oct. 4, 2021 email to Corey Frazier Ellis. Ellis was serving at the time as chief of staff for FBI Director Christopher Wray before Garland appointed him in December of that year to serve as the Interim U.S. Attorney for the District of South Carolina.

I hope DOJ reconsiders,” Coakley added in her email.

After Coakley contacted him, Ellis raised the issue to Norman Wong, the then director of the DOJ’s Executive Office for United States Attorneys (EOUSA), writing “we are asking that the memo be revised,” to which Wong replied: “It’s a little too late.”

The DOJ proceeded to publish Garland’s memo that day, along with a larger press statement describing the formation of a task force that would include the FBI and the DOJ’s Criminal, National Security, and Civil Rights Divisions.

2021 Garland Memo Set Off Controversy

At the time, Garland and the DOJ cited “an increase in harassment, intimidation and threats of violence against school board members, teachers and workers” in their decision to launch the new DOJ task force.

The new task force came as parents had been protesting school boards around the country over their COVID-19 policies and the inclusion of critical race theory (CRT) principles in school curricula. On Sept. 29, 2021—just days before Garland’s memo—the National School Boards Association (NSBA) sent a letter (pdf) to President Joe Biden and the DOJ, raising concerns about disruptions to school board meetings and claiming the harassment they were experiencing was akin to domestic terrorism or hate crimes. The NSBA letter called on the DOJ to use its National Security and Counter-terrorism components to investigate these school board incidents and use counter-terrorism laws—like the PATRIOT Act—to prosecute them.

The NSBA letter and Garland’s subsequent decision to form a new task force to investigate disruptions at schools and school board meetings received pushback from Republican officials. A Group of State Attorneys General sent a letter (pdf) disputing the NSBA’s claims and arguing that the DOJ’s subsequent actions could be used as a pretext to chill lawful free speech.

The NSBA went on to retract its letter and said “there was no justification for some of the language included in the letter.” Despite that NSBA retraction, Garland continued to defend his decision to form the new DOJ task force.

“All it asks is for federal law enforcement to consult with, meet with local law enforcement to assess the circumstances, strategize about what may or may not be necessary to provide federal assistance, if it is necessary,” Garland said in response to questions at the time from Sen. Chuck Grassley (R-Iowa) and Sen. John Cornyn (R-Texas). Garland said his memo “alters some of the language in the [NSBA] letter that we did not rely on.”

Read more here…

Tyler Durden
Mon, 03/27/2023 – 21:40

Big City Politicians Need To Take Crime Seriously

Big City Politicians Need To Take Crime Seriously

Authored by Gabriel Nadales via RealClear Wire,

There have been several signs recently that voters are sick and tired of the anti-police policies causing crime to skyrocket in big cities. What will it take for politicians in these cities to get the message?

Last year, former San Francisco district attorney Chesa Boudin was thrown out of office for implementing radical, pie-in-the-sky policies that caused crime to rapidly increase. While many thought Boudin’s ouster in one of America’s most progressive cities would be a turning point, it was just a bump in the road for the radical soft-on-crime movement.

Walmart recently decided to shut down all of its stores in Portland, Ore., after months of record-breaking theft with no response from the local government. New York’s crime rate has been steadily increasing since the COVID-19 pandemic and the rise of the “defund the police” movement, after crime rates had been falling in the Big Apple for several years.

Just this month, the District of Columbia’s government had to be reprimanded by Congress for attempting to implement a policy that would’ve eliminated cash bail and reduced sentences for offenses such as carjackings – even though carjackings have been occurring at an astonishing rate in the district.

If Congress didn’t have the lawful yet unusual authority over the district to rescind the law, D.C. would’ve been yet another feather in the cap of anarchists.

Meanwhile, in Chicago, Lori Lightfoot became the first mayor to lose reelection in over 40 years as the rising crime in her city led to her downfall. Just a few days ago I visited Chicago, and it was obvious to me that Chicagoans have had to learn to adapt to the constant threat of violent crime.

One day as I left my hotel to grab some food, I could tell that I scared several people merely by walking past them. I noticed that a guy around my age slowed down to let me pass out of a sense of caution while putting himself between me and his girlfriend. An older Hispanic woman crossed the street to avoid me, and another man kept his distance at a crosswalk while looking at me from the corner of his eye.

But people weren’t just cautious of me, but also of each other. It was sad to see that the citizens of a once-great American city are unable to trust that a random stranger walking down the sidewalk won’t harm them.

Crime is a practical, everyday issue, like inflation, that people can palpably feel. And it’s one that Americans care deeply about. Politicians in American cities like these can turn the tide by refusing to kowtow to radical soft-on-crime activists, cracking down on theft and violent crime, and giving law enforcement the support they need to do their jobs effectively.

In fact, a recent survey sponsored by Our America found that 79% of Americans support stronger sentences for violent criminals. The survey also found that 75% of Americans want to fully fund the police so they can have access to the best tools, resources, and training available to protect and serve their communities. Clearly, Americans from all over the country want to support law enforcement and keep violent criminals behind bars.

Americans are clamoring for political leaders to take crime in their communities seriously. It is extremely difficult to pursue your dreams if you and your family are set back by the kind of violent or property crime that destroys people’s livelihoods. Americans deserve to live free from fear.

It’s time that big city governments listen to their citizens rather than to soft-on-crime activists.

Tyler Durden
Mon, 03/27/2023 – 21:00

Watch: Cubans Now Invading Florida By Air

Watch: Cubans Now Invading Florida By Air

Thousands of Cuban immigrants have arrived in the Florida Keys by boat in recent months. To address the surge, the state of Florida and the US Border Patrol have increased ground personnel. However, it now seems that migrants are turning to motorized hang gliders.

Chief Patrol Agent Walter Slosar tweeted over the weekend that two Cuban immigrants were taken into custody after landing a powered hang glider at the Key West International Airport. 

Local 10 News obtained a video from a Key West resident showing the migrants in US airspace. 

A witness said: 

“I actually heard it first. I heard that glider in the air (and) I heard the motor.

 “I actually looked up because it shouldn’t be where it was, that’s in the path of Key West Airport,” said Christopher Herrera.

Local pilot Nick Pontecorvo told the media outlet:

“It was pretty awesome. To make that flight 90 miles over open ocean, especially with the wind, that takes a lot of courage,” Pontecorvo said.

The use of ultralight aircraft by migrants to evade ground-based border patrol agents seems to be a new and worrisome development amid the ongoing invasion by boat across the Keys

Tyler Durden
Mon, 03/27/2023 – 20:40

Victor Davis Hanson: Who Owns The University?

Victor Davis Hanson: Who Owns The University?

Authored by Victor Davis Hanson via AmGreatness.com,

The megalomania of the current crop of students, faculty, and administrators at our radical universities blinds them to the claims of their generations of benefactors…

The most recent shout-down debacle at Stanford’s law school, one of many such recent sordid episodes, prompts the question: “Who owns our universities?” 

The law students who are in residence for three years apparently assume they embody the university. And so, they believe they represent and speak for a score of diverse Stanford interests when they shout down federal Judge Kyle Duncan, as if he were an intruder into their own woke private domain. 

After all, Stanford, like most of the Ivy League universities, is a private institution. Are then its board of trustees, its faculty, its students, and its administration de facto overseers and owners? 

Not really. 

In the case of public institutions of higher learning, there is no controversy: The people own the university and, through their elected representatives, pay for and approve its entire budget.

Again, through their selected regents and overseers, the taxpayers adjudicate the laws of these universities.  

But private universities, while different, are not really so different.  

Take again Stanford as a typical example.

It receives about $1.5 billion per year in federal taxpayer grants alone to its various faculty, labs, research centers, and programs. 

Its annual budget exceeds $8 billion. If Stanford accepts such huge federal and state direct largess, do the taxpayers who provide it have some say about how and under what conditions their recipients use their money? 

Second, the university also has accumulated a $36 billion endowment. At normal annual investment returns, such an enormous fund may earn well over $2 billion a year.  That income is almost all tax-free, based on the principle that Stanford is a nonprofit, apolitical institution. 

But is it

One could imagine what would have happened had, say, a radical abortion proponent been shouted down at Stanford Law School. Further, conceive that conservative law students had called her scum and wished for her daughters to be raped. Envision obscene placards flashing in her face—before she was stopped speaking entirely by a conservative Stanford dean who hijacked her talk and informed the pro-abortion speaker that she more or less asked for such a mob reception. The perpetrators, we know, would have been expelled from the law school within 24 hours, and the dean fired in 12. And, alternately, had the architects of this real, vile demonstration faced an open hearing, where evidence of the event was presented, and had been found guilty of violating university policy and then had been expelled and ostracized from the law school, even after much chest-thumping and performance-art braggadocio, it is unlikely the debacle would be repeated. 

Third, the federal government through subsidies and guarantees is liable for over $1.6 trillion in aggregate student loans. Thousands of Stanford undergraduate and graduates are among those indebted and could not attend the university without such taxpayer largess. 

To take a hypothetical, if some 16,000 undergraduate and Stanford graduate students carried on average $20,000 in federally backed student loans, the Stanford student community could be carrying a third of a billion dollars in federal loan guarantees.  

In other words, the private universities of the United States are really not so private at all. They rely on billions of dollars in federal and state research subsidies and grants; billions of dollars in tax-exempt annual income from their endowments; and hundreds of billions of dollars in federally backed student loans that allow them to charge exorbitant tuition at above the annual inflation rate from leveraged and indebted students.  

Given those huge public investments, should not the public have some say in how these universities are run? 

After all, Stanford, and thousands of private universities like it, are not Hillsdale College. Hillsdale long ago lost trust in federal and state government due to their efforts to use their partial funding as a means of politically leveraging the college. And therefore, it has refused all public monies ever since. 

Left-wing major colleges or universities have not done the same because they rightly assume the federal government shares their commitment to radical progressive change. And thus, Washington gives them free rein to discriminate in admission, housing, and hiring, as well as to suspend constitutional protections for faculty and staff—if in service to progressive-regressive agendas. 

But that was then, and this is now. If Stanford’s sordid law school psychodrama taught us anything, it was that the law school mob felt they could threaten, smear, scream, disrupt and shut down a public speaker and do so with complete impunity. And they were right on all counts. 

But if the public “owns” much of private universities given the colossal amount of money it provides them, could the public at last insist that all colleges, public and private, simply abide by the laws of the land? 

That adherence would mean universities, to continue their taxpayer revenue streams, would pledge not to discriminate in their hiring and admissions on the basis of race, gender, or sexual orientation. That public insistence would prompt revolutionary changes on campus. 

Stanford, for example, laudably recently deplored its past antisemitic admissions practices of the 1950s that deliberately restricted the number of Jews who qualified for admission. The university had institutionalized discrimination on the logic it did not want too many Jews on campus, as part of its social engineering to achieve the “correct” student body. Amid its current apologies, Stanford added that in the 1950s it had not been transparent in its warped discriminatory admissions but had either denied or sought to hide its bias.  

Amid its apologies for past discrimination, the university has announced that its incoming class of 2026 includes 22 percent described as “white.” Yet that percentage (remember the university, not us, the public, is obsessed with  categorizing people by race), is less than a third of the percentage of so-called whites in the general public. 

Has this particular group suddenly suffered collectively an epidemic of low grades, poor test scores (on now optional tests for admission) or poor community service and extracurricular activities? 

Would that decline explain why it is so suddenly and vastly “underrepresented”? 

Surely a university currently and loudly apologizing for its past ethnic, racial, and religious discrimination against Jews would not simultaneously, but quietly, begin doing nearly the exact thing some 70 years later

For that matter, since when do universities, public or private, deliberately warp the spirit of the 1964 Civil Rights Act by institutionalizing racially separate graduation ceremonies, racially segregated dorms (“theme houses”), and safe spaces? 

All the legalese universities employ to skirt both state law and federal statutes prohibiting segregation and discrimination—and it is a multibillion industry—cannot hide the fact that in many ways campuses are emulating the spirit and practice of the Old Confederacy and postbellum Jim Crow South, according to the infamous “1/16” or  the “one-drop” rule, to adjudicate hiring and admission, and the apartheid practice of directing particular races to “separate but equal” housing.

Should not private universities also pledge to follow the Bill of Rights and provide constitutional protections for its university community? 

That would mean if a university could not guarantee the right for invited speakers to finish their lectures without being shouted down, physically intimidated, or met with obscene and pornographic slurs and placards, the university then would be liable to suspension of its federal funds. 

Recently, Stanford admitted that it allowed a Stasi-like “snitch” program on campus in which anonymous complainers can lodge complaints against allegedly biased remarks by faculty, staff, or administrators. But is not a hallmark of the U.S. legal system that the accused has a constitutional right to face his accuser? 

In fact, most private universities suspend a great number of constitutional protections when its constituents are accused either of sexual harassment or insensitive speech. Students, especially, in campus hearings are not always allowed to meet their accusers, to cross examine accusations and evidence, or to have legal counsel at all times. 

Should the taxpayers not insist that campuses ensure their communities the same rights of due process, of protection from double jeopardy, of rules of evidence and cross examination as enjoyed by the general public who funds them?  

It is not just the American taxpayer who funds public and even private universities, but alumni and donors as well. The students who shouted down Judge Duncan as “scum” and hoped his daughters were raped are likely at Stanford with at least partial financial support. Many of those endowments are sustained by generous donors. And they too remain a part of the university community, along with faculty, administrators, and various boards of trustees. 

The present radicalization of the campus is based on the egotistical assumption that transitory students own colleges. They believe, by their snobbery (one law student yelled at Judge Duncan that the judge couldn’t get into Stanford Law School) and ephemeral presence on a current campus, that they are the one and only “Yale,” or they are the real “Stanford.” Therefore, they believe they have the right to dictate to—or follow the whims of—their equally transitory radical administrators. 

But for such a claim of ownership to be true, universities would have to self-fund, to raise all their own research dollars, to provide their own loans to their own students—and then to announce that they have no need of all the generous donors who supplied their wherewithal, and all the vast majority of students who do not disrupt, slur, slander, smear, and resort to violence, but do pay their tuition bills and thereby also help ensure viable universities. 

So, who owns American higher education? 

Almost everyone who pays for this now peculiar institution – a fact that the current ungracious woke activists who are passing through colleges are too dense in their megalomania to grasp.

Tyler Durden
Mon, 03/27/2023 – 20:20

CFTC Calls Ether A Commodity In Binance Suit, Highlighting Complexity Of Classification

CFTC Calls Ether A Commodity In Binance Suit, Highlighting Complexity Of Classification

By Derek Anderson of CoinTelegraph

The suit claims Binance used Ether as a commodity in its financial products, experts explained, which says little about the basic nature of the coin…

The United States Commodity Futures Trading Commission (CFTC) filed suit against Binance on March 27 for violations of the Commodities Exchange Act and CFTC regulations. Those violations included transactions with Ether (ETH), according to the suit. This claim, at first glance, touched on a notable point of contention between the CFTC and the Securities and Exchange Commission (SEC). 

The CFTC claimed in its suit that Binance engaged in transactions with “digital assets that are commodities including Bitcoin, Ether, and Litecoin for persons in the United States.” That was not a new position for the agency. The CFTC claimed ETH was a commodity in its suit against FTX in December and chair Rostin Behnam stated his opinion that ETH and stablecoins were commodities as recently as March 8 in a Senate hearing.

The CFTC position on ETH was fairly uncontroversial before the Ethereum Merge; after Ethereum moved to a proof-of-stake consensus mechanism, SEC chair Gary Gensler commented on staking coins that “From the coin’s perspective […] That’s another indicia that under the Howey test, the investing public is anticipating profits based on the efforts of others.”

Gensler’s comment brought on a slow wave of reactions. In February, for example, Ethereum co-founder and crypto entrepreneur Joseph Lubin told Cointelegraph, “Staking is not a security,” and it would be a “terrible path for the U.S.” to make it so. He added that he thought the U.S. courts would agree with him and “there would be a tremendous outcry from not just the crypto community but different politicians and certain regulators,” if ETH were classified as a security.

The CFTC case against Binance does not rest on the nature of ETH as much as the nature of Binance products, however, limiting its applicability to the larger argument.

In this particular case, ETH is being treated as a ‘commodity’ rather than a ‘security,’” Timothy Cradle, director of regulatory affairs at Blockchain Intelligence Group, told Cointelegraph. “The complaint references securities as they relate to swaps.” Cradle added:

“The economics of an offering including ETH could still change the definition applied to the token. For example, ETH staking could still be construed as an investment contract, and as such a security.”

Some transactions, such as mixed swaps involving ETH, could be subject to regulation by both the SEC and CFTC, Cradle said, but that “would not necessarily define ETH itself as a security as mixed swaps also include commodities and currencies.”

This more complex approach to regulation would not necessarily imply cooperation between the two agencies. Yankun Guo, partner at law firm Ice Miller, said of the situation in a statement to Cointelegraph:

“It shows that both the multifaceted nature of how tokens function and how they are used can cause them to be fall under multiple agency’s jurisdiction; […] I wouldn’t be surprised to see a similar lawsuit by the SEC naming all the same tokens except BTC as securities.”

Tyler Durden
Mon, 03/27/2023 – 19:00

Viagra Sales Went Soft As Exclusivity Expired

Viagra Sales Went Soft As Exclusivity Expired

25 years ago, on March 27, 1998, the U.S. Food and Drug Administration (FDA) approved Viagra for treatment of male erectile dysfunction. With its distinct blue diamond shape, Viagra quickly gained notoriety and became deeply ingrained in popular culture. For Pfizer, the drug was an instant success, surpassing $1 billion in global sales in its second year on the market and remaining one of the company’s best-selling drugs for years to come.

Originally studied for use in hypertension (high blood pressure) and chest pain associated with coronary heart disease, sildenafil, which is the generic name of the drug later marketed as Viagra, was found to sometimes induce penile erections during clinical trials. Seeing an opportunity, Pfizer decided to study and market it for erectile dysfunction, in a move that became a textbook example of drug repositioning.

However, as Statista’s Felix Richter reports, while Viagra is still one of the most recognizable drugs in the world and synonymous with sexual performance enhancement, its success story began to fade in 2013 when Pfizer’s patent on the use of sildenafil in erectile dysfunction expired in the European Union. Around the same time, the company was involved in a patent lawsuit in the United States, which resulted in a settlement allowing Teva Pharmaceuticals to launch a generic version of Viagra in December 2017.

As Statista’s chart illustrates, the loss of exclusivity in major markets such as Europe, Japan and most importantly the United States had a significant effect on Viagra sales, which declined by almost 70 percent between 2012 and 2018.

Infographic: Viagra Sales Went Soft as Exclusivity Expired | Statista

You will find more infographics at Statista

25 years after its initial approval, Viagra is no longer part of Pfizer either.

In 2020, the company’s off-patent branded and generics business Upjohn, which included Viagra, was spun-off and combined with Mylan to create a new company called Viatris.

Tyler Durden
Mon, 03/27/2023 – 18:40

Beware Liberals And Conservatives Delivering ‘Catastrophic News’

Beware Liberals And Conservatives Delivering ‘Catastrophic News’

Authored by John Tamny via RealClear Wire,

It’s little known today, but a major driver of Henry Ford’s interest in machines was an aversion to work. And horses. Born into a farming family in Michigan, Ford’s migration away from “the land” was rooted in a desire to avoid the dawn-to-dusk toil that defined life for an overwhelming majority in the 19th century.  

So, while Ford is most known for having democratized access to the automobile, it’s less known that Ford Motor Company also mass-produced tractors. 650,000 in 1927 alone. In his words, “What a waste it is for a human being to spend hours and hours behind a slowly moving team of horses in the same time a tractor could do six times as much work.”

Ford’s intimate knowledge of how machines multiply human productivity while reducing time on the job came to mind while reading Washington Post columnist Max Boot’s recent assertion that “Russia is in a demographic death spiral.” Who is the source of Boot’s pessimism, or optimism? It’s none other than American Enterprise Institute fellow Nicholas Eberstadt.

Eberstadt is the leader of a strain of conservatives thoroughly convinced that the main crisis awaiting us is a consequence of people in more developed countries choosing to have fewer kids. Eberstadt is to “demographic death spiral” what Michael Mann is to “catastrophic global warming.” Both have flocks to feed, and feed them they do with narratives that actual market signals formed by actual information thoroughly reject.

The global warmist in Mann promotes an endless picture of the world’s coastal cities literally going under water, all because the people in the well-to-do parts of the world now avail themselves of cars, air conditioners, and other mechanized advances that make living so pleasurable today. The only problem with Mann’s preaching about the hell that awaits us is that human migratory patterns and pesky market prices disagree. At present something north of 45% of the world’s population lives in coastal areas, and the previous number is expected to grow.

In concert with this migration to coastal cities allegedly set to go under water is a rather evident surge in the price of real estate. Yes, you read that right. In the global locales that Mann and his warming crowd claim will be washed away, the cost of dwellings on what’s set to be washed away grows and grows.

It makes you wonder…about Mann. Smart as he surely is, he can’t possibly know more than the markets. And if you doubt the latter, he surely can’t have anywhere close to the combined knowledge of half of the world’s population.

Which brings us back to Boot. Under the sway of Eberstadt, he’s convinced that Russia’s birthrate of “only 1.5 children per woman” has it as previously mentioned “in a demographic death spiral.” Except that people are not static creatures. They’re instead dynamic parts of an increasingly global whole.

The 1.5 Russian children per women being born today are entering a world in which every good and service produced within it is a beautiful consequence of intensely sophisticated global cooperation. To use but one of countless examples, Boeing airplanes are comprised of millions of intricate parts manufactured around the world. And that only tells part of the story.

To see why, think back to Ford and his fascination with machines. He yet again understood that machines multiply human effort. A man working today can do the work of hundreds and realistically thousands of men born when Ford was. Throw in technology that increasingly thinks for us, and it’s easy to see that the babies being born today will be the productive equivalent of tens of thousands born when Ford was in 1863.

Yet Boot think’s Russia days are numbered because of “1.5 children per woman”? How much time did it take for him to read the “fascinating report” written by Eberstadt in which the “demographic death spiral” was bruited as a negative factor for so many developed countries, and by extension, the world?

The good news for Boot is that age 53, he’s got time to make up for time wasted on a pessimistic assessment of the future that is mocked by markets (watch investment flows, including a surge of investment into low-birthrate countries like the U.S. and South Korea), machines, and simple common sense. What’s true for Boot is happily true for Eberstadt too, age 67. Indeed, with machines increasingly thinking for us, it’s only a matter of time before man aided by machines unlocks the secrets to ever longer life.

It’s all a reminder that contra the pessimists, the only threat to people who populate the “closed economy” that is the world is a lack of freedom. Everything else will be taken care of by the very market forces that presently look disdainfully at catastrophic fear-mongering promoted by the dominant ideologies.

*  *  *

John Tamny is editor of RealClearMarkets, Vice President at FreedomWorks, a senior fellow at the Market Institute, and a senior economic adviser to Applied Finance Advisors (www.appliedfinance.com). His latest book is The Money Confusion: How Illiteracy About Currencies and Inflation Sets the Stage For the Crypto Revolution.

Tyler Durden
Mon, 03/27/2023 – 18:20

In “Huge” Chinese Push By Aramco, World’s Biggest Oil Producer Will Build $10BN Petrochemical Complex, Buy 10% Stake In Top Chinese Refinery

In “Huge” Chinese Push By Aramco, World’s Biggest Oil Producer Will Build $10BN Petrochemical Complex, Buy 10% Stake In Top Chinese Refinery

In what has been dubbed a “HUGE push” by the Saudi state-owned petrochemical giant into China’s economy, Saudi Aramco surprised the world with a double-header of pro-China news: first, Aramco said it will build a $10 billion refinery in China and, just hours later, it revealed that it would acquire a stake a 10% stake in a Top Chinese oil refinery.

The news come as Saudi Arabia is on the verge of dethroning the petrodollar and accepting payment in Yuan for Chinese oil sales.

Let’s dig deeper.

Over the weekend, Saudi Aramco – world’s biggest oil producer – announced plans to build a $10-billion refining and petrochemical complex in China’s northeast over the next three years, accelerating a development that was paused during the pandemic, and taking advantage of the country’s growing demand for energy. According to the Aramco news release, the complex will have a capacity of 300,000 barrels of crude daily, and OilPrice adds that the Saudi major will supply 201,000 barrels per day to the facility.

The project will be carried out in partnership between Aramco and two Chinese companies. Construction works should begin in the second half of this year, with the project scheduled for completion in 2026.

“This important project will support China’s growing demand across fuel and chemical products. It also represents a major milestone in our ongoing downstream expansion strategy in China and the wider region, which is an increasingly significant driver of global petrochemical demand,” said Aramco’s head of downstream, Mohammed Al Qahtani.

The news follows a report from December last year according to which Aramco had struck a deal with China’s Sinopec to build a 320,000-bpd refinery and petrochemical cracker in China, highlighting the latter’s major role in global oil consumption yet again.

Then, one day later, Aramco also unveiled that it has agreed to buy a 10% stake in a giant oil complex in China for 24.6 billion yuan ($3.6 billion), in exchange for securing sales to one of the country’s largest refineries.

Aramco will also supply 480,000 barrels of crude oil per day to Rongsheng Petrochemical Co’s refinery in the eastern province of Zhejiang over a 20-year period, according to a statement from the Chinese company. Aramco will also provide a credit of $800 million to Rongsheng for the purchase, that statement said.

Refining and petrochemical investments have been a priority for Aramco as it seeks to secure long-term demand for its main product, even as it expands local refining capacity as well. According to the International Energy Agency and other forecasters, a bet on petrochemicals is a good long-term bet in the oil industry amid expectations of a decline in oil demand for transport fuels. The IEA has projected that petrochemicals will account for more than a third in oil demand growth by 2030, rising to 50% of demand by 2050 as transport electrifies

Tyler Durden
Mon, 03/27/2023 – 18:00

“Power At Every Level”, Brags Chicago Teachers Union, As 200 Members Skip School For Political Workshop

“Power At Every Level”, Brags Chicago Teachers Union, As 200 Members Skip School For Political Workshop

Authored by Mark Glennon via Wirepoints.org,

“We’re gonna have to teach the city of Chicago how to redefine transformation, how to redefine renaissance,” said Chicago Teachers Union President Davis Gates in her opening remarks, and the day naturally started with the CTU’s own organizer and Chicago mayoral candidate, Brandon Johnson, who got a standing ovation.

Some 200 CTU members skipped school Thursday for what’s supposedly an annual delegates’ training conference, but the CTU’s own description makes clear it was about expanding its vast political goals — through schools.

A conference workshop

“Power At Every Level” Delegates Conference” is the the CTU’s own headline on their description.

It was a day full of workshops and training “about building power from the school buildings to the district and charter networks to the highest levels of political power in the city,” the CTU says. One session was on the CTU’s three-year strategic plan, which was about “how mobilizing in school buildings is critical to realizing the full potential of this particular moment….” It went on:

Winning the mayor’s office is, of course, a high priority, but it’s just one piece of the puzzle. Everything we do builds on the organizational foundations we forge in our school buildings and communities across the city, and this is what will make our three-pronged strategy of mayoral representation, bargaining strong charter and district contracts, and winning a pro-educator elected school board a reality.

Another session was about why school leadership needs to “build power” on topics that included “Teaching Through Trauma,” “Green Schools,” and “Assertive Grievance Handling.”

CTU organizer Brandon Johnson faces Paul Vallas in Chicago’s mayoral election on April 4.

Tyler Durden
Mon, 03/27/2023 – 17:40

Baltimore Lawmakers Unite To Stop Biden’s EPA From Sending Toxic Ohio Train Waste To Facility

Baltimore Lawmakers Unite To Stop Biden’s EPA From Sending Toxic Ohio Train Waste To Facility

Baltimore Democrats are furious over the Biden administration’s Environmental Protection Agency’s (EPA) decision to transport toxic water from East Palestine, Ohio, to a water treatment facility in Baltimore County.

On Monday morning, Baltimore City Councilman Zeke Cohen (D-1) called on the EPA to reverse its decision to transport 675,000 gallons of toxic water to the Back River Wastewater Treatment Plant for the treatment and eventual discharge into the local water system. 

Cohen stated: 

Too many neighborhoods in Baltimore are already overburdened with pollution, we are at a tipping point for the health of the Chesapeake Bay, and our City’s trust in the Back River facility’s ability to process this water was shaken by the March 15 explosion

Under the Biden Administration, the EPA has rightfully committed itself to environmental justice. Now is their chance to prove that commitment by rescinding approval of this plan,” Cohen wrote in a statement. 

At last, city Democrats and county Republicans have found common ground on an issue:

“As a member of the Environment and Transportation Committee, I have heard countless hours of testimony regarding the continual failures at the Back River Wastewater Treatment Plant in Dundalk.

“This treatment plant has a history of sewage overflows. They certainly should not be trusted to process toxic waste into Maryland’s greatest natural resource,” Baltimore County delegates Kathy Szeliga (R) and Ryan Nawrocki (R) said in a joint statement over the weekend. 

Democratic Maryland Sen. Chris Van Hollen also said he is concerned with the Biden EPA’s plan to process toxic chemicals so close to the Chesapeake Bay. 

Last week, EPA administrator Michael Regan said it was “impermissible and … unacceptable” for states to block shipments of the toxic chemicals. 

Tyler Durden
Mon, 03/27/2023 – 16:41