France extends health emergency until July 24 as Europe mulls lifting lockdown restrictions. France’s minister of health has announced an extension of the public health state of emergency until July 24. The country was placed under emergency on March 24…
Exxon Posts First Loss in Three Decades
Exxon Mobil Corp. took a $2.9 billion writedown in the first quarter, resulting in a $610 million loss. The company’s earnings fell 126 percent in the first quarter ended March 31, down from the $2.4 billion profit it reported a year ago….
The FED Will Monetize Double The Total Treasury Issuance
For The First Time Ever, The FED Will Monetize Double The Total Treasury Issuance. While daytraders look transfixed at a stock market which continues to surge higher even as the US has lost around 22 million jobs in the past…
Science: Superconductivity – It’s hydrogen’s fault
Last summer, a new age for high-temperature superconductivity was proclaimed—the nickel age. It was discovered that there are promising superconductors in a special class of materials, the so-called nickelates, which can conduct electric current without any resistance even at high…
Hundred Fully Loaded Tankers Anchored Off Singapore, BP Reported $4 Billion Loss
Back in the late fall of 2014, when Saudi Arabia broke up OPEC for the first time and unleashed a torrent of crude oil on the world despite the protests of its fellow cartel members, oil prices crashed as a…
Break-even Oil Prices for 2020, Driller Diamond Offshore Filed for Bankruptcy
A sharp drop in oil prices adds to rating pressures for oil-exporting Middle East and Africa (MEA) sovereigns with vulnerable public and external finances, says Fitch Ratings. A slump in tourism, weakening demand for non-oil exports, and financial volatility associated…
Saudi Arabia is maneuvering to survive the oil price crisis
Saudi Arabia may have to borrow as much as $58 billion this year to cover a budget shortfall caused by the oil price slump, Bloomberg reports, citing Finance Minister Mohammed al-Jadaan. Al-Jadaan told media this week that the Kingdom might…
Lysol Maker Begs Public Not To Inject Its Cleaning Products After Dangerous Trump Advice
During last night’s press briefing, President Trump made some dangerous remarks about a new treatment involving ‘sunlight’ and ‘bleaching’ of the lungs to combat the virus. It appeared that during Thursday night’s presser, Trump was publicly spitballing about these treatments,…
Daimler Sees 70% Drop in 1Q Earnings, Renault and Hyundai Follow
Daimler AG (owner of Mercedes-Benz) sees first-quarter earnings plunge almost 70% as the coronavirus-related lockdowns have left its auto showrooms closed. The German luxury automaker announced that it expected preliminary adjusted first-quarter earnings before interest and tax (EBIT) to drop to…
Today is Earth Day
Earth Day 2020 could mark the year we stop taking the planet for granted. The 50th annual call for environmental reform falls at a time when the health of people and nature has never been more urgent. Fifty years ago…
GS Now Sees A 123% Plunge In Q2 S&P Earnings, $850 Billion Drop In Corporate Spending
With 9% of S&P 500 firms having already reported Q1 earnings including all of the major banks, results have generally disappointed relative to already tepid expectations. 43% of companies have missed consensus expectations, on pace for the highest rate since…
Historic Oil Crash Sends Canadian Oil Prices Negative, WTI To $11.05
When GS’s crude oil analysts turned apocalyptic last month, writing that “This Is The Largest Economic Shock Of Our Lifetimes”, they echoed something we said previously namely that the record surge in excess oil output amounting to a mindblowing 20…
Oil Glut – At Least 160 Million Barrels Are Held in Tankers
At Least 160 Million Barrels Are Held in Tankers Amid Lack of Onshore Storage. The pandemic and related self-isolation measures have triggered a massive fall in global demand for oil. Traders are now struggling to find storage space for excess…
Scientist Who Discovered HIV Says: “COVID-19 Could Only Have Been Created In A Lab”
As the mainstream media and politicians begin to raise or admit the possibilities that the source of COVID-19 was likely a lab in Wuhan (accidentally leaked or otherwise) – something we first brought to the world’s attention in January before being mocked, censored, and chastised –…
Italian Beachtowns Plan “Plexiglass Cages” To Enforce Safe And Social Distancing Sunbathing This Summer
Once the quarantine is over, there will be time to explore and observe how society has evolved rapidly. Well, by the time everyone makes it out of the house this summer, we all might be ushered back into quarantine by…