“Couldn’t Come at a Worse Time”: Putin Declares War on American Oil Production

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By Bloomberg. “The Kremlin has decided to sacrifice OPEC+ to stop U.S. shale producers and punish the U.S. for messing with Nord Stream 2,” said Alexander Dynkin, president of the Institute of World Economy and International Relations in Moscow, a state-run think tank. “Of course, to upset Saudi Arabia could be a risky thing, but this is Russia’s strategy at the moment – flexible geometry of interests” . . .

When the coronavirus started devastating Chinese economic activity in early February – cutting oil demand in Saudi Arabia’s biggest customer by 20% — Prince Abdulaziz tried to convince [Russian Energy Minister Alexander] Novak that they should call an early OPEC+ meeting in response to cutback supply. Novak said no. The Saudi king and Putin spoke by phone ­­– it didn’t help. . .

In the short run, Russia is in a good position to withstand an oil price slump. The budget breaks even at a price of $42 a barrel and the finance ministry has squirreled away billions in a rainy-day fund. Nonetheless, the coronavirus’s impact on the global economy is still unclear and with millions more barrels poised to flood the market, Wall Street analysts are warning oil could test recent lows of $26 a barrel. (Read more from “Putin Declares War on American Oil Production” HERE)
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Opening the Floodgates of Oil Production Forcing Prices Down

By Brian Sullivan. Vladimir Putin just sparked what could end up being one of the ugliest oil price wars in modern history, and American oil and gas companies may be the victims.

This weekend Saudi Arabia dropped the oil bomb. It not only cut its forward crude price to Chinese customers by as much as $6 or $7 per barrel, but is also reportedly looking to raise its daily crude output by as many as 2 million barrels per day into an already oversupplied global market. Look out below.

The move by the Saudis is both a market share grab and a loud signal to Moscow that it’s done playing games. The dramatic action is in response to a contentious, and ultimately failed, OPEC meeting in Austria on Friday. OPEC members laid out a proposal to further cut oil output quotas by as much as 1.5 million barrels per day. [And it] couldn’t occur at a worse time. Coronavirus is already slamming global oil demand and crude prices have fallen 30% this year . . .

It′s not media hyperbole to call what happened this weekend in the oil markets “historic.” When the Russians walked out of OPEC’s Austria headquarters, it suddenly became every country – and every U.S company – for itself. A race to the top in production and a race to the bottom in prices. (Read more about the oil production crisis HERE)

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US Oil Production May Prove Resilient

By Jason Lemon. Under Trump, the U.S. has surpassed Saudi Arabia and Russia to become the world’s biggest oil producing nation, largely spurred by the expansion of fracking. Saudi Arabia had tried unsuccessfully to flood the oil market and reduce prices drastically to maintain its dominance back in 2014. But U.S. production proved more resilient than the Saudis anticipated.

Some analysts are suggesting that Russia may similarly be underestimating or misunderstanding how the U.S. oil industry will respond.

“While the crash in oil prices that began in late 2014 [due to Saudi Arabia flooding the market] did ultimately result in hundreds of shale producers declaring Chapter 11 bankruptcy, the net result of that process is that most of those companies reorganize themselves and come back with far less debt load,” David Blackmon, an independent energy analyst and consultant, wrote for Forbes.

“The strategy also fails to recognize that most producers have already put hedges in place for most of their equity production through the remainder of 2020 and beyond,” he noted. (Read more about how US oil production may respond HERE)

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Quarter of Italy’s Population Quarantined Due to Coronavirus

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Italy has shut down the entire region of Lombardy and an additional 14 northern and central provinces, quarantining a quarter of the nation’s population, as the country faces the worst outbreak of the Wuhan coronavirus in Europe.

Over 16 million people, including those in Milan and Venice, will be banned from travelling, barring those with special permission, under the government’s strict quarantine measures.

Public spaces such as schools, nightclubs, museums, gyms, ski resorts, and swimming pools will all be closed until at least April 3rd.

Large events such as weddings, funerals, and cultural and religious events will also be banned during the quarantine, according to to the BBC.

Restaurants and cafes will be permitted to be open between six in the morning and six in the evening, but customers will be forced to sit at least one meter (3 feet) apart from each other.

(Read more from “Quarter of Italy’s Population Quarantined Due to Coronavirus” HERE)

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Olympics Officials Discuss Holding Summer 2020 Games Without Spectators Amid Coronavirus Fears

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Medical officers from various sports federations which run the Olympics have discussed with the World Health Organization the possibility of holding the 2020 summer Olympics without spectators.

In a conference call that took place last week, officials brought up a worst-case scenario in which the Wuhan coronavirus outbreak would threaten the health of thousands of spectators expected to fill stadiums at the games in Tokyo, Japan, the New York Times reported on Thursday. If spectators are permitted, medical officials would have to create a screening process to check fans and athletes to detect and prevent the spread of coronavirus. . .

Japan Olympic minister Seiko Hashimoto has insisted that the country will go forward with the Olympics this summer. Tokyo’s contract with the International Olympic Committee states that the IOC reserves the right to cancel the event if “the safety of participants in the Games would be seriously threatened or jeopardized for any reason whatsoever.” (Read more from “Olympics Officials Discuss Holding Summer 2020 Games Without Spectators Amid Coronavirus Fears” HERE)

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All of Italy’s Regions Infected With Coronavirus; U.S. Death Toll Climbs to 11

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By Breitbart. All of Italy’s regions are now infected with the coronavirus, according to the head of Italy’s Civil Protection, Angelo Borrelli, who provided the latest data during a press conference on Thursday.

A total of 3,858 people have been infected with the coronavirus, which is an increase of 590 more people than Wednesday, and 148 more deaths, an increase of 41 more deceased than Wednesday, according to a report by La Repubblica.

Italy’s 20 regions — which are similar to states in the U.S. — are all infected with the coronavirus, as of Thursday. Just last week, only half of Italy’s regions were infected. The disease is mostly concentrated in northern regions, such as Lombardy (2,251), Emilia-Romagna (698), and Veneto (407).

“So far, 10.7% of the total of those who contracted the coronavirus have recovered, the dead is at 3.8%,” said Borrelli.

“There are no critical issues in our hospitals, including those in Lombardy who are overworked,” he added. (Read more from “All of Italy’s Regions Infected With Coronavirus” HERE)

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U.S. Death Toll Climbs to 11

By VOX. Washington state:

41 cases
10 deaths
1 out of 41 recovered

California:

38 cases
1 death
2 out of 38 recovered

New York:

25 cases

Illinois:

5 cases
2 out of 5 recovered

Florida:

4 cases

(Read more from “U.S. Death Toll Climbs to 11” HERE)

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Despicable Chinese Cover-Up Started in December, More Evidence Coronavirus is an Escaped Bioweapon

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By New York Post. Chinese scientists knew about the coronavirus and its deadly effects as early as December — but were ordered by government officials to suppress the evidence, according to a report.

In late December, several genomics companies tested samples from sick patients in Wuhan — the center of the coronavirus outbreak — and noticed alarming similarities between their illnesses and the 2002 SARS virus, the Sunday Times of London reported, citing Chinese business news site Caixin Global.

The researchers alerted Beijing of their findings — and on Jan. 3, received a gag order from China’s National Health Commission, with instructions to destroy the samples.

Rather than hunkering down to contain the virus, Wuhan officials went ahead with their annual potluck dinner for 40,000 families. (Read more from “Despicable Chinese Cover-Up Started in December, More Evidence Coronavirus Is an Escaped Bioweapon” HERE)

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Coronavirus Taking a Toll on Chinese Restaurants in New York

By New York Post. Even the Big Apple’s most beloved Chinese restaurants are in critical condition as the coronavirus keeps customers at bay.

Restaurant owners, the people who work for them and city lawmakers say business at Chinese-owned establishments has plummeted by as much as 60 percent as the global pandemic spreads. Some restaurants in Queens have closed, possibly for good, sources said.

“It’s been terrible for business,” said Thomas Lo, a co-owner of Spy C Cuisine of Forest Hills, Queens, which opened in 2018 and garnered a coveted spot in this year’s Michelin Guide. “We’ve had a steady increase in business since we opened, and then coronavirus hit,” said Lo, who is an anesthesiologist by day and a chef by night.

“None of our food comes from China, but that doesn’t matter to diners. I don’t know what motivated the scare. A lot of it is misinformation,” said Lo, who says business at Spy C is down more than 50 percent from a month ago. (Read more from “Coronavirus Taking a Toll on Chinese Restaurants in New York” HERE)

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U.S. Places New Restrictions on Chinese Journalists

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In a briefing to reporters on Monday, senior Trump administration officials announced a set of restrictions to be placed on Chinese journalists operating in the United States.

Why it matters: The unprecedented restrictions are aimed at upholding “reciprocity” in U.S.-China relations amid a deteriorating media environment in China, the officials said.

Details: U.S. administration officials said that two types of restrictions will be put into place in the coming weeks.

The administration will place a duration of stay on all Chinese nationals who are in the United States on I visas, the visa type given to foreign media workers. They will be eligible to request extensions when their visas expire.

The five Chinese state-run media outlets that were recently designated by the State Department as “foreign missions” will now face a limit on the total number of Chinese nationals working for them in the United States at any given time.

(Read more from “U.S. Places New Restrictions on Chinese Journalists” HERE)

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First U.S. Coronavirus Death; Iranian Coronavirus Deaths Way Higher Than Government Admits; 3 New Cases of Unknown Origin In U.S.; Pandemic Preppers Arm Up, ‘Person With The Most Ammo Wins’

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By KIRO 7. The Washington Department of Health confirmed Saturday the first coronavirus-related death in the United States, a King County man in his 50s.

The man who later died arrived at EvergreenHealth Medical Center in Kirkland with “serious respiratory issues” and later tested positive for COVID-19 (coronavirus), King County Public Health said. Officials said the man also had underlying health conditions, although they declined to say what the conditions were, citing patient privacy.

“It is a sad day in our state as we learn that a Washingtonian has died from COVID-19,” Gov. Jay Inslee said in a statement. “Our hearts go out to their family and friends. We will continue to work toward a day where no one dies from this virus.”

The man had no history of travel or contact with a known coronavirus case, meaning the case was acquired through “community transmission” in the Seattle area, said Dr. Jeffrey Duchin, health officer for Public Health – Seattle & King County. (Read more about first coronavirus deaths HERE)

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Iranian Coronavirus Deaths Far Higher than Official Number

By Breitbart. BBC Persian cites Iranian health sources who claim that at least 210 people may have died from the coronavirus in Iran. If true, that is significantly higher than the official death toll of 34.

Health sources in Iran told reporters with BBC Persian that at least 210 patients in that country died from the Covid-19 coronavirus. The Iranian government denies the number and claims that only 34 have died. Either way, it is the largest number of coronavirus deaths in any country outside of China.

Iranian Health Ministry spokesman Kianush Jahanpur rejected that report and stood by the official death reports placing the number of decedents at 34, Reuters reported on Friday.

However, Iranian Member of Parliament Gholamali Jafarzadeh Imenabadi contradicted the government’s statement and claimed the real death toll in Iran is “much higher” than the official death toll, Alarabiya reports.

“I say this explicitly, the statistics presented so far are not true,” he said. The MP added that he has statistics from cemeteries about the death toll that reveal “horrific numbers.” (Read more from “Coronavirus Deaths May Be Much Higher Than Iranian Government Admitted” HERE)

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New Coronavirus Cases in California and Oregon Are Second and Third of Unknown Origin

By CNN. An older adult woman from California is the second case of unknown origin of the novel coronavirus, health officials in Santa Clara County said Friday.

The patient didn’t have any relevant travel history or exposure to another known patient, said Dr. Sara Cody, director of the county’s public health department. . .

Another case in Oregon reported Friday is thought to be from community transmission but health officials there said the Centers for Disease Control and Prevention needs to confirm the state’s positive test result.

The person is from Washington County and is being treated at a Kaiser Permanente hospital. (Read more from “New Coronavirus Cases in California and Oregon Are Second and Third of Unknown Origin” HERE)

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Pandemic Preppers Arm Up, ‘Person With The Most Ammo Wins’

By Washington Examiner. Some Washington big shots like others around the country are readying for the potential further outbreak of the coronavirus by stocking up on “prepper” goods, including pistols, rifles, and ammunition, and reaching out to camps where they can hide out.

“We’ve had a huge surge in interest from the virus,” said Drew Miller, who runs the Fortitude Ranch camp in West Virginia. Miller said his “survival community” in Colorado has filled up, and he is close to selling out memberships in West Virginia as concerns about the virus increase.

Stores that sell freeze-dried food and bullets have also seen a surge in sales.

Justin Anderson, the marketing director for Hyatt Guns in Charlotte, North Carolina, one of the nation’s largest, said ammunition is the top seller. “I’ve seen a notable spike in the purchase of bulk ammo, which is usually a barometer of people’s fear in these types of situations,” he said, adding, “The person with the most ammo wins.” . . .

“We have always been prepared for a pandemic,” he told us, explaining that his camps keep families apart so an infection won’t spread but are behind a wall for defense. “Lots of spread out buildings and shallow shelters (we have NO deep underground shelters) lets our members grab weapons and get to their assigned defensive position on the outer wall in a minute,” he said. (Read more from “Pandemic Preppers Arm Up, ‘Person With The Most Ammo Wins'” HERE)

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Breakthrough: Israeli Scientists Say They Will Have Coronavirus Vaccine ‘in a Few Weeks’

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Israeli scientists are on the cusp of developing the first vaccine against the novel coronavirus, according to Science and Technology Minister Ofir Akunis. If all goes as planned, the vaccine could be ready within a few weeks and available in 90 days, according to a release.

“Congratulations to MIGAL [The Galilee Research Institute] on this exciting breakthrough,” Akunis said. “I am confident there will be further rapid progress, enabling us to provide a needed response to the grave global COVID-19 threat,” Akunis said, referring to the disease caused by the novel coronavirus.

For the past four years, a team of MIGAL scientists has been developing a vaccine against infectious bronchitis virus (IBV), which causes a bronchial disease affecting poultry. The effectiveness of the vaccine has been proven in preclinical trials carried out at the Veterinary Institute. . .

“Our basic concept was to develop the technology and not specifically a vaccine for this kind or that kind of virus,” said Dr. Chen Katz, MIGAL’s biotechnology group leader. “The scientific framework for the vaccine is based on a new protein expression vector, which forms and secretes a chimeric soluble protein that delivers the viral antigen into mucosal tissues by self-activated endocytosis, causing the body to form antibodies against the virus.” . . .

But after scientists sequenced the DNA of the novel coronavirus causing the current worldwide outbreak, the MIGAL researchers examined it and found that the poultry coronavirus has high genetic similarity to the human one, and that it uses the same infection mechanism, which increases the likelihood of achieving an effective human vaccine in a very short period of time, Katz said. (Read more from “Breakthrough: Israeli Scientists Say They Will Have Coronavirus Vaccine ‘in a Few Weeks'” HERE)

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President Trump Announces End of War in Afghanistan

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By Mujib Mashal. The United States signed a deal with the Taliban on Saturday that sets the stage to end America’s longest war — the nearly two-decade-old conflict in Afghanistan that began after the Sept. 11 attacks, killed tens of thousands of people, vexed three White House administrations and left mistrust and uncertainty on all sides.

The agreement lays out a timetable for the final withdrawal of United States troops from Afghanistan, the impoverished Central Asian country once unfamiliar to many Americans that now symbolizes endless conflict, foreign entanglements and a potential incubator of terrorist plots. . .

The signing of the agreement in Doha, Qatar, which followed more than a year of stop-and-start negotiations and conspicuously excluded the American-backed Afghanistan government, is not a final peace deal and could still unravel.

But it is seen as a step toward negotiating a more sweeping agreement that some hope could eventually end the insurgency of the Taliban, the militant movement that once ruled Afghanistan under a severe Islamic code. (Read more about “Trump Announces End of War” HERE)
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By Townhall. It’s been seven days since a week long, reduction in violence agreement between the United States and the Taliban officially went into place. Since then, the U.S. has successfully monitored a lack of violence in the country, which encompassed roadside bombs, suicide bombs, rocket attacks and more, on the ground in Afghanistan.

As a result, President Trump announced Friday afternoon the United States will move to phase two of a long-term ceasefire agreement with the Taliban.

“Nearly 19 years ago, American service members went to Afghanistan to root out the terrorists responsible for the 9/11 attacks. In that time, we have made great progress in Afghanistan, but at great cost to our brave service members, to the American taxpayers, and to the people of Afghanistan. When I ran for office, I promised the American people I would begin to bring our troops home, and seek to end this war. We are making substantial progress on that promise,” President Trump released in a statement.

“Soon, at my direction, Secretary of State Mike Pompeo will witness the signing of an agreement with representatives of the Taliban, while Secretary of Defense Mark Esper will issue a joint declaration with the government of Afghanistan. If the Taliban and the government of Afghanistan live up to these commitments, we will have a powerful path forward to end the war in Afghanistan and bring our troops home,” Trump continued. “These commitments represent an important step to a lasting peace in a new Afghanistan, free from Al Qaeda, ISIS, and any other terrorist group that would seek to bring us harm. Ultimately it will be up to the people of Afghanistan to work out their future. We, therefore, urge the Afghan people to seize this opportunity for peace and a new future for their country.” (Read more from “President Trump Announces the U.S. Is Another Step Closer to Ending the War in Afghanistan” HERE)

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U.S., Taliban Set Peace Signing for America’s Longest War

By AP. . .The United States and the Islamists it toppled from power in Afghanistan are poised to sign a peace deal Saturday after a conflict that outlasted two U.S. commanders in chief and is now led by a third eager to fulfill a campaign promise to extricate America from “endless wars.”

More than 18 years since President George W. Bush ordered bombing in response to the Sept. 11, 2001, attacks, the agreement will set the stage for the withdrawal of U.S. troops, some of whom were not yet born when the World Trade Center collapsed on that crisp, sunny morning that changed how Americans see the world.

Saturday’s ceremony also signals the potential end of a tremendous investment of blood and treasure. The U.S. spent more than $750 billion, and on all sides the war cost tens of thousands of lives lost, permanently scarred and indelibly interrupted. Yet it’s also a conflict that is frequently ignored by U.S. politicians and the American public. (Read more from “U.S., Taliban Set Peace Signing for America’s Longest War” HERE)

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Pope Francis Sick the Day After Encouraging Coronavirus Victims

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By Breitbart. Just 24 hours after he expressed public support for the people suffering from coronavirus around the world, Pope Francis has fallen ill.

“I wish, again, to express my closeness to those who are ill with coronavirus and to healthcare workers who are caring for them,” Pope Francis said on Wednesday. He was visibly ill during the Ash Wednesday Mass, coughing and blowing his nose. And while he shook hands — and even kissed an infant — most parishioners appeared reluctant to physically interact.

On Thursday, the 82-year-old pontiff was forced to cancel a penitential Mass at St. John Lateran basilica that would have marked the beginning of Lent. While he still plans to continue his work, Francis “preferred to stay near [his residence in] Santa Marta,” while he is under the weather. (Read more from “Pope Francis Sick the Day After Encouraging Coronavirus Victims” HERE)

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Coronavirus Updates: Italy Reports 650 Cases and 17 Deaths

By NPR. Italy’s number of COVID-19 coronavirus cases spiked by more than 50% in just 24 hours and now stands at 650, the Italian Ministry of Health says, adding that 17 people have died from the respiratory virus. More than 400 of the cases are in the hard-hit Lombardy region, where some towns are under a lockdown.

Nearly 250 of the people who were infected are currently in the hospital, including 56 patients who are in intensive care, the Italian ministry says, citing a Thursday afternoon update from Angelo Borrelli, commissioner for the coronavirus emergency. Another 284 people who have been infected are in home isolation to try to stop the coronavirus from spreading further.

The outbreak of COVID-19 in Italy led the U.S. State Department to add concerns about the virus to its travel advisory for Italy this week. The advisory stands at Level 2: “exercise increased caution” – one level short of “reconsider travel.”

Alarmed by the virus’s potential impact on its economy, Italy’s government is urging foreign media to reassure people around the world that it’s safe to visit Italy. (Read more from “Coronavirus Updates: Italy Reports 650 Cases and 17 Deaths” HERE)

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