Bloomberg Energy Transfer Equity LP said that it was mobilizing equipment in preparation to drill the final portion of its controversial Dakota Access crude pipeline, even as an Obama administration official said no decision has been made on the project. The pipeline giant can’t actually drill the final piece of the oil line beneath Lake Oahe in North Dakota ...
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November, 2016
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13 November
Trump’s Mission Impossible?
Donald Trump, it seems, embraces the old dictum: Make no small plans. Already, he’s published an agenda for his first 100 days in office, recalling Franklin’s Roosevelt’s launching of the New Deal. Not surprisingly, near the top of Trump’s to-do list is a pledge to double economic growth from its recent desultory rate of 2 percent a year to ...
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13 November
Why science couldn’t predict a Trump presidency
For many people, Donald Trump’s surprise election victory was a jolt to very idea that humans are rational creatures. It tore away the comfort of believing that science has rendered our world predictable. The upset led two New York Times reporters to question whether data science could be trusted in medicine and business. A Guardian columnist declared that big ...
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13 November
Online, China finds an upside to ugly 2016 US poll campaign
China’s government isn’t shy about looking for ways to highlight democracy’s failings, and the U.S. presidential election provided plenty of raw material. Hillary Clinton’s e-mails, Donald Trump’s locker-room talk, the debates: Every low point was touted and cataloged on state media. On Election Day, the Communist Party’s official newspaper offered a closing argument: Trump versus Clinton was symptomatic of ...
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13 November
Defuse Venezuela’s economic time bomb
It is nothing short of a miracle that the members of Venezuela’s government and the opposition carried out a dialogue. Such a meeting would have been unimaginable two months back. The Vatican — which brokered the talks — needs to be lauded for making the impossible happen in a very conducive environment. Despite criticism from some quarters, the meeting ...
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13 November
Silicon Valley’s annoying secessionist fever dream
Many of the California tech industry’s leaders are unhappy with the outcome of the U.S. presidential election. This being Silicon Valley, they’ve come up with an innovative response: Secede from the union. It’s one idea I hope they won’t bring to fruition. California supported Hillary Clinton more than any other state, yet the election was called before its votes ...
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13 November
Everyone knew that Trump would win all along
The issue of hindsight bias and fooling ourselves about what we think knew a priori haunts investors constantly. We are reminded of this by those who claim they saw the financial meltdown coming. Despite the lack of proof, they remain convinced they knew what was about to happen all along. These folks are fooling themselves. Due to several cognitive ...
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13 November
Kenya is gleaming on Africa’s bright side
Matthew Winkler There’s been nothing but trouble for much of Africa as the price of oil plummeted 55 percent during the past two and a half years. But there’s a brighter side to the sub-Saharan continent. Unlike Nigeria, where oil accounts for more than 90 percent of exports, or South Africa, which never recovered from the 2008 financial crisis ...
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13 November
Egypt continues rally on IMF
Reuters Egypt’s stock market gained for a 12th straight session on Sunday after the International Monetary Fund approved a $12 billion loan for the country, while Saudi Arabia rose, bucking a downtrend in the rest of the Gulf. The IMF loan approval had been widely expected, but it added fresh fuel to a rally caused by Egypt’s decision to ...
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13 November
Analysts say Trump stocks rally could persist
New York / AFP Donald Trump’s shock win of the US presidency sparked a surprising rally on Wall Street this week that some believe could be a prelude to further gains. The response, which sent the Dow Jones Industrial record to all-time highs on Thursday and Friday, reflected expectations that pro-business policies and ramped-up public works spending would spur ...
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