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  • Truck fire shuts major Maryland highway weeks after deadly tanker fire in the region | CNN

    Truck fire shuts major Maryland highway weeks after deadly tanker fire in the region | CNN

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    CNN
     — 

    A tanker crash sparked a massive fire on a Baltimore County interstate Friday morning, state police and local officials said, just weeks after a deadly tanker fire about 50 miles away.

    Firefighters stood back as a yardslong trail of bright orange and red flames roared from the pavement, fueling thick black smoke that rose into the predawn darkness, an image released by the Baltimore County Fire Department shows.

    The tanker overturned and was the only vehicle involved in the crash, Sgt. Arthur Horton of Maryland State Police told CNN. A tanker strike team responded, the fire department said.

    The crash on I-795 forced all ramps from inner and outer loops to close, Maryland’s State Highway Administration said.

    The fire was put out, the fire department said in a Twitter post shortly before 9 a.m., and crews were working with the Maryland Department of the Environment to contain diesel fuel. “Beltway will be shut down for an extended period. Avoid the area,” the fire department said.

    The tanker driver was taken to a local trauma center with non-life-threatening injuries, police said.

    The crash happened weeks after a deadly gas tanker explosion following a crash on a highway in nearby Frederick, Maryland. The March 4 explosion on US Route 15, about 50 miles west of Baltimore, damaged homes and vehicles and killed the tanker driver. Hazardous materials, including gasoline and diesel fuel, were contained within hours, Frederick County officials said.

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  • French airports, schools and oil refineries hit by national strike over pension age increase | CNN Business

    French airports, schools and oil refineries hit by national strike over pension age increase | CNN Business

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    Paris
    CNN
     — 

    French transport networks, oil refineries and schools were hit by widespread disruption Thursday as workers staged a national strike to protest an increase in the retirement age that was pushed through parliament without a vote.

    Though sporadic demonstrations had popped up in Paris and other cities after the French government forced the bill through last week, Thursday marked the first day of coordinated action since then. It is the ninth day of strikes since the bill was introduced in January.

    Only two out of 14 metro lines in Paris were operating a normal service. RER train services, which run in the city and its suburbs, were severely reduced and only half of high-speed TGV trains were working. The nationwide strike has also affected air traffic, with 30% of flights impacted at Paris Orly airport.

    Unionized workers blockaded a major oil refinery in Normandy and another one in Fos-sur-Mer in the south of France, according to a government spokesperson.

    “We are intervening in a targeted manner to unblock oil storage tanks that are blocked by demonstrators,” the minister of energy transition, Agnès Pannier-Runacherin, said in a statement.

    “If the strike is a fundamental constitutional right, blockading is not one… The police is mobilized in difficult conditions and has my full support.”

    The government renewed its requisition order requiring workers to go back to work at the two blockaded refineries, the government spokesperson said.

    The government’s plan to raise the retirement age for most workers by two years was opposed by huge numbers of people. But despite protests that drew more than a million people onto streets across the country, President Emmanuel Macron’s government did not back down. It rammed the legislation through the French National Assembly last week using a constitutional clause that allows the government to bypass a vote.

    The country’s generous pension system and early retirement have long been a point of pride since they were enacted after World War II. Under the new law, the retirement age for most workers will be 64, still one of the lowest in the industrialized world.

    As a result of the refinery strikes, kerosene stocks at Charles De Gaulle airport, which serves Paris, were “under pressure,” and those at Orly airport were being monitored, according to the civil aviation authority.

    Earlier in the day, around 70 protesters blocked terminal one at Charles de Gaulle airport, an airport spokesperson told CNN.

    About 20% of teachers in public education also took part in the strikes, according to France’s education ministry.

    A protester stands near burning garbage bins during a demonstration as part of protests against the pension reform, in Nantes, France, March 23, 2023.

    Macron and his government have defended the retirement reform as necessary to keep the pension system funded. Taxes on current workers pay for the benefits of retirees, and as people live longer — and more baby boomers retire — the system would otherwise eventually go bankrupt, though the threat is not immediate.

    When the proposal was unveiled in January, the government said the reforms were necessary to prevent a projected 13.5 billion ($14.7 billion) euro hole opening up in the pension system in 2030.

    During an interview with two of France’s main television networks Wednesday, Macron said the bill should be enacted by the end of this year. He also defended the decision to push through the reform as financially necessary, no matter how unpopular it was.

    “It’s in the greater interest of the country. Between opinion polls and the national interest, I chose the national interest,” Macron said.

    — CNN’s Joseph Ataman and Olesya Dmitracova contributed to this report.

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  • The Willow Project has been approved. Here’s what to know about the controversial oil-drilling venture | CNN Politics

    The Willow Project has been approved. Here’s what to know about the controversial oil-drilling venture | CNN Politics

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    CNN
     — 

    On March 13, the Biden administration approved the controversial Willow Project in Alaska.

    ConocoPhillips’ massive Willow oil drilling project on Alaska’s North Slope moved through the administration’s approval process for months, galvanizing a sudden uprising of online activism against it, including more than one million letters written to the White House in protest of the project and a Change.org petition more than 3 million signatures.

    Here’s what to know about the Willow Project.

    ConocoPhillips’ Willow Project is a massive and decadeslong oil drilling venture on Alaska’s North Slope in the National Petroleum Reserve, which is owned by the federal government.

    The area where the project is planned holds up to 600 million barrels of oil. That oil would take years to reach the market since the project has yet to be constructed.

    ConocoPhillips is a Houston-based energy company that has been exploring and drilling for oil in Alaska for years. The company is the only one that currently has oil drilling operations in Alaska’s National Petroleum Reserve, though its two operating projects are smaller than Willow would be.

    Willow was proposed by ConocoPhillips and originally approved by the Trump administration in 2020. ConocoPhillips was initially approved to construct five drill pads, which the Biden administration ultimately reduced to three. Three pads will allow the company to drill about 90% of the oil they are pursuing.

    The Biden administration felt its hands were tied with the project because Conoco has existing and valid leases in the area, two government sources told CNN. They determined that legally, courts wouldn’t have allowed them to fully reject or drastically reduce the project, the sources said. If they had pursued those options, they could have faced steep fines in addition to legal action from ConocoPhillips.

    Now that the Biden administration has given the Willow project the green light, construction can begin. However, it is unclear exactly when that will happen, in large part due to impending legal challenges.

    Earthjustice, an environmental law group, is expected to file a complaint against the project soon and will likely seek an injunction to try to block the project from going forward.

    Environmental groups and ConocoPhillips are each racing against the clock. Construction on Willow can only be done during the winter season because it needs ice roads to build the rest of the oil project’s infrastructure – including hundreds of miles of roads and pipelines and a processing facility. Depending on the weather, the Alaska’s winter season could end sometime in April.

    If environmental groups secure an injunction before then to stop or delay the project, it could delay construction for at least a year. And since the project needs to be fully constructed before the oil can be produced, it could take years for the oil pumped out of Willow to reach the market.

    The Willow Project will almost certainly face a legal challenge. Earthjustice has told CNN it is preparing a complaint, and it has already started laying out their legal rationale, saying the Biden administration’s authority to protect surface resources on Alaska’s public lands includes taking steps to reduce planet-warming carbon pollution – which Willow would ultimately add to.

    “We and our clients don’t see any acceptable version of this project, we think the [environmental impact] analysis is unlawful,” Jeremy Lieb, an Alaska-based senior attorney for Earthjustice, previously told CNN.

    The state’s lawmakers say the project will create jobs, boost domestic energy production and lessen the country’s reliance on foreign oil. All three lawmakers in Alaska’s bipartisan congressional delegation met with President Joe Biden and his senior advisers on March 3, urging the president and his administration to approve the project.

    A coalition of Alaska Native groups on the North Slope also supports the project, saying it could be a much-needed new source of revenue for the region and fund services including education and health care.

    “Willow presents an opportunity to continue that investment in the communities,” Nagruk Harcharek, president of the advocacy group Voice of the Arctic Iñupiat, told CNN. “Without that money and revenue stream, we’re reliant on the state and the feds.”

    Other Alaska Natives living closer to the planned project, including city officials and tribal members in the Native village of Nuiqsut, are deeply concerned about the health and environmental impacts of a major oil development.

    In a recent personal letter to Interior Secretary Deb Haaland, Nuiqsut Mayor Rosemary Ahtuangaruak and two other Nuiqsut city and tribal officials said that the village would bear the brunt of health and environmental impacts from Willow. Other “villages get some financial benefits from oil and gas activity but experience far fewer impacts that Nuiqsut,” the letter reads. “We are at ground zero for the industrialization of the Arctic.”

    In addition, a surge of online activism against Willow has emerged on TikTok in the last week – resulting in over one million letters being sent to the Biden administration against the project and over 2.8 million signatures on a Change.org petition to halt Willow.

    By the administration’s own estimates, the project would generate enough oil to release 9.2 million metric tons of planet-warming carbon pollution a year – equivalent to adding 2 million gas-powered cars to the roads.

    “This is a huge climate threat and inconsistent with this administration’s promises to take on the climate crisis,” Jeremy Lieb, an Alaska-based senior attorney at environmental law group Earthjustice, told CNN. In addition to concerns about a fast-warming Arctic, groups are also concerned the project could destroy habitat for native species and alter the migration patterns of animals including caribou.

    Willow advocates, including Alaska lawmakers, vow the project will produce fossil fuel in a cleaner way than getting it from other countries, including Saudi Arabia or Venezuela.

    “Why are we not accessing [oil] from a resource where we know our environmental track record is second-to-none?” Republican Sen. Lisa Murkowski of Alaska said during a recent press conference.

    Yes. During his 2020 presidential campaign, Biden vowed to end new oil and gas drilling on public lands and waters – which he initially carried out as part of an early executive order.

    However, the drilling pause was struck down by a federal judge in 2021, and since then the Biden administration has opened up several areas for new drilling. Several of these new oil and gas drilling areas have been challenged in court by environmental groups.

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  • Biden will announce sweeping protections preventing new Arctic drilling ahead of Willow decision | CNN Politics

    Biden will announce sweeping protections preventing new Arctic drilling ahead of Willow decision | CNN Politics

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    CNN
     — 

    President Joe Biden on Monday is expected to announce sweeping new protections for federal lands and waters in Alaska, according to an administration official, as the administration is poised to soon approve a major oil drilling project in the state.

    Biden will declare the entire US Arctic Ocean off limits to future oil and gas leasing and will announce new rules to protect over 13 million acres in the federal National Petroleum Reserve in Alaska from drilling. In all, the administration will move to protect up to 16 million acres from future fossil fuel leasing.

    The announcement comes as the administration is preparing to green-light the ConocoPhillips’ Willow project, a massive oil drilling venture in the National Petroleum Reserve. By the administration’s own estimates, Willow would generate enough oil to release 9.2 million metric tons (10 million US tons) of planet-warming carbon pollution a year – equivalent to adding 2 million gas-powered cars to the roads.

    The protections will extend to the Teshekpuk Lake, Utukok Uplands, Colville River, Kasegaluk Lagoon and Peard Bay special areas – places that are important habitat to grizzly bears, polar bears, caribou and migratory birds. The official said the administration views the new actions as a “firewall” against both future fossil fuel leasing and expansion of existing projects on the North Slope.

    CNN reported on Friday that the administration is soon set to approve Willow. The expected approval is a victory for Alaska’s bipartisan congressional delegation and a coalition of Alaska Native tribes and groups who hailed the drilling venture as a much-needed new source of revenue and jobs for the remote region. It is a major blow to climate groups and Alaska Natives who oppose Willow, arguing the project will hurt the president’s ambitious climate goals and pose health and environmental risks.

    White House press secretary Karine Jean-Pierre pushed back Friday, saying no final decision on the project had been made and that the US Department of the Interior would make an “independent decision on the Willow Project.”

    The administration official said deliberations on Willow are focused on the legal challenges the administration faces if it tries to stop or substantially limit the venture, given ConocoPhillips’ existing, decades-long leases. These existing leases are limiting the administration’s options with the project, the administration official said.

    The additional protection measures may not be enough to assuage the concerns of climate and environmental groups, who have been pushing hard against the project.

    “These conservation decisions by the Biden administration are positive steps, but not nearly sufficient to blunt the impact of any version of the Willow oil and gas project,” Karlin Itchoak, Alaska senior regional director for The Wilderness Society, said in a statement.

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  • Biden administration approves controversial Willow oil project in Alaska | CNN Politics

    Biden administration approves controversial Willow oil project in Alaska | CNN Politics

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    CNN
     — 

    The Biden administration has approved the massive Willow oil drilling project in Alaska, angering climate advocates and setting the stage for a court challenge.

    The Willow Project is a decadeslong oil drilling venture in the National Petroleum Reserve, which is owned by the federal government. The area where the project is planned holds up to 600 million barrels of oil, though that oil would take years to reach the market since the project has yet to be constructed.

    By the administration’s own estimates, the project would generate enough oil to release 9.2 million metric tons of planet-warming carbon pollution a year – equivalent to adding 2 million gas-powered cars to the roads.

    The approval is a victory for Alaska’s bipartisan congressional delegation and a coalition of Alaska Native tribes and groups who hailed the drilling venture as a much-needed new source of revenue and jobs for the remote region.

    But it is a major blow to climate groups and Alaska Natives who opposed Willow and argued the project will hurt the president’s ambitious climate goals and pose health and environmental risks.

    The project has galvanized an uprising of online activism against it, including more than one million letters written to the White House in protest of the project, and a Change.org petition with millions of signatures.

    Environmental advocates are expected to challenge the project in court. Earthjustice, an environmental law group, has been preparing a case against the project and intends to argue the Biden administration’s authority to protect resources on Alaska’s public lands includes taking steps to reduce planet-warming carbon pollution, which the Willow Project would ultimately add to.

    Earthjustice President Abigail Dillen blasted the administration’s decision on Monday.

    “We are too late in the climate crisis to approve massive oil and gas projects that directly undermine the new clean economy that the Biden Administration committed to advancing,” Dillen said. “We know President Biden understands the existential threat of climate, but he is approving a project that derails his own climate goals.”

    The venture was approved with three drilling pads instead of two. In recent weeks, the Biden administration had looked at reducing the number of approved drilling pads down to two and boosting nature conservation measures to try to assuage concerns climate and environmental groups had about the project.

    But ConocoPhillips and Alaska’s bipartisan congressional delegation aggressively lobbied the Biden White House and Interior Department for months to approve three drilling pads, saying the project would not be economically viable with two.

    Ultimately, the administration felt they were constrained legally and had few options to cancel or significantly curtail the project – which was initially approved by the Trump administration. The administration determined that legally, courts wouldn’t have allowed them to fully reject the project, two government sources familiar with the approval told CNN.

    Many oil drilling leases on the site were decades-oil, which the administration felt gave ConocoPhillips certain existing legal rights. Reducing the drill-pads to two would have allowed the company to drill about 70% of the oil they were initially seeking.

    Still, the final scope of the project will cover 68,000 fewer acres than what ConocoPhillips was initially seeking, the sources said.

    CNN has reached out to ConocoPhillips for comment.

    Biden on Monday is also expected to announce sweeping new protections for federal lands and waters in Alaska in tandem with Willow approval.

    Biden will declare the entire US Arctic Ocean off limits to future oil and gas leasing and will announce new rules to protect over 13 million acres in the federal National Petroleum Reserve in Alaska from drilling. In all, the administration will move to protect up to 16 million acres from future fossil fuel leasing.

    The protections will extend to the Teshekpuk Lake, Utukok Uplands, Colville River, Kasegaluk Lagoon and Peard Bay special areas – places that are important habitat to grizzly bears, polar bears, caribou and migratory birds. On Sunday, an administration official said the administration views the new actions as a “firewall” against both future fossil fuel leasing and expansion of existing projects on the North Slope.

    This story has been updated with more information.

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  • Saudi oil giant Aramco becomes latest energy firm to post record profits | CNN Business

    Saudi oil giant Aramco becomes latest energy firm to post record profits | CNN Business

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    Dubai
    CNN
     — 

    Saudi Arabian oil giant Aramco on Sunday reported a record annual net profit of $161.1 billion for 2022, up 46% from the year earlier, on higher energy prices, increased volumes sold and improved margins for refined products.

    The profits follow similar reports in February from international peers BP, Shell, Exxon Mobil and Chevron which have mostly posted record profits for last year.

    Oil prices swung wildly in 2022, climbing on geopolitical worries amid the war in Ukraine, then sliding on weaker demand from top importer China and worries of an economic contraction.

    “Given that we anticipate oil and gas will remain essential for the foreseeable future, the risks of underinvestment in our industry are real – including contributing to higher energy prices,” Aramco’s chief executive Amin Nasser said in the results statement.

    To address those challenges, the company is not only focused on expanding oil, gas and chemicals production, but also investing in new lower-carbon technologies with potential to achieve additional emission reductions, Nasser said.

    Aramco’s capital expenditure rose 18% to $37.6 billion in 2022 and the company said it expects this year’s spending to be around $45.0 billion to $55.0 billion including external investments.

    Aramco declared a dividend of $19.5 billion for the fourth quarter, an increase of 4% from the previous quarter.

    Its board also recommended to issue bonus shares, with eligible shareholders receiving one share for every 10 shares owned.

    Free cash flow reached a record of $148.5 billion in 2022, compared to $107.5 billion in 2021.

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  • Opinion: I was diagnosed with colon cancer at a young age. We’re seeing a lot more cases like mine | CNN

    Opinion: I was diagnosed with colon cancer at a young age. We’re seeing a lot more cases like mine | CNN

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    Editor’s Note: Sara Stewart is a film and culture writer who lives in western Pennsylvania. The views expressed here are solely the author’s own. View more opinion articles on CNN.



    CNN
     — 

    If I could pick one refrain I heard the most from doctors and nurses during my months of treatment for colon cancer in 2018, it’d be this: “You’re so young!” Often, they would follow this up by telling me they were seeing more and more people my age, and younger, being similarly diagnosed. Their distress has been confirmed in a new report released last week, at the start of Colorectal Cancer Awareness Month.

    “(T)he proportion of colorectal cancer cases among adults younger than 55 increased from 11% in 1995 to 20% in 2019. There also appears to be an overall shift to more diagnoses of advanced stages of cancer. In 2019, 60% of all new colorectal cases among all ages were advanced,” CNN noted from the report.

    I was 45 the year I received my shocking diagnosis: stage-3 colon cancer. It was just a few months after the American Cancer Society changed its recommendation for the age at which people should get routine colonoscopies, revising it downward from age 50 to, wouldn’t you know it, 45.

    Because I’m a relentlessly inquisitive patient — sometimes to the annoyance of my doctors — I would always ask their thoughts on the reason for this trend of younger colorectal cancer diagnoses. And always the answer would be the same: some variation of “well, it’s hard to say.”

    While I recognize medical professionals find it difficult to speculate, and might be in legal jeopardy if they do, I also find it infuriating that there isn’t more open discussion about the link between industrially-produced toxins and colorectal cancer. The National Cancer Institute reported in 2020 on scientists “examining factors in the environment as potential causes of early-onset colorectal cancer. Such factors include things like air and water pollution, chemicals in soil and food, and pesticide use.”

    A Spanish study concluded that same year that “residing in the proximity of industries may be a risk factor for colorectal cancer.” But there have been scant studies since then focusing on connecting colorectal cancer and environmental toxins. Considering it’s the fourth most commonly-diagnosed cancer in this country and the second leading cause of cancer deaths, it stands to reason there ought to be substantially more studies dedicated exclusively to it.

    There is a tendency, when one experiences the terror of a potentially fatal disease, to want to deal with it and then, if you’re very lucky, put it behind you. But as the years go on in the wake of my treatment — I’ll be at my five-year mark of no evidence of disease this summer — I find myself increasingly frustrated with a lack of systematic investigation of possible environmental causes.

    In the category of “risk factors” for younger colorectal cancer patients, there are a few regular culprits, grouped under “lifestyle”: certain diets, lack of exercise, excessive weight. For what it’s worth: I am a healthy eater, a thin person and a fitness fanatic with no genetic conditions that would favor colorectal cancer. I’m not arguing that these conditions aren’t contributors, but given the scope of the increase in diagnoses, it seems worth considering that something else could be at play.

    A couple of recently-interviewed experts seem to agree. Dr. Kimmie Ng, director of the Young-Onset Colorectal Cancer Center at the Dana Farber Cancer Institute, told NBC News that “it isn’t just diet and lifestyle, there is something else. We see so many young patients with colorectal cancer who follow very healthy lifestyles and diets.” And Dr. Folasade P. May, an associate professor of medicine in the University of California, Los Angeles Vatche and Tamar Manoukian Division of Digestive Diseases, says that “when something is affecting people who have their birth years in common, then we know it’s something in the environment that has led this whole group of people to have higher rates.”

    Yes! Finally!

    There are an alarming number of reports linking cases of cancer, including colon cancer, to environmental toxins. Industrial toxins and heightened colon cancer rates (often, among other cancers) have been linked in Pompton Lakes, New Jersey; Merrimack, New Hampshire; Satellite Beach, Florida; Akron, Ohio; a school near Ground Zero; Rikers Island, a jail in New York; Juliette, Georgia; and Peterborough, Ontario – the latter being the former site of a General Electric plant.

    Of course, as the Satellite Beach story acknowledges, “The complex interplay of genes and infectious and chemical agents obscure cancer’s many causes. Relatively small numbers of cases to work with, limited available data on occupational risks, lifestyle and demographic factors also complicate cluster investigations.” I’m aware that it’s rare for cancer cluster investigations to find an increase in cancer rates because cancer is so common, and it’s rarer still to find a clear cause for the cancer.

    But I don’t think anyone could reasonably argue there isn’t a large-scale problem with carcinogens in our environment. We are at a global tipping point where, as The Guardian reported last year, “the cocktail of chemical pollution that pervades the planet now threatens the stability of global ecosystems upon which humanity depends.” A study released just last month found that “at least 330 species are contaminated with cancer-causing ‘forever chemicals.’” Those chemicals, known as PFAS and present in widely-used items such as nonstick pans and firefighting foam, are only just now under consideration by the Environmental Protection Agency (EPA) to restrict their presence in drinking water in this country.

    The sheer scale of the problem seems completely overwhelming. So we need to do the things that are within our power, prevention-wise: making healthy choices and being more open in talking to doctors about worrying symptoms, even if it’s embarrassing (it is). Colonoscopies should be available, maybe even recommended, for people in their 30s and early 40s. Perhaps even in their 20s.

    For prevention on an environmental level, I’d like to suggest a model I found here in western Pennsylvania, when I wrote about a tiny town called Grant Township. The people here were fighting an oil and gas company’s attempt to install a fracking waste well that could potentially poison their groundwater with cancer-causing chemicals. As the residents in this coal-centric region know all too well, the only way to prevent toxic pollution is to stop it from happening in the first place. Once it’s in the ground, or air, or water, deep-pocketed companies can and will obfuscate and litigate for years while regular people get sick and die. (I’m still regularly freaked out by the sight of neon-orange streams and rivers in this part of the country, visible proof of the dangers of mine runoff.)

    Six years after my story ran, I’m thrilled Grant is still free from toxic dumping – and has garnered some major attention for its efforts. Jon Perry, a then-township supervisor in Grant, asks in a New Republic story: “Should a polluting corporation have the right to inject toxic waste, or should a community have the right to protect itself?” Their case is currently in front of the state supreme court, so we will soon know Pennsylvania’s stance. (The oil and gas company, for its part, has said in federal district court that Grant’s pushback “is deliberate, arbitrary, and irrational, exceeds the limits of governmental authority, amounts to an abuse of official power, and shocks the conscience.”)

    As we watch colorectal cancer numbers ticking disturbingly upward in the young, maybe it’s time to start asking that kind of question more often and more loudly. Is it easy? No. Is it worth it? Ask anyone who’s survived the hell of chemotherapy, and you’ll have your answer.

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  • CSX freight train derails after striking rockslide in West Virginia, injuring 3 and spilling diesel into river | CNN

    CSX freight train derails after striking rockslide in West Virginia, injuring 3 and spilling diesel into river | CNN

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    CNN
     — 

    A CSX freight train derailed Wednesday morning after striking a rockslide in a remote area of West Virginia, injuring three crew members and spilling diesel fuel into a nearby river, according to a company press release.

    The three crew members were in the locomotive, which caught fire after the derailment, and are being treated for non-life threatening injuries, CSX said. Two were airlifted and the third was taken to the hospital in an ambulance, a Summers County Office of Emergency Management dispatcher told CNN.

    Diesel fuel and oil spilled into the New River, and containment measures will be deployed, CSX said. The company also noted that the coal train was empty and was not transporting hazardous materials. CSX spokesperson Sheriee Bowman told CNN that 22 empty rail cars derailed.

    “The incident posed no danger to the public,” the CSX release said.

    The Federal Rail Administration says it’s actively monitoring the derailment and said that the fire has been extinguished. The administration said the derailment occurred on an Amtrak route, so residual delays may be expected.

    At least one locomotive and one fuel tank went into the New River, the West Virginia Emergency Management Division said. The division said the derailment occurred in a remote area south of Sandstone inside the New River Gorge National Park and Preserve, which in 2021 became America’s 63rd national park.

    The derailment comes about a month after a Norfolk Southern freight train carrying hazardous materials derailed and caught fire near East Palestine, Ohio, releasing potentially dangerous chemicals into the air and water. The incident has spurred bipartisan political efforts to prevent future incidents.

    CSX owns 12 feet from the middle of the train track to either side and is responsible for cleanup, the division said, adding praise for the early efforts of the company and first responders.

    “I’d like to commend the response agencies and CSX for their quick and efficient response,” said Summers County Emergency Manager Steve Lipscomb. “All the agencies worked as a team to provide prompt medical aid and transportation to the injured.”

    No roads are closed and there have been no evacuations of nearby homes, the division said.

    Chief Deputy Tim Adkins of the Summers County Sheriff’s Department said they received a call around 5 a.m. Wednesday about the derailment at a “pretty remote stretch of railway.” There was “extensive damage” to the train but no damage to outside property and no roads were blocked, he said.

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  • Fire at Indonesian fuel storage station kills at least 16 | CNN

    Fire at Indonesian fuel storage station kills at least 16 | CNN

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    CNN
     — 

    At least 16 people were killed in a fire at a fuel storage station in the Indonesian capital of Jakarta, CNN affiliate CNN Indonesia reported on Friday.

    The station is operated by Pertamina, Indonesia’s state-run energy company.

    Social media footage showed a huge flame billowing and people running for cover.

    Some nearby residents have been evacuated and Jakarta’s firefighting force has dispatched 52 units to respond to the blaze.

    Pertamina will investigate the cause of the fire and provide treatment for those affected, the company’s CEO Nicke Widyawati told CNN Indonesia.

    Fuel supplies for Jakarta will be provided from other terminals nearby, Widyawati said.

    Firefighters respond to the incident on March 3, 2023.

    In 2018, an oil spill cause by a leak of Pertamina’s undersea crude pipelines killed five fishermen.

    Indonesian authorities at the time declared a state of “emergency response” over the massive scale of the spill and environmental damage off the coast of the Southeast Asian country.

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  • High levels of chemicals could pose long-term risks at Ohio train derailment site, researchers say | CNN

    High levels of chemicals could pose long-term risks at Ohio train derailment site, researchers say | CNN

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    CNN
     — 

    An analysis of data from the US Environmental Protection Agency’s measurements of pollutants released from the Norfolk Southern train derailment in East Palestine, Ohio, suggests that nine of the dozens of chemicals that the EPA has been monitoring are higher than would normally be found in the area, according to a group of scientists from Texas A&M and Carnegie Mellon University.

    If the levels of some of these chemicals remain high, it could be a problem for residents’ health in the long term, the scientists say. Temperature changes or high winds might stir up the chemicals and release them into the atmosphere.

    The highest levels found in East Palestine were of a chemical called acrolein, the analysis says.

    Acrolein is used to control plants, algae, rodents and microorganisms. It is a clear liquid at room temperature, and it is toxic. It can cause inflammation and irritation of the skin, respiratory tract and mucous membranes, according to the US Centers for Disease Control and Prevention.

    “It’s not elevated to the point where it’s necessarily like an immediate ‘evacuate the building’ health concern,” said Dr. Albert Presto, an associate research professor of mechanical engineering at Carnegie Mellon’s Wilton E. Scott Institute for Energy Innovation, who is working on the university’s chemical monitoring effort in East Palestine. “But, you know, we don’t know necessarily what the long-term risk is or how long that concentration that causes that risk will persist.”

    Much of what scientists know about chemical exposure comes from people’s contact with chemicals at work, Preston said, which generally means exposure for about eight hours a day. People now living in East Palestine are in constant contact with the chemicals, he said, and the impact of that kind of exposure on the human body is not fully understood.

    The EPA and local government officials have repeatedly said that their tests show the air quality in the area is safe and that the chemicals should dissipate. As of Sunday, officials have tested air in 578 homes, and they say chemical pollution levels have not exceeded residential air quality standards.

    EPA’s air monitoring data shows that levels of monitored chemicals “are below levels of concern for adverse health impacts from short-term exposures,” an agency spokesperson told CNN on Monday. “The long-term risks referenced by this analysis assume a lifetime of exposure, which is constant exposure over approximately 70 years. EPA does not anticipate levels of these chemicals will stay high for anywhere near that. We are committed to staying in East Palestine and will continue to monitor the air inside and outside of homes to ensure that these levels remain safe over time.”

    However, residents have reported rashes and trouble breathing, sometimes even in their own homes, Presto said.

    “When someone says to them then, ‘everything is fine everywhere,’ if I were that person, I wouldn’t believe that statement,” he said.

    So who’s right? The scientists say it’s not a black-and-white issue.

    “I think it’s important for the public to understand that all sides are right. No one’s lying to them,” said Dr. Ivan Rusyn, director of the Texas A&M University Superfund Research Center and part of the team that did the analysis. “It’s just that every time you’re sharing information, whether it’s Administrator of EPA Michael Regan or Governor [Mike] DeWine or someone from Ohio EPA, when they say certain things are ‘safe,’ they really need to explain what they mean.”

    Rusyn says the EPA and local officials need to do a better job of communicating with the public about the risk to residents when they are exposed to chemicals released in the crash.

    Communication struggles have been a consistent pattern over the years and over numerous environmental disasters, he said. Officials will often do a good job of collecting and releasing data but then fail to give the proper context that the public will understand.

    “That’s what I would like to encourage all parties to do rather than to point fingers,” Rusyn said. “The general public has to trust authorities. Cleanup is continuing. They are doing monitoring. We just need to do a better job communicating the results.”

    Government communication about residents’ real level of risk has been a significant source of frustration in East Palestine, Presto said.

    “People are furious. They feel like they’re getting this black-and-white answer – things are safe or not safe – when it’s not a black-and-white sort of situation,” Presto said.

    The EPA says it will continue to monitor the air quality in the area and in residents’ homes. It is also setting up a community center so residents and business owners can ask questions about agency activity there.

    The agency said it is collecting outdoor air samples for contaminants of concern, including vinyl chloride, a hard plastic resin used to make plastic products like pipes or packaging material that can be a cancer concern; n-butyl acrylate a clear liquid used to make resins and paint products that can cause eye, throat, nose and lung irritation or damage as well as a skin allergy; and ethylhexyl acrylate, another colorless liquid used to make paints, plastics and adhesives that can cause skin and eye irritation.

    The EPA also collected field measurements for hydrogen sulfide, benzene, hydrogen cyanide, hydrogen chloride, phosgene and particulate matter.

    Scientists from Texas A&M and Carnegie Mellon are monitoring the chemicals in the area using a mobile lab that they’ve used for the past decade to measure air pollution in real time in cities across the country. They expect to release data from their own tests in East Palestine on Tuesday.

    The mobile lab has extremely sensitive equipment that can measure pollution in the parts per trillion. Scientists would then be able to plot them on a graph to show, in real time, where the concentrations of chemicals may be and at what level, Presto said.

    Mobile lab workers will try to determine whether there are chemicals in the air that the EPA isn’t monitoring. They are also looking at pollution levels in places where the agency did not set up monitoring stations.

    “The situation has to be monitored, and the EPA should continue measurements, and they should also communicate to the general public as to what they’re seeing and put this into context of risk, rather than use the numbers and expect people to figure it out for themselves,” Rusyn said.

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  • Biden nominates former MasterCard exec Ajay Banga to lead World Bank | CNN Business

    Biden nominates former MasterCard exec Ajay Banga to lead World Bank | CNN Business

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    New York
    CNN
     — 

    President Joe Biden has announced that he’s nominating Ajay Banga, a former MasterCard executive, to serve as president of the World Bank.

    In a statement, Biden said that Banga is “uniquely equipped to lead the World Bank at this critical moment in history” and that he has a “proven track record managing people and systems, and partnering with global leaders around the world to deliver results.”

    Banga has been the vice chairman at General Atlantic, a New York-based investment firm, since 2022. Prior to that, the 63-year-old was the CEO of MasterCard from 2010 to 2021.

    “Raised in India, Ajay has a unique perspective on the opportunities and challenges facing developing countries and how the World Bank can deliver on its ambitious agenda to reduce poverty and expand prosperity,’ Biden said in the statement. Notably, the White House highlighted Banga’s “extensive experience” in creating partnerships to address climate change and financial inclusion,” something Biden pledged would be an important qualification for the next World Bank President.

    Banga would replace previous president David Malpass, who announced last week that he’s stepping down a year early — serving four years of a five-year term.

    Although Malpass had been praised by the World Bank and administration officials for his handling of the global challenges posed by Russia’s invasion of Ukraine and the Covid-19 pandemic, his tenure faced controversy following comments he made last September about climate change. During a panel, herefused to confirm during a climate panel whether he accepted the scientific consensus that burning fossil fuels were dangerously warming the planet.

    After an outpouring of criticism, many opponents called for his resignation. However, he recently told CNN’s Julia Chatterley that he has “no regrets” over his four-year tenure.

    “We’ve achieved many of the things I wanted to…I think it’s really important that institutions have energy, new energy, and this is a good time for the World Bank to do that,” he said.

    US Treasury Secretary Janet Yellen praised the decision to name Banga in a statement.

    “He has the right leadership and management skills, experience living and working in emerging markets, and financial expertise to lead the World Bank at a critical moment in its history, deliver on its core development goals, and evolve the Bank to meet global challenges like climate change,” she said.

    US climate envoy John Kerry said Banga is the “right choice” because of his climate change credentials.

    Banga “has proven his ability as a manager of large institutions and understands investment and the mobilization of capital to power the green transition,” Kerry said in a statement.

    The World Bank, a group of 187 nations, lends money to developing countries to help reduce poverty. Former US President Donald Trump appointed Malpass as World Bank chief in 2019 for a five-year period. As the largest shareholder, the United States traditionally appoints its president.

    — CNN’s Sam Fossum contributed to this report.

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  • It’s never been this warm in February. Here’s why that’s not a good thing | CNN

    It’s never been this warm in February. Here’s why that’s not a good thing | CNN

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    CNN
     — 

    As parts of the West and Northern US face a winter storm with blizzard conditions and significant snowfall, much of the rest of the country is experiencing a summer-like heat that has never been felt before during the month of February.

    More than 130 cities from the Gulf of Mexico to the Great Lakes could set new records for daily and monthly high temperatures this week. Highs will climb up to 80 degrees as far north as Ohio and West Virginia — certainly unusual, but becoming less so in the warming climate.

    Here’s a stark example: Before this decade, Charleston, West Virginia, had only hit 80 degrees before March three times in more than 100 years of record-keeping. But this week’s incredible warmth will mean that four of the last six years will have logged temperatures of 80 degrees, which is its normal high on June 1, in February.

    Record warmth in February — a time that’s supposed to still feel like winter — might not sound like such a bad thing, but its negative consequences spread across the plant world, sports, tourism and agriculture. And it is another clear sign that our planet is warming rapidly, experts say.

    “Whenever we get these events, we should always be thinking there’s the possibility or likelihood that human-induced climate change is increasing the likelihood of strange weather,” Richard Seager, climate researcher at the Lamont-Doherty Earth Observatory of Columbia University, told CNN. “The more it goes on, the more they can bring such tremendous damage.”

    A satellite image taken on February 13 shows just around 7% of the Great Lakes are covered in ice -- significantly lower than average for this time of year.

    On the Great Lakes, ice coverage reached a record low for this time of the year — the same time that the annual maximum extent of ice usually occurs. As of last week, only 7% of the five freshwater lakes were covered in ice, a sharp difference from the 35 to 40% ice cover typically expected in mid-to-late February, according to the National Oceanic and Atmospheric Administration.

    Great Lakes ice is on a downward trend, NOAA scientists report. A recent study found a 70% decline in the lakes’ ice cover between 1973 and 2017.

    The decline in Great Lakes ice each winter may not seem like it has any harmful impact, but that ice acts as a buffer for large, wind-driven waves in the winter, scientists have reported. Without the ice, the coastlines are more susceptible to erosion and flooding.

    Ayumi Fujisaki-Manome, a research scientist at NOAA’s Cooperative Institute for Great Lakes Research at the University of Michigan, said low ice coverage could also set the stage for another severe lake-effect snow storm like the one Buffalo, New York, experienced in December.

    “The moisture and heat from the lake surface water are absorbed into the atmosphere by storm systems, and then fall back to the ground as snow in the winter,” Fujisaki-Manome said in a statement.

    The Lake Champlain shoreline on February 16. The lake near the access area is covered with ice, but officials are warning anglers to stay off the lake because unseasonably warm temperatures have made it unsafe.

    The thin ice has already had deadly consequences in New England.

    At Vermont’s Lake Champlain, the annual ice fishing tournament was cancelled last weekend when three fishermen died after falling through the ice. One man’s body was found hours after he was expected to return home from the lake, while the other two died after their utility vehicle broke through the ice.

    Montpelier, Vermont, had its warmest January on record this year since 1948, with Burlington recording its fifth warmest January since 1884, according to the Burlington National Weather Service.

    Robert Wilson, a professor of geography and environment at Syracuse University, said the Northeast as a whole is now a “fast-warming region,” with winter seasons warming faster than summers due to the climate crisis.

    And he underscored how this trend is threatening some of New England’s most cherished winter activities.

    “In coming decades, winter — as most people understand it — will get shorter and warmer, with less snow and more rain,” Wilson said. “This poses a serious threat to winter recreation: snowmobiling, cross-country skiing, and downhill skiing.”

    Daffodils bloom in Norfolk, Virginia, on Tuesday.

    Plants are blooming way earlier than usual across much of the country, a clear sign that spring is either right around the corner — or it has already arrived, in some places.

    “Spring is coming early in much of the Southern and Eastern US,” Brad Rippey, meteorologist with the US Department of Agriculture, told CNN. “Here in the mid-Atlantic, that means everything from budding trees to crocuses in bloom to spring peepers making lots of noise — and in February, no less.”

    Many plants species — including daffodils, witch-hazel, forsythia and even cherry blossoms — are beginning to leaf out in the East. Theresa Crimmins, director of the USA National Phenology Network, said it’s the plants responding to very early warm temperatures.

    “Plants, especially those of temperate systems, respond to a number of cues in order to wake up in the spring, including exposure to chill in the winter, exposure to warmth in the spring, and day length,” she told CNN.

    Dead or dying peach trees at Carlson Orchards in Massachusetts. Temperatures dropped below freezing in recent weeks, after abnormal warmth in January, threatening the crop.

    If another cold snap occurs after an early warm spell, Crimmins said it could be disruptive and damaging for the plants’ cycle. As flower buds develop, many species lose their ability to tolerate cold temperatures, which means a freeze could kill blooms and leave fruit crops and other commodities vulnerable to spring freezes.

    Rippey said warm winters followed by a spring freeze has become more common in recent years. In 2017, for instance, a severe spring freeze in March damaged several fruit crops — peaches, blueberries, apples and strawberries — in states including Georgia and South Carolina, which carried an economic toll of roughly $1.2 billion.

    “As nice as it feels to have temperatures in the 70s and 80s this time of year, the fact that it’s not ‘normal’ can have a profound impact on the ecosystem,” Rippey said. “Even a typical spring freeze can damage commercial and back-yard fruit crops that have been pushed into blooming by late-winter warmth.”

    India issued its first heatwave alert, with temperatures in some states reaching 39 degrees Celsius (102 Fahrenheit) – up to 9 degrees Celsius (16.2 Fahrenheit) above normal, according to data released by the India Meteorological Department on Monday.

    “The heatwave warnings as early as February is a scary situation,” Krishna AchutaRao, a professor at the Centre for Atmospheric Sciences at the Indian Institute of Technology Delhi, told CNN.

    It has raised fears of a repeat of last year’s deadly heatwave, which scorched swaths of India and Pakistan.

    Blistering heat has devastating consequences for people’s health, for water supplies and for crops; last year, crop yields were reduced by as much as a third in some parts of the country. As temperatures soared last spring, India banned exports of wheat, dashing hopes that the world’s second-largest wheat producer would fill the supply gap caused by the war in Ukraine.

    Commuters cover their faces with clothes to protect themselves from sun as temperatures soar in Hyderabad, India, on Wednesday.

    This February, with high temperatures hitting wheat-producing states, including Rajasthan and Gujarat, India has set up a committee to monitor the impact of rising temperatures on the crop, according to Reuters.

    Europe, too, has seen unusually high temperatures, kicking off 2023 with an extreme winter heatwave that broke January temperature records in several countries. Low levels of snow and rainfall have fueled concerns about the region’s rivers and lakes.

    The River Po, which winds through northern Italy’s agricultural heartland, fed by snow from the Alps and rainfall in the spring, is at very low levels, while water in Lake Garda in northern Italy has reached record lows. There are fears Italy, which declared a state of emergency last year after its worst drought in 70 years, may face another drought.

    The unusually warm weather has also left ski resorts across the Alps with little or no snow. In February, top skiers wrote an open letter to the International Ski and Snowboard Federation demanding action on the climate crisis.

    “The seasons have shifted,” they wrote. “Our sport is threatened existentially.”

    While ski resorts have adapted to warming by relying on artificial snow – a process that uses a lot of water and energy – Wilson noted that resorts would still need cold nighttime temperatures to make it.

    “The long-term survival of skiing and other winter recreation will depend on nations lowering their carbon emissions to avoid the more dire consequences and severe warming in the future,” he said.

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  • Russia’s economy is hurting despite Putin’s bluster | CNN Business

    Russia’s economy is hurting despite Putin’s bluster | CNN Business

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    London
    CNN
     — 

    When Russia launched its full-scale invasion of Ukraine one year ago, Western countries hit back with unprecedented sanctions to punish Moscow and pile pressure on President Vladimir Putin. The aim: to deal an economic blow so severe that Putin would reconsider his brutal war.

    Russia’s economy did weaken as a result. But it also showed surprising resilience. As demand for Russian oil fell in Europe, Moscow redirected its barrels to Asia. The country’s central bank staved off a currency crisis with aggressive capital controls and interest rate hikes. Military expenditure supported the industrial sector, while the scramble to replace Western equipment and technology lifted investment.

    “The Russian economy and system of government have turned out to be much stronger than the West believed,” Putin said in a speech to Russia’s parliament Tuesday.

    Yet cracks are starting to show and they will widen over the next 12 months. The European Union — which spent more than $100 billion on Russian fossil fuels in 2021 — has made huge strides in phasing out purchases. The bloc, which dramatically reduced its dependence on Russian natural gas last year, officially banned most imports of Russian crude oil by sea in December. It enacted a similar block on refined oil products this month.

    Those measures are already straining Russia’s finances as it struggles to find replacement customers. The government reported a budget deficit of about 1,761 billion rubles ($23.5 billion) for January. Expenditure jumped 59% year-over-year, while revenue plunged 35%. Deputy Prime Minister Alexander Novak announced that Russia would cut oil production by about 5% starting in March.

    “The era of windfall profits from the oil and gas market for Russia is over,” Janis Kluge, an expert on Russia’s economy at the German Institute for International and Security Affairs, told CNN.

    Meanwhile, the ruble has slumped to its weakest level against the US dollar since last April. The currency’s weakness has contributed to high inflation. And most businesses say they can’t conceive of growing right now given high levels of economic uncertainty, according to a recent survey by a Russian think tank.

    These dynamics place the country’s economy on a trajectory of decline. And they will force Putin to choose between ramping up military spending and investing in social goods like housing and education — a decision that could have consequences both for the war and the Russian public’s support of it.

    “This year could really be the key test,” said Timothy Ash, an associate fellow in the Russia and Eurasia program at Chatham House, a think tank.

    In a bid to bring Russia to heel for its aggression, Western countries have used their sway over the global financial system, unveiling more than 11,300 sanctions since the invasion and freezing some $300 billion of the country’s foreign reserves. At the same time, more than 1,000 companies, ranging from BP

    (BP)
    to McDonald’s

    (MCD)
    and Starbucks

    (SBUX)
    , have exited or curtailed operations in the country, citing opposition to the war and new logistical challenges.

    Russia’s economic output duly contracted by 2.1% last year, according to a preliminary estimate from the government. But the hit was more limited than forecasters initially expected. When sanctions were first imposed, some economists predicted a contraction of 10% or 15%.

    One reason for Russia’s unexpected pluck was its push toward self-sufficiency following Putin’s annexation of Crimea from Ukraine in 2014. Through a policy known as “Fortress Russia,” the government boosted domestic food production and policymakers forced banks to build up their reserves. That created a degree of “durability,” said Ash at Chatham House.

    The swift intervention of Russia’s central bank, which jacked up interest rates to 20% after the invasion and implemented currency controls to buttress the ruble, was also a stabilizing force. So was the need for factories to increase production of military goods and replace items that had been imported from the West.

    But the greatest support came from high energy prices and the world’s continued thirst for oil and other commodities.

    Russia, the world’s second-largest exporter of crude, was able to send barrels that would have gone to Europe to countries like China and India. The European Union, which imported an average of 3.3 million barrels of Russian crude and oil products per day in 2021, was also still buying 2.3 million barrels per day as of November, according to the International Energy Agency (IEA).

    “It’s a question of natural resources,” Sergey Aleksashenko, Russia’s former deputy minister of finance, said at an event last month hosted by the Center for Strategic and International Studies, a think tank. That meant the economy experienced a decline, but “not a collapse,” he added.

    In fact, Russia’s average monthly oil export revenues rose by 24% last year to $18.1 billion, according to the IEA. Yet a repeat performance is unlikely, presaging increasingly tough decisions for Putin.

    The price of a barrel of Urals crude, Russia’s main blend, fell to an average of $49.50 in January after Europe’s oil embargo — as well as a Group of Seven price cap — took effect. By comparison, the global benchmark stood around $82. That suggests that customers like India and China, seeing a smaller pool of interested buyers, are negotiating greater discounts. Russia’s 2023 budget is based on a Urals price of more than $70 per barrel.

    Finding new buyers for processed oil products, which are also subject to new embargoes and price caps, won’t be easy either. China and India have their own network of refineries and prefer to buy crude, noted Ben McWilliams, an energy consultant at Bruegel.

    Meanwhile, gas exports to Europe have plunged since Russia shut its Nord Stream 1 pipeline.

    A motorcyclist rides past an oil depot in New Delhi, India, on Sunday, June 12, 2022.

    Russia’s government relied on the oil and gas sector for 45% of its budget in 2021. As it plans to maximize defense spending, lower revenues inevitably mean trade-offs. Spending plans for 2023 finalized in December involved a decrease in expenditure on housing and health care, as well as a category that includes public infrastructure.

    “Whatever energy resources are obtained, they’ll be spent on military needs,” said Gulnaz Sharafutdinova, acting director of the Russia Institute at King’s College London.

    The International Monetary Fund still expects Russia’s economy to expand by 0.3% this year and 2.1% the next. Yet any outlook is contingent on what happens in Ukraine.

    “Whether the economy shrinks or expands in 2023 will be determined by developments in the war,” Tatiana Orlova, an economist at Oxford Economics, wrote in a note to clients on Tuesday. Shortages of workers tied to military conscription and emigration pose a key risk, she noted.

    The impact of Western sanctions is poised to develop into a crisis over time. Bloomberg Economics estimates that Putin’s war in Ukraine will slash $190 billion off Russia’s gross domestic product by 2026 compared with the country’s prewar path.

    Sectors that rely on imports have been particularly vulnerable. Domestic car makers such as Avtovaz, which manufactures the iconic Ladas, have struggled with shortages of key components and materials.

    A man talks on his phone near a closed H&M store on December 15, 2022 in Moscow, Russia.

    Russia’s auto industry was already weakened after companies such as Volkswagen

    (VLKAF)
    , Renault

    (RNLSY)
    , Ford

    (F)
    and Nissan

    (NSANF)
    halted production and began to sell their local assets last year. Chinese firms have stepped up their presence, part of a broader trend. Even so, sales of new cars dropped 63% year-over-year in January, according to the Association of European Businesses.

    Across sectors, firms are struggling to plan for the future. A survey of more than 1,000 Russian businesses by the Stolypin Institute of Economic Growth in November found that almost half plan to maintain production over the next one to two years and aren’t thinking about growth. The group said this contributed to a high risk of “long-term stagnation of the Russian economy.”

    Given Putin’s ideological commitment to subsuming Ukraine, he’s unlikely to back down, according to Sharafutdinova at King’s College London. But his war chest “is likely, inevitably, to diminish,” she added.

    Prioritizing military spending will also come at a social cost, with a “slow and creeping” erosion of living standards, she added.

    “In normal times, we might have said that the population would protest against that,” Sharafutdinova said. “But of course, these are not normal times.”

    — Clare Sebastian and Olesya Dmitracova contributed reporting.

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  • Biden administration restores Obama-era mercury rules for power plants, eyes more regulations in coming months | CNN Politics

    Biden administration restores Obama-era mercury rules for power plants, eyes more regulations in coming months | CNN Politics

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    CNN
     — 

    The Biden administration on Friday finalized a decision to reestablish Obama-era rules that require coal and oil-fired power plants to reduce toxic pollutants, including mercury and acid gas, that come out of their smokestacks.

    Mercury is a neurotoxin with several health impacts, including harmful effects on children’s brain development. And while the updated rule significantly benefits public health for communities around these kinds of power plants, it also has the effect of requiring plants to cut down on planet-warming pollution that comes from burning coal to generate electricity.

    President Joe Biden’s Environmental Protection Agency announced early last year that it intended to undo a Trump-era rollback of the 2012 mercury pollution rules, one of many Trump-era environmental decisions it has reversed.

    “This is a really good day for public health in this country,” EPA Deputy Administrator Janet McCabe told CNN. “We’re talking about mercury, arsenic, acid gases; these are dangerous pollutants that impact people’s health.”

    The EPA estimates the 2012 rule brought down mercury emissions from power plants by 86% by 2017, while acid gas emissions were reduced by 96%.

    McCabe said the EPA is currently working on its own, stronger mercury standard that it expects to propose “not too long from now” and finalize before the end of Biden’s first term.

    The Mercury and Air Toxics Standards rules are part of a larger tranche of regulations the agency is expected to roll out this spring that would cut down on coal-fired power plant pollution, including rules on proper disposal of coal ash.

    It also plans to release a much-anticipated rule that would regulate planet-warming pollution like carbon dioxide and methane. That rule is expected to be more limited than climate advocates desire, after the US Supreme Court limited the EPA’s ability to broadly regulate carbon pollution in a ruling last year.

    “We’re very mindful of the Supreme Court precedent,” McCabe told CNN. “We’ve been working very, very carefully to craft a rule that will be in the four corners of the direction that the Supreme Court has laid down.”

    McCabe said the agency will propose that rule “in the relatively near future,” but did not share specifics about what the rule would do to limit pollution.

    Many of the nation’s coal-fired power plants are aging and new ones are not being built – especially as it’s getting more expensive operate existing plans. If the EPA implements stronger federal regulations on mercury, coal ash and greenhouse gas emissions, it could have the impact of more utilities shuttering coal-fired plants, as many are already doing.

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  • Russia to cut oil output by 5% as sanctions bite | CNN Business

    Russia to cut oil output by 5% as sanctions bite | CNN Business

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    London
    CNN
     — 

    Russia will cut crude oil production by half a million barrels per day starting in March, a little over two months after the world’s major economies imposed a price cap on the country’s seaborne exports.

    “We will not sell oil to those who directly or indirectly adhere to the principles of the price ceiling,” Russian Deputy Prime Minister Alexander Novak said in a statement. “In relation to this, Russia will voluntarily reduce production by 500,000 barrels per day in March. This will contribute to the restoration of market relations.”

    The cut is equivalent to about 5% of Russian oil output.

    Futures prices for Brent crude, the global benchmark, jumped 2.7% Friday to $86 a barrel as traders anticipated a tightening in global supply. US oil gained 1% to trade at $79 a barrel.

    In June last year, the European Union agreed to phase out all seaborne imports of Russian crude oil within the following six months as part of unprecedented Western sanctions aimed at reducing Moscow’s ability to fund its war in Ukraine.

    In a move aimed at further tightening the screws, G7 countries and the European Union agreed in December to cap the price at which Western brokers, insurers and shippers can trade Russia’s seaborne oil for markets elsewhere at $60 a barrel. Earlier this month, EU countries also banned imports of Russia’s diesel and refined oil imports.

    Novak warned that the crude oil price cap could lead to “a decrease in investment in the oil sector and, accordingly, an oil shortage.”

    Neil Crosby, a senior analyst at oil data firm OilX, told CNN that a 500,000 barrel-a-day cut is not the “worst-case scenario” and is still a smaller hit to Russian production than most analysts were expecting last year.

    “But it sets a precedent for further cuts ahead if necessary or desired by Russian authorities,” Crosby said, adding that Moscow could be anticipating difficulty in finding enough demand for its crude.

    Russian Urals crude traded at a discount to Brent crude of $28 a barrel on Friday. Over the past few months, India and China have snapped up cheap oil from Moscow, just as the EU — once Russia’s biggest customer for crude — has ended all imports.

    “Russia currently has a limited pool of buyers for its crudes and has likely found a ceiling to its export sales in the near term, primarily to China and India,” said Alan Gelder, vice president of refining, chemicals and oil markets at Wood Mackenzie.

    According to Reuters, Russia took the decision to reduce its output without consulting the OPEC+ group of producers, which includes Saudi Arabia. OPEC+ decided in October to cut output by 2 million barrels per day and has not adjusted that stance since.

    A potential drop in global oil supply could come at a tricky time. China’s swift reopening of its economy in December after almost three years of strict coronavirus restrictions has pushed up estimates for global oil demand.

    Last month, the International Energy Agency said it expected global demand to surge by 1.9 million barrels per day to reach an all-time high of 101.7 million barrels per day, with China accounting for nearly half of the increase.

    Western sanctions — added to the grinding cost of war — are weighing on Russia’s economy. The country’s budget deficit ballooned to $45 billion last year, or 2.3% of its gross domestic product.

    But Russia’s central bank held its main interest rate at 7.5% Friday, saying that economic activity was better than expected and that inflation was likely to come down this year.

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  • Here’s what keeps Jerome Powell up at night and interest rates high | CNN Business

    Here’s what keeps Jerome Powell up at night and interest rates high | CNN Business

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    A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link.


    New York
    CNN
     — 

    Federal Reserve Chairman Jerome Powell threw markets into a tizzy on Tuesday as he spoke about the economy alongside his former boss, Carlyle Group co-founder David Rubenstein, at the Economic Club of Washington.

    Stocks struggled for direction as investors tried to get a read on Powell’s economic outlook, attitude towards inflation and on future interest rate hikes. Wall Street cheered as the Fed chair said the disinflationary process has begun, then soured when he said the road to reaching 2% inflation will be “bumpy” and “long” with more rate hikes ahead.

    Markets soared to new highs, before quickly falling to session lows and then recovering to close the day in the green.

    “Powell doesn’t want to play games with financial markets,” said EY Parthenon chief economist Gregory Daco after the conversation. But at the same time, he said Powell wanted to communicate that the Fed’s “base case was not for inflation to come down as quickly and painlessly as some market participants appear to expect.”

    Here’s why Powell thinks bringing down prices will be more difficult than investors anticipate.

    Structural changes in the labor market: The US economy added an astonishing 517,000 jobs in January, blowing economists’ expectations out of the water. The unemployment rate fell to 3.4% from 3.5%, hitting a level not seen since May 1969.

    The current labor market imbalance is a reflection of the pandemic’s lasting effect on the US economy and on labor supply, said Powell on Tuesday in answer to a question about the report. “The labor market is extraordinarily strong,” he said. Demand exceeds supply by 5 million people, and the labor force participation rate has declined. “It feels almost more structural than cyclical.”

    “If we continue to get, for example, strong labor market reports or higher inflation reports, it may well be the case that we have to do more and raise rates more,” he said.

    Core services inflation: Powell noted that he’s seeing disinflation in the goods sector and expects to soon see declining inflation in housing. But prices remain stubborn for services. Service-sector inflation, which is more sensitive to a strong labor market, is up 7.5% from the year prior through the end of 2022, and has not abated, he said.

    “That sector is not showing any disinflation yet,” Powell said. “There has been an expectation that [higher prices] will go away quickly and painlessly and I don’t think that’s at all guaranteed.”

    Geopolitical uncertainties: Powell also cited concerns that the reopening of China’s economy after the sudden end of Covid-Zero restrictions, plus uncertainty about Russia’s war on Ukraine could also affect the inflation path in ways that remain unclear.

    The labor market is strong, but tech layoffs keep coming. There were around  50,000 tech jobs cut in January, and the trend has continued into February.

    Video conferencing service Zoom is one of the latest to announce layoffs. The company said Tuesday that it’s cutting 1,300 jobs or 15% of its workforce. 

    Zoom CEO Eric Yuan said in a blog post on Tuesday that Zoom ramped up employment  quickly due to increased demand during the pandemic. The company grew three times in size within 24 months, he said and now it must  adapt to changing demand for its services.

    “The uncertainty of the global economy, and its effect on our customers, means we need to take a hard — yet important — look inward to reset ourselves so we can weather the economic environment, deliver for our customers and achieve Zoom’s long-term vision,” he wrote.

    Yuan added that he plans to lower his own salary by 98% and forgo his 2023 bonus. Shares of Zoom closed nearly 10% higher on Tuesday. 

    The announcement comes just one day after Dell said it would lay off more than 6,500 employees.

    Amazon

    (AMZN)
    , Microsoft

    (MSFT)
    , Google and other tech giants have also recently announced plans to cut thousands of workers as the companies adapt to shifting pandemic demand and fears of a looming recession.

    Neel Kashkari, president of the Federal Reserve Bank of Minneapolis told CNN that he is starting to think that the US economy could avoid a recession and achieve a so-called soft landing.

    It’s hard to have a recession when the job market is still so robust, he told CNN’s Poppy Harlow on Tuesday on CNN This Morning.

    Still, “we have more work to do,” Kashkari told Harlow, adding that the labor market is “too hot” and that is a key reason why it is “harder to bring inflation back down.”

    Although many investors are starting to think the Fed may pause after just two more similarly small hikes, to a level of around 5%, Kashkari said he believes the Fed may have to raise rates further. Kashkari has a vote this year on the Federal Open Market Committee, the Fed’s interest-rate setting group.

    It’s a good time to be in the oil business. BP’s annual profit more than doubled last year to an all-time high of nearly $28 billion.

    The British energy company said in a statement that underlying replacement cost profit rose to $27.7 billion in 2022 from $12.8 billion the previous year. The metric is a key indicator of oil companies’ profitability.

    BP

    (BP)
    also unveiled a further $2.75 billion in share buybacks and hiked its dividend for the fourth quarter by around 10% to 6.61 cents per share.

    BP’s shares rose 6% in Tuesday trading following the news. Over the past 12 months, its shares have soared 24%.

    The earnings are the latest in a string of record-setting results by the world’s biggest energy companies, which have enjoyed bumper profits off the back of skyrocketing oil and gas prices.

    Last week, another energy major Shell reported a record profit of almost $40 billion for 2022, more than double what it raked in the previous year after oil and gas prices jumped following Russia’s invasion of Ukraine.

    On Wednesday it was TotalEnergie

    (TTFNF)
    s turn. The French company posted annual profit of $36.2 billion for 2022, double the previous year’s earnings.

    Disney has found itself in the middle of a culture war battle that could end up transferring Disney World’s governance to a board appointed by Florida Gov. Ron DeSantis. And that may be the least of Disney’s problems, writes my colleague Chris Isidore.

    The company faces a media industry in turmoil, plunging cable subscriptions, a still-recovering box office, massive streaming losses, activist shareholders, possible reorganization and layoffs and growing labor disputes with employees. That’s a lot for CEO Bob Iger to handle.

    Iger, who retired as CEO in 2020 only to be brought back in November, has been mostly quiet about his plans for the company since his return. That ends at 4:30 p.m. ET Wednesday when he is set to begin an earnings call with Wall Street investors.

    Click here to read more about what to look for on what is certain to be a closely-followed call.

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  • BP’s annual profit more than doubles to $28 billion | CNN Business

    BP’s annual profit more than doubles to $28 billion | CNN Business

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    Hong Kong
    CNN
     — 

    BP’s annual profit more than doubled last year to nearly $28 billion, extending a record run of earnings for the world’s oil majors that is adding to calls for higher taxes on the windfall gains.

    The British energy giant said in a statement that underlying replacement cost profit rose to $27.7 billion for 2022, compared with $12.8 billion the previous year. The metric is a key indicator of oil companies’ profitability.

    BP

    (BP)
    also announced on Tuesday a further $2.75 billion in share buybacks and hiked its dividend for the fourth quarter by around 10% to 6.61 cents per share.

    The earnings are the latest in a series of record-setting results by the world’s biggest energy companies, which have enjoyed bumper profits off the back of soaring oil and gas prices.

    Last week, Shell

    (RDSA)
    reported a record profit of almost $40 billion for 2022, more than double what it raked in the previous year after oil and gas prices soared following Russia’s invasion of Ukraine.

    — This is a developing story and will be updated.

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  • A look at China’s history of spying in the US | CNN Politics

    A look at China’s history of spying in the US | CNN Politics

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    CNN
     — 

    The suspected Chinese surveillance balloon that violated American airspace this week has fueled a diplomatic crisis with the postponement of Secretary of State Antony Blinken’s planned trip to Beijing.

    But the two countries have a long history of spying on each other.

    The US has sought to collect its own intelligence about the Chinese government, using methods that include flying surveillance aircraft over disputed islands claimed by Beijing, human sources and signal intercepts.

    Still, American officials have sought to distinguish US actions from what they say is the more brazen espionage being carried out by the Chinese government.

    US officials say Beijing uses every tool at its disposal to gain a strategic advantage over the United States, its primary geopolitical rival. But Chinese officials say a similar thing – Beijing has in the past repeatedly accused the US of espionage.

    China denies that the balloon currently above the US is involved in any kind of espionage, claiming it is a “civilian airship used for research, mainly meteorological, purposes” that has been blown off course.

    Here’s what we know about how China spies on the US:

    While the suspected Chinese balloon spotted in the skies above multiple US states this week prompted an uproar from Republicans and Democrats alike, it is not the first time this kind of activity has been observed.

    A US official said Friday there had been similar incidents over Hawaii and Guam in recent years, while another official on Thursday said, “Instances of this activity have been observed over the past several years, including prior to this administration.”

    US officials have said the flight path of the latest balloon, first spotted over Montana on Thursday, could potentially take it over a “number of sensitive sites.” They say they are taking steps to “protect against foreign intelligence collection.”

    What’s less clear is why Chinese spies would want to use a balloon, rather than a satellite to gather information.

    Using balloons as spy platforms goes back to the early days of the Cold War. Since then, the US has used hundreds of them to monitor its adversaries, said Peter Layton, a fellow at the Griffith Asia Institute in Australia and former Royal Australian Air Force officer.

    But with the advent of modern satellite technology enabling the gathering of overflight intelligence data from space, the use of surveillance balloons had been going out of fashion.

    Or at least until now.

    Recent advances in the miniaturization of electronics mean the floating intelligence platforms may be making a comeback in the modern spying toolkit.

    “Balloon payloads can now weigh less, and so the balloons can be smaller, cheaper and easier to launch” than satellites, Layton said.

    Outside Malmstrom Air Force Base in central Montana, spread across 13,800 square miles of open plains, more than 100 intercontinental ballistic missiles stand at the ready, buried deep underground in missile silos. These Minuteman III rockets are capable of delivering nuclear warheads at least 6,000 miles away and are part of the US Strategic Command, which oversees the country’s nuclear and missile arsenal.

    Nestled among these silos are clusters of cell phone towers operated by a small rural wireless carrier. According to Federal Communications Commission filings, those cell towers use Chinese technology that security experts have warned in recent years could allow China to gather intelligence while also potentially mounting network attacks in the areas surrounding this and other sensitive military installations.

    Huawei, the Chinese company that makes the tower technology, is shunned by the major US wireless carriers and the federal government over national security concerns.

    Yet its technology is widely deployed by a number of small, federally subsidized wireless carriers that buy cheaper Chinese-made hardware to place atop their cell towers. In some cases, those cellular networks provide exclusive coverage to rural areas close to US military bases, CNN previously reported.

    In 2018, the heads of major US intelligence agencies – including the FBI and CIA – warned Americans against using Huawei devices and products. Security experts say that having its technology deployed so close to the nation’s arsenal of ICBMs could pose a far greater threat.

    In 2017, the Chinese government offered to spend $100 million to build an ornate Chinese garden at the National Arboretum in Washington, DC. Complete with temples, pavilions and a 70-foot white pagoda, the project thrilled local officials, who hoped it would attract thousands of tourists every year.      

    But when US counterintelligence officials began digging into the details, they found numerous red flags. The pagoda, they noted, would have been strategically placed on one of the highest points in Washington, just two miles from the US Capitol, a perfect spot for signals intelligence collection, multiple sources told CNN last year.  

    Chinese officials wanted to build the pagoda with materials shipped to the US in diplomatic pouches, which US Customs officials are barred from examining, the sources said.    

    Federal officials quietly killed the project before construction started.

    The canceled garden is just one of the projects that has caught the eye of the FBI and other federal agencies during what US security officials say has been a dramatic escalation of Chinese espionage on US soil over the past decade.        

    Since 2017, federal officials have investigated Chinese land purchases near critical infrastructure, shut down a regional consulate believed by the US government to be a hotbed of Chinese spies and stonewalled what they saw as efforts to plant listening devices near sensitive military and government facilities.    

    Some of the things the FBI uncovered pertained to Chinese-made Huawei equipment atop cell towers near US military bases in the rural Midwest.

    According to multiple sources, the FBI determined the equipment was capable of capturing and disrupting highly restricted Defense Department communications, including those used by US Strategic Command, which oversees the country’s nuclear weapons.

    CNN has also reported that Beijing has been leaning on expatriate Chinese scientists, businesspeople and even students in the US, according to current and former US intelligence officials, lawmakers and several experts.

    There have been a number of high-profile arrests. In January, a former graduate student in Chicago was sentenced to eight years in prison for spying for the Chinese government by gathering information on engineers and scientists in the United States.

    Ji Chaoqun, a Chinese national who came to the US to study electrical engineering at the Illinois Institute of Technology in 2013 and later enlisted in the US Army Reserves, was arrested in 2018.

    The 31-year-old was convicted last September of acting illegally as an agent of China’s Ministry of State Security (MSS) and of making a material false statement to the US Army.

    According to the Justice Department, Ji was tasked with providing an intelligence officer with biographical information on individuals for potential recruitment as Chinese spies. The individuals included Chinese nationals who were working as engineers and scientists in the US, some of whom worked for American defense contractors.

    Ji’s spying was part of an effort by Chinese intelligence to obtain access to advanced aerospace and satellite technologies being developed by US companies, the Justice Department said.

    Ji was working at the direction of Xu Yanjun, a deputy division director at the Jiangsu provincial branch of the MMS, the DOJ statement said.

    Xu, a career intelligence officer, was sentenced last year to 20 years in prison for plotting to steal trade secrets from several US aviation and aerospace companies. Xu was also the first Chinese spy extradited to the US for trial, after being detained in Belgium in 2018 following an FBI investigation.

    CORRECTION: This story has been updated to correct the spelling of Secretary of State Antony Blinken’s first name.

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  • US, EU, G7 and Australia announce new price cap on Russian petroleum products | CNN Politics

    US, EU, G7 and Australia announce new price cap on Russian petroleum products | CNN Politics

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    CNN
     — 

    The US and allies are trying to further limit Russia’s ability to make money and finance its war efforts with new price limits on products like gasoline and fuel oil, a senior Treasury official announced Friday – adding to sanctions on Russian energy sales in response to the country’s invasion of Ukraine.

    “Our intent is not to crash the Russian economy,” the official told reporters Friday. “Our intent is to make it impossible for the Kremlin to continue to make the choice of propping up the economy and also paying for their war.”

    The agreement between the US, the G7, the European Union and Australia places a price cap on “seaborne Russian-origin petroleum products,” the US Department of Treasury said. There are two price levels: one applies to “premium-to-crude” petroleum products like diesel, kerosene and gasoline, which will be capped at $100 USD per barrel, and “discount-to-crude” petroleum products like fuel oil, which will be capped at $45 USD per barrel.

    “The thing that we’re focused on is cutting off the revenue,” the official said. “We’re also going after their military industrialized complex and supply chain so they can’t use the money they have to buy the weapons they need. Our approach to this is really to go after the things that are crucial to the Kremlin’s war effort and their ability to prop up their economy.”

    In December, the same group implemented a price cap on crude oil – which the Treasury official said was already impeding Russia’s ability to finance the war. They added Russia had “openly acknowledged” the price cap was hurting the country’s economy. Data released by Russia showed that monthly tax revenues from energy sales declined 46% from the month prior.

    Officials shrugged off reports that, despite numerous sanctions, Russia’s economy is still expected to rebound and may even outpace Germany and Great Britain. The senior Treasury official said economically, the country “doesn’t function any longer like a normal economy.”

    “They’ve shut it down largely, meaning that if you have money of Russia, they’ll let you keep putting money in Russia, but you can’t take money out. They no longer allow foreign capital coming into Russia,” the official said. “They’re needing to spend more money to prop up their economy because they become a closed economy.”

    The reality, the official said, is that Russia’s budget deficit is growing “because the war is costing them more money” because the “bravery of the Ukrainian people” and the “weapons” were a surprise to them.

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  • Shell profits double to record $40 billion | CNN Business

    Shell profits double to record $40 billion | CNN Business

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    Hong Kong/London
    CNN
     — 

    Shell made a record profit of almost $40 billion in 2022, more than double what it raked in the previous year after oil and gas prices soared following Russia’s invasion of Ukraine.

    Europe’s largest oil company by revenue reported adjusted full-year earnings of $39.9 billion on Thursday — more than double the $19.3 billion it posted in 2021 — driven by a strong performance in its gas trading business. The company’s stock was up 1.7% in London.

    The company reported $9.8 billion in profit in the fourth quarter. Just over 40% of Shell’s full-year earnings came from its integrated gas business, which includes liquified natural gas trading operations.

    Shell CEO Wael Sawan said the results “demonstrate the strength of Shell’s differentiated portfolio, as well as our capacity to deliver vital energy to our customers in a volatile world.”

    The earnings are the latest in a series of record-setting results by the world’s biggest energy companies, which have enjoyed bumper profits off the back of soaring oil and gas prices.

    ExxonMobil this week posted record full-year earnings of $59.1 billion. Last month, Chevron

    (CVX)
    reported a record full-year profit of $36.5 billion.

    That has led to renewed calls for higher taxation. Governments in the European Union and the United Kingdom have already imposed windfall taxes on oil company profits, with the proceeds used to help households struggling with rising energy bills.

    Shell said it expected to pay an additional $2.3 billion in tax related to the EU windfall tax and the UK energy profits levy. The company paid $13 billion in tax globally in 2022.

    Shell

    (RDSA)
    also announced another $4 billion share buyback program and confirmed it would lift its dividend per share by 15% for the fourth quarter.

    This is a developing story and will be updated.

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