The Saudis have warned that they could push oil prices to $100 or $200 a barrel, an act that would probably plunge the U.S. and global economies into recession. They have suggested that American defense companies could forfeit tens of billions of dollars in deals that could instead go to Russia or China. These threats by Saudi Arabia’s monarchy in recent days were its answer to America’s own threats of punishment over the disappearance and reported killing and dismemberment of a dissident journalist that has shocked the world. Yet petroleum and defense experts have largely discounted such possibilities. While Saudi Arabia is still the leading producer in the Organization of the Petroleum Exporting Countries and can exert enormous influence over oil prices, it is no longer the energy superpower that American motorists feared during the Arab oil embargo era of the 1970s. And as long-standing clients of the U.S. arms industry, the Saudis cannot easily switch to other … [Read more...] about Saudis issued warnings against U.S. sanctions. But how much leverage do they have?
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A unique stamp on U.S. postal history
Anne Midgette, The Washington Post Published 11:47 am PDT, Tuesday, October 16, 2018 The National Postal Museum's atrium, which features three airmail planes, is one of five exhibit galleries that tell the postal history of America. The National Postal Museum's atrium, which features three airmail planes, is one of five exhibit galleries that tell the postal history of America. Photo: Smithsonian National Postal Museum Amelia Earhart wore this brown leather flight suit in the 1920s. Lined with plaid flannel, it provided insulation from the elements while flying in an open cockpit or at high altitudes. Earhart took along 50 pieces of mail on her first solo trans-Atlantic flight. less Amelia Earhart wore this brown leather flight suit in the 1920s. Lined with plaid flannel, it provided insulation from the elements while flying in an open cockpit or at high altitudes. Earhart took along 50 ... more … [Read more...] about A unique stamp on U.S. postal history
Commuter alert: Overturned semi in St. Paul is blocking entrance to U.S. 52 from I-94
A semi-truck overturned in St. Paul on Tuesday afternoon and the ramp to U.S. 52 south from Interstate 94 eastbound is closed. I-94 east is open. The semi, which was hauling 8,000 pounds of ice, overturned about 3 p.m. Removing the semi and cleaning up the road is estimated to take two hours, said Lt. Tiffani Nielson, State Patrol spokeswoman. Paramedics checked out the truck’s driver, who had minor injuries and didn’t need to go to the hospital, Nielson said. … [Read more...] about Commuter alert: Overturned semi in St. Paul is blocking entrance to U.S. 52 from I-94
U.S., South African farmers cry fowl over Trump metal tariffs
WASHINGTON (AP) — Which came first, the chicken or the trade war? Well before President Donald Trump began slapping tariffs on steel, aluminum and other imported goods, there was a deal with South Africa that gave U.S. chicken producers duty-free access to a market that had effectively been shut to them for years. But that trade deal, worth tens of millions of dollars to American businesses, now is being threatened by Trump's metal tariffs. A group of senators from chicken-producing states — Democrat Chris Coons of Delaware and Republicans Johnny Isakson of Georgia and Roger Wicker of Mississippi — have detailed their concerns in a recent letter to Commerce Secretary Wilbur Ross. They cite a lawsuit in South Africa that aims to end duty-free imports of American chicken unless South Africa is exempted from Trump's metal tariffs. The dispute illustrates the risk Trump runs by employing tariffs so aggressively. The president has wielded the import taxes — real and … [Read more...] about U.S., South African farmers cry fowl over Trump metal tariffs
U.S. stocks rally most since March as tech surges
NEW YORK – United States stocks gained the most in more than six months as corporate earnings provided a respite from tensions over trade and geopolitics. The dollar declined. The S&P 500 surged back above 2,800 as it continues a rebound from last week’s sell-off, while small caps in the Russell 2000 Index jumped the most in almost two years. The Nasdaq Composite saw its biggest gain since March as UnitedHealth Group’s earnings bolstered health care firms. Adobe Inc.’s forecast lifted software makers as technology stocks advanced before Netflix reports. The dollar held near a two-week low and the 10-year Treasury yield traded around 3.15 percent as data showed U.S. factory production expanded in September. Oil edged higher amid tensions between the Saudi Arabia and the U.S. over the disappearance of a prominent journalist. “The third quarter, which is now underway, would be the first sign if you’re looking for a smoking gun for either … [Read more...] about U.S. stocks rally most since March as tech surges