Business

While the market, and various pundits and economists have been mostly focused on the still to be disclosed details of Trump's infrastructure spending aspects of his fiscal plan, "one of the least talked about but possibly most important tax shifts in the history of the United States" is, according to DB, House Speaker Paul Ryan’s and President-elect Trump’s “border tax adjustment” proposal.

This is part of the “Better Way” reform package and also figures prominently in the writings of senior Trump administration officials.

What is it?

Submitted by Michael Snyder via The Economic Collapse blog,

The only time Jesus Christ showed anger in public was when he violently overturned tables belonging to moneylenders who had set up shop at a house of worship. The managing director of the IMF Christine Lagarde has been found guilty of criminal negligence by a Paris court, but the 60-year-old won’t be facing a fine or prison term. A Global Research report: IMF operations make loan-sharking look respectable by comparison, debt-entrapping nations, obligating them to take new loans to service old ones.

Expectations were for more inventory draws in total crude levels (and another build in Cushing), but API reported a considerably larger than expected 4.15mm draw in overall crude inventories. Both Gasoline and Distillates saw notable draws and Cushing built for the 4th week in a row (but less than expected). WTI crude kneejerked higher on the news...

API

In a move that will likely be overturned promptly by the administration of Donald Trump, president Obama on Tuesday formally blocked offshore oil and gas drilling in most of the Atlantic and Arctic Ocean, responding to a call from environmentalists who say the government needs to do more to prevent drilling in environmentally sensitive areas of U.S.-controlled oceans.