Authored by Nick Cunningham via OilPrice.com,
The U.S. shale industry might have just received a huge windfall with the nine-month extension of the OPEC cuts. Shale output was already expected to come roaring back this year, but the extension of the cuts provides even more room in the market for shale drillers to step into.
Update 2: Macron is now trolling Trump on twitter.
pic.twitter.com/3g5LYO9Osj
— Emmanuel Macron (@EmmanuelMacron) June 1, 2017
Update 1
In a response to President Donald Trump's decision to pull the US out of the Paris climate pact, French President Emmanuel Macron said Thursday night that the effects of climate change are already evident around the world.
Authored by Mike Shedlock via MishTalk.com,
A “sugar bomb” will detonate on June 5 unless the US and Mexico can reach an agreement on sugar imports within the next week.
If the US takes action, Mexico has threatened to retaliate. Corn and high fructose corn syrup are likely targets.
Mexico is the key buyer of US corn syrup.
Sweet Deals
Whenever manufacturers or growers cannot compete, they moan about “dumping”.
Canada's Natural Resources Minister Jim Carr just announced C$867 million (around $650 million) in financial supports for softwood lumber producers and the communities where they are based...“Canada is standing up to the U.S., Canada is standing up for Canadians.”
On Wednesday, the Conference Board of Canada released a report saying Canadian softwood producers would pay $1.7 billion in duties a year and cut 2,200 jobs and $700 million in U.S. exports over the next two years before the dispute is settled.
Every year, the world's richest and most powerful business executives, bankers, media heads and politicians sit down in some luxurious and heavily guarded venue, and discuss how to shape the world in a way that maximizes profits for all involved, while perpetuating a status quo that has been highly beneficial for a select few, even if it means the ongoing destruction of the middle class. We are talking, of course, about the annual, and always secretive, Bilderberg meeting.