READING THE SIGNS ON THE OIL PRICE CAP: A few new signs suggest that the G7-led Russian oil price cap may not be delivering on its intended goals of cutting into Moscow’s war revenue while also keeping its barrels on the market.
Russia is the largest seaborne exporter of diesel, just ahead of the U.S., and the ban could force buyers to find alternative sellers for the foreseeable future. “We can’t see that it would be efficient in the 21st century,” Deripaska added, especially given Russia’s abundance of natural resources. Spain and Belgium were ranked as the second- and third-largest buyers of Russian LNG, behind only China, according to a report from the nonprofit group Global Witness. And as a whole, EU imports of the chilled Russian gas were up 40% in the first half of this year.
“Companies were in trouble, now they're doing incredibly well,” Biden told union workers during the strike, referencing the 2009 government bailout of U.S. automakers. “And guess what? You should be doing incredibly well, too,” he told them. “Stick with it." SENATE CR COULD SAVE FEMA … IF IT PASSES: Senate appropriators introduced last night legislative text of a continuing resolution to keep the government funded through Nov. 17, in hopes of staving off a government shutdown. And there’s money to keep the Federal Emergency Management Agency’s coffers from drying up – but not as much as the White House initially hoped for.
Reality check: Attached to the bill is about $6 billion in Ukraine aid. A number of conservatives in both chambers have signaled they would vote down any bill that would fund the Russia-Ukraine war. “We fully expect that Ford will continue to develop the BlueOval Battery Park Michigan site and we need to allow the Ford Motor Company and UAW to continue their negotiations,” Quentin Messier, president of Michigan Economic Development Corp., said during yesterday’s meeting.
“It would be absurd to classify Ford or its fully owned subsidiary as a foreign entity, much less one of concern,” Chris Smith, Ford’s chief government affairs officer, told the publication. Backed by the British-based Global Legal Action Network, the Portuguese applicants – aged between 11 and 24 – are seeking a legally-binding decision that would force governments to act. If the complaint is upheld, it could result in orders from national courts for states to cut carbon emissions blamed for climate change faster than currently planned.
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