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    Daily Digest 2/2 – ExxonMobil Books First Annual Loss In Its Modern History, The Redditors Have Revealed A Myth About The Stock Market

    by Daily Digest

    Tuesday, February 2, 2021, 3:37 PM

Economy

ExxonMobil Books First Annual Loss In Its Modern History

ExxonMobil (NYSE: XOM) booked its first annual loss since the 1999 merger of Exxon and Mobil, and the first annual loss in at least 40 years after the pandemic crushed oil demand and prices and led to a huge domestic gas asset impairment.  ExxonMobil reported on Tuesday a loss of $22.44 billion for 2020, compared to earnings of $14.34 billion for 2019, due to the lower oil and gas prices and after-tax fourth-quarter impairment charges of $19.3 billion.

As new coronavirus strains raise questions about mask quality, the N95 market in the U.S. is still facing supply issues

Government officials in the U.S. and Europe have called for stricter mask protocols as more infectious strains of the coronavirus circulate, yet there is still concern that demand for respirator masks in the U.S. far outweighs supply.

N95s are unique in that they can filter out nearly all — 95% — of large and small particles in the air. This makes them more efficient blockers of the SARS-CoV-2 aerosols that can travel through the air.

Biden’s executive order on oil and gas drilling threatens ‘lifeblood’ of New Mexico economy

An oil and gas employee in New Mexico warned that President Biden’s order to halt new drilling on federal lands and a potential ban on all drilling on federal lands is “going to make oil and gas operators look at investing at other places.”

“What this does is it exports New Mexican jobs and it causes us to import foreign oil,” Lee Livingston with Mack Energy Corporation, told FOX Business’ Grady Trimble during an interview on “Varney & Co.” on Tuesday.

Can you still transmit Covid-19 after vaccination?

There’s no evidence that any of the current Covid-19 vaccines can completely stop people from being infected – and this has implications for our prospects of achieving herd immunity.

It was 17 June 2009. An 11-year-old boy returned to the US from the UK – and inadvertently brought something with him. Later that week, while attending a religious education programme in Sullivan County, New York, he developed a mysterious swelling of his salivary glands. He had mumps, a respiratory infection spread by contact with droplets in the air.

Biden wants a $15 minimum wage. Here’s what people say it would do to the economy

President Biden says his proposal to raise the federal minimum wage to $15 an hour will lift many low-wage workers out of poverty, but some businesses and economists warn it could cost jobs as the U.S. recovers from pandemic layoffs.

Mr. Biden endorses a plan to more than double the wage in steps over four years, noting that at $15 an hour, a job could support a family of four and it wouldn’t live in poverty. The president’s advisers also say raising the wage from $7.25 an hour, where it has stood since 2009, would show gratitude to essential workers at grocery stores and warehouses who stayed on the job during the coronavirus pandemic and would boost the economy by allowing low-wage workers to spend more.

BP Reports Massive Loss For 2020

The second supermajor to report full-year results, BP, said today it had lost $5.7 billion last year because of the oil price slump and demand destruction caused by the coronavirus pandemic.

Weaknesses in the gas market also contributed to the negative net result, BP noted in its filing, which compared with a profit of $10 billion for the previous year.

The Redditors Have Revealed A Myth About The Stock Market

After so many dark months, it is a peculiar relief for the biggest story of the week to be about a gang of online pranksters gaming the stock market.

Over the past several days, a handful of corporate stocks have surged to cartoon-hilarious price levels, as denizens of the website Reddit appear to be deliberately inflating them for fun. Nothing particularly special has happened to send these stocks, which include video game retailer GameStop and movie theater chain AMC, on their starward trajectory. It’s rather obviously a game, and the kids are having fun.

Gold & Silver

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14 Comments

  • Wed, Feb 03, 2021 - 10:48am

    #1

    thc0655

    Status: Platinum Member

    Joined: Apr 27 2010

    Posts: 2319

    6

    A battery fairy will be required to switch to an all electric vehicle fleet

    https://www.americanthinker.com/blog/2021/02/the_battery_fairy_and_other_delusions_in_the_demand_to_replace_gasoline_powered_vehicles_with_electric_cars_and_trucks.html

    I continue to be amazed that serious people think that gasoline powered vehicles can be completely replaced by electric vehicles in a decade-and-a-half, and that this would be a good thing, even if possible. Under threat of government action, however, the world’s major auto manufacturers are falling in line boosting production of plug-in models, and upstart Tesla Motors is now the world’s most valuable auto manufacture, based on the value of its capital stock issued and in the public’s hands. Mary T. Barra, CEO of General Motors, has pledged to sell only zero emission vehicles by 2035.  That would meet the deadline imposed by California Governor Gavin Newsom, who signed an executive order banning the sale of internal combustion vehicles in the nation’s largest car market by 2035....

    Then there is the small matter of batteries. The very large batteries needed for electric cars use lots of expensive lithium (and some other rare elements) whose supply is limited, and whose mining requires lots of scarce water. In fact, powering the world’s vehicles by battery is simply impossible, given the limited world supply of lithium, as this clever post by Powerline’s Steve Hayward makes clear. The title gives away the punchline:

    WHO WILL TELL THE GREENS THERE IS NO BATTERY FAIRY?

    For the longest while I have been asking, “Where do environmentalists and Democrats think all these batteries for our oil-free transportation fleet are going to come from?” It seems they think there is a Battery Fairy out there somewhere who will magically supply the ginormous battery capacity, and additional supply of electricity to charge them, in order to deliver us to our blessed fossil-fuel-free future.

    He cites an article in Wired, The Spiraling Environmental Cost of our Lithium Battery Addiction:

    But there’s a problem. As the world scrambles to replace fossil fuels with clean energy, the environmental impact of finding all the lithium required to enable that transformation could become a serious issue in its own right. “One of the biggest environmental problems caused by our endless hunger for the latest and smartest devices is a growing mineral crisis, particularly those needed to make our batteries,” says Christina Valimaki an analyst at Elsevier. . .

    It’s a relatively cheap and effective process, but it uses a lot of water – approximately 500,000 gallons per tonne of lithium. In Chile’s Salar de Atacama, mining activities consumed 65 per cent of the region’s water. That is having a big impact on local farmers – who grow quinoa and herd llamas – in an area where some communities already have to get water driven in from elsewhere. . .

    Two other key ingredients, cobalt and nickel, are more in danger of creating a bottleneck in the move towards electric vehicles, and at a potentially huge environmental cost. Cobalt is found in huge quantities right across the Democratic Republic of Congo and central Africa, and hardly anywhere else. The price has quadrupled in the last two years.

    I am glad that some grownups are pointing out that the electric vehicle conversion emperor has no clothes on. But that hasn’t stopped governments, manufacturers, and investors from pretending that electric vehicles are our only future.

    As Herbert Stein famously said, "If something cannot go on forever, it will stop." We’re only beginning to discover that about pipe dreams of an all-electric vehicle future.

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  • Wed, Feb 03, 2021 - 2:08pm

    TWalker5

    TWalker5

    Status: Bronze Member

    Joined: Mar 13 2020

    Posts: 82

    0

    Recycling Lithium Batteries

    Tom, et al., you might want to check out American Battery Technology Company (OTC: ABML.). They have a proprietary technology to recycle lithium batteries.  They’ve hired some impressive engineers from TSLA and are breaking ground on a factory here in my state of NV.  Could be a game-changer for the future of EV and render that author’s point moot

     

    Full disclosure: I own shares of ABML.

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  • Wed, Feb 03, 2021 - 2:38pm

    #3

    thc0655

    Status: Platinum Member

    Joined: Apr 27 2010

    Posts: 2319

    7

    John Kerry defiantly defends use of private jet to travel to Iceland to accept award

    “I will not be put on the defensive!”

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  • Wed, Feb 03, 2021 - 9:54pm

    #4
    nyhetersverige

    nyhetersverige

    Status: Gold Member

    Joined: Mar 21 2020

    Posts: 409

    0

    Stop buying Heinz Ketchup

    Stop buying Heinz ketchup.

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  • Thu, Feb 04, 2021 - 4:48am

    #5

    thc0655

    Status: Platinum Member

    Joined: Apr 27 2010

    Posts: 2319

    9

    Did you Nazi this coming? Implanted digital vaccine ID package.

    https://www.globalresearch.ca/implanted-vaccine-package-id-germanys-parliament-has-ratified-gavis-digital-agenda-id2020/5736277

    Alarming News. In Germany the Parliament (Bundestag) ratified on 29 January 2021, the implementation of Agenda ID2020.

    This is a centralized general electronic data collection of every citizen to which every government agency, police – and possibly also the private sector would have access.

    It covers all that is known about an individual citizen, now up to 200 points of in formation and possibly more as time goes on, from your bank account to your shopping habits, health records (vaccination records, of course), your political inclinations, and probably even your dating habits and other entries into your private sphere. 

    Agenda ID2020 was designed by Bill Gates as part of the “vaccination package”. It is backed by the Rockefeller Foundation, Accenture, the WEF and GAVI (Global Alliance for Vaccines and Immunization, now simply called the Vaccine Alliance), also a Gates creation (2001), with HQ in Geneva, Switzerland.

    GAVI is located next door to the WHO. GAVI is called a public private partnership,

    The public part being WHO, plus a number of developing countries;

    The private partners are, of course a series of pharmaceutical companies, i. e. Johnson & Johnson, GlaxoSmithKline, Merck & Co. … and the Bill and Melinda Gates Foundation.

    The German extra-governmental Corona Commission, consisting of hundreds of medical doctors, virologists, immunologists, university professors – and lawyers, including Dr. Reiner Füllmich, co-founder of the Commission, has special concerns that the current Corona-Vaccines (Pfizer, Moderna), may include nano-particles that could be accessible to electro-magnetic radiation, i. e. 5G and the subsequent 6G. 

    This is precisely what was foreseen in the design of Agenda ID2020, in which Bill Gates and GAVI had a major role, and in which case the ID2020 might be vaccine-implanted and be remote-accessible by EM-geared computers, robots or algorithms (see, in German “Wirkungsweise und Gefahren der aktuellen Corona-Impfungen in Deutschland mittels mit Nanopartikeln umhüllter mRNA-Impfstoffe – Corona Ausschuss Germany 37th Conference” (31 January 2021)

    The adoption of Agenda ID2020 still has to be approved by the German Federal Council, but there is little chance the Council will reject it....

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  • Thu, Feb 04, 2021 - 6:55am

    DennisC

    DennisC

    Status: Silver Member

    Joined: Mar 19 2011

    Posts: 238

    0

    Highway Below Sea Level

    Guess he wasn't able to ride his bike there since the transIcelandic highway is below sea level.

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  • Thu, Feb 04, 2021 - 7:48am

    #7
    DennisC

    DennisC

    Status: Silver Member

    Joined: Mar 19 2011

    Posts: 238

    2

    News Irony

    I just love the timing of some news stories:

    With the details of President Biden's 'stimmy' check plan being released, Senator Mitt Romney has gone to '11' on the Federal handouts amplifier as WaPo reports that the Utah Republican(ish) will propose providing at least $3,000 per child to millions of American families, lending bipartisan support to President Biden’s push to dramatically expand child benefits.

    Romney’s proposal would provide $4,200 per year for every child up to the age of 6, as well as $3,000 per year for every child age 6 to 17.

    source

    Just when you thought the future couldn’t get much more dystopian, scientists have issued more stark warnings that COVID-19 is reducing fertility in men, and could contribute to depopulation of the planet.

    Scientists say that there is increasing evidence in patients of testicular damage and lower sperm counts and mobility, with initial studies revealing the presence of the virus in semen samples.

    source

     

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  • Thu, Feb 04, 2021 - 7:52am

    #8

    000

    Status: Bronze Member

    Joined: Dec 10 2013

    Posts: 329

    0

    Carbon Capture of Soils--ahh not so fast

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  • Thu, Feb 04, 2021 - 10:44am

    Mohammed Mast

    Mohammed Mast

    Status: Platinum Member

    Joined: May 17 2017

    Posts: 1392

    3

    Kerry On Defensive???????

    Gee He sure sounds defensive for a guy not on the defensive.

    Hey John ever here of Zoom? It enables you to have meetings with anyone in the world w/o flying.

    I wonder what ol John is doing to sequester his carbon?

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  • Thu, Feb 04, 2021 - 1:41pm

    #10

    Boomer41

    Status: Bronze Member

    Joined: Nov 30 2008

    Posts: 165

    8

    Where will the electricity come from?

    If the manufacture and sale of internal combustion engine vehicles is prohibited and they are replaced by electric vehicles, where is all the electricity to run them going to come from?

    Electricity generating capacity in the US, and most other countries, is running flat out just to keep up with present demand. There is no spare capacity to recharge the batteries of millions of electric vehicles.

    According to the US Energy Information Administration “In 2016, about 143.37 billion gallons of finished motor gasoline were consumed in the United States, a daily average of about 391.73 million gallons per day”. The energy contained in a gallon of gas is 34 kW.hr so that works out to be 13.3 million mW.hr of energy per day. The present total capacity of the grid is 10 million mW.hr per day.

    So, in order for all gasoline powered vehicles to be replaced by electrics, the grid must increase its generating capacity by 130%.

    Even if that were physically possible within the next twenty years, what is going to power the generators? Nukes are verboten, coal is too dirty, there isn't going to be any more cheap oil. Maybe electric vehicles are not such a great solution after all.

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  • Thu, Feb 04, 2021 - 1:46pm

    #11

    thc0655

    Status: Platinum Member

    Joined: Apr 27 2010

    Posts: 2319

    2

    Inside socialist AOC is a capitalist screaming to get out.

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  • Thu, Feb 04, 2021 - 2:02pm

    thc0655

    Status: Platinum Member

    Joined: Apr 27 2010

    Posts: 2319

    1

    Senator Kennedy (on Hannity) rebukes Kerry

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  • Thu, Feb 04, 2021 - 3:27pm

    #13
    EddieLarry

    EddieLarry

    Status: Bronze Member

    Joined: Jul 04 2020

    Posts: 124

    0

    Energy companies on the move

    I am a long time energy investor.  Those bad XOM earnings marked the bottom IMO.  Trump was good for consumers but bad for the companies.  Not good for the long term.  Biden, in spite of himself, will be very good.  IMO, of course.

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  • Sun, Feb 07, 2021 - 2:47pm

    #14
    MonK

    MonK

    Status: Member

    Joined: Jan 13 2020

    Posts: 5

    0

    Increasing Minimum Wage is Good - Look at New Zealand

    People always seem to worry about putting minimum wage up. Look at New Zealand, our minimum wage is now $20 (about US$14). Our unemployment rate is very low and our economy is doing well (pre and post COVID). Increasing the MW is good for your economy. The only issue you have to worry about is landlords increasing their rent and sucking up that extra money into the wealthy classes. A healthy economy needs as many people as possible having at least some discretionary spending ability.

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