четверг, 30 ноября 2017 г.

Australia fails to agree on reforms, FIFA takeover looms

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Australia fails to agree on reforms, FIFA takeover looms


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MELBOURNE, Nov 30 (Reuters) - Australia's football association failed to pass a vote to secure reforms demanded by FIFA on Thursday, paving the way for the... more on Geo altCom
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Forget OPEC — Putin is the one really controlling oil prices

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  • Russia seems to have replaced Saudi Arabia as the market swinger, along with U.S. shale.
  • An anonymous OPEC source told Bloomberg this week that it was Putin really calling the shots. 


Do you remember who first said anything about extending the oil production cut deal until the end of next year? It wasn’t Saudi Arabia or any other Gulf producer. It wasn’t even Venezuela. It was Russia, and more specifically President Putin, who suggested such an extension during Saudi King Salman’s visit to Russia in October.

At the time, most other participants in the deal were slapping each other on the backs for the high compliance rates and the increasingly evident results from the cuts, arguing that an extension may be unnecessary. No longer: now everyone seems to be convinced that an extension is in fact necessary, at least everyone in OPEC. But the country that will actually make or break the deal will be Russia.

One OPEC source that requested anonymity, told Bloomberg that Putin is “calling all the shots.” RBC Capital’s head of commodities Helima Croft called the Russian President “the world’s energy czar.” Indeed, Russia seems to have replaced Saudi Arabia as the market swinger, along with U.S. shale.

How did this happen and how did OPEC miss it? It happened gradually, just like the shale boom that OPEC also underestimated and ignored until it was too late. Russia has a lot of natural resources. It is trying to make the best possible use of these resources. It has been expanding its crude oil production for years, reaching a 30-year high last year, at over 11 million bpd, right before the original OPEC deal.

This is how Putin played Riyadh. It was clear that Russia’s participation in the cut deal would be crucial for prices to respond in the way OPEC wanted. To secure this response, OPEC’s leader cozied up to Moscow, with the first ever visit by a reigning Saudi monarch and a string of preliminary investment agreements, not to mention the purchase of the Russian S-400 missile system. All this despite the fact that Russia is a strong ally of Riyadh’s arch-enemy, Iran, and has shown no signs of willingness to reconsider its regional alliances.

So far, the interests of OPEC and Russia seemed to be aligned, but this is changing. It’s not so much about oil companies lacking the motivation to invest in new production, which, according to Russia’s Economy Minister Maxim Oreshkin, is hurting economic growth. It’s about Russia seeing more advantages in lower oil prices.

First, the lower the oil prices, the less motivated U.S. shale producers would be to expand their own production. Like OPEC, Russia sees U.S. shale boomers as the main threat to its reign in the global oil world. Second, the Russian economy benefits from a weaker ruble, and lower oil prices mean a weaker ruble. Third, the Russian economy has shown strong resilience to the oil price crash. This resilience has surprised those unfamiliar with recent history, but it is one more reason for the world’s current number-one oil producer to have second thoughts about a nine-month extension of the oil production cuts.

Russia is the producer everyone is watching ahead of the OPEC meeting. It may very well sign up for the nine-month extension but if it does, it will very likely do it on its own terms—and Saudi Arabia and the rest of OPEC might need to brace for these terms, whatever they may be, whether economic or geopolitical.

NOW WATCH: What happens to your brain and body if you use Adderall recreationally

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8 times Matt Lauer made headlines for his controversial on-air behavior

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matt lauerSlaven Vlasic / Getty Images

Following claims of "inappropriate sexual behavior," Wednesday morning’s news that "Today Show" host Matt Lauer had been terminated from his position shocked the internet.

But Lauer has been accused of making some feel uncomfortable during interviews quite a few times in the past. From film stars to political novas, a search into Lauer’s past shows that he has had his fair share of awkward and controversial remarks towards show guests and co-hosts.

He brought up Anne Hathaway's "up-skirt" paparazzi photos

NBC

While promoting the 2012 release of Tom Hooper’s film adaptation of the musical blockbuster "Les Misérables," Oscar winner Anne Hathaway stopped by "Today" to speak with Lauer. The conversation quickly changed from her star-turning role as Fantine to recent paparazzi "up-skirt" photos of Hathaway exiting a vehicle when not wearing underwear. 

"Let’s just get it out of the way. You had a little wardrobe malfunction the other night. What’s the lesson learned from something like that? Other than that you keep smiling, which you’ll always do," he asked at the start of the interview.

Hathaway responded by explaining how sad the situation made her, then returning the conversation back to "Les Misérables."

"I’m sorry that we live in a culture that commodifies sexuality of unwilling participants," she said, "which brings us back to 'Les Mis' because that’s what [my] character is. She is someone who is forced to sell sex to benefit her child because she has nothing and there’s no social safety net, so yeah—let’s get back to 'Les Mis.'"



Katie Couric claimed Lauer pinched her “on the ass”

Bravo

Also in 2012, news anchor Katie Couric stopped by Andy Cohen’s "Watch What Happens Live" on Bravo to play everyone’s favorite segment: "Plead the Fifth." Couric and Lauer worked together on "Today" for 15 years until she left the network in 2006. Among the questions, Cohen asked Couric what Lauer’s most annoying habit was. Seemed like an innocent question, right? Well, Couric did not hold back.

"He pinches me on the ass a lot," she said after hesitating for a second. She alleged it happened "a lot." Cohen laughed it off by saying "Wow, I wouldn’t have a problem with that!"



He took a controversial tone with Hillary Clinton

NBC

Presidential nominee Hillary Clinton had one awkward and often talked about 2016 interview with Lauer.

During the 30-minute town hall, Lauer interrupted Clinton while she attempted to answer his questions. Supporters took issue with Lauer's demeanor and attitude towards Clinton, especially given the fact that when interviewing fellow nominee, and now President, Donald Trump, Lauer appeared to let him talk more freely.

Supporters were outraged about the way they felt Clinton was treated during the interview. Clinton even discussed the matter in her recent book, "What Happened," dedicating a handful of pages to the situation. She wrote, "I watched Lauer soft-pedal Trump’s interview … Then he failed to call Trump out on his lies about Iraq. I was almost physically sick."
  



See the rest of the story at Business Insider
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