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3/8/22 – US onAir

3/8/2022 - US onAir

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OIL … U.S. oil industry prepares to boost production — but with a giant warning
Politico, Ben LefebvreMarch 7, 2022

Executives at some of the world’s biggest oil and gas producers said on Monday they are ramping up their crude production as U.S. gasoline prices surge to $4 a gallon amid expectations that President Joe Biden and Congress would ban imports of Russian petroleum — but the companies warned not to expect new supplies overnight.

Exxon Mobil and Chevron are both boosting oil production at the mammoth Permian Basin field in West Texas and New Mexico, strategies that both oil majors laid out last year but that have taken on new urgency because of the surge in oil prices to their highest level in 14 years.

U.S. crude oil prices jumped more than $10 overnight to $130 a barrel on news that the U.S. was considering prohibiting Russian oil imports, though prices backed off later during Monday trading. That rally has driven retail gasoline prices up more than 46 cents in the past week, reaching a national average of $4.06 a gallon, according to fuel price service GasBuddy.

JAN. 6 … Proud Boys leader indicted for conspiracy related to Jan. 6 attack
Politico, Kyle Cheney et al.March 8, 2022

Enrique Tarrio, the national leader of the Proud Boys, has been indicted on conspiracy charges related to the Jan. 6, 2021 attack on the Capitol.

A grand jury indictment, docketed Tuesday, charges Tarrio with conspiracy to obstruct Congress. Prosecutors have already leveled conspiracy charges against four Proud Boys leaders — Ethan Nordean, Joseph Biggs, Charles Donohoe and Zachary Rehl — who the Justice Department says played a central role in fomenting the breach of the Capitol. IN addition to Tarrio, prosecutors added another Proud Boy to the conspiracy indictment: Dominic Pezzola, who breached the Capitol when he shattered a Senate-wing window with a riot shield.

Tarrio was not present at the Capitol on Jan. 6. He was arrested days earlier for burning a stolen Black Lives Matter flag at a December 2020 rally in Washington, D.C., and was also hit with a pair of charges for possession of high-capacity ammunition magazines.

 

OIL DIPLOMACY … Biden turns to countries he once sought to avoid to find help shutting off Russia’s oil money
CNN, Kevin Liptak et al.March 8, 2022

President Joe Biden’s urgent global search for help shutting off Russia’s oil revenues is leading, in some instances, to regimes he once sought to isolate or avoid.

Biden administration officials traveled to Venezuela over the weekend for talks on potentially allowing the country to sell its oil on the international market, helping to replace Russian fuel. Biden may travel to Saudi Arabia as the US works to convince the kingdom to increase its production. And a looming nuclear deal could bring significant volumes of Iranian oil back to the market.

Caracas, Riyadh and Tehran would have been unlikely sources of relief for a Biden-led Western alliance before the start of the war in Ukraine. But Russia’s invasion has upended international relations, forcing the US and other nations to seek out solutions in places they’d previously shunned.

BIDEN … President Biden to announce an a ban on Russian oil for the country’s attack on Ukraine
March 8, 2022 – 12:20 pm to 12:40 pm (ET)
WOMEN’S RIGHTS … he state of gender inequality on International Women’s day
March 8, 2022 – 12:23 pm to 12:36 pm (ET)
INTELLIGENCE … CIA, NSA directors testify in House Intelligence hearing amid Russian attack on Ukraine
March 8, 2022 – 11:25 am to 1:59 pm (ET)

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