Sunday, April 09, 2023

Ilhan Omar embarks on new path no longer defined by 'firsts'


FARNOUSH AMIRI
Sun, April 9, 2023

WASHINGTON (AP) — President Joe Biden was winding up for a speech at a Minnesota clean energy facility when he spotted a lawmaker in the crowd whom he wanted to recognize.

“I want to thank you for being here,” Biden said, gesturing toward Democratic Rep. Ilhan Omar during his recent visit. “You never stop working to level the playing field for everybody.”

For Omar, the quick flash of praise from Biden — who was neither her first nor second choice to be the party's 2020 White House nominee — was more than just a courtesy shout-out during a presidential visit to her suburban Minneapolis district. It was a recognition of how far Omar has come after a rocky start to her political career that at times made her standing with Democrats appear tenuous.

As she settles into her third term, Omar is no longer defined by the “firsts” that accompanied her arrival in Congress: one of the first Muslim women in the House, the first refugee from Africa elected to the House, the first lawmaker to wear a hijab while on the House floor.

In interviews with nearly a dozen Democrats in the House and Senate, lawmakers portray Omar as a serious legislator who in the past four years has earned admiration for giving voice to marginalized groups often forgotten on Capitol Hill.

The best example of this came in early February when every single House Democrat voted against a GOP resolution to remove her from the House Foreign Affairs Committee over her past comments critical of Israel.

“I think we’ve been successful in making the Democratic caucus, Democratic Party, Democratic establishment to get to a place where they are able to see me fully, for all of the multiple identities I am a first for and not just to see and celebrate it but to defend it,” Omar told The Associated Press.

In the debate over her committee seat, many of Omar’s fellow Democrats, including those of Jewish descent, spoke out in the chamber about what they said was hypocrisy from the new Republican majority.

“I don’t need any of you to defend me against antisemitism,” said Rep. Jan Shakowsky, D-Ill. “My friend Ilhan Omar and I have worked together toward the values that I treasure as an American Jew and that she treasures as an American Islamic woman, the only one on the Foreign Affairs Committee.”

Democrats called it payback because they had used their majority in the last Congress to oust far-right GOP lawmakers from committees for their incendiary, violent remark s. But the emotionally charged floor debate over Omar was a departure from the bipartisan outrage she faced in her first year in office. At that time, Democrats were confronted by the reality that comes with diverse viewpoints when Omar — showing less deference to the party line — dragged the divisions over Israel into the open.

It began with social media posts in which Omar criticized pro-Israel lobbyist groups and questioned the loyalty of Jewish lawmakers who pushed back against her criticisms of the Israeli government.

Omar apologized for her comments at the time, both privately to her Jewish colleagues and publicly. She said what she was questioning was the influence game in Washington and voicing her concern that anything she said about Israel and its treatment of Palestinians would be construed as antisemitic.

In response, top Democrats began to draft a resolution that would have condemned antisemitism, with an early version even mentioning Omar by name. At the time, only a handful of Democrats inside and outside of Congress came to her defense.

Vermont Sen. Bernie Sanders, the highest-ranking progressive in Congress, said in April 2019 that Omar may “need to do a better job speaking to the Jewish community,” but that “it is not antisemitic to be critical of a right-wing government in Israel.”

Ben Rhodes, who was President Barack Obama’s deputy national security adviser, said that after meeting Omar early in her career, it was clear that she wanted to use her background to push for structural change in foreign policy.

“There are plenty of people in Congress that can represent the kind of established view of American foreign policy whether it’s on the Middle East or whether it’s on military policy,” Rhodes said. “There’s a desperate need for unconventional thinking and different perspectives, and that’s what she brings.”

The resolution that Democrats ended up introducing and passing in the spring of 2019 included condemnation of anti-Muslim bias but did not mention of Omar’s name. For the next several years, the former state legislator focused on bringing attention to issues that affected immigrants and families both back in her district and across Minnesota. And she gained support from various factions of the party as a result.

“The more time I’ve spent with her the more I’ve come to appreciate her perspective, the more I’ve come to realize how important her voice is to represent not just our community in Minnesota, not just in our country but many around the world,” Rep. Dean Phillips, D-Minn., another Jewish member of Congress. “It’s not about agreeing. This building was not built for agreement. It was built to manage disagreement. And I’d like to think that she and I can be the perfect example of that.”

Omar began to move up the ranks in the Congressional Progressive Caucus — one of the largest ideological caucuses in the House. She become the vote counter for the caucus chair, Rep. Pramila Jayapal, D-Wash., in the last Congress as progressives helped pave the way for Biden's agenda to pass the House and Senate.

In January, Omar was chosen by more than 100 members to serve as deputy caucus chair.

“She’s not gonna stop using her voice,” Jayapal said. “She’ll continue to use her voice on foreign affairs issues. Just kicking her off a committee is not going to silence her. She’s way too strong for that.”

Omar, who was born in Somalia, is now embarking on a new chapter “as a minority, in the minority," helping Biden and the Democratic Party provide a split screen to Republican control by highlighting the implementation of several legislative achievements made in the past two years, including the infrastructure law.

“Being taken off the committee is not a pleasant experience. But I think she’s gonna turn it into a real blessing,” said Rep. Jim Clyburn, D-S.C., who was an early supporter of Omar and is a member of the House Democratic leadership team.

Omar is also chairing a newly formed Africa policy working group, where she and more than a dozen House Democrats will focus on issues concerning the continent.

“We don’t agree on everything,” said Rep. Sara Jacobs, one of the group's members. "But we share a similar worldview, especially when it comes to the African continent, where we’

While many voiced concerns that her removal from the House Foreign Affairs Committee would effectively silence her on foreign policy, Omar said Republicans badly miscalculated, given that she was assigned to the House Budget Committee as a replacement.

“This is why I joke about the fact that Republicans taking me off the Foreign Affairs Committee essentially meant that they were promoting me,” Omar said.

“Because we will have the opportunity not only to address investments in regards to our foreign policy with development, defense, and diplomacy, but we will also be able to have more of a say as part as the discussions move forward in regards to our own defense budget.











Rep. Ilhan Omar waves to passersby for support during a voter engagement event on the corner of Broadway and Central Avenues in Minneapolis, Aug. 9, 2022. (Elizabeth Flores/Star Tribune via AP, File)

#IMPEACHJUSTICETHOMAS
Democratic lawmaker Ocasio-Cortez wants US Supreme Court Justice Thomas impeached

House Oversight and Accountability Committee hearing about Twitter's handling of 2020 New York Post story about Hunter Biden and his laptop, in Washington

Sun, April 9, 2023
By Kanishka Singh

WASHINGTON (Reuters) - Democratic U.S. Representative Alexandria Ocasio-Cortez said on Sunday she wants Supreme Court Justice Clarence Thomas to be impeached and his advisers probed after a media report described luxury trips he has taken over decades, funded by a Republican donor.

"It is the House's responsibility to pursue that investigation in the form of impeachment," she told CNN in an interview. However, she acknowledged progress was unlikely since the House of Representatives has a Republican majority that would not want to take action against a conservative justice.

Ocasio-Cortez said the timeline of Thomas's relationship with Republican donor and real estate magnate Harlan Crow revealed a conflict of interest since it started after Thomas began serving on the Supreme Court in 1991.

ProPublica reported on Thursday that Thomas accepted expensive trips from Crow over decades despite federal law requiring the disclosure of most gifts.

Thomas defended the trips, saying in a statement on Friday that he had been advised he was not required to report that type of "personal hospitality," and has always sought to comply with disclosure guidelines.

He said he would now follow new rules brought in by the Judicial Conference responsible for financial disclosure requirements for the entire federal judiciary.

Crow told ProPublica he had "never sought to influence Justice Thomas on any legal or political issue."

(Reporting by Kanishka Singh in Washington; Editing by Daniel Wallis)

UN Tanker En Route To Prevent Catastrophic Oil Spill Off Yemen

A supertanker has departed from China en route to the Yemeni coast to prevent a catastrophic oil spill from a decaying tanker that has sat there for years.

The very large crude carrier (VLCC) set sail from Zhoushan, China, on Thursday as part of a United Nations coordinated operation to remove more than one million barrels of oil from the decaying FSO Safer supertanker off Yemen’s Red Sea coast that threatens a humanitarian, environmental, and economic catastrophe, the United Nations said in a statement.

The rescue tanker, the Nautica, was secured last month by the UN Development Programme (UNDP), and is expected to arrive at its final destination in early May.  

The dangerous tanker, the Safer, has been moored off Yemen’s Ras Isa peninsula since 1988 and could explode or break up at any time, the UN said.

“We are in a race against time and I urge leaders in government, CEOs of corporations and any individual in a position to contribute to step forward and support us in keeping this operation, that is fast reaching a critical stage, on track,” said Achim Steiner, UNDP Administrator.

Funding has yet to be secured, according to the UN.

“While the project has received significant international support, the spiraling cost for VLCCs, in a market affected by the war in Ukraine, and other factors, means more funding is needed to complete the emergency phase of the plan. As of 4 April, the UN had received firm commitments for $95 million. The total budget for this first phase is $129 million, leaving a gap of $34 million,” the UN said.

The UN has been warning for years that the tanker off the Yemeni coast could explode or sink, in warnings that an environmental disaster and potential disruption of oil shipping routes around the Red Sea is waiting to happen. 

Saudi Arabia To Provide $240 Million Loan For Pakistan Hydropower Project

Saudi Arabia announced on Friday that it would be providing a $240 million loan to co-finance the construction of Mohmand Dam in Pakistan. 

The hydropower complex, located in the northwest of the country, is seen as an essential project for Pakistan’s energy security as well as being critical for sustainable water supply for agriculture and human consumption, and flood resilience.

The Mohmand Dam is a multi-purpose project that will provide 800 megawatts of renewable electricity capacity, and enable the irrigation of 6,773 hectares of land. 

The project will increase the cropping area in the region from 1,517 hectares to 9,227 hectares, helping Pakistan's food security.

Pakistan is facing a crisis that has pressured its foreign exchange reserves. 

The loan, co-financed with the assistance of the Organization of the Petroleum Exporting Countries (OPEC), the Islamic Development Bank (IDB), and the Kuwait Fund for Arab Economic Development, will help the nation to address financial challenges by providing a much-needed injection of foreign currency into the country. 

The Saudi Fund for Development (SFD) has been a key partner for Pakistan and has financed 41 development projects and programs in the country, amounting to approximately $1.4 billion in total. 

Furthermore, the SFD has provided oil derivatives worth more than $5.4 billion between 2019 and 2023 to support Pakistan's economy.

Pakistan currently has a mix of mostly thermal and hydropower generation capacity. 

In theory, this is sufficient. However, a lack of funds has meant that the country has been unable to use the full capacity of its energy sources

Consequently, there have been prolonged blackouts, particularly during the summer when energy demand is high. 

The Mohmand Dam project will help Pakistan to alleviate this problem

The Mohmand Dam is an essential project for Pakistan. It will aid the country's energy security, provide sustainable water supplies for agriculture and human consumption, and improve resilience to floods. 

The loan from Saudi Arabia, together with the support of other international organizations, will help ensure that this critical infrastructure project succeeds.

By Michael Kern for Oilprice.com 

GOLDBUGS

Central Banks Double Down On Gold Buying

  • Central banks, led by China, continue to buy gold with 11 straight months of net purchases.

  • Emerging market banks are comparatively under-allocated to gold, and the trend of buying gold is expected to continue.

  • Turkey has been battling inflation, and its Central Bank has been the biggest gold buyer for 15 straight months.

There’s no sign of a slowdown in central bank gold buying.

In February, central bank gold reserves rose by another 52 tons, according to the latest data compiled by the World Gold Council.

It was the 11th straight month of central bank net gold purchases.

Through the first two months of 2023, net central bank gold purchases came in at 125 tons. This is the strongest start to a year since 2010.

China was the biggest buyer in February. The Peoples Bank of China increased gold holdings by a reported 24.9 tons. It was the fourth consecutive month of reported Chinese gold purchases. In that time, China’s official gold reserves have grown by 102 tons.

The Chinese central bank accumulated 1,448 tons of gold between 2002 and 2019, and then suddenly went silent until it resumed reporting in November 2022. Many speculate that the Chinese continued to add gold to its holdings off the books during those silent years.

There has always been speculation that China holds far more gold than it officially reveals. As Jim Rickards pointed out on Mises Daily back in 2015, many people speculate that China keeps several thousand tons of gold “off the books” in a separate entity called the State Administration for Foreign Exchange (SAFE).

Last year, there were large unreported increases in central bank gold holdings.  Central banks that often fail to report purchases include China and Russia. Many analysts believe China is the mystery buyer stockpiling gold to minimize exposure to the dollar.

Turkey continued to pile up gold, adding another 22.5 tons of gold to its hoard in February. The Central Bank of Türkiye was the biggest gold buyer in 2022 and has increased its gold holding for 15 straight months.

Turkey has been battling rampant inflation. Price inflation accelerated to as high as 85% last year and was at 64% in December. The Turkish lira depreciated by almost 30% last year.  Meanwhile, the price of gold in lira terms increased by 40% on an annual basis, according to Bloomberg.

After a pause in January, India went back to buying gold in February, adding 2.8 tons to its reserves. India ranks as the ninth largest gold-holding country in the world. Since resuming buying in late 2017, the Reserve Bank of India has purchased over 200 tons of gold. In August 2020, there were reports that the RBI was considering significantly raising its gold reserves. India now holds 790 tons of gold.

After a massive 44.6-ton increase in its gold reserves in January, Singapore continued its buying spree in February with another 6.8-ton purchase.

The Central Bank of Uzbekistan added 8 tons of gold to its reserves, following three consecutive months of sales.

Mexico bought 0.3 tons of gold in February.

The National Bank of Kazakhstan was the only notable seller in February, decreasing its reserves by 13.1 tons.

It is not uncommon for banks that buy from domestic production – such as Uzbekistan and Kazakhstan – to switch between buying and selling.

The Central Bank of Russia disclosed its gold reserves for the first time in over a year, reporting gold holdings of 2,330 tons at the end of February 2023. That was a 31-ton increase since its last report. The timing of the gold purchases remains unclear.

The World Gold Council said it expects net central bank gold buying to continue through 2023. According to the WGC, emerging market banks remain relatively under-allocated to gold.

Overall, we expect further buying, with EM banks at the forefront of this trend as they continue to redress the imbalance in gold allocations with their developed market peers.”

Total central bank gold buying in 2022 came in at 1,136 tons. It was the highest level of net purchases on record dating back to 1950, including since the suspension of dollar convertibility into gold in 1971. It was the 13th straight year of net central bank gold purchases.

According to the World Gold Council, there are two main drivers behind central bank gold buying — its performance during times of crisis and its role as a long-term store of value.

It’s hardly surprising then that in a year scarred by geopolitical uncertainty and rampant inflation, central banks opted to continue adding gold to their coffers and at an accelerated pace.”

World Gold Council global head of research Juan Carlos Artigas recently told Kitco News that the big purchases underscore the fact that gold remains an important asset in the global monetary system.

Even though gold is not backing currencies anymore, it is still being utilized. Why? Because it is a real asset.”

By Zerohedge.com

https://www.investopedia.com/terms/g/goldbug.asp

A gold bug is an investor who is particularly bullish on gold and is adamant and outspoken about the reasons why gold is a good investment. Most gold bugs ...

https://en.wikipedia.org/wiki/Gold_bug

"Gold bug" (sometimes spelled "goldbug") is a term frequently employed in the financial sector and among economists in reference to persons who are ...

https://www.merriam-webster.com/dictionary/goldbug

The meaning of GOLDBUG is a supporter of the gold standard.

Can Renewable Energy Save America’s Coal Communities?

  • The U.S. government plans to invest hundreds of millions of dollars to transform former coal mines into green energy hubs.

  • The move is designed to support communities reliant on fossil fuels and to achieve the U.S.'s goal of cutting greenhouse gas emissions in half by 2030 and achieving net zero by 2050.

  • The investments will include solar farms, metal and minerals mining, battery factories, green hydrogen projects, and carbon capture and storage operations.

As the global aim to move away from fossil fuels comes into full swing, communities that have long relied on coal, oil, and natural gas are becoming increasingly concerned about their job prospects and revenue in the coming years. Unless they can shift away from relying on fossil fuels and attract alternative investments to these regions, they could be left behind with few work opportunities and a poor economy. But in the U.S., President Biden is hopeful that this won’t happen if the right preparations for growth are made. Biden is now planning to bring wealth and green energy to coal communities to ensure they don’t get left in the dark. 

The federal government plans to pump hundreds of millions of dollars into coal-rich regions to turn them into green energy hubs thanks to recent legislation. The Department of Energy (DoE) will manage the allocation of $450 million in funds from the Bipartisan Infrastructure Law (BIL), designated for clean energy projects on former coal mine sites. Most of the funds will come from recent climate policies such as the BIL, Chips and Science Act, and the Inflation Reduction Act (IRA). 

The IRA introduced a 30 percent tax credit for wind, solar and other green energy projects, as well as an extra 10 percent to boost “energy communities”. The government is providing billions in bonuses to incentivise more clean energy investments in these communities. Much of the funding is expected to support populations, such as those in the coal-heavy Appalachian region, that have been devastated in recent decades due to coal mine closures. The U.S. Deputy Treasury Secretary, Wally Adeyemo, said “Communities like coal communities have the knowledge, infrastructure, resources and know-how to play a leading role in the move to a clean energy economy.”

The U.S. Energy Secretary, Jennifer Granholm, stated of the move, “These projects could focus on a range of technologies from microgrids to advanced nuclear to power plants with carbon capture.” Granholm added, “They’ll prove out the potential to reactivate or repurpose existing infrastructure like transmission lines and substations, and these projects could spur new economic development in these communities.”

Many of these investments will be allocated using results from a study on revitalising coal-power communities through federal investments from an interagency working group. The group identified 25 priority areas from West Virginia to Wyoming in 2021, with almost 18,000 mine sites identified across 1.5 million acres of land. To date, the working group has invested more than $14.1 billion in state funds for coal communities. This financing has also helped to attract $7.4 billion in private funding. 

The green energy development will include projects such as solar farms, metals and minerals mining, battery factories, green hydrogen projects and carbon capture and storage operations. The move is expected to support the U.S. goal of cutting greenhouse gas emissions in half by 2030 and achieving net zero by 2050, as well as supporting communities that could be left behind in the transition unless action is taken now. 

Some successes have already been seen in the shift from fossil fuels to green alternatives through the transformation of the Massachusetts Brayton Point coal power plant into an offshore wind manufacturing facility. Speaking about the conversion, Granholm explained “It’s very clear that ... the workers who powered the last century of industry and innovation can power the next one.” 

Companies investing in coal communities will be expected to hire locally and train workers in the skills needed to run green energy facilities. Energy firms will also be made to pay prevailing wages to ensure that workers are not losing out from the change. The White House emphasised the need to “ensure the creation of good-paying jobs that provide a choice to join a union, remediate mining and drilling lands and plant sites to address environmental degradation, and secure the benefits workers have earned.” 

One of the first projects to be launched is the study of ways to extract critical minerals such as lithium, copper, and nickel from coal mine waste streams. The DoE is providing $16 million in funding to West Virginia University and the University of North Dakota to conduct the research, which will support future developments at former coal sites. The U.S. is steadily building its domestic mineral industry, as well as looking regionally for the other high-demand resources needed to support the green transition. Metals and minerals such as copper and lithium are vital components in electric vehicles, as well as solar and wind farms. New climate policies and investments in the mining and manufacturing industries will help the U.S. to shift its reliance away from China for these resources and strengthen its energy security. 

As the U.S. undergoes a green transition, encouraging the acceleration of the rollout of renewable energy projects and the movement away from fossil fuels, there is a major concern amongst coal communities that they could be left behind. But recent climate policies and a move by President Biden to establish “energy communities” – prior mining regions that can be transformed into clean energy hubs, could be the answer. Developing green energy projects in these regions could provide vital work opportunities as fossil fuel operations close down, as well as bringing in revenue and maintaining the energy and economic security of the communities.