US Coal Companies Ask Trump to Stick With Paris Climate Deal

Some big American coal companies have advised President Donald Trump’s administration to break his promise to pull the United States out of the Paris Climate Agreement — arguing that the accord could provide their best forum for protecting their global interests.

Remaining in the global deal to combat climate change will give U.S. negotiators a chance to advocate for coal in the future of the global energy mix, coal companies like Cloud Peak Energy and Peabody Energy told White House officials over the past few weeks, according to executives and a U.S. official familiar with the discussions.

“The future is foreign markets, so the last thing you want to do if you are a coal company is to give up a U.S. seat in the international climate discussions and let the Europeans control the agenda,” said the official, who asked not to be named because he was not authorized to speak publicly on the issue.

“They can’t afford for the most powerful advocate for fossil fuels to be away from the table,” the official said.

Cloud Peak and Peabody officials confirmed the discussions.

‘Path forward’

In Cloud Peak’s view, staying in the agreement and trying to encourage “a more balanced, reasonable and appropriate path forward” on fossil fuel technologies among signatories to the accord seems like a reasonable stance, said Richard Reavey, Cloud Peak’s vice president of government affairs.

The coal industry was interested in ensuring that the Paris deal provides a role for low-emission coal-fired power plants and financial support for carbon capture and storage technology, the officials said. They also want the pact to protect multilateral funding for international coal projects through bodies like the World Bank.

The Paris accord, agreed by nearly 200 countries in 2015, would seek to limit global warming by slashing carbon dioxide and other emissions from burning fossil fuels. As part of the deal, the United States committed to reducing its emissions by between 26 percent and 28 percent below 2005 levels by 2025.

During his 2016 presidential campaign, Trump vowed to pull the United States out of the pact, tapping into a well of concern among his fellow Republicans that the United States’ energy habits would be policed by the United Nations.

Seeking companies’ advice

But since being elected, he has been mostly quiet on the issue, and administration officials have recently been asking energy companies for advice.

White House spokesman Sean Spicer said last week that the administration expected to make a decision on whether to remain a party to the deal by the time leaders of the Group of Seven wealthy nations meet in late May.

The prospect of the United States remaining in the Paris deal has irritated some smaller miners, including Murray Energy Corp, whose chief executive, Robert Murray helped fund Trump’s presidential bid.

Staying in the Paris accord could also face resistance from within Trump’s party. Republican Congressman Kevin Cramer of North Dakota has been circulating a letter among Republican lawmakers calling on the president to stay in the deal but has gathered only seven signatures so far.

From: MeNeedIt

New US Spelling Bee Rules Seek to Prevent Ties

Scripps National Spelling Bee winners aced “gesellschaft” and “feldenkrais” to be named co-champions of last year’s competition, but it was the word “tie” that gave organizers a headache.

On Tuesday, the contest revealed new rules aimed at preventing ties after the annual competition ended in a dead heat three years in a row, with joint winners both getting $40,000 cash prizes in 2016.

Organizers said they would prefer to see a clear-cut champion, rather than a shared title.

The 290 young spelling whizzes from across the United States and six foreign countries in this year’s bee will face a new written tiebreaker when they square off May 30-June 1 in a Washington suburb, organizers said.

The written test introduces a fresh hurdle for participants spelling ever-tougher words in the bee, a national institution since 1925.

“During our history, students have expanded their spelling abilities and increased their vocabulary to push our program to be even more challenging,” Paige Kimble, the bee’s executive director, said in a statement.

Tiebreaking test

Ahead of this year’s title round, the finalists will be tested on 12 words, which they will write, and 12 multiple-choice vocabulary questions.

If it is mathematically impossible for one champion to emerge through 25 rounds, bee officials will declare the speller with the highest tiebreaker score the winner. If there is a tie on the test, judges will declare co-champions.

This year’s bee will draw contestants ages 5 to 15 culled from more than 11 million in the spelling program. The winner or winners will receive the cash prize of $40,000.

Last year, Nihar Janga, a fifth-grader from Austin, Texas, and Jairam Hathwar, a seventh-grader from Painted Post, New York, were named co-champions after battling 25 rounds head to head.

To gain the title, Nihar spelled “gesellschaft,” a type of social relationship, and Jairam aced “feldenkrais,” a method of education.

From: MeNeedIt

Poll: Most Young People Say Government Should Pay for Health Care

Most young Americans want any health care overhaul under President Donald Trump to look a lot like the Affordable Care Act signed into law by his predecessor, President Barack Obama.

But there’s one big exception: A majority of young Americans dislike “Obamacare’s” requirement that all Americans buy insurance or pay a fine.

A GenForward poll says a majority of people ages 18 to 30 think the federal government should be responsible for making sure Americans have health insurance.

It suggests most young Americans won’t be content with a law offering “access”‘ to coverage, as Trump and Republicans in Congress proposed in doomed legislation they dropped March 24. The Trump administration is talking this week of somehow reviving the legislation.

Before Republican failure

Conducted Feb. 16 through March 6, before the collapse of the Republican bill, the poll shows that 63 percent of young Americans approve of the Obama-era health care law. It did not measure reactions to the Republican proposal.

The most popular element of the law is allowing young adults to stay on their parents’ insurance until age 26, which is favored by 75 percent of 18-30 year olds. It’s not just that they personally benefit — an Associated Press-NORC Center for Public Affairs Research poll conducted in January found that provision was equally popular among all adults. That proposal was included in the failed Republican overhaul.

But the Republican plan also contained provisions that most young Americans — the racially diverse electorate of the future — do not support, according to the poll.

Two-thirds of young people agree with a smaller majority of Americans overall that the government should make sure people have health care coverage. And they understand that will cost more: Sixty-three percent want the government to increase spending to help people afford insurance.

Those feelings cut across racial lines and include most whites, who formed the base of Trump’s political support in the presidential election.

“I do believe the government should offer it because we pay taxes,” said Rachel Haney, 27, of Tempe, Arizona. “I do feel like it’s a right.”

GenForward is a survey of adults age 18 to 30 by the Black Youth Project at the University of Chicago with the AP-NORC Center. The poll pays special attention to the voices of young adults of color, highlighting how race and ethnicity shape the opinions of a new generation.

Only about a quarter of young people want “Obamacare” repealed. That includes 16 percent of young adults who want it repealed and replaced as Trump has vowed and another 10 percent who want it repealed without a replacement.

Racial, ethnic divides

Just over a third of young whites want to see the law repealed, making them more likely than those of other racial and ethnic groups to say so.

“He just wants to protect us from al-Qaida, and terrorism,” said Kervin Dorsainvil, 18, a computer technician from Port Charlotte, Florida. “I feel like health care should be much higher on the list. I feel like we have the resources, the medical technology and everything in place to provide the health care to the people. So why wouldn’t we do that?”

Young people are more likely than Americans overall to say the government should make sure people have health care.

A recent AP-NORC poll of U.S. adults, conducted during and after the collapse of the Republican proposal, found just 52 percent called it a federal government responsibility to make sure all Americans have coverage.

Despite their overall approval of “Obamacare,” young Americans’ views on the law aren’t all rosy. Just a third say the law is working relatively well, while another third think the health care policy has serious problems. About 2 in 10 consider the law to be fatally flawed.

The law’s requirement that all Americans buy insurance or pay a fine is opposed by 54 percent of young people and favored by just 28 percent.

On the other hand, 71 percent favor the law’s Medicaid expansion, 66 percent of young adults favor the prohibition on denying people coverage because of a person’s medical history, 65 percent favor requiring insurance plans to cover the full cost of birth control, 63 percent favor requiring most employers to pay a fine if they don’t offer insurance and 53 percent favor paying for benefit increases with higher payroll taxes for higher earners.

About a quarter of young adults say they personally have insurance through their parents, while another 1 in 10 have purchased insurance through an exchange.

From: MeNeedIt

Trump Administration Cuts Off US Funds for UN Agency Over Abortion

The Trump administration said Monday it was cutting off U.S. funding to the United Nations agency for reproductive health, accusing the agency of supporting population control programs in China that include coercive abortion.

By halting assistance to the U.N. Population Fund, the Trump administration is following through on promises to let socially conservative policies that President Donald Trump embraced in his campaign determine the way the U.S. government operates and conducts itself in the world. Though focused on forced abortion — a concept opposed by liberals and conservatives alike — the move to invoke the “Kemp-Kasten amendment” was sure to be perceived as a gesture to anti-abortion advocates and other conservative interests.

The U.N. fund will lose $32.5 million in funding from the 2017 budget, the State Department said, with funds shifted to similar programs at the U.S. Agency for International Development. It wasn’t immediately clear whether the U.N. fund would also lose out on tens of millions of additional dollars it has typically received from the U.S. in “non-core” funds.

Under a three-decade-old law, the U.S. is barred from funding organizations that aid or participate in forced abortion of involuntary sterilization. It’s up to each administration to determine which organizations meet that condition. The U.N. Population Fund has typically been cut off during Republican administrations and had its funding resumed when Democrats control the White House.

The Senate Foreign Relations Committee was notified of the move by the State Department in a letter received Monday. The letter followed a formal designation by Tom Shannon, the State Department’s undersecretary of political affairs, that said the fund “supports, or participates in the management of, a program of coercive abortion or involuntary sterilization.”

In a lengthy memorandum obtained by The Associated Press, the State Department said the U.N. fund partners with China’s National Health and Family Planning Commission, responsible for overseeing China’s “two-child policy” — a loosened version of the notorious “one-child policy” in place from 1979 to 2015. It said the U.N. collaborates with the Chinese agency on family planning. Still, the memo acknowledged there was no evidence of U.N. support for forced abortions or sterilization in China.

The U.N. Population Fund, known as UNFPA, said it regretted the U.S. move and argued it was “erroneous” to suggest it was complicit in China’s policies.

“UNFPA refutes this claim, as all of its work promotes the human rights of individuals and couples to make their own decisions, free of coercion or discrimination,” the agency said in a statement.

The designation was the latest move by the Trump administration to prioritize traditionally conservative issues in the federal budget. The Trump administration has vowed to cut all dollars for climate change programming, and also restored the so-called global gag rule, which prohibits funding to non-governmental groups that support even voluntary abortions.

The Trump administration has also signaled that it no longer sees a need for the U.S. to so generously fund U.N. and other international organizations. The White House has proposed cutting roughly one-third from the State Department’s budget, with much of it expected to come from foreign aid and global organization dollars, although Congress is expected to restore at least some of that funding

The U.N. agency’s mission involves promoting universal access to family planning and reproductive health, with a goal of reducing maternal deaths and practices like female genital mutilation. The cut-off funds will be “reprogrammed” to USAID’s Global Health Programs account to focus on similar issues, said a State Department official, who wasn’t authorized to comment by name and requested anonymity.

The Kemp-Kasten amendment, enacted in 1985, led to some of the U.N. agency’s funding being initially cut off, then restored by Democratic President Bill Clinton in 1993, USAID said in a report. Republican George W. Bush’s administration reversed the decision in 2002, but President Barack Obama — a Democrat — gave the funding back after taking office.

From: MeNeedIt

Brady’s Jersey Stolen Again, This Time in Fun at Fenway Park

Tom Brady’s Super Bowl jersey was stolen again – this time by Rob Gronkowski in full view of 37,000 screaming Red Sox fans.

The New England Patriots quarterback was showing off the recently re-acquired uniform top during the pregame ceremony on opening day at Fenway Park on Monday when Gronkowski ripped it out of his hands. Brady chased him around the infield and playfully tackled him in right field.

The Patriots said it was the same jersey that had been stolen out of their locker room in Houston after the Super Bowl victory over the Atlanta Falcons in February.

“That was awesome seeing those guys out there,” said Boston outfielder Andrew Benintendi, whose three-run homer propelled the Red Sox to a 5-3 victory over the Pirates in a rematch of the first World Series, in 1903. “I grew up watching them and still do. It was cool to see them all out there.”

Brady got the jersey back at owner Robert Kraft’s home in suburban Brookline earlier Monday . “It took an international trip,” Kraft said in the video that was tweeted out on the team’s account.

The Patriots brought all five of their Vince Lombardi trophies out for the first pitch ceremony, coming out from behind a giant American flag draped over the Green Monster. Joining Brady, Gronk and Kraft were James White, who scored the winning touchdown in the Super Bowl in overtime, and fellow running back Dion Lewis.

The other players wore their blue uniform tops, but Brady walked out in the white one from the Super Bowl before he pulled it off and began waving it around.

Gronkowski jumped behind him and snatched it away.

“It was fun. They were kind of making fun of the whole jersey-taking thing,” said Red Sox outfielder Jackie Bradley Jr., who started the winning burst with a fifth-inning triple. “It was good seeing some champions out there. And they definitely know a lot about winning.”

Brady threw out the first pitch to Red Sox star Dustin Pedroia – like the Patriots quarterback, the longest tenured player on his team – before the two embraced. Even the Pirates enjoyed the pregame shenanigans.

“It was pretty hard not to,” said Pittsburgh starter Gerrit Cole. “Tom Brady is on the field, and he’s tackling Gronk. It’s a pretty special environment. I’ll probably forget everything after the fourth inning.”

The Patriots tweeted a video earlier on Monday showing Kraft presenting his star with two No. 12 Super Bowl jerseys that had been missing. (Another had disappeared after the 2015 Super Bowl.)

Kraft thanked the authorities who found the jerseys while searching the property of Mexican media executive Martin Mauricio Ortega. He has not been charged.

From: MeNeedIt

Redemption: Tar Heels Take Title over Gonzaga in Ugly Game

It’s OK, Carolina, you can open your eyes.

An unwatchable game turned into a beautiful night for the Tar Heels, who turned a free-throw contest into a championship they’ve been waiting an entire year to celebrate.   

 

Justin Jackson delivered the go-ahead 3-point play with 1:40 left Monday and North Carolina pulled away for a 71-65 win over Gonzaga that washed away a year’s worth of heartache.

 

It was, in North Carolina’s words, a redemption tour — filled with extra time on the practice court and the weight room, all fueled by a devastating loss in last year’s title game on Kris Jenkins’ 3-point dagger at the buzzer for Villanova.

Winners struggle from field

 

“I wanted to see this confetti fall on us and we’re the winners,” said Carolina’s Joel Berry II, who led the Heels with 22 points. “We came out here and we competed. It came down to the last second, but we’re national champs now.”

 

Berry, along with most of Roy Williams’ players, returned for another run. To say everything went right for them at this Final Four would not be the truth.

 

The Tar Heels (33-7) followed a terrible shooting night in the semifinal with an equally ice-cold performance in the final — going 4 for 27 from 3-point land and 26 for 73 overall.

 

Gonzaga, helped by 8 straight points from Nigel Williams-Goss, took a 2-point lead with 1:52 left, but the next possession was the game-changer.

 

Jackson took a zinger of a pass under the basket from Theo Pinson and converted the shot, then the ensuing free throw to take the lead for good. Moments later, Williams-Goss twisted his right ankle and could not elevate for a jumper that would’ve given the Bulldogs the lead.

Tar Heels finish strong

 

Isaiah Hicks made a basket to push the lead to 3, then Kennedy Meeks, in foul trouble all night, blocked Williams-Goss’ shot and Jackson got a slam on the other end to put some icing on title No. 6 for the Tar Heels. Williams got his third title, putting him one ahead of his mentor, Dean Smith, and now behind only John Wooden, Adolph Rupp and Mike Krzyzewski.

 

“I think of Coach Smith, there’s no question,” Williams said. “I don’t think I should be mentioned in the same sentence with him. But we got three because I’ve got these guys with me and that’s all I care about right now — my guys.”

Berry recovered from ankle injuries to lead the Tar Heels, but needed 19 shots for his 22 points. Jackson had 16 on a 6-for-19 night and, overall, the Tar Heels actually shot a percentage point worse than they did in Saturday night’s win over Oregon.

Referees are busy

Thank goodness for free throws. They went 15 for 26 from the line and, in many corners, this game will be remembered for these three men: Michael Stephens, Verne Harris and Mike Eades, the referees who called 27 fouls in the second half, completely busted up the flow of the game and sent Meeks, Gonzaga’s 7-footers Przemek Karnowski and Zach Collins and a host of others to the bench in foul trouble.

 

The most bizarre sequence: With 8:02 left, Berry got called for a foul for (maybe) making contact with Karnowski and stripping the ball from the big man’s hands. But as Karnowski was flailing after the ball, he grabbed Berry around the neck and, after a long delay, got called for a flagrant foul of his own.

 

That resulted in four straight free throws, a 52-all tie and booing from every corner of the massive Phoenix University Stadium.

 

 

From: MeNeedIt

Babies Cry More in UK, Canada and Italy, Less in Germany, Study Finds

Babies cry more in Britain, Canada, Italy and Netherlands than in other countries, while newborns in Denmark, Germany and Japan cry and fuss the least, researchers said on Monday.

In research looking at how much babies around the world cry in their first three months, psychologists from Britain have created the first universal charts for normal amounts of crying during that period.

“Babies are already very different in how much they cry in the first weeks of life,” said Dieter Wolker, who led the study at Warwick University.

“We may learn more from looking at cultures where there is less crying — [including] whether this may be due to parenting or other factors relating to pregnancy experiences or genetics.”

The highest levels of colic — defined as crying more than three hours a day for at least three days a week — were found in babies in Britain, Canada and Italy, while the lowest colic rates were found in Denmark and Germany.

On average, the study found, babies cry for around two hours a day in the first two weeks. They then cry a little more in the following few weeks until they peak at around two hours 15 minutes a day at six weeks. This then reduces to an average of one hour 10 minutes by the time they are 12 weeks old.

But there are wide variations, with some babies crying as little as 30 minutes a day, and others more than five hours.

The research, published in the Journal of Pediatrics, was a meta-analysis of studies covering some 8,700 babies in countries including Germany, Denmark, Japan, Canada, Italy, the Netherlands and Britain.

Wolker said the new crying chart would help health workers reassure parents whether their baby is crying within a normal range in the first three months, or may need extra support.

 

 

 

 

From: MeNeedIt

Gene Editing Creates Plants Resistant to Pathogens

Cereals such as wheat and barley are important food plants, grown almost everywhere in the world. But they are susceptible to diseases and one of the most damaging is a fungal pathogen that causes the dreaded “wheat head blight” or “wheat scab.” Using modern gene editing technique scientists have discovered a new and effective way to fight the disease.

From: MeNeedIt

Tech Leaders, Others Launch $14M ‘News Integrity’ Nonprofit

Facebook and Mozilla are among the companies and organizations launching a $14 million fund to promote news literacy and increase trust in journalism.

 

The nonprofit, called the News Integrity Initiative, will be based at the City University of New York. It will run as an independent project of the CUNY Graduate School of Journalism. 

 

Others contributing to the fund include Craigslist founder Craig Newmark and the Ford Foundation. 

 

Recent polls show the public’s trust in the news industry at a low. 

 

False news and misinformation, often masquerading as trustworthy news and spreading on social media, has gained a lot of attention since the 2016 U.S. presidential election. Companies like Facebook are trying to address the issue. 

From: MeNeedIt

Japan Business Mood Brightens as Recovery Broadens

Japanese big manufacturers’ business confidence improved for a second straight quarter to hit a one-and-a-half year high in March, a closely watched central bank survey showed, a sign the benefits of an export-driven economic recovery were broadening.

Service-sector sentiment improved for the first time in six quarters and companies remained upbeat on their capital expenditure plans, the Bank of Japan’s “tankan” survey showed, offering hope the economic recovery will gather momentum in coming months.

The data, which will be among factors the BOJ will scrutinize at its next rate review on April 26-27, reinforces a dominant market view the central bank’s next policy move would be to reduce rather than expand monetary stimulus.

“The tankan showed a balanced improvement in corporate sentiment at manufacturers and service-sector firms,” said Yuichiro Nagai, an economist at Barclays Securities. “Overall, the results support the BOJ’s rosy view on the economy.”

The headline index measuring big manufacturers’ business sentiment rose to plus 12 in March from plus 10 three months ago, the tankan showed on Monday, falling slightly short of market forecasts but marking the highest reading since December 2015.

The index gauging big non-manufacturers’ sentiment improved 2 points from plus 20, rising for the first time in six quarters and hitting the highest level since March 2016, the survey showed.

Brexit, Trump cloud outlook

Big manufacturers and non-manufacturers expect business conditions to deteriorate slightly in the coming three months, as risks to global trade such as Britain’s decision to leave the European Union and U.S. President Donald Trump’s protectionist statements cloud the outlook.

Still, the survey found big firms plan to increase capital spending by 0.6 percent in the fiscal year ending in March 2018, compared with a median market forecast for a 0.1 percent drop.

“There has been talk about the risks of protectionism, but so far Japanese companies are not taking any specific steps related to this,” said Norio Miyagawa, senior economist at Mizuho Securities.

“This tankan will reinforce expectations that the BOJ is on hold for the time being. We certainly don’t see the need to ease or tighten policy,” he said.

Signs of life

Japan’s economy has shown signs of life in recent months, with exports and factory output benefiting from a recovery in global demand.

With inflation expected to accelerate later this year, a growing number of analysts now predict the BOJ’s next move would be to start scaling back its massive monetary stimulus.

The tankan’s sentiment indexes are derived by subtracting the number of respondents who say conditions are poor from those who say they are good. A positive reading means optimists outnumber pessimists.

 

From: MeNeedIt

Using Technology, China Continues Its ‘Toilet Revolution’

Fed up with the theft of toilet paper from public bathrooms, tourist authorities in China’s capital have begun using facial recognition technology to limit how much paper a person can take.

 

The unusual move – part of a “toilet revolution” – is another step in China’s vast upgrading of public facilities.

 

Bathrooms at tourist sites, notorious for their primitive conditions and nasty odors, are a special focus of the campaign, a response to a vast expansion in domestic travel and demands for better-quality facilities from a more affluent public.

 

“Today in China, people are highly enthusiastic about tourism, and we have entered a new era of public tourism,” said Zhan Dongmei, a researcher with the China Tourism Academy. “The expectation of the public for the toilet is becoming higher.”

 

At Beijing’s 600-year-old Temple of Heaven, administrators recognized the need to stock the public bathrooms with toilet paper, a requirement for obtaining a top rating from the National Tourism Authority. But they needed a means of preventing patrons from stripping them bare for personal use – hence the introduction of new technology that dispenses just one 60-centimeter (2-foot) section of paper every nine minutes following a face scan.

 

“People take away the paper mostly because they are worried they can’t find any when they want to use it the next time. But if we can provide it in every toilet, most people will not do it anymore,” Zhan said.

 

Launched two years ago, the revolution calls for at least 34,000 new public bathrooms to be constructed in Beijing and 23,000 renovated by the end of this year. Authorities are also encouraging the installation of Western-style sit-down commodes rather than the more common squat toilets. Around 25 billion yuan ($3.6 billion) has already been spent on the program, according to the National Tourism Administration.

The ultimate target, Zhan said, “is to have a sufficient amount of toilets which are clean and odorless and free to use.”

 

At Happy Valley, the largest amusement park in Beijing, around 4 million annual visitors rely on 18 bathrooms, each of which is assigned one or two cleaners who must make their rounds every 10 minutes on busy days.

 

“People come here to have fun, but if the toilets are disgusting, how can they have a good time here?” said Vice General Manager Li Xiangyang. “It is the least we should do to offer a clean and tidy environment for tourists to enjoy both the tour of the park and the experience of using our toilets.”

 

Going a step further, the financial hub of Shanghai even opened its first gender-neutral public toilet in November in order to boost convenience and efficiency.

 

“Women are stuck waiting in longer lines for stalls than men, and it is fair for men and women to wait in line together,” Shanghai resident Zhu Jingyi said after using the facility.

 

Zhan said the toilet revolution is about 90 percent complete, but warned that it has yet to be won.

 

“We can’t accept the situation that a lot of investments have been made to build toilets and they turn out to be unsanitary and poorly managed,” he said.

From: MeNeedIt

Minister: Iraq to Boost Crude Oil Production by Year’s End

 Iraq’s oil minister said on Sunday that his country plans to increase daily crude oil production to 5 million barrels by the end of this year, up from the current rate of about 4.4 million barrels per day, to secure sorely needed cash for its ailing economy.

 

Iraq, where oil revenues make up nearly 95 percent of the budget, has been reeling under an economic crisis since 2014, when oil prices began their descent from a high of above $100 a barrel. The Islamic State group’s onslaught, starting in 2014, has exacerbated the situation — forcing Iraq to divert much of its resources to a long and costly war.

 

Addressing an energy conference in Baghdad, Oil Minister Jabar Ali al-Luaibi didn’t give details on which of the country’s oil fields would supply the increased output.

 

Late last year, Iraq joined a deal by OPEC and non-OPEC members to lower production for six months by 1.8 million barrels a day in order to prop up global oil prices. The mutual production decrease began on Jan. 1. Iraq’s share in the deal is to reduce output by 210,000 barrels a day to 4.351 million barrels.

 

“There are positive elements in that deal and we achieved a lot of its targets,” al-Luaibi told reporters on the sideline of the conference. “Work and cooperation are underway … to reach the 1.8 [million barrels a day] reduction,” he added, without divulging whether Iraq is going to support an extension to that deal.

 

OPEC Secretary-General, Mohammed Barkindo, said the compliance among the participants was 86 percent in January and 94 percent in February. Barkindo told reporters that OPEC members would consider whether to extend the production decrease agreement at a meeting next month.

 

The deal propped up the crude price to around $50 per barrel.

 

Iraq holds the world’s fourth-largest oil reserves. This year, it added 10 billion barrels, bringing its total reserves up to 153.1 billion barrels.

 

Al-Luaibi also said that more 15 billion barrels are planned to be added by 2018.

 

Iraq’s 2017 budget stands at about 100.67 trillion Iraqi dinars, or nearly $85.17 billion, running with a deficit of 21.65 trillion dinars, or about $18.32 billion. That’s based on an estimated oil price of $42 per barrel and daily export capacity of 3.75 million barrels.

 

Iraq is also grappling with a major humanitarian crisis. The U.N. estimates that more than 3 million people have been forced from their homes since 2014. It also faces growing dissatisfaction among residents of areas recaptured from IS who have had their properties demolished and suffer from scarce public services.

 

 

From: MeNeedIt