Oil (Petroleum) and Gasoline

Subterms

    More stories

    • 100 Shares99 Views

      in Elections

      Key Environmentalists Back Biden, Despite Broken Oil Promises

      by

      Four major environmental groups are endorsing President Biden’s re-election bid, but some climate activists say his approval of drilling projects has been a betrayal.Four of the country’s largest environmental organizations said they are endorsing President Biden’s bid for re-election, despite anger from activists over his approval of a string of fossil fuel projects, including an enormous oil drilling plan in Alaska and a natural gas pipeline from West Virginia through Virginia.The League of Conservation Voters, the Sierra Club, the Natural Resources Defense Council and NextGen America said they were setting aside their concerns over those projects — and the planet-warming emissions they will release.The endorsements are some of the earliest by major environmental groups in a presidential contest. It is also the first time the four groups have made a joint endorsement.In lining up behind the president more than 16 months before the election, some advocates said they hoped to remind Democratic voters that Mr. Biden had enacted the biggest climate legislation in U.S. history, pouring at least $370 billion into clean energy and electric vehicles. His administration has also proposed strict regulations on pollution from automobiles, trucks and power plants that are designed to slash the nation’s emissions to their lowest levels in decades.“This is an administration that has done more to advance climate solutions than any by far,” said Tiernan Sittenfeld, the senior vice president of government affairs for the League of Conservation Voters.The joint endorsement was announced Wednesday night at the League’s annual dinner event in Washington, where Mr. Biden gave remarks showcasing his environmental record. He is expected to pick up another endorsement, from the A.F.L.-C.I.O., at a labor rally in Philadelphia on Saturday.“Certainly we don’t agree with every decision that they’ve made, but on balance this administration has done far more than any in history,” Ms. Sittenfeld said. She said the groups intend to recruit members to raise money for Mr. Biden’s campaign, participate in phone banks and attend rallies, particularly in battleground states.Mr. Biden campaigned in 2020 on the most ambitious climate agenda of any candidate, promising to slash U.S. emissions roughly in half this decade. Young voters, who surveys show are particularly concerned about global warming, turned out in force during that election. Half of eligible voters aged 18 to 29 cast ballots in that election, one of the highest rates of participation since the voting age was lowered to 18, according to the Center for Information and Research on Civic Learning and Engagement at Tufts University.The landmark climate law Mr. Biden signed last year is projected to reduce America’s climate-warming carbon dioxide emissions by up to one billion tons in 2030, and proposed regulations could eliminate as much as 15 billion tons of carbon dioxide by 2055.But Mr. Biden also promised “no more drilling on federal lands, period. Period, period, period.”Despite that pledge, he has agreed to green-light a drilling project known as Willow on pristine federal land in Alaska and mandated the sale of offshore drilling leases as part of a deal to pass the climate bill. During negotiations with Republicans on the debt ceiling last month, Mr. Biden agreed to expedite the $6.6 billion Mountain Valley Pipeline, intended to carry natural gas about 300 miles from the Marcellus shale fields in West Virginia through Virginia to the North Carolina line. Environmental activists have been fighting that project for nearly a decade.For many young climate activists, it was the final straw.“You cannot honor the president and call him a climate champion when he is actively approving new fossil fuel projects,” said Michael Greenberg, president of Climate Defiance, a nonprofit group that has been disrupting events featuring Biden administration officials and other Democrats.Climate Defiance members intended to protest outside the League of Conservation Voters dinner on Wednesday night, Mr. Greenberg said.At a demonstration against the Mountain Valley Pipeline in front of the White House last week, Alice Hu, 25, said Mr. Biden’s climate legacy has been undercut by his approval of oil and gas development. As smoke from hundreds of Canadian wildfires hung in the air, Ms. Hu said the president needed to take on the fossil fuel industry in order to get her vote.“If he wants to count on progressive votes, if he wants to count on youth votes, he needs to stop being a climate villain,” she said.Cristina Tzintzun Ramirez, president of NextGen America, which is focused on young voters’ participation, said her group hoped to counter that dissent by endorsing Mr. Biden now. She noted that since Mr. Biden was elected in 2020, 17 million people have reached voting age.“We know we need to spend the time and money to tell young people about why their vote still matters, and that’s why we’re doing this endorsement so early.,” she said.The front-runner in the 2024 Republican field, former President Donald J. Trump, has attacked Mr. Biden’s climate policies, mocked climate science and championed the production of the fossil fuels chiefly responsible for warming the planet.Geoff Garin, a Democratic strategist and pollster, said young, climate-minded voters are going to be critical to Mr. Biden’s re-election. But he also argued that while young people want to see the president do more to tackle climate change, there is little evidence that those angry over Willow or the Mountain Valley Pipeline will have much influence.Still, Mr. Garin said, the Biden campaign needs to be better at communicating his climate achievements. “For Biden, what he’s dealing with young voters is a lack of recognition of what he’s done rather than hostility to any particular decision or policy,” he said. More

    • 88 Shares199 Views

      in Elections

      Alberta’s Conservatives Retain Power Behind Hard-Right Leader

      by

      But the United Conservative Party will hold substantially fewer seats in the legislature, in an apparent rebuff of the politics of its outspoken leader.Voters in Alberta, the oil-rich western province that is a bastion of conservatism in Canada, kept its conservative government in power on Monday but substantially reduced the number of seats it holds in the legislature, data from Canada’s national broadcaster indicated.The result, while a win for conservatives, is likely to be seen as a rebuff of the politics of Danielle Smith, the hard-right leader of the United Conservative Party who has been Alberta’s premier for seven months. Ms. Smith came to power after the party effectively rejected a more moderate conservative, Jason Kenney, as premier over his refusal to end pandemic restrictions and vaccine mandates.That revolt, led by a socially conservative wing of the party, reflected the anger in Canada that also led to the formation of a truckers’ convoy that paralyzed Ottawa, the national capital, for nearly a month.The views of Ms. Smith, a former radio talk show host and newspaper columnist who previously led another conservative party, are firmly aligned with that faction. She has declared that the unvaccinated were the “most discriminated-against group” she’d seen in her lifetime and suggested that police officers who enforced pandemic measures had committed crimes. In May, a video surfaced of her likening people who chose to be vaccinated to Germans who came to support Hitler.She has previously stated that politicians on the right in the United States were her political models and floated ideas, like fees for services in public health care, that enjoy little support across the political spectrum.United Conservative Party supporters at an election night party in Calgary, Alberta, on Monday.Todd Korol/ReutersThe Canadian Broadcasting Corporation projected early Tuesday morning that Ms. Smith and the United Conservatives would be returned to power. But the broadcaster’s data also showed that the party was leading or had been elected in just 52 electoral constituencies, down from the 63 it held before the vote. Unless the final number of seats turns out to be substantially higher, it will be the slimmest margin of victory in Alberta’s history.Many political analysts said before election night that the conservatives would have won overwhelmingly under Mr. Kenney or another more moderate leader.In a victory speech, Ms. Smith said her first act when the legislature reconvenes would be to introduce a law requiring that any future personal or business tax increases be approved by voters in a referendum, suggesting that it would make the province more attractive to investors.“We are throwing our doors wide open for businesses, large and small,” she said.She went on to reject planned federal limits on the energy industry’s carbon emissions, saying that they would not be “inflicted” on the province.As anticipated, the United Conservatives were strongest in rural areas. The New Democratic Party, led by Rachel Notley, a lawyer and former premier, had a strong showing in Edmonton, the provincial capital and one of the most left-leaning parts of the province, as well as Calgary, the largest city, which generally supports the conservatives.Rachel Notley, the New Democratic Party leader, said that despite her party’s campaign shortcomings, she would continue to lead it.Amber Bracken/ReutersAs of early Tuesday, the New Democrats, a left-of-center party co-founded by organized labor, had been elected or were leading in 35 electoral districts, a gain of 11 seats.Ms. Smith’s victory will be a challenge for Prime Minister Justin Trudeau. One of her first acts as premier was to introduce legislation that she said would allow the province to refuse to enforce federal laws, a measure that many legal experts believe to be unconstitutional.Under the United Conservatives, the future of the province’s carbon tax, which is deeply unpopular with the right, and other climate change measures may be in jeopardy. When the New Democrats held power in Alberta from 2015 to 2019, after an unprecedented victory that resulted from a fracturing of the conservatives into two parties, Ms. Notley agreed to introduce carbon taxes in exchange for Mr. Trudeau’s government purchasing an oil pipeline to the Pacific Coast to ensure its expansion.Canada’s oil and gas production, which is largely based in Alberta, accounts for 28 percent of the country’s carbon emissions.Mr. Trudeau has said that the federal government will enact caps on the sector’s emissions. Ms. Smith, on Tuesday morning, called the plan a “de facto cap on production” and promised to block the measure.The trucker protest in Ottawa last year. The views of Ms. Smith are aligned with the socially conservative wing of her party that sympathized with the protest.Brett Gundlock for The New York TimesThe New Democratic Party’s win in 2015 broke a string of conservative governments in Alberta dating to the Great Depression. But Ms. Notley’s victory coincided with a collapse in oil prices that cratered the province’s economy, sending the party’s approval ratings spiraling.On Tuesday morning, Ms. Notley said she accepted responsibility for the party’s campaign shortcomings but said that she would continue as its leader.“Although we did not achieve the result we wanted, we did achieve a major step toward it,” she told supporters. More

    • 100 Shares119 Views

      in Elections

      Alberta Fires Rage While Election Ignores Global Warming

      by

      For politicians, discussing climate change in a province enriched by oil money is fraught.When I arrived in Alberta recently to report an upcoming political story, there was no shortage of people wanting to talk about politics and the provincial election on May 29. But, even as wildfires flared earlier than usual and raged across an unusually wide swath of forest, discussions about climate change were largely absent.Destruction left behind by wildfires in Drayton Valley, Alberta.Jen Osborne for The New York TimesThe smoke that enveloped Calgary this week briefly gave the city one of the worst air-quality ratings in the world, as the fires to the north and west led to the evacuation of roughly 29,000 people across the province.[Read: A ‘Canadian Armageddon’ Sets Parts of Western Canada on Fire][Read: Canada’s Wildfires Have Been Disrupting Lives. Now, Oil and Gas Take a Hit.][Read from Opinion: There’s No Escape From Wildfire Smoke][Read: 12 Million People Are Under a Heat Advisory in the Pacific Northwest]Smoke from wildfires has blotted out the sun in Calgary, Edmonton and Vancouver several times in recent years and kept runners, cyclists and walkers indoors. Charred forests, already burned in previous wildfire seasons, lined the roads I drove in Alberta’s mountains.I had been to Alberta in 2016 to cover the fires sweeping through Fort McMurray, but that blaze, almost miraculously, took no lives except in a traffic accident. But fires in Alberta, British Columbia and Saskatchewan have become bigger and stronger, and research suggests that heat and drought associated with global warming are major reasons. When the town of Lytton, British Columbia, was consumed by wildfires in 2021, temperatures reached a staggering 49.6 degrees Celsius.Poll after poll has shown that Albertans are more or less in line with other Canadians on the need to take steps to reduce carbon emissions. But the candidates aren’t talking much about it.During Thursday’s debate between Danielle Smith, the premier and leader of the United Conservative Party, and Rachel Notley, the former premier and leader of the New Democratic Party, the subject of climate came up only in an economic context.Ms. Smith repeatedly accused Ms. Notley of springing a “surprise” carbon tax on the province, and warned that any attempt to cap emissions would inevitably lead to reduced oil production and reduced revenues for the province, (an assessment not universally shared by experts).A layer of dense smoke spread through much of Alberta this week.Jen Osborne for The New York TimesI asked Feodor Snagovsky, a professor of political science at the University of Alberta, about this apparent disconnect in Alberta between public opinion about climate change and campaign discourse.“It’s very tough to talk about oil and gas in Alberta because it’s sort of the goose that lays the golden egg,” he said. “It’s the source of a remarkable level of prosperity that the province has enjoyed for a long time.”This year oil and gas revenues will account for about 36 percent of all the money the province takes in. And during the oil embargo of the late 1970s, those revenues were more than 70 percent of the province’s budget. Among other things, that has allowed Alberta to be the only province without a sales tax and it has kept income and corporate taxes generally low relative to other provinces.But oil and gas production account for 28 percent of Canada’s carbon emissions, the country’s largest source. While the amount of carbon that’s released for each barrel produced has been reduced, increases in total production have more than offset those gains.The energy industry is also an important source of high-paying jobs, though. So the suggestion that production might have to be limited in order for Canada to meet its climate targets raises alarms.“People hear that and they think: my job’s going to go away,” Professor Snagovsky said. “It hits people really close to home.”He told me that he had lived in Australia in 2020 when that country was plagued by extreme heat and wildfires. At the time, Professor Snagovsky said, not only was there very little discussion there about climate change, but politicians and others argued that it was not an appropriate time for such talks.Professor Snagovsky said he hoped that the fires and smoke will prompt Albertans to start thinking about the climate effects that caused them, but he’s not confident that will happen.“I think it’s unlikely, but you can always hope,” he said.Trans CanadaImages made from the scan of the Titanic wreck clearly show small details.Atlantic/Magellan, via Associated PressA hyper detailed 3-D scan of the Titanic’s wreckage off Canada’s coastline has produced evocative images of the doomed steamship.A dilapidated farmhouse near Palmyra, Ontario, which is a favorite of photographers, may face demolition.Canadian Tire is among the companies picking over the ruins of Bed Bath & Beyond.A native of Windsor, Ontario, Ian Austen was educated in Toronto, lives in Ottawa and has reported about Canada for The New York Times for the past 16 years. Follow him on Twitter at @ianrausten.How are we doing?We’re eager to have your thoughts about this newsletter and events in Canada in general. Please send them to nytcanada@nytimes.com.Like this email?Forward it to your friends, and let them know they can sign up here. More

    • 88 Shares129 Views

      in Elections

      The Head Spinning Reality of Venezuela’s Economy

      by

      CARACAS, Venezuela — In the capital, a store sells Prada purses and a 110-inch television for $115,000. Not far away, a Ferrari dealership has opened, while a new restaurant allows well-off diners to enjoy a meal seated atop a giant crane overlooking the city.“When was the last time you did something for the first time?” the restaurant’s host boomed over a microphone to excited customers as they sang along to a Coldplay song.This is not Dubai or Tokyo, but Caracas, the capital of Venezuela, where a socialist revolution once promised equality and an end to the bourgeoisie.Venezuela’s economy imploded nearly a decade ago, prompting a huge outflow of migrants in one of worst crises in modern Latin American history. Now there are signs the country is settling into a new, disorienting normality, with everyday products easily available, poverty starting to lessen — and surprising pockets of wealth arising.That has left the socialist government of the authoritarian President Nicolás Maduro presiding over an improving economy as the opposition is struggling to unite and as the United States has scaled back oil sanctions that helped decimate the country’s finances.A television on sale for over $100,000 at a store in Caracas.A recently opened high-end restaurant in Caracas.Conditions remain dire for a huge portion of the population, and while the hyperinflation that crippled the economy has moderated, prices still triple annually, among the worst rates in the world.But with the government’s ease of restrictions on the use of U.S. dollars to address Venezuela’s economic collapse, business activity is returning to what was once the region’s wealthiest nation.As a result, Venezuela is increasingly a country of haves and have-nots, and one of the world’s most unequal societies, according to Encovi, a respected national poll by the Institute of Economic and Social Research of the Andrés Bello Catholic University in Caracas.Mr. Maduro has boasted that the economy grew by 15 percent last year over the previous year and that tax collections and exports also rose — though some economists stress that the economy’s growth is misleading because it followed years of huge declines.For the first time in seven years, poverty is decreasing: Half of the nation lives in poverty, down from 65 percent in 2021, according to the Encovi poll.A street vendor selling produce at $1 for each bagged vegetable in a busy downtown market in Caracas.After years of a roller-coaster economy, Venezuela has settled into a new, disorienting normality fueled by U.S. dollars.But the survey also found that the wealthiest Venezuelans were 70 times richer than the poorest, putting the country on par with some countries in Africa that have the highest rates of inequality in the world. And access to U.S. dollars is often limited to people with ties to the government or those involved in illicit businesses. A study last year by Transparency International, an anti-corruption watchdog, found that illegal businesses such as food, diesel, human and gas smuggling represented more than 20 percent of the Venezuelan economy.Though parts of Caracas bustle with residents who can afford a growing array of imported goods, one in three children across Venezuela was suffering from malnutrition as of May 2022, according to the National Academy of Medicine.Up to seven million Venezuelans have simply given up and abandoned their homeland since 2015, according to the United Nations.And despite the Maduro administration’s new slogan — “Venezuela is fixed” — many scrape by on the equivalent of only a few dollars a day, while public-sector employees have taken to the streets to protest low salaries.“I have to do back flips,” said María Rodríguez, 34, a medical lab analyst in Cumaná, a small city 250 miles east of the capital, explaining that, to pay for food and her daughter’s school tuition, she relied on two jobs, a side business selling beauty products and money from her relatives.Yrelys Jiménez, a preschool teacher in San Diego de los Altos, a half-hour drive south of Caracas, joked that her $10 monthly salary meant “food for today and hunger for tomorrow.” (The restaurant that allows diners to eat 150 feet above the ground charges $140 a meal.)Yrelys Jiménez with her son and daughter in their shared bedroom.Ms. Jiménez during the long walk home with her children from her job as a teacher.Despite such hardship, Mr. Maduro, whose administration did not respond to requests for comment, has focused on promoting the country’s rising economic indicators.“It seems that the sick person recovers, stops, walks and runs,” he said in a recent speech, comparing Venezuela with a suddenly cured hospital patient.The United States’ shifting strategy toward Venezuela has in part benefited his administration.In November, after the Maduro administration agreed to restart talks with the opposition, the Biden administration issued Chevron an extendable six-month license to pump oil in Venezuela. The deal stipulates that the profits be used to pay off debts owed to Chevron by the Venezuelan government.And while the United States still bans purchases from the state oil company, the country has increased black-market oil sales to China through Iran, energy experts said.A ceiling of floating sculptures in a luxury department store in Caracas.The Venezuelan government’s easing of restrictions on dollars has made it easier for some people to use money sent from abroad.Mr. Maduro is also emerging from isolation in Latin America as a regional shift to the left has led to a thaw in relations. Colombia and Brazil, both led by recently elected leftist leaders, have restored diplomatic relations. Colombia’s new president, Gustavo Petro, has been particularly warm to Mr. Maduro, meeting with him repeatedly and agreeing to a deal to import Venezuelan gas.With presidential elections planned next year and the opposition’s parallel government having recently disbanded, Mr. Maduro seems increasingly confident about his political future.Last year’s inflation rate of 234 percent ranks Venezuela second in the world, behind Sudan, but it pales in comparison to the hyperinflation seen in 2019, when the rate ballooned to 300,000 percent, according to the World Bank.With production and prices up, Venezuela has also started to see an increase in revenues from oil, its key export. The country’s production of nearly 700,000 barrels a day is higher than last year’s, though it was twice as high in 2018 and four times as high in 2013, said Francisco J. Monaldi, a Latin America energy policy fellow at Rice University.The Venezuelan government’s loosening of restrictions on dollars has made it easier for some people to use money sent from abroad. In many cases, no cash is actually exchanged. Venezuelans with means increasingly use digital apps like Zelle to use dollars in accounts outside the country to pay for goods and services.Friends celebrating a birthday at a trendy restaurant in Caracas.A survey found that the wealthiest Venezuelans were 70 times richer than the poorest residents.Still, U.S. officials call Venezuela’s economic picture somewhat illusory.“They were able to adjust to a lot of their problems after sanctions were implemented through dollarization,” according to Mark A. Wells, a deputy assistant secretary of state, “and so it starts to look over time that they are able to reach a status that basically helps the elites there, but the poor are still very, very poor.’’“So, it’s not that everything is more stable and better there,” Mr. Wells added.Mr. Maduro took office nearly 10 years ago and was last elected in 2018 in a vote that was widely considered a sham and was disavowed by much of the international community.The widespread belief that Mr. Maduro won fraudulently led the National Assembly to deem the presidency vacant and use a provision in the Constitution to name a new leader, Juan Guaidó, a former student leader. He was recognized by dozens of countries, including the United States, as Venezuela’s legitimate ruler.But as the figurehead of a parallel government that had oversight over frozen international financial accounts, he had no power within the country.Juan Guaidó led a parallel government that was recognized by the United States but held no power.Scavenging a large garbage bin at a street market in Caracas. Half of the nation lives in poverty, down from 65 percent in 2021.In December, the National Assembly ousted Mr. Guaidó and scrapped the interim government, a move some observers considered a boost to Mr. Maduro. A number of opposition figures have announced that they will run in a primary scheduled for October, even though many political analysts are skeptical that Mr. Maduro will allow a credible vote.“What Maduro does have today is an opposition that is disjointed and dispersed,” Mr. Guaidó said in an interview. “He also has a majority of the people against him. He continues being a dictator without popular support, a destroyed economy, which was his own fault, with professors, nurses, older people and workers protesting right now as we speak.”Even people like Eugenia Monsalves, who owns a medical supply company in Caracas and sends her two daughters to private schools, is frustrated with the country’s direction.Though she is upper middle class, she said she still had to watch how she spends her money.She goes out to eat occasionally and has visited some of the city’s new luxury stores, but without buying anything.“The vast majority of Venezuelans live in a complicated situation, very complicated,” she said.Ms. Monsalves believes the Maduro administration needs to go, but she worries that the best candidates were forced into exile or disqualified. The opposition, she said, has not coalesced around what it most needs: a leader who can energize the electorate.“That’s what I most want, like many other Venezuelans,” she said. “But the truth is that without a clear vision from the opposition, a clear platform from a single candidate, I think it’s going to be hard.”An upscale restaurant built inside a recently renovated hotel in Caracas.Nayrobis Rodríguez contributed reporting from Sucre, Venezuela, and More

    • 75 Shares169 Views

      in Elections

      Ferrari, Prada y hambre en Venezuela

      by

      CARACAS, Venezuela — En la capital, una tienda vende bolsos de Prada y un televisor de 110 pulgadas por 115.000 dólares. No muy lejos, un concesionario de Ferrari ha abierto, y un nuevo restaurante permite que los comensales acomodados disfruten de una comida sentados encima de una grúa gigantesca con vistas a la ciudad.“¿Cuándo fue la última vez que hicieron algo por primera vez?”, gritaba por el micrófono el anfitrión del restaurante a los clientes emocionados, mientras cantaban una canción de Coldplay.Esto no es Dubái ni Tokio, sino Caracas, la capital de Venezuela, donde una revolución socialista prometió igualdad y el fin de la burguesía.La economía de Venezuela colapsó hace casi una década, lo que provocó un enorme flujo de emigrantes en una de las peores crisis de la historia moderna de América Latina. Ahora hay indicios de que el país se está asentando en una nueva y rara normalidad, con productos cotidianos fácilmente disponibles, una pobreza que empieza a disminuir y asombrosas áreas de opulencia.Esto ha dejado al gobierno socialista del presidente autoritario de Venezuela, Nicolás Maduro, liderando un país en el que la economía está mejorando, la oposición batalla por unirse y Estados Unidos ha comenzado a reducir las sanciones petroleras que habían contribuído a obstaculizar las finanzas.Un televisor en venta a un precio superior a 100.000 dólares en una tienda de CaracasUn restaurante costoso que abrió recientemente en Caracas.Las condiciones siguen siendo terribles para una gran parte de la población, y aunque la hiperinflación que paralizó la economía se ha moderado, los precios siguen triplicándose anualmente, una de las peores tasas del mundo.Pero con la relajación por parte del gobierno de las restricciones al uso de dólares estadounidenses para hacer frente al colapso económico de Venezuela, la actividad empresarial está volviendo al que fue el país más rico de la región.Como resultado, Venezuela es cada vez más un país de ricos y pobres, y una de las sociedades más desiguales del mundo, según Encovi, una respetada encuesta nacional realizada por el Instituto de Investigaciones Económicas y Sociales de la Universidad Católica Andrés Bello.Maduro se ha jactado de que la economía creció un 15 por ciento el año pasado, con respecto al anterior, y de que la recaudación de impuestos y las exportaciones también aumentaron, aunque algunos economistas subrayan que el crecimiento de la economía es engañoso porque se produjo tras años de enormes caídas.Por primera vez en siete años, la pobreza está disminuyendo: la mitad del país vive en la pobreza, frente al 65 por ciento en 2021, según la encuesta de Encovi.Un puesto vende verduras a un dólar por pieza en bolsa en un mercado ajetreado en el centro de Caracas.Luego de años de un subibaja económico, Venezuela se ha instalado en una nueva y desconcertante normalidad impulsada por los dólares estadounidenses.Pero la encuesta también reveló que los venezolanos más ricos eran 70 veces más ricos que los más pobres, lo que pone al país a la par con algunos países de África que tienen las tasas más altas de desigualdad en el mundo.Y el acceso a los dólares estadounidenses está limitado a personas con vínculos al gobierno o a quienes están involucrados en negocios ilícitos. Un estudio del año pasado de Transparencia Internacional, una organización anticorrupción, halló que negocios ilegales como el contrabando de comida, gasolina, personas y gas representaban más del 20 por ciento de la economía venezolana.Aunque algunas zonas de Caracas están llenas de residentes que pueden adquirir una creciente variedad de productos importados, uno de cada tres niños en toda Venezuela sufría desnutrición en mayo de 2022, según la Academia Nacional de Medicina.Alrededor de siete millones de personas se han dado por vencidas y han huido de su patria desde 2015, según las Naciones Unidas.A pesar del nuevo mensaje del gobierno de Maduro —“Venezuela se arregló”—, muchos sobreviven con el equivalente a solo unos pocos dólares al día, y los empleados del sector público han salido a la calle para protestar por los bajos salarios.“Tengo que hacer maromas”, dijo María Rodríguez, de 34 años, analista de laboratorio médico en Cumaná, una pequeña ciudad ubicada a 400 kilómetros al este de la capital. Rodríguez dice que, para pagar la comida y la matrícula escolar de su hija, dependía de dos trabajos, un negocio paralelo de venta de productos de belleza y el dinero de sus familiares.Yrelys Jiménez, profesora de preescolar con estudios universitarios en San Diego de los Altos, una localidad ubicada a media hora en coche al sur de Caracas, bromeaba diciendo que su salario mensual de 10 dólares significaba “pan para hoy y hambre para mañana”. (El restaurante que permite que los comensales coman a 45 metros sobre el suelo cobra 140 dólares por comida).Yrelys Jiménez con sus hijos en la habitación que comparten.Jiménez en su larga caminata a casa con sus hijos, al volver de su trabajo como maestra.A pesar de estas penurias, Maduro, cuyo gobierno no respondió a las solicitudes de comentarios, se ha centrado en promover los crecientes indicadores económicos del país.“Parece que el enfermo se recupera, se para, camina y corre”, dijo Maduro en un discurso reciente, comparando a Venezuela con un paciente de hospital que se cura repentinamente.El cambio de estrategia de Estados Unidos hacia Venezuela ha beneficiado en parte a su gobierno.En noviembre, después de que el gobierno de Maduro accediera a reanudar las conversaciones con la oposición, el gobierno de Biden concedió a Chevron una licencia de seis meses, prorrogable, para extraer petróleo en Venezuela. El acuerdo estipula que los beneficios se utilicen para pagar las deudas que el gobierno venezolano tiene con Chevron.Y, mientras Estados Unidos sigue prohibiendo las compras a la petrolera estatal, el país ha aumentado las ventas de petróleo en el mercado negro a China a través de Irán, según los expertos en energía.Esculturas flotantes en una tienda departamental de lujo en CaracasLa flexibilización de las restricciones sobre los dólares por parte del gobierno venezolano ha facilitado que algunas personas gasten el dinero enviado desde el extranjero.Maduro también está saliendo del aislamiento de sus vecinos latinoamericanos porque un giro regional hacia la izquierda ha provocado el deshielo de las relaciones. Colombia y Brasil, ambos dirigidos por líderes de izquierda recientemente elegidos, han restablecido las relaciones diplomáticas. El nuevo presidente de Colombia, Gustavo Petro, ha sido particularmente cálido con Maduro, reuniéndose con él en repetidas ocasiones y acordando un acuerdo para importar gas venezolano.Con las elecciones presidenciales previstas para el próximo año y la reciente disolución del gobierno paralelo de la oposición, Maduro parece cada vez más confiado en su futuro político.La tasa de inflación del año pasado, del 234 por ciento, sitúa a Venezuela en el segundo lugar del mundo, por detrás de Sudán, pero palidece en comparación con la hiperinflación registrada en 2019, cuando la tasa se disparó hasta el 300.000 por ciento, según el Banco Mundial.Con la producción y los precios del crudo al alza, Venezuela también ha empezado a experimentar un aumento de los ingresos procedentes del petróleo, su exportación clave. La producción del país, de casi 700.000 barriles al día, es superior a la del año pasado, aunque fue dos veces mayor en 2018 y cuatro veces mayor en 2013, dijo Francisco J. Monaldi, investigador de política energética de América Latina en la Universidad Rice.La flexibilización por parte del gobierno venezolano de las restricciones sobre los dólares ha facilitado que algunas personas puedan usar el dinero enviado desde el extranjero. En muchos casos, no se intercambia dinero en efectivo. Los venezolanos con medios utilizan cada vez más aplicaciones digitales como Zelle para usar dólares en cuentas del extranjero para pagar bienes y servicios.Amigas celebran un cumpleaños en un restaurante de moda en Caracas.Una encuesta halló que los venezolanos más adinerados eran 70 veces más ricos que los más pobres.Aun así, los funcionarios estadounidenses califican el panorama económico de Venezuela de ilusorio de alguna manera.“Fueron capaces de ajustarse a muchos de sus problemas tras la aplicación de las sanciones a través de la dolarización”, según Mark A. Wells, subsecretario de Estado adjunto, “por lo que con el tiempo empieza a parecer que son capaces de alcanzar un estatus que básicamente ayuda a las élites de allí, pero los pobres siguen siendo muy, muy pobres”.“Por lo tanto, no es que todo sea más estable y mejor ahí”, agregó Wells.Maduro asumió el cargo hace casi 10 años y fue reelegido en 2018 en unos comicios ampliamente considerados como una farsa y que fueron repudiados por gran parte de la comunidad internacional.La creencia generalizada de que Maduro ganó fraudulentamente llevó a la Asamblea Nacional elegida democráticamente a declarar vacante la presidencia en 2019 y utilizar una disposición de la Constitución para nombrar a un nuevo líder, Juan Guaidó, un exdirigente estudiantil. Fue reconocido por decenas de países, incluido Estados Unidos, como gobernante legítimo de Venezuela.Pero como figura principal de un gobierno paralelo que supervisaba las cuentas financieras internacionales congeladas, carecía de poder dentro del país.Juan Guaidó lideró un gobierno reconocido por Estados Unidos pero que no tenía poder dentro del país.Rebuscando en un gran contenedor de basura en un mercado callejero de Caracas. La mitad del país vive en la pobreza, menos que el 65 por ciento que vivía en esa situación en 2021.En diciembre, la Asamblea Nacional destituyó a Guaidó y eliminó el gobierno interino, una medida que algunos observadores consideraron como un impulso a Maduro. Varias figuras de la oposición han anunciado que se presentarán a las primarias previstas para finales de octubre, a pesar de que muchos analistas políticos son escépticos de que Maduro permita una votación creíble.“Lo que Maduro tiene hoy es una oposición desarticulada y dispersa”, dijo Guaidó en una entrevista telefónica. “También tiene a la mayoría del pueblo en su contra. Sigue siendo un dictador sin apoyo popular, una economía destruida por su propia culpa, con profesores, enfermeras, ancianos y trabajadores protestando ahora mismo mientras hablamos”.Incluso gente como Eugenia Monsalves, propietaria de una empresa de suministros médicos en Caracas y que envía a sus dos hijas a colegios privados, está frustrada con el rumbo del país.Aunque es de clase media alta, dice que tiene que cuidar cómo gasta su dinero.Sale a comer de vez en cuando y ha visitado algunas de las nuevas tiendas de lujo de la ciudad, pero sin comprar nada.“La gran mayoría de los venezolanos viven una situación complicada, muy complicada”, dijo.Monsalves cree que el gobierno de Maduro debe irse, pero le preocupa que los mejores candidatos hayan sido forzados al exilio o descalificados. La oposición, dijo, no se ha unido en torno a lo que más necesita: un líder que pueda energizar al electorado.“Eso es lo que yo más quisiera, así como muchísimos otros venezolanos”, dijo. “Pero la verdad es que de esta manera, y sin un panorama claro de la oposición, una propuesta clara de un candidato, lo veo muy difícil”.Un restaurante de lujo en un hotel recién remodelado en Caracas.Nayrobis Rodríguez colaboró con reporteo desde Sucre, Venezuela, y More

    • 75 Shares129 Views

      in Elections

      Tucker Carlson Is No Less Dangerous

      by

      Gail Collins: Bret, we have all kinds of deeply important issues to tackle. But let’s start with Tucker Carlson. We’ve learned he didn’t really believe all the stuff he said on TV about a “stolen” election. Shocking!Bret Stephens: They say that hypocrisy is the homage that vice pays to virtue, but in this case it’s the tribute that cynicism pays to cowardice.Gail: Since you’re in charge of that side of our world, I really want to hear your opinion.Bret: I sometimes think of Carlson in the same mold as Father Coughlin, but worse: At least Coughlin was an honest-to-God fascist, a sincere bigot, whereas Carlson only plays one on TV for the sake of ratings.Gail: Wow, been a while since I heard a Father Coughlin comparison.Bret: As for Fox, the way in which they are trying to “respect” their viewers is to lie to them. I can only wish Dominion Voting Systems well in its $1.6 billion lawsuit against the network for claiming that their voting machines played a role in Trump’s loss. I believe in strong protections against frivolous lawsuits, but knowingly and recklessly spreading falsehoods about the subject of one’s reporting is the very definition of — dare I say it — fake news.Gail: Glad we can come together on the importance of not making up the news.Bret: But Gail, let’s move on to weightier things. Like President Biden’s dead-on-arrival $6.8 trillion budget. Your thoughts?Gail: Yippee! Whenever I wonder if we’re ever going to have a serious fight again, government spending rears its head.So let’s have at it. Obviously, Biden knows his plans aren’t going anywhere with a Republican-sort-of-controlled House. But he’s laying his cards down, and I think the cards look great.Bret: Explain.Gail: He’s ready to raise taxes on the rich. Good for him! Right now the Republicans seem to be claiming we can keep taxes as they are, or lower, plus protect Social Security and Medicare, plus protect or increase military spending. Which would, I believe, cut the rest of the budget by 70 percent.Bret: To steal a line from “Pride and Prejudice,” “My feelings are so different. In fact, they are quite the opposite.”Gail: Love that you’re bringing up Jane. Even if it’s to disagree with me.Bret: Ten years ago, federal spending was $3.45 trillion. Biden’s budget request is double that, and he has the chutzpah to suggest he wants to reduce the deficit — achieved almost entirely by huge tax increases instead of spending discipline.Gail: I will refrain from referring at length to a super-deficit-exploder named Donald Trump. Who was very much with his party’s program in one sense — pretending to be anti-deficit without proposing anything difficult to reduce it. Of course, the gang is OK with cutting back on, say, child care. Which makes it tougher for single parents to go to work and create a better future for the whole family.Bret: I too will refrain from noting that, godawful as Trump was, his final pre-Covid 2019 budget request was around $4.75 trillion, which is still $2 trillion less than Biden’s current request. I’m also not too thrilled by Biden’s proposal for higher taxes, including a nakedly unconstitutional tax on the appreciated assets of very rich people. It won’t pass, which I guess is the point, since the budget is less of a serious proposal and more of a campaign platform.Speaking of platforms: Your thoughts on the administration’s reported decision to approve an $8 billion oil-drilling project in the Alaskan wilderness?Gail: I’m horrified, actually. We’re supposed to be worrying about global warming and Biden is approving a plan that, as our story pointed out, will have an effect equivalent to adding almost two million more cars a year on the roads.Bret: OK, so now it’s my turn to cheer Biden while you jeer. We’re going to need oil for decades to come no matter how many electric vehicles we build, and the oil has to come from somewhere. Europe has discovered the price of relying on Russia for its energy, and I’d much rather have our gas come from a remote corner of Alaska, extracted by American workers, under American regulations, than from, say, Venezuela or Iran.But I’m really curious to see how this will play out within the Democratic Party. To me it looks like a crucial test of whether the party will again reach out to its old blue-collar manufacturing base or move further into the orbit of knowledge-industry workers with, well, coastal values. What do you think?Gail: The Biden administration is obviously going along with labor, lower-cost energy and all the other stuff you think of when you’re running for re-election. Democrats who worry about the environment may be rightfully horrified, but I doubt it’ll cost Biden votes. When the elections roll around, they’ll realize the other side is worse.Bret: Smart political advice.Gail: Still, the least the oil-drilling forces could do would be to apologize in advance to the kids who are currently in kindergarten and will have to live with the results.Bret: Also known as jobs and energy security.Gail: Hey, talking about youth reminds me of … oldth. I was so sorry to hear Mitch McConnell had fallen and been hospitalized with a concussion. He’s 81 and you can’t help wondering if he’s coming to the end of his career as the Senate Republican leader. Any predictions?Bret: First of all, we’ve got to petition the O.E.D. to make “oldth” a word as the appropriate antonym of youth. Second, I wish the senator a speedy recovery.His bigger problems, though, aren’t his physical stumbles but his political ones. He let Biden score his unexpected political wins last year. He’s fallen between two stools when it came to Trump: not Trumpy enough for Trump and his crowd, but not brave enough to stand up to them and move the party past them — like when he lambasted Trump after Jan. 6 but refused to vote to convict him during his second impeachment trial. And he’s been the Republican Senate leader forever, or at least it feels that way.Gail: So who’s next?Bret: He’d probably be wise to step aside for his whip, South Dakota’s John Thune, except that the Trumpians hate Thune for his anti-denialist position when it came to the 2020 election.Gail: Well, if you want to see the kind of leader that can crawl between the regular Republicans and the Trumpians, there’s … Kevin McCarthy. Senators would be better off with a hospitalized McConnell.Bret: A very good point. Since we’re speaking of Trump, your thoughts on his potential indictment?Gail: So many to choose from! Are we talking about the secret government documents he piled up at Mar-a-Lago, or his attempt to interfere with Georgia’s 2020 ballot counting, or the hush money paid to Stormy Daniels, the ex-lover Trump wanted to keep quiet? Although possibly as much about his sexual ineptitude as his marital sins? Pick one, Bret.Bret: My general view with most of these legal efforts is that, merited though they may be, they are more likely to help Trump than to hurt him. The weakest case seems to be the one that may be closest to an actual indictment — the alleged hush money payments to the alleged paramour Stormy Daniels. Problem there is that the star witness, the former Trump lawyer Michael Cohen, is an ex-felon with a big-time ax to grind against his former boss.Gail: Well, when your witnesses have to be people who spent a lot of quality time with Donald Trump, the options will almost always be depressing.Bret: The stronger case is the one in Georgia. Then again, is a jury in Georgia going to vote unanimously to convict the former president? Color me skeptical. At this point, the most realistic way for the country to be done with Trump is if Ron DeSantis or some other Republican defeats him, fair and square, in the race for the G.O.P. nomination. Which is why you’re strongly rooting for DeSantis to jump in the race, am I right?Gail: Oh, Bret, it’s so hard to admit I’d rather see Trump as the nominee than DeSantis, but it’s true. I would. Rather have a terrible Republican with no real fundamental values than one who has strong but terrible commitments and is a genuine obsessive on social issues like abortion rights.Bret: That sound you just heard was my jaw hitting the floor. But I’m giving you full points for total honesty.Gail: Plus, if we have to live through two years of presidential politics featuring Joe Biden on one side, I’d rather have the awful, wrong-thinking Republican who isn’t also incredibly boring. Is that shallow?Bret: Other than for the entertainment value, do you prefer to have Trump as the nominee because you think he has no chance of winning the election? You could very well be right. Then again, I remember how that worked out in 2016.The Times is committed to publishing a diversity of letters to the editor. We’d like to hear what you think about this or any of our articles. Here are some tips. And here’s our email: letters@nytimes.com.Follow The New York Times Opinion section on Facebook, Twitter (@NYTopinion) and Instagram. More

    • 100 Shares129 Views

      in Elections

      What Exxon Knew, but Concealed, About Climate Change

      by

      More from our inbox:The U.S. Embassy in IsraelPaying Off Our DebtsWhy Use Real Guns on Movie Sets?Election Deniers Wasting Taxpayer FundsDarren Woods, ExxonMobil’s C.E.O., appeared before the House Oversight Committee via video link in 2021.Jacquelyn Martin/Associated PressTo the Editor:Re “Exxon Scientists Saw Global Warming, as Oil Giant Cast Doubt, Study Says” (Business, Jan. 13):Exxon knew that its fuels would contribute to overheating the planet, yet it chose to deceive the public. It’s the very definition of fraud. Fossil fuel interests and their political allies are carrying out a fraud on humanity. They enjoy massive profits while their products are causing disease, death and disruption around the world.More than eight million people die annually from fossil fuel pollution. Societies are burdened by billions of dollars in damages from climate-fueled heat waves, wildfires, droughts, floods and sea rise.How can we hold them accountable? Many cities and states have filed lawsuits against fossil fuel companies seeking damages.We citizens can demand congressional action to end fossil fuel subsidies, enact carbon pricing to make the polluters pay, subsidize clean energy, speed electrification, reform the permitting process for renewable energy, and sequester carbon through healthier forests and better agricultural practices.Robert TaylorSanta Barbara, Calif.To the Editor:The revelation that Exxon scientists in the 1970s correctly projected the long-term climate impacts of burning fossil fuels, while publicly claiming ignorance, is both unsurprising and infuriating. Rising profits beat rising sea levels every time.Communities on the front lines of the climate crisis have long felt the environmental, economic and health consequences of burning oil, gas and coal. It stands to reason that scientists employed by big polluters would reach the same conclusions.When lead paint and tobacco companies were found to have known the negative health effects of their products, but spent decades concealing them, a public reckoning — with significant monetary damages — followed. It is long past time for the fossil fuel industry to face the same kind of accountability.Zellnor Y. MyrieBrooklynThe writer is a New York State senator for the 20th District.To the Editor:It is indeed unfortunate that Exxon was not forthcoming about its studies and its scientifically accurate projections of global warming. We can use this information to vilify Exxon Mobil, and certainly it deserves criticism, or we can use the information to acknowledge that a great deal of untapped expertise resides in the private energy industry that can be harnessed to address climate change.It would be highly productive if the federal government worked with energy corporations, where so much energy expertise resides, helping them make the socially beneficial decisions that are required to move toward nonpolluting and climate-friendly sources of energy.The government could help fund research and provide economic assistance to construct new infrastructure, which would ease the monetary challenges in transitions.Make the oil and energy industry part of the solution, as opposed to the problem.Ken LefkowitzMedford, N.J.The writer is a former employee of PECO Energy, an electric and gas utility.To the Editor:Thank you for this article, but this is not news. We have known for some time that the oil companies have been deliberately misrepresenting the facts regarding global warming, when they knew better.The Union of Concerned Scientists published “The Climate Deception Dossiers” in 2015. This document is a compilation of evidence that the oil companies knew what greenhouse gases would do to the Earth.In addition, the magazine Scientific American published an article in 2015 that stated that Exxon knew about global warming in 1977.Joseph MilsteinBrookline, Mass.The U.S. Embassy in IsraelThe lot in Jerusalem that is a candidate for a new U.S. embassy.Ofir Berman for The New York TimesTo the Editor:Re “Don’t Build the Jerusalem Embassy Here,” by Rashid Khalidi (Opinion guest essay, Jan. 17):Dr. Khalidi’s view of international law, history and politics demands a response.When the British withdrew from Palestine in 1948, the Jewish organizations had embraced the 1947 U.N. General Assembly resolution recommending partition into predominantly Jewish and Arab states. Arabs rejected the recommendation and attacked. If there was a “nakba” (catastrophe), it was of their making.Second, Israel did not wake up one day and decide to march into East Jerusalem, the West Bank, the Gaza Strip and the Golan Heights. Egypt, Syria and Jordan engaged in armed aggression in 1967 with the stated objective of pushing the Jews into the sea. Israel exercised its inherent right of self-defense under the U.N. Charter.There is not an international right of return law. That argument is an excuse for destroying Israel as a Jewish state.Moving the U.S. embassy to Jerusalem recognized the location of Israel’s capital and sent an important signal to those who advocate the destruction of Israel. Real peace between Israel and the Palestinians will happen when both sides recognize a need to compromise.Nicholas RostowNew YorkThe writer is a former legal adviser to the National Security Council and general counsel and senior policy adviser to the U.S. ambassador to the United Nations.Paying Off Our DebtsThe Treasury Department is using so-called extraordinary measures to allow the federal government to keep paying its bills.Kenny Holston/The New York TimesTo the Editor:Re “U.S. Hits Debt Cap, Heightening Risk of Economic Pain” (front page, Jan. 20):If the debt limit is not raised, then the U.S. will be unable to make payments to some of its creditors, employees and entitlement programs that it is legally obligated to make.How nifty! My wife and I have a mortgage and a car loan. We have decided that our personal debt level is too high. So, we plan to send our bank a letter today saying that we will no longer make our mortgage or car payments.On second thought, scratch that. I know what our bank would say. And it would be right.If we need to reduce our debt as a nation, then — like my wife and me — let’s do it by reducing future spending commitments, not by failing to make current payments that we have already legally committed ourselves to make.Craig DuncanIthaca, N.Y.Why Use Real Guns on Movie Sets?Alec Baldwin on set of the film “Rust” in near Santa Fe, N.M., after the death of the cinematographer Halyna Hutchins in October 2021.Agence France-Presse, via Santa Fe County Sheriff’s OfficeTo the Editor:Re “Baldwin to Face Pair of Charges in Movie Death” (front page, Jan. 20):Why do actors need to use real guns? They use fake props for everything else!If we can send people to the moon and create self-driving cars, you would think that we could create realistic-looking guns, instead of real ones, that actors could use in movies and theaters.If they had done that on the set of “Rust,” the western that Alec Baldwin was filming, no one would have died. It’s a simple solution to prevent anything like this from happening again.Ellen EttingerNew YorkElection Deniers Wasting Taxpayer FundsA ballot cast for former President Donald J. Trump that was part of the county’s recount.Kriston Jae Bethel for The New York TimesTo the Editor:Re “Despite Recount of 2020 Ballots, County’s Deniers Cling to Doubts” (front page, Jan. 16):Sensible taxpayers have the right to ask why their tax funds and the time of civil servants are spent on a request for an additional recount or audit of a verified and certified vote absent any evidence of fraud or irregularity.Where no reasonable probable cause exists for any such recount or audit, then any re-examination should be completely at the expense and time of the party that initiated it, especially when these beliefs are conjured up by conspiratorial fantasies or motivated by bad faith.Government officials and civil servants need to be free to focus on the needs of all, and not just the aims of a divisive and selfish minority.Jim CochranDallas More

    • 150 Shares189 Views

      in Elections

      Oil Prices Rise as the West Imposes a Cap on Russian Crude

      by

      Energy traders pushed crude prices higher on Monday following Europe’s embargo of seaborne Russian crude and a price cap by Group of 7 nations went into effect.Will Russia find buyers for its crude?Sergei Karpukhin/ReutersOil prices climb despite efforts to cap Russian exports Crude oil prices rose this morning after a whirlwind of events that could drastically alter the supply and pricing of energy this winter.An E.U. embargo on Russia’s seaborne oil imports went into effect on Monday, following a decision on Sunday by OPEC producers and Russia to keep production quotas unchanged. Those developments, together with an agreement on Friday by Group of 7 nations to impose a $60 price cap on Russian crude and the emergence of more signs that China is easing its Covid restrictions, set off a modest buying spree among energy traders.By 6 a.m. Eastern, Brent crude, the global benchmark, climbed 2.7 percent, topping $87 per barrel, and West Texas Intermediate was above $82 a barrel.Crude prices have whipsawed since Russia’s invasion of Ukraine in February, rocketing above $100 per barrel in the spring, only to fall over the summer on fears of a global recession. A slowdown in China in particular had capped demand, but prices have remained volatile.Analysts have been scrutinizing fallout from the oil price cap, a move designed to punish Russia for the war in Ukraine — but also meant to avoid significant distortions in the energy markets that would force consumers and businesses to pay even higher prices for fuel.Unsurprisingly, Moscow said this weekend that it wouldn’t accept the Western price cap, and that it would cut sales to countries that participate in the arrangement. How much of an effect that will have is unclear: Even before Monday, European countries have systematically reduced their Russian crude purchases since the start of the war in Ukraine — only for China to step in and buy more oil, often at a discount. But in recent weeks, China has paused some purchases as it waited for details of the price cap to be announced.Helima Croft, the head of global commodity strategy at RBC Capital Markets, warned in an investor note this weekend that prices could be even more volatile in the weeks ahead as traders watch for signs that Russia could fully cut off oil exports to former trading partners in retaliation for the price cap.HERE’S WHAT’S HAPPENING Chinese cities ease zero-Covid restrictions. Shenzhen and Shanghai were the latest big cities to scrap requirements like testing before traveling on public transport, following widespread protests against Beijing’s tough pandemic rules. Shares in Hong Kong and Shanghai jumped amid investor hopes of a broader easing of Chinese Covid restrictions, though analysts warned such a move would take time.Lachlan Murdoch is set to testify in a Fox News lawsuit on Monday. The C.E.O. of Fox will be deposed as part of a lawsuit against the network by Dominion Voting Systems. He is the highest-ranking executive to be ensnared in the lawsuit, in which Dominion argues it was defamed by Fox News anchors repeatedly amplifying false claims about the company’s voting machines in the 2020 election.Wall Street banks weigh cutting bonuses. Bank of America, Citigroup and JPMorgan Chase may cut bonus pools for investment bankers by as much as 30 percent, Bloomberg reports, amid a steep drop in M.& A. activity. That follows plans by Goldman Sachs to cut bonuses for its traders, even though their division posted strong results.Credit Suisse’s investment bank spinoff reportedly draws big new backers. Crown Prince Mohammed bin Salman of Saudi Arabia and a merchant bank run by the former Barclays C.E.O. Bob Diamond may invest in CS First Boston, which is set to be spun off from Credit Suisse, The Wall Street Journal reports. The spinoff is a key part of the Swiss bank’s planned revamp.Delta reaches a nearly $8 billion pay-raise deal with pilots. The agreement in principle would raise pilots’ pay by 31 percent over four years, as well as include a one-time payout. If finalized, the agreement will set a baseline for other airlines in their negotiations with pilots.Crypto’s false calm If this is the crypto apocalypse, investors see a buying opportunity. The price of Bitcoin is up nearly 7 percent, or almost $1,200, in the past week, to just under $17,400.But that market calm does not mean the crypto contagion is contained. The fallout from the collapse last month of Sam Bankman-Fried’s crypto exchange, FTX, has spread to other firms, setting off a wave of layoffs, lawsuits and investigations. Shareholders of Silvergate, the U.S. bank that processed payments and money transfers for FTX, sued the bank for negligence, calling the exchange a Ponzi scheme.Meanwhile, customers of Gemini, the crypto exchange owned by the Winklevoss twins, are owed as much as $900 million from Genesis, the crypto lender that has faced severe financial distress since FTX’s collapse, according to The Financial Times. And ByBit, a major crypto exchange, announced this weekend that it would cut 30 percent of its staff, the latest firm to cut its head count as digital asset prices sink.Here’s what else is happening in crypto:Mr. Bankman-Fried said on Sunday that he would be willing to testify before the House Financial Services Committee. The catch: S.B.F., as he is known, probably won’t be ready to speak with lawmakers in time for Dec. 13 hearings into the implosion of FTX.Mr. Bankman-Fried’s media tour shows no signs of slowing down. He told The Financial Times that he regretted giving Alameda Research, the trading affiliate of FTX, favorable borrowing limits.S.B.F.’s father, the Stanford law professor Joseph Bankman, has canceled a class he was set to teach next year. Bankman did work for FTX’s philanthropic efforts and is helping with his son’s legal defense.FTX’s bankruptcy has international regulators, including those in Cyprus, Turkey and the Bahamas, squabbling over the company’s assets, potentially complicating which customers get repaid and how much.Andrew Vara, the U.S. bankruptcy trustee for FTX’s case, called on the Delaware court to appoint an independent examiner into the exchange’s sudden collapse, saying there is substantial evidence to suggest that misconduct and fraud were involved.Even though calls for investigations are intensifying, that doesn’t mean Bankman-Fried’s arrest is imminent.On the light side: S.B.F., an eager player of the League of Legends video game, has been getting shade from the likes of Elon Musk and Representative Alexandria Ocasio-Cortez for being a mediocre player.Have normal times returned to Twitter? Elon Musk is still running Twitter, so naturally, there is still plenty of drama around the social network — notably in the billionaire owner’s decision to actively promote the release of internal documents about executives’ 2020 decision to restrict tweets linking to a news report about Hunter Biden.Despite that, it appears that some major advertisers are slowly returning to Twitter’s platform, after many hit pause following Musk’s promise to revamp how the site moderates user content.Amazon plans to resume buying ads on Twitter, to the tune of $100 million a year, according to Zoë Schiffer of Platformer. Although the e-commerce giant, unlike others, had not quit its ad spending altogether since Musk’s takeover, it had paused some of its campaigns.Meanwhile, Mr. Musk said in a live audio event on Twitter over the weekend that Apple had “fully resumed” ad spending on the social network. The iPhone maker has long been one of the biggest ad purchasers on Twitter. Last week, Mr. Musk said that he had resolved a feud with Apple, chalking up the disagreements to a misunderstanding.That’s a rare bit of welcome news for Twitter’s business. The Times reported last week that the company had rapidly cut revenue projections, as U.S. ad sales continued to come in well below internal expectations. Advertisers have been alarmed by Mr. Musk’s pledges to lessen restrictions on user content, as well as a botched rollout of revamped verification badges that briefly let paying subscribers impersonate brands. Automakers like G.M. have also been concerned that Twitter could share their ad data with the Musk-owned Tesla, a key rival.Mr. Musk introduced a new bit of drama into Twitter over the weekend, when he touted the release of the so-called Twitter Files. The independent journalist Matt Taibbi — who famously called Goldman Sachs a “vampire squid” — published internal documents showing executives’ deliberations about how to handle dissemination of a New York Post story based on files from a laptop stolen from Hunter Biden.The move rankled some former Twitter executives, including the company’s former head of trust and safety, Yoel Roth, who said publicizing unredacted documents was “fundamentally unacceptable.” (Musk later conceded, “I think we should have excluded some email addresses.”)“It’s like a cake that was dropped on the table and it looks more or less fine, but inside it’s all blown up.” — Vladislav Inozemtsev, the Washington-based director of the Center for Post-Industrial Studies, a Russian research group, on the state of the Russian economy following sanctions and an exodus of Western firms.The week ahead Politics, inflation data and a trickle of earnings reports will be in focus this week. Here’s what to look for:Tomorrow: A key Senate seat is up for grabs in the Georgia runoff election. Early-voting tallies have smashed state records.Wednesday: New data on the health of the world’s two largest economies will be published, with U.S. consumer credit and China trade data scheduled for release.Thursday: Costco and Broadcom release quarterly results.Friday: The University of Michigan Consumer Sentiment Index and Producer Price Index data are set to come out. China will also release a fresh batch of inflation data.THE SPEED READ DealsOne of the Democratic commissioners at the F.T.C. reportedly favors a less-confrontational approach to Microsoft’s $69 billion takeover of Activision Blizzard, potentially undercutting efforts to block the deal. (New York Post)The private equity firm CVC is said to be weighing options, including a sale, of the computer accessories maker Razer, less than a year after buying the business. (Bloomberg)Assa Abloy will sell its Emtek and Yale security brands to Fortune Brands Home & Security for $800 million. (Reuters)PolicyMeta faces a trio of E.U. privacy fines that could exceed $2 billion, a record. (Politico)The European Commission’s president, Ursula von der Leyen, said that Europe needed to overhaul its public investment rules so its firms could better compete against American counterparts who receive Inflation Reduction Act funding. (FT)New Zealand plans to force Meta’s Facebook and Google to pay news publishers for the content hosted on their platforms, taking a cue from Australia and Canada. (WSJ)Best of the restIt’s not just Big Tech: Big media companies are cutting jobs, too. (WSJ)“Goblin mode,” an Elon Musk favorite, was named Oxford Languages’ 2022 word of the year. (NYT)Activision Blizzard game testers unanimously voted to form a union. (Reuters)“The 4-day week: does it actually work?” (FT)We’d like your feedback! Please email thoughts and suggestions to dealbook@nytimes.com. More