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Brazilian President Lula: Next week I will speak with leaders of France, Britain, Germany and the European Union.White House trade adviser Navarro: (Regarding Trumps threat to sue Powell) I will not get involved in this matter.On Tuesday, August 13th, U.S. Treasury Secretary Benson expressed optimism in an interview with Fox Business Channel that the Senate would confirm Stephen Milan, current Chairman of the Council of Economic Advisers, to the temporary vacancy on the Federal Reserve Board before the Feds September meeting. Bessant revealed that President Trump is conducting a wide-ranging search for candidates to fill the permanent vacancy on the Federal Reserve Board next January and is keeping a very open mind. He even revealed that the president has considered nominating former Federal Reserve Chair Janet Yellen. "This isnt an ideological issue; its about economics—whats best for the American people and whats best for the economy," Bessant emphasized.On August 13, the Wall Street Journal reported that Federal Reserve Chairman Barkin stated that there are numerous signs that low- and middle-income consumers are facing greater financial constraints than they were a few years ago, which could curb their spending and mitigate the inflationary impact of tariffs. "The theory that the cost of (tariffs) will inevitably be passed on, leading to a surge in inflation, will have to be tested by consumer reaction," he said. "I believe consumers will accept price increases on some essential goods, but will inevitably resist price increases in other areas by downsizing or delaying purchases." Regarding the inflation outlook, Barkin noted, "We will see some inflation, but it will be milder than expected because this is not 2022, when consumers had ample cash and a strong desire to spend. The reality in 2025 is that consumers are feeling the pinch and are therefore forced to be frugal."The API crude oil production in the United States in the week ending August 8 was 43,000 barrels per day, compared with 76,000 barrels per day in the previous week.

Desalination Plant in California Suffers Setback With Recommendation For Denial

Haiden Holmes

Apr 26, 2022 10:07

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The commission, which has the authority to reverse staff decisions but does so infrequently, is due to vote on the project on May 12.


Desalination, environmentalists argue, annihilates ocean life, consumes excessive amounts of money and energy, and will soon be rendered obsolete by water recycling.


Poseidon Water, the infrastructure subsidiary of Canada's Brookfield Asset Management, is proposing the desalination facility near Huntington Beach, just south of Los Angeles.


Poseidon has been attempting to secure approval for the project for more than two decades, spending an estimated $100 million in the process.


With the Western states of the United States suffering from a prolonged drought, officials appeared to be on the verge of approving the Huntington Beach facility. Last year, the business expressed sufficient confidence to discuss breaking ground on the $1.4 billion factory by the end of 2022.


Poseidon has operated a comparable facility in Carlsbad since 2015, although it was permitted locally prior to the state enacting regulations governing desalination plants.