09-27-2022  5:12 pm   •   PDX and SEA Weather
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NORTHWEST NEWS

Black United Fund Launches Emerging Entrepreneur Program

Pilot program will support promising small business owner ready to take the next step.

After a Rocky Start Oregon Drug Decriminalization Eyes Progress

When voters passed the state's pioneering Drug Addiction Treatment andRecovery Act in 2020, the emphasis was on treatment as much as on decriminalizing possession of personal-use amounts of heroin, cocaine, methamphetamine and other drugs. But progress has been slow and Oregon still has among the highest addiction rates in the country yet over half of addiction treatment programs in the state don't have enough staffing and funding to help those who want help

Morgan State University Students Win Zillow’s HBCU Hackathon With App That Measures Financial Credibility Outside of Credit Scoring

Second-annual competition challenged participants to develop new technologies to help consumers during their journey to find a home.

Portland, Oregon, to Use Microphones to Track Gunshots

The decision to advance a pilot program with ShotSpotter was made after Wheeler met with Police Chief Chuck Lovell.

NEWS BRIEFS

Expiring Protections: 10-Day Notices of Nonpayment of Rent And "Safe Harbor" Protections

Effective October 1, a Landlord will be able to resume use of a 72-hour notice or 144-hour notice when issuing a termination notice...

11 Area Post Offices to Host Hiring Events

Over 100 Northwest USPS Hosting Job Fairs ...

Rep. Janelle Bynum Champions Oregon Business and Sets Sights on Strengthening Key Industries

Rep. Bynum invited leaders and experts to discuss ways the state can champion businesses of all sizes, expand broadband, bolster the...

PPS Renames Headquarters

The central office will be named after Matthew Prophet, Portland Public School's first Black Superintendent from 1982-1992,...

Affordable Housing Plan to Go Before Seattle Voters

If I-135 passes it would create a public development authority ...

Prototype electric airplane takes first flight

MOSES LAKE, Wash. (AP) — A prototype, all-electric airplane took its first flight Tuesday morning in central Washington state. The Seattle Times reports that if the Federal Aviation Administration eventually certifies the small airplane to carry passengers, it could become the first...

State trooper who was shot expected to recover, father says

WALLA WALLA, Wash. (AP) — A Washington state trooper who was shot and wounded in Walla Walla Thursday is expected to make a full recovery, according to the man's father. Trooper Dean Atkinson Jr.’s father, Dean Atkinson Sr., said Monday that there’s nothing that would prevent...

Auburn loses 2nd center, Tate Johnson, to injury

AUBURN, Ala. (AP) — Auburn has lost its second center of the season with Tate Johnson slated for surgery on his left elbow. Tigers coach Bryan Harsin said Monday that Johnson is scheduled for surgery on the elbow Thursday and is expected to miss 6-8 weeks but could be out for the...

LSU survives Daniels' injury scare in romp over New Mexico

BATON ROUGE, La. (AP) — The LSU defense held New Mexico to 88 total yards and the Tigers survived an injury scare to starting quarterback Jayden Daniels in a 38-0 victory Saturday night at Tiger Stadium. “Once is an accident, twice is a coincidence, three times is a habit,” LSU...

OPINION

No Room for Black Folk

A recent interview with Dr. Ebony Elizabeth Thomas and an associate professor, reveals the inability of certain white Americans to share the benefits of our society ...

The Cruelty of Exploiting Vulnerable People for Political Advantage

There is always a new low for Trump Republicans. And that is pretty frightening. ...

The Military to American Youth: You Belong to Me

The U.S. military needs more than just money in its annual budget. It needs access to America’s young people as well — their wallets, their bodies, and their minds. ...

Financial Fairness at Risk With Proposed TD Bank-First Horizon Merger

As banks grow larger through mergers and focus on growing online and mobile services, serious concerns emerge on how fair and how accessible banking will be to traditionally underserved Black and Latino communities. ...

AFRICAN AMERICANS IN THE NEWS

Expert questions whether school shooter's mom drank heavily

FORT LAUDERDALE, Fla. (AP) — Prosecutors in the penalty trial of Florida school shooter Nikolas Cruz began their rebuttal of the defense case Tuesday by questioning whether his birth mother drank as heavily during pregnancy as some witnesses portrayed. They also showed his sometimes...

NAACP says Jackson's water problems are civil rights issue

JACKSON, Miss. (AP) — In a federal complaint Tuesday, the NAACP said Mississippi officials “all but assured” a drinking water calamity in Jackson by depriving the state’s majority-Black capital city of badly needed funds to upgrade its infrastructure. The organization asked the...

Federal court finds 3rd Iowa ag-gag law unconstitutional

DES MOINES, Iowa (AP) — A federal judge has struck down the third attempt by the Iowa Legislature to stop animal welfare groups from secretly filming livestock abuse, finding once again that the law passed last year violates free speech rights in the U.S. Constitution. The decision...

ENTERTAINMENT

A doc from the Disney family takes aim at the Mouse House

NEW YORK (AP) — Abigail E. Disney has been critical of the company that bears her name before. But for the first time, Disney, the granddaughter of co-founder Roy O. Disney, has put her views into the medium the Mouse House was built on: a movie. In the new documentary “The...

Procedural dramas jump to front in TV's opening week

NEW YORK (AP) — Besides live sports, the one thing broadcast networks can be counted on for these days is franchise procedural dramas. That was evident on opening week of a new television season, when the 10 most-watched scripted programs all fit this tried-and-true formula,...

TV hit ‘Peaky Blinders’ expands story through dance show

LONDON (AP) — Steven Knight looks astounded, almost lost for words. He’s just watched contemporary dance company Rambert run through scenes from the first act of their “Peaky Blinders” production, based on the hit TV show that he wrote and created. Watching the immediate...

U.S. & WORLD NEWS

US stocks end mixed a day after Dow entered a bear market

A wobbly day of trading on Wall Street ended with a mixed finish for U.S. stock indexes Tuesday as markets stagger...

Funds to aid Jackson's water system held up as governor rose

JACKSON, Miss. (AP) — Years before people in Jackson were recently left without running water for several days,...

UN General Assembly meeting of world leaders, by the numbers

UNITED NATIONS (AP) — The barricades are down, the world leaders have left and New Yorkers are complaining...

Live Updates: Russia-Ukraine War

KYIV, Ukraine — Pro-Moscow officials say residents in one of the four occupied areas of Ukraine voted to join...

Abe's militaristic funeral captures Japan's tense mood

TOKYO (AP) — The leadup to former Japanese Prime Minister Shinzo Abe's controversial state funeral could seem...

Japanese former leader Abe honored at divisive state funeral

TOKYO (AP) — Japan's assassinated hawkish former leader, Shinzo Abe, was given a rare state funeral Tuesday full...

Steve Hargreaves CNN Money

NEW YORK (CNNMoney) -- Oil production in Iraq surpassed that of its regional rival Iran last month, highlighting the impact of continued investment in Iraq and Western sanctions on Iran.

Iraqi oil production inched over the 3 million barrel a day mark in July, according to numbers released Friday by the International Energy Agency. That's 300,000 barrels per day higher than the country's average output in 2011.

IEA said much of July's increase was due to the opening of a new offshore tanker-loading facility in the Persian Gulf.

Oil production in the country has been slowly but steadily climbing since the end of the war as the Iraqi government and partners such as Exxon Mobil, BP, Chevron and Total work to repair existing fields and hunt for new sources.

With oil prices around $90 per barrel, Iraq's production rate translates into roughly $100 billion a year in revenue. The vast majority of this goes to the Iraqi government. Most of the foreign oil companies in Iraq work on a contract basis, or else pay a high royalty rate.

Iraq has lofty plans to one day produce 11 million barrels a day -- nearly equal to Russia's current output and a million barrels a day more than Saudi Arabia's production.

But with the security situation still dicey -- there were two pipeline attacks in the last month alone -- and a lack of an oil law stipulating just how the oil wealth will be divided up among the Iraqi people, companies are wary of investing too much in the country, and development remains slow. Realistically, analysts say, in the next ten years Iraq is more likely to increase production to 6 or 7 million barrels a day.

"We don't see Iraqi production increasing at a fast rate anytime before 2014," said Patrick Gibson, an oil supply analyst at the energy consultants Wood Mackenzie.

Iran: In Iran, oil production has taken a serious hit as a result of sanctions imposed by the United States, The United Kingdom and the European Union over Iran's nuclear program. The sanctions prohibit the import of Iranian oil to the West and limit the amount that Asian countries, the principle buyers or Iranian crude, can import without being restricted from Western markets.

As a result, Iran's oil production dropped to 2.9 million barrels day in July from 3.6 million barrels per day in the last quarter of 2011, according to the IEA report.

The question around Iran's production is how fast it can come back when and if the sanctions are lifted.

Gibson said that, because of the complex legal structure around sanctions, it can take a long time for countries to resume imports even once the sanctions are lifted. Plus, there's the possibility that shutting in Iran's oil will damage the oil fields, leaving them less productive.

Both of these may be moot points for the time being however, as Iran show's no signs of curtailing its nuclear program, which it says is for peaceful purposed but many suspect is intended to produce a bomb.

 

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