Iran, Get Ready for the Battle Rial

Iran, Get Ready for the Battle Rial

Secretary of State Mike Pompeo on Monday presented the Islamic Republic of Iran with a stark choice: Either change or face “unprecedented financial pressure” in the form of “the strongest sanctions in history when we are complete.” The Trump administration has declared financial war on the Iranian regime. Given the seriousness of its currency emergency, it’s a good bet America will win.

Iran’s economy is in crisis. Inflation is skyrocketing, banks are in turmoil, and Iranians protest daily against the regime’s ineptitude,…

Liverpool ready to fly out of the blocks in Kiev – Henderson

Liverpool ready to fly out of the blocks in Kiev – Henderson

Captain Jordan Henderson believes Liverpool will benefit from taking the long route to the Champions League final and says his team are ready to “fly out of the blocks” against Real Madrid.

Jurgen Klopp’s side had to come through a qualifying play-off against Hoffenheim to take their place in the group stages, while a win over Brighton and Hove Albion on the final day of the Premier League season secured their involvement in the Champions League again.

But, instead of feeling jaded at the end of a long campaign in which the Reds have had plenty to play for from start to finish, Henderson feels the experience will be beneficial in Kiev.

“From qualifying against Hoffenheim and through the group stage, we’ve gone the long way,” he said. “But I think we can learn from that and it will help us come Saturday.

“It’s been good. We prepared well for the Brighton game. We knew we needed to win to qualify for the Champions League and I think we did that superbly well, controlled the game from start to finish.

“It was a good game for us leading into the final and we’ve had a good preparation. We’re ready to go and hopefully on Saturday we come flying out of the blocks.”

Asked whether the club’s proud history in the competition – Liverpool have been crowned European champions on five occasions – had encouraged him to dream of joining those former greats, Henderson added: “You dream about it as a kid and all through your career, how hard you work just to get to this point.

“It is a big moment. But you’ve got to focus on the game and what you’ve got to do on the pitch, that’s the most important thing. Then the result will take care of itself.”

‘Ready and prepared to turn off the taps’: Notley issues stark warning to B.C. as pipeline fight escalates

‘Ready and prepared to turn off the taps’: Notley issues stark warning to B.C. as pipeline fight escalates

CALGARY – Alberta Premier Rachel Notley threatened to cut off oil shipments to British Columbia “very quickly” on Wednesday, as her government passed its controversial new law that grants the government sweeping new powers over oil and gas shipments.

Notley said she would use the law, first introduced last month and passed Wednesday, if construction does not begin on Kinder Morgan Canada’s $7.4-billion Trans Mountain pipeline expansion soon.

“Albertans, British Columbians and the rest of Canada should understand that if the path forward for the pipeline through B.C. is not settled soon, I am ready and prepared to turn off the taps,” Notley said Wednesday.

The comments are the most direct threat Notley has made regarding the province’s new powers to cut off all oil shipments to B.C. for that province’s opposition to the pipeline.

The law is necessary as all export pipelines leaving Alberta are full and that has resulted in Canadian oil being heavily discounted relative to U.S. and global oil benchmarks, the Alberta Premier said. “Alberta has the right to act in the public interest to reduce the cost to the treasury.”

Canadian heavy oil traded at a discount of $19.19 per barrel on average Tuesday, according to GMP FirstEnergy. Scotiabank estimates that the Canadian economy would lose $15.6 billion this year if heavy oil prices were discounted by US$24 per barrel, and called the situation a “self-inflicted wound” in a report in February.

Notley cited that economic impact when she indicated Wednesday that a move to cut off all shipments to B.C. could be imminent.

“I’m not going to map out our specific schedule on this. It could happen very quickly. It could happen in 24 hours. It could happen over a longer period of time,” Notley said in response to questions about the timing of an oil flow restriction.

If Alberta does turn off the taps soon, the result would be an immediate increase of 30 to 45 cents per litre in Vancouver, GasBuddy senior analyst Dan McTeague said. The current average wholesale price of gasoline in the Vancouver area is $1.56 per litre, he said.

The additional costs would bring the cost to fill up a typical 60-litre-tank car in the area up to $120.

“The numbers clearly show that the market is extremely sensitive to these kinds of disruptions,” McTeague said, noting the existing Trans Mountain pipeline and refineries in Edmonton currently supply most of the oil used in Vancouver and in cities like Kamloops and Kelowna.

When the Parkland Fuel Corp. refinery in Burnaby, which is connected to the existing Trans Mountain pipeline, was under maintenance earlier this year, McTeague said, “Vancouver was importing 900,000 litres of gasoline a month.”

B.C. Premier John Horgan did not respond to a request for comment Wednesday on Notley’s plans to turn off the taps, but issued a press release in response to Finance Minister Bill Morneau’s announcement earlier Wednesday that it would indemnify Kinder Morgan for any additional costs relating to the B.C. government’s opposition to the project.

“The federal finance minister is trying to use our government as an excuse, as the federal government puts taxpayer money on the line to backstop risks to private investors, while completely ignoring the risks to B.C.,” Horgan said.

“The fact is, we’ve been issuing permits in a fair and timely manner, and have proposed new regulations that are now referred to court to confirm our jurisdiction,” he said.

Environmental groups sided with the B.C. government, noting that political leaders were grasping at straws in willingness to bail out pipeline company.

“It’s fiscally irresponsible and ignores the growing protests to the project and the federal government’s own promises on Indigenous reconciliation,” Tzeporah Berman, campaigns and communications director, Stand.earth said in a statement.

Business groups in B.C. blasted Horgan for his opposition to the pipeline and said they are preparing for costs to escalate as trucking companies implement fuel surcharges.

“I think Premier Notley is acting out of frustration and desperation and she’s taking the only path that seems to be available to her,” said Chris Gardner, president of the Independent Contractors and Businesses Association of British Columbia.

He believes Horgan is responsible for the situation, calling the premier’s actions toward Kinder Morgan “irresponsible” and “reckless.”

At this point, however, he said his member companies have not been stocking up on gasoline and diesel ahead of a potential restriction from Alberta.

“I don’t think anyone is, at this point, making those kinds of preparations. Given that we seem to be at an impasse, I think it’s going to become an issue that’s going to be top of mind at businesses in remote communities,” Gardner said.

• Email: gmorgan@nationalpost.com | Twitter:

Inter ready €180m Icardi clause

Inter ready €180m Icardi clause

Inter are ready to offer Mauro Icardi a new contract worth €8m per year with a release clause set at €180m, it’s reported.

The Nerazzurri are eager to lock down their star centre-forward and captain after interest from the likes of Real Madrid, Bayern Munich, Chelsea and Manchester United.

According to FCInterNews, the proposal being lined up would run to 2023 and earn him €8m per year in wages.

The release clause would also be increased from €120m to €180m.

If Inter again miss out on the Champions League, then Icardi’s future would be in doubt for both his own ambitions and for their Financial Fair Play situation.

See the latest Serie A predictions and betting tips with Eurotips.co.uk

Ottawa ready to cover losses if Trans Mountain pipeline delayed because of politics

Ottawa ready to cover losses if Trans Mountain pipeline delayed because of politics

OTTAWA — The Canadian government is prepared to indemnify Kinder Morgan Canada Ltd’s proposed Trans Mountain pipeline expansion against unnecessary delays that are politically motivated, Finance Minister Bill Morneau said on Wednesday.

Morneau also told a news conference that if Kinder Morgan decided to walk away from the project, which the provincial government of British Columbia opposes, the indemnification would stay in place in case another company took over.

 

© Thomson Reuters 2018