Notable News Items - Tuesday, April 21st, 2020

The following is a list of the day's principle noteworthy news items complied by The Rat:

Oil Falls Into Negative Territory For First Time In History

Oil plummeted to -$37.63 overnight, representing the first time in history that the commodity has ever been priced in negative territory. The unusual pricing comes as a result of oil futures contracts expiring at the end of April, which compel traders who hold the contracts for speculative purposes to take delivery of the fuel and pay associated storage costs. As a result of a two-month shut-down of the global economy, stockpiles of oil are already starting to build up, putting pressure on storage capacity and reducing the immediate demand for crude. As a result, traders are paying buyers who have additional storage capacity to take delivery of their speculative oil futures contracts so they are not compelled to take delivery of the oil and source storage locations themselves.

 

Rebel Entrepreneur Appeals For British State Help

Richard Branson warns Virgin Atlantic will go bust without $600 billion bailout after the company was refused a bailout by the British Treasury. In addition, he said that Virgin Australia was also likely to face collapse. The entrepreneur claimed in an emotional letter that the company was flying in much-needed medical supplies to tackle the COVID-19 crisis, and that his companies had given over $80 million in financial aid to the National Health Service (NHS) over the years. He added that he lived on Necker Island tax-free “because I love the BVI’s [British Virgin Islands Territories]”.

 

Mainstream Media Blows COVID19 Coverage With False Facts

Story 1: In today’s Coronavirus Task Force Press Briefing President Trump pointed out that the main stream media had blown the COVID-19 pandemic, stating that every American who needed a ventilator had now received one (see below). “Someday they’ll be able to write the true story, because nobody's seen anything like it. The fake news just refuses to cover it correctly, but that's OK. The people are understanding and that’s what matters to me,” the U.S. President added. Commenting on the lower oil price, the President noted that the United States was now stocking up its reserve supplies of crude, noting the country was now getting the fuel at “the right price.”

 

Story 2: Media blew the ventilator shortage, writes Kyle Smith at RealClearPolitics. The United States government has so many ventilators that it will soon begin to export them to countries such as Mexico and Italy, the President said at a press briefing Monday.  

 

North Korean President Kim Jong-Un Ailing, Reports Claim

Kim Jong-Un, the President of North Korea, is alleged to be in ill-health following a cardiovascular procedure as a result of obesity, smoking and overworking. The U.S. intelligence is monitoring the story, which so far neighboring South Korea has refused to confirm. Meanwhile, Kim’s sister Kim Jo-Yong, who recently praised the US President for his leadership, is gaining favor and popularity both at home and abroad.

 

U.S. Data Carriers Face Lawsuits Over Schiff’s Secret Subpoenas

Adam Schiff obtained over 4,000 phone records of private individuals close to the President via secret court subpoena in his failed impeachment attempt, it has emerged. The individuals are mulling a lawsuit against the phone carriers that turned over their records, which they claim violates their right to data protection.

 

Borris Johnson Told To Scrap Brexit By Senior Conservatives

Senior U.K. conservative politicians have told ailing and embattled Prime Minister Borris Johnson to tear up the $45 billion Brexit plan if he cannot close the deal with Europe by the end of 2020. The plans costs are too high, coming on top of another quarter trillion pound bailout the government has just approved, they say. Abandoning the Brexit plans will substantially weaken the new Prime Minister, who’s central policy objective in last year’s general elections was to “get Brexit done no matter what”.

 


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