A Celebration of the Orlando Poet Laureate, April 9, 2022
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Monthly Archives: April 2022
Exxon signals record quarterly profit from oil and gas prices
Exxon Mobil Corp on Monday said its first-quarter results could top a seven-year quarterly record, with operating profits from pumping oil and gas alone of up to $9.3 billion.
A snapshot of the largest U.S. oil company’s quarter ended March 31 showed operating profits from oil and gas, its biggest unit, could jump by as much as $2.7 billion over the prior quarter’s $6.6 billion.
Exxon does not hedge, or lock in oil sales, and results generally match changes in energy prices. Russia’s invasion of Ukraine pushed up oil by 45% last quarter over the final period of 2021, to an average of $114 per barrel, the highest in seven years.
The estimates suggest total earnings for the quarter of about $9.8 billion at the mid-point of Exxon’s estimates, according to Scotiabank global equity research.
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No Bake Pizza Sauce
One 15-ounce can whole plum tomatoes
One 15-ounce can crushed tomatoes
1/2 cup basil leaves, torn
1/2 cup extra-virgin olive oil
1/2 TB Calabrian chile paste
1 tsp flaky sea salt, such as Maldon
1 tsp sugar
4 cloves garlic, roughly chopped
The Party is Over – Refi Applications Plunge to Two-Year Low as Rates Surge
Even for a week containing a holiday, last week was a bad one. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, fell 7.1 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 6 percent compared to the previous week. The week ended January 21 started with the observance of Martin Luther King’s birthday although MBA did not indicate it adjusted its data to account for it.
The Refinance Index decreased 13 percent from the previous week and was 53 percent lower than the same week one year ago. The refinance share of mortgage activity declined to 55.8 percent of total applications from 60.3 percent the previous week, the lowest for refinancing since Christmas week 2019.
House passes landmark marijuana legalization bill
The House passed legislation Friday that would legalize marijuana nationwide, eliminating criminal penalties for anyone who manufactures, distributes or possesses the substance.
Lawmakers approved the measure in a 220-204 vote.
The legislation, dubbed the Marijuana Opportunity Reinvestment and Expungement Act, passed in the House last year, but did not move forward in the Senate. In addition to decriminalizing marijuana at the federal level, the bill would establish procedures for expunging previous convictions from people’s records and impose a tax on the sale of cannabis products.