Connect with us

World

Former VP Biden mulling another run for presidency

Published

on

Former Vice President Joe Biden is tiptoeing toward a potential presidential run in 2020, even broaching the possibility during a recent gathering of longtime foreign policy aides.

Huddled in his newly opened office steps from the U.S. Capitol, Biden began a planning meeting for his new diplomacy center by addressing the elephant in the room. He said he was keeping his 2020 options open, considering it a real possibility. He insisted he had made no decision, and didn’t need to yet, according to five people who either attended the meeting or were briefed on it by those who did.

Biden also expressed interest in bringing those in the room onto his team if he decides to launch a campaign. At the same time, he gave them an out: There would be no hard feelings if they decided they were content in their current roles outside of government, said the people, who demanded anonymity to discuss a private meeting.

The political world has long tried to game out Biden’s plans for 2020. After all, he came close to running last time only to see President Donald Trump pull off a victory that many Democrats openly suggest wouldn’t have happened had he, not Hillary Clinton, been their nominee. Several people came away from the meeting with the impression that if no strong Democratic candidate emerges in the next year or so, Biden would feel strongly compelled to run.

A presidential candidate twice before, Biden would be 78 on Inauguration Day if elected in 2020, a concerning prospect for some Democrats even though he’s only a few years older than Trump. One possibility that Biden’s longtime advisers have discussed privately is that he could announce his intention to serve only one term, clearing the path for his running mate to take over in 2024 and potentially setting up Democrats for a 12-year White House stretch.

Biden’s brief discussion about his 2020 deliberations came as he brought foreign policy staffers together to set the 2018 agenda for the newly opened Penn Biden Center for Diplomacy and Global Engagement — where many of them are now working, including Colin Kahl, his vice presidential national security adviser, and Steve Ricchetti, his former chief of staff. Eli Ratner, his former deputy national security adviser, and Mike Carpenter, the former Pentagon and State Department official who’s now the center’s senior director, also attended, as did Julianne Smith, a Biden adviser in the Obama administration’s first term who now works at the Center for a New American Security, a Washington think tank.

A Biden spokesman declined to comment. But in a recent NBC News interview, Biden said he’d decide on running in 2020 based on whether it was “the right thing to do.”

“I’m focused on one thing: electing a Democratic Congress to stop this erosion of the core of who we are,” Biden said. “I’ll look at that a year from now. I have plenty of time to consider whether or not to run.”

The meeting was one of several signs that Biden is beginning to position himself as an alternative to Trump. Biden has started denouncing the current president’s leadership more frequently in public, as he crisscrosses the United States and beyond to promote his new book, his cancer initiative, his new domestic policy institute in Delaware, the diplomacy center and his new political action committee, American Possibilities.

He’s also been gearing up to play a major role campaigning for Democrats seeking to retake the House and Senate in the 2018 midterms.

“Donald Trump’s looking out for Donald Trump. Republicans are looking out for Donald Trump. Who’s looking out for everyone else? Democrats,” Biden wrote in a recent fundraising pitch to the PAC’s supporters. He said in 2018, he would “beat a path all across this country to stand up for leaders who will stand up for all of us.”

In 2015, Biden’s face was plastered across cable news channels and newspaper front pages for months as he carried out a lengthy deliberation about whether to challenge Clinton for the nomination. Ultimately, he decided he and his family weren’t in position to run so soon after his son, former Delaware Attorney General Beau Biden, died from brain cancer earlier that year. Yet many Democrats have argued that his “everyman” brand and blue-collar appeal would make him particularly well-suited to challenge Trump.

Source link

World

Shell announces $9.5 billion sale of West Texas oil field assets to ConocoPhillips

Published

on

Separator tanks stand at the Royal Dutch Shell Plc processing facility in Loving, Texas, Aug. 24, 2018.

Callaghan O’Hare | Bloomberg | Getty Images

Oil giant Royal Dutch Shell on Monday announced a deal to sell the entirety of its Permian Basin assets to ConocoPhillips.

ConocoPhillips is purchasing the West Texas business for $9.5 billion in cash, according to a press release.

The assets span roughly 225,000 net acres with current production about 175,000 barrels per day, the press release said. The sale is set to close in the fourth quarter this year.

The deal would mark Shell’s complete withdrawal from onshore production in Texas. Shell will maintain its offshore production in Texas.

The move comes as the oil industry faces increasing pressure to invest in renewable energy and lower its carbon emissions in the face of a changing climate.

Enjoyed this article?
For exclusive stock picks, investment ideas and CNBC global livestream
Sign up for CNBC Pro
Start your free trial now

Source link

Continue Reading

World

Flights to Europe are about to rise as U.S. eases Covid travel restrictions

Published

on

Tourists look at the Bridge of Sighs in Venice, Italy, on Aug. 25, 2021.

Andrea Merola | Bloomberg | Getty Images

The window to find dirt-cheap fares to Europe is closing.

The Biden administration on Monday said the U.S. in November will start allowing vaccinated foreigners from 33 countries, including the U.K., China and EU nations, easing rules set early in the pandemic.

That’s great news for airlines that are desperate to drum up revenue after a historic lull in demand for routes that were among the most popular before the Covid-19 pandemic. Many EU countries have been welcoming U.S. tourists for months since vaccinations became widely available, but that was not reciprocated by the United States.

“In the past, as restrictions have been eased, there has been an increase in bookings for travel, and we expect a similar reaction here,” Conor Cunningham, executive director of MKM Partners, wrote in a research note to investors.

Bargain hunters eager to take advantage of the relatively cheap flights might be out of luck as demand for trans-Atlantic travel rises.

Round-trip flights to Europe, including the U.K., from the U.S. are going for about $565, a level not seen in its roughly five years of collecting data, said fare-tracking company Hopper.

Fares had dropped 15% from Aug. 30, after the European Union recommended that its member countries reinstate travel restrictions on the U.S. The advisory was non-binding, however, and U.S. travelers can still visit a host of countries if they meet requirements like proof of Covid-19 vaccination or a recent negative Covid test, if not a combination of both.

Adit Damodaran, Hopper’s economist, said he expects airfare to rise from Europe to the U.S. on the lifted travel restrictions and from the U.S. to Europe as more travelers realize the EU notice “was a soft advisory.”

Airlines didn’t immediately say whether they would add flights following the loosened U.S. travel rules, but carriers pounced with added service to destinations like Iceland, Croatia and Greece when those countries started allowing U.S. visitors in earlier this year.

Source link

Continue Reading

World

Democrats to put debt limit suspension in funding bill

Published

on

Speaker of the House Nancy Pelosi, D-Calif., conducts news conference in the Capitol Visitor Center with House Democrats on achievements including the For The People Act and the agenda for the remainder of the year, on Friday, July 30, 2021.

Tom Williams | CQ-Roll Call, Inc. | Getty Images

Democratic congressional leaders on Monday said they will try to pass a bill that both prevents a government shutdown and suspends the U.S. debt limit as they try to dodge two possible crises in one swoop.

Congress faces a Sept. 30 deadline to fund the federal government. Separately, Treasury Secretary Janet Yellen has told lawmakers that the U.S. will likely not be able to pay its bills sometime in October if Congress does not suspend or raise the debt ceiling.

The House plans to vote this week on legislation that addresses both issues. The bill would fund the government through December and suspend the debt ceiling through the end of 2022, House Speaker Nancy Pelosi, D-Calif., and Senate Majority Leader Chuck Schumer, D-N.Y., said in a joint statement.

CNBC Politics

Read more of CNBC’s politics coverage:

The bill’s fate is uncertain. Republicans have said they will not join Democrats in voting to suspend the debt ceiling, raising the prospect of a default that could devastate the global economy.

Pelosi and Schumer on Monday said the GOP has an obligation to address the debt limit because the party helped to pass sprawling coronavirus aid plans last year.

“Addressing the debt limit is about meeting obligations the government has already made, like the bipartisan emergency COVID relief legislation from December as well as vital payments to Social Security recipients and our veterans,” they said, adding that a default “could plunge the country into a recession.”

Democrats also noted that the funding bill will include relief money for a recent string of natural disasters — which could make it more appealing to GOP lawmakers who represent states hit by storms. Sen. John Kennedy, R-La., told NBC News he is inclined to back a funding bill that includes a debt ceiling suspension because it would include “critical” relief funding for his state, which was recently battered by Hurricane Ida.

Senate Minority Leader Mitch McConnell, R-Ky., has tried to force Democrats to suspend the debt ceiling as part of their up to $3.5 trillion bill to invest in the social safety net and climate policy. He did not back down from his position on Monday.

“They have every tool to address the debt limit on their own,” he said.

McConnell said his party would vote for a short-term government funding bill that does not include a debt limit suspension.

Subscribe to CNBC on YouTube.

Source link

Continue Reading

Trending