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Artificial intelligence (AI) stocks have become popular, almost fashionable. AI is a new frontier, an emerging technology offering unique opportunities and risks — but is it a smart investment?

Why invest in AI?

AI has the capacity to revolutionize industries, drive economic growth, impact global challenges, and unlock scalable efficiency. These present opportunities to make a fortune if you buy the right stocks early. But some of the best stocks may not be the popular names.

True, many AI stocks are not common names; the AI space requires in-depth knowledge that many investors may still need to gain. So what if you’re unwilling to go the individual stock route? Well, investing in an AI exchange-traded fund (ETF) is the simple answer.

Comparing Top AI ETFs Using StockCharts Tools

Consider these four funds:

Global X Robotics & Artificial Intelligence ETF (BOTZ);ROBO Global Robotics & Automation ETF (ROBO);iShares Robotics and Artificial Intelligence Multisector ETF (IRBO); andARK Autonomous Tech & Robotics ETF (ARKQ)

You can pull up the PerfCharts tool and look at their three-month performance to get an overarching view of the ETF’s performance.

StockCharts Tip: You can access the PerfCharts tool by following this path: Charts & Tools > PerfCharts > enter ETF symbols in the input box separated by commas > Go.

CHART 1: ANALYZING PERFORMANCE OF THE FOUR ETFS. BOTZ is the clear outperformer with ARKQ surging to occupy second place in late May.Chart source: StockCharts.com. For illustrative purposes only.

On a quarterly basis, BOTZ is the clear leader by far, with ARKQ surging ahead to take the second-runner-up spot. Before delving deeper into this, let’s look at the ETFs comparatively against the S&P 500 index as a benchmark.

The Relative Rotation Graph (RRG) is a great tool for this. Here’s how to view the three-month rotation.

From Charts & Tools, select Launch RRG Charts.Enter BOTZ, ROBO, IRBO, ARKQ in the symbol box.Select the 3-month rotation graph and Daily from the dropdown menus (to view daily nodes).

CHART 2: RELATIVE ROTATION GRAPH OF THE FOUR ETFS. BOTZ is moving toward a position of weakness, whereas ARKQ appears to be strengthening. Chart source: StockCharts.com. For illustrative purposes only.

This gives you a more nuanced perspective on the PerfCharts reading. Whereas BOTZ is the clear leader based on performance, it’s receding toward a position of weakness when compared to the S&P 500. ARKQ, the second runner up, appears to be the only ETF sustaining upward momentum in the RRG’s “Leading” space.

Now, let’s look at the technicals for each ETF.

Three Hanging Men and a Runaway Gap

BOTZ: Hanging Man

BOTZ owns shares in 43 global companies that will likely profit as robots and artificial intelligence use increases. Most companies are in the Technology, Industrial, and Health Care sectors. While over 40% of the companies are based in the United States, there are also quite a few from Japan and Switzerland.

StockCharts Tip: For a deeper dive into these funds, enter the ETF symbol in the Symbol Summary, which you can find in Summary Pages under Charts & Tools.

While hanging man patterns are traditionally looked at as bearish reversal patterns, some analysts would argue that almost half of all occurrences serve as bullish continuation patterns (according to Thomas Bulkowski’s Encyclopedia of Chart Patterns).

BOTZ’s hanging man, however, looks like it’s due for a pullback. As price surges upward, leading to the current hanging man candle, the RSI and Stochastic Oscillator remain flat in “overbought” territory while the Chaikin Money Flow (CMF) gives clear divergence reading, indicating that buying pressure has been receding (confirming the bearish indication of the hanging man candle, however small or large the pullback may be).

CHART 3: HANGING MAN IN BOTZ. The appearance of a hanging pattern indicates this ETF could be due for a pullback. The RSI and Stochastic Oscillator are in overbought territory, whereas the Chaikin Money Flow is showing that buying pressure is reducing.Chart source: StockCharts.com (click on chart for live version). For illustrative purposes only.

The $25.00 range marks a general area in which multiple support levels (or indications) converge, First, $25 sees plenty of resistance turned support, as it also marks a level of heavy trading over the last six months (see the Volume by Price bar). Surrounding that level, you have a rising 50-day and 200-day simple moving average (SMA) further supported by a green Ichimoku cloud range. If you’re looking to go long on BOTZ, it’s probably a good idea to wait for the ETF to pull back before pulling the trigger.

ROBO: Another Hanging Man

ROBO has shares in 80 companies that are pushing the boundaries in robotics and artificial intelligence. The biggest company in this fund, Harmonic Drive Systems, makes up less than 2.5% of the total investments. Other key companies in the fund are IPG Photonics, Kardex Holding, Zebra Technologies, and ServiceNow.

Similar to BOTZ, it’s another hanging man but this one looks slightly different.

CHART 4: ROBO LOOKING TOPPY. The divergence between price and CMF and the $54.24 support level are two factors to keep an eye on.Chart source: StockCharts.com (click on chart for live version). For illustrative purposes only.

Notice how the CMF has shown a divergence since February (read that against the PerfCharts and RRG readings above). The volume itself is looking dangerously thin. Note the $54.25 support area where Volume by Price, the Ichimoku cloud, and the 50-day SME converge to provide support.

IRBO: The Third Man Hanging

This ETF owns shares in 118 different companies, making it the most diversified among the group. About half of these companies are in the US, but a good number of them are also in China and Japan. No single company represents more than 2% of the total investment. Some of the main companies in this fund are Spotify (SPOT), Meta Platforms (META), and Baidu (BIDU).

CHART 5: CLEAR SUPPORT LEVEL FOR IRBO. The price could pullback to anywhere between $25.50 and $30.50.Chart source: StockCharts.com (click chart for live version). For illustrative purposes only.

Similar to ROBO, IRBO’s CMF divergence has also been pronounced since February. While $30.00 to $30.50 is an area of near-term support, the $29.50 level, which shows historical market-based support, gives a critical level. The next lower-string level of support might be at $25.50.

ARKQ: Runaway Gap

Cathie Wood’s fund, ARKQ, puts money into 30 to 50 companies developing self-driving transportation, robots and automation, 3D printing, storing energy, and exploring space. 90%, or nearly all of the companies, are in the US. The fund’s biggest investment is in Tesla (TSLA).

CHART 6: ARKQ’S BREAKAWAY GAP. The ETF could pull back to the $47 to $51 range.Chart source: StockCharts.com (click chart for live version). For illustrative purposes only.

Similar to the previous three examples, ARKQ is also in overbought territory, yet it does have a few differentiating features. First, the current candle looks like it’s developing into a runaway gap (as opposed to the previous three’s hanging man). Note that the current gap also follows a breakaway gap with strong volume that took place the previous week.

If price pulls back, there’s likely to be a strong range of support from the $47-to-$51 range. If you recall the RRG illustration, ARKQ is the only ETF among the group that’s indicating a turn toward strength.

The Bottom Line

All four AI ETFs appear to be due for a pullback, as all are giving us an overbought reading. You could wait for the pullback before deciding to open long positions. It all depends on the price action, especially at the support levels for these ETFs. Although the AI ETFs look overbought, it may be worth creating an AI ChartList that includes ETFs and individual AI-related stocks. And when you see clear entry signals, set your alerts. AI-related investments tend to move fast.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Chocolate lovers are in for a bitter pill to swallow — prices of their favorite food are set to rise further on the back of elevated cocoa costs.

Chocolate prices have risen by 14% in the past year, data from consumer intelligence database NielsenIQ showed. And according to some market watchers, they are about to rise further due to strained supplies of cocoa, which is a significant component of the much-loved foodstuff. 

“The cocoa market has experienced a remarkable surge in prices … This season marks the second consecutive deficit, with cocoa ending stocks expected to dwindle to unusually low levels,” S&P Global Commodity Insights’ Principal Research Analyst Sergey Chetvertakov told CNBC in an email.

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Prices of cocoa on Friday surged to $3,160 per metric ton — the highest since May 5, 2016. The commodity was last trading at $3,171 per metric ton.

Chetvertakov added that the arrival of the El Niño weather phenomenon is forecast to bring lower than average rainfall and powerful Harmattan winds to West Africa where cocoa is largely grown. Côte d’Ivoire and Ghana account for more than 60% of the world’s cocoa production. 

El Niño is a weather phenomenon that typically brings hotter and drier than usual conditions to the central and eastern tropical Pacific Ocean.

Chetvertakov foresees that the cocoa market could be dented by another deficit in the subsequent season, which runs from October to September next year. And that means cocoa futures could surge further to as high as $3,600 per metric ton, according to his estimates. 

“I believe that consumers should brace themselves for the likelihood of higher chocolate prices,” he said, as chocolate producers are compelled to pass on higher production costs to consumers as they continue to be squeezed by rising raw material costs, surging energy expenses and elevated interest rates.

A large part of what goes into the making of a chocolate bar is cocoa butter, which has also seen a 20.5% increase in prices year-to-date, according to food commodity price database Mintec.

Spike in sugar and cocoa butter prices

“As chocolate is made up primarily of cocoa butter, with some cocoa liquor included in dark or milk, the price of butter is the most direct reflection of how chocolate prices would move,” said Mintec’s Director of Commodity Insights Andrew Moriarty.

He added that cocoa consumption is “near record highs in Europe.” The region is the world’s largest importer of the commodity.

Sugar, another principal ingredient of chocolate, is also seeing price spikes — breaching an 11-year high in April.

“Sugar futures continue to find support from ongoing supply concerns in India, Thailand, Mainland China and the European Union, where drought conditions have hit crops,” a report by Fitch Solutions’ research unit, BMI, dated May 18 said.

And as such, lofty chocolate prices are not expected to taper off anytime soon.

“Continued strong demand tied to whatever economic indicators one chooses to look at could keep prices high for the foreseeable future,” said Barchart’s Senior Market Analyst Darin Newsom.

“Only if demand starts to back down, something I don’t think has occurred yet, will prices of chocolate start to back off,” he said.

Among the different varieties of chocolate, prices of dark will reportedly be the hardest hit. Dark chocolate comprises of more cocoa solids compared to its white and milk chocolate counterparts, containing about 50% to 90% cocoa solids, cocoa butter, and sugar. 

“As a result, the most heavily impacted chocolate price will be dark, which is driven nearly entirely by cocoa ingredient prices,” said Mintec’s Moriarty.

This post appeared first on NBC NEWS

With a strike authorization vote already underway, union leaders at UPS announced a tentative deal to add air conditioning to the package carrier’s iconic brown delivery vehicles for the first time ever.

“The Teamsters and UPS agreed to tentative language to equip the delivery and logistics company’s fleet of vehicles with air conditioning systems, new heat shields, and additional fans,” the union said in a statement late Tuesday.

UPS confirmed it reached an agreement on heat safety with the Teamsters, saying in a statement that the tentative language “includes new measures that build on important actions rolled out to UPS employees in the spring, including new cooling gear and enhanced training.”

The announcement follows years of complaints by labor leaders — at UPS and other major retail and logistics companies — that working during hot weather can become unbearable and even dangerous.

More than 100 UPS workers have been hospitalized for heat illnesses in recent years, with some falling so ill that they neared kidney failure, NBC News has reported. But the nation’s largest package carrier has long resisted calls to air condition its fleet as summertime temperatures have climbed to record heights across the country.

The tentative agreement would require in-cab air conditioning in most UPS delivery vehicles purchased after Jan. 1, 2024, the Teamsters said in the announcement. Two fans would also be installed in package cars, which the union said make up most of the company’s 93,000-vehicle fleet.

Newer vehicles would also be equipped with exhaust heat shields, and existing and newly purchased package cars would be fitted with air induction vents “to alleviate extreme temperatures in the back of the vehicles” where cargo is held, the union said.

UPS workers say the backs of trucks, which they must go into and out of to retrieve packages, can sometimes feel like saunas. Federal Occupational Safety and Health Administration inspectors have documented heat indexes of 126, and temperature readings taken by workers in their trucks in Arizona and Florida and provided to NBC News show temperatures above 150 degrees.

News of the tentative heat safety deal could lower the likelihood of a nationwide strike that workers have threatened to trigger, as negotiations over a new five-year contract covering some 340,000 UPS employees barrel toward a July 31 deadline.

Unionized workers have been voting since last week on whether to authorize a strike, with results set to be announced Friday. The vote, which wouldn’t automatically trigger a work stoppage if approved, is a common bargaining tactic that aims to boost the union’s leverage.

Still, a vote in favor would move UPS workers one step closer to a potential nationwide work stoppage — which could be called as soon as Aug 1., the day after the current contract expires — that experts say could deal a fresh blow to the U.S. economy even as inflation cools.

Logistics experts have warned that a protracted strike would likely disrupt more deliveries than top rivals such as FedEx or the United States Postal Service could absorb, potentially upending the back-to-school shopping season.

“Even one day of strike by UPS would have a significant impact on delivering those orders,” said Jess Dankert, vice president for supply chain at the Retail Industry Leaders Association, a trade group representing major brands such as Walmart and Target.

If UPS and Teamsters leaders can’t reach a contract agreement in time and workers opt to walk off the job, it would be the largest single-employer strike in U.S. history. The last UPS strike, which lasted 15 days in 1997 and centered on securing better wages and job security, cost the company $600 million in revenue but resulted in employee gains on both measures.

The rise of e-commerce, accelerated by the pandemic, has reshaped UPS workers’ demands this time around. They’re now sorting and delivering millions more packages — 6.2 billion globally in 2022, up from 5.5 billion in 2019 — and say UPS could use the $13 billion it generated in profits last year to improve pay and working conditions, particularly around heat safety.

As recently as Monday, the union was publicly hammering UPS on the issue, with the Teamsters urging its Twitter followers to “EXPOSE UPS INACTION ON HEAT SAFETY.” Union President Sean O’Brien, who was elected in part for his willingness to call for a strike, retweeted the message.

UPS is far from the only major logistics operator to face scrutiny around heat-related risks to its employees. And while UPS is unusual in its industry for maintaining a large unionized workforce, any new concessions by the package carrier could ramp up pressure on rivals to follow suit.

Workers and labor advocates have also called on Amazon and FedEx to improve conditions in their vehicles and facilities after incidents that drew attention to the issue. Last summer, Amazon upgraded the air conditioning system in a New Jersey warehouse weeks after a worker collapsed on site during a heat wave and later died, NBC News reported. The company attributed the death to a “personal medical condition” at the time.

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Democratic legislative candidates in Virginia have a fundraising edge due in part to donations from a George Soros-linked political action committee and having more nomination contests than their Republican counterparts, a nonprofit found.

The fundraising lead comes as the historically-red state, which has leaned blue in recent years, just elected a Republican governor for the first time since 2009 and the state’s political parties see new opportunities to win additional seats in the legislature.

Candidates for the Virginia Senate and for the House of Delegates collectively raised more than $20 million from April 1 to June 8, with Democratic candidates bringing in about $14 million, according to the Virginia Public Access Project, a nonpartisan tracker of money in politics.

Virginia’s primary election is next week, Tuesday, June 20, 2023.

Some of the other biggest fundraising totals came from northern Virginia, where a political action committee funded by liberal donor George Soros has shelled out major money for prosecutor races.

The races include backing incumbents in Arlington, Fairfax and Loudoun counties — many of whom won four years ago with a focus on criminal justice reform agendas — who are seeking reelection.

Arlington Commonwealth’s Attorney Parisa Dehghani-Tafti has raised $437,775, most of which coming from the Soros-linked Justice and Public Safety PAC.

Fairfax County Commonwealth’s Attorney Steve Descano has raised $208,468, including a contribution from the Soros-linked PAC.

Loudoun County Commonwealth’s Attorney Buta Biberaj raised $163,838, although she did not receive money from Soros.

Democrats also led fundraising efforts in the state’s legislature.

Democratic legislative candidates ended it with more cash on hand, according to the nonprofit group’s analysis of campaign finance disclosures, as they had about a collective $2 million advantage in the Senate and a cash advantage of about $400,000 for House races.

All the 10 largest legislative fundraisers were Democratic candidates, the nonprofit found.

Democrats have more than twice as many Senate nomination contests to be settled next week than the Republicans, also contributing to the discrepancy.

Monday’s reporting did not include fundraising hauls for committees like Gov. Glenn Youngkin’s Spirit of Virginia, only candidates seeking an office that’s on the ballot on Election Day in November.

The fundraising haul is not entirely good news for the state’s Democrats as it shows some political in-fighting as lucrative candidates are attempting to oust seasoned incumbents.

Virginia’s campaign finance law allows unlimited contributions, including those from individuals, corporations and special interest groups.

The Associated Press contributed to this report.

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U.S. companies that give China artificial intelligence-driven technology to violate the human rights of its citizens need to be punished by Congress with prison terms for U.S. executives, a witness told senators in a hearing Tuesday.

Geoffrey Cain, senior fellow at the Foundation for American Innovation, warned at a Senate Judiciary subcommittee hearing that AI is helping to power China’s growing ‘surveillance state’ and said U.S. companies have contributed to this human rights problem.

‘China built its AI surveillance apparatus with the connivance and complacency of major American technology firms,’ Cain said in his prepared remarks. ‘The science corporation ThermoFisher, for example, was caught selling DNA collection equipment directly to Xinjiang police authorities, who used them for mass gathering of genetic data on the minority Uyghur population.

‘Since the late 1990s, Microsoft has established itself as the training ground for China’s AI elites through its Beijing-based laboratory, Microsoft Research Asia,’ he added. ‘The laboratory has trained many of the AI leaders and developers who went on to found or join the executive leadership of rights-abusing firms, such as Sensetime, Megvii and iFlyTek.’

Cain’s group, the Foundation for American Innovation, said it was founded to ensure technology is ‘aligned to serve human ends: promoting individual freedom, supporting strong institutions, advancing national security, and unleashing economic prosperity. But he said China has so far used AI to inflict human rights abuses on religious minorities in China.

‘The Chinese Communist Party (CCP) has engineered a vast AI-powered surveillance system literally called ‘Sky Net,’’ he said. ‘It runs AI-powered ‘alarms’ that notify the police and intelligence services when someone unfurls a banner, when a foreign journalist is traveling to certain parts of the country and when someone from an ethnic minority is present.

‘The government accuses entire groups, such as Muslim Uyghurs, of posing a terrorist threat and relentlessly persecutes them with the use of AI tools.’

Cain said that while tech leaders, including Sam Altman of OpenAI, have urged closer cooperation with China, Chinese officials have shown there’s no reason to work with China at all.

‘We must abandon the misguided idealism of working with Chinese companies and government bodies with the hope that AI will change the political system, allow for the opening of democratic discourse, and create safer global AI regulations,’ he said. ‘Rather than helping advance innovation, we will be doing the world a disservice by handing the keys to the CCP.’

Instead of working with China, Congress should be looking to ensure the U.S. remains the leader on AI innovation and is in a position to draw talent and resources away from China.

‘The most advanced American technologies and investments must not be allowed to flow in the direction of China,’ he said. ‘We must work against China’s ambitions to develop advanced AI systems, influence global standards and oppress dissidents around the world.’

The U.S. should also punish companies that help China, he added.

‘So far, American technology giants have faced no punishment for their involvement in China’s surveillance state,’ Cain said. ‘This subcommittee may consider drafting a bill that requires public corporations to publish their due diligence reports on their activities in China and the risks they have encountered with regards to human rights there.

‘The subcommittee may also consider drafting a bill that criminalizes specific American business activities in China that are likely to support, directly or indirectly, human rights abuses by the CCP,’ he added. ‘This would include prison time for American business executives involved in helping develop any form of AI in partnership with a Chinese entity if the CCP will likely use that technology for the oppression of human rights and democratic values.’

Congress has taken an active interest in regulating AI this year, but so far has yet to pass anything close to a comprehensive bill that addresses various issues raised by companies and interest groups.

Senate Majority Leader Chuck Schumer, D-N.Y., has been meeting with companies as he considers a broad AI bill in the Senate but has yet to introduce anything.

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The next generation is trusting their news-gathering and fact-checking to TikTok and Instagram personalities rather than mainstream media and journalists, according to a report.

A study conducted for the Reuters Institute for the Study of Journalism, part of Britain’s University of Oxford, found 55% of TikTok users and 52% of Instagram users get their news from ‘personalities’ on the respective platforms.

The figure of those who get their news from mainstream media and journalists on those same platforms falls to just 33% on TikTok and 42% on Instagram, per the 2023 Digital News Report.

Nic Newman, a senior research associate at the Reuters Institute, wrote in the report: ‘Perhaps the most striking findings in this year’s report relate to the changing nature of social media, partly characterized by declining engagement with traditional networks such as Facebook and the rise of TikTok and a range of other video-led networks.’

According to Newman, young people are now, more than ever, more influenced by ‘influencers’ on the platform for trends, advice and now even news.

‘Our data show, more clearly than ever, how this shift is strongly influenced by habits of the youngest generations, who have grown up with social media and nowadays often pay more attention to influencers or celebrities than they do to journalists, even when it comes to news,’ he wrote.

This trend did not reflect on older platforms like Facebook and Twitter, where those who access those platforms chose to follow mainstream news outlets over personalities for their news, 43-38 and 55-42, respectively.

TikTok also uniquely stood out among the list of social media platforms, including YouTube and Snapchat, as more users (44%) are trusting ‘ordinary people’ for getting their news. No other platform was above 37%.

The 2023 Reuters Institute Digital News Report also found more young people are choosing social media to serve them the news over directly accessing news websites or apps.

In 2018, nearly 1-in-3 young people (32%) chose mainstream media websites or apps to receive their news online. This figure has fallen to just over 1-in-5 (22%) in 2023.

Conversely, the number of young people choosing social media to get their news in 2018 was 23%, jumping to 30% this year.

For comparison, most adults over 35 years old (52%) chose to access online news by going directly to a news website or app. Only 24% of people ages 18-24 did the same.

The report concluded that young people have grown increasingly critical of the news media, which is widely driven by politicians and others.

Reuters Institute director Rasmus Kleis Nielsen said in a forward that these shifts present ‘a much more fundamental change’ for broadcast news and digital platforms.

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Sen. Ted Cruz, R-TX, defended himself on Twitter after a fact-checker claimed he was wrong about former President Obama, Iran and its ‘right’ to have nuclear technology during a speech he gave last month.

In a series of tweets, Cruz described the fact-checkers as ‘partisan, left-wing liars’ and said their fact-check of a speech he gave to the Hudson Institute, a Washington, D.C.-based think tank, last month was ‘ridiculous’ and ‘self-refuting.’

The Texas Republican then claimed the fact-checker misrepresented his words about the former president and then falsely rated his remarks.

‘Of course, I didn’t say Obama said Iran had a ‘right’ to nuclear weapons… they laughably rate my statement ‘mostly false’ because Obama didn’t say…what I didn’t say he said,’ the senator tweeted.

The disagreement seems to stem from the use of the phrases ‘nuclear technology’ and ‘nuclear weapons.’

Speaking at the Hudson Institute on May 17, Cruz said Obama ‘gave a speech where he said Iran has a right to nuclear technology.’ The comment appears to reference an address the former president gave at the University of Cairo on June 4, 2009.

Later in his speech, no longer quoting Obama, Cruz added in his own words: ‘I gotta say, that’s utterly imbecilic. I’m familiar with the right to life, with the right to liberty, or the right to pursuit of happiness. I’m not familiar with the right to nuclear weapons. Only a fool would want the Ayatollah to have nuclear weapons.’

PolitiFact addressed the comments and determined his line about Obama’s speech was ‘mostly false’ as the former president did not support Iran having ‘nuclear weapons.’

But, as Cruz points out in his tweets, he said ‘nuclear technology’ when quoting Obama — not ‘nuclear weapons,’ which he personally added later.

‘I said Obama said Iran had a ‘right’ to ‘nuclear technology,’’ Cruz wrote on Twitter. ‘He DID say that—as PolitiFact ADMITS—but they laughably rate my statement ‘mostly false’ because Obama didn’t say…what I didn’t say he said.’

The Texan added: ‘And, of course, they ignore my broader point: Iran doesn’t want nuclear technology bc they need electricity—they have tons of oil—the want nukes only to carry out their genocidal, theocratic war cry of ‘Death to America! and Death to Israel!’’

Fox News Digital reached out to Cruz’s office for comment but didn’t immediately receive a response.

In the 2009 address, Obama supported Iran’s use of nuclear power but condemned any country from having nuclear weapons.

Obama said in 2009 that ‘any nation — including Iran — should have the right to access peaceful nuclear power if it complies with its responsibilities under the nuclear Non-Proliferation Treaty,’ according to an excerpt from the White House.

The former president went on to say he wanted ‘a world in which no nations hold nuclear weapons.’

His full quotation reads (emphasis added): ‘I understand those who protest that some countries have weapons that others do not. No single nation should pick and choose which nation holds nuclear weapons. And that’s why I strongly reaffirmed America’s commitment to seek a world in which no nations hold nuclear weapons. And any nation — including Iran — should have the right to access peaceful nuclear power if it complies with its responsibilities under the nuclear Non-Proliferation Treaty. That commitment is at the core of the treaty, and it must be kept for all who fully abide by it. And I’m hopeful that all countries in the region can share in this goal.’

Later in the speech, Obama applauded ‘nuclear energy’ that is ‘used for peaceful purposes.’

Cruz’s speech at the Washington, D.C. think tank addressed Russia’s ongoing invasion of Ukraine, which is nearing 500 days, its cooperation with Iran, the Biden administration’s response to the invasion and the events of the Obama administration which proceeded it.

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EXCLUSIVE: Sen. Joe Manchin, D-W.Va., is pushing back against the Biden administration’s regulations targeting popular home appliances including natural gas-powered furnaces and stoves.

In an interview with Fox News Digital, Manchin criticized the Department of Energy (DOE) for its aggressive energy efficiency rulemakings, arguing the agency should allow the free market to improve product technology rather than force such changes through regulation. Manchin, who chairs the Senate Energy and Natural Resources Committee, expressed concern with rules aimed at electrifying gas appliances. 

‘It absolutely shows you how disconnected the [DOE] is with the facts and reality of what’s happening to the grid system,’ Manchin told Fox News Digital. ‘We’ve had so many warnings from [the Federal Energy Regulatory Commission] and [North American Electric Reliability Corporation] and everybody else that the grid is strained to say the least.’ 

‘And we’re taking more dispatchable power off the grid. That means 24/7, mostly fossil — because of the movement of this administration. It is putting us in the danger zone, the grid,’ he continued. ‘With all the movement and demand for more electric appliances that would take the place of gas whether it be a stove or furnace. It absolutely makes no sense and is not in check with reality. Absolutely not.’

Over the last several months, the DOE’s Office of Energy Efficiency and Renewable Energy has unveiled new standards for a wide variety of appliances including clothes washers, refrigerators, air conditioners and dishwashers. The administration boasted in December that it had taken 110 actions on energy efficiency rules in 2022 alone as part of its climate agenda.

The agency has taken particular aim at gas-powered appliances in an effort to curb carbon emissions and tackle global warming. Climate activists have argued that electrification, banning natural gas hookups and implementing strict energy efficiency standards could reduce reliance on fossil fuels, but experts have expressed concern such a shift could strain the power grid and lead to increased consumer costs.

In February, the DOE proposed gas stove rules that would, if implemented, eliminate an estimated 50% of the current stove models on the market. And the agency is expected to soon finalize gas furnace regulations that are expected to wipe out 60% of current models. 

‘You cannot eliminate your way to a cleaner environment,’ Manchin said. ‘It’s not going to work. It’s not feasible. It won’t be done. The rest of the world won’t follow and Asia is going to produce about 90% of all pollution in the next ten years. It’s where all the pollution is coming from. Innovation is the only way to go. If you want a clean environment, then you have to do it through technology and innovation.’

‘People want efficiency, but they also want reliability,’ the West Virginia senator added. ‘If I can buy something that I’ve been using to replace it and it’ll do the same, if not better, and do it cleaner and cheaper, there’s not a bit of problem there. The market will change. But forcing it, thinking you’re going to penalize and force people before the technology is in place — I said if it’s not feasible, it’s not reasonable.’

In February, Manchin and Sen. Ted Cruz, R-Texas, introduced the Gas Stove Protection and Freedom Act which would prevent new federal regulations restricting which gas stoves Americans are able to purchase. Manchin said he expects the bill to ultimately receive a vote with Democratic support.

‘Telling me I can’t buy something because you want the market to change and switch to something different and it’s not going to have a relevant change in the environment is absolutely ridiculous,’ Manchin continued. ‘That’s when you’re going to get all the pushback. I’m going to be pushing back.’ 

‘I can assure you in our committee, we’re not supporting any of the craziness.’

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House Democrats this week dismissed allegations President Biden improperly accepted money from a Ukrainian company during the Obama administration, but defended his administration for charging his likely 2024 rival, former President Donald Trump, with crimes.

‘I’ve seen a lot of allegations against President Biden by MAGA Republicans, but the truth is they’ve amounted to nothing. … I don’t think they have a lot of credibility. But, look, they can knock themselves out,’ Rep. Eric Swalwell, D-Calif., said when asked about whether there should be an investigation into the Biden allegations.

‘All I want them to do is pay America’s bills, fund the government and keep Ukraine in the fight. And if they want to waste their time on worthless investigations, they’ll have to answer to the American people for why they chose to do that.’

But he defended Biden’s Justice Department for indicting Trump for allegedly mishandling of classified documents and attempts to obstruct officials’ attempts to get them back.

‘I think the former president put the Department of Justice in an impossible position. I think if they wanted the documents back when it was clear that, not only would he not get them back, but he was going to have others lie on his behalf. There was really no alternative,’ Swalwell said. ‘I think if you take the politics out, you see, you can’t have top secret documents that protect our troops outside of a protected area.’

Republicans in Congress have seized on an FBI document they say shows Biden took $5 million from Burisma, the Ukrainian energy company that gave his son Hunter a seat on its board when he was vice president. A whistleblower has also allegedly come forward to congressional Republicans claiming audio recordings exist of a Burisma executive bribing Biden.

Those allegations come as Trump, the front-runner for the GOP nomination to face Biden in 2024, entered a not guilty plea in a Miami court while facing 37 criminal counts. A grand jury voted on the charges after a months-long investigation by Special Counsel Jack Smith, who was appointed by Biden Attorney General Merrick Garland.

Both Rep. Ritchie Torres, D-N.Y., and Jason Crow, D-Colo., had little to say about the Biden allegations while sounding off about Trump.

‘I have no reason to think that any of that is true,’  Torres said when asked if the Biden bribery claims have merit and should be investigated. However, he backed Garland’s appointment of Smith as an ‘apolitical decision.’

‘The attorney general followed an apolitical process of appointing a special prosecutor who made the decision to indict former President Trump independently of the president,’ Torres said. ‘If former President Trump had never obstructed justice and had simply handed over the documents upon request, then there never would have been an indictment.’

Crow said he does not ‘believe there’s merit’ to the Biden bribery allegations before pivoting to Trump.

‘You know, there’s a lot of counter facts that people try to generate on their own. But the fact of the matter is, you know, I’ve spent my adult life serving this country and promoting U.S. national security,’ Crow, a former Army ranger, said. ‘And I was completely appalled when I saw these pictures of boxes of documents sitting in Donald Trump’s bathroom. You know, I had to spend my life getting security clearances, being very careful about it.

‘Now, I’m on the Intel Committee. I understand the risk that our intelligence officials, that our servicemen and women, face every single day if information gets leaked,’ he added. ‘And just the very cavalier way in which President Trump treated that, and even admitted on record and in recordings that he wasn’t supposed to be showing stuff to certain people that weren’t cleared. It’s really appalling to me.’

He also pointed out that Trump had been indicted by a jury of Americans.

‘That’s how it works in America. It’s not a political process, and we just have to let it play it out,’ Crow said.

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Massachusetts is launching what Gov. Maura Healey described Tuesday as the nation’s ‘first green bank dedicated to affordable housing’ — an effort to address two of the state’s top challenges: grappling with the effects of climate change and easing a dire housing market.

The goal of the $50 million Massachusetts Community Climate Bank is to increase investment in the reduction of greenhouse gas emissions from the building sector, focused in large part on affordable and public housing developments, said Healey, a Democrat.

‘Other states have started climate banks. Ours, though, is the country’s first climate bank that is dedicated to housing — affordable housing in particular. That is the primary focus,’ she said at a Statehouse press conference. ‘We’re centering environmental justice for folks hit hardest by the climate impacts and high energy costs.’

In Massachusetts, buildings account for more than 25% of greenhouse gas emissions — a number that rises to about 70% in the state’s larger, densely-populated cities, Healey said.

The goal of the fund is to help ‘decarbonize’ buildings using a number of strategies, from adding heat pumps and high efficiency appliances to rehabbing older housing complexes by upgrading windows and walls and adding solar panels.

Healey, who has said reducing the state’s carbon emissions is one of her administration’s priorities, said the initial $50 million will help the state to attract additional federal and private funds and could help generate thousands of jobs.

Boston Mayor Michelle Wu, also a Democrat, said it’s important not to address climate change in isolation, but to see it as part of a range of challenges facing Boston and the state in general.

‘Fossil fuel-free housing is one of those critical intersections where climate, quality of life, health equity and economic justice meet,’ Wu said, adding that Boston is one of the cities where buildings account for about 70% of greenhouse gas emissions.

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