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New York Democratic Rep. Daniel Goldman is pushing legislation against big oil ‘profiteering’ after reporting sizable assets in the same major oil companies he’s targeting.

Goldman announced this month he’s co-sponsoring legislation called The Big Oil Windfall Profits Tax Act which would ‘tax large oil companies profiteering in the wake of the COVID pandemic’ and reinvest in ‘underserved and climate justice communities.’

‘Since the start of the COVID pandemic, Big Oil has raked in record profits while gas prices soar, American families struggle to make ends meet, and climate change continues to wreak havoc on our communities,’ Goldman said in a statement regarding the proposal and another piece of legislation called the Energy Resilient Communities Act.

These two critically important pieces of legislation would redirect unjustifiable corporate profiteering to the pockets of everyday Americans and invest in life-saving green infrastructure in communities that are on the front line of the devastating effects of climate change.’

The windfall profits legislation aims to tax oil companies that produce or import more than 300,000 barrels daily. The per-barrel tax would equal ‘50% of the difference between the current price of a barrel of oil and the pre-pandemic average price per barrel between 2015 and 2019.’

The tax would also apply to ‘oil profits in 2022 and going forward so that Americans gouged by high prices are made whole,’ a press release from his office said, which later added that ‘oil giants like Exxon Mobil and Chevron cannot simply gouge consumers further without the threat of losing market share.’

However, Goldman reported significant holdings in oil companies his legislation targets, and even the very ones his office singled out. The New York Democrat said he held between $100,001 and $500,000 in Exxon Mobil investments in his financial disclosure form submitted in July 2022. He also reported between $100,001 and $500,000 in Chevron assets.

The two giants, however, were not the only prominent oil companies in his investment portfolio. Goldman reported between $100,001 and $500,000 in assets in ConocoPhillips, which produces millions of barrels of oil daily and would face taxes under his proposal.

The disclosures further show that he had investments of up to $100,000 in Marathon Petroleum Corp., which also produces millions of barrels of oil daily and would face new taxes.

Goldman’s legislation would use the revenue from the oil taxes to give consumers a rebate that would phase out for single filers who earn over $75,000 in annual income and joint filers who make over $150,000.

‘With oil priced at roughly $90-100 per barrel, this levy would raise approximately $49.1 billion per year,’ the press release says. ‘At this price, single filers would receive an estimated $260 each year and joint filers $390.’

Goldman, a wealthy heir to the Levi Strauss jean company fortune, entered Congress this year but began pushing far-left climate policies during his midterm campaign.

During the 2022 elections, Goldman’s campaign website said climate change is an ‘urgent, existential threat’ and that he supports the principles behind the controversial Green New Deal.

‘Dan supports the principles and goals of a Green New Deal to transition to clean energy, which will also create millions of good-paying union jobs,’ the website states. 

‘Dan will work to incentivize private companies to invest in renewable energy and encourage community and public power production. We must promote public-private partnerships to address climate change at the necessary pace to save our planet,’ it adds.

Goldman’s office did not respond to a Fox News Digital request for comment on his oil company investments.

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Republican presidential candidate Donald Trump suggested Saturday that Manhattan District Attorney Alvin Bragg has dropped the case against him for alleged campaign finance violations.

‘I think they’ve already dropped the case,’ Trump told reporters aboard his plane after appearing at a campaign rally in Waco, Texas.

‘It’s a fake case. Some fake cases, they have absolutely nothing.’

When asked for comment about Trump’s claim the case has been dropped, Trump campaign spokesman Steven Cheung told Fox News Digital: ‘This has been dropped because everyone knows this was a partisan witch-hunt by a radical, leftist DA that sought to politically weaponize the Justice system to influence an election.’

It was reported last week that Bragg’s office would likely issue an indictment for alleged hush-money payments that Trump supposedly made as a presidential candidate in 2016 to adult film star Stormy Daniels in 2016.

Republicans on the House Judiciary Committee have demanded that Bragg testify before Congress about the details of his probe.

The D.A’s office blasted the Republicans’ request in a statement Saturday 

‘We evaluate cases in our jurisdiction based on the facts, the law, and the evidence. It is not appropriate for Congress to interfere with pending local investigations,’ the office said. ‘This unprecedented inquiry by federal elected officials into an ongoing matter serves only to hinder, disrupt and undermine the legitimate work of our dedicated prosecutors. As always, we will continue to follow the facts and be guided by the rule of law in everything we do.’

The office told Fox News Digital that Bragg ‘stands by’ his previous pledge to publicly state the conclusion of the investigation, ‘whether we conclude our work without bringing charges, or move forward with an indictment.’

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Secretary of State Antony Blinken could be served a subpoena on Monday if he doesn’t turn over classified documents about the chaotic U.S. withdrawal from Afghanistan, the chair of the House Foreign Affairs Committee said.

‘It’s extraordinary to have 23 embassy employees dissenting to the policy of the secretary of State and the White House,’ Rep. Michael McCaul, a Texas Republican, told ‘Fox News Sunday’ host Shannon Bream. 

‘We want to know – and the American people deserve to know, and the veterans and the Gold Star mothers deserve to know – what were in those dissenting cables.’

Last week during a hearing on the State Department budget, McCaul gave Blinken a Monday deadline to provide the committee a dissent cable authored by at least 23 diplomats stationed the U.S. embassy Kabul in July 2021. The cable warned about how security in Afghanistan was deteriorating before the U.S. withdrawal at the end of August 2021. 

The document was sent through a ‘dissent channel,’ which allows State Department officials to send warnings to senior officials. 

‘We need this dissent cable, and I think the American people deserve to see it, to know what in the world was going on in those critical weeks,’ McCaul told Blinken last week during the hearing. ‘I have the subpoena. It’s right here, and I’m prepared to serve this.’

McCaul told Bream on Sunday that he is sticking with his plan to serve the subpoena if he does not receive such documents. 

‘If they don’t deliver by Monday, close of business, I will serve that subpoena,’ McCaul said. 

Blinken said at the hearing last week that the State Department will not release a copy of the cable in order to protect the dissent channel.

‘It is vital to me that we preserve the integrity of that process and of that channel, that we not take any steps that could have a chilling effect on the willingness of others to come forward in the future, to express dissenting views on the policies that are being pursued,’ Blinken said.

McCaul said Sunday the U.S. withdrawal from Afghanistan, which left 13 U.S. service members dead, was a ‘turning point’ for America’s ‘projection of weakness’ on the world stage, pointing specifically to how China and Russia interpreted the withdrawal.

‘When Afghanistan imploded, that is the turning point. That is when Putin… looked at Ukraine, and Xi’s looking at Taiwan. That’s when everything changed. Afghanistan was a turning point. It was a disaster. We left Americans behind, Afghanistan partners behind,’ he said.

The State Department did not immediately respond to Fox News Digital’s request for comment on McCaul’s comments Sunday. 

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Former President Donald Trump took aim at potential Republican primary foe Florida Gov. Ron DeSantis during a recent campaign event, with much of the criticism garnering little enthusiasm from those in attendance.

During his Saturday campaign event in Waco, Texas, on Saturday, Trump argued that DeSantis had little chance of becoming Florida’s governor without the former president’s endorsement, with Trump breaking into an impersonation of DeSantis allegedly begging him for his support in the state’s 2018 Republican primary.

‘So, he came, and he really wanted [my endorsement]. I said, ‘You can’t win, can you? How do you – can [you] win?” Trump said, recalling the alleged conversation with DeSantis. ‘‘Sir, if you endorse me, I’ll win. Please, please, sir, endorse me,” Trump continued as he acted out a crying, begging voice.

While similar jabs against political opponents have been a hit with Trump’s crowds during past rallies, those in attendance were noticeably more silent as Trump took aim at DeSantis. Though some in the crowd could be heard laughing or clapping as Trump continued to be critical of DeSantis, the reaction of the crowd was much more silent than when Trump went after other targets, such as the mainstream media.

DeSantis, who has yet to declare a 2024 White House bid, is largely regarded as Trump’s biggest rival in the Republican primary field. Having just won reelection in Florida in a landslide, many analysts have noted the governor’s growing national profile and popularity in the key swing state as a reason DeSantis could be a legitimate challenger to Trump.

That reality has caused Trump to more frequently target DeSantis for criticism in recent weeks, with that trend continuing during the former president’s event in Waco.

‘He gets the nomination because of you. He wins the election because of you. Two years later, the fake … is up there saying, ‘Will you run against the president? Will you run?’ And he says, ‘I have no comment,’’ Trump said after arguing that DeSantis was virtually dead in the race before his endorsement.

Trump went after DeSantis for his handling of COVID-19, arguing that other states did not shut down as Florida did at the beginning of the pandemic, and blasted the Florida governor’s record of attempting to slash Social Security benefits while a member of Congress.

The former president also argued that Florida was in great shape well before DeSantis took office.

‘Remember one thing: Florida has been tremendously successful for many years, long before this guy became governor,’ Trump said. ‘Florida was tremendously successful under Rick Scott … whether you like him or not, Charlie Crist was very successful, he was a Republican at the time. But Florida has been successful for decades, in fact, probably as or more successful than it is now.’

DeSantis’ office did not immediately reply to a Fox News request for comment on Trump’s remarks.

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California Democrat Rep. Ro Khanna announced Sunday he will not be running for the Senate in 2024, while also endorsing Rep. Barbara Lee for Sen. Dianne Feinstein’s seat.

‘Over the past few months, it has been an honor to hear from progressives and Bernie Sanders supporters who have reached out and encouraged me to enter the race,’ Khanna said in a press release. ‘While I am honored, I believe the most exciting place to advance bold and progressive policy right now is in the House.’

‘Today, I am proud to endorse Barbara Lee and serve as a co-chair of her campaign. From the beginning, I have said that I would look closely at what Barbara Lee does and that her decision would weigh heavily on mine,’ Khanna continued. ‘She is a personal hero and one of the reasons why I first ran for Congress at age 27 on an anti-war platform. Her lone vote against the war in Afghanistan is one of the most courageous acts of modern time.’

Khanna also made the announcements on CNN’s ‘State of the Union.’

Feinstein, who is currently the longest-serving female senator ever and also the oldest sitting senator at age 89, announced she would not be seeking re-election in early February.

‘I am announcing today I will not run for re-election in 2024 but intend to accomplish as much for California as I can through the end of next year when my term ends,’ the senator said in a statement last month. 

Lee filed to enter the race just a few days after Feinstein announced her retirement. She is set to face off against fellow Democrat Reps. Katie Porter and Adam Schiff, who have also announced their intention to fill the senator’s seat. 

When asked why he would not back Porter or Schiff, Khanna responded that he had much ‘respect for them, but Barbara Lee is a unique voice.’

‘The other two are formidable candidates, but I think Barbara Lee is going to be very, very strong,’ Khanna added. 

Lee is the highest-ranking Black woman appointed to the House Democratic leadership, also serving as co-chair of the Policy and Steering Committee. The representative’s track record includes being the only member of Congress to vote against the authorization for the use of military force after the Sept. 11, 2001, terrorist attacks. 

Fox News’ Julia Musto and The Associated Press contributed to this report. 

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A campaign staffer for Republican presidential candidate Donald Trump who is leading the charge to blackball staffers for Florida Gov. Ron DeSantis previously worked for the Republican governor.

Justin Caporale, a former Trump White House adviser who helps lead the former president’s advance team, has declared that anyone who staffed a recent DeSantis book tour or previously worked for the governor will be considered ‘persona non grata,’ sources told RealClearPolitics last week.

‘It’s a time for choosing,’ one of the sources reportedly said. ‘If you work for Ron DeSantis’ presidential race, you will not work for the Trump campaign or in the Trump White House.’

The Trump campaign did not dispute the article when reached by Fox News Digital on Sunday.

A quick search for Caporale’s name on the Florida governor’s website shows that he previously worked as the director of external affairs for DeSantis’ office. 

According to the website for Event Strategies Inc., where Caporale serves as CEO, he ‘worked to establish a support network to facilitate community engagement efforts for the Governor, First Lady, and Lt. Governor — including the execution of the State’s largest Trade Mission to Israel.’

Politico reported on Caporale’s exit from DeSantis’ office in June 2019, saying he reportedly rubbed some members of staff the wrong way.

‘He clashed with some other staffers in the office, which had become a problem,’ a source told the outlet at the time. ‘He is a pro, but there was some tension there.’

Caporale did not respond to Fox News Digital’s inquiry that asked why he is permitted on the Trump campaign while other former DeSantis staffers are not.

The blackballing comes amid an escalating war of words between Trump, who’s announced a 2024 presidential campaign, and DeSantis, who has not announced a White House bid but is still widely considered Trump’s chief competition in the Republican primary.

Fox News Digital’s Aaron Kliegman contributed to this report.

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The Biden administration plans to roll out executive orders and climate mandates affecting automobiles and trucks to reach a 50% reduction in emissions by the end of the decade, according to Special Presidential Envoy for Climate John Kerry

During an interview with Yahoo News last week, Kerry spoke on President Biden’s plans, but also on lifestyle changes people may have to make to reach net zero carbon emissions by 2050.

At the beginning of the interview though, Kerry was asked about Biden’s Inflation Reduction Act, or IRA, noting that it is only projected to reach a 40% reduction in carbon emissions by the end of the decade, shy by about 10% of the president’s goal.

‘Well, we’re doing a lot more than just the IRA. The IRA is a package that in and of itself can get the 40%,’ Kerry said. ‘But in addition to that, the president is issuing executive orders. There’ll be changes on automobile, on light truck, heavy truck, heavy duty, a number of initiatives that are being taken by states, subnational, cities…’

He added that when the U.S. pulled out of the Paris climate agreement, the U.S. still saw 75% of the new energy that came online, came from renewable resources.

‘So, we have a lot of other options, tools if you will, in the toolkit besides the IRA,’ Kerry said.

The former presidential candidate also said achieving the goal is not dependent on federal government mandates, though it is critical. He explained that corporations also must do their part.

He gave the example of the airline industry doing their part to meet a net-zero 2050 target in two separate phases, or scopes to reduce emissions that the industry is responsible for.

‘So, there are a lot of things happening, and nobody can guarantee this,’ Kerry said. ‘Right now, we’re behind. I mean, we’re seriously behind.’

In terms of electric vehicles, General Motors said by 2035 it only plans to make vehicles that operate on electricity. 

Kerry was also asked about people who do not want to change their lifestyles for things like switching from gas to electricity for cooking.

‘Unless somebody were able to provide that with zero carbon intensity, I mean, if you can do that. Now that’s not doable today,’ he said. ‘So yes, gas at a certain point becomes a serious challenge here.’

‘It would be like taking a coal plant offline and switching to gas. Yes, you got rid of the coal emissions, but generated gas emissions.’

‘You’ve got to be able to reduce the gas emissions also,’ he said. ‘That’s the challenge for the industry.’

Kerry’s camp did not immediately respond to questions concerning the interview and the Biden administrations’ future mandates.

In February, Biden faced severe backlash when a regulatory plan to ban most gas stoves surfaced. 

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Ultimately, breaking out above the August 2022 high represents the key level to reverse the downtrend that began in early-January 2022. I like to use longer-term charts to determine whether we’re currently trending higher or lower, and right now the downtrend is firmly in place:

The numbers on the above chart identify the lower highs and lower lows that remain in play. Until we clear that August high, the price chart remains bearish. The problem is that if you wait until the long-term price chart turns bearish in a cyclical bear market (January through October 2022), you ride at least half, if not more, of the downtrend. The same holds true when bottoms form. If we’re waiting for price confirmation – clearing overhead price resistance a little below 340 – we will have missed the first 30% or more of the move higher.

That’s why I do what I do. The price chart only tells us so much. We must be aware of the “under the surface” signals taking place to truly understand the likelihood of a market advance of decline. Despite the clear downtrend on the chart above, I’m VERY BULLISH and have been since June 2022.

If you had $100,000 invested at the end of 2021 and you shorted the S&P 500 (bought SH) when we turned bearish at EarningsBeats.com, that $100,000 would have grown to nearly $125,000. On June 17, 2022, we called a market bottom. Investing that $125,000 in the SPY at that time would have grown to roughly $137,000 as of Friday’s close. That would be a total 37% gain in the last 15 months, while the S&P 500 still remains 16.7% below its close on December 31, 2021. That type of outperformance vs. the S&P 500 is life changing, when you further consider the compounding nature of investment returns.

I’ve spent the past several months explaining to our EarningsBeats.com members why I believe the stock market is heading a lot higher. There are a number of reasons from the positive divergence that appeared on the above weekly chart to extreme bearishness in the options world to serious accumulation by Wall Street. Throw in a very strong seasonal period that begins this week and you’ll begin to understand why I’m looking short-term at a breakout in the QQQ. We’ve been threatening and it wouldn’t take much buying from here to clear overhead resistance on the daily chart:

Given the “under the surface” bullish signals, I’m simply waiting for the price action to confirm what I already believe is an uptrend that will result in all-time highs for our major indices later this year or early next. It will be spurred by growth stocks as the 10-year treasury yield ($TNX) continues to move lower.

I’ll be featuring one industry group that will be a key leader during this next move higher. It’s on the verge of its own breakout, one that will help to carry the NASDAQ much, much higher. If you’d like to receive this chart, simply CLICK HERE and sign up for our FREE EB Digest newsletter with your name and email address. There is no credit card required and you may unsubscribe at any time.

Happy trading!

Tom

The governor of Idaho has signed into law a bill legalizing the use of a firing squad in state executions.

Gov. Brad Little signed the bill after it was passed on March 20 by a veto-proof majority of the Idaho Legislature.

Under the new law, firing squads will not be the first option and will only be utilized for executions when the drugs necessary for a lethal injection are unavailable.

Idaho is the fifth state in the country to legalize the practice, following Utah, Oklahoma, South Carolina, and Mississippi.

The newly legalized execution method could impact the state’s eight current death row inmates and possibly the future of student stabbings suspect Bryan Kohberger. 

He could face death if convicted of any of four first-degree murder charges he faces in the November deaths of Madison Mogen, Kaylee Goncalves, Ethan Chapin and Xana Kernodle.

‘The firing squad is the quickest, surest and most error-free and the only technique for which we have skilled and trained professionals,’ says Fordham Law School professor Deborah Denno, a leading expert on the death penalty in the U.S.

Denno, who has researched methods of execution for the past three decades, has written seven articles cited by the Supreme Court on the topic, according to her university biography.

In addition to a persistent scarcity of approved lethal injection drugs, the procedure is difficult for a number of reasons.

Condemned inmates often have vein damage due to prolonged drug use, some of them are too obese, and others have too much muscle, she said. Others are so nervous that their veins contract.

In some gruesome cases, executioners are forced to cut into the inmate’s neck or groin to find a place to insert the needle. At times, condemned inmates have even assisted prison personnel in inserting it themselves.

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New York Republican Rep. George Santos introduced a bill Friday that would prevent the U.S. government from providing financial aid to any country that discriminates or takes legal action against its residents based on sexual orientation.

Titled the ‘Equality and Fiscal Accountability Protection Act of 2023,’ the bill, according to Santos’ office, would ‘require that countries receiving federal aid from the United States protect those based on sexual orientation and for other purposes.’

‘Discrimination against both women and the LGBTQ community is unacceptable,’ Santos said in a statement about the legislation. ‘My bill will send a clear message that the United States will not offer federal aid to countries found to be violating the rights of individuals based on sexual orientation. We as a nation have a responsibility to stand up for the human rights of all people, regardless of race, religion, or sexual orientation.’

Under the bill, Santos’ office said the State Department would be required to ‘assess a country’s human rights record before providing federal aid.’

Countries found in violation of certain human rights ‘would be ineligible to receive aid until they take steps to address the issues,’ Santos’ office noted.

Santos introduced the measure after Uganda lawmakers looking to outlaw homosexual activity in the country passed a bill Tuesday prescribing jail terms of up to 10 years for those who have same-sex relations.

Following its passage, the bill, which has received support from a great deal of lawmakers in the country, was sent to the desk of President Yoweri Museveni, who has also expressed support for it. In a recent speech, Museveni accused Western countries of ‘trying to impose their practices on other people.’

The bill creates an offense of ‘attempted homosexuality,’ punishable by up to 10 years jail time. It also creates an offense called ‘aggravated homosexuality,’ which applies to sexual relations among those infected with HIV, minors and other categories. Its punishment is not immediately clear.

The United States currently ‘provides significant health and development assistance to Uganda, with a total assistance budget exceeding $950 million per year,’ according to the State Department’s website.

‘The U.S. mission is working with the government of Uganda to improve tax collection and oil revenue management, and to increase Uganda’s domestic funding for public services and the national response to HIV/AIDS,’ the State Department noted in March 2022.

National Security Council spokesman John Kirby warned this week that if the law were enacted, Washington would ‘have to take a look’ at imposing economic penalties on Uganda.

‘We’re certainly watching this real closely. And we would have to take a look at whether or not there might be repercussions that we would have to take, perhaps in an economic way, should this law actually get passed — enacted,’ Kirby told reporters.

Kirby noted that this would be ‘really unfortunate’ since most U.S. aid is in the form of health assistance, especially anti-AIDS assistance.

Same-sex relations in Uganda are already criminalized under a colonial-era penal code. Harsh anti-gay legislation enacted in 2014 later was annulled by a panel of judges amid international condemnation. That bill, in its original draft, had called for the death penalty for some homosexual acts.

Asuman Basalirwa, who sponsored the new measure in Uganda, said his bill would punish ‘promotion, recruitment and funding’ related to LGBTQ activities.

Homosexuality is already illegal in more than 30 of Africa’s 54 countries.

Fox News’ Lawrence Richard and Julia Musto, as well as The Associated Press, contributed to this article.

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