News StoriesExcerpts of Key News Stories in Major Media
Note: This comprehensive list of news stories is usually updated once a week. Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.
The global investigation into interest-rate manipulation has emboldened prosecutors to crack down on banks, and the settlement with the Royal Bank of Scotland on [Feb. 6] underscored that strategy. As part of the $612 million deal that American and British authorities reached with R.B.S., the bank’s Japanese unit was required to plead guilty to criminal wrongdoing, echoing an earlier action taken against a subsidiary of UBS. The cases announced so far give other banks some idea of what to expect. Three questions come into play: how much it will cost, whether a guilty plea will be required and whether embarrassing e-mails will be released. The winners in all this may be the lawyers and other advisers. The trove of internal e-mails and employee interviews, filed as part of a lawsuit by one of the investors in the securities, offers a fresh glimpse into Wall Street’s mortgage machine, which churned out billions of dollars of securities that later imploded. The documents reveal that JPMorgan, as well as two firms the bank acquired during the credit crisis, Washington Mutual and Bear Stearns, flouted quality controls and ignored problems, sometimes hiding them entirely, in a quest for profit.
Note: For deeply revealing reports from reliable major media sources on the criminal practices of the financial industry, click here.
Federal authorities are scrutinizing private consultants hired to clean up financial misdeeds like money laundering and foreclosure abuses, taking aim at an industry that is paid billions of dollars by the same banks it is expected to police. The consultants operate with scant supervision and produce mixed results, according to government documents and interviews with prosecutors and regulators. In one case, the consulting firms enabled the wrongdoing. The deficiencies, officials say, can leave consumers vulnerable and allow tainted money to flow through the financial system. The pitfalls were exposed last month when federal regulators halted a broad effort to help millions of homeowners in foreclosure. The regulators reached an $8.5 billion settlement with banks, scuttling a flawed foreclosure review run by eight consulting firms. In the end, borrowers hurt by shoddy practices are likely to receive less money than they deserve, regulators said. Critics concede that regulators have little choice but to hire outsiders for certain responsibilities after they find problems at the banks. The government does not have the resources to ensure that banks follow the rules. Some banks that work with consultants continue to run afoul of the law. At other times, consultants underestimate the extent of the misdeeds or facilitate them, preventing regulators from holding institutions accountable.
Note: For deeply revealing reports from reliable major media sources on the criminal practices of the financial industry, click here.
Insiders have been pulling out of stocks just as small investors are getting in. Selling by corporate executives has surged recently as the Dow Jones Industrial Average hit 14,000 and retail investors flooded into stocks. The amount of insider selling has usually preceded market selloffs. "In almost perfect coordination with an equity market that was rushing toward new all-time highs, insider sentiment has weakened sharply — falling to its lowest level since late March 2012," wrote David Coleman of the Vickers Weekly Insider report, one of the longest researchers of executive buying and selling on Wall Street. "Insiders are waving the cautionary flag in an increasingly aggressive manner." There have been more than nine insider sales for every one buy over the past week among NYSE stocks, according to Vickers. The last time executives sold their company's stock this aggressively was in early 2012, just before the S&P 500 went on to correct by 10 percent to its low for the year. "Insiders know more than the vast majority of market participants," said Enis Taner, global macro editor for RiskReversal.com. "And they're usually right over a long period of time." "Insiders (are) showing a remarkable ability of late to identify both market peaks and troughs," states the Vickers report. For selling to be big enough that firms like Vickers raise a bearish flag, the bulls may want to take heed.
Note: For more on this, click here.
A pilot who wrote a conspiracy theory book about 9/11 is dead after he shot his two teenage children and family dog before turning the gun on himself. Relatives and friends of Phillip Marshall were stunned by the violent crime which took place in Calaveras County on [Feb. 2]. The tragedy came as a shock for those living in the small town. The former airline pilot's controversial conspiracy book The Big Bamboozle: 9/11 and the War on Terror was released last year. While he was writing it, Marshall believed that his life was in danger because of the allegations involved. According to [the] Santa Barbara View, during the editing and pre-marketing process of Marshall’s book, he expressed some degree of paranoia because the nonfiction work accused the George W. Bush administration of being in cahoots with the Saudi intelligence community in training the hijackers who died in the planes used in the attacks. Amazon says about Philip Marshall: 'A veteran airline captain and former government "special activities" contract pilot, he has authored three books on "Top Secret America," a group presently conducting business as the United States Intelligence Community. Marshall has studied and written [about] covert government special activities and the revolving door of Wall Street tricksters, media moguls, and their well funded politicians. He is the leading aviation expert on the September 11th attack.'
Note: Does something smell fishy here? Don't miss the even more revealing article written in a local newspaper at this link which questions whether Marshall might have been killed because of his 9/11 conspiracy views.
The torture and murder of 5-year-old Lama Al Ghamdi could hardly have been more horrific. But the fact that this story of one little girl’s death and one father’s monstrosity went public is also a sign of just how hard women in Saudi Arabia are working to fight the cruel misogyny embedded in the kingdom’s version of Islamic law. Fayhan Al Ghamdi ... was arrested last year and charged with murder. He told authorities that he had suspected his 5-year old daughter was not a virgin. He had even taken her to a doctor to check. But apparently that had not satisfied him. He admitted he’d used a cane and electrical cables on the child. Saudi law claims to follow a clear path (sharia) laid out in the Quran, but in practice it’s based on a maze of sayings and traditions (hadith) with as many baffling contradictions as the codes used by lawyers anywhere. According to one reading, a father cannot be held fully accountable for the death of his children; their loss is a punishment for him. So the question arose in the proceedings whether Al Ghamdi could simply pay the mother “blood money” for the loss of her daughter and walk free. The mother has said she will not accept payment. Before the middle of the last decade, domestic violence and child abuse in Saudi Arabia were treated mainly as family affairs. Nobody wanted to talk about them, and if police did bother to investigate suspected crimes, which was rare, they found proof very hard to come by.
Note: As a strong ally of the U.S., the monarchy of Saudi Arabia is very rarely criticized by politicians or the media for it's highly oppressive government and practices. For deeply revealing reports from reliable major media sources on child abuse, click here.
The Roman Catholic Archdiocese of Los Angeles released 12,000 pages of internal files [on Jan. 31] on priests accused of sexually abusing children, saying that it was finally abiding by a settlement it signed with victims six years ago to make the painful history public. But it now appears that the files the church released with much fanfare are incomplete and many are unaccounted for, according to the abuse victims’ lawyers. In addition, on many documents the names of church supervisors informed of abuse allegations were redacted by the archdiocese, in apparent violation of a judge’s order. Abuse victims had insisted that the Archdiocese of Los Angeles release the records as part of a settlement in 2007, which provided $660 million to more than 500 victims. “We know we have not gotten a complete disclosure,” said Jeff Anderson, who is among the lawyers representing the victims. “It’s more deception, deceit and secrecy.” The Archdiocese of Los Angeles fought for six years all the way to the State Supreme Court to block the release of the documents. Early in January, Judge Emilie H. Elias overturned a previous decision, and ordered the archdiocese to lift the redactions of the names of certain kinds of officials: archbishops and bishops, vicars for clergy members and directors of treatment facilities, as well as pastors, “church agents” or employees who had supervisory responsibility over an accused priest and were made aware of complaints or suspicions about him. But on many pages it appears that the names of supervisors, like pastors in parishes or the supervisors of religious orders, are missing.
Note: For deeply revealing reports from reliable major media sources on sexual abuse scandals, click here.
The Archdiocese of Los Angeles released 12,000 pages of personnel files on sexually abusive priests that Archbishop Jose Gomez described as "brutal and painful reading." While many of the names of the abusers and accusations against them were known, the files reveal previously undisclosed details of how the church transferred priests out of state, sent them to therapists who wouldn't report crimes and suppressed information from reaching the public. As far back as March 1988, then-Archbishop Roger Mahony was warned in a confidential memo that the [Rev. Richard Henry's] behavior around young boys — long embraces, rubbing noses, leading them to the privacy of his room — was unsettling to those who witnessed it. In October that year, Henry was ordered in a letter from a superior, then-Monsignor Thomas Curry, to "not be alone with minors." Henry served prison time for abusing several boys. The church records show the archdiocese maneuvered behind the scenes to avoid a possible lawsuit against a priest over abuse allegations in Los Angeles. In 2007, five former altar boys from Tucson, Ariz., were awarded $1.5 million each as part of the archdiocese's $660 million clergy-abuse settlement. The five said they were abused by the Rev. Kevin Barmasse, who was sent to Arizona during the 1980s after he'd been accused of child molestation in Los Angeles.
Note: For deeply revealing reports from reliable major media sources on sexual abuse scandals, click here.
For years, writer Bob Harris enjoyed a unique opportunity - traveling to some of the most luxurious hotels in the world on behalf of ForbesTraveler.com. But, as he bounced from one five-star palace to another, he felt uneasy about the inequality of the industry: The people who build these places don't get to see or experience them. He decided he would somehow give back his salary from the decadent escapes he'd had. That's when he discovered Kiva, the San Francisco crowdfunding site that enables individuals to offer $25 loans to entrepreneurs in the developing world. Harris began lending via Kiva.org. Then, some friends joined in, building a community of lenders they called, aptly, Friends of Bob Harris. Over the last three years, they've collectively lent more than $3 million. In 2011, Harris decided to go meet some of the entrepreneurs and write about his travels, microfinance and Kiva's impact. That took him to a dozen countries - Bosnia, Nepal, Cambodia, Kenya and more - and resulted in a book: The International Bank of Bob: Connecting Our Worlds One $25 Loan at a Time. Recently, he spoke with The Chronicle about his travels and what he learned. Q: Did you ask the entrepreneurs point blank about ... what did they think of the lending criteria? A: I did get feedback on what ... changes they wanted. They wanted longer grace periods; a longer length of time between getting the loan and their first payment so that they could think more about long-term investments; they wanted a version of "revolving credit." I never once heard [complaints] about the interest rate.
Are police officers necessarily more trustworthy than alleged criminals? The police have a special inclination toward confabulation ... because, disturbingly, they have an incentive to lie. In this era of mass incarceration, the police shouldn’t be trusted any more than any other witness, perhaps less so. That may sound harsh, but numerous law enforcement officials have put the matter more bluntly. Peter Keane, a former San Francisco Police commissioner, wrote [that] “Police officer perjury in court to justify illegal dope searches is commonplace. One of the dirty little not-so-secret secrets of the criminal justice system is undercover narcotics officers intentionally lying under oath. It is a perversion of the American justice system that strikes directly at the rule of law. Yet it is the routine way of doing business in courtrooms everywhere in America.” The New York City Police Department is not exempt from this critique. New York City officers have been found to engage in patterns of deceit in cases involving charges as minor as trespass. Jeannette Rucker, the chief of arraignments for the Bronx district attorney, explained in a letter that it had become apparent that the police were arresting people even when there was convincing evidence that they were innocent. To justify the arrests, Ms. Rucker claimed, police officers provided false written statements, and in depositions, the arresting officers gave false testimony.
Note: For deeply revealing reports from reliable major media sources on police and prisons corruption, click here.
One of [the big drug companies'] bright spots has been emerging markets where in recent years percentage growth in sales has caught up to and in many instances galloped ahead of other regions. But with pharmaceutical companies continuing to pay record civil and criminal fines in the U.S. for illegal marketing practices, recent scrutiny of similar practices abroad raises questions as to whether pharma has simply exported its fraudulent marketing playbook to Europe, Asia, the Middle East and elsewhere. Those sales and marketing tactics are bad news for patients around the world, as financial inducements and bribes should not be permitted to corrupt medical treatment decisions. The good news is that the Securities and Exchange Commission (SEC) whistleblower program will undoubtedly accelerate exposure of corrupt practices overseas and bring greater transparency into pharma’s business practices generally. Pharma companies already are being investigated for U.S. Foreign Corrupt Practices Act (FCPA) violations. The FCPA makes it illegal to bribe foreign officials to win business. Pfizer, the world’s largest drugmaker, paid $60.2 million last month to the U.S. to settle charges that the company bribed government officials – including hospital administrators, government doctors and members of regulatory and purchasing committees — in China, Russia, Italy, Bulgaria, Croatia, Serbia and Kazakhstan to approve and prescribe Pfizer products. Other pharma companies are under scrutiny by the U.S. for their practices elsewhere.
Note: For deeply revealing reports from reliable major media sources on pharmaceutical industry corruption, click here.
This month, Johnson & Johnson is facing more than 10,000 lawsuits over an artificial hip that has been recalled because of a 40 percent failure rate within five years. Mistakes happen in medicine, but internal documents showed that executives had known of flaws with the device for some time, but had failed to make them public. The entire evidence base for medicine has been undermined by [a] lack of transparency. Sometimes this is through a failure to report concerns raised by doctors and internal analyses, as was the case with Johnson & Johnson. More commonly, it involves the suppression of clinical trial results, especially when they show a drug is no good. The best evidence shows that half of all the clinical trials ever conducted and completed on the treatments in use today have never been published in academic journals. Trials with positive or flattering results, unsurprisingly, are about twice as likely to be published — and this is true for both academic research and industry studies. In the worst case, we can be misled into believing that ineffective treatments are worth using; more commonly we are misled about the relative merits of competing treatments, exposing patients to inferior ones. This problem has been documented for three decades, and many in the industry now claim it has been fixed. But every intervention has been full of loopholes, none has been competently implemented and, lastly, with no routine public audit, flaws have taken years to emerge.
Note: For deeply revealing reports from reliable major media sources on pharmaceutical industry corruption, click here.
In statehouses around the country, some of the nation’s biggest biotechnology companies are lobbying intensively to limit generic competition to their blockbuster drugs, potentially cutting into the billions of dollars in savings on drug costs contemplated in the federal health care overhaul law. The complex drugs, made in living cells instead of chemical factories, account for roughly one-quarter of the nation’s $320 billion in spending on drugs, according to IMS Health. And that percentage is growing. They include some of the world’s best-selling drugs, like the rheumatoid arthritis and psoriasis drugs Humira and Enbrel and the cancer treatments Herceptin, Avastin and Rituxan. The drugs now cost patients — or their insurers — tens or even hundreds of thousands of dollars a year. Two companies, Amgen and Genentech, are proposing bills that would restrict the ability of pharmacists to substitute generic versions of biological drugs for brand name products. Bills have been introduced in at least eight states since the new legislative sessions began this month. Others are pending. The companies and other proponents say such measures are needed to protect patient safety because the generic versions of biological drugs are not identical to the originals. For that reason, they are usually called biosimilars rather than generics. Generic drug companies and insurers are taking their own steps to oppose or amend the state bills, which they characterize as pre-emptive moves to deter the use of biosimilars, even before any get to market.
Note: For deeply revealing reports from reliable major media sources on pharmaceutical industry corruption, click here.
Four years into his presidency, President Obama's political formula should be obvious. He gives fabulous speeches teeming with popular liberal ideas, often refuses to take the actions necessary to realize those ideas and then banks on most voters, activists, reporters and pundits never bothering to notice - or care about - his sleight of hand. Never was this formula more apparent than when the president discussed military conflicts during his second inaugural address. Declaring that "a decade of war is now ending," he insisted that he "still believe(s) that enduring security and lasting peace do not require perpetual war." Few seemed to notice that the words came from the same president who is manufacturing a state of "perpetual war." Obama, let's remember, is the president who escalated the Afghanistan War and whose spokesman recently reiterated that U.S. troops are not necessarily leaving that country anytime soon. He is the president who has initiated undeclared wars in Pakistan, Yemen, Somalia and Libya. Just days before Obama's inaugural address declaring an end to war, the Washington Post reported that the administration's new manual establishing "clear rules" for counterterrorism operations specifically creates a "carve-out (that) would allow the CIA to continue" the president's intensifying drone war. That's the "perpetual war," you'll recall, in which Obama asserts the extra-constitutional right to compile a "kill list" and then order bombing raids of civilian areas in hopes of killing alleged militants - including U.S. citizens.
Note: Could it be that the military-industrial complex has significantly more power than the president? For powerful evidence of this from a high-ranking US general, click here.
Cyber-threats are the new pretext to justify expansion of power and profit for the public-private National Security State. The Washington Post [reports] "a major expansion of [the Pentagon's] cybersecurity force over the next several years, increasing its size more than fivefold." Specifically, ... "the expansion would increase the Defense Department's Cyber Command by more than 4,000 people, up from the current 900." The Post describes this expansion as "part of an effort to turn an organization that has focused largely on defensive measures into the equivalent of an Internet-era fighting force." This Cyber Command Unit operates under the command of Gen. Keith Alexander, who also happens to be the head of the National Security Agency, the highly secretive government network that spies on the communications of foreign nationals - and American citizens. These activities pose a wide array of serious threats to internet freedom, privacy, and international law that, as usual, will be conducted with full-scale secrecy and with little to no oversight and accountability. And, as always, there is a small army of private-sector corporations who will benefit most from this expansion. The fear-mongering rhetoric from government officials has relentlessly intensified, all devoted to scaring citizens into believing that the US is at serious risk of cataclysmic cyber-attacks from "aggressors". This all culminated when Defense Secretary Leon Panetta, last October, warned of what he called a "cyber-Pearl Harbor". This "would cause physical destruction and the loss of life, an attack that would paralyze and shock the nation and create a profound new sense of vulnerability."
Note: Defense Secretary Panetta's warning of a 'cyber-Pearl Harbor' will surely serve as a reminder for many of the Project for the New American Century's call for a 'new Pearl Harbor' just a few months before 9/11. Is it likely that he was unaware of the baggage such language carries at present? For more on WantToKnow team member Prof. David Ray Griffin's epochal book The New Pearl Harbor, click here.
The New York Times ... reported yesterday that the State Department "reassigned Daniel Fried, the special envoy for closing the prison at Guantánamo Bay, Cuba, and will not replace him". That move obviously confirms what has long been assumed: that the camp will remain open indefinitely. Dozens of the current camp detainees have long been cleared by Pentagon reviews for release - including Adnan Farhan Abdul Latif, a 36-year-old Yemeni who died at the camp in September after almost 11 years in a cage despite never having been charged with a crime. Like so many of his fellow detainees, his efforts to secure his release were vigorously (and successfully) thwarted by the Obama administration. What [makes] Guantánamo such a travesty of justice [is] not its geographic locale in the Caribbean Sea, but rather its system of indefinite detention: that people [are] put in cages, often for life, without any charges or due process. Obama's plan was to preserve and continue that core injustice - indefinite detention - but simply moved onto US soil. Put simply, Obama's plan was never to close Gitmo as much as it was to re-locate it to Illinois: to what the ACLU dubbed "Gitmo North". That's why ACLU Executive Director Anthony Romero said of Obama's 2009 "close-Gitmo" plan that it "is hardly a meaningful step forward" and that "while the Obama administration inherited the Guantánamo debacle, this current move is its own affirmative adoption of those policies." That's because, he said, "the administration plans to continue its predecessor's policy of indefinite detention without charge or trial for some detainees, with only a change of location."
Note: For deeply revealing reports from reliable major media sources on government attacks on civil liberties, click here.
The shooter behind the deadly massacre at the Sikh Temple of Wisconsin [on August 5, 2012] has been identified as 40-year-old Wade Michael Page. Page previously served in the U.S. military, but was no longer on active duty. Page enlisted in the Army in April 1992 and was given a less-than-honorable discharge in October 1998. He was last stationed in Fort Bragg, N.C., serving in the psychological operations unit. Authorities said Page strode into the temple carrying a 9mm handgun and multiple magazines of ammunition and opened fire without saying a word. When the shooting at the Sikh Temple of Wisconsin in suburban Milwaukee ended, six victims ranging in age from 39 to 84 years old lay dead. Three others were critically wounded. The suspect was shot and killed by police. Page joined the military in Milwaukee in 1992 and was a repairman for the Hawk missile system before switching jobs to become one of the Army’s psychological operations specialists assigned to a battalion at Fort Bragg, N.C. As a psyops specialist, Page would have trained to host public meetings between locals and American forces, use leaflet campaigns in a conflict zone or use loudspeakers to communicate with enemy soldiers. He never deployed overseas while serving in that role, Pentagon spokesman George Wright said. The FBI was leading the investigation because the shooting was considered domestic terrorism, or an attack that originated inside the U.S. The agency said it had no reason to believe anyone other than Page was involved. The shooting also came two weeks after a gunman killed 12 people at movie theater in Colorado.
Note: For more on US military and intelligence agency mind control programs and the creation of assassins ("Manchurian Candidates"), click here.
The Catholic archdiocese of Los Angeles has removed a top clergyman linked to efforts to conceal abuse as it released thousands on files of priests accused of molesting children. Archbishop Jose Gomez said he had stripped his predecessor, the retired cardinal Roger Mahony, of all public and administrative duties. "I find these files to be brutal and painful reading. The behaviour described in these files is terribly sad and evil," Gomez said in a statement released by the US's largest Catholic archdiocese. "There is no excuse, no explaining away what happened to these children. The priests involved had the duty to be their spiritual fathers and they failed," he said. Mahony's former top aide, Thomas Curry, also stepped down as bishop of Santa Barbara. The 12,000 pages of files were made public more than a week after church records relating to 14 priests were unsealed as part of a separate civil suit, showing that church officials plotted to conceal the abuse from law enforcement agencies as late as 1987. The documents showed that Mahony, 76, and Curry, 70, both worked to send priests accused of abuse out of the state to shield them from scrutiny. A spokesman for a victims' support group said that the removal of Mahony and Curry was long overdue and a small step after the church spent years fighting to protect them. "Hand-slapping Mahony is a nearly meaningless gesture," said David Clohessy, the director of the Survivors Network of Those Abused by Priests, or SNAP.
Note: For deeply revealing reports from reliable major media sources on sexual abuse scandals, click here.
From 1992 to 1995, Utah television news and print media were agog in reports that scores of Utah children had been ritually abused as part of a macabre and gruesome circle of Satanic covens operating undercover in neighborhoods from Logan to St. George. Judy Byington, a retired licensed clinical social worker, has made it her mission to keep campaigning against these elusive crimes. Twenty-Two Faces, Byington's biography of Jenny Hill, an alleged victim, explores how her client's personality became fractured due to trauma. [Byington:] I had women in their 20s who came to me in my counseling practice in Provo. They had ritual-abuse memories of their fathers abusing them. One thing you have to understand about ritual abuse is that it's done on purpose, to divide the mind. And the only person who's mind is vulnerable at that time is the child with a developing brain. It's called mind control. Our purpose is to expose ritual abuse. Children are being abused. We want to uncover and document the fact that the problem is real. It's going on all around us. Denial is the biggest problem. People don't believe it's going on. There are active covens, or groups of men, with one woman as their witch. The biggest problem of victims is that no one around them believes them. They've been tortured, seen children murdered, and know ritual abuse first-hand. Their biggest problem is society's denial.
Note: For more revealing information on this sad story, click here and here. For more on ritual sex abuse and its relation to mind control, click here.
Since 2008, oil production in the United States has surged ... 28 percent as the controversial practice of fracking unlocks new supplies in North Dakota and Texas. At the same time, use of oil and petroleum products has fallen 4 percent, as Americans switch to more efficient cars. In theory at least, both of those factors should have pushed the price of crude down. Instead, it's gone up. Since bottoming out during the financial crisis, oil futures traded on the New York Mercantile Exchange have nearly tripled in value, climbing from $33.87 per barrel in December 2008 to roughly $95 this month. Oil still costs substantially more now than it did in 2007, before the recession began. The high price illustrates a brutal truth of today's interconnected world - oil is a global commodity, bought and sold in a global marketplace. Even while demand falls in the United States, it's growing in countries such as China and India. Critics say the price paradox undercuts the oil industry's efforts to drill in more of America's public lands and coastal waters. "It really debunks the myth of 'Drill, baby, drill,' that if we just produce more oil, prices will stay low or go lower," said Michael Marx, director of the Sierra Club's Beyond Oil campaign. Will all that extra petroleum finally mean lower prices? "It's a difficult question to answer, because there's not a one-for-one (relationship) between an increase in production and a decrease in prices," said Doug MacIntyre, director of the Energy Information Administration's office of petroleum statistics. "There are so many other factors."
Note: Though the author refers to "so many other factors," he doesn't even mention greed and corruption which almost everyone knows are rampant. When will the media focus their attention on these fundamental challenges of our world?
While the United States still searches for a coherent national energy policy, countries you wouldn't expect are at the forefront of a green transformation. China has concrete plans to shift to renewables on a national scale and is manufacturing solar panels so cheaply it's hard for American companies to compete. Saudi Arabia, the world's biggest oil producer - led by octogenarians rarely associated with swift societal change - is moving at lightning speed to transform its electricity grid from near zero to 100 percent renewable sources. It's not that the Saudis suddenly have become environmentalists. In September, Citigroup issued a chilling, though not surprising, warning that Saudi Arabia could run out of crude for export by 2030. Even before Citigroup published its analysis, the Saudi government announced that it would spend more than $100 billion to develop 41 gigawatts of solar energy, enough to power one-third of the sun-drenched country, by 2032. In October, Saudi Arabia's 68-year-old Prince Turki Al Faisal told an economic forum in Brazil he would like to see the kingdom go entirely renewable within his lifetime. Saudi Arabia demonstrated its seriousness just a few weeks later by bringing senior executives from 20 U.S. clean-energy companies to Riyadh to explore partnerships. SunPower Corp., a San Jose manufacturer of solar systems already working with the Saudis, was one of the delegation's leaders. In other words: American companies are helping transform Saudi Arabia into a clean-energy haven so that the world's biggest oil producer can keep sending dirty and expensive crude back to gas-guzzling Americans.
Note: For deeply revealing reports from reliable major media sources on energy developments, click here.
Important Note: Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.