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Latest news
21/07/24

Biden abandons bid for re-election: Update

Biden abandons bid for re-election: Update

Updates with reaction Washington, 21 July (Argus) — President Joe Biden has dropped his bid for a second term and is endorsing vice president Kamala Harris to serve as his party's presidential nominee, bowing to pressure from top Democrats who no longer saw a viable path for him to defeat former president Donald Trump in the November election. Biden committed to serve out the remainder of his term, which ends on 20 January 2025. Biden's abrupt withdrawal from the presidential race will leave it up to Democratic delegates to decide who will become their nominee by no later than the Democratic National Convention on 19-22 August. "While it has been my intention to seek re-election, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as president for the remainder of my term," Biden wrote in a letter posted on the social media site X. In calling for Democrats to rally around Harris as the nominee, Biden said he was giving his "full support and endorsement" of Harris and urged Democrats to "come together and beat Trump". Other top voices in the Democratic Party have called for a "mini-primary" to allow a new candidate to emerge, but doing so could run the risk of a protracted and politically risky intraparty fight. Trump, who has spent years attacking Biden's mental competency and age, said in a post today on Truth Social that Biden is not "fit to run for President" and had never been capable to lead the country. Other Republican leaders urged Biden to resign from the White House, which would lead to Harris being sworn in as president. "If Joe Biden is not fit to run for president, he is not fit to serve as president," US House of Representatives speaker Mike Johnson (R-Louisiana) said in a post on X. "He must resign the office immediately." House minority leader Hakeem Jeffries (D-New York) called Biden "one of the most accomplished and consequential leaders in American history". Jeffries did not explicitly endorse Harris. The Democratic revolt against Biden staying in the race followed the first presidential debate last month, when Biden often appeared feeble and confused and struggled to clearly articulate his policy positions. Biden called the debate "a stupid mistake" and blamed it on his busy travel and work schedule. But efforts by Biden and his campaign to reach out to Democratic lawmakers and donors have failed to assuage their concerns. Trump has also made polling gains in must-win battleground states such as Pennsylvania and Michigan, and even threatened to be competitive in typically Democratic strongholds such as New Jersey. Biden is the first sitting US president since Lyndon Johnson in 1968 to prematurely end his re-election campaign. Biden said he would speak "in more detail" later this week about his decision. The Trump campaign had already started preparing for the possibility that Biden would drop out of the race after the presidential debate last month. Last week, a senior adviser for the Trump campaign declined to set a date for the vice presidential debate, saying it would be "unfair" to "whoever Kamala Harris picks as her running mate", in a taunting reference to the uncertainty of Biden's candidacy. By Chris Knight and Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Latest news

Israel strikes Yemen’s Houthi-held Red Sea port city


21/07/24
Latest news
21/07/24

Israel strikes Yemen’s Houthi-held Red Sea port city

Dubai, 21 July (Argus) — Israel's military on Saturday struck Houthi-controlled Red Sea port of Hodeidah in Yemen, in retaliation for a drone attack by the Iran-backed militant group on Tel Aviv a day earlier, further stoking heightened geopolitical tensions in a key shipping lane for the global economy. Israel's airstrikes targeted "the power station that supplies the coastal city of Hodeidah" and also "the Hodeidah port and fuel tanks," Houthi spokesperson Yahya Saree said. The Houthi-run Al Masirah TV broadcast live footage of flames and smoke raging in the port's oil storage facilities that it said were hit. Saree vowed an "inevitable" and "huge" retaliation to Israel's assault. Saree also claimed on Sunday that the group fired ballistic missiles targeting Eilat in southern Israel. Israel's Defence Forces (IDF) said on Sunday it intercepted a "surface-to-surface missile that approached Israeli territory from Yemen." The IDF on 20 July officially claimed the attack on Houthi-controlled Yemeni territory. "After 9 months of continuous aerial attacks by the Houthis in Yemen toward Israel, IAF [Israeli air force] fighter jets conducted an extensive operational strike over 1,800km away against Houthi terrorist military targets in the area of Al Hudaydah Port in Yemen," the IDF said. "This port serves as an entryway for Iranian weapons for the Houthi terrorist regime," the IDF said, and Israeli prime minister Benjamin Netanyahu made similar remarks in a televised speech. Houthi spokesperson and chairman of Al Masirah media network Mohammed Abdulsalam in a statement on social media platform X said that the Israeli attack targeted "civilian facilities." He also vowed that the attacks will only "increase the determination of the Houthis to ramp up their support for Gaza." Yemen's crude production collapsed soon after the start of the country's civil war, from around 170,000 b/d in 2011-13. The Houthi group uses Hodeidah's port to import some needed fuel oil shipments, with data from analytics firm Kpler suggesting the port received two shipments totalling 156,000 bls between June and July. Hodeidah is also an entry port for humanitarian fuel and food deliveries under the UN auspices, which are then distributed both to the internationally-recognized government of Yemen and to the Houthi authorities. Video footage posted on social media appear to show long queues in front of gas stations in Houthi-controlled areas, in anticipation of a possible fuel shortage closing in. Yemen's internationally recognized and Saudi-backed governing body condemned Israel's attack in a statement. It also renewed its warning to "the terrorist Houthi militias against continuing to tie Yemenis' fate in service of the Iranian regime's interests and its expansionist project in the region." Saudi Arabia's defense ministry on Sunday denied any relation or involvement in the targeting of Hodeidah, adding that the country will not allow any entity to violate its airspace. [Yemen's Houthis on 19 July claimed responsibility] (https://direct.argusmedia.com/newsandanalysis/article/2589330) for a drone attack in central Tel Aviv in Israel that claimed the life of one citizen and injured eight, according to the IDF. It marked a significant escalation that risked a regional spillover of the 10-month conflict between Israel and Palestinian group Hamas, especially with Israel highlighting the Iranian origin of the UAV. Israel and Iran avoided a full-blown war in April after a significant escalation led to exchanging direct aerial strikes against each other's territory. But the IDF attack opens yet another area of confrontation for Israel in the region in the aftermath of the 10-month conflict between between Israel and Palestinian group Hamas. Iran-backed Houthis began attacking commercial ships in and around the Red Sea six weeks after the Israel-Hamas war broke out in October last year in what they claim is an act of solidarity with Palestinians in Gaza. Houthis are part of Tehran's so-called 'Axis of Resistance,' a regional proxy network that includes the Gaza-based Hamas militant group, Lebanon's Hezbollah and Iraqi Shia militias. By Bachar Halabi Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Latest news

Biden abandons bid for re-election


21/07/24
Latest news
21/07/24

Biden abandons bid for re-election

Washington, 21 July (Argus) — President Joe Biden has dropped his bid for a second term and is endorsing vice president Kamala Harris to serve as his party's presidential nominee, bowing to pressure from top Democrats who no longer saw a viable path for him to defeat former president Donald Trump in the November election. Biden committed to serve out the remainder of his term, which ends on 20 January 2025. Biden's abrupt withdrawal from the presidential race will leave it up to Democratic delegates to decide who will become their nominee by no later than the Democratic National Convention on 19-22 August. "While it has been my intention to seek re-election, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as president for the remainder of my term," Biden wrote in a letter posted on the social media site X. In calling for Democrats to rally around Harris as the nominee, Biden said he was giving his "full support and endorsement" of Harris and urged Democrats to "come together and beat Trump". Other top voices in the Democratic Party have called for a "mini-primary" to allow a new candidate to emerge, but doing so could run the risk of a protracted and politically risky intraparty fight. The Democratic revolt against Biden staying in the race followed the first presidential debate last month, when Biden often appeared feeble and confused and struggled to clearly articulate his policy positions. Biden called the debate "a stupid mistake" and blamed it on his busy travel and work schedule. But efforts by Biden and his campaign to reach out to Democratic lawmakers and donors have failed to assuage their concerns. Trump has also made polling gains in must-win battleground states such as Pennsylvania and Michigan, and even threatened to be competitive in typically Democratic strongholds such as New Jersey. Biden is the first sitting US president since Lyndon Johnson in 1968 to prematurely end his re-election campaign. Biden said he would speak "in more detail" later this week about his decision. The Trump campaign had already started preparing for the possibility that Biden would drop out of the race after the presidential debate last month. Last week, a senior adviser for the Trump campaign declined to set a date for the vice presidential debate, saying it would be "unfair" to "whoever Kamala Harris picks as her running mate", in a taunting reference to the uncertainty of Biden's candidacy. By Chris Knight and Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Latest news

ExxonMobil Joliet refinery may be limited for 3 weeks


19/07/24
Latest news
19/07/24

ExxonMobil Joliet refinery may be limited for 3 weeks

Houston, 19 July (Argus) — It could take up to three weeks for ExxonMobil's 252,000 b/d Joliet refinery in Channahon, Illinois, to resume normal operations after severe weather caused a facility-wide shutdown Monday . The company has limited its unbranded fuel supply in the region and placed customers on allocation, according to buyers. Restoring power and ramping-up the refinery to full operations could take up to three weeks, lasting well into August. ExxonMobil confirmed this afternoon that power has not been restored to the plant and previously declined to comment on a time line for a return to normal operations as it assesses damage at the plant. Channahon's emergency management director told Argus that Monday's tornado skirted the refinery and it faced no direct damage. US Interstate 55 which borders Exxon's refinery was closed due to downed power lines, but these have since been cleared and the road re-opened. By Nathan Risser Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Latest news

Williams to resume Louisiana gas line construction


19/07/24
Latest news
19/07/24

Williams to resume Louisiana gas line construction

New York, 19 July (Argus) — US natural gas pipeline company Williams on Friday told federal energy regulators it will proceed with construction of its delayed 1.8 Bcf/d (51mn m³/d) Louisiana Energy Gateway (LEG) gas gathering line in Louisiana. Williams' letter of intent to the US Federal Energy Regulatory Commission (FERC) is the culmination of a series of lawsuits across multiple Louisiana parishes brought by US midstream rival Energy Transfer, which seeks to stop Williams and two other pipeline companies from crossing its own gas line in the Haynesville shale. While Williams is still waiting on a final ruling over two crossings in Vernon Parish, its recent legal victories over Energy Transfer and acquisition of necessary federal permits and easements from landowners have made it possible to commence construction of LEG, Williams said. The final ruling out of Vernon Parish will be decided "soon," Williams said. Williams said it intends to release its contractor to resume pre-construction activities along its right-of-way as early as 25 July, then proceed with construction. "But for the crossing litigation with Energy Transfer, construction of [LEG] would be well underway," Williams said. The litigation has pushed Williams' expected in-service date for LEG from late 2024 to the second half of 2025. Williams prevailed over Energy Transfer earlier this month in DeSoto Parish and in early June in Beauregard Parish . By Julian Hast Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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