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Fossil future: Exxon Mobil picks up Permian Basin rival in $59B deal

Published Wed, 26 Feb 2025 09:09:17 GMT

Exxon Mobil is buying Pioneer Natural Resources in an all-stock deal valued at $59.5 billion, its largest buyout since acquiring Mobil two decades ago, creating a colossal fracking operator in West Texas.Including debt, Exxon is committing about $64.5 billion to the acquisition, leaving no doubt of the Texas energy company’s commitment to fossil fuels as energy prices surge.Pioneer shareholders will receive 2.32 shares of Exxon for each Pioneer share they own.“I think fossil fuels, as the world looks to transition and find lower sources of affordable energy with lower emissions, fossil fuels oil and gas are going to continue to play a role over time,” Exxon Mobil CEO Darren Woods said during an interview with CNBC. “That may diminish with time. The rate of that is, I think, not very clear at this stage. But it will be around for a long time.”Woods explained that Exxon and Pioneer will be able to use their combined capabilities to drive down emissions an...

Social media is awash in misinformation about Israel-Gaza war, but Musk’s X is the most egregious

Published Wed, 26 Feb 2025 09:09:17 GMT

By BARBARA ORTUTAY (AP Technology Writer)While Twitter has always struggled with combating misinformation about major news events, it was still the go-to place to find out what’s happening in the world. But the Israel-Hamas war has underscored how the platform now transformed into X has become not only unreliable but is actively promoting falsehoods.Experts say that under Elon Musk the platform has deteriorated to the point that it’s not just failing to clamp down on misinformation but is favoring posts by accounts that pay for its blue-check subscription service, regardless of who runs them.If such posts go viral, their blue-checked creators can be eligible for payments from X, creating a financial incentive to post whatever gets the most reaction — including misinformation.Ian Bremmer, a prominent foreign policy expert, posted on X that the level of disinformation on the Israel-Hamas war “being algorithmically promoted” on the platform “is unlike anything I’ve ever been exposed to...

Patriots-Raiders injury report: JuJu Smith-Schuster, Demario Douglas out Wednesday, 11 limited

Published Wed, 26 Feb 2025 09:09:17 GMT

The Patriots listed wide receivers JuJu Smith-Schuster and Demario Douglas as non-participants for Wednesday’s practice.Related ArticlesNew England Patriots | Mac Jones bringing new attitude after two straight Patriots losses? New England Patriots | Patriots offense gets good news at practice ahead of Week 6 matchup vs. Raiders New England Patriots | Bill Belichick insists re-signing Jakobi Meyers was priority for Patriots New England Patriots | Bill Belichick: Mac Jones will start at QB, Patriots ‘not making any changes’ New England Patriots | Could Patriots CB J.C. Jackson start Sunday against the Raiders? The team also listed 11 players as limited, including six starters. Of those six starters, half were offensive linemen: left tackle Trent Brown, left guard Cole Strange and right guard Mike Onwenu. After missing Tuesday’s practice, Onwenu returned to the field Wednesday.In Las...

Ex-NFL player Sergio Brown arrested in Southern California in connection to mother’s slaying

Published Wed, 26 Feb 2025 09:09:17 GMT

Former NFL player Sergio Brown was arrested in Southern California in connection with the death of his mother, authorities said, as he tried to reenter the United States from Mexico just weeks after the 73-year-old woman was found slain behind her suburban Chicago home.Brown, 35, was detained Tuesday afternoon and booked into San Diego County Jail without bail following a “fugitive arrest,” records show.Brown agreed to be extradited to Illinois during a Wednesday court hearing, San Diego District Attorney’s office spokesperson Steve Walker told The Associated Press in an email.Authorities in Illinois have until Nov. 13 to retrieve Brown, Walker said.Walker said an attorney from the San Diego County Public Defender’s office represented Brown at the hearing. The AP was unable to reach anyone Wednesday afternoon at the public defender’s office for comment.It was unclear what the exact charges are against Brown, but a warrant for his arrest cited first-degree murder, accordi...

Families in Israel and abroad wait in agony for word of their loved ones taken hostage by militants

Published Wed, 26 Feb 2025 09:09:17 GMT

TEL AVIV (AP) — One of those taken hostage is a grandmother who learned Arabic in hopes of building bridges with her neighbors. Others include 10 members of an extended family, one an elderly man in a wheelchair who requires hospital care. Still another is a nurse who delivered thousands of babies over the years to parents both Israeli and Palestinian.All are among roughly 150 people abducted by Hamas militants early Saturday during sweeping raids on Israeli towns and villages near the heavily fortified border with the Gaza Strip. They include citizens of Brazil, Britain, Italy, the Philippines and the United States, as well as many Israelis. The number of hostages, provided by Hamas and Israeli officials, has not been independently confirmed.Militants have vowed to start killing hostages if Israel’s airstrikes target civilians inside Gaza without first providing a warning allowing them to flee. It has placed the families and friends of those taken in a terrifying and desperate situ...

Caroline Ellison, saying Sam Bankman-Fried corrupted her values, found relief when truth came out

Published Wed, 26 Feb 2025 09:09:17 GMT

NEW YORK (AP) — Sam Bankman-Fried ’s former top executive, testifying in Manhattan federal court Wednesday, blamed the FTX founder for corrupting her values so she could lie and steal and got emotional when describing the cryptocurrency empire’s final days, saying the collapse of his businesses resulted in a “relief that I didn’t have to lie anymore.”Caroline Ellison, who eventually was made chief executive of Bankman-Fried’s cryptocurrency hedge fund, Alameda Research, blamed the man she was entwined with romantically for several years since 2018 for creating justifications so that she could do things that she now admits were wrong and illegal.Testifying for a second day, she recalled that Bankman-Fried said he wanted to do the greatest good for the most people and that rules like “don’t lie” or “don’t steal” must sometimes be set aside.Assistant U.S. Attorney Danielle Sassoon asked Ellison how she was affected by Bankman-Fried’s philosophy.“I th...

Photographer who captured horrifying images of Challenger breaking apart after launch has died

Published Wed, 26 Feb 2025 09:09:17 GMT

TITUSVILLE, Fla. (AP) — Bruce Weaver, a Florida-based photographer who captured a definitive image of space shuttle Challenger breaking apart into plumes of smoke and fire after liftoff, has died. He was 77.A statement released by the North Brevard Funeral Home said Weaver died in his sleep Friday with his wife and family by his side. He was living in Titusville, Florida, along the state’s Space Coast.Working as a freelance photographer for The Associated Press, Weaver was among hundreds of witnesses on the ground at the Kennedy Space Center who watched Challenger lift off from the launch pad carrying aboard New Hampshire schoolteacher Christa McAuliffe and six other astronauts on Jan. 28, 1986.The space shuttle disintegrated 73 seconds later, killing all seven crew members. Launched on an exceptionally cold morning, Challenger was brought down by eroded O-ring seals in the right booster.At a time when film was still being used, Weaver had not filled up the 36 frames on his ro...

Man who found bag of cash, claimed finders-keepers, pays back town, criminal charge dropped

Published Wed, 26 Feb 2025 09:09:17 GMT

A Connecticut man who found a bag containing nearly $5,000 in cash outside a bank and claimed “finders-keepers” had a criminal charge against him dropped Wednesday after he gave the money back.Robert Withington, 57, went to Bridgeport Superior Court for a scheduled court hearing, but a state prosecutor informed Withington’s lawyer the charge was being dropped.Withington found the bank bag with $4,761 on May 30 outside a bank in his hometown of Trumbull, near Bridgeport. It turned out the money belonged to the Trumbull tax collector’s office, and a town employee had dropped the bag while walking to the bank to deposit the money, police said.Police said the bag had the bank’s name on the outside, and there were deposit slips inside indicating the money belonged to the town, authorities said. A police officer had escorted the town employee to the bank, but neither noticed the bag being dropped, police said.Withington, a dog trainer, happened to be near the bank at the...

Prosecutors say a reckless driving suspect bit an NYPD officer’s finger tip off

Published Wed, 26 Feb 2025 09:09:17 GMT

NEW YORK (AP) — A New York City police officer lost his left ring finger up to the first knuckle when a reckless driving suspect bit him, prosecutors said Wednesday.Lenni Rodriguez Cruz, 28, could be sentenced to 25 years in prison for leading police on a wild car chase, crashing into several vehicles and biting a sergeant who was trying to put him in a holding cell, Queens District Attorney Melinda Katz said.The episode started shortly before midnight on Sept. 20. A police officer patrolling in the Jamaica section of Queens spotted Rodriguez Cruz driving a car with license plates that weren’t registered to the vehicle, Katz said in a news release.The officer tried to pull Rodriguez Cruz over, but he sped off, mounted a sidewalk and drove through a park, scattering parkgoers as they ran to safety, Katz said.Rodriguez Cruz kept driving and hit four vehicles including an unmarked police car that was part of a barricade set up to stop him, Katz said. The driver of one of the cars...

Exxon’s US$59.5B bet on fossil fuels has implications for Canadian oilpatch: experts

Published Wed, 26 Feb 2025 09:09:17 GMT

CALGARY — Exxon Mobil Corp.’s acquisition of Pioneer Natural Resources in a US$59.5 billion mega-deal is being seen by some as a massive vote of confidence in fossil fuels that also bodes well for the Canadian oilpatch.Dan Tsubouchi, principal and chief market strategist with SAF Group, says Exxon is clearly confident that global demand for oil will remain strong in the immediate future.He says while the energy transition will mean declining demand for oil in the long-term, Exxon likely believes it has at least a 15-year window before that effect is significant.Tsubouchi says Exxon’s bullish view on fossil fuels is shared by many in the Canadian oilpatch, adding he wouldn’t be surprised to see an uptick in merger and acquisition activity here — particularly among producers using hydraulic fracturing (fracking) in the Montney region of northeast B.C. and northwest Alberta.Exxon’s blockbuster deal announced Wednesday is the U.S. super-major’s largest buy...