This Week’s Under-reported News Summary – Sept. 30, 2020

Compiled by Bob Nixon

  • U.S. dominates in fossil fuels, but China leads renewable energy world market
  • Global banks defy U.S. crackdowns on corruption
  • Milwaukee could determine November election

• During the summer, President Donald Trump visited Midland, Texas to boast of expanding oil exports from fracking energy reserves. Over the past decade, America’s oil output has more than doubled and its gas production increased by over 50 percent. America is now the world’s top producer of both fuels. But in its latest “World Energy Outlook”, published on Sept. 14, British Petroleum, argues that demand for oil may already have peaked and could go into steep decline. This is because of an acknowledgment by most countries that, for the sake of the climate, reliance on fossil fuels needs to come to an end.

(“America’s Domination of Oil and Gas Will Not Cow China,” Economist, Sept. 19, 2020)

• Secret financial records reveal global banks continue to move trillions of dollars in illicit funds across the globe. These transactions, in violation of anti-money laundering regulations, aid corrupt officials, drug traffickers and terrorists.

(“Global Banks Defy U.S. Crackdowns by Serving Oligarchs, Criminals and Terrorists,” BuzzFeed, Sept. 20, 2020)

• Joe Biden’s election prospects may reside in African-American neighborhoods in Milwaukee, Wisconsin. Four years ago, turnout of black voters in Wisconsin’s largest city fell by 41,000 voters, nearly twice the margin with which Donald Trump won the swing state. Democrats say they have learned their lesson not to ignore Milwaukee, but the city faces a long legacy of racism, economic decay and growing frustration with the political establishment.

(“Why Milwaukee Could Determine Joe Biden’s Fate in Nov. Election,” Guardian, Sept. 21, 2020; “What Happened to Milwaukee’s Black Middle Class?” American Prospect, Sept. 21, 2020)

This week’s News Summary was narrated by Anna Manzo.

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