Mar 13, 2017

Oil prices are down but oil execs are optimistic

Clinton Steeds via Flickr CC

Although oil prices are down 10 percent in the past month Bloomberg finds that oil executives are optimistic and increasing capital expenditures this year. The optimism may indicate their faith in Trump to deregulate the industry and boost U.S oil and gas explorations and production.

Here's what some CEOs had to say about the coming year's outlook:

  • Halliburton: "In 2Q...customer animal spirits were back in North America. Last quarter...these animal spirits were alive but somewhat caged up. Now these animal spirits have broken free and they are running."
  • BP: "2017 is one of the largest years for commissioning new major projects in our history."
  • Ecopetrol: "Investing in exploration will be more than doubled...from $250 million last year to $650 million. [This] will get reflected in a total of 17 exploratory wells to be drilled vs. seven last year."
  • Schlumberger: "Recovery is on its way in all markets.''

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Acting Navy head apologizes for calling fired captain "stupid"

Acting Secretary of the Navy Thomas Modly testifies on Capitol Hill in December. Photo: Saul Loeb/AFP via Getty Images

Acting Navy Secretary Thomas Modly apologized Monday for calling Capt. Brett Crozier, the ousted commander of the USS Theodore Roosevelt "too naive or too stupid" over his letter pleading for help following a coronavirus outbreak onboard.

The big picture: His apology came after President Trump told a news briefing earlier Monday he would "get involved" following a leak of Modly's remarks on Crozier to the ship's crew, obtained by CNN. Modly said in a statement.

Go deeperArrowUpdated 6 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 1,346,299 — Total deaths: 74,679 — Total recoveries: 276,636Map.
  2. U.S.: Total confirmed cases as of 9:30 p.m. ET: 367,507— Total deaths: 10,908 — Total recoveries: 19,598Map.
  3. 2020 update: Wisconsin Supreme Court blocks governor's attempt to delay in-person primary voting delayed until June.
  4. States latest: West Coast states send ventilators to New York and other states with more immediate need — Data suggest coronavirus curve may be flattening in New York, Gov. Andrew Cuomo said.
  5. World update: U.K. Prime Minister Boris Johnson moved to intensive care as coronavirus symptoms worsen.
  6. Stocks latest: The S&P 500 closed up 7% on Monday, while the Dow rose more than 1,500 points.
  7. What should I do? Pets, moving and personal health. Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Former Vatican treasurer George Pell's sexual abuse convictions overturned

Cardinal George Pell at the County Court in Melbourne, Australia, in 2019. Photo: Michael Dodge/Getty Images

George Pell, the former Vatican treasurer, has won his appeal and had his child sexual abuse convictions overturned by Australia's High Court.

Why it matters: The cardinal became last year the highest-ranking Catholic Church official to go to trial and be convicted for sex abuse. But the High Court's ruling means he can be immediately released from prison, where he was serving a six-year sentence.

Go deeperArrowUpdated 57 mins ago - World