Without shitposting to lighten things up gravity increases and we smoosh into inkblots
Divided U.S. Rail Unions Raise Specter of Strike
Reuters November 21, 2022 By David Shepardson and Lisa Baertlein
WASHINGTON/LOS ANGELES, Nov 21 (Reuters) – The two largest U.S. rail unions representing conductors and engineers split in ratification votes on a tentative contract deal reached in September raising the possibility of a strike or lockout that could cause significant damage to the U.S. economy.Â
Members of the Brotherhood of Locomotive Engineers and Trainmen (BLET) voted to ratify the agreement while train and engine service members the transportation division of the International Association of Sheet Metal, Air, Rail, and Transportation Workers (SMART-TD) voted to reject the deal. SMART-TD yardmasters voted to ratify their national agreement, the unions said Monday.
The vote could put pressure on Congress to intervene to prevent a strike or lockout ahead of the holiday season.
“The ball is now in the railroads’ court. Let’s see what they do. They can settle this at the bargaining table,” said SMART-TD President Jeremy Ferguson said in a statement. “This can all be settled through negotiations and without a strike.”
If there is a strike by any of the unions that voted against the deal, BLET and other rail unions that have ratified agreements have pledged to lawfully honor the picket lines.
Business groups warn strand vital shipments of food and fuel. Seven of the 12 unions involved in the talks previously approved the deal, while three previously have voted against it but agreed to extend a strike deadline until early December.
Beginning on Dec. 9, SMART-TD would be allowed to go on strike or the rail carriers would be permitted to lock out workers — unless Congress intervenes.
The White House did not immediately comment.
The standoff between U.S. railroad operators and their union workers disrupted flows of hazardous materials such as chemicals used in fertilizer and disrupted U.S. passengerrailroad Amtrak service in September as railroads prepared for a possible work stoppage.Â
The Biden administration helped avert a service cutoff by hosting last-minute contract talks in September at the Labor Department that led to a tentative contract deal.
White House press secretary Karine Jean-Pierre said last month “any shutdown would be completely unacceptable. It is the responsibility of the parties involved to resolve this issue.”
Last week, the U.S. Chamber of Commerce said Congress should step in to prevent a potential rail disruption, warning it would be catastrophic for the economy. Automaker General Motors has said a halt would force it to stop production of some trucks within about a day.
A rail shutdown could freeze almost 30% of U.S. cargo shipments by weight, stoke inflation, cost the American economy as much as $2 billion per day and unleash a cascade of transport woes affecting U.S. energy, agriculture, manufacturing, healthcare and retail sectors.
The deal included a 24% compounded wage increase over a five-year period from 2020 through 2024 and five annual $1,000 lump sum payments.
The unions represent 115,000 workers at railroads, including Union Pacific, Berkshire Hathaway Inc’s BNSF, CSX, Norfolk Southern and Kansas City Southern.Â
More:
https://gcaptain.com/divided-u-s-rail-unions-raise-specter-of-strike/
Confirmed, notice the part about stakeholders in this one:
China Signs Quarter-Century LNG Deal With Qatar
Reuters November 21, 2022
By Andrew Mills (Reuters) QatarEnergy has signed a 27-year deal to supply China’s Sinopec with liquefied natural gas (LNG), the longest such LNG agreement so far as volatile markets drive buyers to seek long-term deals.
Following Russia’s invasion of Ukraine in February, competition for LNG has become intense, with Europe in particular needing vast amounts to help replace Russian pipeline gas that used to make up almost 40% of the continent’s imports.
“Today is an important milestone for the first sales and purchase agreement (SPA) for North Field East project, it is 4 million tonnes for 27 years to Sinopec of China,” QatarEnergy chief Saad al-Kaabi told Reuters in Doha, shortly before the deal signing.
“It signifies long-term deals are here and important for both seller and buyer,” he said, adding that the deal was the LNG sector’s largest single sales and purchase agreement on record.
The North Field is part of the world’s biggest gas field that Qatar shares with Iran, which calls its share South Pars.
QatarEnergy earlier this year signed five deals for North Field East (NFE), the first and larger of the two-phase North Field expansion plan, which includes six LNG trains that will ramp up Qatar’s liquefaction capacity to 126 million tonnes per year by 2027 from 77 million.
It later signed contracts with three partners for North Field South (NFS), the second phase of the expansion.
Monday’s deal, confirmed by Sinopec, is the first supply deal to be announced for NFE.
The deal was signed on an ex-ship basis, meaning QatarEnergy will provide the shipping and delivery of the LNG.
The supply contract is a key component for an integrated partnership in the NFE, Sinopec said in a statement, indicating it could be involved in stake negotiations.
QatarEnergy has maintained a 75% stake overall in the expansion and could give up to a 5% stake from its holding to some buyers, Kaabi said.
Sources told Reuters in June that China’s national oil majors were in advanced talks with Qatar to invest in NFE.
More:
https://gcaptain.com/china-signs-quarter-century-lng-deal-with-qatar/