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US shale will recover quickly from coronavirus shock, says US energy chief Dan Brouillette

first_imgUS shale production will recover, but will struggle to match previous highsIn Lance’s view, the shale industry will struggle to rebound to the pre-crisis heights of around 13 million bpd, but could encroach on 12 million bpd as the recovery progresses.“A lot depends on the shape of this recovery,” he added. “If I were a betting man, today I would say it would be pretty difficult for us to return to 13 million bpd.”The ConocoPhillips boss also advocated for more consolidation within the shale sector to make it more competitive and demonstrate to investors that good returns can be achieved.He said: “The fundamental point is we’ve got to put these assets in less hands, more rational hands, and run them for returns, not necessarily growth for growth’s sake.“Doing that then cuts the fixed cost of the system, brings the cost of supply down, and makes the US energy system and the global energy system more competitive with a lot of the NOCs [national oil companies] and the other people that are competing in this business.” Measures are being taken to ease oversupply that has weighed heavily on commodity pricesThe IEA recently estimated US shale will suffer a 50% decline in investment activity by the end of the year, as companies struggle to balance the books amid the crisis and investors show reluctance to fund new production efforts in the low-price environment.Oversupply has been a key contributor to the depressed prices and, after April’s storage scramble that pushed the West Texas Intermediate (WTI) benchmark into negative pricing for the first time, the US government has intervened by opening up its strategic petroleum reserve to domestic producers.Secretary Brouillette confirmed 23 million barrels of crude storage capacity was awarded to US companies last month, with around a quarter of these deliveries having been made by mid-May.US Secretary of Energy Dan Brouillette spoke during an IEA webinar (Credit: Twitter/Dan Brouillette)He also welcomed this week’s extension of the “historic” Opec+ agreement to co-ordinate global production cuts, a deal that has helped to rebalance oil markets and stabilise prices over the past month or so.“Make no mistake, today’s crisis is global,” he added. “It transcends any one nation, and requires a swift and decisive response from all of us.” ConocoPhillips boss says US shale will recover, but access to finance will not be as robust as it once wasHis comments echo the optimistic tone sounded by ConocoPhillips CEO Ryan Lance in a recent interview with IHS Markit, in which he discussed the oil major’s experience of the latest energy crisis.“Shale is not broke; shale is not gone; shale will come back,” he said – although admitted the pace at which the US sector can recover might be “slower” due to capital pressures.“I don’t think the access to capital in the investor community, at least in the public side of the business, is going to be as robust as it was over the last decade.“That’s just the value proposition conversation about how we get value investors and energy investors back into this business – and that’s going to be a function of giving money back to the investor, modifying your growth so don’t have to grow that fast, and a real heavy focus on return on capital employed.”Doing so, he said, is “what’s going to get the investors back and excited” about shale exploration and production. Lowest number of active rigs across US oilfields since records beganIn the US, many wells have been taken offline to remove excess oil from an oversaturated market and ease the pressure on prices.Recent data from oilfield services firm Baker Hughes identified 284 active rigs across US production fields in the week ending 5 June – 691 fewer than the same time last year, and the lowest level since its records began in 1987.In its latest update, the US Energy Information Administration (EIA) pegged US crude production at 11.4 million barrels per day for May – down from a peak of around 12.9 million bpd in November 2019 – with the downward trend expected to continue until 10.6 million bpd in March 2021.US production of dry natural gas in 2020 is expected to average 89.7 billion cubic feet (bcf) per day, down from 2019’s record-setting pace of 92.2 bcf per day — with low oil and gas prices “discouraging producers” particularly in the prolific Permian and Appalachian regions.For 2020 as a whole, the EIA revised down its crude production forecast to average 11.6 million bpd – although some analysts believe the figure could be up to one million bpd lower than this guidance – and in 2021 production will average 10.6 million bpd.center_img The low-price environment triggered by Covid-19 has forced US shale firms to lower production (Credit: ConocoPhillips) Despite the hardships faced by US shale at the hands of a pandemic that has obliterated energy demand and sent oil prices plunging, top industry figures believe the sector possesses the resilience and flexibility to recover quickly as the wheels of industry begin to turn once more.The low-price environment that has swept global oil markets amid coronavirus has posed a particular problem for unconventional operators in the US, where margins are historically tight and access to finance had already grown more difficult in the years since the previous oil crash in the mid-2010s.But speaking yesterday (10 June) in a webinar hosted by the International Energy Agency (IEA), US Secretary for Energy Dan Brouillette said he is “optimistic about the future”, and that “when the demand curve comes back, some of this industry is going to come back very, very fast”.“We’re going to see the production of oil in the US increase, we’re going to see the production of natural gas increase as well, and I think that will be in very short order,” he said.“The development of the technologies that have led to the unconventional plays that we see here in the US, in the shale industry in particular, allows those industries to scale up and down very rapidly.“So it’s incumbent on us in the US Department of Energy to continue that drive towards innovation that creates efficiencies in these important industries.” US shale was flying high before coronavirus clipped its wings – but top industry figures think operational flexibility will enable a swift recovery as the market rebalanceslast_img read more

Rents rise 3.2% year-on-year

first_imgRents rose by 3.2 per cent to an average £926 per month in February compared to the same time last year, the latest figures show.The Countrywide monthly Lettings Index for February has identified a fall in tenants’ negotiating power, with the average home in the UK let for 99.9 per cent of the asking rent, the highest such value since 2007, just before the global economic downturn.This figure is highest in London where the average let was agreed at 100.9 per cent of the asking price while it was lowest in Wales at 98.7 per cent.With demand continuing to heavily outstrip the supply of private rental homes, one in five of those renting in the capital pay more than asked for to secure a property of their choice. This equates to £94 a month over and above the asking rent against a UK average of £44 which, over the course of a typical 17-month tenancy, works out to be an additional £1,578 in rent for the average Londoner.Rental price growth in London has unsurprisingly outstripped all other parts of the country since 2007, with rents 34 per cent above their pre-recession record compared to12 per cent across the UK as a whole.As was the case in 2015, rents are growing at the fastest rate across the South of the UK. The South East saw growth of 5.8 per cent, the South West up 4.8 per cent and Greater London up 4.2 per cent above the UK average.In contrast, the Midlands (1.1 per cent) and the North (3.8 per cent) both saw rents grow more slowly.Johnny Morris (left), Research Director at Countrywide, said, “The combined effect of growing numbers of people renting and a lack of supply has seen tenants’ ability to negotiate diminish. Tenants are having to compete more often and with more people in order to rent the home they want, meaning they need to offer more money in order to push ahead of the crowd.”Meanwhile, the volume of tenants in serious rent arrears dropped in the final quarter of 2015.According to the latest data from Your Move and Reeds Rains, 1,500 households have moved out of serious rent arrears, a 1.5 per cent quarter-on-quarter improvement.There were 82,900 households behind on more than two months’ rent in Q4 2015, down from 84,200 in the third quarter.However, on an annual basis the number of tenants in serious rent arrears remains 19.5 per cent higher than in the corresponding period in 2014.Adrian Gill (right), Director of Your Move and Reeds Rains, said, “Private renting is still absorbing thousands of extra households every month – housing millions more than just a few years ago. As this tenure of housing and this way of living grows, affordability is the issue that goes hand-in-hand with questions of capacity.“An individual tenant is still extremely unlikely to fall into serious rent arrears. In fact the proportion of renters getting seriously behind on payments has dropped considerably over the longer term. But absolute numbers are now going the right way too. With fewer people at risk from more serious consequences of struggling to pay the rent, this is great news.”Lettings index private renting rents rise rent increases lettings rising rents Countrywide research March 16, 2016The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Home » News » Housing Market » Rents rise 3.2% year-on-year previous nextHousing MarketRents rise 3.2% year-on-yearLatest lettings Index has identified a fall in tenants’ negotiating power when renting a new home.The Negotiator16th March 20160608 Viewslast_img read more

Credit crunch cuts Oxford’s assets

first_imgA recent survey has concluded that estimates over £100 million of Oxford’s endowments has been lost due to the credit crunchThe survey has concluded that British universities will lose as much as 15% of their wealth as the economic recession lowers the value of land and shares.For Oxford, this figure would suggest around £102 million of the university’s £680 million would disappear. If a similar loss hit the endowments of the colleges, total losses could be over £500 million.A university spokesman said, “we believe the university has sound policies in place to mitigate the impact of any longer term declines. Higher education remains a vital investment for the future.”These setbacks come after Oxford embarked on a massive campaign for funding last year. This aimed to raise £1.25 billion to help the University compete with wealthy American rivals. Among the projects university administrators hoped to fund were the development of the old Radcliffe Infirmary site and new buildings for the Bodleian.University Vice-Chancellor John Hood said at the time that his team, “must significantly increase the University’s endowment.”It is unclear how much of the funding gained in the campaign will be cancelled out by the effect of the credit crunch.Oxford also had £30 million invested in the collapsed Icelandic banking system. It is uncertain whether this will be restored to the University.last_img read more

BREAKING EXCLUSIVE: Cherwell and The Oxford Student to merge

first_imgCherwell and The Oxford Student have announced their upcoming merger in a bid to create a gigantic student paper.The merger will create the opportunity for the new paper to develop their focus on increasing the output of predictable comment pieces and news you’ve probably already seen. The merger will also allow for the expansion of the popular Puzzles section into a full pullout and for the creation of quizzes to discover which Oxford college you truly are (sorry, someone has to be St Hugh’s). The new paper will also be launching a Tab-style Top 100 BNOCs of Oxford competition. Entrants will be ranked by hack level, the number of likes on their Facebook profile picture, and – the most important metric – the number of Oxfesses they have been tagged in. Whether the paper will also follow the Tab in launching a “Best Bums of Oxford” competition remains to be decided.In order to decide the new senior editorial team for the paper, the respective teams from Cherwell and The Oxford Student will fight in a Hunger Games style battle in Christchurch Meadows. Tickets will be available soon but are expected to sell out quickly, with the main buyers being those who’ve had hit pieces written about them by the respective editors. Trudy Ross, current Editor in Chief at Cherwell (and posh humanities student) commented: “The demand for student journalism is being grossly overestimated by posh humanities students. No matter how special Oxford thinks it is, it doesn’t need this many student papers. We’ll be doing everyone a huge favour by cutting down the number of publications they need to apply to at the start of each term, as well as saving them the awkwardness of having to cancel an interview at the last minute.”OxStu Editor in Chief Isaac Healey said: “With the merger of our editorial teams, we have halved the time needed for article turnover and doubled our published output almost instantly. Pooling our resources has also freed up the budget to station our News reporters overseas, so readers can look forward to exciting reports from our new International Correspondents.”“Best of all, this would cut my workload in half,” he added, before logging off and tapping in one of the other Editors to take his place.Abigail Howe, Editor in Chief at Cherwell, was too busy rewording Oxford Mail articles to provide a full comment but, after being tapped in by Isaac, confessed that “as student journalism in Oxford consists of reporting on the same people getting into scandals and others regurgitating lukewarm takes they’ll eventually pitch to the Telegraph, a merger shouldn’t be a surprise. The next plan is to unite all student newspapers across the UK in a mega ‘Unipaper’. At least then I’d know who I was competing with when I sold my soul for a potential internship at the Spectator”. In conjunction with the merger announcement, The Oxford Student and Cherwell are running a competition to select the name for the new paper. The competition is open to all Oxford students and staff, and the winner will receive merchandise featuring the current logos of both papers, expected to skyrocket in value after both papers cease to exist. “We’ve already tried ‘The Oxford Cherwell’ and ‘The Cherwell Student’, but they aren’t very catchy and frankly, we have no idea how to proceed from here,” admitted Natasha Tan, Editor in Chief at OxStu. “Not to sound desperate, but it would be really nice if someone helped us out, and if you win you could probably feature this on your CV or something.”Entries can be submitted via this link. The competition will run until April 2nd 2021, 23:59.Cherwell would urge any concerned parties from OSPL or Oxford SU to check the date.last_img read more

The ‘last Renaissance man’

first_imgPlacing Thomas Jefferson in the intellectual life of his times may best be understood by quoting the third U.S. president himself on the character of the first, George Washington, according to an American historian:“His mind was great and powerful, without being of the very first order; his penetration strong, though not so acute as that of a Newton, Bacon, or Locke; and as far as he saw, no judgment was ever sounder.”“Thomas Jefferson has been called the last Renaissance man,” said Wilson J. Moses, the Ferree Professor of American History at Pennsylvania State University, as he kicked off “Mammoths, Meteors, and Mulattoes.” The Wednesday lecture was the second of three on “Thomas Jefferson and the Notion of Liberty,” part of the Nathan I. Huggins series sponsored by the W.E.B. Du Bois Institute for African and African American Research.“It’s been said Jefferson was the last man to engage with success all the knowledge of his time,” as a statesman and student of letters, language, architecture, religion, philosophy, mathematics, astronomy, and natural sciences, Moses said.He was also “certainly a character of flexible values, like Niccolò Machiavelli,” and has been unavoidably and problematically tied to racism. The man who wrote that “all men are created equal” owned hundreds of black men throughout his lifetime and compared them to orangutans in his only published book. But Jefferson also suggested that “there is a moral instinct and the black people are not lacking in this,” Moses said, and knew from Volney’s “Ruins of Empires” about the “race of men now rejected from society for their sable skin and frizzled hair [who] founded on the study of the Laws of nature, those civil and religious systems which still govern the universe.”A detailed record-keeper, Jefferson left notes of what he saw, read, and heard, though his papers offer little critical analysis — even of his political contemporaries, on whose ideas his commentary “was scanty and often superficial,” Wilson said. His reading tastes reflected a solid grounding in the classics. He enjoyed music, and would have known that “The Marriage of Figaro” was based on a play that dealt with institutionalized rape and that the text of “Don Giovanni” addressed the kind of sexual exploitation and class conflict familiar to him in Virginia.Jefferson’s mind was “brilliant and inquisitive” but lacked the military and financial acumen that contributed to Washington’s success, the practical knowledge of Frederick the Great, or the scientific expertise of Benjamin Franklin. Jefferson “is rightly praised for having overcome the isolation and provincialism of his early life,” Moses said. He was placed in a Latin school at the age of 9, and later developed close relationships with supportive professors. At 17 he met Patrick Henry, a rapid intellect accepted to the Virginia bar after only six weeks of study, and was both entranced and appalled by the older man.“I suspect Jefferson was always somewhat jealous of Patrick Henry,” Moses said. Henry’s brief, best-known phrases — “If this be treason, make the most of it” and “Give me liberty or give me death” — may have contributed as greatly to the philosophy of the American Revolution as Jefferson’s more thoughtful words.And although Jefferson became “the symbol for all ages as the author of the Declaration of Independence, regardless of how despotically he exercised his powers as the master in Virginia,” his contribution to the work may have lain more heavily in drafting than in theory.Moses said Jefferson’s only book, “Notes on the State of Virginia,” still commands respect, “although it reveals patterns of thinking more traditional than revolutionary,” like discomfort with the idea that species such as the North American mammoth could become extinct or that meteors could fall from the sky. Such questions, Moses said, did not conform to the Newtonian idea of an orderly universe.The Newtonians were also troubled by the relationship of nature to God. Moses said Jefferson rejected portions of the New Testament that were inconsistent with his own theories, but nonetheless believed in the deity and thought that only “a revolution of the wheel of fortune” had given white men control over Africans.“Indeed I tremble for my country when I reflect that God is just; that his justice cannot sleep forever,” Jefferson wrote.“Thomas Jefferson and the Notion of Liberty” concludes today with “Private Vice and Public Virtue” at 4 p.m. in the Thompson Room of the Barker Center, 12 Quincy St., Cambridge.last_img read more

Odds & Ends: This Is Us Star Chrissy Metz Set for Fat Pig Reading & More

first_imgChrissy Metz(Photo: Charley Gallay/Getty Images) View Comments Here’s a quick roundup of stories you may have missed today.Chrissy Metz Tapped for Fat Pig Benefit ReadingChrissy Metz, who received a Golden Globe nomination for her breakout performance in This Is Us, will headline a benefit reading of Neil LaBute’s Fat Pig for MCC Theater. The one-night-only event, which will feature a new ending from the playwright, is set for March 5 at the Lucille Lortel Theatre. Additional casting will be announced at a later date. MCC presented the world premiere of the play, about a young professional and a plus-sized librarian navigating their relationship amidst ostracization from their friends, in 2004.More Details for Supergirl / The Flash Musical EpisodesMark your calendars for singing superheroes. The previously announced two-part musical crossover between Supergirl and The Flash will premiere on March 20 and 21, respectively. The two series from The CW feature several musical theater and screen favorites who have been confirmed to lend their pipes, including its stars Melissa Benoist and Grant Gustin (both Glee alums), Jeremy Jordan, Jesse L. Martin, Victor Garber, Carlos Valdes and John Barrowman.Idina Menzel Still Wants to Be GreenBlazing supernova Idina Menzel and Crazy Ex-Girlfriend star Rachel Bloom stopped by the Watch What Happens Live Clubhouse on January 19 to chat with Andy Cohen. Conversation topics included the upcoming Beaches remake, stalking exes online and in coffee shops, and who Idina Menzel would cast as Elphaba in the Wicked movie. When Kristin Chenoweth stopped by in October, she said she’d love to see Beth Behrs take on the role of Glinda. But Menzel’s not ready to give up the green yet, (probably) joking that despite being told she’s too old, she’s still actively campaigning to defy gravity on the big screen. Watch her throw her own name in below.center_img Pinocchio Musical Set for U.K. PremiereHe’s got no strings holding him down. A stage adaptation of Pinocchio, featuring songs from the Disney animated film, is slated to hit the National Theatre stage this holiday season. The show, to be helmed by Harry Potter and the Cursed Child director John Tiffany, was first announced in 2015; at the time, the Disney Theatrical and National Theatre collaboration was eyeing a premiere around Christmas 2016. The Daily Mail now reports that Dennis Kelly, who won a Tony for writing the book of Matilda, has been brought on to pen the script, taking over for Once scribe Enda Walsh. An official announcement regarding the National Theatre’s 2017 programming is set for January 27.Complete Cast Set for London’s The Goat, or Who Is Sylvia?In more London news, the cast is now complete for the West End revival of Edward Albee’s The Goat, or Who Is Sylvia?. Joining the previously announced Damian Lewis and Sophie Okonedo will be Jason Hughes (BBC’s This Life) as Ross and newcomer Archie Madekwe as Billy. The Ian Rickson-helmed production will run from March 24 through June 24 at the Theatre Royal Haymarket. Opening night is set for April 5.last_img read more

Asia’s offshore wind capacity growth seen hitting 9GW annually by 2030

first_img FacebookTwitterLinkedInEmailPrint分享Asian Power:Annual offshore growth in Asia is expected to rise to 9 gigawatts a year in 2030 from 4GW, while around 5% of potential capacity is expected to be in place, Wood Mackenzie Asia Pacific Vice Chairman Gavin Thompson said in his APAC Energy Buzz blog.Almost 1,500GW of technical offshore wind potential, which offer enormous potential for Asia, have been identified mostly in China, Japan, Taiwan, South Korea, and Vietnam.Thompson notes that as power markets slowly liberalize across Northeast Asia, there will be growing commercial demand for renewables as costs continue to decline and governments seek to attract investment. However, he adds that much still needs to be done. Costs still need to come down by half if offshore wind is to be competitive with fossil fuels and increasing competition from other renewables, such as onshore wind and solar PV. In addition, ambitious offshore wind targets will be tough to meet without sustained government support.China remains as Asia’s largest offshore wind market, with the strongest pipeline of future projects. Some 38GW of new added offshore wind capacity is expected to come online in China by 2029.Thompson estimates the offshore turbine supply chain presents over $200 billion of opportunity in the next decade globally.More: Asia’s annual offshore growth to rise to 9GW in 2030 Asia’s offshore wind capacity growth seen hitting 9GW annually by 2030last_img read more

Smithtown Bowling Alley Roof Collapses Under Snow

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A Smithtown bowling alley roof partially collapsed under the weight of snow dumped by the blizzard this weekend.Suffolk County police officers responded to Smithtown Bowl on Landing Avenue after a 911 caller reported that the roof partially collapsed at 4:30 p.m. Saturday.There were no injuries and no one was in the building at the time. There was also a water leak due to the collapse, police said.The Town of Smithtown, Long Island Power Authority, Smithtown Fire Department and Suffolk County Water Authority officials responded to the scene.last_img read more

Osijek, Varaždin and Čakovec are interconnected directly by bus lines for the first time

first_imgThe fastest growing European start-up FlixBus connected domestic cities for the first time and thus began to create a green network within Croatia.So far, FlixBus has mainly connected cities internationally, but by connecting Osijek, Varaždin and Čakovec directly, it has taken the first steps in the development of the domestic bus network. Apart from being the first domestic FlixBus green line, it is also the first direct bus connection between these cities. FlixBus thus continues to merge larger and smaller medium-sized cities and makes them easily accessible for both business and tourism.˝By listening to the wishes of passengers and our internal research, we have noticed that this route has been in great demand for a simple and affordable connection for many years. Until now, these cities across the Podravska highway have been rather poorly interconnected or not at all. We believe that with this move, FlixBus will delight many travelers, primarily students, who, as far as we have learned, travel extensively between these two student cities.˝ said Dean Chebohin, Business Development Director for the FlixBus CEE region.European bus operator FlixBus, started as a start-up in 2013 and has since offered a new way of comfortable and green travel. otherwise, FlixBus has created the largest international network of lines across Europe with over 200.000 daily connections, through 26 European countries to 1.200 destinations. Also in addition to a large network, FlixBus has raised the bar of quality service throughout the market and passengers are provided with free Wi-Fi, sockets next to the seats, more space between seats, free luggage and the ability to change and cancel reservations up to 15 minutes before departure, online ticket purchase without waiting in lines at the box office as well as passenger identification only via QR code and smartphone.As domestic guests and consumption are very important for the development of continental tourism, and transport connections are one of the first prerequisites for development, it is now up to tourism workers to offer motives for coming to Slavonia and vice versa.last_img read more

Facebook moves set back civil rights: Audit

first_imgMust get better Facebook said the audit report points out its progress and shortcomings and makes it clear that more needs to be done.”This two-year journey has had a profound effect on the way we think about our impact on the world,” Facebook chief operating officer Sheryl Sandberg said of working with the auditors.”We have made real progress over the years, but this work is never finished and we know what a big responsibility Facebook has to get better at finding and removing hateful content,” she said.Facebook said it is putting some of the audit proposals into practice, and made “a commitment to hire a civil rights leader who will continue to push us on these issues internally,” according to Sandberg.The report comes a day after Sandberg and Facebook chief executive Mark Zuckerberg met with organizers of a Facebook ad boycott pressing for more aggressive action on hateful content and disinformation.The activists said they were disappointed and vowed to press on with their campaign which has grown to nearly 1,000 advertisers. ‘Reactive and piecemeal’ The report detailed steps the social network has taken to fight bigotry, election tampering and more, but contended that the efforts are inadequate.”Unfortunately, in our view Facebook’s approach to civil rights remains too reactive and piecemeal,” the report said.The report recommends that Facebook build a stronger civil rights infrastructure that includes experts on key topics such as elections and hate speech, with a full-time team working under a “civil rights vice president” at the California-based company.The report also calls for an interpretation of Facebook policy against voter suppression that prohibits content such as misleading Trump posts about the integrity of mail-in voting.”Facebook has made policy and enforcement choices that leave our election exposed to interference by the president and others who seek to use misinformation to sow confusion and suppress voting,” the report said.The report also advised Facebook to go beyond banning explicit references to white separatism and white nationalism to also prohibit them being praised, supported or represented at the social network.The audit led by former American Civil Liberties Union lawyer Laura Murphy was launched at the behest of civil rights organizations and members of Congress seeking to ensure that “civil rights laws and principles are respected, embraced, and robustly incorporated into the work at Facebook,” according to the report.The review covered a range of Facebook policies including workforce diversity, algorithmic bias, election and census interference and advertising practices. “These decisions exposed a major hole in Facebook’s understanding and application of civil rights….We believe civil rights expertise was not sought and applied to the degree it should have been and the resulting decisions were devastating.”The action could “establish terrible precedent for others to emulate,” the audit stated.In recent weeks, Facebook did appear to make some changes, in one case removing a Trump campaign ad using a Nazi symbol. The company also said it would tag posts from world leaders that violate its policies even if they remain accessible because they are “newsworthy.” Facebook has made a series of decisions that undermined civil rights, including allowing posts from President Donald Trump that violate the values of the leading social network, an independent audit report said Wednesday.The audit commissioned by Facebook in 2018 found the California giant had taken “important steps forward in building a long-term civil rights accountability structure” but “are not sufficient and should not be the end of Facebook’s progress.”Despite progress, “the auditors are concerned that those gains could be obscured by the vexing and heartbreaking decisions Facebook has made that represent significant setbacks for civil rights,” the 100-page report said.center_img The auditors expressed particular alarm at Facebook’s reluctance to take action on posts from Trump this year which “allowed the propagation of hate/violent speech” and “facilitated voter suppression.”Facebook’s inaction “seems to reflect a statement of values that protecting free expression is more important than other stated company values.”Facebook allowed the three posts from Trump in May to remain and “asserted that the posts did not violate its community standards,” the report said.The auditors “vigorously made known our disagreement,” and claimed they “clearly violated Facebook’s policies,” it added. Topics :last_img read more