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What did you think of President Trump reading lists of heads of US companies for over 10 minutes in a prime time news briefing? Were you embarrassed for him?

HahahahaIt was part of another half-baked bungle that reinforced America's suspicion that Donald Trump is an incompetent fool.Here's what happened.Reality show wannabe Trump spent days hyping White House economic task force focused on reopening the economy, He promised a big announcement.But the when Jared and Ivanka started sending out notices to major American corporations … all they heard back was chirping crickets.To save face, the “Great American Economic Revival Industry Groups” suddenly became a “conference call” set for 15 April. Nobody out of 200 US companies would touch Trump's aborted fetus ... except to pretend to participate in a telephone call. Another pure and simple Trump fuck up.But on 14 April, President Donald Trump read off a list of names who would do the conference call.Donald J. Trump:“Now, we have a list of people that I'll be speaking to over the next very short period of time - in many cases, tomorrow. … But we have a list of different industries that I'll be discussing by - meeting by telephone, because we don't want people traveling right now: the American Farm Bureau Federation - Zippy Duvall, Cisco Systems, Tyson Foods, Perdue Farms, Cargill, Archer Daniels Midland Company, Corteva, Tractor Supply Company, Seaboard Corporation, Grimmway Farms, Mountaire Farms, and others in the agricultural business in banking, it's: Bank of America - Brian Moynihan has been great; JPMorgan Chase, Jamie Dimon; Goldman Sachs; Citigroup; Wells Fargo; U.S. Bancorp; Morgan Stanley, James Gorman; Grand Rapids State Bank; Southern Bancorp - all great institutions with lots to say and lots of good ideas. The construction labor workforce International Union of Operating Engineers, Jim Callahan; North America Building Trades Union, Sean McGarvey. These are a lot of friends of mine. The Laborers' International Union of North America, Terry O'Sullivan; International Brotherhood of Teamsters, James Hoffa; National Electrical Contractors Association, David Long; Bechtel; Fluor; National Association of Homebuilders; Association of Builders and Contractors; Associated General Contractors; Richard Trumka, AFL-CIO; G.H. Palmer. So these are some of the unions - pretty much almost all of the ones that will be on the line. In defense, we have: Lockheed Martin, Honeywell, Northrop Grumman. These are all the top of each company - CEOs, chairmans, presidents. Raytheon, General Dynamics. The construction labor workforce. But we were involved in getting that done, and it was very important. We're going to save hundreds of thousands of jobs for our energy industry - Texas and North Dakota, Oklahoma, all of our different energy states. It's great. So we're very happy about it. I want to thank everybody. We had the - it's called OPEC Plus. That's OPEC Plus, meaning some nations outside of OPEC..On the energy front, we had: Exxon Mobil, Continental Resources, Chevron, Southern Company, Alabama Power, ConocoPhillips, Occidental Petroleum, Kinder Morgan; Hess Corporation, Pearl Group, and a few others. Big ones. Great ones. Financial services, we have: Blackstone, Stephen Schwarzman; Paulson & Company, John Paulson; Citadel, Ken Griffin; Elliott Management, Paul Singer; Vista Equity Partners, Robert Smith; Fidelity Investments, Abigail Johnson; MasterCard; Visa; Chubb; Sequoia; Stephens, Warren Stevens - great; Charles Schwab, Chuck Schwab, who will be here by phone. Food and beverage. National Restaurant Association; McDonald's; Darden Restaurants; Coca-Cola; Pepsi Cola; Chick-fil-A; Subway; Bloomin' Brands; Yum! Brands; Papa John's; Wendy's; Waffle House; Starbucks; Wolfgang Puck; Thomas Keller; Jean-Georges, my friend Jean-Georges; and Daniele. You know them. FedEx, Fred Smith; Allegiant; United Airlines, Oscar Munoz; UPS, David Abney; J.B. Hunt; YRC Worldwide; Crowley Maritime - incredible, big, powerful shippers and transportation companies In telecommunications, we have: the legendary John Malone of Liberty Media; Verizon; T-Mobile; Charter Communications; and Brian Roberts of Comcast. Thank you all very much. Healthcare. New York Presbyterian, Jerry Speyer - a friend of mine; HCA Healthcare, Sam Hazen. Thank you, Sam. Just met with Sam. Ascension Health, CommonSpirit Health, Community Health Systems, Trinity Health, Cardinal Health, McKesson, 3M. Thank you, Mike Roman, for helping us with face masks. It worked out well for everybody. Procter and Gamble, Abbott Laboratories, Johnson & Johnson, Merck, Pfizer, Eli Lilly, Thermo Fisher Scientific - they've been helping us incredibly with testing. Gilead Sciences, AbbVie, Regeneron, Biogen, Roche - and Roche has been fantastic on testing, the job they've done. I have to call them out. They have really - they have stepped up like very few. Anthem; United Health Group; Aetna; Cigna; and Humana - all the big ones. The tech companies - we have the right ones: Apple, we have Tim Cook; Google, Sundar. Thank you, Sundar; Oracle, Larry Ellison and Safra Catz; Salesforce, Marc Benioff; SAP - SAP, Jen Morgan; Microsoft, Satya - great job he's done. Thank you, Satya. Facebook, Mark Zuckerberg; IBM; Intel; Qualcomm; Cisco; Advanced Micro Devices; Broadcom. Incredible companies. Companies that no other country will catch, if they're smart. They have to be smart. But I've dealt with a lot of different countries and I will say that no - the respect for Silicon Valley and our tech companies - there's nobody even close to our tech companies. They can't catch them. So they try and buy them, but we sort of put an end to a lot of that. In sports 9- we want to get our sports back, so importantly. These will be some separate calls. Some will be together, by the way - lists - and some will be separate. But we have to get our sports back. I'm tired of watching baseball games that are 14 years old. But I haven't actually had too much time to watch. I would say maybe I watch one batter and then I get back to work. The NBA - Adam Silver. The Major League Baseball - we miss our base- - well, this is baseball season right here. Rob Manfred, thank you very much. NFL - Roger Goodell. Thank you, Roger. UFC, Dana White. Great Dana White. PGA, Jay Monahan; LPGA, Michael Whan; USDA, Patrick Galbraith. Major League Soccer, Don Garber; WWE, the great Vince McMahon; NASCAR, Lesa Kennedy. Thank you, Lesa. NHL, Gary Bettman; from the New England Patriots, Bob Kraft; Dallas Cowboys, Jerry Jones; Dallas Mavericks, Mark Cuban. And some of the thought leaders that we're going to have - and there's some others that we are having; we're just waiting to hear. But everybody's saying yes, I must say. John Allison; Heritage Foundation, Kay Coles James - great person. Hoover Institute, Condoleezza Rice - another great person. Art Laffer; Steve Moore; Steve Forbes; Larry Lindsey; Katherine Reynolds; Scott Gottlieb - just spoke with Scott; Jim DeMint - and Jim has been a terrific friend; Bill Haggerty; and Ray Washburne. And religious leaders will be coming on Friday. We'll be speaking to - and we're going to have a separate list, but we have tremendous enthusiasm to meet by our great religious leaders. We have incredible people and they want to - they want to be a part. And we'll be talking about churches and we'll be talking about opening. And we'll be talking about things that are very important to a lot of people, including me. We're going to find out how we're doing in that regard. So those are the names that we have on our list. They're the names that are, I think, the best and the smartest, the brightest. And they're going to give us some ideas. But we're all set, as I said. The governors are going to be opening up their states. They're going to declare when - they're going to know when. Some can open very, very shortly - if not almost immediately. We'll give a date. But the date is going to be in the very near future.”GOOD LORD!Huh?The “conference call” was a complete failure by the way:companiesOnly about half on the list participatedUniformly, the executives told Trump they were not going to open without more testingThus, after the conference call, the ballyhooed “Great American Economic Revival Industry Groups.” was a one and done Trumpian wet firecracker.

What are the plans for oil companies after oil runs out?

Oil is not running out. It's getting harder to get at -- and therefore more expensive to extract -- but it's not running out.There certainly exists a set of circumstances where consumption of oil soars (think: tons of cars being sold in China and India) and production can only grow so quickly where oil gets even more scarce relative to demand and prices rise to levels that seem unfathomable today. Those circumstances are possible and, therefore, $500/barrel oil is possible. But let's not get ahead of ourselves.Why not? Because the persistence of $100/barrel oil has shown us what "peak oil" really looks like. And what it looks like isn't quite what the most Malthusian of forecasts had believed. What it looks like is this: When oil is expensive, sources of oil that were economically impossible to exploit -- think "tight oil" in North Dakota rock formations that is recovered much like natural gas is via hydraulic fracturing, think Canadian tar sands in Alberta, think deepwater drilling off the coast of Brazil -- become real or at least things to contemplate.And that's what oil companies and oil entrepreneurs are doing right now.In the meantime, some oil companies are directly hedging their bets with investments in biofuels -- from Exxon Mobil's investments in algae-based fuels, to Royal Dutch Shell's investments in Brazilian ethanol to countless others (Source: http://www.businessweek.com/articles/2012-05-10/big-oils-big-in-biofuels). Realistically, this is good business. Some biofuels are getting cheaper to produce as processes scale. Some, like cellulosic ethanol, might realistically be $2/gallon if techniques to make them by the billions of gallons are ever mastered. There could come a time when biofuels are simply less expensive than drilling in thousands of feet of ocean hundreds of miles from Sao Paolo.Of course, it's also possible that liquid fuels will increasingly play a smaller role in the world over time. Today, liquid fuels are almost exclusively used for transportation, not power generation. They are fantastic for this because of how much energy their store, especially versus battery. If, however, battery energy density were to improve by a factor of 5-10, that would no longer be true. And even if such a breakthrough never materializes (many believe it will, but it would be a breakthrough, not just incremental improvements, which are likely to improve batteries by only about 2-3x over the next 20 years), vehicles like the Volt are showing a path to much less liquid fuel use even with relatively small batteries. Today's Volt drivers use gas only about 1/3 of the time, for example, despite having just 35 miles of battery range. It's also worth noting that more efficient vehicles, airplanes, etc. will be using less gasoline in the coming years.If oil companies don't adapt to produce biofuels or if liquid fuels become less important, oil companies will become less important over time. No one should find this shocking or especially alarming. Industries come and go all the time -- railroads, airlines, telephone companies, television broadcasters, newspapers, defense contractors, typewriter makers, personal computer makers, photocopier makers, etc. etc.Of course, while I'm personally of the opinion we are at the cusp of a macro trend where global demand for oil drops significantly over the next 20 years and precipitously over the next 40 years, it's quite possible that said demand will stay fairly level or rise. Much depends on the shifting political winds, the global economy, the possibility of new discoveries of easier-to-extract oil, etc. In the meantime, I wouldn't lose much sleep over the oil companies.

When were pay phones ten cents?

It depended on the state and the telephone company. Southern Bell Telephone Co. in the state of Louisiana had five cent pay phones until 1978, when they were raised to ten cents. At the end of 1981, 28 states still had a ten cent local call rate.A 1978 New York Times article[1] mentions that two small places, one in Ohio and the other in Oklahoma, had five cent pay phones, even through most of the rest of the country had switched to ten cents. The Ohio company mentioned that they had no plans to raise rates, as their customers liked the five cent rates.In December 1981, a Washington Post article[2] mentioned that telephone companies across the country were pushing for a consistent 25¢ rate.A dime in New Orleans. Fifteen cents in the District of Columbia and suburban Maryland. Twenty cents in Northern Virginia. And a quarter in Miami, Houston and Cincinnati.The 10-cent coin charge is still in effect in 28 states. Five others have 15-cent rates -- besides D.C. and Maryland, they are Nevada, North Dakota and Oklahoma. States that have 20-cent charges are Virginia, Arizona, Colorado, Delaware, Indiana, Maine, Michigan, New Mexico, North Carolina, Ohio, Vermont and Wyoming.New York Telephone Co raised rates from ten cents to 25¢ in 1984. Many of the 28 states mentioned above followed suit and raised their rates as the 80s progressed.Footnotes[1] Five‐Cent Phoize Calls Ending in Louisiana[2] https://www.washingtonpost.com/archive/local/1981/12/14/bell-pushes-25-cents-as-nationwide-pay-phone-rate/4f7219ce-b1be-415f-a88f-0f219f3d23e8/?utm_term=.58be1c4d1604

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