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JUNEAU, Alaska — The U.S. Bureau of Land Management plans to hold an oil and gas lease sale for land in Alaska’s Arctic National Wildlife Refuge next month. Meanwhile, banks around the world are publicly saying they will not finance oil and gas development in the Arctic.The land agency says it plans to hold a lease sale on Jan. 6. It comes just weeks before President-elect Joe Biden is set to take office, and he has said he opposes drilling in that region.The refuge is home to migrating caribou, polar bears and other wildlife."Congress directed us to hold lease sales in the ANWR Coastal Plain, and we have taken a significant step in announcing the first sale in advance of the December 2021 deadline set by law," said a statement Thursday from Chad Padgett, the Alaska state director for the Bureau of Land Management.In 2017, the Republican-led Congress approved legislation to open up the coastal Arctic National Wildlife Refuge for oil development. The measure required two lease sales within seven years, with the first sale no later than the end of 2021.Conservation groups criticized news of the sale as rushed and based on environmental reviews that are currently being challenged in court as flawed. Conservation groups, the Indigenous Gwich'in people, and a coalition of 15 states have filed lawsuits challenging the environmental reviews.Alaska politicians say opening the area for exploration would boost oil production, create jobs and generate royalties.However, even if a lease sale is held, there are questions about which companies could afford to drill in the refuge.Just this week, Bank of America said they are ruling out financing for oil and gas development in the Arctic, including in the Arctic National Wildlife Refuge. They are the latest U.S. bank to publicly commit to not financing oil and gas development in the region.“There’s been misunderstanding around our position, but we have not historically participated in project finance for oil and gas exploration in the Arctic,” Larry Di Rita, the bank’s head of public policy and strategy in Washington, told Bloomberg.“But given that misinterpretation, we’ve determined that it’s time to codify our existing practice into policy.”Bank of America joins Goldman Sachs, JPMorgan Chase, Wells Fargo, Citi and Morgan Stanley and nearly 30 major banks from around the world have committed to not fund oil and gas development in the Arctic. 2427

Jamie died today. We’re heartbroken. He lived a beautiful, impactful life & was loved by many. He will be deeply missed. As his wife of 32 yrs, I’m most grateful for the two spectacular children we raised together. I don’t know what we would’ve done w/o them over the past 2yrs. pic.twitter.com/ynDN2jSZ04— kyle redford (@kyleredford) October 16, 2020 363

KANSAS CITY, Missouri — The wife of a Chinese missionary murdered in Kansas City earlier this week has shared her husband's story, saying he aimed to bring God's love to those in hopelessness and pain.Xingdong?Hao, 38, was killed Wednesday?when a man suspected of being high on PCP opened fire on a neighborhood street. Two others were also injured.Hao, who was known by Haodong or Stephen to friends, was in Kansas City to train as a missionary at the International House of Prayer.In a statement, his wife, Laura, described him as "a man marked by his love of good." She said he battled several near-death experiences, homelessness and a suicide attempt before devoting his life to others. Read her full statement below: 735

Just over 1 million people filed new jobless claims last week, according to the U.S. Department of Labor’s latest report released Thursday. Another 14.5 million people filed continuing claims, leaving unemployment in the U.S. still startlingly high.Amid high unemployment across the country, a new report is showing executive compensation is growing as CEOs continue to cut millions of jobs.“We find that a CEO now earns about 320 times that of a typical worker in their main industry,” said Lawrence Mishel, a labor economist and distinguished fellow at the Economic Policy Institute, an independent think tank in Washington D.C.Mishel just authored a report analyzing CEO compensation. That report shows how in March and April when some CEOs were reported to have cut their salaries during the economic downturn, it wasn’t as big of a sacrifice as it seemed.“Salaries make up about 5 percent of CEO compensation packages,” explained Mishel. “And it seems like when CEOs say they are making a sacrifice, it’s really, I think, is better for press releases than in that they are actually going to take a cut in their standard of living.”The report shows how CEO compensation growth is affecting workers everywhere.“If you look at CEO compensation since, back over the last four decades since 1978, CEO compensation grew 1,167 percent,” said Mishel. “The compensation of a typical worker grew 13 to 14 percent over that period.”The report shows CEO compensation increased by 14 percent just last year and is set to continue to go up this year, even in a recession with companies having to let go of millions of workers.“The wages of the vast majority, the bottom 90 percent, has grown only half as fast as it otherwise would have had the top 1 percent not really expanded like it did,” Mishel explained.Essentially the “profit pie” has not grown proportionate to CEO compensation growth. So, as CEOs are getting significantly higher compensation, it is taking from the pay other workers.“I think this is a problem of corporate governance and our tax policies, and it needs to be addressed,” said Mishel.Proposed solutions include capping CEO compensation and taxing anything above the cap. EPI also suggests allowing shareholders and company workers to directly have a say in their CEOs' pay. However, both solutions are as controversial as the problem. 2359

Just weeks away from the New Year, economists and other experts are reflecting on the trajectory of our economic recovery. At the start of the pandemic, nine months ago, most experts were optimistic and agreed that the U.S. had a strong shot at seeing a fast V-shaped recovery.“We can turn this around this year. I still think there’s real hope for that,” Todd McCracken, with the Small Business Association, said in March.Even with some required government shutdowns, most experts believed the U.S. would most likely see a U-shaped recovery. That means things would pick up a little slower, but it would still be considered a relatively fast rebound.“There was also the L, which meant we were going to go down to the bottom and no one knew where we were going to go, and then there was the W, which meant we were going to go down and then we were going to come up, and actually, that is pretty much what is happening,” said Jonathan Drapkin, president and CEO of the Hudson Valley Pattern for Progress.Drapkin pointed out the other and more dreaded “W” or “L” scenarios experts feared back in March appear to be more in line with what the U.S. is actually experiencing now.“It’s definitely more of an L, said Elise Gould, an economist with the Economic Policy Institute.“Personally, I think any hope for a quick recovery has gone by the wayside. Over the last few months, we have actually seen the recovery slow. So, last month, we saw that we had a gain of 245,000 jobs, much lower than a month before that, lower than a month before that. And so, at this rate, we could be years away from a full recovery.”According to Bankrate senior economist Mark Hamrick, we could also be seeing both a swift recovery and a worsening one, simultaneously.“My sense for many months now has been that this has been a so-called K-shape recovery,” said Hamrick. “Why do we call it a K? Essentially, we have one leg moving up and the other moving down [and] that is indicative of this have and have-not economy.”Hamrick supported that idea and recovery trajectory by pointing out that unemployment levels for higher-income workers are back to pre-recession levels, while lower-income workers are still struggling with elevated levels of unemployment“My concern is that people who have been hurt by this economic downturn are not going to heal from this quickly,” explained Hamrick.However, while experts seem conflicted over what economic recovery pattern we are actually seeing now, all of them agree on one thing: the most successful way out of the alphabet soup of economic recovery paths and to normalcy is with a discovered vaccine and wide distribution of it.“The other thing that can truly help in the short-term is a stimulus package out of Washington,” added Drapkin. 2768