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Research suggests the two countries actually have similar feelings about wealth In China, the rich are looked down upon by just about everyone, at least according to years of reports from social media. In the early 2000s, the Chinese phrase Chow Fu Sing Lee (“Hate for the rich”) became one of the most popular search terms. The kids of the nouveau riche are their own derogatory name. FuerdaiFor years, deep-seated resentment towards the wealthy in China has been blamed for the vandalism of luxury cars, harassment of the wealthy and even public celebration at the deaths of certain wealthy individuals.…
Philanthropy Philanthropy Benjamin Priday·May 5, 2020 Texas A&M University problem: Charitable giving is an important part of the economy and a key decision for households. In 2018, individuals in the United States donated $292 billion to charities, which represents about 1.4% of GDP. Households with incomes of more than $2 million (0.1% of the population) contributed about 30% of all household giving in 2016. However, while the wealthy are often characterized as less generous or compassionate, there is little systematic or reliable evidence to support this. Understanding the relationship between income, wealth, and charitable giving has important implications for policies…
Oil production cuts by OPEC and other countries have helped calm the market, but the US needs more oil suppliesEven in the best of times, the energy industry is constantly plagued by price fluctuations. However, in my 45 years in the oil and gas business, I have never seen the confluence of unfavorable market factors we see today. The COVID-19 pandemic posed a serious health threat and destroyed global energy demand, which was subsequently exacerbated by a market share battle between Saudi Arabia and Russia.For U.S. energy producers caught in the crossfire, last week's efforts by the Organization of the…
Climate Crisis newsletter subscribers received this article in their inbox. Sign up to receive future deliveries.It’s hard to be angry at the virus, but it’s easy to be enraged at people and organizations who ignore the threat it poses in pursuit of profits. Last week, I wrote about the planned resumption of construction of the Keystone XL oil pipeline, and how in the process, it will put the health of Native Americans at risk by sending workers from across the country to remote rural areas. (I didn’t know then that JPMorgan Chase, the world’s largest fossil fuel lender, had issued…
The coronavirus pandemic and the price war between Russia and Saudi Arabia are dealing a double blow to the fortunes of top energy billionaires. CBetween an oil price war and a massive economic shutdown caused by the coronavirus, the world's energy billionaires took a big hit in 2020. The world's 10 richest energy billionaires, whose wealth comes from fossil fuels, renewable energy and utilities, are collectively $41.2 billion poorer than they were in 2019. Of the 2,095 members of the 2020 World Rich List, only 80 have derived their wealth. Wealth from energy decreased from 84 in 2019 and 90…
Mozir oil refinery in Belarus (Source: MSN) Belarus continues to scramble for alternative sources of oil, two months after traditional Russian suppliers stopped deliveries through the Druzhba pipeline (see EDM, January 22 and February 13). The five suppliers that for years supplied 90 percent of Belarus' oil stopped exports on January 1. Since then, Belarus' state oil company Belneftokhim has signed purchase agreements with Azerbaijani and Norwegian companies, as well as non-traditional Russian suppliers, to try to make up for the loss of 18 million tons of crude oil per year. Azerbaijan's state oil company SOCAR has already agreed…
How did we do this? Pew Research Center has been conducting extensive research on the public's attitudes toward the economy, including opinions on economic inequality. As part of this research, we conducted this survey to better understand Americans' views on the factors behind why some people are richer or poorer. We also wanted to know if attitudes had changed since September 2018. For this analysis, we surveyed 12,638 U.S. adults in January 2020. All survey participants are members of Pew Research Center's American Trends Panel (ATP). The ATP is an online survey panel randomly drawn from addresses across the country.…
Cary, North Carolina, February 25, 2020 /PRNewswire/ — Fathom Realty announced today Wendy ForsythThe well-known industry executive has taken on an expanded role as the company's first chief executive. Brand Officer (CBO). Mr. Forsyth will be responsible for marketing, industry relations and mergers and acquisition initiatives for Fathom Realty and its portfolio of Fathom Holdings companies, including the company's proprietary technology platform, IntelliAgent. Wendy Forsyth “Forsyth began consulting with us in 2019 and immediately delivered value. His track record of growing real estate brands and his vision for the future of the industry were skills we recognized immediately,” Forsyth said.…
February 22, 2020by Sophia Ahmadi and Anne Calandre, Feature CorrespondentWhy are the rich heartless?According to author Christopher Ryan, wealthy people tend to distance themselves from others because of the gap in their wealth.The common perception about the wealthy is that the more money they have, the more ruthless they are. While there are always exceptions to this trend, research shows that being wealthy can certainly affect our emotional and psychological consciousness in complex ways. Christopher Ryan, author of Civilized to Death: The Price of Progress, says that wealth inequality – the difference in wealth between the wealthy and those around…
Who are the richest oil and gas billionaires around the world? Offshore-technology.com has released a list of the top 10. Charles & David Koch, USA Charles Koch, CEO of Koch Industries, and his brother executive vice president David Koch, of Koch Industries have an estimated net worth of $40.6bn each, making them the richest Oil & Gas billionaires and the world’s sixth richest overall. The Koch brothers together hold 84% stake in Koch Industries whose oil and gas business subsidiaries include the Flint Hills Resources, which operates refineries in Alaska, Minnesota and Texas. Koch Pipeline Company owns or operates about…