Rhode Island's state pension fund may soon pull its money out of Luxor Capital Partners. Cliffwater told the Employees' Retirement System of Rhode Island (ERSRI) to pull $35 million out of Luxor as the hedge fund continues to mount losses. Cliffwater’s Thomas Lynch says that Luxor isn’t as good of a stock picker as advertised.
President Obama never had any intention of approving the Keystone Pipeline. In a cruel manner he kept TransCanada waiting for a decision regarding the pipeline as he stalled, lacking the courage to be honest and kill the pipeline--all because he feared a negative political backlash from unions and the American people, all of whom supported the building of the pipeline.
Crude oil prices rise as geo-political risks and weather risks come back into play. This comes as the man who wrote the history of oil, Daniel Yergin, says that oil is near a historical bottom and the Obama Administration continues to play cruel games with TransCanada Corp. and the approval of the Keystone Pipeline.