Stanford National News

[Heimar]

STANFORD NATIONAL NEWS | SoVEx stocks continue nearly year long decline as crude oil revenues continue to fall. | Council Finances Committee de-funds and cancels remaining LOKI satellites. | President Luftberg announces her plan to pursue agreements with Aurora. |with Aurora. |

[Heimar]

Economic Struggles Continue in Wahland
by: Elias Dahlman, Economic Analyst
Stanford, Wahland - The High Council remains gridlocked today as President Luftberg is attempting to push a bill through that will provide much needed bailout packages for Wahland's largest oil companies. The bill would grant ten of Wahland's largest companies subsidies and grants to research and develop alternative energy technologies and resources. The grants will total nearly $3 billion, and it is hoped that the package will spur reinvestment and create thousands of new jobs. The package is still being stalled as conservatives continue their hesitance to divert funds to the companies, who they say have become "too big to fail", fearing it will only reinforce the heavy reliance on the extraction industry.

In order to fund the package the Council Finance Committee de-funded the LOKI project, ending production of the satellites indefinitely. The plan would still keep the five currently operational satellites but would decrease their maintenance budget, which conservatives claim will harm the countries national security situation. The opposition claims that the LOKI project has already had too many delays and set backs, which would only cause more economic harm. The LOKI program began in 2012, and was estimated to cost over $100 billion, and would produce twelve satellites by 2019. The program has had several setbacks with each new satellite, including budget issues and production delays resulting from a multitude of technical and engineering issues, nearly doubling the original planned budget.

President Wahl has also announced she plans to have several meetings with Auroran officials to work out an agreement with Aurora to place export limits on Auroran crude oil and other extractives. She has not released the details of her proposed agreement but many speculate it may involve extraction technologies and a draw-down of Wahlsh navy patrols near the Auroran coast, which have continued since early 2016. This would be the first open diplomatic communication between Wahland and Aurora since the naval stand off in the Nevthronian Gulf in late 2015.

[Heimar]

Wahland's Credit Rating Downgraded, SoVEx stocks drop dramatically, Luftberg holds closed door meeting with Auroran officials.
by: Elias Dahlman, Economic Analyst
STANFORD, WAHLAND - Wahland's national credit rating was downgraded this morning from AA- to a B, causing further financial stress on the already fracturing Wahlsh economy. In a detailed report by Heimarn creditor Neuberg Financial Co., Wahland's credit was downgraded following the failure of President Luftbergs failed attempt to push her energy reform bill through the council, and Wahland's seeming inability to push toward green renewable energy. The country has been locked in a near constant state of gridlock as councilmen continue to debate the best solution for economic recovery.

Shortly after the release of the report, SoVEx stocks dropped nearly 15%, the worst fall since the beginning of the crisis. In a statement released by CEO Alexander Luftberg, he encouraged investors not to panic saying, "We here at SoVEx are confident that a solution is near, and we encourage stockholders and investors not to panic, Wahland and her people are tenacious and we will see through this crisis. SoVEx has some of the best and brightest minds hard at work researching alternative energy sources that could help move Whaland into the future." He later released details of research being done on energy alternatives that could push the oil giants into the green energy market.

late last week President Luftberg had a closed door meeting with several Auroran officials including Prince William. Only days after the failed energy reform bill, many believe Luftberg has given up trying to push legislation through the gridlocked council and instead is turning to negotiations with Aurora instead. Several hardliner conservatives have said she is turning her back on her people and working with the enemy, while liberals are praising her attempt at a diplomatic solution. It is unclear what the result of the talks were, however, the Auroran delegation left in a hurry without answering any questions, and the blockade still remains in the strait.