Bay Area

Peace Be Still Markets In Turmoil

Published

5 years ago

March 18, 2020

On March 16, 2020, the Dow Jones Industrial Average recorded its worst lost since 1987.

According to CNN, “US stocks ended sharply lower on Monday, with the Dow posting its worst point drop in history and falling to its lowest level in nearly three years. Worries mounted that central banks’ emergency measures over the weekend meant the economy is in much worse shape than previously believed.”

In 1987 we had the failure of the Savings and Loan industry where 1,043 out of 3,234 Savings and Loans associations collapsed. During this time, I worked for American Savings and Loan Association. Going back to the days of Charles Knapp, and Charles H. Keating, Sr., the Savings and Loan industry rocked the NYSE to its knees and triggered an economic environment that dismantled the Savings and Loan industry.

In 1987, the S & L debacle was a man-made disaster. This time is different because this is a biohazard, which makes the market collapse much worse as this is not about financial corruption, an issue that can be contained with regulations and legislation, such as the Dodd-Frank Wall Street Act.

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a massive piece of financial reform legislation passed during the Obama administration in 2010 as a response to the financial crisis of 2008. What is of noteworthy importance is that President Trump sought to repeal measures of the act. Dodd-Frank was designed to protect consumers.

Trump with his penchant for dismantling established organizations exacerbated the current pandemic in that Trump and John Bolton, then head of the National Security Council, dismantled the White House’s National Security Council Directorate for Global Health Security and Biodefense, the team in charge of pandemic response, firing Tom Bossert, head of homeland security, and disbanding the team in the spring of 2018. Cuts in the budget for the Centers for Disease Control and Prevention (CDC) made it clear that the Trump administration didn’t deem the federal government’s ability to respond to disease outbreaks important.

So, when a virus comes to town and rocks your financial markets, we need community resolution, as thus far, we cannot depend on the federal government.

I have a word for my millennials, “Don’t be labeled a consumer, be labeled an investor.” Today, the market is acting like “Boyz In The Hood.” Don’t let the white shirts fool you, and don’t let the gentile language lull you to sleep. Save and invest your money.

Learn about the stock market and get a grip on your emotions. I remember once a young lady said to me, “I want to open an account with you, and I want my first purchase to be Jamba Juice, because I like it.” An investment must transcend beyond your emotions. It must drift into the layer of technical and fundamental analysis; that’s a future discussion.

If you have any questions or comments, please feel free to contact Curtis O. Robinson, Sr. at, pastorcurt@thefaithbcofoakland.org.

Curtis O. Robinson, Sr.

Posts by Curtis O. Robinson, Sr.

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Oakland Post: Week of May 28 – June 30, 2025

The printed Weekly Edition of the Oakland Post: Week of May 28 – June 3, 2025

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7 days ago

May 30, 2025

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Oakland Post: Week of May 21 – 27, 2025

The printed Weekly Edition of the Oakland Post: Week of May 21 – 27, 2025

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2 weeks ago

May 25, 2025

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Chevron Richmond Installs Baker Hughes Flare.IQ, Real-time Flare Monitoring, Control and Reduction System

While the sight of flaring can cause concern in the community, flares are essential safety systems that burn pollutants to prevent them from being released directly into the atmosphere. They activate during startup and shut-down of facility units or during upsets or equipment malfunctions. The typical flare stack is about 200 feet high so that vapors are well above street levels.

Published

3 weeks ago

May 19, 2025

Oakland Post

Image courtesy The Richmond Standard.

The Richmond Standard

Chevron Richmond recently installed flare.IQ, a real-time, automated system that will improve the facility’s flaring performance.

The technology, developed by Panametrics, a Baker Hughes business, uses sensors to monitor, reduce and control flaring in real time. It collects and assesses data on refinery processes, such as temperature, pressure, gas flow and gas composition, and adjusts accordingly to ensure flares burn more efficiently and cleanly, leading to fewer emissions.

“The cleaner the flare, the brighter the flame can look,” said Duy Nguyen, a Chevron Richmond flaring specialist. “If you see a brighter flame than usual on a flare, that actually means flare.IQ is operating as intended.”

“A key element in Baker Hughes’ emissions abatement portfolio, flare.IQ has a proven track record in optimizing flare operations and significantly reducing emissions,” said Colin Hehir, vice president of Panametrics, a Baker Hughes business. “By partnering with Chevron Richmond, one of the first operators in North America to adopt flare.IQ, we are looking forward to enhancing the plant’s flaring operations.”

The installation of flare.IQ is part of a broader and ongoing effort by Chevron Richmond to improve flare performance, particularly in response to increased events after the new, more efficient hydrogen plant was brought online in 2019.

Since then, the company has invested $25 million — and counting — into flare minimization. As part of the effort, a multidisciplinary refinery team was formed to find and implement ways to improve operational reliability and ultimately reduce flaring. Operators and other employees involved in management of flares and flare gas recovery systems undergo new training.

“It is important to me that the community knows we are working hard to lower emissions and improve our flaring performance,” Nguyen said.

Also evolving is the process by which community members are notified of flaring incidents. The Community Warning System (CWS), operated by Contra Costa County is an “all-hazard” public warning system.

Residents can opt-in to receive alerts via text, e-mail and landline. The CWS was recently expanded to enable residents to receive notifications for “Level 1” incidents, which are considered informational as they do not require any community action.

For more information related to these topics, check out the resources included on the Chevron Richmond, CAER and Contra Costa Health websites. Residents are also encouraged to follow @chevronrichmond and @RFDCAOnline on Facebook and X (formerly Twitter), where additional information may be posted during an incident.