Russian Prime Minister Dmitry Medvedev Visits Beijing

Russian and Chinese leadership signed a host of preliminary agreements yesterday covering everything from oil & gas, to nuclear power, finance, satellite navigation and high-speed rail. Russia has long been skeptical about cozying too close to China, which is both a huge market and potential business partner, but also a competitor and potential rival. It now appears western sanctions imposed as a result of Russian aggression in Ukraine has – at least for now – pushed Russia closer into China’s arms, and its wallet. [China Central Television]

Major oil price swings bring the arm-chair observers out in force, armed with theories that run the gamut from conspiracy to doomsday scenarios. These elaborate oil price movement explanations, however, often ignore the important role played by market forces, as Michael Lynch points out. “Instead, we are seeing yet another example of the adage, ‘The cure for high prices is high prices.’ [Forbes]

Former vice presidential candidate and potential 2016 presidential candidate Paul Ryan does not believe humans are playing a role in climate change and he said the costs of fighting it outweigh the benefits. [The Hill]