Business: Royal Caribbean cruises, oil and gas trouble

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Photo credit Getty Images

The World Trade Organization says the global services trade recovery lags behind goods trade and is expected to remain challenged as new lockdown measures are put in place. The WTO says "unlike goods, services cannot be stockpiled, which means that despite pent-up demand, many of the revenue losses from cancelled flights, holidays abroad, restaurant meals, and cultural/recreational activities are likely to be permanent.”

Pres.
Biden is set to announce a moratorium on new oil and gas leasing on U.S.
lands and waters, as his administration moves quickly to reverse Trump administration policies on energy and the environment and address climate change. The move follows a 60-day suspension of new drilling permits for U.S. lands and waters announced last week.

Royal Caribbean is trying to encourage bookings by extending a program that allows travelers to cancel their trips up to 48-hours before departure. Cruisers can receive a 100% Future Cruise Credit.