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20080710

John Cowdery

Kott

Kohring

Weyhrauch

Oil

Money

Politics

VECO

Federal

Crimes

Alaska

"Cowdery indicted on two corruption charges." ... "The federal indictment filed today against state [Alaska state Republican Senator] Sen. John Cowdery revolves around the oil tax legislation pushed so hard by Veco Corp. [Corporation] and its executives in 2006." ... "The Anchorage Republican is charged with conspiracy and bribery, accused of scheming with Veco executives to win over another senator in the battle for the tax favored by North Slope oil producers." ... "According to the 16-page indictment, Cowdery and others conspired to give the other state senator $25,000, characterized as campaign contributions." ... "[Veco chief executive Bill] Allen and Veco vice president Rick Smith have pleaded guilty to bribing legislators, including Cowdery, to push through a version of an oil tax favored by North Slope producers." ... "Two former legislators, [Republican] Pete Kott of Eagle River [Alaska] and [Republican] Vic Kohring of Wasilla [Alaska], are serving federal prison sentences after being convicted of corruption charges related to the push for the tax. A third former legislator, [Republican] Bruce Weyhrauch of Juneau [Alaska's capital], was indicted too and is awaiting trial while courts consider an appeal on what evidence can be heard." -By Lisa Demer

-ADN.com

20080706

John McCain

Karl Rove

Money

Oil

Health Care

Iraq

Afghanistan

Military

Terrorism

2008 Election

Massachusetts

"Kerry: McCain's Judgment Is Dangerous." ... "[Massachusetts Democratic Senator] Sen. John Kerry believes that the presumptive Republican nominee for president is adhering to the [Republican President] Bush Administration orthodoxy in ways that call into question his carefully-nurtured image as a political maverick." ... ""John McCain has changed in profound and fundamental ways that I find personally really surprising, and frankly upsetting," the Democratic Senator from Massachusetts said on CBS' Face The Nation." ... ""This is a different John McCain. This is not the Senator John McCain; this is want-to-be president John McCain." ... ""And the result is that John McCain has flip-flopped on more issues than I was even ever accused possibly of thinking about! I mean, this is extraordinary what he's done: He's changed on taxes; he's now in favor of the Bush tax cut. If you like the Bush economy, if you like the Bush tax cut and what it's done to our economy, making wealthier people wealthier and the average middle class struggle harder, then John McCain is going to give you a third term of George Bush and Karl Rove." ... ""If you like what has happened to oil prices, John McCain is going to continue that policy. If you like what you see about health care, John McCain has no health care plan." ... ""I would have at least expected the John McCain that I knew back then to realize what almost every person in the Pentagon has admitted. There are very few who walk around and say, 'Going into Iraq was the right thing to do, and we should have done it, or do it again if I have the chance.' John McCain does." ... ""I'm challenging Senator McCain's judgment," Kerry said, "that says, 'There's no violent history between Sunni and Shia.' That's wrong. His judgment that says, 'This is going to increase the stability of the Middle East.' It hasn't, it's made it less stable. The judgment that says, quote, 'This will be the best thing for America and the world in a long time. It's the worst thing that we've done in a long time. And he's turned his [focus] away from Afghanistan and al Qaeda and made America less safe. That's dangerous for our country.""

-FaceTheNation -CBSNews

WATCH Kerry list McCain's Flip-Flops

20080616

Electricity

Market

Law

Enforcement

Texas

"Power firms’ treatment angers Texans." ... "Prices aren’t the only thing skyrocketing in the state’s deregulated electricity market." ... "Amid continuing company failures — and the resulting forced transfer of tens of thousands of ratepayers to default electric companies — Texans in growing numbers are griping about their ill treatment by power companies." ... "According to the Texas Public Utility Commission, complaints related to the electric market jumped from 704 in January to 1,123 in May. Complaints against three of the four recently failed electric companies jumped about 2,400 percent, from about 20 at the beginning of the year to 508 in May." ... "E-mails and phone calls also continue streaming into the Star-Telegram. Frustrated consumers tell stories of poor treatment by their regular electric competitors, confusing PUC rules, uninformed marketers and the near impossibility of obtaining reliable information about the financial status of companies seeking their business." ... "One company has collected payments from customers but not delivered any electricity, according to some complaints." -By R.A. Dyer

-Star-Telegram.com

20080613

Gordon Smith

Oil

Money

Auto

Makers

Oregon

Television

2008 Election

"Political ads try to tie Smith to gas prices." ... "An independent Democratic group launched two television ads today that try to tie [Oregon] Republican Senator Gordon Smith to skyrocketing gasoline prices." ... "Both contend that Smith has accepted huge contributions from oil companies and automakers, and that he had voted against higher fuel mileage standards while supporting tax breaks for oil companies."

-AP via KTVZ

WATCH Ad on Gordon Smith oil corporation "Billions"

WATCH Ad on Gordon Smith gasoline "Dollars"

20080611

Oil

Corporation

Government

Politicians

"Republicans Block Extra Taxes On Oil Companies." ... "Senate Republicans blocked a proposal Tuesday to tax the windfall profits of the largest oil companies, despite pleas by Democratic leaders to use the measure to address America's anger over $4 a gallon gasoline." ... "The Democratic energy package would have imposed a tax on any "unreasonable" profits of the five largest [United States] U.S. oil companies and given the federal government more power to address oil market speculation that the bill's supporters argue has added to the crude oil price surge." ... "The Democrats failed, 51-43, to get the 60 votes needed to overcome a GOP [GOP=Grand Old Party=Republican] filibuster and bring the energy package up for consideration." ... "The oil companies could have avoided the tax if they invested the money in alternative energy projects or refinery expansion. It also would have rescinded oil company tax breaks _ worth $17 billion over the next 10 years _ with the revenue to be used for tax incentives to producers of wind, solar and other alternative energy sources as well as for energy conservation." -By H. Josef Hebert

-AP via -HuffingtonPost.com

20080608

Barack Obama

John McCain

Hillary Clinton

2008 Election

North Carolina

Missouri

Montana

Virginia

Illinois

Arizona

New York

Economy

History

Gasoline

Unemployment

"Obama Maps a Nationwide Push in G.O.P. Strongholds." ... "[2008 Election Democratic Presidential Candidate and Illinois] Senator Barack Obama’s general election plan calls for broadening the electoral map by challenging [2008 Election Republican Presidential Candidate and Arizona] Senator John McCain in typically Republican states — from North Carolina to Missouri to Montana — as Mr. Obama seeks to take advantage of voter turnout operations built in nearly 50 states in the long Democratic nomination battle, aides said." ... "On Monday, Mr. Obama will travel to North Carolina — a state that has not voted for a Democratic presidential candidate in 32 years — to start a two-week tour of speeches, town hall forums and other appearances intended to highlight differences with Mr. McCain on the economy. From there, he heads to Missouri, which last voted for a Democrat in 1996. His first campaign swing after securing the Democratic presidential nomination last week was to Virginia, which last voted Democratic in 1964." ... "With [New York] Senator Hillary Rodham Clinton now having formally bowed out of the race and thrown her backing to him, Mr. Obama wants to define the faltering economy as the paramount issue facing the country, a task probably made easier by ever-rising gasoline prices and the sharp rise in unemployment the government reported on Friday." (1, 2) -By Adam Nagourney and Jeff Zeleny with contributions by Jim Rutenberg

-NYTimes

20080605

Mitch McConnell

James Inhofe

Gas

Emissions

Global

Climate

Environment

Nevada

Kentucky

Oklahoma

Law

"Republicans stall climate change bill to punish Reid." ... "When [Nevada Democratic Senator] Sen. Harry Reid rose to become the majority leader in 2007, many believed he had met his match in the Republicans’ new Senate leader, [Kentucky Republican Senator] Mitch McConnell of Kentucky." ... "Shrewd parliamentarians both, they brought the prospect of each trying to outsmart the other on the Senate floor, promising good viewing." ... "Those skills were on display Wednesday when McConnell brought the Senate to a standstill." ... "Just as the chamber was about to begin a feisty debate on the most sweeping effort yet to address climate change, McConnell shut down the Senate by forcing full reading of the 491-page bill." ... "Rather than hearing a spirited battle over carbon emissions, gas prices and new fees for polluters, one lonely clerk after another read page after page of minutia to a nearly empty chamber." ... "In his own statement, Reid said: “Republicans are yet again doing everything in their power to slow, stop and stall. These petty, partisan tactics waste the American people’s time, and ignoring the crisis of global warming endangers all of us.”" ... "By early evening, with a few remaining tourists in the gallery watching the nearly empty floor, Republican [Oklahoma Senator] Sen. James Inhofe of Oklahoma, the chamber’s leading global warming skeptic, sat in waiting, prepared to object should Democrats ask for the hours-long reading to end." -

LasVegasSun.com

20080516

John McCain - Money - Politics - Government - Myanmar - Military - Arizona- US- 2008 Election - "McCain axes energy advisor." ... "[2008 Election] Republican presidential contender John McCain on Thursday fired an energy policy advisor who lobbies the federal government on behalf of energy clients, citing a new policy that seeks to quash influence peddling." ... "''The campaign recently severed ties with Eric Burgeson due to a new campaign policy that prohibits any registered lobbyist from participating in any policy discussions on the subjects in which they work,'' said McCain spokesman Jeff Sadosky." ... "The policy was developed following the recent dismissals of two campaign aides whose lobbying firm represented the military junta that runs Myanmar, widely condemned for thwarting rescue efforts after a deadly cyclone." ... "McCain's former energy advisor joined the firm of Barbour Griffith & Rogers [lobbyist firm] in Washington in 2006 after serving as the chief of staff at the Department of Energy. Burgeson's energy clients include Southern Company, which operates electric utilities and nuclear-power plants in the Southeast." ... "''Eric leads the firm's energy practice utilizing his domestic and international energy policy expertise and network of policy decision makers,'' the firm's website states." -By Beth Reinhard -MiamiHerald

20080514

John McCain - Myanmar - Sudan - Oil - Corporation - Politics - Arizona - US - 2008 Election - "McCain On Wife's Sudan-Related Investment." ... "[2008 Election Republican Presidential Candidate John] McCain, whose wife has come under fire for refusing to disclose her tax return documents, fielded tough questions about her investment in a mutual fund that deals in Sudan, as well as about the resignation of two McCain aides over their involvement in lobbying deals with the Myanmar junta." ... "The Arizona senator said that he was not aware of his wife's investment in two mutual funds that include holdings in Oil & Natural Gas Corp. [Corporation], which in turn does business in the genocide-ridden African nation. " -By Carrie Dann -NationalJournal
John McCain - Sudan - China - India - Oil - Politics - International - US - 2008 Election - "McCain's wife sells Sudan investments." ... "The wife of [2008 Election] Republican presidential candidate John McCain, who has been a critic of the violence in Sudan, sold off more than $2 million in mutual funds whose holdings include companies that do business in the African nation." ... "The sale on Wednesday came after The Associated Press questioned Cindy McCain's investments in light of calls by her husband for international financial sanctions against the Sudanese leadership." ... "According to McCain's personal financial disclosure, Cindy McCain's investments include two mutual funds — American Funds Europacific Growth fund and American Funds Capital World Growth and Income fund — that are listed by the Sudan Divestment Task Force as targets for divestment." ... "Both funds have holdings in Oil & Natural Gas Corp. [Corporation], an India-based company that does business in Sudan. The American Funds Capital World Growth & Income Fund also has holdings in Petrochina, a Chinese government-owned oil company with vast investments in Sudan." -AP via -USATODAY

20080510

Barack Obama - John McCain - 2008 Election - Oregon - Energy - Technology - US - Iraq - Military - Health Care - "Obama eager to campaign with McCain." ... "Acting even more like he has clinched the Democratic presidential nomination, [2008 Election Democratic Presidential Candidate] Barack Obama said on Saturday he would be willing to campaign jointly with Republican [2008 Election Presidential Candidate] John McCain and acknowledged he needed to better introduce himself to Americans." ... "After a stop at a solar technology company in this central Oregon town [Bend, Oregon], Obama was asked if he supported a suggestion that he campaign with McCain and hold joint town hall meetings in the run-up to the November [2008] general election." ... ""I think that's a great idea. Obviously we'd have to think through the logistics on this," Obama said. "Should I be the nominee, if I have the opportunity to debate substantive issues before the voters with John McCain, that's something I'm going to welcome."" ... "Obama, who took a commanding lead in the Democratic race last week, said he looked forward to pointing out his differences with McCain, including views on the energy crisis, the Iraq war and health care." ... ""We haven't finished this primary yet so it's premature to start projecting how the general election's going to play out," he said at the news conference." (1, 2, 3) -By Deborah Charles wtih contributions by by Chris Baltimore and Todd Eastham -Reuters
John McCain - Burma [Myanmar] - Military - Money - Politics - DCI Group - Marketing - Human Rights - Oil - Arizona - US - 2008 Election - Saint Paul - Minn - "McCain's Convention Chair Worked for Burma's Military Junta." ... "John McCain's choice to manage the GOP convention this summer is lobbyist Doug Goodyear, whose firm once represented Burma's repressive regime." ... "After [2008 Election Republican Presidential Candidate] John McCain nailed down the Republican nomination in March, his campaign began wrestling with a sensitive personnel issue: who would manage this summer's GOP convention in St. Paul, Minn. [Minnesota]? The campaign recently tapped Doug Goodyear for the job, a veteran operative and Arizonan who was chosen for his "management experience and expertise," according to McCain press secretary Jill Hazelbaker. But some allies worry that Goodyear's selection could fuel perceptions that McCain—who has portrayed himself as a crusader against special interests—is surrounded by lobbyists. Goodyear is CEO of DCI Group, a consulting firm that earned $3 million last year lobbying for ExxonMobil [oil corporation], General Motors and other clients." ... "Potentially more problematic: the firm was paid $348,000 in 2002 to represent Burma's military junta, which had been strongly condemned by the State Department for its human-rights record and remains in power today. Justice Department lobbying records show DCI pushed to "begin a dialogue of political reconciliation" with the regime. It also led a PR [public relations] campaign to burnish the junta's image, drafting releases praising Burma's efforts to curb the drug trade and denouncing "falsehoods" by the [Republican President] Bush administration that the regime engaged in rape and other abuses. " -By Michael Isikoff -Newsweek

20080509

Oil - Government - New York - Missouri - US - Euro - History - "Oil Climbs Above $126 to Record as Dollar Weakens Against Euro." ... "Crude oil for June delivery rose $2.27, or 1.8 percent, to a record closing price of $125.96 a barrel at 2:55 p.m. on the New York Mercantile Exchange. The contract surged to $126.27 today, the highest since futures began trading in 1983. Prices are up 8.3 percent this week, the biggest weekly gain in more than a year. Futures have more than doubled in the past year." ... "The dollar fell 9.6 percent since Sept. 18, when the Federal Reserve began cutting rates to ease financial-market strains and stave off a recession. The U.S. [United States] central bank cut rates seven times while the ECB [European Central Bank] has left rates unchanged. The dollar fell 0.6 percent to $1.5483 per euro at 3:27 p.m. in New York." ... "``Fed policy is accommodating the rise in energy prices,'' said Bill O'Grady, director of fundamental futures research at Wachovia Securities in St. Louis [Missouri]. ``The Fed and federal government are putting more liquidity in people's pockets, which is being spent on expensive oil.''" ... "The U.S. government started sending $117 billion in tax rebate checks last week as part of its fiscal stimulus plan." ... "Heating oil for June delivery climbed 12.62 cents, or 3.6 percent, to close at a record $3.636 a gallon in New York." ... "Gasoline futures for June delivery rose 6.34 cents, or 2 percent, to $3.2012 a gallon in New York after reaching a record $3.2038 today." ... "Regular gasoline, averaged nationwide, rose 2.6 cents to a record $3.671 a gallon, AAA, the nation's largest motorist organization, said today." -By Mark Shenk -Bloomberg

20080508

Oil - Corporations - Air - Environment - Ground - Water - Safety - Health - Science - Politics - "Chevron, 11 Oil Companies to Pay $423 Million in MTBE Lawsuits." ... "Water suppliers in 17 states will collect $423 million from Chevron Corp. [Corporation], BP Plc [Public limited company] and 10 other oil companies as part of a settlement of contamination claims involving the gasoline additive MTBE." ... "The suits claim the oil companies contaminated wells and underground aquifers across the country by adding methyl tertiary butyl ether, or MTBE, to gasoline as a way to reduce air pollution. They claim the oil companies hid information showing MTBE would cause ``massive'' contamination." ... "The settlement was filed yesterday with U.S. District Judge Shira Scheindlin in New York, who is presiding over the 59 settled lawsuits brought by 153 municipalities. The six oil companies and refineries that didn't settle include Exxon Mobil Corp. [Corporation], the world's biggest publicly traded oil company, according to Robert Gordon, a lawyer for the plaintiffs." ... "The municipalities ``will use the money to continue to treat water so that it is safe and pure,'' Gordon said in a phone interview." ... "MTBE reduces air pollution by making gasoline burn more completely in a car's engine. MTBE discharged into the air contaminates groundwater through rainfall. The additive has been banned in many states." ... "Estimates of the cost to treat contaminated water in the U.S. have reached $30 billion." ... "Scheindlin denied a request by the oil companies to dismiss the suits in 2005." ... "``Innocent water providers -- and ultimately innocent water users -- should not be denied relief from the contamination of their water supply if defendants breached a duty to avoid an unreasonable risk of harm from their products,'' Scheindlin said at the time." ... "The case is In Re: MTBE, 00-cv-1898, U.S. District Court, Southern District of New York (Manhattan). " -By David Glovin -Bloomberg

20080503

Barack Obama - Hillary Clinton - Gas - Politics - 2008 Election - New York - Illinois - Indiana - North Carolina - US - Guam - "Obama rips Clinton's gas tax plan." ... "Broadening his attack, [2008 Election Democratic Presidential Candidate and Illinois Senator] Sen. Barack Obama said Saturday that [2008 Election Democratic Presidential Candidate and New York Senator] Sen. Hillary Clinton's support for a summertime break from the federal gasoline tax symbolizes a candidacy consisting of "phony ideas, calculated to win elections instead of actually solving problems."" ... "Locked in a Democratic presidential race for the ages, Clinton and Obama campaigned across Indiana and North Carolina at the same time they competed in Guam's caucuses and added to their convention delegate totals in several states." ... "In all, four delegates were at stake in Guam half a world away from the U.S. [United States] mainland. But given the closeness of the race, both candidates made an effort to win." -CNN

20080502

John McCain - Corporate - Oil - Politics - Foreign - US - Iraq - Military - 2008 Election - Denver - Colorado - "McCain Suggests Iraq War Is About Oil." ... "At the conclusion of a town hall held this morning outside in Devner [sic, correction: Denver, Colorado], [2008 Election Republican Presidential Candidate] John McCain decided to toss in a plug for his upcoming energy policy rollout. But as McCain decried the dangers of Americans reliance on foreign oil, he also seemed to suggest that this reliance caused the current struggle in Iraq." ... ""My friends, I will have an energy policy that we will be talking about, which will eliminate our dependence on oil from the Middle East that will - that will then prevent us - that will prevent us from having ever to send our young men and women into conflict again in the Middle East," McCain said." ... "This comment was initially prompted by a compliment from a military veteran who stated that he hoped a group called "Swift Boats for McCain come out and help" the GOP [GOP=Grand Old Party=Republican] nominee. " ... "Of note -- McCain didn't object to the audience member's suggestion that a so-called 'swift boat' group help him win the presidency. Instead, he thanked the man for his good wishes and his military service." -By Adam Aigner-Treworgy -NationalJournal
WATCH: "McCain Implies Iraq War Is For Oil."
Hillary Clinton - John McCain - Gas - Politics - Consumer - Memorial Day - Labor_Day - New York - 2008 Election - "Clinton, McCain Push Gas Tax Break Economists Panned (Update1)." ... "[2008 Election Democratic Presidential Candidate] Hillary Clinton and [2008 Election Republican Presidential Candidate] John McCain are both pushing a ``gas-tax holiday'' to give consumers an 18.4- cent-a-gallon price break. Clinton says the plan will take excess profits from oil companies. McCain says it will help families buy school supplies." ... "Economists have a different take: They say the oil companies may end up the biggest beneficiaries, while the aid to families wouldn't be enough to buy a $35 backpack." ... "The trouble with the plan, they say, is that oil prices are rising because of low supplies, and companies will continue to charge the average $3.60 a gallon and just pocket the money that would have gone to federal taxes." ... "``That's $10 billion, and it's going into the pockets of oil refiners,'' said Leonard Burman of the Tax Policy Center in Washington. ``The last time I checked, they didn't need it.''" ... "Ethan Harris, chief U.S. [United States] economist at Lehman Brothers Holdings Inc., said families would save only about $18 a month. Burman estimated the total savings from Memorial Day to Labor Day at $28." ... "New York Mayor Michael Bloomberg said the proposal was ``about the dumbest thing I've heard in a long time from an economic point of view.''" -By Alison Fitzgerald -Bloomberg

20080430

Agriculture - Factory - Companies - Poor - People - Nutrition - Health - US - - World - Biofuel - Air - Soil - Water - Environment - Animals - Plants - Science - "Shortages Threaten Farmers’ Key Tool: Fertilizer." ... "Some kinds of fertilizer have nearly tripled in price in the last year, keeping farmers from buying all they need. That is one of many factors contributing to a rise in food prices that, according to the United Nations’ World Food Program, threatens to push tens of millions of poor people into malnutrition." ... "Rising demand for food and biofuels prompted farmers everywhere to plant more crops." ... "Fertilizer companies are confident the shortage will be solved eventually, noting that they plan to build scores of new factories. But that will probably create fresh problems in the long run as the world grows more dependent on fossil fuels to produce chemical fertilizers." ... "The demand for fertilizer has been driven by a confluence of events, including population growth, shrinking world grain stocks and the appetite for corn and palm oil to make biofuel. But experts say the biggest factor has been the growing demand for food, especially meat, in the developing world." ... "Fertilizer is plant food, a combination of nutrients added to soil to help plants grow. The three most important are nitrogen, phosphorus and potassium. The latter two have long been available. But nitrogen in a form that plants can absorb is scarce, and the lack of it led to low crop yields for centuries." ... "That limitation ended in the early 20th century with the invention of a procedure, now primarily fueled by natural gas, that draws chemically inert nitrogen from the air and converts it into a usable form." ... "Environmental groups fear increased use, particularly of nitrogen fertilizer made using fossil fuels. Because plants do not absorb all the nitrogen, much of it leaches into streams and groundwater. That runoff has long been recognized as a major pollution problem, and it is growing." ... "A barometer of the pollution is the rising number of dead zones where rivers meet the sea. In the Gulf of Mexico, for instance, nitrogen runoff from fields in the Corn Belt washes downstream and feeds plant life in the gulf. The algae blooms suck oxygen from the water, killing other marine life." (1, 2) -By Keith Bradsher and Andrew Martin -NYTimes
Clinton - McCain - Obama - Infrastructure - Auto - Transportation - North Carolina - 2008 Election - Oil - Companies - Politics - "Clinton-McCain gas tax holiday slammed as bad idea." ... "The [gas] tax is used to fund the Highway Trust Fund that builds and maintains roads and bridges." ... "Economists said that since refineries cannot increase their supply of gasoline in the space of a few summer months, lower prices will just boost demand and the benefits will flow to oil companies, not consumers." ... ""You are just going to push up the price of gas by almost the size of the tax cut," said Eric Toder, a senior fellow at the Urban-Brookings Tax Policy Center in Washington." ... "[2008 Election Democratic Presidential Candidate Barack] Obama criticized the plan as pure politics and said the only way to lower the price of gas is to use less oil." ... ""It would last for three months and it would save you on average half a tank of gas, $25 to $30. That's what Senator Clinton and Senator McCain are proposing to deal with the gas crisis," he said on Tuesday in Winston-Salem, North Carolina." ... ""This isn't an idea designed to get you through the summer, it's an idea designed to get them through an election."" (1, 2, 3) -By Alister Bull with contributions by Bill Trott -Reuters

20080429

McCain - Clinton - Obama - Transportation - Infrastructure - Federal - Money - Arizona - New York - Illinois - 2008 Election - Labor_Day - Memorial Day - Consumer - Car - Gas - Politics - "What a gas: Candidates seem far less presidential when they talk about 'gas tax holidays' rather than the nation's ongoing needs." ... "[2008 Election Republican Presidential Candidate and Arizona Senator] Sen. John McCain's idea to give Americans a summer holiday from federal gas taxes is about as weighty as a Barbie Dream Car, yet he can't stop driving it into the ground." ... "Neither can [2008 Election Democratic Presidential Candidate and New York Senator] Sen. Hillary Clinton. The two presidential contenders can't resist the chance to pander to voters and, as a bonus, paint [2008 Election Democratic Presidential Candidate and Illinois Senator] Sen. Barack Obama as an elitist. By doing so, they're missing an opportunity to show leadership on some major long-term challenges -- such as updating the nation's crowded roads and aging bridges." ... "In a speech on April 15, McCain proposed that the federal government suspend the 18.4-cent-per-gallon gas tax and the 24.4-cent-per-gallon diesel tax between Memorial Day and Labor Day. ... "McCain's idea is problematic on several levels. First, it would begin and end several months before the next president takes office, so it's more of a thought balloon than a plan. Second, the tax relief would save the typical American family only about $40 per car, while also siphoning $10 billion from the cash-strapped federal highway fund." ... "What's more, leading economists say the tax break would do little to lower the prices at the pump. More likely, the slightly lower prices would lead to higher demand, which would push the prices back up, allowing oil companies to make more money while federal tax coffers go hungry." ... "This is an election-year sop, not a plan for the future." -Oregonian

20080425

Consumer - Opinion - History - Fuel - Employment - Houses - Cars - Michigan - "U.S. Economy: Sentiment Weakens More Than Anticipated (Update3)." ... "U.S. [United States] consumer confidence fell more than forecast in April to a 26-year low as record fuel prices and rising unemployment threatened to reduce spending." ... "The Reuters/University of Michigan sentiment index decreased to 62.6, from 69.5 the previous month. The measure was down from a preliminary estimate of 63.2 issued on April 11." ... "Consumers are growing increasingly anxious because the economy has lost almost a quarter million jobs so far this year, gasoline is up 17 percent and property values have fallen. Sales of houses and cars have declined as a result, contributing to a slowdown that may bring an end to the six-year expansion." ... "The index of consumer expectations for six months from now, which more closely projects the direction of consumer spending, dropped to 53.3 from 60.1 last month." ... "The economy lost 80,000 jobs in March, the most in five years, following a 76,000 drop in payrolls in each of the prior two months, according to figures from the Labor Department." ... "The average price of regular unleaded gasoline rose to a record $3.58 a gallon yesterday, according to data from AAA [American Automobile Association]." ... "Cars and light trucks sold at an average 15.2 million annual pace in the first three months of the year, the fewest since the third quarter of 1998." -By Bob Willis -Bloomberg

20080423

Mary Peters - Covert - Language - Law - Politics - Greenhouse Gases - Clean Air Act - Environmental - Transportation - Auto - Makers - Fuel - Economy - San Francisco - California - Massachusetts - US - Global - Climate - "Bush fuel economy rules swipe at California." ... "When the [Republican President] Bush administration announced proposed regulations Tuesday to raise fuel economy standards for cars and trucks to 31.6 miles per gallon by 2015, even some environmentalists applauded. But then they read the fine print." ... "Tucked deep into a 417-page "Notice of Proposed Rulemaking" was language by the Transportation Department stating that more stringent limits on tailpipe emissions embraced by California and 17 other states are "an obstacle to the accomplishment" of the new federal standards and are "expressly and impliedly preempted" by federal law." ... "California Attorney General Jerry Brown called it a covert assault on California's rules. Environmentalists said the language will be used by automakers in their legal challenges to two recent federal court rulings that sided with the states." ... "The language showed that beneath the bipartisan veneer of support for new fuel economy standards - approved by [the Democratic controlled] Congress and signed by [Republican] President Bush in December - the conflict is still raging between the White House and the states over who will set the nation's first limits on greenhouse gases." ... "Transportation Secretary Mary Peters, who announced the proposed rules Tuesday, acknowledged that the preemption language was included in the document." ... "The Supreme Court ruled in the Massachusetts vs. EPA case last year that the Transportation Department's authority to set fuel economy standards should not impede other efforts under the Clean Air Act to reduce greenhouse gases." ... "[California Democratic Representative and] House Speaker Nancy Pelosi, D[Democratic]-San Francisco [California], responded: "The administration is continuing to block climate change progress by asserting that California doesn't have the right to move forward with its own global warming regulations. That is completely unjustified."" -By Zachary Coile -SFGate.com

20080422

Smog - Science - Elderly - Children - Environmental - Safety - Government - Politics - Fuel - Industry - Clean Air - Law - "Scientists: Smog contributes to premature death." ... "Short-term exposure to smog, or ozone, is clearly linked to premature deaths that should be taken into account when measuring the health benefits of reducing air pollution, a National Academy of Sciences review concludes." ... "The findings contradict arguments made by some [Republican President Bush] White House officials that the connection between smog and premature death has not been shown sufficiently and that the number of saved lives should not be calculated in determining clean air benefits." ... "The report released Tuesday by a panel of the Academy's National Research Council says government agencies "should give little or no weight" to such arguments." ... ""The committee has concluded from its review of health-based evidence that short-term exposure to ambient ozone is likely to contribute to premature deaths," the 13-member panel said." ... "It added that "studies have yielded strong evidence that short-term exposure to ozone can exacerbate lung conditions, causing illness and hospitalization and can potentially lead to death."" ... "Ground-level ozone is formed from nitrogen oxide and organic compounds created by burning fossil fuels and is demonstrated often by the yellow haze or smog that lingers in the air. Ozone exposure is a leading cause of respiratory illnesses and especially affects the elderly, those with respiratory problems and children." -AP via -CNN

20080421

Global - Planet - Oil- Food - Agriculture - Car - Economy- China - "Running Out of Planet to Exploit." ... "Last week, oil hit $117." ... "Food prices have also soared, as have the prices of basic metals. And the global surge in commodity prices is reviving a question we haven’t heard much since the 1970s: Will limited supplies of natural resources pose an obstacle to future world economic growth?" ... "How you answer this question depends largely on what you believe is driving the rise in resource prices. Broadly speaking, there are three competing views." ... "The first is that it’s mainly speculation — that investors, looking for high returns at a time of low interest rates, have piled into commodity futures, driving up prices." ... "The second view is that soaring resource prices do, in fact, have a basis in fundamentals — especially rapidly growing demand from newly meat-eating, car-driving Chinese — but that given time we’ll drill more wells, plant more acres, and increased supply will push prices right back down again." ... "The third view is that the era of cheap resources is over for good — that we’re running out of oil, running out of land to expand food production and generally running out of planet to exploit." ... "I find myself somewhere between the second and third views." ... "There are some very smart people — not least, George Soros — who believe that we’re in a commodities bubble (although Mr. Soros says that the bubble is still in its “growth phase”)." -By Paul Krugman -NYTimes

20080417

- - Media - Politics - Corporate - Network - 2008 Election - - - - - Torture - - Human Rights - - Consumer - - - Safety - - - - Death Penalty - "Okay, Now I'm Bitter." [Mary Mapes on what DISNEY/ABC didn't cover in the 2008 Election Democratic Presidential Candidate debate in Pennsylvania with Hillary Clinton and Barack Obama] ... "In Iraq, we've seen a rebound in suicide bombings and gotten the disquieting information that Iraqi soldiers have been fleeing the battlefield in frightening numbers." ... "Americans learned that detailed discussions of torture techniques had been held in the [Republican President] White House -- our White House -- and President Bush revealed that he knew this and approved." ... "[Home] Foreclosure rates have spiked to frightening levels." ... "U.S. [United States] shoppers were told that food prices in this country are rising at a higher pace than at any time in the past 17 years." ... "The airline industry floundered through dreadful days of groundings, amidst safety concerns, economic ailments and passenger anger." ... "Oil prices are setting new records almost every day and $4 a gallon gas is coming soon to a service station near you." ... "The anguish over China's human rights record and its handling of Tibet turned the Olympic torch relay into a cross between Spain's Running of the Bulls and 3rd grade keep-away." ... "[2008 Election Republican Presidential Candidate] John McCain, acting like a mean old man trying to chase those pesky voters off his lawn, refused to endorse a new GI bill that would help those currently serving our country get a college education." ... "The Supreme Court issued a fractured opinion on the death penalty that for the first time in years raises the real possibility of a national debate on the value and morality of the ultimate punishment." ... "And we are in the middle of what is clearly the most important, most consequential election of my lifetime -- and I'm no spring chicken." ... "Instead, I sat in front of my TV open-mouthed, listening to a hodgepodge of juvenile questions about flag jewelry, the possibility of a "dream" ticket, elderly radicals, Charlie Gibson's personal tax concerns and ministers who emote too much. What, no time for a question about Cindy McCain's purloined pork chop recipe?" -By Mary Mapes -HuffingtonPost.com

20080416

Global - Climate - Coal - Plant - Greenhouse Gas - Science - Politics - "Bush Announces Greenhouse Gas Strategy -- Surprise! It's Bad." ... "[Republican] President Bush delivered a speech today in which he outlined a new strategy to "effectively combat climate change." Unfortunately, on my initial read of excerpts from his speech, it seems deeply, deeply flawed." ... "Bush is finally publicly admitting that emissions should be curbed because they affect the climate. That's fine, but his proposed response doesn't logically follow from that statement of fact. If you think the greenhouse gas emissions are a problem, then you should craft a solution that reduces them. But Bush, instead, is suggesting that no mandatory caps be put in place, that no specific targets be fixed in the near term, and that no moratorium be called on coal plant production." ... "Essentially, he just says, let's wait ten years and then do something." -By Alexis Madrigal -Wired

20080414

China - Military - Police - Terrorism - Religious - Censorship - Oil - Sports - Human Rights - "As world watches Tibet, China's Muslim Uighurs face growing repression." ... "Almost unnoticed amid the wide-scale protests by Tibetans over the past month is the social unrest among the 8 million or so Muslim Uighurs in China's resource-rich far western territory." ... "Recently, hundreds of Muslim women in black veils gathered outside the market in this oasis city [Khotan, China] in an impromptu protest. Some carried signs demanding an independent state." ... ""I saw the demonstration myself. There were 500 to 700 women in black, waving placards for East Turkestan," said Wu Jiangliang, a hydroelectric company employee." ... "China handled the unrest forcefully, ensuring the stability of a region rich in oil, coal and minerals. Police moved quickly to quell the March 23 protest, arresting numerous women and shooing others away. It drew only minor notice." ... "China also has broken up what it said were two terrorist rings that intended to disrupt the Beijing [China's capital] Summer Olympic Games and thwarted what it said was a terrorist attempt last month on a commercial airliner." ... "But as state officials employed a firm hand against restive Uighurs, pronounced WEE-gers, they also publicly demonized those behind the social unrest. Critics now say that while the state has stabilized ethnic areas, the harsh language may exacerbate tensions." ... ""The problem is that China's policies are alienating," said Nicholas Bequelin, a Hong Kong-based researcher for Human Rights Watch, an advocacy group. "They are efficient in that political repression works. But they increase ethnic tensions."" -By Tim Johnson -McClatchyDC.com

20080409

Bob Schaffer

Oil

Money

Politics

Video

Colorado

2008 Election

"'Thanks, Bob' ad spawns spoof: 'Big oil' replaces 'charter schools' in Schaffer spot." ... "An ad that features school children thanking [2008 Election Colorado] Republican Senate candidate Bob Schaffer for his commitment to charter schools has inspired a parody." ... "The spoof ad shows "oil executives" bragging about record profits and thanking Schaffer for supporting tax breaks for their industry." ... "Schaffer now works for Aspect Energy LLC." ... "[About the parody, President of ProgressNow Michael Huttner said:] "We did it with volunteers because we think Schaffer has done a lot more for big oil than he has for kids."" ... "Huttner said congressional records show Schaffer in 2001 voted for [Republican] President Bush's energy plan. Democrats called it $33 billion giveaway to the energy industry." -By Lynn Bartels

-RockyMountainNews.com

Watch Parody Video: "Thanks Bob - Bob Schaffer"

US - Iraq - Oil - Accounting - Politics - Reconstruction - Military - Michigan - "Blitzer: Iraqis playing U.S. taxpayers for 'suckers'?" ... "Just before and immediately after the U.S. [United States] launched its invasion of Iraq, [Republican President] Bush administration officials optimistically predicted that Iraqi oil exports would soon finance the reconstruction of the country. That didn’t happen. U.S. taxpayers were stuck with the literally tens of billions of dollars in bills." ... "Now, five years later and with the price of oil reaching more than $100 a barrel, Iraqi oil exports are generating huge sums — $56.4 billion this year alone, according to the Government Accountability Office. [Michigan Democratic] Senator Carl Levin, the Chairman of the Armed Services Committee, says Iraq now has tens of billions of dollars in surplus funds in their banks and in other accounts around the world, including about $30 billion in U.S. banks right now." ... "But Levin notes that the Iraqis by and large are still not using their money to build new roads, bridges, schools and hospitals. Why should they? Uncle Sam is still doing that for them." ... "“The result is that far from financing its own reconstruction, as the administration promised five years ago, the Iraqi government has left the U.S. to make most of the capital expenditures needed to provide essential services and improve the quality of life of the Iraqi citizens,” Levin said in his opening remarks before the testimony of Gen. David Petraeus and Ambassador Ryan Crocker. “As of last Thursday,” Levin added, “the United States is paying the salaries of almost 100,000 Iraqis who are working on reconstruction.”" -By Wolf Blitzer -CNN

20080331

Government - Food - People - Families - Poverty - Disasters - Fuel - Prices - Politics- History - "As Jobs Vanish and Prices Rise, Food Stamp Use Nears Record." ... "Driven by a painful mix of layoffs and rising food and fuel prices, the number of Americans receiving food stamps is projected to reach 28 million in the coming year, the highest level since the aid program began in the 1960s." ... "The number of recipients, who must have near-poverty incomes to qualify for benefits averaging $100 a month per family member, has fluctuated over the years along with economic conditions, eligibility rules, enlistment drives and natural disasters like Hurricane Katrina, which led to a spike in the South." ... "But recent rises in many states appear to be resulting mainly from the economic slowdown, officials and experts say, as well as inflation in prices of basic goods that leave more families feeling pinched. Citing expected growth in unemployment, the Congressional Budget Office this month projected a continued increase in the monthly number of recipients in the next fiscal year, starting Oct. 1 — to 28 million, up from 27.8 million in 2008, and 26.5 million in 2007." ... "The percentage of Americans receiving food stamps was higher after a recession in the 1990s, but actual numbers are expected to be higher this year." -By Erik Eckholm -NYTimes
Food - Agriculture - Plant - Land - History - Ethanol - Companies - Animal - Consumers - "Corn forecast suggests rise in food prices is ahead." ... "U.S. [United States] farmers plan to cut back corn planting and boost soybean production, a shift that could send ripples from the farm belt to your grocery bills." ... "The U.S. Department of Agriculture on Monday released its prospective plantings report. The report, which came amid surging grain prices, bore news that affects grain farmers, livestock producers, ethanol companies, food processors and, ultimately, consumers." ... "Corn plantings are expected to fall 8 percent this year, to 86 million acres, according to the Department of Agriculture. Last year farmers planted a post-World War II record of nearly 94 million acres of corn to meet burgeoning demand for ethanol, which is expected to soon absorb about 30 percent of domestic corn production." ... "“Last year many soybean growers switched from soybeans to corn as ethanol expansion strongly increased the demand for corn,” the Department of Agriculture said." ... "This year, though, many of the 86,000 farmers surveyed for the report said they were shifting production back toward soybeans, which had surged in price. Soybean planting is expected to increase 18 percent this year, to almost 75 million acres." ... "Corn is trading near its record-high price of $5.70 a bushel, more than double the price of two years ago. Soybeans are hovering around $12 a bushel, nearly double last year’s level." (1, 2) -By Victoria Sizemore Long -KansasCity.com
Oil - Politics- Government - US - Calif - Global - Climate - Environmental - Emissions - Memorial Day - Driving - "Gas prices put oil executives on the hot seat." ... "Oil executives return to the hot seat Tuesday as a House panel examines rising gasoline prices and the industry’s opposition to efforts to repeal $18 billion in tax breaks. The new money would be used to pay for the development of renewable energy." ... "For the industry’s critics, the House Select Committee for Energy Independence and Global Warming hearing Tuesday is another indication of the industry’s waning clout on Capitol Hill, as was the House vote earlier this year that repealed tax breaks the industry now receives." ... "But the army of lobbyists who represent the oil and gas industry has so far successfully fought back in the Senate, which has yet to pass a similar tax bill, forcing renewable energy advocates to lower their own expectations." ... "Executives from ExxonMobil, BP, Shell, Chevron and ConocoPhillips were expected to testify before the House panel, which was created by [California Democratic Representative] Speaker Nancy Pelosi (D-Calif.[Democratic-California]) to highlight her caucus’s efforts to reduce greenhouse gas emissions and the nation’s dependence on foreign oil." ... "Some oil lobbyists worried the hearing could turn raucous since prices at the pump have reached a new record — weeks before the traditional start of driving season on Memorial Day." ... "By coincidence or not, the hearing is being held the same day as “Fossil Fools’ Day,” a campaign by some environmental groups. They question the wisdom of continuing to use fossil fuels, which emit carbon dioxide when burned, as the mainstay for energy production when global temperatures are rising because of increasing greenhouse gas emissions." -By Jim Snyder -TheHill.com
Food - Crisis - World - People- Farmers - Land - Fuel - Money- Politics - History - Weather - Drought - China - UN- "Tensions rise as world faces short rations." ... "Food prices are soaring, a wealthier Asia is demanding better food and farmers can't keep up. In short, the world faces a food crisis and in some places it's already boiling over." ... "Around the globe, people are protesting and governments are responding with often counterproductive controls on prices and exports -- a new politics of scarcity in which ensuring food supplies is becoming a major challenge for the 21st century." ... "Plundered by severe weather in producing countries and by a boom in demand from fast-developing nations, the world's wheat stocks are at 30-year lows. Grain prices have been on the rise for five years, ending decades of cheap food." ... "Drought, a declining dollar, a shift of investment money into commodities and use of farm land to grow fuel have all contributed to food woes. But population growth and the growing wealth of China and other emerging countries are likely to be more enduring factors." ... "World population is set to hit 9 billion by 2050, and most of the extra 2.5 billion people will live in the developing world. It is in these countries that the population is demanding dairy and meat, which require more land to produce." ... "In 2007 alone, according to the U.N. [United Nations] Food and Agriculture Organization's world food index, dairy prices rose nearly 80 percent and grain 42 percent." [see also: Agflation] (1, 2, 3, 4, 5) -By Russell Blinch and Brian Love with contributions by Ayesha Rascoe, Missy Ryan, Alistair Thomson, Ho Binh Minh and Eddie Evans -Reuters

20080328

Barack Obama - Hillary Clinton - John McCain - Homeowners - Financial - Law - Government - Energy - Telecommunications - Illinois - North Carolina - 2008 Election - "Obama Casts Wide Blame for Financial Crisis and Proposes Homeowner Aid." ... "[2008 Election Democratic Presidential Candidate and Illinois] Senator Barack Obama called Thursday for tighter regulation of mortgage lenders, banks and financial houses, even as he spoke of pumping $30 billion into the economy to shield homeowners and local governments from the worst effects of the collapse of the housing bubble." ... "Mr. Obama laid much of the blame for the crisis on lobbyists and politicians who dismantled the regulatory framework governing the energy, telecommunications and financial services sectors." ... "“Under Republican and Democratic administrations, we failed to guard against practices that all too often rewarded financial manipulation instead of productivity and sound business practices,” Mr. Obama said. “The result has been a distorted market that creates bubbles instead of steady sustainable growth, a market that favors Wall Street over Main Street but ends up hurting both.”" ... "“Instead of establishing a 21st-century regulatory framework, we simply dismantled the old one,” he said, “aided by a legal but corrupt bargain in which campaign money all too often shaped policy and watered down oversight.”" ... "[2008 Election Democratic Presidential Candidate Hillary Clinton:] “We’ve had enough of a president who didn’t know enough about economics and didn’t do enough for the American middle class,” Mrs. Clinton said in Raleigh [North Carolina's capital]. Referring to [2008 Election Republican Presidential Candidate John] Mr. McCain, she added, “I don’t think we can afford four more years of that kind of inaction.”" ... "Mr. McCain “recently admitted, ‘The issue of economics is not something I’ve understood as well as I should,’ ” Mrs. Clinton said. “And it turns out he’d rather ignore the credit crisis and mortgage crisis — or blame middle-class families instead of offering solutions on their behalf.”" -By Michael Powell and Jeff Zeleny -NYTimes

20080325

Iraq - British - Police - Oil- Politics - "Iraqi forces battle Mahdi militia in southern Iraq, Baghdad." ... "With Iraq's top leaders directing the battle, Iraq's army and national police pressed a major operation Tuesday to wrest control of the southern port city of Basra from the Shiite Mahdi Army militia. Fighting between government forces and the militia quickly spread through Iraq's south and into Baghdad [Iraq's capital]." ... "Prime Minister Nouri al Maliki and his defense and interior ministers took charge of the 15,000 Iraqi army troops and police units, which were deployed for what aides said was to be a three-day operation against militias in the city." ... "The battle at the oil-rich port began before dawn Tuesday and lasted into the early evening before subsiding slightly as the Mahdi Army, headed by firebrand cleric Muqtada al Sadr, defended positions in several neighborhoods." ... "Maliki is taking a major political risk in attempting to recover Basra, which was virtually handed over to militias when the British military withdrew late last year." ... "Formally, Sadr is still observing a cease-fire he announced last August and renewed in February. But in fact his Mahdi Army has dominated several critical parts of Iraq, including in Basra, the heart of a major oil-producing region." ... "But a lawmaker close to Maliki said Sadr's cease-fire and freeze on operations were something of a fiction. "If you talk to Muqtada, they say we are freezing Jaysh al Mahdi (the Mahdi Army), but the bombing and the kidnapping and even hitting the Green Zone continues," said Sami al Askari, the lawmaker. "How can we believe the cease-fire when we continue to see this?"" -By Leila Fadel and Ali al Basri with contributions by Mohammed al Dulaimy -McClatchyDC.com
American - Workers - Health - Safety - Lawsuit - KBR Halliburton - Corporation - Government - History - Texas- Oil - Construction - Science - Iraq - Cayman Islands - Politics - "Iraq contractor fights suit over toxic exposure: Tax loophole may subject construction firm to damages." ... "When the American team arrived in Iraq in the summer of 2003 to repair the Qarmat Ali water injection plant, supervisors told them the orange, sand-like substance strewn around the looted facility was just a "mild irritant," workers recall." ... "The workers got it on their hands and clothing every day while racing for 2 1/2 months to meet a deadline to get the plant, a crucial part of Iraq's oil infrastructure, up and running." ... "But the chemical turned out to be sodium dichromate, a substance so dangerous that even limited exposure greatly increases the risk of cancer. Soon, many of the 22 Americans and 100-plus Iraqis began to complain of nosebleeds, ulcers, and shortness of breath. Within weeks, nearly 60 percent exhibited symptoms of exposure, according to the minutes of a meeting of project managers from KBR, the Houston[Texas]-based construction company in charge of the repairs." ... "Now, nine Americans are accusing KBR, then a subsidiary of the oil conglomerate Halliburton, of knowingly exposing them to the deadly substance and failing to provide them with the protective equipment needed to keep them safe." ... "But the workers, like all employees injured in Iraq, face an uphill struggle in their quest for damages. Under a World War II-era federal workers compensation law, employers are generally protected from employee lawsuits, except in rare cases in which it can be proven that the company intentionally harmed its employees or committed outright fraud." ... "KBR is citing the law, called the Defense Base Act, as grounds to reject the workers' request for damages." ... "But the company's own actions have undermined its case: To avoid payroll taxes for its American employees, KBR hired the workers through two subsidiaries registered in the Cayman Islands, part of a strategy that has allowed KBR to dodge hundreds of millions of dollars in Social Security and Medicare taxes." ... "That gives the workers' lawyer, Mike Doyle of Houston, a chance to argue to an arbitration board that KBR is not an employer protected by federal law, but a third-party that can be sued." -By Farah Stockman -Boston/Globe

20080321

Barack Obama - Hillary Clinton - John McCain - Debt - US - Iraq - Military - Illinois - West Virginia - Indiana - Car - Oil - Household - 2008 Election - "Obama Links Effects of War Costs to Fragility in the Economy." ... "[2008 Election Democratic Presidential Candidate and Illinois] Senator Barack Obama on Thursday blamed the fragile economy on “careless and incompetent execution” of the Iraq war, imploring voters in this swing state [of West Virginia] to consider the trickle-down economic consequences of the war as they choose a successor to [Republican] President Bush." ... "“When you’re spending over $50 to fill up your car because the price of oil is four times what it was before Iraq, you’re paying a price for this war,” Mr. Obama said to an audience at the University of Charleston [in West Virginia]. “When Iraq is costing each household about $100 a month, you’re paying a price for this war.”" ... "“No matter what the costs, no matter what the consequences, [2008 Election Republican Presidential Candidate] John McCain seems determined to carry out a third Bush term,” Mr. Obama said. “That’s an outcome America can’t afford. Because of the Bush-McCain policies, our debt has ballooned.”" ... "[2008 Election Democratic Presidential Candidate Hillary Clinton in Indiana:] “We spend $12 billion a month in Iraq, and that does affect the economy,” Mrs. Clinton said. “That’s one of the reasons we’ve gone into more and more debt. We’ve got to begin not only to withdraw our troops, but bring that money back home. We need to put that money to work here in Indiana.”" -By Jeff Zeleny and Michael Cooper with contributions by Patrick Healy -NYTimes

20080317

World - US dollar - Japan yen - Swiss franc - EU Euro - Oil - History - "Stocks Tumble Around World, Dollar Declines After Fed Cuts Rate." ... "Stocks fell around the world and the dollar tumbled after the Federal Reserve cut its discount interest rate at an emergency meeting and JPMorgan Chase & Co. agreed to buy Bear Stearns Cos. for $2 a share. Bonds, gold and crude oil climbed." ... "Global stock markets lost $2.4 trillion in market value from a peak in October as of March 14. That partly reflects the slump in the U.S. dollar." ... "The dollar weakened to as low as 95.76 yen, a level not seen since August 1995, from 99.09 on March 14. It dropped to a record low of $1.5903 per euro and an all-time low of 0.9658 Swiss francs." ... "Gold for immediate delivery climbed as much as 3 percent to a record $1,032 an ounce as investors sought a haven against the weakening dollar. Crude oil gained as much as 1.4 percent to a high of $111.80 a barrel." ... "Bear Stearns plunged 90 percent to $2.88 after JPMorgan agreed to buy the bank." ... "Lehman Brothers Holdings Inc., the fourth-largest U.S. securities firm, lost 27 percent to $28.60." -By Patrick Rial -Bloomberg

20080316

Dennis Hastert - Money - Accounting - Oil - Iraq - Military - US - Ill- Ark - Va - "Republicans See Storm Clouds Gathering: Week of Bad News Highlights Difficult Challenges for GOP in Fall Elections." ... "It started with the loss last weekend of the seat held for two decades by [Illinois Republican Representative and] former House speaker J. Dennis Hastert (R-Ill. [Republican-Illinois]). It got worse when Republicans lost potentially strong challengers to Democratic senators in South Dakota and New Jersey, and failed to field anyone to oppose the reelection bid of [Arkansas Democratic Senator] Sen. Mark Pryor (D-Ark. [Democratic-Arkansas])." ... "The latest blow came with the revelation that the former treasurer of the National Republican Congressional Committee (NRCC) had allegedly diverted hundreds of thousands of dollars -- and possibly as much as $1 million -- from the organization's depleted coffers to his own bank accounts." ... ""It's no mystery," said [Virginia Republican Representative] Rep. Thomas M. Davis III (R-Va. [Republican-Virginia]). "You have a very unhappy electorate, which is no surprise, with oil at $108 a barrel, stocks down a few thousand points, a war in Iraq with no end in sight and a president who is still very, very unpopular. He's just killed the Republican brand."" (1, 2) -By Jonathan Weisman with contributions by Paul Kane -WashingtonPost

20080313

Stephen L Johnson - Corporate - Government - Politics - Environmental - Air - Health - Science - Clean Air Act - Law - History - Vehicles - Manufacturing - Power Plants - Children - "EPA Tightens Pollution Standards: But Agency Ignored Advisers' Guidance." ... "The Environmental Protection Agency yesterday limited the allowable amount of pollution-forming ozone in the air to 75 parts per billion, a level significantly higher [meaning more polluting] than what the agency's scientific advisers had urged for this key component of unhealthy air pollution." ... "[Republican President Bush's Environmental Protection Agency] Administrator Stephen L. Johnson also said he would push Congress to rewrite the nearly 37-year-old Clean Air Act to allow regulators to take into consideration the cost and feasibility of controlling pollution when making decisions about air quality, something that is currently prohibited by the law. In 2001, the Supreme Court ruled that the government needed to base the ozone standard strictly on protecting public health, with no regard to cost." ... "The new pollution rules -- one of the most important environmental decisions facing the Bush administration in the president's final year in office -- will be a major factor in determining the quality of the air Americans will breathe for at least a decade. The standards, which are aimed at protecting both public health and welfare, are designed to limit the amount of nitrogen oxides and other chemical compounds released into the air by vehicles, manufacturing facilities and power plants. In sunlight, the pollutants form ozone." ... "Johnson said he did "what was required by the law and the recent scientific evidence," but his decision to set a lower but still less-restrictive limit than what the EPA's advisory committees had recommended sparked a backlash from Democratic lawmakers, public health advocates and his own independent advisers." ... "Nearly a year ago, EPA's Clean Air Scientific Advisory Committee reiterated in writing that its members were "unanimous in recommending" that the agency set the standard no higher than 70 parts per billion (ppb) and to consider a limit as low as 60 ppb. EPA's Children's Health Protection Advisory Committee and public health advocates lobbied for the 60-ppb limit because children are more vulnerable to air pollution." ... "EPA and other scientists have shown that ozone has a direct impact on rates of heart and respiratory disease and resulting premature deaths. The agency calculates that the new standard of 75 ppb would prevent 1,300 to 3,500 premature deaths a year, whereas 65 ppb would avoid 3,000 to 9,200 deaths annually. " -By Juliet Eilperin -WashingtonPost

20080306

Dick Cheney - Corporate - Military - Government - KBR-Halliburton - Cayman Islands - United Arab Emirates (Dubai) - Secret - Iraq - Oil - Infrastructure - History - American - Workers - Health - Security - Legislation - Massachusetts - "Top Iraq contractor skirts US taxes offshore: Shell companies in Cayman Islands allow KBR to avoid Medicare, Social Security deductions." ... "Kellogg Brown & Root, the nation's top Iraq war contractor and until last year a subsidiary of Halliburton Corp. [Corporation], has avoided paying hundreds of millions of dollars in federal Medicare and Social Security taxes by hiring workers through shell companies based in this tropical tax haven [Cayman Islands]." ... "More than 21,000 people working for KBR in Iraq - including about 10,500 Americans - are listed as employees of two companies that exist in a computer file on the fourth floor of a building on a palm-studded boulevard here in the Caribbean. Neither company has an office or phone number in the Cayman Islands." ... "The Defense Department has known since at least 2004 that KBR was avoiding taxes by declaring its American workers as employees of Cayman Islands shell companies, and officials said the move allowed KBR to perform the work more cheaply, saving Defense dollars." ... "But the use of the loophole results in a significantly greater loss of revenue to the government as a whole, particularly to the Social Security and Medicare trust funds." ... ""Failing to contribute to Social Security and Medicare thousands of times over isn't shielding the taxpayers they claim to protect, it's costing our citizens in the name of short-term corporate greed," said [Massachusetts Democratic] Senator John F. Kerry, a Massachusetts Democrat on the Senate Finance Committee who has introduced legislation to close loopholes for companies registering overseas." ... "With an estimated $16 billion in contracts, KBR is by far the largest contractor in Iraq, with eight times the work of its nearest competitor." ... "The [secret] no-bid contract it received in 2002 to rebuild Iraq's oil infrastructure and a multibillion-dollar contract to provide support services to troops have long drawn scrutiny because [Republican] Vice President Dick Cheney was Halliburton's chief executive from 1995 until he joined the Republican ticket with [Republican] President Bush in 2000." ... "The largest of the Cayman Islands shell companies - called [SEII] Service Employees International Inc. [Incorporated, which is not associated with the Service Employees International Union (SEIU)], which is now listed as having more than 20,000 workers in Iraq, according to KBR - was created two years before Cheney became Halliburton's chief executive. But a second Cayman Islands company called Overseas Administrative Services, which now is listed as the employer of 1,020 mostly managerial workers in Iraq, was established two months after Cheney's appointment." ... "If KBR's American workers averaged even as much as $63,000 per year, they and KBR would have owed more than $100 million per year in Social Security and Medicare taxes, split evenly between them. Over the course of the five-year war, their tax bill would have been more than $500 million." ... "The real managers of Service Employees International work out of KBR's office in Dubai. KBR and Halliburton, which also moved to Dubai [an emirate of the United Arab Emirates], severed ties last year." -By Farah Stockman with contributions by Stephanie Vallejo and Matt Negrin -Boston/Globe

20080227

US- EU - Swiss - UK - New York - Oil - "Dollar slides to new lows after Fed warning." ... "There were records for the euro, which climbed as high as $1.5143 by midday in New York, and the Swiss franc, which hit SFr1.0624. Sterling, which had earlier fallen against the dollar due to weak UK [United Kingdom] growth data, Came back up to $1.9921." ... "The dollar index, a measure of the US [United States] unit’s strength against a basket of currencies, fell to a record low of 74.181. " ... "Oil prices also hit records. Nymex West Texas intermediate soared to $102.08, before edging back to $101.25. Brent crude rose to $100.53 as investors hedged against the weaker dollar." ... "Gold, which is often used as a hedge against inflation when oil prices rise, hit a fresh peak of $964.70 a troy ounce, and helped lift other precious metals. Silver rose to $19.43 its highest level since November 1980." -By Neil Dennis and Krishna Guha -FT.com

20080219

Oil - History - Texas - US - Countries - Nigeria - Venezuela - "Oil Closes Above $100 For First Time." ... "There was no single driver behind oil's sharp price jump; investors seized on an explosion at a 67,000 barrel per day refinery in Texas, the falling dollar, the possibility that OPEC [Organization of Petroleum Exporting Countries] may cut production next month, the threat of new violence in Nigeria and continuing tensions between the U.S. [United States] and Venezuela." ... "Light, sweet crude for March delivery rose $4.51 to settle at a record $100.01 a barrel on the New York Mercantile Exchange after earlier rising to $100.10, a new trading record. It was the first time since Jan. 3 that oil had been above $100." ... "Oil prices are still within the range of inflation-adjusted highs set in early 1980. Depending on how the adjustment is calculated, $38 a barrel then would be worth $96 to $103 or more today." -AP via -CBSNews

20080213

China - Sudan - Sports - Politics - US - Entertainer - Human - Human Rights - Oil- Military - "China loses Spielberg over Darfur." ... "Scott Jagow: Steven Spielberg will have nothing to do with the Summer Olympics in Beijing [China]. Yesterday, Spielberg withdrew as an artistic advisor for the opening and closing ceremonies. The director says he can't be associated with China's policies toward an African nation in conflict." ... "Bill Marcus: China's a big oil customer of Sudan. China also supplies Sudan with weapons. That's why Spielberg says he quit. He said China should do more to help end the human suffering in Sudan's Darfur region." ... "Human rights activists say Spielberg's move sets a moral standard." -By Scott Jagow and Bill Marcus -Marketplace via -PublicRadio.org

20080209

John McCain - Immigration - Finance - Legislation - Politics - Arizona- 2008 Election - "Wash. Post claimed McCain "diverged from conservatives" on immigration, taxes, without noting his flip-flops." ... "Summary: In an article on [2008 Election Republican Presidential Candidate and Arizona Senator] Sen. John McCain's efforts "to rally conservatives to his candidacy," The Washington Post asserted that McCain "has diverged from conservatives on several issues, including campaign finance legislation, immigration policy and President Bush's tax cuts." But, unlike a previous Post article [#1, #2] that documented McCain's "flip-flops" on taxes and immigration, this one did not mention that McCain has changed his positions on those two issues to more closely align himself with the base of the Republican Party." -MediaMatters.org

20080208

Biofuels - Plants - Greenhouse Gas - Global - Climate - Science - Agriculture - Land - Environmental - Economy - Food- "Biofuels Deemed a Greenhouse Threat." ... "Almost all biofuels used today cause more greenhouse gas emissions than conventional fuels if the full emissions costs of producing these “green” fuels are taken into account, two studies being published Thursday have concluded." ... "The benefits of biofuels have come under increasing attack in recent months, as scientists took a closer look at the global environmental cost of their production. These latest studies, published in the prestigious journal Science, are likely to add to the controversy." ... "These studies for the first time take a detailed, comprehensive look at the emissions effects of the huge amount of natural land that is being converted to cropland globally to support biofuels development." ... "The destruction of natural ecosystems — whether rain forest in the tropics or grasslands in South America — not only releases greenhouse gases into the atmosphere when they are burned and plowed, but also deprives the planet of natural sponges to absorb carbon emissions. Cropland also absorbs far less carbon than the rain forests or even scrubland that it replaces." ... "Together the two studies offer sweeping conclusions: It does not matter if it is rain forest or scrubland that is cleared, the greenhouse gas contribution is significant. More important, they discovered that, taken globally, the production of almost all biofuels resulted, directly or indirectly, intentionally or not, in new lands being cleared, either for food or fuel." (1, 2) -By Elisabeth Rosenthal -NYTimes

20080205

John McCain - Mitt Romney - Money - Immigration - Ethanol - Religious - Abortion - Law - Fla - 2008 Election - Media - "Dancing With GOP Stars: McCain, Romney Do Flip-Flop Waltz." ... "The record shows that [2008 Election Republican Presidential Candidate Mitt] Romney and [2008 Election Republican Presidential Candidate John] McCain have both changed their positions on taxes, immigration and other issues that are important to GOP [GOP=Grand Old Party=Republican] voters. Romney's changes have garnered more attention, raising questions about his core convictions, but McCain has changed his stances more often than he is usually prepared to admit." ... "Speaking in Jacksonville, Fla. [Florida], McCain sarcastically praised Romney: "He's consistently taken both sides of any major issue. He has consistently flip-flopped on every issue."" ... "Romney shot back that McCain was "against the Bush tax cuts" but "now he's for making them permanent." And "he was for McCain-Kennedy" immigration reform, Romney continued. "Now he's for a new program on immigration. He's changed his view on issue after issue. He was against ethanol, then for it, then against it again."" ... "Romney supporters argue that McCain's flip-flops have largely been under the public radar because they conflict with the "straight shooter" narrative that they say has been accepted and promoted by the media. McCain has altered his position on such issues as taxes, immigration, the religious right, Roe v. Wade [the Supreme Court case legalizing abortion] and ethanol." ... "The senator has sought to disguise his flip-flop on the [Republican President] Bush tax cuts by arguing that the main reason he opposed them was that they were not accompanied by cuts in government spending. This was not the explanation he gave at the time, however. In a May 2001 speech on the Senate floor, he said he could not "in good conscience support a tax cut in which so many of the benefits go to the most fortunate among us, at the expense of middle-class Americans who most need tax relief."" -By Michael Dobbs -WashingtonPost
John McCain - Pat Robertson - Money - Religion - Immigrant - Workers - Women - Abortions - Illegal - Iowa - Ethanol- Air - Environment - US - Global - Climate - History - 2008 Election - "Top McCain Flip-Flops." ... "1. Taxes. [2008 Election Republican Presidential Candidate] John McCain was one of two Republican senators to vote against [Republican] President Bush's tax cuts of 2001, saying that he could not support cuts that benefited the rich rather than the middle class. He now favors making the tax cuts permanent." ... "2. The religious right. During the 2000 presidential campaign, he attacked [Republican televangelists] Jerry Falwell and Pat Robertson as "agents of intolerance." He withdrew that remark in a 2006 interview on NBC's "Meet the Press," saying that the Christian right has a "major role to play in the Republican Party."" ... "3. Immigration. Last year, he sponsored a bill that would combine a temporary-worker program and a path to citizenship for many illegal immigrants while also increasing border security. He now emphasizes securing the borders first." ... "4. Roe v. Wade. In August 1999, he told the San Francisco Chronicle that he would "not support repeal of Roe v. Wade" because it would force women to have illegal abortions. He has subsequently said that he was speaking about the need to change the "culture of America" and that he supports the repeal of Roe, the 1973 Supreme Court decision that legalized abortion nationwide." ... "5. Ethanol. In 2003, he said that ethanol "does nothing to reduce fuel consumption, nothing to increase our energy independence, nothing to improve air quality." Campaigning in Iowa in August 2006, he described ethanol as a "vital alternative energy source, not only because of our dependency on foreign oil, but its greenhouse-reduction effects."" -WashingtonPost

20080124

Dennis Kucinich - Dick Cheney - Law - Health Care - Gay Marriage - Ohio - Energy - US - International - Trade - Seattle - Washington - 2008 Election - History - "Kucinich Abandons White House Bid." ... "[2008 Election Democratic Presidential Candidate and Ohio Representative] Democrat Dennis Kucinich is abandoning his second, long-shot bid for the White House as he faces a tough fight to hold onto his other job - U.S. congressman." ... "Once dubbed the "boy mayor" of Cleveland [Ohio], he made an unpopular decision to refuse to sell a publicly owned utility that pushed the city into default and drove him from office." ... "In 1994, Kucinich was elected state senator and he then won a seat in Congress in 1996. His once unpopular stand against the sale of the municipal electric system was praised as courageous. In 1998, the Cleveland City Council issued him a commendation for having the foresight to refuse to sell it." ... "During his time in Congress, Kucinich has been one of the most outspoken liberals, opposing international trade agreements like the North America Free Trade Agreement and marching with protesters in Seattle [Washington] during a meeting of the World Trade Organization." ... "As a presidential candidate, he has proposed a Department of Peace, backed universal health care and supported gay marriage. He also pushed for impeachment of [Republican] Vice President Dick Cheney." -By Joe Milicia -WRAL.com

20080122

Corporate - Energy - Politics - Enron - California - University - Texas - "Suit against bankers tied to Enron debacle is tossed: In dismissing the appeal by the University of California, nation's high court appears to have doomed other big cases against former energy trader's bankers." ... "The Supreme Court today dismissed a huge lawsuit growing out of the Enron debacle that sought to hold Wall Street bankers liable for scheming with the executives of the defunct Houston [Texas] energy trader." ... "Lawyers for investment funds and pension plans, including the University of California's pension plan, had sued Merrill Lynch and the other bankers, seeking to recover more than $30 billion that was lost when Enron folded in 2001." -By David G. Savage -LAtimes

20080121

John Edwards - Hillary Clinton - Barack Obama - 2008 Election - Economics - Workers - Energy - Poverty - Racial - Politics - "Edwards Excels in Ferocious Democratic Debate." ... "[2008 Election Democratic Presidential Candidate John] Edwards tweaked both his opponents for making the debate about political squabbling instead of public policy. Returning to his populist economic platform -- especially salient as Americans ponder a recession -- he reminded voters that he was the only candidate to outline a comprehensive plan to end poverty, and the first to introduce a national economic stimulus proposal. His plan came out weeks before [2008 Election Democratic Presidential Candidate Hillary] Clinton and [2008 Election Democratic Presidential Candidate Barack] Obama. The program drove the "party's policy agenda," as Paul Krugman explained, by advocating "aid to unemployed workers, aid to cash-strapped state and local governments," and alternative energy, (most of which Clinton later adopted in her plan). And while the debate moderators kept pushing trite racial questions, even asking Obama if Bill Clinton was the "first black president," Edwards outlined a vision of racial and economic equality, where "every American is of equal value."" -By Ari Melber -TheNation.com

20080120

Israel - Electronic - Cars - Manufacturing - Transportation - Technology - Company - Environmental - Health - Politics - California - US - Japan - France - "Israel Looks to Electric Cars." ... "The Israeli government announced a major initiative to push the nation's drivers toward electric cars on Monday, a move meant to both lessen dependence on foreign oil and address the environmental and health hazards of gas-burning vehicles." ... "It aligns policy makers and a major car company with an outfit prepared to build hundreds of thousands of electric charging stations across the country. In an interview with TIME, Israeli President Shimon Peres called the project, "an experimental lab, a pilot project, before it's applied to other, bigger industrialized nations."" ... "Automaker Renault-Nissan will manufacture the cars and Better Place, a California start-up founded by former SAP executive Shai Agassi, will build the infrastructure, which may eventually consist of 500,000 charging points and up to 200 battery-exchange stations." ... "The [Renault-Nissan] Japanese-French auto alliance has separately said that it will manufacture a hybrid by 2010 and an all-electric car by 2012." ... "Agassi figures that if he adds electrical outlets to at least 500,000 of Israel's three to four million parking spots, people will feel like they can charge their cars whenever they need to." ... "For longer drives, customers will be able to pull into a battery-swap station and get a fresh battery." -By Barbara Kiviat with contributions by Tim McGirk -TIME.com

20080119

Food - Oil - Money - Poverty - - - - - - - - - - - - - - - - "A New, Global Oil Quandary: Costly Fuel Means Costly Calories." ... "Rising prices for cooking oil are forcing residents of Asia’s largest slum, in Mumbai, India, to ration every drop. Bakeries in the United States are fretting over higher shortening costs. And here in Malaysia, brand-new factories built to convert vegetable oil into diesel sit idle, their owners unable to afford the raw material." ... "This is the other oil shock. From India to Indiana, shortages and soaring prices for palm oil, soybean oil and many other types of vegetable oils are the latest, most striking example of a developing global problem: costly food." ... "The food price index of the Food and Agriculture Organization of the United Nations, based on export prices for 60 internationally traded foodstuffs, climbed 37 percent last year. That was on top of a 14 percent increase in 2006, and the trend has accelerated this winter." ... "In some poor countries, desperation is taking hold. Just in the last week, protests have erupted in Pakistan over wheat shortages, and in Indonesia over soybean shortages. Egypt has banned rice exports to keep food at home, and China has put price controls on cooking oil, grain, meat, milk and eggs." ... "According to the F.A.O., food riots have erupted in recent months in Guinea, Mauritania, Mexico, Morocco, Senegal, Uzbekistan and Yemen." ... "A startling change is unfolding in the world’s food markets. Soaring fuel prices have altered the equation for growing food and transporting it across the globe. Huge demand for biofuels has created tension between using land to produce fuel and using it for food." ... "Cooking oil may seem a trifling expense in the West. But in the developing world, cooking oil is an important source of calories and represents one of the biggest cash outlays for poor families, which grow much of their own food but have to buy oil in which to cook it." (1, 2, 3) -By Keith Bradsher with contributions by Andrew Martin, Anand Giridharadas, and Michael Rubenstein -NYTimes

20080117

John Edwards - Hillary Clinton - Barack Obama - Money - Drug - Oil - 2008 Election - Health - Home - Law - Union - Nevada - "Edwards sharpens criticism of Clinton, Obama." ... "[2008 Election Democratic Presidential Candidate] John Edwards sharpened his criticism of Democratic [2008 Election Presidential Candidate] front-runners Hillary Clinton and Barack Obama Thursday night, saying they are helping turn the party into the champion of special interests." ... "“When did our party change? When did we become the party that took more money from drug companies and insurance companies than the Republicans?” Edwards asked." ... "“Not when I'm president of the United States” he told hundreds of supporters who jammed a Reno [Nevada] union hall Thursday night." ... "“The person who raised the most money from oil and gas companies is not a Republican. It's a Democrat. It's [Senator] Sen. Clinton,” Edwards said." ... "The party's 2004 vice presidential candidate said the contributions make his primary opponents beholden to big corporations, causing them to compromise on such things as health care reform and [home] mortgage foreclosures." ... "“You can't take these people's money and challenge them and fight them in a way that is going to be necessary to bring about change,” Edwards said." ... "“We desperately need universal health care for every man, woman and child in this country. Sen. Obama's plan is not universal. It leaves as many as 15 million Americans uncovered,” he said." ... "Edwards said he supports Clinton's call to freeze interest rates for five years and place a moratorium on [home] foreclosures for 90 days but “we have to do more than that.”" ... "“What she has not called for, because the mortgage lending industry is against it, is allowing the bankruptcy court to restructure these loans. We need to give the bankruptcy court the power to restructure these loans,” he said. " -By Scott Sonner with contributions by Ryan Nakashima -AP via -SignOnSanDiego.com

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