Word: barrell
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...Once oil prices started to cascade from over $141 a barrel this last summer to well below $40, OPEC knew that its members would not be able to support their own economies which, in many cases rely almost entirely on income from crude sales. Russia, which is not a member of the cartel, is facing similar trouble, so the incentive to move oil back toward $70 gets greater as each day passes. (See pictures...
...Compact Summers' immediate task is to convince skeptical Senators that shelling out nearly $1 trillion over two years isn't another exercise in traditional pork-barrel spending but a vital step needed to save jobs and invest in the future. Some Republicans call the current plan wasteful; free-spending Democrats long for more investments over years, not months. Summers argues that the stimulus bill splits the difference: not only will most of the money go to reviving the economy in the next 18 months, but much of it will also go to projects that could save money over the long...
...reads basic economics anymore. It has been widely understood for centuries that government does not create wealth; it merely redistributes it. The stimulus plan can be summarized as follows: we are going to borrow a trillion dollars from foreigners and spend it on a mile-long list of pork-barrel projects that we don't immediately need (or else we would have found another way to pay for them) and hope this gets us out of the recession. Did I miss something? There is a growing consensus among historians and economists that World War II, not the New Deal...
...center of it is Abu Dhabi's own Masdar Initiative - named after the city of Masdar, a newly built green metropolis designed to be a center for clean technology. Even though the petroleum-rich emirate is suffering through plummeting oil prices - now a little over $40 a barrel, down a hundred dollars from a half a year ago - its leaders say they remain committed to expanding Masdar. "The current financial crisis has absolutely no impact on our planned projects," says Sultan Ahmed Al Jaber, Masdar's imposing CEO. "Our appetite is still the same." (See the top 10 green ideas...
Following the announcement that Crate and Barrel will shut its doors this weekend, Brattle Street is poised to lose two more businesses with the closing of cosmetics store Beauty and Main and business accessories store Cross...