Word: dubai
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...Public support for his policies is dwindling; his own party is abandoning him; he seems naked, defenseless in the public square. Yet he has spent most of the past few weeks traveling the country, selling the vaporous "policies" he proposed in his State of the Union address. As the Dubai debate went nuclear, Bush was off trying to convince people that he was serious about developing alternative energy sources. (He isn't, really. His proposed budget increases for such projects run in the millions; a single tax break for oil companies proposed in the Interior Department's budget-a reduction...
Moving toward a deal that could allow President Bush and congressional GOP leaders to save face and avert a prolonged confrontation, GOP officials said today that they were discussing the idea of having Dubai Ports World seek a new review of its acquisition of a British company's operation that runs several key U.S. ports...
...House Homeland Security Committee Chairman Peter King confirmed in a phone interview early Saturday afternoon to TIME that officials were close to a deal involving the Congressional leadership, the White House and the Dubai company. The agreement would call for a 45-day ?CFIUS-plus investigation,? King said, referring to the Committee on Foreign Investment in the United States, a Treasury Department-run interagency panel that probes proposed acquisitions...
...Although the Dubai deal had already been approved by CFIUS, "the rationale for reopening it is, once DP carved out the American ports from the rest of the contract it changed the nature of the agreement so it had to be reviewed again," says King, who had been among the leading GOP voices opposing the deal as first approved without the extra 45-day review process or briefing of Congress. King says will await final details before formally backing any such deal. King added "If we are going to hold back on legislation, I think there has to be continuous...
...approved by all parties, the new deal would allow Bush to avert a GOP-driven bill to overturn the Dubai deal with enough votes to override Bush's threat of his first veto. Republican sources tell TIME that Senate Majority Leader Bill Frist of Tennessee proposed the basic terms of a deal designed to give the White House a graceful way out, while also allaying the concerns of the many lawmakers in both parties who have said the deal could be a threat to our security. Under the Frist plan, the deal could stand a good chance of ultimately going...