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ExxonMobil spokesman Kevin Allexon told TIME that the company "shares concerns about the challenge of meeting the winter heating needs of those who cannot afford the cost." But "it is our view that government programs to assist low-income families with their heating-oil requirements are the best way to address these needs." Allexon is referring specifically to LIHEAP, the federal Low Income Home Energy Assistance Program. It is supposed to provide about $5 billion in home-heating-fuel aid, but in recent years it has seen only half that. President Bush even tried to reduce fiscal 2009 LIHEAP funding...
...just as important, say advocates, that one or more U.S. oil companies pitch in alongside Citgo. President-elect Barack Obama pledged during his campaign last year to force something similar: a windfall-oil-profits tax that would effectively make Big Oil fork over an "emergency energy rebate" for low-income households. But as his Jan. 20 Inauguration approaches, Obama seems to be backing...
...wrote in her Guggenheim biography. While she was on the train home from New Delhi for the holidays, Banaji purchased five volumes of the Handbook of Social Psychology edited by Lindzey and Aronson, for five dollars, lured not so much by the books’ content as by their low price. By the time she arrived home 24 hours later, she had already devoured an entire volume. She says the combination of a focus on social process with an experimental approach presented by the book particularly appealed...
With the national unemployment rate nearing 7 percent—a figure not seen in the U.S. since 1993—several states have seen their unemployment insurance trust funds shrink to dangerously low levels, with some states already taking out federal loans to pay unemployment benefits. But Massachusetts’ unemployment benefit system remains “strong and solvent” for the foreseeable future, bolstered by over $1 billion in trust fund reserves, according to Robb Smith, director of Policy and Planning for the Mass. Labor and Workforce Development Office. From January through November 2008, the state...
...Sasaki attributes the yen's recent strength to the unwinding of the yen carry trade, referring to the widespread practice by investors over the past several years of borrowing yen at a low interest rate and investing the funds in currencies paying higher interest rates. That was an easy way to make money until central bankers in the U.S. and other countries began slashing borrowing costs as the credit crunch hit and their economies faltered. The carry trade "is a very strong and powerful movement, and it's difficult to stop it," Sasaki says. "I think that Japanese officials understand...