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...high of $14 per thousand cubic feet, the domestic energy sector is now at a critical "tipping point," Perryman says. If prices dip lower, he adds, the pace of the slowdown will quicken as domestic oil and gas fields that demand expensive, high-technology drilling methods will be shut. (See pictures of the remains of Detroit...
...that could soon change as the economics turn dark for the energy sector. High prices bankroll high-cost production and fund technology improvements that make hard-to-reach minerals accessible, while low prices mean wells with high production costs are shut in. The threshold price for oil-operations expansion is around $50 a barrel, according to Combs. "This constant roller coaster [in prices] is something the industry is really getting sick of," Ingham says. (Read "Web-Savvy Homeowners vs. Landmen...
...auto companies then did their part, with Chrysler recently announcing it would shut down operations for a full month, raising the threat of catastrophic liquidation if someone in Washington didn't cough up some money. Bush's hand was forced. In theory, the job of saving the car companies would have gone to the Commerce Department, but its chief, Carlos Gutierrez, doesn't have access to the kind of money Detroit needs, so Bush gave the job to Treasury Secretary Hank Paulson...
Brzezinski, Mika •inability of to get Joe Scarborough to shut up already about mugging...
...Although President George W. Bush has repeatedly said he wants to shut the Guantánamo camp, he reportedly turned down a proposal by Defense Secretary Robert Gates to bring the detainees to the U.S. And five years of cajoling European nations to take in detainees has had little success - only Albania had responded until now, accepting five Muslim Uighurs from China's Xinjiang region...