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Massive Oil Spill Could Happen Again, Panel Says
By not in system - AOL NewsNEW ORLEANS -- A presidential commission's conclusion on the largest offshore oil spill in history that decisions meant to save time and money created an unreasonable amount of risk won't be the final word on the disaster. But it already has the companies involved with the blown-out well and Deepwater Horizon rig pointing fingers at each other again. In a 48-page excerpt of its final report obtained Wednesday by The Associated Press, the commission described systemic problems within the offshore oil and gas industry and government regulators who oversee it. It also said such a disaster could ...
Key Republicans Vow to Battle White House on Health Care, New EPA Rules
By Bruce Drake - Politics DailyAs the 112th Congress convenes this week in Washington, Republicans are vowing to attack head-on key Obama administration initiatives, including health care reform and increased regulation of greenhouse gas emissions. Rep. Fred Upton of Michigan, who is set to be chairman of the powerful House Energy and Commerce Committee, promised on Sunday an early vote to make good on the GOP promise to try to repeal the health care legislation. Appearing on "Fox News Sunday," Upton said he will also take on the administration's plan to issue new rules through the Environmental Protection Agency limiting ...
After Gulf Blast, Drilling Ban Debate Intensifies
By Laura Parker - AOL News(Sept. 2) -- The explosion and fire on an oil platform in the Gulf of Mexico has intensified the debate over the Obama administration's temporary ban on deepwater drilling in the gulf, even though the accident apparently did not involve drilling and the ban doesn't apply to the installation because it's in shallow water. Still, coming so soon after BP's Deepwater Horizon disaster, calls for extending the moratorium -- or possibly expanding it -- gushed forth before the fire on the platform had been extinguished. Gerald Herbert, AP Boats spray water on an oil and gas platform that exploded ...
Whopping BP Dividend Payment Approved
By David Knowles - Politics DailyShareholders of BP breathed a partial sigh of relief on Tuesday at the news that the embattled oil company will pay out $2.63 billion in dividends for the first quarter of 2010. The bad news for BP investors? Rising political pressure and public outrage are making a second quarter payout far from certain. Despite mounting clean up costs for the Gulf oil spill, and a plummeting stock value, the company says it is on track to pay nearly $10.5 billion in dividends to its shareholders in 2010. That figure is slightly higher than the $10 billion it paid out in 2008 and 2009. In Washington, ...
Health Care Reform: Fasten Your Seatbelts -- Congress is at the Wheel
By Walter Shapiro - Politics DailyThe truest legislative assessment of the prospects for health care reform was uttered by none other than Bette Davis in "All About Eve:" "Fasten your seatbelts. It's going to be a bumpy night." Just when it seemed like Congress was going to slink into its August recess with everything in suspended animation, both Senate and House negotiators reported unexpected progress Wednesday afternoon in easing bills through key committees. ...
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