CitizenSugar -- Breaking News, Together.

Briefing Book! Obama Goes Back on First Campaign Promise?

LibertySugar — Thu, 04 Dec 2008 12:30:41 -0800

Obama: How does it make you feel? Obama breaks promise to tax oil company windfall profits. — 23/6
GOP: The comeback party? RNC chair discloses comeback plan that helped Chambliss win. — Politico
Spitzer: The sheriff of Wall Street is back? Fallen Governor Spitzer writes his first column in Slate all about the bailouts. — Slate
Media: Time for a print media bailout? A number of local New England newspapers may get government help, calling into question the meaning of "free press." — Good

US Department of the Interior: Sex, Drugs, and Oil

LibertySugar — Thu, 11 Sep 2008 11:00:00 -0700

The Interior Department, which controls oil and gas collected from US taxpayer-owned coastal waters, has been plagued with shocking ethical abuses, according to a government investigation. Violations range from giving contracts to a retired employee instead of allowing for competitive bidding to substance abuse and promiscuity.

The report states that officials “frequently consumed alcohol at (oil) industry functions, used cocaine and marijuana, and had sexual relationships with oil and gas company representatives.” Officials also allegedly accepted gifts from energy companies that exceed ethics rules, such as golf, meals and drinks, and tickets to a Toby Keith concert. In addition, oil companies were allowed to purchase oil and gas at a lowered price, after they had won contracts.

The alleged ethics mayhem took place in the Mineral Management Service (MMS) and Royalty In Kind Programs. The MMS brings in $10 billion for the federal government each year. It's the second biggest revenue maker after taxes. To find out what the investigation recommends now,

Front Page: McCain Set to Announce Palin as VP, Iraq Signs $3 Billion Oil Deal, Mexico's Court Upholds Abortion

CitizenSugar — Fri, 29 Aug 2008 08:05:56 -0700

McCain Set to Pick Palin as VP: According to sources close to the campaign, John McCain has picked Alaska Gov. Sarah Palin to be his running mate. A formal announcement is expected shortly at a campaign rally in Ohio. A 44-year-old mom, Palin flew overnight to an airport in Ohio near Dayton, thought to be awaiting her formal introduction.

Mexico's Court Upholds Abortion:
Mexico's Supreme Court has voted to uphold legal abortion in Mexico City, keeping the city one of only a few places in Latin America that allow abortion without limitations in the first trimester. The Roman Catholic church blasted the 8-3 decision announcing that they will redouble their fight against it.

Iraq Signs $3 Billion Oil Deal:
Iraq has signed a $3 billion oil deal with China, its first oil deal with a foreign country since 2003. The contract is pending approval by the Iraqi cabinet, but if passed work could begin on the oil field in a few months. The 22-year contract is a new version of a 1997 contract with China began under Saddam Hussein.

Source

Energy Imperialism? Is the Georgian Conflict All About Oil?

CitizenSugar — Mon, 18 Aug 2008 15:37:41 -0700

Energy Imperialism? Is the Georgian Conflict All About Oil? Could the Kremlin's latest bid for energy dominance boomerang and finally wake up the West? The prevailing wisdom says Russia's military incursion into Georgia was really all about "energy imperialism." The Kremlin doesn't like any challenges to its energy hegemony, which Georgia's part of the BTC pipeline clearly represents. And Russia's strong response, the thinking goes, basically ends any Western hopes of getting other Central Asian countries to stand up to Moscow with pipeline projects of their own.

Iraq Has $79 Billion Surplus — What's the US Deficit Again?

LibertySugar — Wed, 06 Aug 2008 12:15:00 -0700

Thanks to rising oil prices, Iraq will enjoy a $79 billion surplus by the end of the year, according to a report requested by a bipartisan group of senators. While the US has spent $48 billion in American taxpayer money on Iraq's reconstruction since 2005, Iraq has spent only a fraction of its oil revenue on reconstruction projects. And, Iraq spent only 1 percent of its 2005-2007 budget to maintain existing projects already funded by Americans or Iraqis. Thus, preinvasion promises that Iraqi oil money would finance the rebuilding of Iraq have gone unfulfilled.

The Central Bank of Iraq cites a lack of expertise in Iraqi ministries along with security problems as reasons for the lack of spending. There seems to be a vicious cycle: Iraq can't use its money to increase security because there's not enough security.

Congressional Democrats have already called for Iraq to spend its own money on reconstruction. Since the US just predicted a record $489 billion deficit for 2009, hopefully Iraq's windfall surplus will be put to use soon. Should Americans struggling with rising oil prices be frustrated that Iraq is sitting on oil profits while America pays for the reconstruction?

Source

Does Obama's Shift on Offshore Drilling Make You Shift Too?

LibertySugar — Mon, 04 Aug 2008 06:00:20 -0700

Dragging his feet this weekend, Barack Obama changed his tune on offshore drilling. Obama said he would be willing to support drilling in the Gulf of Mexico, in exchange for a comprehensive alternative energy plan which would include ending oil company tax breaks, and extending tax credits to those searching for alternative fuels. Explaining his shift, Obama said: "What I will not do, and this has always been my position, is to support a plan that suggests this drilling is the answer to our energy problems. If we've got a plan on the table that I think meets the goals that America has to set and there are some things in there that I don't like, then obviously that's something that I would consider because that's the nature of how we govern in a democracy."Since the majority of you said you opposed offshore drilling last time I asked, I'm curious if Obama's plan sounds more appealing to you. Source

Does Obama's Shift on Offshore Drilling Make You Shift Too?

No! "Compromises" only help the entrenched interests, aka the oil companies.

Yes! If we want energy independence the political parties have to work together.

Yes! Obama's plan is different because it would encourage alternative energy.

No. I've always thought America should take advantage of all its oil resources.

Other. I'll tell you in the comments.

Front Page: Cancer Director Warns of Cell Phones, House Passes Housing Relief, Libya Cuts Off Swiss Oil

CitizenSugar — Thu, 24 Jul 2008 06:59:01 -0700

Cancer Director Warns of Cell Phones:
The director of a leading US cancer research institute just sent a memo to thousands of his staff cautioning of possible higher risks from cell phone use. He said waiting for definitive studies was folly and that action should be taken now. Children should use cell phones only in emergencies, and adults need to keep the phone away from the head. The warning is based on early findings from not yet published data.

House Passes Housing Relief:
The House approved help for the US housing market, including protection for two of the largest mortgage finance companies. It includes a bold plan to help hundreds of thousands of struggling consumers avoid foreclosure by refinancing their mortgages with more affordable government-insured loans. Bush has said he will sign the bill once it passes the Senate, perhaps by Saturday.
Libya Cuts Off Swiss Oil:
Libya says it has stopped oil shipments to Switzerland to protest the brief arrest of leader Muammar Gaddafi's son. The country has threatened further punishment if the Swiss don't apologize. The Swiss police held Hannibal Gaddafi for two days after he and his pregnant wife allegedly assaulted Swiss officers. The move could prove costly for both parties as Switzerland gets half of its oil from Libya, and Libya has a huge oil refinery in Switzerland.

Source

Bush Readies the Offshore Drill, Should Congress Say Yes?

LibertySugar — Tue, 15 Jul 2008 06:00:06 -0700

President Bush thinks offshore drilling might be the Nicorette gum America needs to kick its oil addiction. Yesterday Bush lifted the executive ban on offshore drilling imposed by his father, removing one hurdle for exploration. Bush explained:"This means that the only thing standing between the American people and these vast oil resources is action from the US Congress. Now the ball is squarely in Congress's court."Answering Bush, Speaker Nancy Pelosi said:

“Once again, the oilman in the White House is echoing the demands of Big Oil. The Bush plan is a hoax. It will neither reduce gas prices nor increase energy independence."

Considering the current oil crisis, Bush thinks America has no choice but to take advantage of its own resources. Opponents fear environmental impact, and say the plan would take a decade to produce results, while ignoring alternative energy priorities. Senate Majority Leader Harry Reid says oil companies should explore the 68 millions of acres already available. Should Congress follow the President's lead? Source

Bush Readies the Offshore Drill, Should Congress Say Yes?

Yay! America must take advantage of all its oil resources, while trying to kick the habit.

Nay. Long-term solutions should help us kick our oil addiction, not feed it.

Other. I'll tell you in the comments.

T. Boone Pickens Is Going to Save the Economy With Hot Air

CitizenSugar — Tue, 08 Jul 2008 12:15:44 -0700

I'm saying it right now: T. Boone Pickens for president. The former oil-man-billionaire-turned-wind-power revolutionary is suddenly everywhere and it's like a breath of fresh air. Pickens of his eponymous Pickens Plan is building the world's largest wind farm. His website, which launched today, is determined to shock the US into becoming the Saudi Arabia of wind.

The hemorrhaging of $700 billion dollars a year, an increase of about 50 percent more reliance on foreign imports since the 1970s, is ruining our country. Pickens says, "I've been an oil man my whole life, but this is one emergency we can't drill our way out of."

To see a consciousness-rocking explanation of the Pickens Plan by T. Boone himself (oh, and also changing my name to T. Boone)

Russia Lectures US: You're in No Position to Give Advice

LibertySugar — Thu, 03 Jul 2008 14:00:30 -0700

Russian President Dmitri A. Medvedev is in no mood to listen to US criticism about the state of human rights or democracy in Russia. This week he said that the US was "essentially in a depression" and thus in no shape to tell other countries what to do.

During an interview with foreign journalists, one reporter asked the president about John McCain's proposal to expel Russia from the G8 for its record on democracy. Medvedev offered a lesson in international relations: "The Group of 8 exists not because someone likes or dislikes it, but because objectively, they are the biggest world economies and the most serious players from the foreign policy point of view." Little more than a decade after communism fell and left Russia in economic shambles, lucrative oil exports have made Russia economically, and geopolitically, confident.

Gas-station-side prayer vigils across America, organized by the Prayer at the Pump movement, might be giving Medvedev the evidence he needs to make such statements. For more on God and gas,

North Dakota Oil Creating 'Overnight Millionaires'

CitizenSugar — Tue, 01 Jul 2008 12:10:44 -0700

North Dakota Oil Creating 'Overnight Millionaires'
In less than a year, Stohler and his wife, Lorene, 82, have become millionaires from the production of one well on their land. The US Geological Survey calls it the largest continuous oil accumulation it has ever assessed. Landowners in western North Dakota have a much better chance of striking it rich from oil than they do playing the lottery, say the Stohlers. Some of their neighbors have become "overnight millionaires" from oil royalty payments. "It's the easiest money we've ever made," said Lorene Stohler.

Americans Provided Iraqi Oil Ministry Contract Templates

LibertySugar — Mon, 30 Jun 2008 14:30:18 -0700

Despite previous confirmation that it would award exceptional no-bid contracts to Western oil giants, Iraq just announced that it has failed to sign the deals. Meanwhile, American officials have confirmed that the Bush Administration was directly involved in the creation of the contracts, as American advisers led by a State Department team directly advised Iraqi officials. But today, Iraq announced that it failed to finalize the deals as expected, because the oil companies "refused to offer consultancy based fees as they wanted a share of the oil."

American government lawyers and private sector consultants provided the Iraqi Oil Ministry sample contracts, and offered detailed suggestions during the drafting process. Sources told the New York Times that assistance was simply technical and legal, and that the team did not help choose which companies received the lucrative deals. Still, the close involvement raises questions of an inherent conflict of interest and about America's commitment to Iraqi sovereignty. Although Iraq says it continues to negotiate with Western oil giants, they "think there is no need to share Iraq's oil with anybody."

Even if the US only provided technical direction, does a perception of inappropriate intrusion threaten America's credibility in the region? Does this inflame suspicions that the US went to war for oil?

Source

Western Oil Companies Back in Iraq With Unusual Contracts

LibertySugar — Thu, 19 Jun 2008 11:02:44 -0700

Thirty-six years after Saddam Hussein nationalized oil and kicked out Western companies, Iraq's Oil Ministry has awarded Exxon Mobil, Shell, Total, and BP contracts set to bring the oil giants back.

Despite the fact that high oil prices put these contracts in high demand, Iraq granted very unusual no-bid contracts, meaning the companies did not have to compete with their counterparts in China, Russia, and India. Today's New York Times explains:

There was suspicion among many in the Arab world and among parts of the American public that the United States had gone to war in Iraq precisely to secure the oil wealth these contracts seek to extract. The Bush administration has said that the war was necessary to combat terrorism. It is not clear what role the United States played in awarding the contracts; there are still American advisers to Iraq’s Oil Ministry.

The oil companies assure that they intend to help Iraq rebuild its neglected oil infrastructure. To see how,

Republicans Block Extra Taxes On Oil Companies

LibertySugar — Tue, 10 Jun 2008 10:50:00 -0700

Republicans Block Extra Taxes on Oil Companies
Senate Republicans blocked a proposal to tax the windfall profits of the largest oil companies, despite pleas by Democratic leaders to use the measure to address America's anger over $4 a gallon gasoline. The Democratic energy package would have imposed a tax on any "unreasonable" profits of the five largest US oil companies and given the federal government more power to address oil market speculation. Republicans argued that an increased tax would increase imports.

Pricey Country Roads: Gas Prices Hit Rural Americans Harder

LibertySugar — Mon, 09 Jun 2008 15:45:59 -0700

Americans everywhere are shocked and stressed as gas reaches the all-time high with the national average at $4 per gallon. But, common outrage does not mean common hardship. High gas prices impact rural USA the worst.

Those living outside cities are facing tough decisions, especially in the Southeast where public transportation is lacking and commute distances are sprawling. For farm workers, sports-utility vehicles actually have some utility; but, it's much more costly to fill up pick-up trucks and vans. To adjust, some are cutting back on meat, others are borrowing money for gas, and some are searching for scarce jobs closer to home.

Faraway from rural America, Saudi Arabia is calling for a summit on astronomical oil prices. The Saudi Information and Culture Minister said that the kingdom wants to ensure that there are no unwarranted or unnatural oil price hikes that could impact international economies, especially those of developing countries.

Perhaps oil producers like Saudi Arabia are worried that high prices will force people to reduce their demand. Hearing about the struggles in rural America, it's difficult to imagine how consumers won't try to kick their oil addiction as soon as possible.

Source

Saudi Arabia Donates $500 Million to Help Food Crisis

LibertySugar — Sat, 24 May 2008 11:00:52 -0700

Saudi Arabia made an impressive $500 million donation to the United Nations World Food Program, the UN announced Friday.

The country, benefiting from high oil prices while many others feel the pinch, is doing its part to help assuage the developing global crisis caused by rising food prices. The effects have been seen all over the world. In Mexico, the government is preparing for a backlash against rising tortilla prices, in Suburbia, USA, big box stores have rationed staples, and in Haiti the government collapsed over the crisis.

Saudi Arabia produces 9 million barrels of oil a day and oil prices have now topped $130 a barrel. You don't even have to do the math to know that's a whole lot of revenue.

The UN World Food Program, the world's largest humanitarian operation, set a goal of $755 million to be raised by all its member agencies. Thirty-two countries added to the Saudi donation, contributing a total of $960 million, exceeding the target significantly. Hopefully the money will quickly help the 130 million of people in hunger as a result of rising food prices.

Source

Front Page: Ban Ki-Moon in Myanmar, Oil Spikes Three Days, Farm Bill and Tax Package

CitizenSugar — Thu, 22 May 2008 07:00:48 -0700

Ban Ki-Moon in Myanmar: UN Secretary-General Ban Ki-moon has begun his tour the devastated Irrawaddy Delta in Myanmar. He is set to meet with military ruler Gen Than Shwe hoping to persuade the government to accept more aid for cyclone victims. So far the government has blocked large-scale international assistance, and foreign agencies say they are able to deliver just 30 percent of what they would like. The death toll from Cyclone Nargis is currently 78,000 dead, with another 56,000 missing. The UN says that fewer than a 25 percent of the 2.4 million people affected have received aid.

Oil Spikes Three Days: Oil cost attained a new record for highest price for a third straight day, topping $135 a barrel. OPEC producer Saudi Arabia last week said it had raised production by 300,000 barrels per day, but the news had minimal impact on the market.
Farm Bill and Tax Package: The House voted 316-to-108 to override President Bush's veto of the Farm Bill. The vote was well over the two-thirds needed. Bush said in his veto announcement, “for a year and a half, I have consistently asked that the Congress pass a good farm bill that I can sign. Regrettably, the Congress has failed to do so. At a time of high food prices and record farm income, this bill lacks program reform and fiscal discipline.” The House also passed a $54 billion tax package. The measure renews tax breaks that have expired or will expire soon and provides new tax relief in the form of child tax-credits and breaks for renewable energy.

The Story Fueling Our Gas Woes. Is Gas Your #1 Concern?

CitizenSugar — Tue, 29 Apr 2008 08:00:16 -0700

If a trip to the gas station has left your wallet lighter than air, it's comforting to know someone's getting fat off of fuel costs: Big Oil. BP and Royal Dutch Shell just reported massive increases in profits for the first three months of 2008. BP's gross (that's an understatement) profits rose 48 percent in the first quarter to $6.6 billion while Shell increased its profits 12 percent to a record $7.8 billion.Surely their good fortune driven by the rising oil prices has made them generous? Nope. The companies have passed growing costs right on to consumers to shell out big bucks at the pump. We've reached the top (or bottom) though, right? Well, the head of OPEC has just warned that the price of oil could hit $200 a barrel. And pity your friends in the UK — speculation is likely to push petrol to £5 (that's about $10) a gallon today. I say, "ouch!" ol' chap.

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One positive gas-goody (?): It's bringing Clinton and McCain together. Clinton has just joined McCain calling for gas tax relief saying, “This is one of the big differences in this race. My opponent Senator Obama opposes giving consumers a break on the gas tax at the federal level. I support it. I understand the American people need some relief.”

A recent survey shows gas is the #1 concern, over jobs and health care with 44 percent of participants saying paying for gasoline was a "serious problem" for them. Is it for you? Is fueling your life a serious problem? Are you surprised by the record profits? Should Big Oil be involved in a solution?

The Story Fueling Our Gas Woes. Is Gas Your #1 Concern?

It's the root of all my problems. Food prices, the housing crash are because of the pump.

It's not #1, but it's certainly a huge concern.

The gas situation isn't fun, but I'll pay to play. I like that it makes me get out of my car.

Big Oil raked in record profits!? That's my #1 concern!

Other. Don't start the meter yet! I'll tell you in the comments.

Oil Will Rule the World

LibertySugar — Wed, 16 Apr 2008 14:30:55 -0700

A recent Mother Jones article explored our new energy-centric world order, in which "the price of oil will dominate our lives and power will reside in the hands of those who control its global distribution."

The intro explains that energy lies behind front-page headlines that might seem to be about an unrelated topic. For example, energy issues can explain the current food shortage and riots. Too many acres turned over to corn for biofuels; a drought in Australia and other climate change-induced weather; China's growing middle class's desire for meat, a food which uses much petroleum to produce — all contribute to the current food crisis.

Author Michael T. Klark says there are five key forces in a new energy world order that will change our planet. Including:

Intense competition between older and newer economic powers for available supplies of energy. These rising economic powers (think China) will have to compete with the mature economic powers for access to remaining untapped reserves of exportable energy.

To see the rest,