WASHINGTON (Reuters) – U.S. oil companies will be allowed to drill in more areas of the Gulf of Mexico but won only limited access to the Arctic under the final version of the Obama Administration’s five year drilling plan that was slammed by industry and some environmentalists.
The 2012-2017 plan calls for three potential lease sales in areas offshore Alaska but the auctions would not be held until the final years of the plan because of environmental concerns about operating in the Arctic.
WASHINGTON, June 26 (Reuters) – The Obama Administration
will release its final, five-year blueprint for offshore
drilling o n T hursday and is expected to offer a go-slow approach
to Arctic drilling and keep restricting rigs from operating off
the east and west coasts of the country.
The drilling plan is likely to draw criticism from
Republicans on the campaign trail as too restrictive, while
sparking concern from environmentalists that drilling off Alaska
is too risky.
WASHINGTON (Reuters) – The United States painted a rosier picture than expected for global grain stocks and the U.S. winter wheat crop on Thursday, sending prices in a freefall toward recent-year lows.
The U.S. Agriculture Department projected that, after a larger-than-expected harvest last year, corn and soybean stocks will be much higher at the end of this marketing year than traders had predicted.
WASHINGTON (Reuters) – President Barack Obama had a good week. While still basking from the successful hit on America’s number one enemy, the administration also enjoyed watching oil prices deflate in one of the biggest commodity declines ever.
High oil prices, all those headlines about the “pain at the pump,” had begun to eat away at Obama’s presidency, or at least his campaign. And the Republicans were having a field day, saying the Obama administration was driving up oil prices because of its fussy attention on renewable fuel while wringing its hands over that oil spill in the Gulf (so, 2010 y’know).
WASHINGTON (Reuters) – America’s stockpiles of corn and soybeans will be drawn down to uncomfortably thin levels this year, according to a government report on Wednesday that sent grain prices soaring and added to concerns over surging world food prices.
Dwindling stocks in the world’s biggest food exporter and poor outlooks from other major exporting countries are combining to produce one of the toughest outlooks for prices and supply since 2008.
WASHINGTON (Reuters) – The United States, long the breadbasket to the world, is expected to confirm on Wednesday that its grain stockpiles are the lowest in years, darkening hopes for any quick relief from surging global food prices.
The U.S. Department of Agriculture was expected to show in its monthly crop report a further deterioration in supplies at home, and to forecast how severe weather was hurting harvests from such powerhouses at Argentina and Australia.
CANCUN, Mexico (Reuters) – The world’s governments agreed on Saturday to modest steps to combat climate change and to give more money to poor countries, but they put off until next year tough decisions on cutting greenhouse gas emissions.
The deal includes a Green Climate Fund that would give $100 billion a year in aid to poor nations by 2020, measures to protect tropical forests and ways to share clean energy technologies.
CANCUN, Mexico (Reuters) – Mexico scrambled to break an impasse between rich and poor nations over future cuts in greenhouse gas emissions on Friday as 190-nation climate talks went down to the wire.
“It’s beginning to stack up and I am cautiously optimistic. We are in a much better situation than we were in Copenhagen at this stage of the game last year,” said Chris Huhne, Britain’s energy and climate change secretary.
CANCUN, Mexico (Reuters) – Talks on a 190-nation deal to slow global warming were on a “knife edge” on Thursday as Brazil and Japan expressed guarded hopes of ending a dispute between rich and poor about curbing greenhouse gas emissions.
Negotiators were set to work through the night seeking to end a standoff over the future of the U.N.’s Kyoto Protocol, which binds almost 40 rich nations to curb emissions until 2012, before the final day of the two-week talks on Friday.
CANCUN, Mexico (Reuters) – Talks on a 190-nation deal to fight global warming were on a “knife edge” on Thursday as Bolivia stuck to hardline demands and accused capitalist climate policies of causing genocide.
A deadlock between rich and poor countries on whether to extend the United Nations’ Kyoto Protocol, which obliges almost 40 rich nations to curb greenhouse gas emissions until 2012, continued to overshadow the two-week meeting in Mexico, which is due to end on Friday.