Ben S. Bernanke, chairman of the Federal Reserve has said that extending tax cuts which were established under George W. Bush would add to the economic stimulus necessary to get the U.S. economy back on track. Bernanke also stressed that this Bush-tax-extending was but one way to garner stimulus. “In the short term I would [...]
According to President Obama, BP‘s latest attempt to cap the leaking oil well that has already spewed an enormous amount of oil into the Gulf of Mexico, has for the time being successfully contained the oil leak. Although this might appear as a triumphant success after months of failed attempts to stop the leak, the [...]
Rolling Stone is a popular magazine in the United States as it feature stories about politics, music, culture and the like. Last summer, 2008, the magazine founder Jann Wenner made an interview with Barack Obama. The magazine supported him during campaign financially. Wenner’s admiration to Obama made him said that they would watch after Obama’s governance with so much admiration [...]
It has recently come to light that Martin Feldman, the Louisiana judge who overruled President Obama‘s deepwater oil drilling ban on the premise that it was not justified in assuming that all deepwater drilling is as risky as BP’s was. owns shares in Transocean as well as other oil drilling companies. While the White House [...]
On Tuesday, President Obama held a meeting with the CEOs of over a dozen major insurance companies to warn them not to try to take advantage of certain policies in the new health reform legislation. There are certain features of the the legislation that will cause insurance premiums to rise naturally. For example, as younger [...]
On Tuesday, President Obama was criticized for his ban on deepwater drilling by oil executives. Their beef with the ban, aside from the loss in profits their respective companies stood to lose, was that there were not enough alternative sources of oil available to justify a ban of deepwater drilling. According to Steven Newman, president [...]
The president of British Petroleum (BP), Carl-Henric Svanberg, announced yesterday that the company will suspend payment of quarterly dividends this year to meet expenses incurred by the oil spill in the Gulf of Mexico. “The BP board of directors decided not to pay more dividends this year,” Svanberg said after meeting, along with other senior [...]
According to President Barack Obama, the U.S. economy is strengthening based on a gain of 431,000 jobs in May this year. “This report is a sign that our economy is getting stronger by the day,” the President said. “A lot of businesses that were hit hard during this downturn, they are starting to hire again. [...]
Tony Hayward, head of British Oil Company BP who are heading the cleanup efforts in the Gulf of Mexico, has recently stated that the oil spill still taking place off the coast of Louisiana represents an “environmental catastrophe.” While being lamely interrogated by some CNN personality, Hayward responded frankly that the spill was a “very [...]
On the back of increasing awareness and urgency over the Deepwater Horizon oil spill in the Gulf of Mexic0 (which President Obama has recently taken responsibility for) it would seem that many tourists are considering alternative R&R destinations for fear of oily Gulf beaches; however, hotels across Alabama, Florida, and Mississippi are trying to assure [...]