Word: seaboarders
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President Obama announced a plan March 31 that would allow oil drilling 50 miles off the coast of Virginia and encourage exploration for future drilling sites along the Eastern seaboard and northern Alaska. (The Pacific Ocean and Bristol Bay are off-limits.) Obama called the drilling leases, the first of their kind in two decades, a "balance" between the country's future oil needs and a desire to protect its natural resources. The proposal was largely seen as an effort to court GOP support for an upcoming climate-change bill...
...mortgage rates and the home-buyer tax-credit program. New and existing home sales fell 2.2% and 0.6% respectively from January to February, and unsold inventory rose 9.5% during the same period. Some of February's sluggishness could be explained by cold, snowy weather that blasted the Eastern seaboard, but the precise impact of this is hard to know...
...relies on the great European voyages of exploration of the previous 120 years. Unsurprisingly, those areas that had already been settled by Europeans are drawn in greatest detail: the coastline of Mexico, right up to Baja California, for example, is astonishingly accurate, while that of the Northeastern seaboard of North America is much less so. (See 25 more asian experiences...
What makes this study unique, says Dailey, is that it takes all of these effects into consideration. The result is a map of the Eastern U.S. seaboard that calculates plausible, albeit oversimplified, numbers for the increased damage that storm surges could cause. An overall round number, says Hoffman, is a 20% increase. But it would be higher in some areas - as much as 100% - and lower in others. In general, in a place like Louisiana, which is already at high risk, the increase would be smaller, and vice versa for places like Long Island and Connecticut, where the relative rarity...
...subsidies aimed at low-income home buyers. But the bulk of the tax benefits flow to the upper end of the income spectrum. And to the coasts as well: a study by two Wharton School economists found that homeowners in high-priced regions in California and on the Eastern seaboard suck up most of the gains...