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...production rate for an indefinite period of time is hardly a certainty. The Ghawar, Abqaiq and Berri fields (which still make up about 90% of Saudi Arabia's light crude) now pump oil from water-injection wells--essentially the low-hanging fruit. Once that ends, oil production in those key fields will decline, and the declines could be steep. The two other giant fields producing lesser-quality oil are subject to this same risk. Quantifying the timing and the magnitude of the pending drop is impossible based on the skimpy data Saudi Arabia now discloses. But the risk is real...
...ramifications of this housing and credit debacle now look far worse than previously expected. Housing sales and starts are down sharply, while shares in everything from homebuilders to banks to mortgage insurers have been massacred. Moreover, there's a deepening fear that U.S. consumers - a key driver of global economic growth - might dramatically pare back their spending in the wake of this assault upon their wealth and confidence. In a recent letter to shareholders, legendary U.S. money manager Bill Miller warned: "The difference between what is unfolding now and the Crash of '87, or the problems with Long-Term Capital...
...three-year visas issued to high skill professionals and students—are preventing many valuable workers, including foreign graduates of American universities, from contributing to the American economy. Strangely enough, until last week it seemed that the government was moving in the wrong direction on this key issue. In late October, Senator Charles Grassley (R-IA) slipped an amendment into an appropriations bill that would have raised the fee employers pay to obtain an H-1B for an employee from $1,500 to $5,000. Thankfully, the provision, which would have taxed companies for trying to recruit top talent...
...result of this year’s rules, many HoCos are planning lower-key events than in the past, and alcohol is notably absent from some of them. In addition, the only music allowed will be provided by a Yale student...
...ranked 19th nationally, above .500 for the first time since the 2005-06 season. “Every night, he’s making two or three saves that are difference-makers,” said head coach Ted Donato ’91. “The one key way to erase a lot of mistakes is by having a great performance in the net, and Kyle’s given us that so far this season.” Richter played with a 1-0 lead into the third period against Rensselaer on Friday night, surviving several Engineer...