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...Interior Ken Salazar has indicated that he will review oil and gas leases for Arctic waters, and for now, the sudden drop in the price of oil has blunted some of the impetus to drill. Although Salazar is in no rush to go fishing for petroleum, as soon as the world economy recovers, so will demand for oil and the pressure to drill offshore in Alaska. And that pressure will surely only grow as climate change causes the Arctic ice to recede. But that is precisely the lesson that must be remembered from the Exxon Valdez: that some parts...
...Katherine Potter, a spokeswoman for Ausra, the company proposing the solar thermal plant, insists that large-scale solar is needed, and soon. "There is certainly a good place for distributed generation, but to ensure the reliability of the grid, you do need large-scale power generation," she says, explaining that solar thermal is the most efficient renewable energy source available in terms of the amount of land used...
...significant built-in margin of error. Still, in an interview Friday, Peter Orszag, Obama's Budget Director, admitted that long-term deficits projected by the CBO "would lead to rising debt-to-GDP ratios in a manner that would ultimately not be sustainable." He was not alone. As soon as the report came out, even Democrats who support the President's policies said that the budget would have to be rethought. "We have got to get back to a more sustainable fiscal circumstance," said Sen. Kent Conrad, the Democratic chairman of the Senate Budget Committee on ABC's This Week...
...that "free lunch" ends, according to those same economic theories, as soon as the economy recovers, and sustained deficits revert to dangers that can damage economic growth. "In terms of getting our act together, we are certainly going to be facing the longer term in a bad position," said Alan Auerbach, an economist at U.C. Berkeley, about the latest round of CBO estimates...
...Considering how much they spent for a meal they couldn't keep down, stricken customers have been asking if they can expect compensation any time soon. But the restaurant is taking a wait-and-see approach. "The discussion regarding any need for some sort of compensation will only happen when the investigation is complete," says Jo Livingston, a spokeswoman for The Fat Duck...