Expensive oil hurts. But there's a business case to be made for a floor under the price of crude. All eyes are on the price of oil these days. But could expensive crude be a good thing? Amite Foundry & Machine is one of those gritty manufacturers at the heart of American industrial might. The Louisiana company's fiery 2,800F furnaces melt down hunks of recycled scrap steel and recast them into massive parts for trucks, oil rigs, and other heavy equipment. Amite even turned 30 tons of metal from the World Trade Center into the bow of the Navy's USS New York. But the company suffered as manufacturing moved offshore, and the town of Amite, 65 miles north of New Orleans, with its faded white clapboard churches and a main street that time forgot, has suffered along with it. No more. Amite Foundry's orders jumped 25 percent in 2007 and 30 percent more so far this year, spurring the company to hire dozens of workers. Why the turnaround? The price of oil. With the cost of a barrel of crude well north of $120, anything that can provide additional supplies, alternatives, or gains in energy efficiency is booming. One example: Canada's oil sands. They're boosting sales of Caterpillar's 380-ton-capacity mining trucks--and Caterpillar uses nearly 50 tons of Amite's steel castings per vehicle. Sure, increased energy and commodity costs make it more expensive to produce and ship steel, says Roy Roux, sales chief at parent Ameri-Cast Technologies, but "high oil prices are mostly good for us."
Expensive oil hurts. But there's a business case to be made for a floor under the price of crude.
All eyes are on the price of oil these days. But could expensive crude be a good thing? Amite Foundry & Machine is one of those gritty manufacturers at the heart of American industrial might. The Louisiana company's fiery 2,800F furnaces melt down hunks of recycled scrap steel and recast them into massive parts for trucks, oil rigs, and other heavy equipment. Amite even turned 30 tons of metal from the World Trade Center into the bow of the Navy's USS New York. But the company suffered as manufacturing moved offshore, and the town of Amite, 65 miles north of New Orleans, with its faded white clapboard churches and a main street that time forgot, has suffered along with it.
No more. Amite Foundry's orders jumped 25 percent in 2007 and 30 percent more so far this year, spurring the company to hire dozens of workers. Why the turnaround? The price of oil. With the cost of a barrel of crude well north of $120, anything that can provide additional supplies, alternatives, or gains in energy efficiency is booming. One example: Canada's oil sands. They're boosting sales of Caterpillar's 380-ton-capacity mining trucks--and Caterpillar uses nearly 50 tons of Amite's steel castings per vehicle. Sure, increased energy and commodity costs make it more expensive to produce and ship steel, says Roy Roux, sales chief at parent Ameri-Cast Technologies, but "high oil prices are mostly good for us."
The Arctic may contain as much as a fifth of the world's yet to-be-discovered oil and natural gas reserves, the United States Geological Survey said Wednesday as it unveiled the largest-ever survey of petroleum resources north of the Arctic Circle. Oil companies have long suspected that the Arctic contained substantial energy resources, and have been spending billions recently to get their hands on tracts for exploration. As melting ice caps have opened up prospects that were once considered too harsh to explore, a race has begun among Arctic nations, including the United States, Russia, and Canada, for control of these resources. The geological agency's survey largely vindicates the rising interest. It suggests that most of the yet-to-be found resources are not under the North Pole but much closer to shore, in regions that are not subject to territorial dispute. "For a variety of reasons, the possibility of oil and gas exploration in the Arctic has become much less hypothetical than it once was," Donald Gautier, the chief geologist for the survey, said during a news conference Wednesday. "Most of the resources are on the continental shelf in areas already under territorial claims."
The Arctic may contain as much as a fifth of the world's yet to-be-discovered oil and natural gas reserves, the United States Geological Survey said Wednesday as it unveiled the largest-ever survey of petroleum resources north of the Arctic Circle.
Oil companies have long suspected that the Arctic contained substantial energy resources, and have been spending billions recently to get their hands on tracts for exploration. As melting ice caps have opened up prospects that were once considered too harsh to explore, a race has begun among Arctic nations, including the United States, Russia, and Canada, for control of these resources.
The geological agency's survey largely vindicates the rising interest. It suggests that most of the yet-to-be found resources are not under the North Pole but much closer to shore, in regions that are not subject to territorial dispute.
"For a variety of reasons, the possibility of oil and gas exploration in the Arctic has become much less hypothetical than it once was," Donald Gautier, the chief geologist for the survey, said during a news conference Wednesday. "Most of the resources are on the continental shelf in areas already under territorial claims."
NEW YORK: The race for petroleum resources above the Arctic Circle is likely to speed up in coming years, as the polar ice cap melts and access to oil and gas reserves in many other places around the world becomes more challenging. The lure of the Arctic as oil's next big frontier was vindicated this week as a major geological survey found the region might hold as much as a fifth of the world's yet to-be-discovered oil and natural gas reserves. Many of these new resources, according to the survey, are to be found in Russia. If true, that would cement Russia's position as one of the world's dominant energy players, particularly for natural gas, and increase its already powerful clout over Europe's energy supplies. As the melting polar caps open up prospects that were once considered too harsh to explore, a race has begun among countries including the United States, Russia and Canada for control of these Arctic resources. The findings by the United States Geological Survey, which constitute the largest-ever survey of petroleum resources north of the Arctic Circle, could accelerate this scramble.
NEW YORK: The race for petroleum resources above the Arctic Circle is likely to speed up in coming years, as the polar ice cap melts and access to oil and gas reserves in many other places around the world becomes more challenging.
The lure of the Arctic as oil's next big frontier was vindicated this week as a major geological survey found the region might hold as much as a fifth of the world's yet to-be-discovered oil and natural gas reserves.
Many of these new resources, according to the survey, are to be found in Russia. If true, that would cement Russia's position as one of the world's dominant energy players, particularly for natural gas, and increase its already powerful clout over Europe's energy supplies.
As the melting polar caps open up prospects that were once considered too harsh to explore, a race has begun among countries including the United States, Russia and Canada for control of these Arctic resources. The findings by the United States Geological Survey, which constitute the largest-ever survey of petroleum resources north of the Arctic Circle, could accelerate this scramble.
I was wondering about that myself.
The operation to land £1 billion of cocaine was going like clockwork: the catamaran had glided into position in the Irish Sea and the cargo was being ferried ashore to a remote location, ready for distribution across Britain. Months of planning suddenly went awry, however, because of the simplest of blunders -- somebody put diesel in a petrol engine. The mistake caused an inflatable boat to capsize, tipping dozens of bales of cocaine into the choppy waters and casting one of the drug dealers into the sea. When the emergency services were alerted, police found 61 suspicious packages floating around the upturned boat in Dunlough Bay, west Cork. Yesterday four men were convicted for attempting to smuggle what became the largest seizure of cocaine in Britain and Ireland, on board the ironically named Lucky Day.
The operation to land £1 billion of cocaine was going like clockwork: the catamaran had glided into position in the Irish Sea and the cargo was being ferried ashore to a remote location, ready for distribution across Britain.
Months of planning suddenly went awry, however, because of the simplest of blunders -- somebody put diesel in a petrol engine. The mistake caused an inflatable boat to capsize, tipping dozens of bales of cocaine into the choppy waters and casting one of the drug dealers into the sea.
When the emergency services were alerted, police found 61 suspicious packages floating around the upturned boat in Dunlough Bay, west Cork.
Yesterday four men were convicted for attempting to smuggle what became the largest seizure of cocaine in Britain and Ireland, on board the ironically named Lucky Day.
The German government envisions thousands of wind turbines in the waters off the country's northern coast. Construction on the first project begins in August. And many more are in the planning stages. Has Germany's offshore energy revolution finally arrived? The official blessing came from the very top. "Wind energy is a very important prospect for the future," Germany's President Horst Köhler said. Green energy, he added, is "in tune with nature." The industry is in need of Köhler's encouraging words. For the last 10 years the German government and companies have been working on plans to build enormous offshore wind farms. And, yet, not a single blade currently turns off the coast of Germany. The reasons? Technical difficulties, a lack of money and problems with the power cables.
The German government envisions thousands of wind turbines in the waters off the country's northern coast. Construction on the first project begins in August. And many more are in the planning stages. Has Germany's offshore energy revolution finally arrived?
The official blessing came from the very top. "Wind energy is a very important prospect for the future," Germany's President Horst Köhler said. Green energy, he added, is "in tune with nature."
The industry is in need of Köhler's encouraging words. For the last 10 years the German government and companies have been working on plans to build enormous offshore wind farms. And, yet, not a single blade currently turns off the coast of Germany. The reasons? Technical difficulties, a lack of money and problems with the power cables.
A stunning Navy decision to abort a $20 billion plan for a new fleet of destroyers yesterday threw into question the future of Raytheon Co.'s largest defense program and renewed longstanding concerns about the fate of the Bath Iron Works shipyard in Maine. Cancellation of the 14,000-ton, Zumwalt-class destroyer, called the DDG-1000, after just two ships were funded, was made public by Maine's two Republican senators, Olympia J. Snowe and Susan M. Collins, and US Representative Thomas H. Allen, a Democrat whose district includes the Bath shipyard. The lawmakers said they were informed by top Navy officials that with costs rising 50 percent, to $3 bil lion per ship, the program has become too expensive and would make it impossible for the Navy to meet its overall goal of a 313-ship fleet. The service currently has about 280 ships. The lawmakers said they were also told that the Navy had concluded the destroyer's design was not well suited to combating the evolving threat of long-range missiles.
Cancellation of the 14,000-ton, Zumwalt-class destroyer, called the DDG-1000, after just two ships were funded, was made public by Maine's two Republican senators, Olympia J. Snowe and Susan M. Collins, and US Representative Thomas H. Allen, a Democrat whose district includes the Bath shipyard. The lawmakers said they were informed by top Navy officials that with costs rising 50 percent, to $3 bil lion per ship, the program has become too expensive and would make it impossible for the Navy to meet its overall goal of a 313-ship fleet. The service currently has about 280 ships.
The lawmakers said they were also told that the Navy had concluded the destroyer's design was not well suited to combating the evolving threat of long-range missiles.
Is it ARGeezer who keeps harping on the US navy being obsolete for exactly this reason?
you are the media you consume.
A stunning Navy decision
Is it stunning because it's so rare for a defence contract to be cancelled, no matter how much the price increases? or because the navy must continue to buy ships that don't meat its requirements? or that the navy would put off buying seven more ships towards its dream number? Any idiot can face a crisis - it's day to day living that wears you out.
The result of the Glasgow East Westminster by-election has been delayed after a re-count was ordered. Nine candidates are standing in the seat, in a contest sparked by the resignation of Labour's David Marshall on health grounds.
The result of the Glasgow East Westminster by-election has been delayed after a re-count was ordered.
Nine candidates are standing in the seat, in a contest sparked by the resignation of Labour's David Marshall on health grounds.
So either it's close, which would be a shock, or someone is close to losing their deposit, and the few votes will make the difference. Any idiot can face a crisis - it's day to day living that wears you out.
It is believed the initial count gave the SNP a lead of less than 500. Labour had a majority of 13,507 in Glasgow East over the SNP in the seat in the 2005 general election. Voter turnout was confirmed as 42.25%, only slightly down on the 48% figure at the last election, with 26,219 votes cast.
It is believed the initial count gave the SNP a lead of less than 500.
Labour had a majority of 13,507 in Glasgow East over the SNP in the seat in the 2005 general election.
Voter turnout was confirmed as 42.25%, only slightly down on the 48% figure at the last election, with 26,219 votes cast.
Westminster must be sweating tonight. Any idiot can face a crisis - it's day to day living that wears you out.
How long are the back-benchers going to tolerate Brown leading their party into disaster?
Tucked away in a 1,200-page bill now in Congress is a small paragraph that could lead distance-education institutions to require spy cameras in their students' homes. It sounds Orwellian, but the paragraph -- part of legislation renewing the Higher Education Act -- is all but assured of becoming law by the fall. No one in Congress objects to it. The paragraph is actually about clamping down on cheating. It says that an institution that offers an online program must prove that an enrolled student is the same person who does the work.
Tucked away in a 1,200-page bill now in Congress is a small paragraph that could lead distance-education institutions to require spy cameras in their students' homes.
It sounds Orwellian, but the paragraph -- part of legislation renewing the Higher Education Act -- is all but assured of becoming law by the fall. No one in Congress objects to it.
The paragraph is actually about clamping down on cheating. It says that an institution that offers an online program must prove that an enrolled student is the same person who does the work.
