TresSugar

Briefing Book! Obama Goes Back on First Campaign Promise?

LibertySugar — Thu, 04 Dec 2008 12:30:41 -0800

Obama: How does it make you feel? Obama breaks promise to tax oil company windfall profits. - 23/6
GOP: The comeback party? RNC chair discloses comeback plan that helped Chambliss win. - Politico
Spitzer: The sheriff of Wall Street is back? Fallen Governor Spitzer writes his first column in Slate all about the bailouts. - Slate
Media: Time for a print media bailout? A number of local New England newspapers may get government help, calling into question the meaning of "free press." - Good

US Department of the Interior: Sex, Drugs, and Oil

LibertySugar — Thu, 11 Sep 2008 11:00:00 -0700

The Interior Department, which controls oil and gas collected from US taxpayer-owned coastal waters, has been plagued with shocking ethical abuses, according to a government investigation. Violations range from giving contracts to a retired employee instead of allowing for competitive bidding to substance abuse and promiscuity.

The report states that officials “frequently consumed alcohol at (oil) industry functions, used cocaine and marijuana, and had sexual relationships with oil and gas company representatives.” Officials also allegedly accepted gifts from energy companies that exceed ethics rules, such as golf, meals and drinks, and tickets to a Toby Keith concert. In addition, oil companies were allowed to purchase oil and gas at a lowered price, after they had won contracts.

The alleged ethics mayhem took place in the Mineral Management Service (MMS) and Royalty In Kind Programs. The MMS brings in $10 billion for the federal government each year. It's the second biggest revenue maker after taxes. To find out what the investigation recommends now, read more.

The investigation strongly recommends that the Bush Administration either fire those who accepted gifts, or ban them from certain positions. Many have been transferred to other government jobs. The high-ranking officials retired during the investigation. Thus they could only face consequences if the Justice Department pursued suggested charges, which it has declined to do.

Since the department in charge of taxpayer oil seems to be a free for all, do you think we should hold off putting more oil and money in their hands through increased offshore drilling, or is this just the immoral and illegal behavior by a few bad apples?

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Front Page: McCain Set to Announce Palin as VP, Iraq Signs $3 Billion Oil Deal, Mexico's Court Upholds Abortion

CitizenSugar — Fri, 29 Aug 2008 08:05:56 -0700

McCain Set to Pick Palin as VP: According to sources close to the campaign, John McCain has picked Alaska Gov. Sarah Palin to be his running mate. A formal announcement is expected shortly at a campaign rally in Ohio. A 44-year-old mom, Palin flew overnight to an airport in Ohio near Dayton, thought to be awaiting her formal introduction.

Mexico's Court Upholds Abortion:
Mexico's Supreme Court has voted to uphold legal abortion in Mexico City, keeping the city one of only a few places in Latin America that allow abortion without limitations in the first trimester. The Roman Catholic church blasted the 8-3 decision announcing that they will redouble their fight against it.

Iraq Signs $3 Billion Oil Deal:
Iraq has signed a $3 billion oil deal with China, its first oil deal with a foreign country since 2003. The contract is pending approval by the Iraqi cabinet, but if passed work could begin on the oil field in a few months. The 22-year contract is a new version of a 1997 contract with China began under Saddam Hussein.

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Iraq Has $79 Billion Surplus - What's the US Deficit Again?

LibertySugar — Wed, 06 Aug 2008 12:15:00 -0700

Thanks to rising oil prices, Iraq will enjoy a $79 billion surplus by the end of the year, according to a report requested by a bipartisan group of senators. While the US has spent $48 billion in American taxpayer money on Iraq's reconstruction since 2005, Iraq has spent only a fraction of its oil revenue on reconstruction projects. And, Iraq spent only 1 percent of its 2005-2007 budget to maintain existing projects already funded by Americans or Iraqis. Thus, preinvasion promises that Iraqi oil money would finance the rebuilding of Iraq have gone unfulfilled.

The Central Bank of Iraq cites a lack of expertise in Iraqi ministries along with security problems as reasons for the lack of spending. There seems to be a vicious cycle: Iraq can't use its money to increase security because there's not enough security.

Congressional Democrats have already called for Iraq to spend its own money on reconstruction. Since the US just predicted a record $489 billion deficit for 2009, hopefully Iraq's windfall surplus will be put to use soon. Should Americans struggling with rising oil prices be frustrated that Iraq is sitting on oil profits while America pays for the reconstruction?

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Does Obama's Shift on Offshore Drilling Make You Shift Too?

LibertySugar — Mon, 04 Aug 2008 06:00:20 -0700

Dragging his feet this weekend, Barack Obama changed his tune on offshore drilling. Obama said he would be willing to support drilling in the Gulf of Mexico, in exchange for a comprehensive alternative energy plan which would include ending oil company tax breaks, and extending tax credits to those searching for alternative fuels.

Explaining his shift, Obama said: "What I will not do, and this has always been my position, is to support a plan that suggests this drilling is the answer to our energy problems. If we've got a plan on the table that I think meets the goals that America has to set and there are some things in there that I don't like, then obviously that's something that I would consider because that's the nature of how we govern in a democracy."

Since the majority of you said you opposed offshore drilling last time I asked, I'm curious if Obama's plan sounds more appealing to you.

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Front Page: Cancer Director Warns of Cell Phones, House Passes Housing Relief, Libya Cuts Off Swiss Oil

CitizenSugar — Thu, 24 Jul 2008 06:59:01 -0700

Cancer Director Warns of Cell Phones:
The director of a leading US cancer research institute just sent a memo to thousands of his staff cautioning of possible higher risks from cell phone use. He said waiting for definitive studies was folly and that action should be taken now. Children should use cell phones only in emergencies, and adults need to keep the phone away from the head. The warning is based on early findings from not yet published data.

House Passes Housing Relief:
The House approved help for the US housing market, including protection for two of the largest mortgage finance companies. It includes a bold plan to help hundreds of thousands of struggling consumers avoid foreclosure by refinancing their mortgages with more affordable government-insured loans. Bush has said he will sign the bill once it passes the Senate, perhaps by Saturday.
Libya Cuts Off Swiss Oil:
Libya says it has stopped oil shipments to Switzerland to protest the brief arrest of leader Muammar Gaddafi's son. The country has threatened further punishment if the Swiss don't apologize. The Swiss police held Hannibal Gaddafi for two days after he and his pregnant wife allegedly assaulted Swiss officers. The move could prove costly for both parties as Switzerland gets half of its oil from Libya, and Libya has a huge oil refinery in Switzerland.

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Bush Readies the Offshore Drill, Should Congress Say Yes?

LibertySugar — Tue, 15 Jul 2008 06:00:06 -0700

President Bush thinks offshore drilling might be the Nicorette gum America needs to kick its oil addiction. Yesterday Bush lifted the executive ban on offshore drilling imposed by his father, removing one hurdle for exploration.

Bush explained:

"This means that the only thing standing between the American people and these vast oil resources is action from the US Congress. Now the ball is squarely in Congress's court."

Answering Bush, Speaker Nancy Pelosi said:

“Once again, the oilman in the White House is echoing the demands of Big Oil. The Bush plan is a hoax. It will neither reduce gas prices nor increase energy independence."

Considering the current oil crisis, Bush thinks America has no choice but to take advantage of its own resources. Opponents fear environmental impact, and say the plan would take a decade to produce results, while ignoring alternative energy priorities. Senate Majority Leader Harry Reid says oil companies should explore the 68 millions of acres already available. Should Congress follow the President's lead?

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T. Boone Pickens Is Going to Save the Economy With Hot Air

CitizenSugar — Tue, 08 Jul 2008 12:15:44 -0700

I'm saying it right now: T. Boone Pickens for president. The former oil-man-billionaire-turned-wind-power revolutionary is suddenly everywhere and it's like a breath of fresh air. Pickens of his eponymous Pickens Plan is building the world's largest wind farm. His website, which launched today, is determined to shock the US into becoming the Saudi Arabia of wind.

The hemorrhaging of $700 billion dollars a year, an increase of about 50 percent more reliance on foreign imports since the 1970s, is ruining our country. Pickens says, "I've been an oil man my whole life, but this is one emergency we can't drill our way out of."

To see a consciousness-rocking explanation of the Pickens Plan by T. Boone himself (oh, and also changing my name to T. Boone) read more.

Though he's started running flashy ads to promote his plan, I'm sold on this straight-forward, Perot-style chart presentation. One watch and you'll wonder why T. Boone just tipped today. Starting with the optimistic, "we got more wind than anybody else does," his plan is explained in the most lucid way I've seen, showing how his one wind farm in Pampa, TX, can save the US $300 billion a year.

Is wind power the answer, or a lot of hot air? At least there hasn't been a massive "wind spill" today, unlike some nuclear sites. Is the Pickens Plan the salvation our economy needs?

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Russia Lectures US: You're in No Position to Give Advice

LibertySugar — Thu, 03 Jul 2008 14:00:30 -0700

Russian President Dmitri A. Medvedev is in no mood to listen to US criticism about the state of human rights or democracy in Russia. This week he said that the US was "essentially in a depression" and thus in no shape to tell other countries what to do.

During an interview with foreign journalists, one reporter asked the president about John McCain's proposal to expel Russia from the G8 for its record on democracy. Medvedev offered a lesson in international relations: "The Group of 8 exists not because someone likes or dislikes it, but because objectively, they are the biggest world economies and the most serious players from the foreign policy point of view." Little more than a decade after communism fell and left Russia in economic shambles, lucrative oil exports have made Russia economically, and geopolitically, confident.

Gas-station-side prayer vigils across America, organized by the Prayer at the Pump movement, might be giving Medvedev the evidence he needs to make such statements. For more on God and gas, read more.

The prayer group's founder, a member of the Seventh Day Adventist Church, said the group is currently in the prayer phase of working for lower-pump prices, but will soon begin activist work. He said: "We are praying that God will touch the hearts of people in power to find a solution quickly."

If money talks, do tough times mean America will soon lose its international influence?

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Americans Provided Iraqi Oil Ministry Contract Templates

LibertySugar — Mon, 30 Jun 2008 14:30:18 -0700

Despite previous confirmation that it would award exceptional no-bid contracts to Western oil giants, Iraq just announced that it has failed to sign the deals. Meanwhile, American officials have confirmed that the Bush Administration was directly involved in the creation of the contracts, as American advisers led by a State Department team directly advised Iraqi officials. But today, Iraq announced that it failed to finalize the deals as expected, because the oil companies "refused to offer consultancy based fees as they wanted a share of the oil."

American government lawyers and private sector consultants provided the Iraqi Oil Ministry sample contracts, and offered detailed suggestions during the drafting process. Sources told the New York Times that assistance was simply technical and legal, and that the team did not help choose which companies received the lucrative deals. Still, the close involvement raises questions of an inherent conflict of interest and about America's commitment to Iraqi sovereignty. Although Iraq says it continues to negotiate with Western oil giants, they "think there is no need to share Iraq's oil with anybody."

Even if the US only provided technical direction, does a perception of inappropriate intrusion threaten America's credibility in the region? Does this inflame suspicions that the US went to war for oil?

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