Daily News Channel
Storage tankers across the globe may be brimming with oil that no one is buying because of the global economic downturn, but the traditional laws of supply and demand don’t always apply to oil prices. Drivers have faced rising prices at the gas pump in recent months, as investors and oil-producing countries hoard supplies in anticipation of a global economic recovery later this year.
Five Afghan civilians and one police officer died Saturday in a car bomb attack targeting a police checkpoint in the country’s northeastern region, the NATO command reported. A billion gallons of ash sludge, laced with toxic materials, spilled from a holding pond and fouled 300 acres and two rivers near the Tennessee Valley Authority’s Kingston Fossil Plant on December 22. Forty homes were affected, roads were ruined, and residents were left wondering whether their water would ever be safe to drink.
Despite the destruction it caused in a massive spill near a Tennessee power plant in December, coal ash has found many uses that benefit industry and even the environment.
After promising the American people his team has already found $2 trillion in budget savings by scouring the federal budget, President Obama is planning to lay out some of the potential spending cuts in great detail when he unveils his first blueprint on Thursday, according to senior administration officials familiar with the budget plans. “My administration has also begun to go line by line through the federal budget in order to eliminate wasteful and ineffective programs,” Obama said Tuesday in a speech to a joint session of Congress.