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IEO

Through the first six months of the Obama administration, campaign promises were largely moved to the back burner while all available resources were devoted to an economy spiraling further and further into recession. Now that the country has lifted itself out of the recession and a recovery, albeit a fragile one, is underway, Washington has resumed battling over proposed social overhauls. While health care reform has been the primary focus (and the source of the most heated conflicts), climate change initiatives have been making steady progress as well. [click to continue…]

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Last week, BP PLC announced the discovery of a “giant” new oil field about 200 miles off the coast of Louisiana. The oil field is an an area that was once known as the “Dead Sea” in the oil industry, but has since witnessed several discoveries of massive reserves and become one of the most exciting oil exploration regions. Of the Tiber well, a BP spokesman noted, “we believe it’s the deepest well ever drilled by the oil and gas industry.” [click to continue…]

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