February 25, 2017

Archives for July 2010

Less Than a Third of Oil Contained

According to a BP report released yesterday, the total amount of oil contained, either through oil collection by vessels or through a burning process known as flaring, is 827,000 barrels – less than a third of all the oil that has poured into the Gulf since April 20th.

Injunction Filed Against Arizona Law

With less than 12 hours before the controversial Arizona immigration law is scheduled to take effect, federal judge Susan Bolton has issued a preliminary injunction against the contentious provisions – including the provision requiring police officers to ask about immigration status for suspicious individuals.  Read the federal ruling here, courtesy of the Wall Street Journal, […]

BP Posts 2nd Quarter Statement

Unsurprisingly, BP posted a deficit for the 2nd Quarter of 2010 – totaling about $17 billion, as displayed by the chart below.  BP released a complete report that also estimated the overall costs related to the oil spill at $32.2 billion.

WikiLeaks Releases War Reports From US Military

WikiLeaks, the self-described multi-jurisdictional public service designed to protect whistleblowers, has released over 91,000 reports written by US military officers between 2004-2010 about the Afghanistan War.  View and browse the reports here.  The reports are generally short and describe events of the war.

BP CEO Steps Down with Hefty Severance

Tony Hayward will step down as the BP CEO October 1st.  Hayward not only departs with an annual pension of $930,000 and a one-time payout of $1.6 million, but also with speculation that he will eventually serve BP on an executive board in Russia.

Trade Deficit Increases

According to the Bureau of Economic Analysis, the international trade deficit increased $2 billion from April to May.  The deficit was $40.3 billion for April, while it was $42.3 billion for May.  The BEA’s graph below shows the 10 year monthly trend for the trade deficit.  Notice the trend abruptly changes in late 2008, mostly […]

New Oil Cap Stops Leak Temporarily

The Department of Energy’s new oil cap placed on the Macondo Well has stopped the oil flow, but the vents on the cap will be opened after a maximum of 48 hours and again allow oil to flow, reports National Incident Commander Thad Allen.  The temporary stop is only a part of the process to […]

OMB Replacement Named

With Peter Orszag’s departure as the Director of the Office of Management and Budget on July 30th, Obama has appointed Jacob “Jack” Lew to replace him.  Lew served the position from 1998-2001 for the Clinton Administration.  The Senate will have to confirm Lew.