| McCain resignation talk swirls, Pederson, Barrett, Shadegg, Flake ...
U.S. Sen. John McCain's office Wednesday countered speculation that the Arizona Republican would resign this summer to focus on his presidential bid. McCain spokeswoman Melissa Shuffield told the Phoenix Business Journal that McCain has "no current plans" to step down from his Senate seat. A summer resignation could create a mad dash to succeed McCain in the November election. Gov. Janet Napolitano would appoint an interim senator to serve until the November election if McCain resigns. State law requires that appointment to be of the same party as the officeholder. Business and political sources familiar with the issue already are talking about possible interim contenders, including Phoenix attorneys Grant Woods and Patrick McGroder, McCain aide Deb Gullett and Secretary of State Jan Brewer.
Stocks Advance, Led by Techs
Stocks closed higher Wednesday after reversing an earlier drop. Technology issues were among the session's best performers, aided by a strong earnings report from Hewlett-Packard (HPQ). Financial stocks rose later in the day, as minutes from Federal Reserve January policy meetings apparently supported hopes for further interest rate cuts. Stocks tied to precious metals and oil got a lift from gains in commodities futures, as crude oil topped the $100 mark once again to close at a new record. Investors also digested reports showing worsening inflation risks and only slight improvement in the housing market. On Wednesday, the Dow Jones industrial average finished higher by 90.04 points, or 0.73%, at 12,427.26. The broader S&P 500 index added 11.25 points, or 0.83%, to end at 1,360.03.
David Blott from Moncton, NB, Canada writes:
If that is the case then why won't Harper state that he believes Canada should stay in it current role beyond 2009 instead of hiding behind both the Manley Commission and a spring vote that he knows has little likelihood of happening as the odds are Canadians will be in an election campaign?
Leadership would require that Harper makes his ambitions known now, not at some point in the future. Posted 27/12/07 at 1:05 AM EST | Alert an Editor | Link to Comment .
Kern’s past helped fuel new film
In the early days, oil drillers worked around open pits, said Bob Foreman, a volunteer for the West Kern Oil Museum.
You never knew when you might hit a dangerous pocket of gas that could lead to the kind of explosion immortalized in the film.
They had so many wells blowing oil, going over the derricks, he said. They had no way to control the derricks. The gas would blow until it exhausted itself. A great giant pocket ... They couldnt shut it off.
Crude equipment also put oil field workers in constant danger, Nickell said.
When working at night on the wooden derricks, they fired up yeller dogs, lanterns that resemble a tea kettle with two spouts.
Its a wonder everything didnt burn down, Nickell added.
Taft was born around 1910, when the railroad began to unload Oregonian lumber for the derricks, Foreman said.
Commodity ETF Jumps As Wheat Hits Record
The market may have lost its appetite for stocks, but it's hungry for commodities, especially wheat. Wheat soared to a record Friday as the Agriculture Department forecast that supplies will drop 40% from last year to a 60-year low in May. It already has more than doubled in the past year. Corn, soybeans, gold and platinum have also soared to new records. "We're in an inflationary cycle that's heating up, so things such as commodities are becoming more valuable than paper assets," said Adam Harter, director of operations at Financial Enhancement Group, with $200 million in assets. "People in developing economies are seeing incomes rise and are able to buy more and that's putting a pressure on the demand side of the equation." Trading Futures In lock step, PowerShares DB Commodity Index (DBC) broke out to a new high Friday.
Ace Ethanol LLC Selects Planalytics EnergyBuyer for Natural Gas ...
WAYNE, Pa., Jan. 3 /PRNewswire/ -- Planalytics Inc. announced today that Ace Ethanol LLC has licensed the EnergyBuyer(SM) service to help the company monitor natural gas market prices and identify when it is a good time to buy or hedge its natural gas. "Planalytics' always accessible web-based tool and weekly e-mail newsletters will help Ace Ethanol stay on top of a volatile market and take advantage of good buying opportunities when they arise," said Paul Corby, Senior Vice President, Planalytics Energy. "We look forward to helping Ace successfully manage their natural gas costs, providing them with stable pricing and lower volatility." Planalytics EnergyBuyer continuously analyzes market conditions to provide clients with straightforward "buy" or "don't buy" guidance up to a year in advance.
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