Daily Digest 8/7 - Shell Pulling Cash Out Of Eurozone, Ending Blackouts One Solar Lamp At A Time
The firm is forced to keep some money in Europe to fund its operations, but is keeping the bulk of its reserve liquidity out of the eurozone to avoid growing macroeconomic risk, the report said.
...from a credit standpoint, U.S. Treasuries – even without their vaunted AAA rating – are indeed among the world’s safest securities. Sure, a few blue-chip companies have higher credit ratings. But that could change. Plus, they aren’t able to crank up the printing presses to repay their corporate debt. And some other countries have been fiscally responsible enough to maintain their AAA-ratings. But most don’t have the economic strength, political stability, or military might to attract large capital flows.
U.S. Midwest Hit By Perfect Gasoline Storm (James S.)
An industry analyst said much of the region was hit by "a cluster of bad luck." Last month, pipeline company Enbridge reported a leak on a pipeline in Wisconsin. A section of the Lakehead oil pipeline system ruptured there, cutting off oil supplies to Chicago-area refineries. U.S. Transportation Secretary Ray Lahood said the incident was "absolutely unacceptable" and forced Enbridge to keep the line closed until authorities review a restart plan for the entire 467-mile pipeline.
The Other Side Of The Sanctions (James S.)
After nearly thirty years of dealing with American sanctions, the Iranians have developed methods of evading some of the restrictions, but the current application goes far beyond anything faced earlier. The National Iranian Oil Company has been forced to relinquish its monopoly of sales and authorized private traders to market the crude. The Oil Products Exporters Union expects to manage a fifth of exports and claims to have completed arrangements with refiners in Europe.
For many Indians, diesel is not an affordable option, and the wait for a reliable connection to the grid seems like it will be a long one given the paralysis in policy making in New Delhi and slow pace of infrastructure development around the country. As a result, many Indians have been left to improvise, often by burning driftwood or kerosene, an oil-based fuel similar to diesel.
What Is Missing? (Tall)
Maya Lin is best known for the Vietnam War Memorial in Washington, D.C., that she
designed. Now she has created a memorial to honor the
vanishing natural world.
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