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LONDON -- The International Energy Agency made a large cut to its medium-term forecast for total world oil demand, suggesting the impact of recession and energy-efficiency efforts may help check future increases in the price of crude oil. The Paris-based IEA said in a report it expects global oil demand by 2013 to average 87.90 million barrels a day, down 3.7%, or 3.35 million barrels a day, from its December forecast. The latest projection is a massive 6.24 million barrels a day, or almost 7%, below the IEA's 2008-13 forecast issued in July. But the report also highlights how reduced...

The almost mystical belief in the power of government dictates to solve our problems is no better illustrated than by the President's recent unveiling of his "radical" changes in fuel-efficiency standards for cars and trucks. U.S. automakers are to achieve an astounding mileage average of 35.5mpg by 2016. The purpose is to improve the environment and make us less dependent on foreign oil. The impact will be more far-reaching and consequential--and not at all benign. Let's be frank. These rules will mean greater carnage on our highways. We've seen this horror movie before, when standards were first enacted in the...

Starting July 1, many people having trouble repaying their federally guaranteed student loans might be able to choose a new, more lenient payment plan. The program, called income-based repayment, will be available to more people and almost always result in smaller monthly payments than an existing program for stressed borrowers called income-contingent repayment. The new program sets monthly payments based on adjusted gross income and family size. Unpaid principal and interest is generally added to your loan amount. Any debt remaining is wiped out after 25 years - or after 10 years if you work in the public or nonprofit...

For those with a strong stomach, take a look at accused pedophile, Duke Professor Frank M. Lombard's book wish list for Amazon.com. His choice in reading material tells it all! I hope Amazon has checked out these books to make sure the "boys" pictured in them are of legal age. http://www.amazon.com/gp/registry/wishlist/1CP5PE0OHRG4G?tag=section_wishlist-20

Likud Knesset Member Danny Danon has called on party leader and Prime Minister Binyamin Netanyahu to boycott Wednesday evening’s annual U.S. Independence Day reception. He said that most coalition MKs will join him to protest what he called American contempt towards Israel.

PORT-AU-PRINCE, Haiti (AP) — Three international organizations canceled $1.2 billion of Haiti's debt Tuesday, freeing up millions of dollars each year for the deeply impoverished Caribbean nation that is beset by humanitarian crises. The World Bank and the International Monetary Fund said their boards decided this week to forgive Haiti's obligations to the two organizations, a move that triggered previously announced debt relief from the Inter-American Development Bank. The actions erased nearly two-thirds of Haiti's outstanding debt. As of April, Haiti owned more than $1.9 billion, according to the Washington-based Center for Economic and Policy Research. "This is a pretty...

After trashing (and rightfully so) Bernanke's last appearance before Congress, Caroline somehow arrives at the following conclusion. It would be hard to find someone more suited for the job of Fed chairman than Bernanke. His performance yesterday has nothing to do with his unique qualifications for the position. ... Unless President Barack Obama wants a solo pilot, he would do well to tap Bernanke for a second term. Let's take a look at the qualifications of which Baum speaks. Ten Qualifications 1) Bernanke is either a liar or has a memory problem. I believe the former. Either way, there is...

HONOLULU -- The Great Hawaii Furlough Battle, which for weeks has been debated only in figurative terms, will start to become more real this week as a judge ponders the legalities and state workers prepare to feel the pinch. Gov. Linda Lingle has identified Wednesday, July 1, as the first day she can unilaterally order state workers to take three unpaid days off each month or lay off thousands of them in an effort to close most of a $729 million state budget hole. But that will not come without a court fight. The first act is set for the...

WASHINGTON (AP) - The Organization of American States says Honduran coup leaders have three days to restore deposed President Manuel Zelaya to power. OAS Secretary-General Jose Miguel Insulza says Honduras "risks being suspended" from the group if the leaders of the military coup do not comply. Insulza delivered what he called "an ultimatum" as OAS talks regarding the crisis wound past the eight-hour mark. The 72-hour period appears designed to cover plans for Zelaya, who was ousted in a coup Sunday, to go home, accompanied by the presidents of Argentina and Ecuador, and seek restoration of his authority. THIS IS...

The Obama administration sent a detailed proposal to Congress yesterday for creating an agency to oversee nearly all facets of consumer lending, but the breadth of its powers is setting the stage for a fierce clash on Capitol Hill. The bill aims to establish a Consumer Financial Protection Agency to guard Americans from the abusive lending practices that contributed to the financial crisis, such as undocumented mortgage applications, the poor disclosure of loan terms and deceptive ads. Administration officials proposed that the new regulator have a broad mandate to cover the spectrum of consumer financial products and to fill gaps...

California is preparing to issue IOUs to its creditors this week as it grapples with an unprecedented cash crunch and prepares to begin its new fiscal year deep in the red. Once the US’s richest state, California now has the dubious distinction of having the worst credit rating in the country. It is facing a budget deficit of $24bn (€17bn, £14.5bn) yet Arnold Schwarzenegger, its governor, and the state assembly cannot agree on a budget that would address the shortfall. California’s fiscal year ends on Wednesday but as the state’s cash reserves are empty, IOUs will be issued to a...

Sen. Daniel K. Inouye's staff contacted federal regulators last fall to ask about the bailout application of an ailing Hawaii bank that he had helped to establish and where he has invested the bulk of his personal wealth. The bank, Central Pacific Financial, was an unlikely candidate for a program designed by the Treasury Department to bolster healthy banks. The firm's losses were depleting its capital reserves. Its primary regulator, the Federal Deposit Insurance Corp., already had decided that it didn't meet the criteria for receiving a favorable recommendation and had forwarded the application to a council that reviewed marginal...

It has been interesting watching the response to the Honduran military's recent ousting its nation's president, Manuel Zelaya.  Barack Obama called the action "not legal" and Hillary Clinton said that the arrest of Zelaya should be condemned.  Most interesting, perhaps, is that taking this position places them shoulder to shoulder with Fidel Castro, Daniel Ortega and Venezuelan's roaring mouse, Hugo Chavez, who is threatening military action against Honduras.  Now, some would say this is an eclectic group - others would say, not so much - regardless, what has gotten them so upset?  Let's start with what they say.  They are...

At the ultra-liberal Daily Kos website, a “Kossite” writes a diary condemning Ginsburg’s dissent in Ricci v. DeStefano: Now, this diary came out of a comment to another diarist, who said: I agree with Ginsburg's logic. No one is entitled to a promotion. All firefighers were treated the same because none were promoted. Where's the discrimination? That is indeed an accurate summary of Ginsburg's position, which is precisely why it's ludicrous. Suppose a private company promised -- in writing -- to promote someone to Public Relations Director based upon a written exam, and then after the test was done, it...

Welcome To.... 'Amy's Place' welcomes all poets and those who enjoy poetry.'Amy's Place' is more than just about poetry.Come in, relax, and share with fellow FReepersyour thoughts about any of the things on the *Menu*. Enjoy! :) Never Forget! Bad Penny Amy's personal guardian ~ the ever charming, lovable, huggable, LouieWolf Many thanks for stopping by. : )

July 1, 2009                                 Wednesday of the Thirteenth Week                             in Ordinary Time       Reading 1Responsorial PsalmGospel Reading 1Gn 21:5, 8-20a Abraham was a hundred years old when his son Isaac was born to him.Isaac grew, and on the day of the child's weaningAbraham held a great feast. Sarah noticed the son whom Hagar the Egyptianhad borne to Abrahamplaying with her son Isaac;so she demanded of Abraham:"Drive out that slave and her son! No son of that slave is going to share the inheritancewith my...

Michael Jackson Breaks Billboard Charts Records June 30, 2009 10:58 PM ET Keith Caulfield, L.A. As predicted, Michael Jackson is once again the King of the Pop charts. Based on preliminary sales numbers from Nielsen SoundScan, the entire top nine positions on Billboard's Top Pop Catalog Albums chart will house Jackson-related titles when the tally is released in the early morning on Wednesday (July 1). Nielsen SoundScan's sales tracking week ended at the close of business on Sunday (June 28) night. Michael Jackson 1958-2009 Jackson himself has a record eight out of the top 10, while a Jackson 5 compilation...

Long-time readers to my site will recall my taking The Politico to task with their take of the “birthers” — a pejorative intended to label those who question the President’s eligibility as being “fringe” or “inciteful”. Yesterday and today, two more articles were written about the eligibility saga, one from a story about a co-sponsor of Rep. Bill Posey’s (R-FL) HR1503, Rep. Randy Neugebauer, and another by a TownHall.com commentator, John Hawkins; the former is sympathetic to the issue, the latter is against it. I intend to once again correct the record by inserting my own commentary as appropriate.

Government experts say prescription drugs like Vicodin and Percocet that combine a popular painkiller with stronger narcotics should be eliminated because of their role in deadly overdoses. A Food and Drug Administration panel on Tuesday voted 20-17 that prescription drugs that combine acetaminophen with other painkilling ingredients should be pulled off the market. The FDA has assembled a group of experts to vote on ways to reduce liver damage associated with acetaminophen, one of the most widely used drugs in the U.S. Despite years of educational campaigns and other federal actions, acetaminophen remains the leading cause of liver failure in...

It may not be "Mission accomplished," but we are getting closer. Yesterday, the United States completed the process of withdrawing from Iraq's cities. American forces closed or turned over to Iraqi authorities 150 bases and facilities. The Iraqis are happy to see us go, and we are glad to be leaving.