An obscure federal regulator of electricity markets has emerged as a tough cop on the beat, taking on Wall Street banks and big energy firms alike for market manipulation. That aggressive approach stands out when it’s compared with that of the regulator in charge of looking for manipulation in the oil and gasoline markets.
Whether manipulation accounts for volatile oil and gasoline prices in recent years is a hotly debated topic since prices began their steep climb in late 2005. Last year’s West Coast price spikes amid ample supplies added to the urgency in determining whether excessive financial speculation is driving price volatility.
Oil and electricity: A compare-and-contrast tale of 2 regulators
Chris Hedges: The Day That TV News Died
I am not sure exactly when the death of television news took place. The descent was gradual—a slide into the tawdry, the trivial and the inane, into the charade on cable news channels such as Fox and MSNBC in which hosts hold up corporate political puppets to laud or ridicule, and treat celebrity foibles as legitimate news.
But if I had to pick a date when commercial television decided amassing corporate money and providing entertainment were its central mission, when it consciously chose to become a carnival act, it would probably be Feb. 25, 2003, when MSNBC took Phil Donahue off the air because of his opposition to the calls for war in Iraq.
Scientists link frozen spring to dramatic Arctic sea ice loss
Melting sea ice, exposing huge parts of the ocean to the atmosphere, explains extreme weather both hot and cold.
Climate scientists have linked the massive snowstorms and bitter spring weather now being experienced across Britain and large parts of Europe and North America to the dramatic loss of Arctic sea ice.
Marine who helped stage toppling of Saddam Hussein has doubts a decade later
There was no doubt in the young Marine’s mind when he clambered to the top of the enormous statue of Saddam Hussein, tied a noose around its neck — and tore down the graven image.
Brooklyn-born Edward Chin continued to believe in the mission, even as the U.S. death toll mounted in Iraq, even as Saddam’s weapons of mass destruction turned out to be a mirage. Now, 10 years after Chin signaled to the world that Baghdad had fallen, he is not so certain.
UK's BAE Systems wins $780m US military contract
BAE Systems has been awarded a new contract from the US military worth up to $780m (£512m), in a rare spending boost from its largest single customer.
The US is BAE's biggest market but the defence contractor has warned it faced weak demand from across the Atlantic due to the scaling back of operations in Iraq and Afghanistan, as well as public spending cuts.
Erin Brockovich carcinogen endangering thousands in New Jersey
The neighborhood looks exceedingly normal: single-family homes and apartment buildings packed together, dogs barking from postage-stamp-size lawns, parents hustling down narrow sidewalks to fetch their children from school. But something with very dangerous potential lies below the surface, officials say.
The residents' toenails will provide confirmation.
A plume of hexavalent chromium, a metal used in industrial production that the Centers for Disease Control and Prevention calls a "well-established carcinogen," has spread under Garfield, putting about one-tenth of the city's homes — about 600 structures and 3,600 residents — at risk.
Heart repair breakthroughs replace surgeon's knife
Have a heart problem? If it's fixable, there's a good chance it can be done without surgery, using tiny tools and devices that are pushed through tubes into blood vessels.
Heart care is in the midst of a transformation. Many problems that once required sawing through the breastbone and opening up the chest for open heart surgery now can be treated with a nip, twist or patch through a tube.
Katrina vanden Heuvel: Lessons Learned From the Iraq Invasion
This week marked the tenth anniversary of the Iraq invasion and the beginning of a war that The Nation opposed fiercely and early on. Running scores of articles and editorials against the misguided mission, our writers sought to create an intelligent dialogue around the issue and provide alternative policies to move us forward in a more peaceful way.
The Nation’s first editorial on the subject ran on June 20, 2002: “War on Iraq Is Wrong.” In clear and certain terms, the editors outlined the glaring weaknesses in the administration’s argument for war and its obtuseness over the consequences of invasion. “If the United States proceeds alone or with only tacit support from others, Iraq’s collapse into anarchy cannot be ruled out,” warned the editors. “Democrats and Republicans, and all citizens with civic courage, must challenge a policy that poses a clear and present danger to international and American interests.”
Afghan minister: Give NATO the boot
A former Afghan warlord turned government minister said the country should not agree to further U.S.-led military operations there.
Water and Energy Minister Mohammad Ismail Khan, marking the ninth anniversary of his son's death, told residents in the city of Herat that NATO forces in the country are not making things any safer and leaders should seek to end deals with nations that intend to "dominate" Afghanistan, Khaama Press said Saturday.
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