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Thursday, Jul 03rd

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BP tells Halliburton to come clean

HalliburtonBritish energy company BP accused oil services company Halliburton of skirting its responsibilities in the 2010 oil spill in the Gulf of Mexico.

Transocean Deepwater Inc., owner of the Deepwater Horizon rig, leased to BP, agreed to pay more than $1 billion in fines and penalties for the BP oil spill, the U.S. Justice Department said Thursday. The company agreed to plead guilty to criminal charges, paying $400 million in fines, as well as another $1 billion in civil penalties for violations of the Clean Water Act.

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Should More Bankers Be in Prison?

Prison

The financial crisis had many causes—too much borrowing, foolish investments, misguided regulation—but at its core, the panic resulted from a lack of transparency. The reason no one wanted to lend to or trade with the banks during the fall of 2008, when Lehman Brothers collapsed, was that no one could understand the banks’ risks. It was impossible to tell, from looking at a particular bank’s disclosures, whether it might suddenly implode.

For the past four years, the nation’s political leaders and bankers have made enormous—in some cases unprecedented—efforts to save the financial industry, clean up the banks, and reform regulation in order to restore trust and confidence in the American financial system. This hasn’t worked. Banks today are bigger and more opaque than ever, and they continue to behave in many of the same ways they did before the crash.

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100 Billion Alien Planets Fill Our Milky Way Galaxy: Study

100 billion alien planetsOur Milky Way galaxy is home to at least 100 billion alien planets, and possibly many more, a new study suggests. "It's a staggering number, if you think about it," lead author Jonathan Swift, of Caltech in Pasadena, said in a statement. "Basically there's one of these planets per star."

Swift and his colleagues arrived at their estimate after studying a five-planet system called Kepler-32, which lies about 915 light-years from Earth. The five worlds were detected by NASA's Kepler Space Telescope, which flags the tiny brightness dips caused when exoplanets cross their star's face from the instrument's perspective.

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Shaheen Amendment Expands Female Service Members Access To Abortion

Jeanne ShaheenNew Hampshire’s senior senator Jeanne Shaheen, who introduced the amendment repealing the ban that had been in effect since 1981 (PDF) called the bills passage an “important step” toward ending a policy that was “blatantly unfair to women putting their lives on the line.”

Currently, military insurance only covers abortions performed to save the life of the mother, and military health care facilities will only perform them to save the life of the mother or in cases of rape and incest. Shaheen’s amendment will let insurance pick up the cost of the procedure in such cases, rather than forcing the woman to pay out of pocket.

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California Wine Confronts Fracking

California wine countryFor years, petroleum companies have practiced hydraulic fracturing (better known as “fracking”) in California, with virtually no government regulation or oversight. A 2011 investigation by Environmental Working Group revealed that fracking has been widely used in California for decades, contrary to assurances by officials that its use was uncommon in the state—even though they had never attempted to track the use of the controversial extraction method.

Now the Department of Conservation/Division of Oil, Gas and Geothermal Resources (DOGGR), the state agency nominally in charge of drilling, is considering new rules. Its “Pre-Rulemaking Discussion Draft” reveals few substantive changes and scant protection for the public.

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Bridge To Nowhere? NOAA Confirms High Methane Leakage Rate Up To 9% From Gas Fields, Gutting Climate Benefit

Uinta basinResearchers with the National Oceanic and Atmospheric Administration (NOAA) have reconfirmed earlier findings of high rates of methane leakage from natural gas fields. If these findings are replicated elsewhere, they would utterly vitiate the climate benefit of natural gas, even when used to switch off coal.

Indeed, if the previous findings — of 4% methane leakage over a Colorado gas field — were a bombshell, then the new measurements reported by the journal Nature are thermonuclear:

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Al Jazeera completes deal to buy Current TV

Current TVCurrent TV, the small cable news channel that was co-founded by former vice president Al Gore, has been sold to Al Jazeera, the Qatar-based media company.

The acquisition gives Al Jazeera, which is funded by the Qatar government, the opportunity to establish a footprint in the United States, where it already has an English-language version of its Qatar service -- called Al Jazeera English -- but only limited reach.

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EXCLUSIVE: Vietnam Combat Vet Rips Zero Dark Thirty and the NRA!

Vietnam soldiersI served in the 101st Airborne as a grunt in Vietnam in 1966 and as a Door Gunner in a Gun Ship with the 129th in 1967. I also served time in the stockade where I was tortured for speaking truth to power after I survived my tour across the pond. ‘Just saw Zero Dark Thirty and thought you might enjoy the rant.

The NRA has nothing to do with gun rights for anyone. The NRA is nothing but a ‘store front’ set up for the gun and bullet makers. Our fellow citizens are so stupid as to believe that the NRA has something to do with the 2nd Amendment. It never did…

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Renditions continue under Obama, despite due-process concerns

Rendition flightsThe three European men with Somali roots were arrested on a murky pretext in August as they passed through the small African country of Djibouti. But the reason soon became clear when they were visited in their jail cells by a succession of American interrogators.

U.S. agents accused the men — two of them Swedes, the other a longtime resident of Britain — of supporting al-Shabab, an Islamist militia in Somalia that Washington considers a terrorist group. Two months after their arrest, the prisoners were secretly indicted by a federal grand jury in New York, then clandestinely taken into custody by the FBI and flown to the United States to face trial.

The secret arrests and detentions came to light Dec. 21 when the suspects made a brief appearance in a Brooklyn courtroom.

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