BBC Business Headlines

Goldman Sachs fined £20m by FSA
Wall Street banking giant Goldman Sachs is fined £20m by the UK's financial watchdog, the BBC learns.


Rig firms hit back at BP report
Contractors who worked for BP on the ill-fated Deepwater Horizon oil rig criticise the company's report into the Gulf of Mexico oil spill.


Shoppers turning to card payments
The number of cash machines in the UK has fallen and withdrawals have dropped as shoppers turn to cards, figures show.


Empty shops highlighting 'divide'
The number of shops closing in Britain is slowing but a north-south divide has emerged, a survey by retail analysts the Local Data Company suggests.


US economic growth 'decelerating'
US economic growth showed "widespread signs of deceleration" in August, says the Federal Reserve's Beige Book.



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NY Times Economix

Nearly 5 Jobless Workers Per Opening in July
That's a better ratio than what the economy showed earlier this year, but it still shows persistent softness in the United States labor market.

The Thoughtful Roar of the Housing Bears
Bloggers expand on the case for gloom in the real-estate market.

What We're Reading: Lying Pants
Links from around the Web.

New York State Still Has Highest Unionization Rate
A new report looks at the organized labor in the Empire State and around the country, and how its size and composition have changed over the years.


Paul Krugman
For Douglas Holtz-Eakin
When your day is done ...Read more...




Buy the Book


A Declaration of Energy Independence: How Freedom from Foreign Oil Can Improve National Security, Our Economy, and the Environment

by Jay Hakes

Published by Wiley


Listen to podcast interview:

In response to the oil crises of the 1970s, America developed a bipartisan energy policy that made us safer, greener, and far less dependent on foreign oil. It was so successful that American oil Imports fell by fifty percent and greenhouse gas emissions dropped nine percent in just five years. How was this possible, and how can we do it again?

A Declaration of Energy Independence -- written by one of the country's top energy experts -- outlines seven economically and politically viable paths to energy independence. It also answers the questions many Americans have been asking:

• How can we break the links between oil consumption, terrorism, and the war in Iraq?
• Will it wreck our economy if we deal with the tough issues of energy?
• Which new technologies can help get us out of our current energy predicaments?
• What kind of a president do we need to lead us to a better energy future?
• Should we be pessimistic or optimistic about our energy prospects?
   
Between rising oil prices, global instability, and environmental degradation, most Americans acknowledge the need for energy independence. Yet our political dialogue tends to focus more on rhetoric than substance, leaving citizens scratching their heads about what they and the country can do to break free from energy dependence.

A Declaration of Energy Independence takes a nonpartisan, honest approach to energy issues and answers fundamental questions like whether the price of oil will ever go down; whether global warming is a real threat; and whether ethanol and other biofuels make sense in the long run.

As the former head of the Energy Information Administration at the U.S. Department of Energy, author Jay Hakes had an exclusive, inside look at America's energy problems. Now, combining undisputed facts and solid science with historical and political context, Hakes offers his expert insight on the situation and presents viable solutions for a more stable political, economic, and military future for America.

America's addiction to oil isn't just a pocketbook problem; in fact, it represents a grave security threat with even greater long-term consequences than the Iraq War. Far beyond the rising price of gas, our oil addiction puts dollars in the hands of foreign despots and funds international terrorism. In addition, any severe disruption in the flow of oil can leave our military virtually crippled and unable to respond to crises around the world.

America can break out of the energy trap if we approach the issue honestly, intelligently, and with the political will to create a better future. A Declaration of Energy Independence offers a real-world look -- without the ideological blinders of the right and the left -- at how we got into this mess and, more importantly, provides effective solutions to get us out of it.


pub date: 2008-07-21 | hardcover | 9780470267639