Domestic crude oil production in the United States in the next 10 years is expected to reach levels not seen since the 1990s, the EIA predicted.
The U.S. Energy Information Administration in its annual energy outlook for 2012 predicted domestic crude oil production would grow more than 20 percent during the next decade.
Last week, U.S. Rep.
Had Boeing secured a controversial Air Force tanker contract during an earlier round of bidding, the company would not be closing its Wichita facility, analysts and a tanker advocate said.
The $35billion tanker bid dragged out for nearly a decade over three rounds of politically charged competition, marked by ethics violations and technical mistakes.
If Boeing would have started building tankers in Wichita three or four years ago, at this point, they would be looking at ways to put work inside the facility rather than take it out, said Lexington Institute defense analyst Loren Thompson.
For the sixth time in the past two decades, the state is in the market to buy a big hunk of office space.
Two of the state’s more recent office-building purchases haven’t exactly been big scores. One, former 60 Washington St., once one of Hartford’s prime addresses near the State Capitol, was imploded in January 2001 after languishing nearly a decade in state hands.
Ultimately, the cost to remove asbestos and other changes to bring the 14-story office tower to modern standards proved too onerous. The Hartford Courant reported in 1995 that the estimated cost to renovate the tower ballooned to $30 million, more than double what the state paid for the property in 1992.
12 Dec
Posted by: Jonathon Smith in: Business Tips
Associated Press
WASHINGTON (AP) – Shifting from confrontation to cooperation, congressional leaders expressed optimism Thursday that agreement was near on extending this year’s payroll tax cut, renewing unemployment benefits and averting a federal shutdown.
“We can extend payroll tax relief for American workers and create new jobs and keep the government running and, frankly, we can do it in a bipartisan way,” House Speaker John Boehner, R-Ohio, told s, a turnabout from weeks of partisan sniping from both sides.
“No more show votes,” Boehner said after praising earlier remarks by Senate Majority Leader Harry Reid, D-Nev., that lingering disagreements on a mammoth spending bill could be easily resolved.
Forecasters in Japan and South Korea have revised their economic forecasts downward, reflecting the economic slowdown in the West, analysts said.
The central bank in South Korea Friday revised its 2012 growth forecast for South Korea to 3.7 percent from an earlier projection of 4.6 percent, The New York Times reported.
In Japan, revised gross domestic product data indicated the economy grew less than expected during the past quarter. The annual growth was changed from 6 percent to 5.6 percent and the quarterly growth rate was lowered to 1.4 percent from the previous estimate of 1.5 percent.
The worsening economic environment already prompted several rate cuts in the Asia-Pacific region as policy-makers work to buttress their economies, analysts told the Times.
29 Nov
Posted by: Jonathon Smith in: Business Tips
Wichita and Sedgwick County officials said they are optimistic they can nail down a proposed $52.7 million, 450-job Bombardier Learjet expansion at Mid-Continent Airport, a deal that awaits state agreement on an incentives package that local officials said could run between $16million and $18million.
City and county officials already have approved their portion of the plan, contributing $1million each. But Learjet has approached the state for the second time in about 16 months for millions of dollars in incentives.
Bombardier spokeswoman Danielle Boudreau said this week that there are ongoing discussions with the state. Nothing to announce yet.