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U.S. EPA Seeks Tighter Ozone Standards to Cut Pollution

Reuters -- The Obama administration proposed stricter curbs on ground-level ozone, a pollutant linked to several serious health conditions, in a move industry groups and congressional Republicans said would place a heavy burden on the U.S. economy.

The [EPA] said it would set National Ambient Air Quality Standard between 65 and 70 parts per billion concentration of ozone and consider public comments on standards within a 60 to 75 ppb range.

The proposed rule would lower ozone-forming emissions from power plants and car exhaust pipes, leading to slightly cleaner air.

Industry groups had braced for a standard as low as 60 ppb and estimated annual costs of $270 billion at that level, according to the National Association of Manufacturers.
 (go to article)

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Oil Wars? Read This Saudi Official’s Ambivalent Sentence and Understand Why OPEC’s Meeting Tomorrow

TheBlaze-Reuters -- It’s an understated sentence with huge implications: He expects the global oil market “to stabilize itself eventually.”

Those were the words of Saudi Arabia’s oil minister Ali al-Naimi on Wednesday, Reuters reported, as the 12 members of OPEC geared up for a Thursday meeting to discuss the precipitous decline in oil prices.

Al-Naimi’s sentiment could mean cheap oil for the world and tough times for countries including Venezuela and Russia as Saudi Arabia, one of the world’s three biggest oil-producers, refuses to cut production as prices fall.

Oil prices have declined precipitously since the summer in the face of increased global (and especially U.S.) production and a dip in global demand.

For more than a month Saudi Arabian officials have been saying that they are OK with falling oil  (go to article)

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Market-share wars and a plunging price loom as OPEC nations meet

The Globe and Mail -- Global oil producers could face a bleak winter unless OPEC heavyweights reverse course as they head into a critical meeting and reach an agreement on production cuts to boost sagging prices.

Ministers from Saudi Arabia and the United Arab Emirates signalled Wednesday that there would be no deal reached in Vienna, although the cartel’s leaders may have been employing scare tactics in order to persuade fiscally-strapped members that they must participate in production cuts or face steep price declines.

Saudi Oil Minister Ali al-Naimi said Wednesday that he expects the oil market “to stabilize itself,” leading to speculation that the Organization of Petroleum Exporting Countries will be unable to implement a substantial production cut. UAE Energy Minister Suhail bin Mohammed al-Mazroui...  (go to article)

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Snow and rain ground flights, make Thanksgiving driving 'a little hairy' in the Northeast

Star Tribune -- MINEOLA, N.Y. — A sloppy mix of rain and snow rolled into the Northeast on Wednesday just as millions of Americans began the big Thanksgiving getaway, grounding hundreds of flights and turning highways hazardous along the congested Washington-to-Boston corridor.

By early evening, more than 700 flights had been canceled, the bulk of them in the Northeast, during what is typically one of the busiest travel periods of the year. Thousands of flight delays were also expected as the snow from the nor'easter piled up.

Some travelers tried to change their plans and catch earlier flights to beat the storm, and major airlines waived their re-booking fees. But most planes were already filled.

Numerous traffic accidents were reported across the Northeast, where by midafternoon the line between rain  (go to article)

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Holiday travelers are in for 'roller-coaster' weather

Star Tribune -- Twin Citians might be able to deep-freeze their turkeys Thursday as temperatures stay cool for the Thanksgiving holiday only to yo-yo throughout the weekend.

While Thanksgiving is predicted to be mostly sunny during the day, high temperatures in the metro are expected to hover around 10 degrees, said Rick Hiltbrand, a meteorologist for the Twin Cities office of the National Weather Service. But that will change over the weekend as Saturday warms up to highs around 40 degrees and then drops down to highs around 20 on Sunday.

“It’s kind of a roller coaster this weekend, up and down,” he said.

Black Friday shoppers in the Twin Cities can expect about an inch of snow Thursday night and half an inch early Friday, Hiltbrand said.

“It just may end up causing some more slick roads again,” he s  (go to article)

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Change of Heart for OPEC?

FOX Business -- What is 2Mbpd of overproduction between friends?

The market should laugh off any pledge to rigididly comply to existing quota’s because the NON-OPEC players have no quota. It seems that the market is not buying into the fact that this decision is final as they agreed to monitor market conditions and keep in touch if say perhaps emergency measures may need to be taken

They may need to be taken in if we get a very bearish EIA report. The expectations are for a slight build in crude supply. If the API is any indication we might get a bearish surprise. The API report that crude supply increased by 2.8Mb. Distillates dropped on the gold but gas supply rose. Demand was poor due to bad weather or perhaps because the excitement of lower gasoline prices is wearing off just a bit

So for OPEC it  (go to article)

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Dutch Seek to Harness Energy From Salt Water Mix

ABC News -- Dutch researchers are seeking to add a new, largely untapped renewable energy source to the world's energy mix with the opening of a "Blue Energy" test facility on Wednesday.

Blue energy takes advantage of the difference in salt concentration between sea water and fresh water to produce electricity.

Rik Siebers of REDstack BV, the company overseeing the project, said the goal is to improve the technology to the point where it will be profitable to build blue energy plants commercially in the 2020s.

Siebers said blue energy will one day have its own niche.

"For wind turbines you need wind, and solar panels work in the day, but water is always flowing," he said in a telephone interview Wednesday.

The Dutch plant has a theoretical maximum capacity of 50 megawatts, about enough to power 1  (go to article)

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Crude Oil Futures Decline Before Tomorrow’s OPEC Meeting

Bloomberg -- Oil futures closed Wednesday at the lowest level in more than four years amid skepticism OPEC ministers will come to an agreement that trims a supply glut behind a five-month slide in prices.

Futures dropped 0.7 percent in London and 0.5 percent in New York after Saudi Oil Minister Ali Al-Naimi said tumbling crude prices will stabilize on their own. Naimi later said that Persian Gulf countries have reached a consensus on output and OPEC will take a “unified position,” without elaborating on what they agreed to do.
Gasoline futures climbed 0.33 cent to close at $2.0351 a gallon in New York. Ultra-low sulfur diesel rose 0.17 cent to settle at $2.3965

Regular gasoline at U.S. pumps fell to the lowest level since November 2010. The average retail price fell 0.2 cent to $2.81 a gallon Tuesday  (go to article)

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Oil price drop brings back memories of 1986

Bloomberg -- NEW YORK—The last time that U.S. oil drillers got caught up in a price war orchestrated by Saudi Arabia, it ended badly for the Americans.

In 1986, the Saudis opened the spigot and sparked a four-month, 67 per cent plunge that left oil just above $10 (U.S.) a barrel. The American industry collapsed, triggering almost a quarter-century of production declines, and the Saudis regained their leading role in the world’s oil market.

So while no one expects the Saudis to ramp up output now like they did then, and U.S. shale oil companies are pledging to keep drilling regardless, the memory of that bust looms large for American industry executives on the eve of OPEC’s meeting Thursday. As the Saudis gather with officials from the 11 other OPEC nations in Vienna, analysts are split on whether the  (go to article)

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U.S. Refiners Looking Closer to Home to Buy Their Crude

Bloomberg -- The U.S. is relying the most in four decades on oil from the Americas as the shale revolution reduces imports from the Persian Gulf and Africa.

Countries outside North, Central and South America supplied the smallest portion of foreign crude in August to the U.S. in government records dating back to 1973. Surging production in Canada and the U.S. has reduced the need for cargoes of light oil, with the remaining imports of heavy crude more likely to be from Mexico or Venezuela than Nigeria or Saudi Arabia.

The shift is another sign of how the North American energy revolution is affecting some suppliers more than others.

U.S. refiners built the capacity to use heavy crude, so this is the natural home for Latin American heavy oil, said John Auers, executive vice president of the Dallas-bas  (go to article)

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US House To Hold Hearing On Oil Export Ban

Reuters -- A House of Representatives panel will hold a hearing on Dec. 11 to explore whether a decades-old law that prohibits the export of crude oil makes sense in an era of domestic energy abundance.

The House subcommittee on energy and power, chaired by Representative Ed Whitfield, will hone in on the 1975 Energy Policy and Conservation Act, drafted in response to the 1973 oil crisis. The law prohibited the export of most crude oil, created the Strategic Petroleum Reserve and Corporate Average Fuel Economy rules for cars and trucks, also known as CAFE standards.

"We need to take a comprehensive look at where we came from, where we are today, and where we want to go from here," Whitfield said in a release.

The debate over whether Washington should lift its nearly 40-year crude oil export ban wi  (go to article)

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Ultra-Strong Graphene's Weak Spot Could Be Key to Fuel Cells

NBCNews -- In a discovery that experts say could revolutionize fuel cell technology, scientists in Britain have found that graphene, the world's thinnest, strongest and most impermeable material, can allow protons to pass through it.

"We are very excited about this result because it opens a whole new area of promising applications for graphene in clean energy harvesting and hydrogen-based technologies," said Geim's co-researcher on the study, Marcelo Lozada-Hidalgo.
 (go to article)

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Saudi Oil Minister Naimi suggests OPEC does not need to cut output in effort to drive up price

Associated Press -- Ali Naimi said Wednesday he expects the oil market to eventually "stabilize itself." That suggests the Saudis, who effectively determine OPEC's policy as its top producer, will not back any calls for reducing output by other nations at Thursday's oil ministers' meeting  (go to article)

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US oil ends lower after report says OPEC won't cut production

Reuters -- U.S. oil prices settled lower on Wednesday after Saudi Arabia's oil minister said he expects OPEC members to reach a unified decision later this week, but he would not disclose details on the decision, according to Dow Jones reported.
A Gulf OPEC delegate told Reuters the GCC had reached a consensus not to cut oil output. Three OPEC delegates separately told Reuters they believed OPEC was unlikely to cut output when the 12-member organisation meets on Thursday.
 (go to article)

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NTSB demands nationwide Takata Recall

Detroit News -- The National Highway Traffic Safety Administration on Wednesday formally demanded the Japanese auto supplier Takata Corp. declare that millions of vehicles sold with driver-side air bags nationwide are defective — the first step toward forcing the company to recall the vehicles.

Takata has until Dec. 2 to respond. If it refuses, the next step will be for NHTSA to issue an initial decision demanding a recall and to schedule a public hearing. If Takata refuses following the hearing, the agency would have to go to court to enforce the recall demand.  (go to article)

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'Black Friday' brings compelling deals on new cars

GasBuddy Blog -- Seize the day! Black Friday sales, promoted by manufacturers and individual dealers, can mean significant savings for consumers in the market for a new vehicle at this time of year.The day after Thanksgiving is an opportunity for wise car buyers to skip the crowds at malls and big-box stores and instead head to their local dealer where considerable savings are to be found on a wide range of vehicles.Chevrolet, for example, is running the Chevy Black Friday Sale, which offers zero-percent financing, $1,000 cash back and no monthly payments until next year on a number of models, including the 2014 Camaro, 2014 Silverado 1500 pickup, 2014 Cruze sedan, 2015 Malibu sedan, 2015 Traverse SUV and 2015 Equinox compact SUV. ...  (go to article)

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Error Leads Casey’s to Revise Financial Results

Convenience Store News -- ANKENY, Iowa — Casey's General Stores Inc. paid $31.5 million to the Internal Revenue Service (IRS) due to an inadvertent accounting and reporting error related to the treatment of the excise tax on ethanol. This payout comprises $30.4 million in taxes and $1.1 million in interest.  (go to article)

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Taking Command of Fuel Pricing

CSP Daily News -- SCOTTSDALE, Ariz. -- Declining gas volumes, heavy competition from inside and outside the convenience store channel, and regulatory burdens are just a few of the challenges that make the business of selling fuel one tough slog. For two retailers who attended an educational session on fuel pricing strategy at CSP's 2014 Outlook Conference, the key is taking control of the offer before it takes control of you.  (go to article)

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Tesla Motors and Germain Hotels offer EVs a free charge

The Gazette -- Tesla chose the QC-based hotel chain for its 1st Canadian “Destination” charging program partly because of the companies’ common sustainability ambitions. The private network will deliver a full charge in 4-to-8h

Groupe Germain hotels, under the Le Germain and Alt banners, are stretched as far W as Calgary and the company is seeking the right site to expand to Vancouver

Universal and Tesla charging stations are already located at Groupe Germain hotels in QC City, Montreal and Toronto. “Destination” units will be added in the New Year, starting with Calgary

"EV-driving guests can now have peace of mind knowing they can get a full charge overnight or while attending on-site meetings

The Model S is a premium zero-emission EV sedan with a range of about 285mi at an average of 247mi/gal  (go to article)

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EIA: Crude, gasoline inventories rise

GasBuddy Blog -- The Energy Information Administration released its weekly report today on the status of petroleum inventories in the United States.

Here are some highlights:

CRUDE INVENTORIES:
Crude oil inventories increased by 1.9 million barrels to a total of 383.0 million barrels. At 383.0 million barrels, inventories are 8.4 million barrels below last year (2.1%) and are in the upper limit of the average range for this time of year.

GASOLINE INVENTORIES:
Gasoline inventories increased by 1.8 million barrels to 206.4 million barrels. At 206.4 million barrels, inventories are down 4.2 million barrels, or 2.0% lower than one year ago. Here's how individual regions and their gasoline inventory fared last week: East Coast (-0.4mb); Midwest (-1.2mb); Gulf Coast (+3.6mb); Rockies (+0.3mb); and West Coast (+0.6mb). It is important to note which regions saw increases/decreases as this information likely drives prices up (in the case of falling inven  (go to article)

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OPEC wants higher oil prices, but lower prices looming as politics, economics get in the way

Associated Press -- NEW YORK – These are the moments OPEC exists for: A sharp drop in global oil prices has reduced the amount of money OPEC countries take in by nearly $1 billion a day.

The 12-member group's purpose is to coordinate how much oil is produced in order to keep prices high and stable and maximize member countries' revenue while making sure global demand for oil stays strong. A steep, coordinated cut in output could stop and possibly reverse what has been a 30 percent decline in prices over five months.
 (go to article)

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OPEC can no longer call all the shots on its own,says oil industry veteran

Bloomberg News -- The days when OPEC members could all but guarantee consensus when deciding production levels for oil are long gone, according to a veteran of almost two decades of the group’s meetings.

The global glut of crude, which has contributed to a 30% decline in prices since June 19, has left the Organization of Petroleum Exporting Countries disunited and dependent on non-members to shore up the market, said former Qatari Oil Minister Abdullah Bin Hamad Al Attiyah. The 12-member group is set to meet in Vienna on Nov. 27.
 (go to article)

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Saudi Arabia Says Oil to Stabilize

Bloomberg -- Saudi Arabia’s oil minister said crude prices will stabilize while the United Arab Emirates said OPEC will do what it takes to balance the market. Angola predicted the 12-nation group will reach a consensus when it meets tomorrow.

The “market will stabilize itself,” Ali Al-Naimi, the Saudi minister, told reporters in Vienna today. The world’s largest oil exporter yesterday failed to agree a plan with Russia, Venezuela and Mexico to curb output. Iran’s oil minister said there is an oversupply of crude.  (go to article)

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IL Fracking Rules To Proceed, Despite Landowners Concerns

Associated Press - Published by MBT -- A judge in southwestern Illinois has denied a bid by a landowners group to suspend the state's new rules for high-volume oil and gas drilling, ruling that the plaintiffs failed to show they would suffer immediate harm if the practice commonly known as "fracking" was to go forward.

Madison County Circuit Judge Barbara Crowder rejected the request for a preliminary injunction on Friday, three days after she heard arguments about the rules meant to regulate hydraulic fracturing.
 (go to article)

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Oil price could fall to $60 if OPEC does not cut output this week

Reuters/Financial Post -- LONDON — Oil prices could plunge to $60 a barrel if OPEC does not agree a significant output cut when it meets in Vienna this week, market players say.

Brent crude futures have fallen 34% since June to touch a four-year low of $76.76 a barrel on Nov. 14, and could tumble further if OPEC does not agree to cut at least 1 million barrels per day (bpd), commodity fund managers say.

“The market would question the credibility of OPEC and its influence on global oil markets if there was no cut,” said Daniel Bathe, of Lupus alpha Commodity Invest Fund.  (go to article)

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Anti-pipeline grandma willing to go to jail by violating B.C. court order

Canadian Press -- An 84-yr-old retired librarian says she’s willing to violate a court injunction and go to jail as she and other anti-pipeline protesters take a stand against fossil fuels by interfering with survey work in Burnaby, BC

Barbara Grant joined activists on Tue to demonstrate against KM’s proposed plan

Grant said she has the support of her 3 children and 3 grandchildren, some of whom have joined the protest as crews drilled 2 bore holes into Burnaby Mountain before a decision on the project by the NEB

“This pipeline must be stopped,” Grant said, noting crews were working on public land. "The NEB process by which the KM cause is being advanced is totally undemocratic

“The financial benefit is all for KM and those who have money invested in the oilsands. But there’s very little benefit to BC  (go to article)

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M.T.A. Issues Plans on Higher Fares and Tolls

New York Times -- The Metropolitan Transportation Authority released its proposals on Monday for higher fares and tolls and began its campaign to win over riders and drivers skeptical of what are now routine increases.

Fares for subways and buses and tolls for bridges and tunnels are scheduled to rise by 4 percent in March as part of the authority’s long-term revenue plans. The proposals detail the options the board is considering for how to carry out the increase. It will vote in January after a series of public hearings.  (go to article)

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Don't panic! OPEC not ready to reverse oil price slide

CNN MOney -- Thursday's OPEC meeting is set to be one of the most contentious since oil prices plummeted by more than $100 a barrel in 2008.

Saudi Arabia's veteran energy minister Ali Al Naimi has carried the burden of trying to balance global oil supply with demand for nearly two decades.

But there are signs that Saudi Arabia is no longer willing to play that role.  (go to article)

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Infiniti SYNAPTIQ: A wearable racecar you control with your mind

Fox News -- The 2014 LA Auto Show asked – for its Design Challenge – how will humans interact with cars in 2029?

Infiniti’s response was the Infiniti SYNAPTIQ: A flying racecar that you can wear and control with your mind.

A group of Infiniti designers from San Diego came up with the design, which integrates augmented reality, 3D hologram and wearable technologies as part of the futuristic everyday driving experience.  (go to article)

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B.C. government gives environmental green light to three LNG projects

Canadian Press -- 3 proposed multiB-$ LNG projects in N BC have been awarded the environmental green light by the provincial government

The ministries of Environment and Natural Gas Development now have environmental assessment certificates for 2 pipelines and 1 export facility

The Westcoast Connector Gas Transmission pipeline and the Prince Rupert Gas Transmission pipeline would start near Fort St. John and Hudson’s Hope, and end hundreds of miles away on the coast in Prince Rupert

Capital costs are expected to hit $7.5B and $5B

The Pacific NW LNG export facility would be built in the Port of Prince Rupert and its estimated capital cost is $11.4B

The Environment Ministry says the projects still need permits from all 3 levels of government, and the LNG is still subject to a federal environmental assess  (go to article)

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At OPEC Meeting, Saudi Arabia Stares Down Texas and North Dakota

BLOOMBERG BUSINESSWEEK -- On Thanksgiving Day, what used to be the world’s most powerful oil cartel will gather in Vienna to decide how much oil to produce. Right around the time that the Bears and Lions are getting underway at in Detroit, delegates of the 12-member Organization of Petroleum Exporting Countries will finish a closed-door meeting and announce to the world how much oil they intend to collectively pump over the next year.

In another setting, a group of people who sell the same product getting together to talk about ways to manipulate prices would be seen as blatant collusion. But this is OPEC—that’s basically the whole point. The founding premise back in 1960 was to wrest control of oil production—and the ability to set prices—from the handful of large Western oil companies that had taken over much...  (go to article)

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Lower Gas Prices Help Thanksgiving Travel

WSPD -- COLUMBUS, Ohio (WSPD) It will be busy on the highways and at the airport this Thanksgiving holiday.

AAA predicts 46.3 million Americans, including nearly 1.89 million Ohioans, will travel at least 50 miles from home between Wednesday and Sunday.

"That's an increase of 4.2 percent nationwide and 4.5 percent for Ohio from last year and marks the highest Thanksgiving travel volume since 2007," said AAA Ohio's Kimberly Schwind.

The overall economic picture has improved since last year, which is helping to drive the increase in Thanksgiving travel. Falling gas prices have also improved consumer spending power this year. Ohio’s average gas price fell below $3 a gallon Oct. 24, for the first time since Dec. 2010. Since then, motorists have enjoyed multi-year lows at the pump.  (go to article)

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Brimming with swagger, U.S. oil producers adopt drill on mantra as OPEC power wanes

Bloomberg News -- The U.S. has the most to gain and the least to lose as Saudi gathers with its OPEC allies this week to discuss the cartel’s response to falling crude prices

For the oil industry, a significant production cut by the OPEC would lift prices and profits across the board and help finance further U.S. energy innovation. And while a weaker OPEC response — or no move — would put more pressure on energy companies, the industry is increasingly insulated by burgeoning N Am output. Either way, U.S. producers already know what they’re going to do: drill on

“The technological advances we’ve made underpin virtually everything right now

The swagger of U.S. producers in the face of plunging oil prices shows the confidence they’ve gained from upending OPEC’s 6 decades of market dominance with technology  (go to article)

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Lawmakers considering options for funding transportation projects; gas tax hike among ideas

FOX BUSINESS-AP -- New Jersey lawmakers continue to weigh a number of options aimed at paying for transportation projects across the state, including some that could hit drivers' wallets when they go to fill their gas tanks.

One problem with the state's transportation trust fund is that all the money the state sets aside for it goes toward paying down existing debt. Meanwhile, the program to finance roads and bridges also includes debt — a combination of bonds and cash from the Port Authority of New York and New Jersey.

The Legislature and Gov. Chris Christie want to reach an agreement for transportation funding by July 1, when officials will have to decide whether to take on more debt or abandon new projects.

A closer look at options being discussed and how they could affect residents.
 (go to article)

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Your phone can help you map and app your way through Thanksgiving roads, rails and skies

Star Tribune -- Traveling by plane, train or automobile can be a headache. Mixing in Thanksgiving can make it a throbbing migraine. Technology provides some pain relief in the form of apps to let you know which roads are clogged, what gate your flight leaves from and whether trains are running on time.

The American Automobile Association forecasts that the Wednesday through Sunday period will see more than 46 million Americans travel at least 50 miles from home — the most Thanksgiving road warriors since 2007. About nine in 10 are expected to drive — or be driven — with about 3.6 million flying.

Here are some ways to make the journey a bit less taxing.

PLANES

FlightAware tracks not only your flight's status but also any delays or cancellations, even gate changes. Set it up for a specific trip and it w  (go to article)

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Thanksgiving gas prices lowest since 2009

Fuel Fix -- The national average price of regular gasoline fell for a 60th straight day as millions of Americans prepared to hit the road for Thanksgiving travel.

AAA reported that the national price for a gallon was $2.81 Tuesday. , the lowest since Thanksgiving 2009, when prices were at $2.63 a gallon.

That could mean what is typically the busiest travel day of the year in the United States could get even busier — AAA estimated that 46.3 million people could choose to drive over Thanksgiving, a 4.2 percent increase over 2013.

The dip in gas prices could also mean more traffic from Black Friday shoppers — for every 1 percent drop in gas prices, Americans save $3.7 million, according to the the National Association of Convenience Stores. The savings could provide extra cash for more purchases.  (go to article)

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Thanksgiving weekend now most dangerous on Minnesota roads

Star Tribune -- Thanksgiving holds a more dubious honor than being the best day to gather ’round for a turkey dinner.

As people rush across the state to family feasts, careless drivers, slippery roads and speeding cars make Thanksgiving weekend the most likely holiday period to have a wreck on Minnesota’s roads.

Distracted driving was the most common factor in 564 crashes involving 1,436 cars between Nov. 27 and Dec. 1 last year, state records show — ahead of failure to yield to other motorists, speeding, and driving while on drugs or alcohol.

And authorities say they’re on guard for drunk motorists following “Blackout Wednesday,” a Thanksgiving Eve binge-drinking tradition among many young people that even has its own Twitter hashtag.

“While we want people to enjoy that time with their friends and lo  (go to article)

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Oil Bust of 1986 Reminds U.S. Drillers of Price War Risks

bloomberg -- The last time that U.S. oil drillers got caught up in a price war orchestrated by Saudi Arabia, it ended badly for the Americans.  (go to article)

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Canada’s $9-billion auto sector bailout lacked proper oversight, says Auditor General

Financial Post -- The federal government was flying blind at some points during its bailout of GM and Chrysler during the financial crisis, and Parliament still doesn’t have a complete picture of whether the assistance was worth it, according to a new report from Canada’s AG

Ottawa was working “in a period of high uncertainty and within tight time frames,” but says more could have been done

The government has still not provided a comprehensive report on the bailout’s effectiveness, more than 5 years later

Ottawa’s lead negotiator on the bailout said the government’s contribution is abundantly clear

“I’m certain that if we had not provided our support, the companies would have been liquidated

In total, the federal and ON contributed $13.7B to the 2 companies, supplementing the $66B bailout from the U.S.  (go to article)

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What to Expect From OPEC Meeting

FOXBusiness -- While it appears that OPEC indeed is going to get a deal on a production cut, already the markets are questioning whether it is going to be enough. The talk is that OPEC as a cartel is going to cut production by 1 million barrels a day at their meeting November 27th. Non-OPEC producer Russia, in order to get the Saudi’s to agree to a cut, pledged to cut production by about 300,000 barrels per day.  (go to article)

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US energy is growing, and so is US 'power'

CNBC -- America's unexpected transformation into the world's biggest natural gas producer and one of the globe's largest oil producers will give the U.S. more geopolitical clout on the world stage—including in key relationships with China, Russia and the Middle East.

By 2020, the U.S. is likely to be energy independent, along with Canada, its biggest import and export partner. Add to that a new boom expected from a reforming energy industry in Mexico, and North America will more than hold its own as a powerhouse in the global energy market.
The ripple, however, will be increasingly felt across the world. In the next several years, the European Union could be importing U.S. gas—and possibly even oil, if current laws change—lessening Russia's stranglehold on the European economy.  (go to article)

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Oil futures fall as Venezuela says no output cut from Tues meeting

Reuters -- Crude oil futures extended their losses on Tuesday after Venezuela said officials at a meeting with Saudi Arabia's oil minister did not agree on any output cut.

Saudi Arabian Oil Minister Ali al-Naimi met with his counterparts from Venezuela, Russia and Mexico in Vienna before Thursday's meeting of the Organization of the Petroleum Exporting Countries.  (go to article)

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Top Ten Thanksgiving Travel Tips

GasBuddy Blog -- Thanksgiving travelers are about to tip their farewell hats and begin their road trips, and just in time, GasBuddy is offering some foolproof ways to make it to your destination even cheaper!

Here's our list of the Top Ten Thanksgiving Travel Tips:
Download and use the FREE GasBuddy app to shop for the cheapest gas prices, no matter where you're running low on fuel. (I'm hoping that most of you already have the free app, seeing how you're reading this on GasBuddy's website). If you'd like to share the app with a friend, give them this link: gasbuddy.com/GasBuddyMobileApps.aspx
Watch those state lines!! EEK! Did you know crossing from Missouri into Illinois the taxes on every gallon of gasoline jumps over 20 cents per gallon? In turn, you'll pay way more if you wait until you're in Illinois to fill up! Or when you leave California and hit Arizona the gas tax drops over 30 cents per gallon? New Jersey's gas tax is almost 30 cents per gallon lower than  (go to article)

Submitted Nov 25, 2014 By:
PD
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Saudi, Russia pre-OPEC talks yield no oil output cut

Reuters -- VIENNA - Impromptu talks between Saudi Arabia, fellow OPEC member Venezuela and oil powers Russia and Mexico yielded no agreement on Tuesday on how to address a growing oil glut, ending without any plan to cut output despite a collapse in prices.  (go to article)

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Oil Boom Triggering Cowboy Shortage Across Canada

Bloomberg -- There’s been a lot of attention paid to how Canada’s oil boom has helped make gasoline cheaper. What many people may not realize is that the boom is also driving up the prices they pay for burgers and steaks.

Surging energy investment in Prairie Provinces, home to most of the nation’s farms and cattle ranches, has boosted domestic crude output to a record and sent pump prices to a three-year low. That’s led to jobs on drilling rigs or pipe crews paying two-thirds more than those in livestock, luring cowboys and beef-plant workers to the oil patch.

The labor shortage is squeezing a cattle industry already diminished over the past decade by mad cow disease, drought and floods. The herd in Canada, the world’s eighth-largest beef exporter, is the smallest in 21 years. Beef supplies are so ti  (go to article)

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Enterprise Said to Offer U.S. Condensate for 2015 to Asia

Bloomberg -- Enterprise Products Partners, which got U.S. approval to ship condensate overseas this year, is offering to export the lightly processed oil to Asia in 2015, according to three traders with knowledge of the matter.

Enterprise is seeking to sell 600,000 barrels a month of condensate from the Eagle Ford formation, said the traders, asking not to be identified because the information is confidential. Potential buyers were required to make their bids by Nov. 22, they said.

Enterprise is offering to sell the cargoes as pressure increases on federal policy makers to lift the ban on U.S. crude exports amid a shale boom that’s propelled the nation’s output to the highest level in more than three decades. BHP Billiton Ltd. plans to export U.S. condensate that’s been run through distillation tower  (go to article)

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Canadian fracking boom ‘like a new lease on life’ for economy in the West

Postmedia News -- The boom in hydraulic fracking isn’t merely revolutionizing the world of oil and gas — from horizontal drilling to declining commodity prices — it’s also transforming small towns like Kindersley, SK. There, a growing population, subdivisions under construction and rising new hotels are all signs of the good times in the oilfield

“The fracking story is really a small-town story,” said one senior executive at a leading oil producer in W Can. “It’s revitalized legacy oilfields … it’s like a new lease on life

Kindersley, for example, has embraced the oil-production renaissance: The town is selling its treated municipal wastewater to oilfield-service companies for use in fracking or other water-intensive applications at well sites

The century-old town is now home to more than 5,000 people in  (go to article)

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In a self-driving future, we may not even want to own cars

LA Times -- Skeptics, however, should consider the cynicism that greeted the horseless carriage more than a century ago, said Adam Jonas, an auto analyst with Morgan Stanley Research.

Then, he said, skeptics asked: "Why would any rational person want to replace the assuredness of that hot horse body trustily pulling your comfortable carriage with an unreliable, oil-spurting heap of gears, belts and chains?"  (go to article)

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UPDATE 7-Brent above $80 as Saudis holds talks ahead of Thursday OPEC

Reuters -- Saudi's Naimi meets Russian, Venezuelan and Mexican counterparts Meeting held ahead of Thursday's OPEC summit (Recasts and updates with market up amid pre-OPEC talks held with Saudis)

By Barani Krishnan

Nov 25 (Reuters) - Oil prices rose on Tuesday, with Brent crude above $80 per barrel, after news that Saudi Arabian Oil Minister Ali al-Naimi was meeting with his Russian, Venezuelan and Mexican counterparts ahead on an OPEC meeting that could cut output.

Oil ministers from OPEC member countries will hold a summit in Vienna on Thursday amid a drop of roughly 30 percent in oil prices since June.

Tuesday's talks with al-Naimi was also attended by Russia's most powerful oil official, Igor Sechin, who is head of state oil company Rosneft, sources told Reuters.  (go to article)

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Iran Agrees to Cooperate With Russia on Oil Market, Shana Says

Bloomberg -- Iranian President Hassan Rouhani agreed to cooperate with Russia to support oil markets in a phone conversation with that country’s leader Vladimir Putin, according to Shana, the Iran oil ministry’s news service.

Rouhani and Putin “agreed on necessary cooperation” to shore up crude prices during the call yesterday evening, Shana said. The report provided no details of what the two presidents agreed on or whether they would take joint action.

The Organization of Petroleum Exporting Countries will meet Nov. 27 to decide how to respond to the slide in crude prices and whether to cut production. Brent crude, the European oil benchmark, dropped into a bear market last month after falling more than 20 percent from its high for the year in June.

Declining prices are hurting oil exporters inclu  (go to article)

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Leaked: The Oil Lobby's Conspiracy to Kill off California's Climate Law

Bloomberg Businessweek -- A Powerpoint deck now being circulated by climate activists—a copy of which was sent to Bloomberg Businessweek—suggests that there is a conspiracy. Or, if you prefer, a highly coordinated, multistate coalition that does not want California to succeed at moving off fossil fuels because that might set a nasty precedent for everyone else.

Created by the Western States Petroleum Association (WSPA), one of the most powerful oil and gas lobbies in the U.S., the slides and talking points comes from a Nov. 11 presentation to the Washington Research Council. The Powerpoint deck details a plan to throttle AB 32 (also known as the California Global Warming Solutions Act of 2006) and steps to thwart low carbon fuel standards (known as LCFS) in California, Oregon, and Washington State.  (go to article)

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