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Obama Confident Oil Prices Will Stabilize

WASHINGTON -- President Barack Obama said Thursday he's confident that markets will be able to ride out the situation in Libya and the price of oil will stabilize. Obama made the brief comments during a discussion with a new council of business and labor leaders he's appointed to work on economic competitiveness. He said...

Q&A: How Will the Libyan Crisis (and Its Oil) Affect the US?

Libya is different. Unlike the toppling of dictators in Tunisia and Egypt and the unrest roiling Bahrain and Iran, the violence gripping Libya, the 18th largest oil producer in the world, may have a more immediate impact on the American pocketbook. That became clear early Wednesday when the Financial Times reported that...

Obama Bans New East Coast Offshore Drilling: 3 Possible Reasons

(Dec. 1) -- Don't drill, baby, don't drill. Reversing its pre-BP oil spill disaster position, the Obama administration announced today that it will not engage in offshore drilling on the East Coast of the U.S. and the eastern Gulf of Mexico region, according to The Associated Press. The original policy, announced three...

Opinion: How California Dreamin' Became a Nightmare

(Aug. 10) -- For most of its history, California served as a beacon for millions of Americans looking for a better place to live. The state enacted sensible policies that created one of the wealthiest and most innovative economies in human history. California fostered a huge middle class that, for the most part, owned...

Nigeria on Edge as Ailing President Stays Abroad

LONDON (Jan. 12) – Nigeria has been in leaderless limbo since its president headed to what turned out to be Saudi Arabia for emergency medical treatment seven weeks ago. That long absence – during which President Umaru Yar'Adua was neither seen nor heard – led some Nigerians to suspect their head of state...