Wednesday, February 15, 2006

Wingnut News - A Summary

The only way I can discuss the new Abu Ghraib torture pictures is by putting them into a longer post where I can then not look at them again. Here they are. Watch at your own risk.

Homeland security. The most important fight in the war against terror, isn't it? This is what we are doing in that field:

A company in the United Arab Emirates is poised to take over significant operations at six American ports as part of a corporate sale, leaving a country with ties to the Sept. 11, 2001, hijackers with influence over a maritime industry considered vulnerable to terrorism.

The Bush administration considers the UAE an important ally in the fight against terrorism since the suicide hijackings and is not objecting to Dubai Ports World's purchase of London-based Peninsular and Oriental Steam Navigation Co.

The $6.8 billion sale could be approved Monday and would affect commercial port operations in New York, New Jersey, Baltimore, New Orleans, Miami and Philadelphia.

DP World said it won approval from a secretive U.S. government panel that considers security risks of foreign companies buying or investing in American industry.

Clearly it is a very smart move to outsource our defences this way...

But do not worry. At least the rich are still getting "tax relief":

The government may waive up to $7 billion in royalty payments from companies pumping oil and natural gas on federal territory in the next five years, the New York Times reported on Tuesday, citing administration officials and budget documents.

The royalty relief would amount to one of the biggest giveaways of oil and gas in U.S. history, even though the administration assumes oil prices will remain above $50 a barrel throughout that period, the Times report said.

The report cited estimates in the Interior Department's recent budget plan that would allow companies to pump about $65 billion in oil and natural gas without paying royalties.

The idea is to give the companies incentives to work harder to keep our SUVs on the road. Somehow the megaprofits of recent years are not enough of an incentive. But what do I know. I'm only an economist goddess.