Zennie In Denver for DNC Convention Media Walkthrough
...and I'm off to sleep, having just got in at 1 AM after a massively delayed flight. It's a one-day trip. The meeting's at 8 AM at The Pepsi Center.
Stay tuned. Video camera's with me as well.
And these spending cuts would be on top of the hundreds of billions of dollars of spending cuts Senator McCain needs to pay for his existing proposals including: increasing defense spending, cutting corporate taxes, eliminating the Alternative Minimum Tax (AMT), and a small tax cut for middle class families with children (a total of $125 for middle class families with 2 children and $0 for 101 million households who do not qualify). The New York Times has estimated that Senator McCain’s budget plan “will add $200 billion to $300 billion or, depending on his voluntary tax system, even more” annually to the deficit.
Without these offsets and spending cuts, the McCain budget would leave a deficit of at least $650 billion to $750 billion in 2013 alone. No wonder so many Republicans are now reporting that they’ll vote for Barack Obama in November.
Chevron Corp. has declared a force majeure on its oil exports following a particularly destructive attack on one of its installations in the Niger Delta.
Officials at the U.S. oil company said that though production was unaffected at offshore installations, Chevron could not meet its production quotas for customers because of shortfalls caused by the pipeline attack last week at the Escravos oil field in the delta.
Though Chevron would not say just how much production was lost due to the attack, Nigerian energy officials estimated the losses at over 100,000 barrels per day, a blow that prompted the company to declare force majeure, relieving them of their contractual obligations until the assaulted pipeline can be repaired and secured.
Chevron, meanwhile, is not the only company reeling from the recent increase in violence against foreign oil interests by armed militant groups in the delta. Royal Dutch Shell (NYSE:RDS-A), the leading foreign petroleum company operating in Nigeria, suffered yet another in a long list of attacks at its Bonga facility last week, prompting the Anglo-Dutch company to halt production for several days.
It wasn't the first time Shell was forced to scale back production due to militant violence. In January, Shell shut down operations at its Forcados terminal following pipeline attacks that threw its 100,000 barrel-per-day production offline. The terminal already had been shut once before because of violence and reopened in October 2007 after more than a year of halted production. Since its reopening, the facility, which can produce some 450,000 barrels per day, had been operating at a fraction of its capacity.
Now Burnett is talking with his checkbook, too. After submitting his resignation last month, he donated $3,600 to Democrat Barack Obama's presidential campaign. That came on top of a $1,000 contribution he made to Obama before rejoining the EPA last year.
A Stanford-trained economist and a Democrat, Burnett, 31, said in an interview that he was moving back to Northern California to campaign for Obama and Rep. Sam Farr (D-Carmel).
He said he was counting on them to support stepped-up efforts to curb greenhouse gases.
After Obama arrived in the Senate in 2005, the pair saw each other occasionally at official events or private dinners. Since he became the presumptive nominee, they have spoken by phone several times, aides said. But they have yet to have a formal meeting to discuss their agendas or plot strategy for the fall campaign.