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| Obama says climate weighs on Keystone and other decisions Wednesday, Feb 19, 2014 06:54 PM PST U.S. President Barack Obama said on Wednesday his administration needed to follow its established process to decide whether to allow the Keystone XL crude oil pipeline from Canada to go ahead, stressing that concerns about climate change needed to be at the forefront of government decisions. "I said previously that how Keystone impacted greenhouse gas emissions would affect our decision, but frankly it has to affect all of our decisions at this stage," Obama told a news conference concluding a North American summit. The U.S. government has been studying TransCanada Corp's proposed pipeline since 2008, but its review recently entered a new stage during which agencies and the public can weigh in before Obama makes his final call about whether the project is in the national interest. Harper told reporters at the news conference that a recent U.S. State Department report showed the pipeline would not accelerate climate change. Full Story | Top |
| California senators float post-2020 climate change bill Wednesday, Feb 19, 2014 06:24 PM PST By Rory Carroll SAN FRANCISCO (Reuters) - Two California state senators released a bill on Wednesday that would give regulators the authority to design a plan to meet the state's long-term greenhouse gas reduction goals and improve air quality in the state's poorest communities. The bill is an effort by Democratic senators Fran Pavley and Ricardo Lara to get the legislature's blessing for an extension of the state's pioneering climate change efforts beyond the end of the decade. But it would leave details of how to achieve the state's goals to the California Air Resources Board, which is already working on a post-2020 climate change plan. "This bill looks to the future, sending a clear signal that California intends to continue its climate leadership," Pavley said. Full Story | Top |
| In Mexico, Obama criticizes Venezuelan government Wednesday, Feb 19, 2014 06:00 PM PST  U.S. President Barack Obama on Wednesday sharply criticized the Venezuelan government for arresting protesters and urged the government to focus on the "legitimate grievances" of its people. At a news conference concluding a North American summit, Obama did not mince words in reacting to Venezuela's expulsion this week of three U.S. diplomats accused of recruiting students to lead protests in Caracas. Instead of "making up false accusations" against U.S. diplomats, the Venezuelan government should focus on the "legitimate grievances of the Venezuelan government," Obama said. Full Story | Top |
| U.S., Mexico, Canada eye ways to curb trade frictions: Obama Wednesday, Feb 19, 2014 05:15 PM PST  By Mark Felsenthal and Lizbeth Diaz TOLUCA, Mexico (Reuters) - U.S. President Barack Obama and his Canadian and Mexican counterparts on Wednesday discussed ways to reduce any trade frictions at summit in central Mexico of the North American leaders dubbed the "Three Amigos." U.S. Commerce Secretary Penny Pritzker said earlier this month that the 20-year anniversary of the North American Free Trade Agreement (NAFTA) between the three nations was an appropriate moment to look at how to "upgrade" North American trade ties. However, retooling the trade pact between Canada, Mexico and the United States is not necessary because trans-Pacific talks will cover any gaps left by NAFTA, Mexican Foreign Minister Jose Antonio Meade said this week. "We have every incentive to make this work," Obama said in the central city of Toluca after meeting with Mexican President Enrique Pena Nieto and Canadian Prime Minister Stephen Harper. The project would transport Canadian crude deep into the United States and shape the distribution of crude supplies in the region. Full Story | Top |
| California governor announces $687 million drought package Wednesday, Feb 19, 2014 05:12 PM PST  By Laila Kearney SACRAMENTO (Reuters) - California Governor Jerry Brown announced a $687 million drought-relief package on Wednesday to help residents, farm workers and local communities cope with a water shortage he called the worst in the state's modern history. Brown, joined in Sacramento by top Democratic state lawmakers, told a news conference the money would provide food and housing aid to those who have lost work because of the drought and expedite funding to state and local water conservation and reuse projects. The governor said he expected a bill containing the package to quickly pass both chambers of the Democratic-controlled California legislature and speed the money to drought-hit communities across the parched state within a matter of weeks. "Unlike a lot of problems we face here in Sacramento, this drought is not caused by partisan gridlock or ideology, it's caused by mother nature herself," Brown said. Full Story | Top |
| Keystone pipeline approval in limbo after Nebraska ruling Wednesday, Feb 19, 2014 05:11 PM PST By Patrick Rucker and Valerie Volcovici WASHINGTON (Reuters) - A Nebraska court on Wednesday voided the governor's decision to allow the Keystone XL pipeline to pass through the Midwestern state, creating another snag for the controversial project to link Canada's oil sands with refineries in Texas. Nebraska Governor Dave Heineman last year supported legislation that cleared the way for TransCanada Corp's $5.4 billion pipeline to cross parts of his state. The Nebraska Public Service Commission, or PSC, is the proper state agency to decide pipeline matters, Judge Stephanie Stacy wrote in a lengthy ruling, declaring the governor's decision "unconstitutional and void." State officials and a lawyer for landowners agreed a new permit application for the pipeline could require at least six months of work - and probably much longer. Full Story | Top |
| Wall St. falls after Fed minutes; Facebook drops late Wednesday, Feb 19, 2014 04:18 PM PST  By Rodrigo Campos NEW YORK (Reuters) - Stocks slid on Wednesday in a late selloff after minutes of the U.S. Federal Reserve's latest policy-setting meeting indicated that the central bank will keep trimming its bond-buying stimulus unless there is a significant economic surprise. The market also faced technical resistance as the S&P 500 earlier traded within a point of its record closing high set last month. Minutes from the January meeting of the Federal Reserve's policy-setting committee showed that several policymakers wanted to hone in on the idea that their asset-purchase program would be trimmed in predictable, $10-billion steps unless there is a big economic surprise this year. The statement doesn't deviate much from previous Fed communications, but market participants have been expecting the Fed to point to recent weakness in the economic data and reinforce their commitment to stimulating the economy. Full Story | Top |
| Nebraska governor to appeal ruling on Keystone pipeline Wednesday, Feb 19, 2014 04:09 PM PST WASHINGTON (Reuters) - Nebraska Governor Dave Heineman said on Wednesday he would appeal a state court ruling that invalidated his decision to allow the Keystone XL pipeline to pass through the state. The District Court of Lancaster County earlier on Wednesday upheld landowners' objections to the Keystone decision having been made by Heineman rather than the Nebraska Public Service Commission. (Reporting by Valerie Volcovici and Patrick Rucker; Editing by Peter Cooney) Full Story | Top |
| Obama, Canada's Harper agree Ukraine truce would be positive step if implemented Wednesday, Feb 19, 2014 03:53 PM PST U.S. President Barack Obama and Canadian Prime Minister Stephen Harper reacted cautiously to a truce between the Ukrainian government and opposition leaders, saying it would be a welcome step if implemented. A White House statement describing face-to-face talks between Obama and Harper at a North American summit said the two leaders condemned violence in Kiev in which at least 26 people were killed. Full Story | Top |
| North Carolina defends coal ash oversight after second leak Wednesday, Feb 19, 2014 03:47 PM PST  By Marti Maguire RALEIGH, North Carolina (Reuters) - North Carolina state officials defended their oversight of coal ash ponds on Wednesday, a day after a second leak was found to be threatening a river already tainted by toxic sludge from a spill earlier this month. The state ordered Duke Energy Corp on Tuesday to plug the second leak of arsenic-laced wastewater into the Dan River from its decommissioned Eden power plant, this time through a 36-inch stormwater pipe. The state's Department of Natural Resources (DNER) said the leak had been 90 percent contained. The agency has come under fire for its handling of the state's coal ash ponds, which it concedes are contaminating groundwater as well as harming aquatic life. Full Story | Top |
| Nebraska court invalidates state's Keystone pipeline approval Wednesday, Feb 19, 2014 03:11 PM PST By Patrick Rucker and Valerie Volcovici WASHINGTON (Reuters) - A Nebraska court on Wednesday invalidated the governor's decision to allow the Keystone XL pipeline to pass through the Midwestern state, casting new uncertainty over the controversial project to link Alberta's oil sands with refineries in Texas. Nebraska Governor Dave Heineman last year supported legislation that cleared the way for TransCanada Corp's $5.4 billion pipeline to cross parts of his state. On Wednesday, the District Court of Lancaster County, Nebraska, sided with landowners, a move that makes additional months of delay to the project, already more than five years in the planning, seem inevitable. Judge Stephanie Stacy ruled that the recent law passed by the state's legislature, which gave Heineman the decision on the route instead of the Nebraska Public Service Commission, was "unconstitutional" and "void." TransCanada has been counting on President Barack Obama to approve its pipeline plan, but Keystone backers had anticipated the support of states and landowners as well. Full Story | Top |
| California governor announces $687 million to fight drought Wednesday, Feb 19, 2014 02:48 PM PST  By Laila Kearney SACRAMENTO (Reuters) - California Governor Jerry Brown announced legislation on Wednesday to provide $687 million in emergency drought relief to the parched state, where half a million acres of cropland could go idle in a record production loss. Coming off its driest year on record, California is gripped by a drought that threatens to inflict the worst water crisis in state history. Drastic cutbacks in irrigation water could force farmers to idle hundreds of thousands of acres of cropland in a record production loss that industry officials say could cause billions of dollars in damages. WATER USE California grows half the nation's fruits and vegetables and is the top U.S. state by value of agricultural goods produced. Full Story | Top |
| Wall St. falls after Fed minutes; technicals weigh Wednesday, Feb 19, 2014 02:32 PM PST By Rodrigo Campos NEW YORK (Reuters) - Stocks slid on Wednesday in a late selloff after minutes of the U.S. Federal Reserve's latest policy-setting meeting indicated that the central bank will keep trimming its bond-buying stimulus unless there is a significant economic surprise. The market also faced technical resistance as the S&P 500 earlier traded within a point of its record closing high set last month. Minutes from the January meeting of the Federal Reserve's policy-setting committee showed that several policymakers wanted to hone in on the idea that their asset-purchase program would be trimmed in predictable, $10-billion steps unless there is a big economic surprise this year. The statement doesn't deviate much from previous Fed communications, but market participants have been expecting the Fed to point to recent weakness in the economic data and reinforce their commitment to stimulating the economy. Full Story | Top |
| Obama warns Ukraine military not to 'step over the line' Wednesday, Feb 19, 2014 02:30 PM PST  By Mark Felsenthal TOLUCA, Mexico (Reuters) - U.S. President Barack Obama called on Ukraine's armed forces on Wednesday to stay out of the country's political crisis and warned that there would be consequences for those who "step over the line." Using his toughest language so far in response to a Ukrainian conflict that has drawn threats of U.S. and European Union sanctions, Obama denounced the violence and put the onus on Ukraine's government to reach a peaceful resolution. "We hold the Ukrainian government primarily responsible for making sure that it is dealing with peaceful protesters in an appropriate way, that the Ukrainian people are able to assemble and speak freely about their interests without fear of repression," Obama told reporters at the start of a North American summit in Mexico. Full Story | Top |
| TSX climbs to near three-year high as Canadian Natural jumps Wednesday, Feb 19, 2014 01:47 PM PST  By John Tilak TORONTO (Reuters) - Canada's main stock index hit its highest level in almost three years on Wednesday, ending an 11th straight session higher, as shares of Canadian Natural Resources Ltd jumped after the company said it would acquire some natural gas assets. Devon Energy Corp said it would sell some liquids-rich natural gas assets to Canadian Natural, Canada's No. 1 independent oil producer, for about $2.8 billion, a move that helped lift shares across the energy sector. That offset weak economic data from the United States and minutes from a Federal Reserve meeting that showed policymakers supporting a predictable wind-down of the central bank's asset-purchase program. "Sentiment seems to be improving," said Youssef Zohny, a portfolio manager at Stenner Investment Partners, a multifamily office within Richardson GMP. Full Story | Top |
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