Northeast braces for home heating oil increases
Via: Boston.com
New Englanders struggling this summer to pay gas prices topping $4 a gallon should brace for more bad news — home heating oil costs next winter are expected to hit record highs.One retail heating oil dealer says she expects a typical household delivery that cost $500 last winter will climb to at least $850 this winter.
“It’s going to be staggering,” said Northboro Oil Co. owner Sandra Farrell in telephone interview with The Associated Press. “It’s going to be a real problem going into this winter for everyone unless something changes.”
Farrell, whose family has owned and operated the Northborough, Mass., business since 1953, said some dealers are talking about prices in the $4.89 per gallon range for the coming winter, about $2 more per gallon than last winter. An average household usually needs four deliveries from December to March, she said.
Record-high crude oil prices have sent gasoline costs soaring this year. The National Energy Assistance Directors’ Association, which represents state-run low income energy assistance programs, recently predicted that home heating oil costs will hit record levels this winter.
The group said the national average cost to heat a home with oil this winter will be $2,593, up from $1,962 last winter. Families in cold-weather Northeast states will be hit even harder.
About 40 percent of Massachusetts homes use oil heat. More than 963,000 households in the state use home heating oil which is delivered by more than 800 distributors, many of them small businesses. In Maine, one of the nation’s coldest states, four out of five households heat with oil.
Fortis Bank predicts US Financial market meltdown within weeks
American ‘meltdown’ reason for money injection Fortis.
28th of June, 9:10
BRUSSELS/AMSTERDAM
- Fortis expects a complete collapse of the US financial markets within
a few days to weeks. That explains, according to Fortis, the series of
interventions of last Thursday to retrieve € 8 billion. “We have been
saved just in time. The situation in the US is much worse than we
thought”, says Fortis chairman Maurice Lippens. Fortis expects
bankruptcies amongst 6000 American banks which have a small coverage
currently. But also Citigroup, General Motors, there is starting a
complete meltdown in the US”
Original press release:
VOTRON BLIJFT AAN NA GOLF VAN KRITIEK
Amerikaanse ’meltdown’ reden geldinjectie Fortis
28 Jun 08, 09:10
door onze correspondent
BRUSSEL/AMSTERDAM
(DFT) - Fortis rekent binnen enkele dagen tot weken op het volledig
instorten van de Amerikaanse financiële markten. Dat verklaart volgens
de bankverzekeraar de serie ingrepen van donderdag om zich met €8
miljard te versterken. „We zijn op het nippertje gereed. Het gaat in de
Verenigde Staten veel slechter dan gedacht”, zegt Fortis-chairman
Maurice Lippens, die volhoudt dat topman Votron aanblijft. Fortis
verwacht faillissementen onder 6000 Amerikaanse banken die nu weinig
dekking hebben. „Maar ook Citigroup, General Motors, er begint een
complete meltdown in de VS.”
Fortis expects a complete collapse of the US financial markets within a few days to weeks.
Climbing Trees: Plants Move Uphill as World Warms
Via: Scientific American
Global warming is leaving trees behind, according to a new study in Science. An analysis of forest species in six French mountain ranges (the western Alps, northern Pyrenees, Massif Central, western Jura, Vosges and the Corsican range) shows that more than two thirds of them moved at least 60 feet (18.5 meters) higher on the mountainsides per decade during the 20th century.“Among 171 species, most are shifting upwards to recover temperature conditions that are optimum,” says ecologist and lead study author Jonathan Lenoir of AgroParisTech in Nancy, France. “Climate change has already imposed a significant effect in a wide range of plant species not restricted to sensitive ecosystems.”
Previous research has shown that plants at the highest elevations on mountains (and in the polar regions) have been shifting to adjust to global warming. But this is the first confirmation that entire ecosystems in lower, more temperate regions are moving as well.
“Species are not just moving at the extremes of their ranges,” says ecologist and co-author Pablo Marquet of the Pontificia Universidad Católica de Chile in Santiago. “What we show is that they are moving everywhere.”
Citing Need for Assessments, U.S. Freezes Solar Energy Projects
The timing of this event couldn’t be more telling.
Full story at: NYTimes.com
Faced with a surge in the number of proposed solar power plants, the federal government has placed a moratorium on new solar projects on public land until it studies their environmental impact, which is expected to take about two years.The Bureau of Land Management says an extensive environmental study is needed to determine how large solar plants might affect millions of acres it oversees in six Western states — Arizona, California, Colorado, Nevada, New Mexico and Utah.
But the decision to freeze new solar proposals temporarily, reached late last month, has caused widespread concern in the alternative-energy industry, as fledgling solar companies must wait to see if they can realize their hopes of harnessing power from swaths of sun-baked public land, just as the demand for viable alternative energy is accelerating.
“It doesn’t make any sense,” said Holly Gordon, vice president for legislative and regulatory affairs for Ausra, a solar thermal energy company in Palo Alto, Calif. “The Bureau of Land Management land has some of the best solar resources in the world. This could completely stunt the growth of the industry.”
Midwest levee breaks, corn price at new high
Do you see the significance of these events? Without looking at the global situation, in the US alone we are experiencing major crop losses, untold amounts of necessary topsoil that’s just been washed away, and toxic residue being distributed across a large portion of our “bread basket.” The impact of these events will be long lasting, and yet just a taste of things yet to come.
From: Reuters
The Mississippi River on Friday burst through an earthen levee that may have been weakened by burrowing muskrats, inundating a small Missouri town and adding to woes from disastrous U.S. Midwest flooding that has fueled fears of soaring world food prices.The levee break, the 36th in the last two weeks, sent a torrent of muddy water into Winfield, a town of about 800 north of St. Louis, where officials said about 100 homes and 1,700 acres of crop land would be submerged.
…“It’s a tragic, devastating disaster,” Russ Kremer, a grain and livestock farmer who is president of the Missouri Farmers Union, said of the worst Midwest floods in 15 years.
He said towns like Winfield and hundreds of thousands of acres of prime crop land submerged in the region represent “a complete loss for a lot of people. It will have a significant effect on the market.”
Heavy rains this month have caused more than $6 billion in crop damage in Iowa, Illinois, Indiana, Missouri and Nebraska, a key growing region in the world’s biggest grain and feed exporter, according to the American Farm Bureau Federation.
Corn prices hit a record at the Chicago Board of Trade in overnight screen trading on Friday at $8.25 per bushel in the July 2009 contract, more than double the 40-year average.Fears that as many as 5 million acres of corn and soybeans have been lost to flooding have pushed corn and livestock prices to the record highs.
Corn is the main feed for livestock, is used for ethanol fuel and contributes to hundreds of other food and industrial products throughout the economy.
Before the floods, stockpiles of corn in the United States — which ships 54 percent of all world corn exports — had already been projected to fall to 13-year lows next year.
So the effect on global food prices as U.S. prices rise has alarmed everyone from central bankers to food aid groups.
Inflation and job losses keep consumers glum
This isn’t good news or bad news so much as it is simply the news. What will make the difference is how you deal with this news, what plans you make or do not make, and the overall impact it has on your daily living.
Via: Reuters
…The Reuters/University of Michigan Surveys of Consumers said five-year inflation expectations remained steady at the peak of 3.4 percent reached in May, which was the highest in 13 years.
Federal Reserve officials have focused on long-term inflation expectations and the persistence of such pressures heightens their dilemma — whether to fight price growth or support a weak economy in the grips of the worst housing slump since the Depression of the 1930s.
The Surveys of Consumers said the final June reading for its index of confidence fell to 56.4 from May’s 59.8. The report said the pace of consumer spending is likely to sink at least through the start of 2009.
“Moreover, gas prices have risen to an all-time peak, food prices posted the largest increases in decades, home prices have fallen faster than any time since the Great Depression, and there has been widespread distress associated with foreclosures,” the report added.
Also weighing on consumers, data earlier this month showed U.S. employers shed jobs for a fifth straight month in May and the unemployment rate jumped to 5.5 percent, its highest in more than 3-1/2 years.
…
Oil hits fresh record above $142 a barrel
There doesn’t seem to be any true end in site. Barton Biggs advice seem to be more and more realistic as we go on.
It’s time to saddle up and Get Out of Dodge!
Via: FT.com
Oil prices extended their record breaking run on Friday after pushing above the $140 a barrel level for the first time in the previous session, driven higher by a cocktail of supply concerns, dollar weakness, inflation fears and turmoil in equity markets.Nymex August West Texas Intermediate hit a hit a record $142.26 a barrel before easing back to trade $2 higher at $141.64. ICE August Brent surged to a fresh record high of $142.13 a barrel, before edging back to stand $1.27 higher at $141.10 a barrel.
Oil prices rose by more than $5 a barrel on Thursday after Libya threatened to cut its oil production and Opec’s president warned that prices could surge as high as $170 a barrel this summer.
U.S. Stocks Tumble, Sending Dow to Worst June Since Depression
Full story at: Bloomberg.com
U.S. stocks tumbled, sending the Dow Jones Industrial Average to its worst June since the Great Depression, as record oil prices, credit-market writedowns and a slowing economy threatened to extend a yearlong profit slump.General Motors Corp., the largest U.S. automaker, plunged the most in three years as Goldman Sachs Group Inc. advised selling the stock and crude rose by $5 a barrel. Citigroup Inc. led the KBW Bank Index to an almost 10-year low as Goldman said the lender may report an $8.9 billion second-quarter charge and cut its dividend. Research In Motion Ltd., maker of the BlackBerry, posted its biggest drop since 2001 on concern competition with Apple Inc.’s iPhone is reducing earnings.
The most dangerous form of Peak Oil
Also see The world changed last week, with no headlines to mark the news
Via: RGE
Summary: Robert Hirsch describes another form of Peak Oil: political peaking. Perhaps the Middle Eastern nations can produce more oil to meet the world’s growing thirst — but will they? Is it in their interest to do so? Also, the focus of doomsters on shockwaves — instantaneous and large production cuts — ignores the more likely forms of slower political and geological peaking. Ending on a more optimistic note, history does give us some grounds for optimism.Robert Hirsch, one of the world’s top energy experts, has an important article in the February issue of Energy Policy magazine, “Mitigation of maximum world oil production: Shortage scenarios.” As usual with his work, it offers a mixture of new insights and careful analysis seldom found in Peak Oil research — on either side of the debate. I strongly recommend reading it. Unfortunately Energy Policy is subscription only. Here is a brief review of his analysis. Here are slides to an earlier presentation on this topic by Hirsch at the ASPO-USA conference in October 2007.
Political Peaking
Hirsch introduces an important concept which he (and many others) has long discussed, but only now is formally described: political peaking, an extreme form of resource nationalism.
A few nations have the bulk of the world’s remaining conventional oil reserves. There large sources of unconventional liquid fuels: heavy oil, deep-sea, polar, bitumen (oil sands), kerogen (oil shale), coal (for coal to liquids conversion). However, these have high extraction costs — both in terms of initial capital requirements and operating costs — which create operational limits on their production flows.
Utilities cut off more customers who are behind on their bills
Via: USATODAY.com
As skyrocketing food and gasoline prices strain budgets, utilities are disconnecting many more customers who fall behind on their bills, and even moderate-income households are getting zapped.Electricity and natural gas shutoffs are up at least 15% in several states compared with last year. Totals for some utilities have more than doubled.
…An NEADA survey this month shows 8% of four-member households earning $33,500 to $55,500 have had their power turned off for non-payment. “It’s hitting people in the suburbs with two cars and two kids,” Wolfe says.
The disconnects are rising as warm-weather power bills increase, some state moratoriums on winter shutoffs expire, and rates are climbing in many states.
…
Massive Offshore Wind Park to Power Delaware Homes by 2012
Full story at: DailyTech
Now one Delaware utility company is fostering a bold new idea to solve wind power location complaints for sea-bordering states — put the turbines off shore. On Monday, Delmarva Power, a major Delaware utility, announced that it was entering into a contract with Bluewater Wind to produce the nation’s first offshore wind farm.
According to Bluewater spokesman Jim Lanard, once installed there will be 150 turbines in total. Cumulatively they will provide 16 percent of the utility’s power output. The turbines will be securely anchored dozens of miles off Rehoboth Beach, Delaware.
However, Bluewater isn’t stopping there. Delmarva will only use approximately half the projected generating capacity of the farm. The remainder of the new wind farm’s juice will be sold off to other utilities.
The price tag on this incredible adventure is a cool $1.6B USD.
FDIC Staffs Up to Handle Bank Failures
Via: consumeraffairs.com
Consumers aren’t the only ones losing confidence in the economy.The Federal Deposit Insurance Corporation (FDIC) is staffing up to handle what it fears may be a wave of bank failures as the subprime mortgage mess brings down lenders.
The Wall Street Journal reports that FDIC is trying to rehire at least 25 retired employees who are specialists in dealing with bank failures. Many of the retirees dealt with bank closings in the 1980s and 1990s, following the savings and loan crisis, the newspaper said.
The FDIC identified 76 banks as potential problems during the last quarter of 2007, 11 more than in the third quarter.
“Problem” institutions are put under closer scrutiny but the agency never discloses their identity, hoping to avoid mass withdrawals by depositors. A problem bank is generally one whose capital reserves may not be adequate to meet the bank’s obligations while dealing with loan defaults and other liabilities.
Besides trying to lure back retirees, the FDIC is advertising on its Web site for employees with “skill in performing duties associated with a financial-institution closing, such as receivership management, resolutions and/or asset disposition.”
Spectre of inflation over global economy
Via: FT.com
The spectre of inflation returned to haunt the global economy on Tuesday as companies ranging from Dow Chemical of the US to South Korea’s Posco unveiled sharp price rises to combat the soaring cost of energy and raw materials.The moves by Dow, the biggest chemical group in the US, and Posco, the world’s fourth largest steelmaker, came as Charles Holliday, chief executive of the chemical giant DuPont, warned of rising inflationary pressures in the corporate sector.
“Inflation is here big time,” Mr Holliday told the Financial Times, adding that companies such as DuPont faced “tremendous cost pressures” and had the “obligation” to raise their prices to offset higher costs.
The general price pressure was exacerbated when BHP Billiton, the mining company, said the 96.5 per cent record increase in iron ore cost announced by Rio Tinto on Monday was not enough, signalling it could ask for a rise above 100 per cent with its steelmaker customers.
Israeli police: Suicide sparks Sarkozy scare
As always, we ask: What is the significance of the event?
Via: CNN.com
An
Israeli soldier committed suicide at Tel Aviv’s airport during a
departure ceremony for French President Nicolas Sarkozy, prompting
security guards to whisk Sarkozy and his wife into their plane.
Peak Oil: Skeptics doubt Saudi Arabia can boost oil supply
Via: Dallas Morning News
The Saudis have had their big show on the Red Sea. Now the oil markets will test the peak oil theory.A growing number of oil traders believe the kingdom has reached the peak of its oil production capacity and won’t be able to fill your tank in the future. They are buying and selling contracts dating all the way out to 2016, and their expectations are pulling prices toward $140 a barrel.
On Monday, the day after an emergency meeting of oil producers and consuming nations here, oil futures continued their climb, rising $1.38 a barrel to settle at $136.74.
The Saudis say they will sell whatever the market wants for the rest of this year. Production will be at 9.7 million barrels a day in July, up 200,000 barrels from where it is now. If the market wants 10 million barrels a day, that’s available.
2500-3000 People Show Up for Food Vouchers: Mini-Riot in Milwaukee
JS Online: Food relief line grows long, tense
The chaos that erupted outside Milwaukee County’s main welfare office Monday over disaster-related food aid had more to do with a weak economy and crushing poverty in parts of this community than the devastating floods that swept through the state earlier this month, local government and food relief officials said.
About 3,000 people turned out for the assistance beginning at 3 a.m. Monday, creating a line that stretched several blocks around the Marcia P. Coggs Human Services Center at 1220 W. Vliet St. At least one woman said she was trampled when a crowd rushed the doors as they opened around 7:30 a.m., and dozens of Milwaukee police officers and sheriff’s deputies were called to quell the scene.
“The food crisis in Milwaukee and throughout the United States is worse than many of us have realized,” said Milwaukee Common Council President Willie Hines, who with other elected officials called on the community to support local food pantries.
“We expect long lines for free food in Third World countries,” Hines said. “We don’t expect a line of 2,500 people waiting for food vouchers” in Milwaukee. No one was seriously injured, and there were no arrests Monday, but those in line described the scene as chaotic. Many thought they would receive vouchers immediately, and frustration mounted when some learned that was not the case.
Chinese agree 96% jump in ore prices
Via: FT.com
Global inflation fears deepened as Chinese steelmakers agreed to a record increase in annual iron ore prices in a move likely to boost the cost of cars, machinery and other products.Chinese millers agreed to pay Anglo-Australian miner Rio Tinto up to 96.5 per cent more for their ore supplies this year, the largest ever annual increase and well above the 9.5 per cent increase paid last year.
The rise suggests that demand for commodities from emerging economies remains strong, in spite of the US slowdown, fuelling fears that global inflation will continue to rise. The rise – an average 85 per cent – surpasses the record increase of 71.5 per cent agreed in 2005, when the commodities boom gathered pace.
“Commodity-led inflation risks appear to be growing,” said Tobias Levkovich, Citi chief strategist.
Sam Walsh, chief executive of Rio’s iron ore unit, told the Financial Times on Monday that the agreement indicated ongoing robust demand for commodities. “Economic growth in China, India and the Middle East continues to be outstandingly strong.”
Analysts said steelmakers are likely to pass the rise in costs on to customers, such as construction companies and car makers.
T. Boone Pickens says: Oil production has peaked
Full Story at: iht.com
Legendary Texas oilman T. Boone Pickens sees today’s stubbornly high oil price as evidence that daily global production capacity is at — or very near — its peak.If demand for crude oil rises beyond the current global output of roughly 85 million barrels per day, Pickens told The Associated Press, prices will rise to compensate and alternative sources of energy will begin to replace petroleum.
“If I’m right, we’re already at the peak,” Pickens said earlier this week in Doha, on the sidelines of the Forbes magazine CEO conference. “The price will have to go up.”
Confidence about the world’s supply of oil is being undermined by what Pickens said were overoptimistic estimates of Middle Eastern reserves, mainly by Saudi Arabia. The Saudis and other major producers ban independent verification of their reserves.
“I think there are less reserves around the world than are being reported,” said the 78-year-old former wildcatter, who now heads the Dallas-based hedge fund BP Capital. “There are no audited reserves in the Mideast. It makes me suspicious.”
IMF says US economy is set to ‘stagnate’
The US economy is likely to “stagnate” in the second half of this year, the International Monetary Fund warned on Friday, as stock markets in the US and Europe fell to their lowest levels since March and US bank shares hit a five-year low.
…The IMF said continued economic weakness would result in inflation risk going down, not up, in the coming months, and urged the Federal Reserve to keep interest rates on hold for the time being – challenging market expectations that rate increases will soon be required. The IMF also suggested that the dollar had declined to a level at which it was closer to, if not at, its medium-term equilibrium value, on a broad trade-weighted basis.
John Lipsky, second-ranking IMF official, said: “We anticipate the economy will slow to virtual stagnation in the second half of the year.” The IMF is now forecasting no growth at all in the US this year, measured from the final quarter of 2007 to the final quarter of 2008.
WARNING: National Security fears over food and fuel crisis
Via: FT.com
Western countries have upgraded the food and fuel crisis into a national security concern as they fear record high energy and agriculture commodity costs are destabilising key developing regions of the world.The concerns come as the world suffers for the first time since 1973 from the confluence of record oil and food prices. Corn, soyabean and meat prices jumped this week to all-time highs, while oil prices hit a record of almost $140 a barrel.
This shift toward a national security concern will become apparent at Sunday’s oil meeting in Jeddah, Saudi Arabia, where ministers are expected to warn that developing countries are cracking under the burden of record oil and food costs.
Saudi Arabia, the world’s largest oil producer and the only country able to raise output, has recognised the danger after developing countries, including US-ally Pakistan, pleaded for a reprieve from oil payments.
Morocco was forced last month to ask for an $800m loan from Saudi Arabia and United Arab Emirates to cushion the impact of oil and cereal imports.
Mexico freezes prices on food items to stem inflation
From: Houston Chronicle
Moving to stem rising inflation and civil discontent, President Felipe Calderon and Mexican industrialists announced an agreement Wednesday to freeze prices on more than 150 food items.
The pact, which will be in effect through the end of the year, comes amid escalating costs of corn and other staples of the Mexican diet. Companies agreed to hold prices steady for cooking oil, tortillas, flour, tomato sauce, canned soups and tuna, beans, chili sauces and other staples of the Mexican table.
“In recent months the significant increase in the price of food has been felt worldwide,” Calderon said in announcing the deal. “Maintaining the maximum prices of these products fixed will truly permit an enormous support for the household economy.”
Calderon last month ordered the easing of restrictions on imported corn, wheat and rice to stabilize local prices of those grains. He has also announced measures — criticized as insufficient by farm groups — to boost agricultural production and lower farmers’ costs.
This year’s sustained price spikes for oil, grains and other commodities have sparked riots across the developing world and parts of Europe. Food riots brought the forced resignation of Haiti’s prime minister earlier this year.
US floods hit food prices
Yes indeed, expect higher prices, and also expect shortages, just like we have seen all over the world this year. I hope people wake up to whats going on and do something constructive for themselves and their families, but my suspicion is that the herd is, and will remain, ignorant.
Via: FT.com
Consumers were warned to expect even sharper increases in global food prices after US officials said that some of the country’s best farmland was facing its worst flooding for 15 years.
…The warning comes at a time when high food prices are already sparking protests across the developing world.
…
Tom Jennings, acting director of the Illinois Department of Agriculture, said: “The price of corn and the price of beans could rise more. If we lose a lot of corn the prices will continue to go up.”
…Mr Jennings said that the impact of the heavy rains was “dramatic”.
…
Lewis Hagedorn, of JPMorgan in Chicago, said that the losses were significant.
…After weeks of heavy rains and low temperatures, the US Department of Agriculture said that only 57 per cent of the country’s corn crop is in good or excellent condition, considerably less than the 70 per cent registered this time last year.
Local farmers in Illinois said that the bad weather had delayed planting by up to five weeks, which would result in a much reduced crop of corn and soyabeans. Some farmers expected their corn production to be down by as much as 50 per cent from last year’s level.
…
They added that expensive nitrogen fertiliser – critical for the plants’ development – has now been washed out from the fields by the rains. For that reason, some farmers are likely to leave their land fallow and, instead, cash in their crop insurance policies, further reducing supply.
Former Bear hedge fund duo charged
From: FT.com
Two former Bear Stearns hedge fund managers were on Thursday indicted on federal charges that they intentionally misled investors about the financial condition of the investment vehicles that collapsed last year.In an indictment unsealed on Thursday, Ralph Cioffi and Matthew Tannin, who ran two high-profile hedge funds for Bear, were accused of telling investors that the funds were an “awesome opportunity” and of attempting to attract more money into the funds even as they were privately discussing concerns about the funds’ prospects. Mr Cioffi also allegedly transferred about $2m of his own investment from one of the funds into another fund and did not tell investors.
The men ran two high-profile hedge funds at Bear’s asset management unit that lost big bets on subprime mortgage-backed securities and imploded in June last year, losing investors $1.6bn. They two men surrendered to federal authorities on Thursday morning and were due to be arraigned in a Brooklyn court.
Flooding to inflate grocery bill across the board
From: The Des Moines Register
For consumers feeling the pinch of higher food prices, the flooding of prime Midwest farmland will bring more bad news in supermarkets through next year.By wiping out corn and soybean crops across Iowa, Illinois and other states, the flood is driving up prices that were already at historic highs and increasing the cost of feed for cattle, hogs and poultry.
Economists say that will force livestock farms to cut back on production even more than they were, and that will eventually lead to higher prices for beef, pork, chicken, milk and eggs.
“I have no choice: going broke or increase prices,” said Heinz Kramer, who expects to have to charge more for the pork and beef that he processes at a family-owned company in La Porte City.
Pork prices could be up as much as 30 percent next year because of production cutbacks, said John Lawrence, an economist at Iowa State University. Prices of beef and poultry products are likely to be at least 10 percent higher by the end of this year, he said.
“The higher the corn prices go today the higher meat prices, milk and egg prices will go a year from now,” he said.
The Agriculture Department has said that food prices overall would rise by 4.5 percent to 5.5 percent that year, but those numbers are likely to be revised upward in July after analysts get a better idea of the impact on corn supplies.
American Accused of Spying for Iraq Faces Court
From: Epoch Times
The hearing for a Maryland woman accused of acting as an unregistered agent for the Iraqi Intelligence Service began yesterday at the U.S. District Court in Manhattan. Ex-journalist and self-proclaimed anti-war activist Susan Lindauer, 48, was arrested in 2004 on charges of accepting $10,000 from the Iraqi government in 2002, according to the Center for Counterintelligence Web site.
A reporter and a professor who have known Lindauer since the early 90s testified at Lindauer’s hearing today. They reported that she was close to individuals in intelligence circles.
She allegedly met with an undercover FBI agent who was posing as a representative of the Libyan intelligence service and was seeking to support resistance groups fighting U.S. forces in post-war Iraq, according to the Center for Counterintelligence Web site.
Lindauer worked as a press secretary for several Democratic senators and representatives before she became a reporter.
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