Posts Tagged “Alternative Energy”

Perhaps many of us can rely on “wages” from the government and in exchange we can repair broken roads and maybe paint government buildings, pick up trash along the highway, and construct windmills.  This is similar to what the Germans did when Hitler took office and the people were happy and thankful to have the work.

Source: CNN.com

…During the presidential campaign, Obama proposed a $175 billion stimulus package over a two-year period, but some of his economic advisers have said recently that the package would need to be much larger.

Asked if Obama would scale up the package, given the economic conditions, Obama’s incoming senior adviser, David Axelrod, said he thinks Obama is “going to do what’s necessary.”

“I’m not going to throw a figure out here. What he said is, he wants a plan big enough to deal with the large challenges we face. And I think there’s a growing consensus across the spectrum among economists that we’re going to have to do something big,” Axelrod said Sunday on ABC’s “This Week.”

Obama on Saturday offered an outline of his economic recovery plan to create 2.5 million jobs by 2011, saying American workers will rebuild the nation’s roads and bridges, modernize its schools and create more sources of alternative energy.

Details of the plan are still being worked out by his economic team, Obama said, but he hopes to sign the two-year, nationwide plan shortly after taking office January 20.

Obama noted he will need support from both Democrats and Republicans to pass such a plan, and said he welcomes suggestions from both sides of the aisle…

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Peak oil anyone?

Source: Reuters

Crude output from Mexico’s struggling Cantarell oil field fell for the 10th month in a row in July to 974,000 barrels per day, energy ministry data showed on Tuesday.

The fading jewel of Mexico’s oil industry, Cantarell is now producing half what it was yielding at its 2004 peak, pulling down overall output in the world’s No. 6 oil-producing nation and threatening Mexico’s status as a top U.S. supplier.

The steady decline of around 15 percent annually in the field’s output has pressured the divided Congress to tweak laws in the closed energy sector. The government, with backing from centrists, hopes to push a bill through congress to allow more private participation in the state-run oil business.

The conservative government’s proposal seeks to shore up flagging output and reserves by having the national monopoly Pemex hire private companies under incentive-fee contracts, particularly in costly high-risk areas like deepwater oil.

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