Higher Oil Prices Could Lead to Higher Overall and Core Inflation Rates: St. Louis Fed Analysis

Although the price of petroleum has moderated recently, a permanent increase to $150 per barrel by the end of 2008 could have a significant negative effect on the rate of real gross domestic product (GDP), at least in the short run, based on an analysis from the Federal Reserve Bank of St. Louis. Kevin L. Kliesen, an economist with the St. Louis Fed, analyzed the price of oil and the U.S. macroeconomy... 

Ethanol plant inches toward goal of April 2007 construction

After more than two years of working diligently to make an ethanol plant near Erskine a reality, Agassiz Energy, LLC is inching nearer to its goal of starting construction in April 2007. By the end of this month, the company will have taken a giant leap with two major components in the process completed. Beginning Oct. 18, qualified Minnesota, North Dakota and South Dakota residents, businesses or... 

Liberty Mine workers see bright future

Miners from the now-closed Liberty Mine heard an optimistic report Friday morning by United Mine Workers officials about the future of coal mining in Southern Illinois. But for many of the 141 miners, the future is not soon enough. The union miners were handed pink slips on July 13 when Liberty officials idled the mine that is located just off of Harco Road, near Galatia. Approximately 75 of the miners... 

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Cygnus Oil and Gas adds three new board members

Cygnus Oil and Gas Corporation has announced the appointment of three new members to its Board of Directors – Mr. Ted E. Davis, Mr. Ralph D. McBride, and Mr. Alfred J. Moran. The Cygnus Board is now composed of four independent directors in addition to our Chairman and CEO. Mr. Ted E. Davis retired in 2000 after thirty-five years with Conoco, Inc. from his position as President, Exploration &... 

Johnson calls coal idea a pipedream

Secretary of State Brad Johnson told fellow Republicans Friday that Democratic Gov. Brian Schweitzer’s proposal to build a plant to convert coal to liquid fuels is ”a 10-year-long, $10-billion pipedream, built on 70-year-old technology.’’ Instead, Johnson told the Montana GOP convention he intends to ask the state Land Board on Monday to direct the state Department of Natural... 

Iran starts new work on uranium

Iran began to enrich a second batch of uranium in its research plant this week on the same day that world powers delivered a negotiating offer to Tehran conditioned on its suspension of nuclear activities, according to a report released yesterday by the International Atomic Energy Agency. The timing of the nuclear work, which Western diplomats suggested was politically calculated, appeared to signal...