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Saturday, April 17, 2010

Journalist, counselor, painter, and US 2012 Presidential candidate Joe Schriner of Cleveland, Ohio took some time to discuss his campaign with Wikinews in an interview.

Schriner previously ran for president in 2000, 2004, and 2008, but failed to gain much traction in the races. He announced his candidacy for the 2012 race immediately following the 2008 election. Schriner refers to himself as the “Average Joe” candidate, and advocates a pro-life and pro-environmentalist platform. He has been the subject of numerous newspaper articles, and has published public policy papers exploring solutions to American issues.

Wikinews reporter William Saturn? talks with Schriner and discusses his campaign.

Sunday, May 2, 2010

As reports came out yesterday that the oil spill caused by the explosion and sinking of an oil rig in Gulf of Mexico near Louisiana had reached the coast, the Obama administration announced a ban on all future offshore drilling at least until the investigation into the incident is completed.

Early Friday morning, the US Coast Guard received reports that oil from the spill had washed ashore, and while officials have not confirmed the reports, winds continue to push the slick northward towards land, and conditions are deteriorating, making cleanup of the spill increasingly difficult. The Coast Guard said it was planning to conduct a flyover of the slick to determine its extent sometime on Friday. According to the National Weather Service, strong winds and thunderstorms are predicted to continue through the weekend, hindering cleanup efforts.

Also early on Friday morning, a senior government official, White House advisor David Axelrod, said that the government was immediately banning all new offshore drilling until the investigation into the spill had been completed. His announcement came just after a month the administration relaxed restrictions of offshore drilling.

The operation to clean up the spill has accelerated in recent days, with the US Navy having joined the effort, as well as resources from the Coast Guard and British Petroleum (BP), the lessor of the rig at the time of the explosion. The total assets deployed in the operation are estimated to be around 1,900 people and more than 300 ships and aircraft. Additionally, six remotely operated submarines are trying to stem the leaks, which now number three, at the ocean’s floor.

On Wednesday, the estimated amount of oil spilling from the damaged well was raised to 5,000 barrels, or around 210,000 gallons, a day, five times the original estimate of 1,000 barrels a day. This figure was later revised upwards again to 25,000 barrels (1.05 million gallons) per day. So far, the cleanup operation has laid around 210,000 feet of containment booms to protect vulnerable wildlife refuges on the Gulf Coast, and an additional 66,000 feet of boom has been provided by the US Navy. Since the beginning of the operation, more than 18,000 gallons of an oil/water mix have been recovered from the ocean, and after a successful test burn of oil, plans are being made to scale the burns up. According to a BP official, “We believe we can now scale that up and burn between 500 and 1,000 barrels at a time.” The first test burned around 100 barrels of oil.

Despite the efforts, many are still worried about the potential consequences of the spill, and officials said that the damage could end up being more than that caused by the Exxon Valdez oil spill 20 years ago, which spilled 11 million gallons of oil into Alaska’s Prince William Sound. One analyst said that he expected “that movement is going to continue to stress and fatigue the pipe and create more leaks,” adding that “this is not on a good trajectory.”

BP has developed two options to stop the flow of oil at the source, but both are expected to take at least weeks to complete. The first option is to lower large structures over the leak, which would allow the oil to be safely transported to the surface. BP is building one such structure, but it isn’t expected to be completed for at least several weeks. The second option is to drill a second well which would then plug the leak at the source. A well for this purpose will begin to be drilled within two days, although it could be up to three months before the leak is completely plugged.

Wednesday, September 6, 2006

Friday, April 22, 2005

Ireland’s National Pensions Reserve Fund (NPRF) has posted a 2.4% return for the first quarter (9.6% annualized). On March 31, the funds value stood at €12.3bn, a rise of €290m (excluding state contributions) since December 31.

Donal Geaney, the fund’s chairman, told the press that growth in the past quarter had been driven by the Fund’s European equity investments.

Mr Geaney, former Élan CEO, has pursued a policy of diversification since February of this year, with the stated aim of placing a larger amount of the funds assets in companies with small market capitalizations and in property funds.

The fund was set up by the National Pensions Reserve Fund Act, 2000 to partially meet the expected rise in Irish pension costs from 2025 onwards.

Thursday, January 29, 2009

Zimbabwe has decided to abandon its currency, the Zimbabwean dollar, in favour of other currencies.

Acting Finance Minister Patrick Chinamasa announced today that Zimbabweans will be allowed to make transactions in other currencies along with the local currency. “In line with the prevailing practices by the general public, [the] government is therefore allowing the use of multiple foreign currencies for business transactions alongside the Zimbabwean dollar,” he said, adding that the Zimbabwean dollar will not be removed from circulation and would be used alongside other currencies.

This decision comes during the current period of hyperinflation, which has massively devalued the Zimbabwean dollar. Banknotes up to $100 trillion have been printed, despite the removal of ten zeroes from the currency last summer to try to make transactions easier. The official inflation rate, last updated in July 2008, was 231,000,000% a year, although independent estimates place the number as high as 6.5×10¹⁰⁸, or 6.5 quindecillion novemdecillion, percent.

Up to now, only vendors with licenses were legally able to accept foreign currencies, although the practice was widespread — private businesses altogether refuse to accept the unstable Zimbabwean dollar.

Large sections of the workforce, including teachers and doctors, have gone on strike because hyperinflation rapidly renders their wages worthless. Representative groups said salaries, now measured in trillions of dollars, are insufficient to pay for even the bus fare to work.

Zimbabwe also faces other crises, including a cholera epidemic that has claimed the lives of over 3,000 people, according to statistics from the World Health Organisation.

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Friday, January 15, 2010

Gilbert Arenas, a star player in the American National Basketball Association’s Washington Wizards, now faces up to six months in prison after pleading guilty to felony gun possession charges today in a Washington, D.C. court. This plea was part of a plea bargain that he agreed to which would shorten his jail term if he cooperated with authorities.

Arenas, 28, was charged with the crime after he allegedly pulled an unloaded gun on a teammate in the team’s locker room on December 21, which he says was a joke on the teammate. Arenas was later found to have been keeping firearms in his locker after an investigation by police and the NBA.

Meanwhile, Arenas has been suspended for an indefinite time by NBA commissioner David Stern without pay. This action has also gained support among the Washington Wizards and its players, according to the team.

According to Arenas, he stored four guns in the locker room, all of them being unloaded. When asked for his reasoning, he cited that he had young children and did not want the guns in his home around them. He also said that he did not know that keeping the guns in the locker room was a violation of Washington D.C.’s gun laws, which have grown very strict recently.

On December 19, two days before the incident, Arenas and teammate Javaris Crittenton got into a heated argument about gambling debts on the team’s private jet. Crittenton, on whom Arenas pulled the gun, is not known whether to be carrying a gun at the time of the incident, or if he pulled the gun on Arenas. A police raid of his home yielded no results, and Crittenton has not been charged in the matter.

Antawn Jamison, another star Wizard player and friend of Arenas, has not spoken with Arenas since he was charged. “Hopefully he’s doing better than what I’d be doing in the situation or better than I expect. But one thing about Gilbert, he’s a tough-minded individual,” Jamison commented on the situation.

“I’m a goof ball and that’s what I am,” says Arenas about the situation, “So, even doing something like this, I’m going to make fun of it and that’s how I am,” he added.

Arenas, 28, has been selected to three NBA-All-Star teams. He recently scored his 10,000th career point in November. Arenas also holds the NBA record for most points scored in a single overtime period, with 16.