New York (CNNMoney.com) - The spilled oil lapping at Gulf Coast beaches and wetlands is one tragic result of offshore drilling.
As the administration's plans to expand drilling proceed, what do we get in exchange for putting more of our coastal environment, and the fishing and tourism economies that depend on it, at risk?
New York (CNNMoney.com) - The horse trading over climate change law is in full swing, and Senators are trying to appease interests on both sides of the aisle.
In the next couple of weeks, lawmakers are expected to unveil an unprecedented proposal that combines more oil and gas drilling with a cap on greenhouse gases and a tax on gasoline.
Details on the proposal, put forth by Sens. John Kerry, D-Mass., Joe Lieberman, I-Conn., and Lindsey Graham, R-S.C., are scant – the actual bill isn't expected until at least the end of the month.
But since this may be the last time this year climate change law is discussed, timing is critical. And with health care, financial reform and looming elections on Washington's collective plate, it faces an uphill battle.
[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2008/images/12/25/art.oil.gi.jpg caption="The energy industry is bracing for Obama."]NEW YORK (CNNMoney.com) - Despite praising it publicly, the energy industry is wary of President-elect Barack Obama's incoming energy team which will likely call for major changes in the country's energy plan.
[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2008/images/07/15/art.bush.ap.jpg caption="Bush discussed the country's economic woes Tuesday."]NEW YORK (CNNMoney.com) - Under the backdrop of a deteriorating economic picture, President Bush said Tuesday he is taking action to help people with falling home values and high gas prices.
Bush highlighted plans to stabilize the mortgage lenders Fannie Mae and Freddie Mac and lift the ban on offshore oil drilling as two steps his administration is taking to address some of the nation's economic ills.
Watch: Bush: A 'tough time'
'It's been a difficult time for American families," Bush said at a press conference. "We must ensure we can continue providing credit during this time of stress."