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Lawsuit challenges tax break for AES power plant in Somerset
A long-awaited lawsuit filed Monday charges that there are 25 reasons why the tax break the Niagara County Industrial Development Agency gave to AES Corp. should be invalidated.
The suit filed by the Barker Central School District asserts that the IDA violated its own policies and state law repeatedly between Sept. 21, when the AES request [...]
Investors Eye Upcoming Economic Data
Investors will begin the second week of the year hoping for more clarity about the direction of the economy, and in turn, the markets, after Wall Street’s lackluster start to 2007.
A steady feed of economic data and a trickle of big earnings in the coming week might help the market find balance and pick a [...]
Week in Review: Energy companies announce oil discovery
Oklahoma City-based Devon Energy Corp., the nation’s largest independent producer of oil and natural gas, said Monday it again has found oil in the deepwater Gulf of Mexico.
Nearly five miles below the water’s surface, Devon and its partner, Anadarko Petroleum Corp. of Houston, hit 250 feet of net oil pay, Devon stated in a [...]
Oil firms in speedy hunt for engineers
On your mark! Get set! … “Have you ever searched for oil under the ocean floor, or helped create products to improve fuels and lubricants? Hurry now, the clock’s ticking.”
Not your typical job interview, but several oil and gas companies are resorting to unusual hiring techniques they hope will succeed where traditional recruiting has failed [...]
Spillover effect: BP in more trouble
Alaska governor Frank Murkowski said BP misled the state with satisfactory maintenance reports and launched an investigation into the oil giant’s handling of its pipeline corrosion.
Pipeline corrosion forced BP to halt production at its Prudhoe Bay field & the firm is studying if it needs to shut down the entire 400,000 bpd field, which accounts [...]
