By LOLITA C. BALDOR
Associated Press August 2, 2006 WASHINGTON - More than two-thirds of the Army National Guard's 34 brigades are not combat ready, mostly because of equipment shortages that will cost up to $21 billion to correct, the top National Guard general said Tuesday.
Lt. Gen. H. Steven Blum spoke to a group defense reporters after Army officials, analysts and members of Congress disclosed that two-thirds of the active Army's brigades are not ready for war. The budget won't allow the military to complete the personnel training and equipment repairs and replacement that must be done when units return home after deploying to Iraq or Afghanistan, they say. "I am further behind or in an even more dire situation than the active Army, but we both have the same symptoms, I just have a higher fever," Blum said. |
AFP
Tue Aug 1, 2006 WASHINGTON - The US Senate approved legislation that would make 8.3 million acres (3.4 million hectares) of Gulf of Mexico coastline available for oil and natural gas drilling.
The bill, which passed by a vote of 71 to 25, would end a quarter-century ban against tapping the coastal waters for energy, and comes as Americans face ever-spiraling prices at the gas pump and to heat and cool their homes. Proponents said the bill allows the United States to tap rich domestic supplies of energy, at a time of increasing instability in other oil-producing parts of the world. |
By Yaw Yan Chong
Reuters Wed Aug 2, 2006 SINGAPORE - Oil edged higher on Wednesday as a storm was forecast to head for the cluster of oil production rigs in the Gulf of Mexico this week and gasoline stocks in the United States were expected to fall.
Continued fighting between Israel and Hizbollah, a bomb blast on Iraq's oil infrastructure in Turkey and Iran's nuclear stand-off with the West added to the bullish sentiment. |
Reuters
Wed Aug 2, 2006 DETROIT - General Motors Corp. said on Tuesday it was restating its net loss for the just-reported second quarter, increasing the loss by $200 million to reflect a tax provision related to the sale of its finance arm, GMAC.
GM also said the closing of the $14-billion deal to sell a 51-percent stake in GMAC to an investor consortium led by hedge fund Cerberus Capital Management could be delayed beyond the fourth quarter because of difficulty in obtaining needed regulatory approval. |
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