Trade Crude Oil

Washington, D.C., United States (AHN) – President Barack Obama on Thursday released ten states, from controversial burdens of the federal education law known as No Child Left Behind (NCLB), to go ahead with their reform programs as the country struggles to raise educational standards to compete on a global scale.

Addressing a select audience of state education officials, teachers, civil rights and business leaders, President Obama said, “After waiting far too long for Congress to act …We are giving 10 states, the first 10 states the green light to continue making the reforms that are best for them.”

With Congress dragging its feet over the rewrite of the NCLB law, which is five years overdue, the law is alleged to be driving the wrong behaviors, from teaching to the test to federally determined, one-size-fits-all interventions, according to the White House.

“We want high standards, and we’ll give you flexibility in return. We combine greater freedom with greater accountability,” said President Obama, adding, “Because what might work in Minnesota may not work in Kentucky — but every student should have the same opportunity to reach their potential.”

Appearing on the stage in the East Room of the White House along with the president, Education Secretary Arne Duncan said in a statement, “Rather than dictating educational decisions from Washington, we want state and local educators to decide how to best meet the individual needs of students.”

All states had the chance to seek the waivers, Obama said, adding, “39 states have told us that they were interested. Some have already applied.”

Citing ten states approved for flexibility Colorado, Florida, Georgia, Indiana, Kentucky, Massachusetts, Minnesota, New Jersey, Oklahoma, and Tennessee, the White House noted in a communique, “In exchange for this flexibility, these states have agreed to raise standards, improve accountability, and undertake essential reforms to improve teacher effectiveness.”

The announcement was welcomed by the National Education Association (NEA) calling the proposals as “temporary regulatory relief from some of No Child Left Behind’s mandates.”

“We’re encouraged by President Obama’s and Secretary Duncan’s efforts to provide NCLB waivers for relief,” said NEA President Dennis Van Roekel … But this is only a stopgap measure.”

Reiterating the NEA’s determination to “continue work with Congress on a comprehensive bill,” Van Roekel emphasized that future bills “must ensure that all students have access to quality education, well-rounded instruction, a safe and supportive learning environment, and access to qualified, caring and committed teachers.”

“Let’s make this happen,” concluded President Obama, noting, “The best ideas aren’t going to just come from here in Washington. They’re going to come from cities and towns from all across America. They’re going to come from teachers and principals and parents. They’re going to come from you who have a sense of what works and what doesn’t.”

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Washington, DC, United States (AHN) – Rep. Barney Frank (D-MA), the first openly gay member of Congress, is engaged to his long-time partner. The wedding will be the first same-sex marriage for a U.S. congressman.

New England Cable News reported late Thursday night that the lawmaker plans to marry Jim Ready, a 42-year-old small business owner from Maine.

The 71-year-old Frank has not issued a statement but a spokesman, Hank Gural, told the Boston Globe the marriage will be held in Massachusetts, the first state to legalize gay marriage.

Same-sex marriage is legal only in six states and the District of Columbia.

Frank, former chair of the House Financial Services Committee and one of the most vocal liberals in Congress, has been partners with Ready since 2007. He announced his decision not to seek re-election in November. He retires at the end of his term next January after being in office since 1981.

Explaining his decision, Frank had cited his long-held plans to focus on writing, the increasingly partisan politics in Washington, and a redrawn congressional district that would require him to introduce himself to 325,000 new constituents.

Frank began his career in politics in 1967 as an aide for then-Boston Mayor Kevin White. A Harvard Law School graduate, he chaired the powerful Financial Services Committee from 2007 until 2010, when Republicans gained majority control of the House.

It was during his chairmanship of the panel that the Dodd-Frank Wall Street Reform and Consumer Protection Act was passed to address the financial crisis. Conservative lawmakers have tried to repeal the landmark financial reform law, citing “job-killing” regulations and the continuing weak economy.

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Washington, DC, United States (AHN) – President Barack Obama on Saturday called on Congress to pass the payroll tax cut for a full year after applauding the Senate for passing a two-month extension of the bill. He refrained, however, from commenting on the Republican demand in the bill requiring him to decide whether to move forward with a controversial oil pipeline project.

“While this agreement is for two months, it is my expectation — in fact it would be inexcusable for Congress not to further extend this middle-class tax cut for the rest of the year,” said Obama. “It should be a formality. And hopefully it’s done with as little drama as possible when they get back in January.”

Wearing a navy suit and a navy striped tie, the President took no questions after making his three-minute statement in which he said, “I’m glad that both parties in Congress came together, and I want to thank them for ensuring that as we head into the holidays, folks at home don’t have to worry about their taxes going up.”

Addressing a hurriedly-called gathering in the James S. Brady press briefing room, Obama called on Congress to get “this done when they get back on Monday.”

Stressing that he would like the extension to go for the full year of 2012, he said, “And hopefully we’re going to be able to make sure that when everybody gets back next year we extend this further all the way to the end of the year.”

Obama, however, did not go into details of the agreement the Republicans struck with Democrats, slipping in a requirement for the president to make a decision within 60 days on the Keystone oil sands pipeline, a 1,700-mile pipe that could carry crude oil from Canada through the central United States to the U.S. Gulf coast.

The president took the opportunity to make a statement after the Senate voted to extend the payroll tax cut by two months. Now the measure awaits a House vote where a tug-of-war is expected, according to political pundits.

Earlier on Saturday the Senate voted 67-32 to pass a compromise spending bill to keep the government funded for the rest of the fiscal year, which ended Sept. 30. The $1 trillion spending plan cleared the House on Friday and was on its way to President Obama to sign.

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Washington, D.C., United States (AHN) – The Obama Administration heaved a sigh of relief as United States lawmakers finally on Wednesday passed three long-awaited free trade agreements bringing to an end a bipartisan tug of war stretching over years.

Welcoming the passage of South Korea, Colombia and Panama free trade agreements (FTAs), President Barack Obama said, “The landmark trade agreements and assistance for American workers that passed tonight are a major win for American workers and businesses.”

On Wednesday, Congress gave the nod to three free-trade agreements which would slash tariffs and other trade barriers with three countries while market watchers and business pundits predicted thousands of jobs would be created.

“Tonight’s vote, with bipartisan support, will significantly boost exports that bear the proud label “Made in America,” support tens of thousands of good-paying American jobs and protect labor rights, the environment and intellectual property. American automakers, farmers, ranchers and manufacturers, including many small businesses, will be able to compete and win in new markets,” Obama said in a statement from the White House.

“I’ve fought to make sure that these trade agreements with South Korea, Colombia and Panama deliver the best possible deal for our country, and I’ve insisted that we do more to help American workers who have been affected by global competition,” noted Obama, looking forward, “to signing these agreements, which will help achieve my goal of doubling American exports and keeping America competitive in the 21stcentury.”

Commenting on the passage of the trio-agreements, Secretary of State Hillary Clinton said, “The Free Trade Agreements passed by Congress tonight will make it easier for American companies to sell their products to South Korea, Colombia and Panama, which will create jobs here at home.”

“The stakes are not just economic. South Korea, Colombia and Panama are three important partners in strategically vital regions,” said Clinton, thanking, “”Presidents Lee, Santos and Martinelli for their patience and willingness to partner with the Obama Administration as these agreements moved through Congress.”

Secretary cautioned, “We will not be content until these agreements are fully implemented so that American exporters can reap the benefits as soon as possible.”

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Washington, D.C., United States (AHN) – Congress is reviewing its defense options amid growing evidence the radical Islamic group Hezbollah is expanding its presence in Latin America.

On Thursday, witnesses from public policy groups plan to testify on Hezbollah’s Latin American connections before the House Homeland Security subcommittee on counterterrorism and intelligence.

The State Department classifies Hezbollah as a terrorist organization.

Witnesses for the hearing include Roger F. Noriega, a senior fellow of the American Enterprise Institute, and Douglas Farah, a senior fellow of the International Assessment and Strategy Center.

Their testimony is expected to closely follow recent statements to a Senate committee from Air Force General Douglas Fraser, commanding officer of the U.S. Southern Command.

He said Iran and its close allies in Hezbollah are taking advantage of friendly relations with Venezuelan President Hugo Chavez, a critic of U.S. foreign policy.

Iran is increasing the number of its Latin American embassies and teaching Islam to impoverished residents of the area, Fraser said.

“There are flights between Iran and Venezuela on a weekly basis and visas are not required for entrance into Venezuela or Bolivia or Nicaragua,” Fraser said. “So we don’t have a lot of visibility in who’s visiting and who isn’t, and that’s really where I see the concerns.”

Fraser, who heads U.S. military operations throughout Latin America, described Iran’s growing influence as a “potential risk” to the region.

“It is a concern, and it is an issue we will continue to monitor for any increasing activity,” he said.

Other concerns in Congress spring from Mexico’s war with its drug cartels.

Some lawmakers say the war is weakening the Mexican government and opening opportunities for Hezbollah to join with the cartels.

Rep. Sue Myrick (R-N.C.) wrote a letter to the Homeland Security Department last year suggesting closer cooperation with the Mexican police and military to halt Hezbollah’s support of the drug cartels.

Last year, Mexican police arrested Jameel Nasr, the reputed head of Hezbollah’s operations in Mexico. He was living in Tijuana, across the border from San Diego, when he was arrested.

Evidence against him included frequent trips to Lebanon, allegedly to set up a network of Hezbollah operatives that would target Israel and Western nations. Nasr also made trips to Venezuela and other parts of Latin America, Mexican police reported.

Another part of the Islamic influence comes from Middle Eastern refugees.

About 25,000 Muslims whose families emigrated from Lebanon after the 1948 Arab-Israeli war and the 1985 Lebanese civil war live in Latin American countries.

They are believed to have helped Hezbollah with the bombing of a Jewish cultural center in Buenos Aires, Argentina in 1994. Eighty-five people died in the attack.

More recently, intelligence reports show Hezbollah has been financing training camps and propaganda operations in South America, according to U.S. officials.

Their biggest boost came from an agreement signed in 2007 between Venezuelan President Chavez and Iranian President Mahmoud Ahmadinejad.

The two leaders agreed to use part of a joint $2 billion investment fund to thwart what they referred to as U.S. domination in developing countries.

The fund originally was designed to fund oil production and to build infrastructure. They did not explain details of how the money might be used against U.S. influences.

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Washington, DC, United States (AHN) – President Barack Obama on Wednesday asked U.S. lawmakers to forego their vacations and instead concentrate on solving the nation’s problems, especially debt reduction, as he did in the recent past dealing with bin Laden and others.

Addressing journalists at a press conference in the East Room of the White House, the president said, “If by the end of this week, we have not seen substantial progress, then I think members of Congress need to understand, we are going to, you know, start having to cancel things and stay here until we get it done.”

“They’re in one week, they’re out one week and then they’re saying, “Obama’s got to step in,” the president said, adding, “You need to be here. I’ve been here. I’ve been doing Afghanistan and Bin Laden … Greek crisis. You stay here. Let’s get it done.”

Giving a personal touch to his lecture to the lawmakers who were preparing for a long recess at the end of the week, Obama cited his own young daughters as examples of how lawmakers should handle problems promptly instead of procrastinating until the last minute.

“Malia and Sasha generally finish their homework a day ahead of time,” Obama said, adding, “Malia’s 13, Sasha’s 10 … They don’t wait until the night before. They’re not pulling all-nighters. They’re 13 and 10. Congress can do the same thing. If you know you’ve got to do something, just do it.”

Obama reiterated his demand to reduce the federal debt by eliminating tax breaks for the wealthy, and called on Congress to preserve middle class programs such as Medicare and education.

“The tax cuts I’m proposing we get rid of are tax breaks for millionaires and billionaires, tax breaks for oil companies and hedge fund managers and corporate jet owners,” said Obama.

Moreover, Obama cautioned the nation of “unpredictable” cuts in federal programs as the U.S. lawmakers struggle to agree to raise the nation’s $14.3 trillion debt limit by Aug. 2.

Calling it “a jobs issue,” and “not an abstraction,” President Obama warned, “The consequences for the U.S. economy will be significant and unpredictable. We don’t know how capital markets will react.”

Arguing that he is “not engaging in scare tactics,” the president said, “These are bills that Congress ran up. The money’s been spent. The obligations have been made.”

Obama listed the consequences of not having a higher debt limit as tough decisions that would have to be made about “which bills are we going to decide to pay.” He said if Chinese investors must be paid to avoid default, it could mean not paying Social Security recipients or disabled veterans.

Ongoing debt ceiling talks led by Vice President Joe Biden collapsed last week after House Majority Leader Eric Cantor (R-VA.) walked out over tax increase demands from Democrats.

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Washington, D.C., United States (AHN) – Public transportation advocates said at a Senate Banking Committee Thursday that if transit agencies lose federal funding, the entire nation would suffer.

Sen. Tim Johnson (D-S.D.) chairman of the Banking Committee, said, “It is sometimes forgotten but reliable and accessible public transit is vital in rural areas like South Dakota, just as it is vital in large urban cities.”

Public transportation funding is among budget items members of Congress are considering reducing as they try to cut the $14 trillion federal deficit.

However, fewer bus, subway and passenger rail trips will mean more roadway congestion, transit advocates say.

“Our public transit systems connect workers with employers, keep cars off congested roads, reduce our dependence on foreign oil and get people where they’re going safely and affordably,” Johnson said.

Republicans, such as Sen. Richard Shelby of Alabama, say the federal government should subsidize local transit agencies only if they match the funds and agree to keep their systems in a state of good repair.

The Obama administration seeks to increase operating assistance to transit agencies. Operating assistance refers mostly to salaries for workers, but also recurring expenses like electricity.

“There’s no point in using federal dollars to buy brand spanking new buses for transit systems if they can’t afford to pay the drivers to put those buses into service,” Federal Transit Administration chief Peter M. Rogoff told the Banking Committee.

JayEtta Hecker, transportation advocacy director for the Bipartisan Policy Center, said public transportation will get the funding it needs only if Congress can be assured taxpayers are getting a good deal.

“We are not going to get consensus for the kinds of [revenue] increases that are required in transportation until we rebuild the credibility of the program,” she said. “A clearer set of performance objectives, clearer outcomes, clearer recognition that we’re getting value for our money.”

The Bipartisan Policy Center is a foundation that promotes policies supported by both Republicans and Democrats.

Other warnings about big cuts in public transportation came from a study released this week by the Urban Land Institute, a public policy group.

It concluded that the United States would fall behind other countries economically if transit spending is drastically reduced.

Outside of the United States, “in most of the developed world and in many emerging markets, countries have committed to fulfilling infrastructure agendas as essential for sustaining or enhancing living standards in an increasingly competitive global marketplace,” says the report.

One example mentioned in the report came from the United Kingdom, which is spending $326 billion over the next five years to stimulate its economy by investing in passenger rail, broadband access and energy production.

China is on schedule to complete 10,000 miles of high-speed rail lines by 2020, the report said.

Meanwhile, major U.S. cities like Boston, Chicago, Philadelphia and San Francisco are reducing transit service, raising fares and delaying new projects as they divert transportation funding to other priorities, the Urban Land Institute reported.

Additional budget cuts are likely for defense spending, federal employees’ pensions, student loan subsidies and farm payments, according to members of the Obama administration.

Defense Secretary Robert Gates this week described how the Pentagon is trying to figure out which weapons systems can be reduced without risking national defense.

President Obama announced a 12-year deficit reduction plan earlier this year that seeks to save $400 billion.

The Pentagon’s review of its own budget includes ways to find management efficiencies that might reduce the size of the armed forces, Gates said.

In addition, the Obama administration is doing a “serious examination” of policies that “drive dramatic” increases in health care, retirement and infrastructure, he said.

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Washington, DC, United States (AHN) – Treasury Secretary Timothy Geithner, speaking on Tuesday warned Congress that it would be catastrophic if the national debt ceiling isn’t raised.

“The consequences of that would be catastrophic to the United States,” Geithner said appearing before the Financial Services and General Government Subcommittee of the Senate Appropriations Committee.

The United States is expected to reach the current debt ceiling of $14.29 trillion by May 16, and the Obama administration has been seeking an increase in the debt limit.

“Default by the United States would precipitate a crisis worse than the one we just went through. I think it would make the crisis we went through look modest in comparison,” Geithner said in response to a question from Senator Richard Durbin (D-IL). “It would force us, of course, to cut payments to military – cut critical payments to our seniors and it would be a reckless irresponsible act to this country and I find inconceivable that the Congress would not act to increase the limit.”

“Of course that requires Congress to act in a timely matter to increase the limit. If we take more additional actions we face that – we run out of room on May 16th. There are a series of measures that my predecessors have used in the past that Congress has authorized that would give Congress a little bit more time, but those measures don’t buy us nearly as much time as they did in the past because our debt and deficits are so large now. So they will buy us an additional few weeks if Congress doesn’t act,” Geithner added.

Reiterating that not increasing the ceiling limit would be catastrophic, the Treasury Secretary said it would call into question the willingness of the government of the United States to meet its obligations. “It will shake the basic foundations of the entire global financial system. It is inconceivable that America would do that. I’m totally confident that Congress will act to avoid that, but, you know, again, to think about it in a direct sense what it does is it’ll raise dramatically the borrowing cost permanently for all Americans,” he said.

Every business for a very long period of time would raise a much higher cost of borrowing. Every family would raise a much higher cost of borrowing, unemployment will rise dramatically, thousands if not hundreds of thousands of business would fail and, would shake the confidence of the world in US financial assets and Treasuries, Geithner explained painting a grim picture. “It would be a deeply irresponsible act, inconceivable,” he noted.

Geithner said the Treasury is working on a corporate tax plan. “If you look at how the world views the United States today, the world investors are very confident that we’re going to solve this problem, but we have to earn that confidence. We have to justify that confidence and that requires us acting. And you’re right to emphasize it. I completely agree with you,” he said.

“I think it’s inevitable that Congress and the administration come together and reform comprehensively the US Tax Code, not just for individuals, but for corporations. You have a very compelling model for doing that in the commission’s proposal. A lot of merits on that basic approach which is to broaden the base and to use some of the savings from broadening the base to lower rates and lower future deficits,” the Treasury Secretary said.

The Treasury is designing a corporate tax reform that’s comprehensive, he said adding that it would lower the statuary corporate rate very substantially and pay for that by reducing or eliminating a set of special preferences for individual industries and activities in United States.

“We think that’s absolutely necessary to improve incentives for investment in the United States, and we’re hopeful that we’re going to be able to work with Congress on doing that,” he added.

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Oil prices rose Friday after Congress sent a complex tax cut extension package to President Barack Obama, bolstering hopes that demand for energy products will strengthen in the new year.

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Five conservation groups said Friday they will boycott the citizen group created by Congress to watch over Cook Inlet’s oil and gas industry.

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