Taxpayers can't escape paying what they owe the U.S. Treasury. But for big oil companies who owe royalties, it's another matter.
Economy & Business
High prices for agricultural crops are driving farmers to plant more acres. Some of that land had been previously held back from planting because it is highly erodible. Changing weather patterns and inadequate enforcement of erosion protections are making things worse.
"Just when companies have finally stepped up hiring, rising oil prices are threatening to halt the U.S. economy's gains."
"U.S. farmers say they will plant some of the biggest corn and soybean crops ever this spring, racing to keep pace with unrelenting global demand that's rapidly depleting stockpiles and driving up food costs."
"As the United States gears up for higher vehicle fuel efficiency standards, two new reports from investors and industry experts conclude that U.S. automakers will be more profitable than they are today at a fleetwide 42 mile per gallon average in 2020."
If this happens, the agricultural community could suffer much as many people did after the recent housing-market implosion. It could significantly damage farmers, food production, certain banks, and bond holders who are the sole source of capital for some banks.
"It’s the kind of accountability journalism that makes readers raise an eyebrow, if it doesn’t raise their blood pressure first. General Electric Co., reported the New York Times last week, earned $14.2 billion in worldwide profits last year, including $5.1 billion in the United States — and paid exactly zero dollars in federal taxes."
"The birth of the 'nuclear renaissance' and proposed construction of up to 100 new nuclear reactors in the United States will be crippled by the crisis in Japan as regulators struggle to incorporate 'lessons learned' into the country's existing nuclear fleet, a former member of the Nuclear Regulatory Commission said [Friday]."