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OPEC Shaken By Saudi Slashing Of Oil Prices

November 5, 2014 1:37 pm | by George Jahn, AP | Comments

The Saudis' move to cut prices to the U.S. - aimed at protecting their market share there - will exacerbate OPEC conflicts. Despite OPEC's credo of consensus and unity, the organization is de-facto controlled by its top producer. The prime motivator for the Saudis is to compete against U.S. shale oil.

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Spontaneous Combustion Destroys Grain Plant

November 5, 2014 1:26 pm | Comments

Fire crews from more than two dozen departments battled the fire in the Livingston County town of Caledonia, 15 miles south of Rochester. The site is the largest dairy feed manufacturing facility and dry fertilizer distribution center in the region.

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Israel Supporting Offshore Oil And Gas Rights For Cyprus

November 5, 2014 1:22 pm | by Menelaos Hadjicostis, AP | Comments

Turkey doesn't recognize ethnically divided Cyprus as a sovereign state and strongly opposes its gas search, arguing that it ignores the rights of breakaway Turkish Cypriots to any mineral-generated wealth. Cyprus was split in 1974 when Turkey invaded after a coup.

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Mascoma Completes Sale Of Its Yeast Business

November 4, 2014 11:12 am | by Business Wire | Comments

Mascoma Corporation, a leader in advanced bioconversion products, has announced that it has completed the sale of its yeast business to Lallemand Inc., a privately owned company that researches, develops, produces and markets yeasts, bacteria and related products.

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Bio-Rad Paying $55M To Resolve Bribery Claims

November 4, 2014 10:49 am | by Marcy Gordon, AP Business Writer | Comments

Bio-Rad Laboratories Inc. has agreed to pay about $55 million to resolve U.S. authorities' allegations that it failed to prevent bribery of officials in Russia, Thailand and Vietnam and falsified records to hide the payments.     

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Freighter Freed After Running Aground Near Detroit

November 4, 2014 10:41 am | by The Associated Press | Comments

A freighter carrying coal has been freed after running aground in the Detroit River.                            

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Judge Tosses Mining Company Violation Notice

November 4, 2014 10:35 am | by The Associated Press | Comments

A federal judge dismissed a notice from the U.S. Secretary of Labor finding that a Patriot Coal subsidiary displayed a "pattern of violations" in its operations.               

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Oil Prices Hit 4-Year Lows After Saudi Discount

November 4, 2014 10:27 am | by Pan Pylas, Associated Press | Comments

Oil prices sank to four-year lows on Tuesday following reports Saudi Arabia, OPEC's largest oil producer, is cutting its prices for customers in the U.S.                 

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U.S. Factory Orders Slip In September

November 4, 2014 10:24 am | by Josh Boak, AP Economics Writer | Comments

Orders to U.S. factories declined in September, dragged by falling demand in the volatile aircraft category.                        

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California Counties Take Fracking To The Booth

November 2, 2014 8:31 pm | by Ellen Knickmeyer, AP | Comments

Chevron, ExxonMobil and other oil companies have donated about $7 million to try to defeat the fracking bans. These measures would ban not only fracking but one of the most commonly used drilling methods in the state - steam injection. None of the three counties currently are known to host onshore fracking, which has led some to argue that the vote is no more necessary than banning ice-fishing.

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Feds Release Arctic Drilling Review

November 2, 2014 8:25 pm | by DAN JOLING, Associated Press | Comments

The agency acknowledges that there is a 75 percent chance that one or more large oil spills of 42,000 gallons or more could occur if leases are developed. A supplemental review assumes an extraction of 4.3 billion barrels over the life of the leases.

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Oil Company Lawsuit Bill Deemed Unconstitutional

November 2, 2014 8:20 pm | by Kevin McGill, AP | Comments

Judge Janice Clark's decision came a day after two of the smaller players in the suit agreed to a settlement with the New Orleans-area board, which entailed a $50,000 payment for the two Texas companies.                                      

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Fracking Ban On The Ballot In North Texas

November 2, 2014 8:15 pm | by Emily Schmall, AP | Comments

Scores of cities in other states have considered similar bans over health and environmental concerns. But the proposal in Denton is a litmus test on whether any community in Texas — the nation's biggest oil and gas producer — can rebuff the industry and still thrive.

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Mine Project Splits Alaskan Industries

November 2, 2014 8:09 pm | by Nicholas Riccardi, AP | Comments

The Pebble Mine project that is on Tuesday's ballot embodies the paradoxes of Alaska politics, starting with the unlikely trio of conservatives who put the issue on the map about seven years ago.                                           

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China's Economic Slowdown Hurts Globally, But Not U.S.

November 2, 2014 8:00 pm | by Christopher S. Rugaber, AP | Comments

The United States has been recovering steadily as China's economy has weakened. China was growing at a double-digit pace in 2010, when the U.S. was still struggling to escape the recession. Now, the U.S. economy has expanded at a four percent annual pace over the past six months.

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