Matt Simmons on Peak Oil Production
News Updates on the Economy

In today’s news updates we cover links about Gulf pollution, unemployment and the stock market.

Most BP Oil Still Pollutes the Gulf

Two new analyses report that huge plumes of oil generated by the BP spill continue to roam deep within the Gulf of Mexico and appear disturbingly stable. Although some natural breakdown of hydrocarbons in the oil is underway, both new analyses report evidence that this biodegradation is very slow.

N.C. loses jobs, but unemployment drops to 9.8%

North Carolina’s unemployment rate fell for the fifth straight month in July, moving into single digits for the first time in more than a year, but the state lost nearly 30,000 jobs.

Stocks slide as investors continue sell-off

NEW YORK — Stocks are falling as investors continue a sell-off that began a day earlier over worries about the pace of the economic recovery.

Investors are finding little reason to buy Friday. There are no reports due out that could negate Thursday’s disappointing news that growth in the domestic economy continues to slow.

Overseas markets also are falling, reacting to reports Thursday that initial claims for unemployment benefits in the U.S. rose last week and manufacturing in the Mid-Atlantic region shrank.

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By Published On: August 20, 2010Categories: Current News0 Comments on News Updates for Friday
Matt Simmons on Peak Oil Production
News Updates on the Economy