06192019Wed
Last updateTue, 18 Jun 2019 6pm

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Michigan Awarded $236 Million for Water Projects

Michigan is receiving $236 million under President Barack Obama's economic stimulus plan to upgrade municipal water and sewer systems, part of a long-range effort to restore the Great Lakes, officials said Friday.

The money will boost the state's effort to reduce sewage overflows, a leading cause of water pollution in the lakes region, said Steven Chester, director of the Department of Environmental Quality.

Source: Associated Press

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U.S. in Historic Shift on CO2

The Obama administration declared Friday that carbon dioxide and five other industrial emissions threaten the planet. The landmark decision lays the groundwork for federal efforts to cap carbon emissions -- at a potential cost of billions of dollars to businesses and government.

Source: Wall Street Journal

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U.S. Rig Count Drops Below 1,000

US drilling activity continued to plummet the week ended Apr. 17—down 30 rigs to 975 working, compared with 1,743 drilling during the same period a year ago, said Baker Hughes Inc.

It marks the first time since the end of April 2003 that fewer than 1,000 rotary rigs were working in the US and its waters, and it is the lowest rig count since the week ended Apr. 2, 2003, when 972 rigs were drilling.

Source: Oil & Gas Journal

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EPA Considers Higher Ethanol Mix

The U.S. Environmental Protection Agency has opened the door to allowing higher mixes of ethanol in gasoline, a potential boon to farmers and the struggling ethanol industry, but opposed by auto makers whose consumer warranties typically are tied to the current EPA standard.

The agency Thursday said it is seeking comment on whether to allow ordinary gasoline to consist of as much as 15% ethanol, an additive that has been heavily promoted by farm states. For decades, the EPA has allowed gasoline to include up to 10% ethanol.

Source: Wall Street Journal

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Drug Makers Look to Biotech

Large pharmaceutical companies flush with cash expect an uptick in acquisitions of small and midsize drug companies, but executives say they're not going on reckless shopping sprees.

Deal hunters for Merck & Co. and Bristol-Myers Squibb Co. told biotechnology executives and venture-capitalists at a conference earlier this month they envision an acceleration of acquisitions partly because valuations in the biotechnology sector have declined. But they emphasized that they will be disciplined.

Source: Wall Street Journal

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