Economy

Tracking Volatile Energy Prices

Energy prices are volatile. They change as market participants adjust their expectations to new information from physical energy markets and markets for energy-related financial derivatives. Futures and options markets are a valuable source of information regarding these changing expectations.    » read more »

October 7, 2009 -- Congresswoman Louise M. Slaughter (D-NY-28) today said the state’s $11.6 billion request for additional stimulus funds to improve high-speed rail service from Niagara Falls to New York City will help spark new economic growth.

“This application is an important step forward in building a better economic future for New York,” said Slaughter. “High-speed rail has the potential to expand our regional workforce, improve commerce, generate new tourism opportunities and spark revitalization in our region for years to come. Eventually I hope to connect the Empire Corridor to Toronto, Montreal and back down to Albany creating a large economic development center.”    » read more »

10/07/09 -- U.S. Rep. Nick Rahall (W.Va.) announced today that the U.S. Department of Agriculture has approved a $1,118,000 grant from the USDA Rural Development’s Water and Environmental Program for the City of War Phases Five and Six water system upgrade and extension project in McDowell County. Funds for this project grant are being made available through the American Recovery and Reinvestment Act (ARRA) to the City of War.

“This grant award will help complete this very important water project and provide safe, public drinking water to people in the area, who have been struggling with poor quality well water for too long,” said Rahall.    » read more »

October 6, 2009 -- SANTA FE – New Mexico Governor Bill Richardson today announced more than $24 million in federal stimulus funds will go to schools, colleges, tribes and other agencies to improve energy efficiency all over New Mexico. The New Mexico Energy, Minerals and Natural Resources Department has awarded funding to 28 projects selected through a competitive process.    » read more »

October 7, 2009 -- (Lincoln, Neb.) - Nebraska Governor Dave Heineman today sent a memo to all state agencies, state boards, state commissions, and state senators expressing his concern about the 11.2 percent downturn in September tax receipts and the preparation for a possible special session to revise the state budget.

The text of the Governor’s memo follows.    » read more »

Governor sets aside $20 million in ARRA funds to keep firefighters employed

FALL RIVER – October 7, 2009 – Moving to help municipal fire departments impacted by budget cuts that have forced layoffs and vacancies resulting from attrition, Massachusetts Governor Deval Patrick today announced he will release $8.1 million in federal stimulus funds to 13 municipal fire departments in the Commonwealth. The funds will be used to rehire 127 firefighters who were laid off because of budget reductions.    » read more »

Federal Recovery-funded projects help create jobs, improve infrastructure

October 6, 2009 -- DES MOINES – Iowa Governor Chet Culver has announced that nine highway infrastructure projects statewide, worth more than $5.7 million, have been let by the Iowa Department of Transportation (DOT).

These projects are funded in total or part through the American Recovery and Reinvestment Act of 2009 (Recovery Act). Acceptance of the low-bid proposals and awarding of contracts are contingent upon final approval by the respective city or county governments.    » read more »

Oct. 7, 2009 -- Many Colorado state government offices will be closed Friday, Oct. 9, 2009, the second of four closure days in 2009, to help keep the state budget balanced during the economic recession. State offices also will be closed Monday in observance of Columbus Day.

State driver's license offices, the Department of Public Health and Environment's vital records office, state history museums, and administrative offices for executive branch departments will be among the facilities closed Friday, with about 15,500 employees on unpaid furlough.    » read more »

National Telecommunications And Information Administration Awards $1.2 M. To Vermont

WASHINGTON (Tuesday, Oct. 6) – U.S. Sen. Patrick Leahy, U.S. Sen. Bernie Sanders, Congressman Peter Welch and Governor Jim Douglas Tuesday welcomed the announcement by the National Telecommunications and Information Administration (NTIA), an agency of the U.S. Department of Commerce, that Vermont has been awarded Vermont a $1.2 million broadband mapping grant. Vermont’s grant is one of the first four American Recovery and Reinvestment Act broadband grants to reach the states for broadband mapping, aggregation and infrastructure.    » read more »

Grants will be used to lower energy use, reduce carbon pollution and create green jobs

October 4, 2009 -- TRENTON - New Jersey Governor Jon S. Corzine today announced that the U.S. Department of Energy through its Energy Efficiency and Conservation Block Grant (EECBG) program, has released $14.4 million in American Recovery and Reinvestment Act (ARRA) funding to New Jersey. The State will use the funds to implement programs and projects that reduce fossil fuel emissions, expand renewable energy generation, decrease energy use, and improve energy efficiency at the state and local level.    » read more »

October 5, 2009 -- WASHINGTON, DC – Demonstrating a commitment to lead by example, President Obama signed an Executive Order (attached) today that sets sustainability goals for Federal agencies and focuses on making improvements in their environmental, energy and economic performance.

The Executive Order requires Federal agencies to set a 2020 greenhouse gas emissions reduction target within 90 days; increase energy efficiency; reduce fleet petroleum consumption; conserve water; reduce waste; support sustainable communities; and leverage Federal purchasing power to promote environmentally-responsible products and technologies.    » read more »

October 1, 2009 -- Department of Homeland Security (DHS) Secretary Janet Napolitano today announced more than $355 million in funding for more than a dozen airport security projects funded by the American Recovery and Reinvestment Act (ARRA).

“These state-of-the-art technologies will bolster security and increase efficiency for both travelers and employees,” said Secretary Napolitano. “Investing Recovery Act funds in these critical airport projects will create jobs in local communities while strengthening our efforts to guard against terrorism.”    » read more »

Green Building Project Begins with Green Demolition

October 2, 2009 -- BILLINGS, Mont. – The U.S. General Services Administration is commencing work on a new, energy-efficient U.S. courthouse in downtown Billings, Montana, funded by the American Recovery and Reinvestment Act. Demolition work on two buildings on the site of the future courthouse begins today, October 2.

The demolition work is being performed by SBH, Inc., a local service-disabled veteran-owned small business. As part of a high-performance green building construction project, the demolition work will incorporate many green practices, including recycling as much material as possible, protecting nearby trees, and salvaging concrete from the old buildings’ foundations to be reused as structural fill.    » read more »

October 1, 2009 -- WASHINGTON — With the purchase of five compressed natural gas buses and 35 hybrid buses, the U.S. General Services Administration has successfully completed one of the Administration’s key initiatives to green the federal fleet through the American Recovery and Reinvestment Act.

“We’re proud to have completed this program under such an aggressive schedule,” said GSA Acting Administrator Paul F. Prouty. “By investing in more fuel-efficient federal vehicles, we’re contributing to the nation’s economic recovery while realizing significant long-term savings for both the taxpayer and the environment.”    » read more »

10/02/2009 -- WASHINGTON — U.S. Secretary of Labor Hilda L. Solis issued the following statement on the September 2009 Employment Situation report released today:

"This past September, the economy lost 263,000 jobs, and the unemployment rate increased to 9.8 percent.

"At the beginning of this year, the economy was in an unprecedented freefall, shedding 700,000 jobs a month. This administration met these challenges head on by putting a plan in place designed to create jobs and drive economic growth through a combination of tax relief for individuals and businesses, aid to hard-hit families and state and local governments, and funding for science, technology and infrastructure projects across the country.    » read more »