'Consequences': Iran warns Gulf countries not to replace its oil

By msnbc.com news services

TEHRAN - An Iranian pro-reform newspaper says the country's OPEC governor has warned the country's Arab neighbors that Tehran will view any increase in crude production to counterbalance a potential embargo on Iranian oil as an unfriendly act.

A Sunday report by Shargh daily quotes Mohammad Ali Khatibi as saying that Arab nations will be an "accomplice in the consequences," if they raise output to offset any potential loss of Iranian crude exports due to an embargo.


New U.S. sanctions against Iran approved last month target the country's central bank and, by extension, its ability to sell petroleum abroad. The U.S. has delayed implementing the sanctions for at least six months. The EU is also contemplating an embargo.

Iran is OPEC's second-largest oil producer after Saudi Arabia with output of about 3.5 million barrels per day. It is facing trade hurdles over its nuclear program, which the United States and its allies say is aimed at building bombs.

Iran says it needs nuclear technology to generate electricity.

EU countries have proposed "grace periods" on existing contracts of one to 12 months to allow companies to find alternative suppliers before implementing an embargo.

Iran has threatened to block the vital oil shipping route of the Strait of Hormuz in the Gulf if sanctions imposed on its oil exports.

Reuters and The Associated Press contributed to this report.

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Source: http://worldnews.msnbc.msn.com/_news/2012/01/15/10160133-consequences-iran-warns-gulf-countries-not-to-replace-its-oil

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Tax cut talks focus on budget cuts, new fees (AP)

WASHINGTON ? Republicans would cut federal employee benefits. President Barack Obama would raise fees for airline passengers and eliminate Saturday mail delivery. Democrats in Congress would charge employers higher premiums for federal pension guarantees.

As Congress returns from a three-week holiday break, those are a few of the ideas for how to pay for extending an average $20-a-week Social Security payroll tax cut through the end of 2012 without adding to the government's long-term debt.

Obama and fellow Democrats insisted on taxing the wealthy to offset the deficit impact of the payroll tax cut and of providing jobless benefits to the long-term unemployed. While still useful as campaign fodder, that idea is largely a bygone one.

House and Senate negotiators are drawing on Obama's budget and the work of the defunct congressional supercommittee on deficit reduction to come up with the $160 billion or so needed to continue the tax cut and federal jobless benefits. Both of are set to expire Feb. 29.

Republicans controlling the House took a political drubbing in a December battle that produced a two-month extension of unemployment aid and the 2 percentage point tax cut for 160 million workers.

While House Republicans went after Democratic sacred cows such as federal worker benefits and health care spending, leading senators made progress on a bigger deal before it collapsed because of a lack of time, aides in both parties say.

Health care remains part of the equation. To prevent a 27 percent cut in Medicare payments to doctors under an outdated 1997 formula, negotiators are trying to find $39 billion in cuts elsewhere in health care spending. That would fix the problem for two years.

Some of the money being considered to offset the lost payroll tax revenue is practically free. For example, auctioning portions of the electromagnetic spectrum to wireless companies. That would raise perhaps $16 billion over the coming decade.

Obama wants to raise $4 billion more by selling off surplus federal property. There's an additional $3 billion to be reaped by preventing state and local government workers from improperly claiming Social Security benefits.

One idea seen as likely to make it into the final package is the repeal of a tax break taken by businesses that buy corporate jets. It would raise about $5 billion over a decade.

Other ideas illustrate the uneasy trade-off of big spending cuts or new fees stretched out over a decade to finance only 10 months of a temporary tax cut.

For instance, eliminating Saturday mail delivery and other Postal Service changes raise enough money to pay for only about two months of the payroll tax cut. That may seem like a bad deal for many Americans, especially retired people who don't get the tax cut. The postal reform plan was proposed by Obama and embraced by the supercommittee, but so far has been left out of the payroll tax legislation.

Similarly, an Obama plan to double the Transportation Security Administration's security fee for nonstop air travel from $5 to $10 a round-trip ticket ? a sure bet to anger travelers ? would raise only enough money to pay for about one month of the tax cut. It gained currency in supercommittee deliberations but is not being pressed now, according to aides in both parties.

"This is definitely a situation in which there's a lot of pain for not that much gain and that trying to do a lot of these things absent a big, broader budget deal is going to be difficult to do," said Ed Lorenzen, an analyst with the Committee for a Responsible Federal Budget, a Washington-based group that advocates fiscal discipline. "Nickel and diming savings is not easy."

A new $100 per flight fee on airlines and owners of private jets that would bring in more than $1 billion a year seems to be gaining momentum. So is a proposal to raise billions of dollars by making businesses with underfunded defined benefit pension plans pay higher premiums to the Pension Benefit Guaranty Corporation, which insures such plans. Many businesses and their GOP allies in Washington are resisting the proposals.

Democrats appear set to fight moves by House Republicans to require federal civilian workers to contribute 1.5 percent more of their salaries toward their pensions and absorb a third straight annual pay freeze. Obama wants to give federal workers a one-half of 1 percent pay increase in 2013.

Republicans' proposal to trim the federal workforce through retirements and attrition faces opposition from Democrats who supported it as part of a big deficit-cutting package. Politically wrenching changes to Medicare appear to be off the table.

"When you're talking about a major $1.2 trillion or more deficit reduction plan, there are some things you're willing to consider that you might not in the context of a much smaller agreement," said one Democratic negotiator, Rep. Chris Van Hollen of Maryland.

Despite powerful opposition from the Democratic-leaning Hispanic community, Republicans appear likely to win a provision that would save at least $9 billion by blocking illegal immigrants from claiming the refundable child tax credit. A separate proposal would raise billions of dollars by imposing Social Security taxes on some foreign temporary workers now exempt from them.

Lawmakers already have snapped up $36 billion in projected receipts over the coming decade to finance the two-month jobless benefits and payroll tax extension enacted just before Christmas. The money comes from a 0.10 percentage point increase in home loan guarantee fees charged by mortgage giants Fannie Mae and Freddie Mac that promises to increase the cost of a typical $200,000 mortgage by more than $5,000 over 30 years.

One thing Democrats are loathe to do is revisit the overall cap on day-to-day agency budgets set under last summer's budget and debt limit deal. That makes it more difficult to bank savings from cutting the federal workforce.

House Republicans hope for some victories for conservatives, such as letting states test unemployment benefit applicants for drugs and preventing welfare recipients from using ATMs in casinos, strip clubs or liquor stores to collect their benefits. GOP lawmakers also prefer maximizing spending cuts to raising fees.

Republicans promise to try to make sure the package is funded more with real spending cuts than new fees or easy money such as spectrum auctions. But they don't seem to be spoiling for a fight.

"Given the work that has already been done, there is no reason this bill cannot be completed swiftly and with little acrimony," said Michael Steel, a spokesman for House Speaker John Boehner, R-Ohio. "Frankly, the only way this process will not go smoothly and through regular order is if the White House chooses to disrupt it for political reasons."

Source: http://us.rd.yahoo.com/dailynews/rss/obama/*http%3A//news.yahoo.com/s/ap/20120115/ap_on_go_co/us_congress_payroll_tax

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U.S. slaps sanctions on China state energy trader over Iran (Reuters)

WASHINGTON (Reuters) ? The United States on Thursday imposed sanctions on China's state-run Zhuhai Zhenrong Corp, which it said was Iran's largest supplier of refined petroleum products, as it sought to impress on Beijing and Tehran its resolve to increase economic pressure over Iran's nuclear program.

Secretary of State Hillary Clinton also imposed sanctions on Singapore's Kuo Oil Pte Ltd and FAL Oil Company Ltd, an independent energy trader based in the United Arab Emirates, the State Department said in a notice.

The State Department said the move was part of a broadening international effort to target Iran's energy sector and persuade Tehran to rein in its nuclear ambitions.

"The sanctions announced today are an important step toward that goal, as they target the individual companies that help Iran evade these efforts," the statement said.

The sanction bar all three companies from receiving U.S. export licenses, U.S. Export Import Bank financing or loans over $10 million from U.S. financial institutions, the department said, stressing that the sanctions apply only to the companies and not to their governments or countries.

The U.S. announced the decision after China's rebuff this week of Treasury Secretary Timothy Geithner, who traveled to Beijing to press China on U.S. demands it do more to help curb Iran's oil revenues.

'SHOT ACROSS THE BOW'

Analysts said the U.S. move was largely symbolic, given that Zhenrong was unlikely to have much U.S. business exposure, but that it did send a signal to Beijing and its state-run oil giants such as China National Petroleum Corp (CNPC), China Petroleum and Chemical Corp (Sinopec Corp) and China National Offshore Oil Corp..

These companies have invested billions of dollars in the U.S. energy sector, and are much more exposed to the impact of potential sanctions.

"It's a good shot across the bow and signals the U.S. is serious about vigorous sanctions enforcement. This could be the beginning of a cascade of more sanctions on Chinese companies if China doesn't curtail its Iranian trade," said Mark Dubowitz, executive director of the Foundation for Defense of Democracies, a Washington pressure group that favors stronger sanctions on Iran.

Zhuhai Zhenrong - one of four dominant Chinese state oil traders - brokered the delivery of over $500 million in gasoline to Iran between July 2010 and January 2011 in contravention of U.S. sanctions law, the State Department said.

While the U.S. move targeted Zhenrong for its gasoline sales, the Chinese company has a broader role in Beijing's energy dealings with Iran and has been a major buyer of Iranian oil since at least 1995, typically selling the oil to Sinopec and PetroChina, the country's two dominant refiners.

Zhenrong has been buying about 240,000 barrels per day for several years, representing about 5 percent of China's imports, although sources said last week it would cut crude imports from Iran for a second month in February along with other Chinese oil traders amid a dispute over payments.

In mid-2010, Zhenrong joined Chinese state energy giants in filling a void left by Western oil companies and trading houses that had halted sales of gasoline to Iran because of toughening U.S. sanctions.

Derek Scissors, an expert in the Chinese economy at the Heritage Foundation think tank, said the action against Zhenrong would send a message to other Chinese state oil majors.

"We don't want to be taking action against Sinopec, CNPC and CNOOC. They are huge, and politically powerful," he said.

"But Zhenrong is close enough to them, and won't really do that much harm beyond sending the signal."

TARGETING COMPANIES

The U.S. announcement followed Western moves to tighten the economic noose on Tehran through unilateral sanctions.

President Barack Obama has signed a U.S. law imposing sanctions on financial institutions that deal with Iran's central bank, its main clearinghouse for oil exports, while the European Union is expected soon to agree to a new ban on Iranian oil imports.

Washington has sought to impress on friends and foes that it means business, sending U.S. officials around the world to warn of the dangers of dealing with Iran.

A senior Obama administration official stressed that the purpose of sanctions was to draw Iran back to the negotiating table to discuss curbing its nuclear ambitions, the other half of the 'two-track' U.S. policy of pressure and engagement.

"The theory of the case here is that these two tracks will ultimately converge and Iran will make a decision that it is important to come to the table to try to remove some of these sanctions, to improve their economy," the official told reporters on condition of anonymity.

The other two companies listed by the State Department, both well-known names in the Asian oil trading world, are smaller, private trading firms that typically specialize in shipping bunker fuel or heavy residual products but, like Zhenrong, had also begun doing deals to sell gasoline to Iran.

The State Department said Kuo Oil had provided over $25 million in refined petroleum to Iran between late 2010 and early 2011, while FAL provided over $70 million in refined petroleum to Iran over multiple shipments in late 2010.

In all cases, individual deliveries were worth significantly more than the $1 million threshold under U.S. law and the total value of the transactions was well above the $5 million threshold for sanctionable activities within a 12-month period, the State Department said.

(Reporting By Andrew Quinn and Timothy Gardner; Editing by Peter Cooney and Sandra Maler)

Source: http://us.rd.yahoo.com/dailynews/rss/science/*http%3A//news.yahoo.com/s/nm/20120112/wl_nm/us_iran_usa_sanctions

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CatholicNewsSvc: CNS Rome bureau: In speech to diplomats, pope condemns 'religiously motivated terrorism': http://t.co/seZWqqwx #CNSstory

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South Carolina TV already awash in GOP attack ads (AP)

COLUMBIA, S.C. ? Mitt Romney is "a Massachusetts moderate" who "can't be trusted" on abortion and other core Republican values. Newt Gingrich has questionable judgment for "teaming up with Nancy Pelosi," the Democratic lawmaker the GOP loves to malign. Rick Santorum is a "serial hypocrite" with "a record of betrayal."

That is, if you believe the crush of TV commercials on steady rotation in South Carolina.

It's where Republican presidential candidates and their deep-pocketed allies are spending millions on attack ads ahead of the state's pivotal primary on Jan. 21. And in a state known for brutal campaign tactics, the savaging has only just begun. That's because Romney's wins in the first two contests ? Iowa and New Hampshire ? have set up a now-or-never situation in South Carolina for opponents desperate to deny him the nomination.

"People are going to stoop to new, interesting ad tactics that we haven't seen in the past," says DeWitt Zemp, a GOP strategist who was an aide to both Bush presidents and is unaligned in this race. "They're going to go even more negative than they have in the past as a result of where we are in the election process. It's all hands on deck against Romney."

Even before the race turned south, roughly $3 million had been spent in South Carolina, with more than half of it coming from a pro-Rick Perry super PAC called Make Us Great Again. Then, a similar group supporting Gingrich, named Winning Our Future, said it planned to spend $3.4 million to run an ad attacking Romney for jobs lost during his time as an executive at equity firm Bain Capital. But so far, only roughly $1.5 million has been bought.

Not to be outdone, a pro-Romney group called Restore Our Future has reserved $2.3 million in time. It's the group behind the ad linking Gingrich to Pelosi and ribbing him for other "mistakes" or flips on immigration, health care and Iraq policy. The group spent nearly $3 million on ads attacking Gingrich in Iowa before the leadoff caucuses, contributing to his precipitous fall from the top of polls there.

As he looks to revive his struggling campaign, Gingrich ditched his pledge to stay positive and unleashed a TV commercial assailing Romney on his long-ago evolution from a supporter of abortion rights to a firm stance against them. The 30-second spot says the former Massachusetts governor can't be trusted to stand by sacred anti-abortion positions.

The former House speaker is getting even more personal with his snipes in online videos, which sometimes end up making their way to TV.

One video that Gingrich's campaign released Wednesday targeted Romney's verbal gaffes, including his misconstrued statement that he liked "being able to fire people" and his argument that "corporations are people, too." The ad also revived a decades-old story about Romney strapping a dog carrier ? with family dog Seamus inside ? to the roof of his car for a lengthy road trip.

Romney himself has two TV ads up: One in which he characterizes the need to bring federal spending under control as a "moral responsibility" and another in which he rips the Obama administration's National Labor Relations Board for blocking Boeing's effort to build a jet production plant in Charleston.

Texas Rep. Ron Paul, a top three finisher in Iowa and New Hampshire, is doing his own dirty work.

He's going hard at Gingrich and Santorum in a double-barreled attack. His minute-long ad calls out both for cashing in once leaving office. It highlights Santorum's votes to raise the debt limit, support for earmark spending and siding with "big money union bosses" on right-to-work legislation.

"Don't be fooled. Rick Santorum, a record of betrayal. Another serial hypocrite who can't be trusted," the Paul ad ends to music with a horror-movie feel.

Some South Carolina voters cringe over what they've already seen and heard ? and what they know is still to come over their TV sets and radios, and in their mailboxes.

"I wish we didn't have any negative ads," said Colleen Morrow, a retired state social worker from Columbia. "Talking about somebody's record is one thing, but attacking them on a personal level, I don't think that's right."

Not everything has had a dark edge.

Lagging in the polls, Perry has two commercials touting his Christian faith, small-town values and military background.

Santorum, the Iowa runner-up, is airing one that says he's "a trusted conservative that gives us the best chance of taking back the White House." A political action committee promoting the former Pennsylvania senator is striking the same theme.

And Paul, the candidate with arguably the hardest-hitting ads, is offsetting those with a softer spot featuring testimonials from veterans describing the former Air Force officer as "a veteran's best friend."

The ad wars aren't limited to South Carolina.

Candidates and their backers are already turning to Florida, which votes Jan. 31. The pro-Romney group has bought $3.6 million in airtime for commercials there.

___

Associated Press writer Thomas Beaumont and Julie Pace in South Carolina contributed to this report.

Source: http://us.rd.yahoo.com/dailynews/rss/politics/*http%3A//news.yahoo.com/s/ap/20120112/ap_on_el_pr/us_south_carolina_ad_crush

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Panasonic pumps out a trio of Micro System speakers: Airplay, Bluetooth and dockable flavors

Haven't had a big enough fix of wireless audio and iPod-dockable speak rigs at this year's CES? You're in luck -- Panasonic's just announced a trio Micro Systems, ensuring there's one for every taste. First up, is the style-oriented SC-AP01 soundbar. The metal-clad system's equipped with AirPlay, making it perfect users of iDevices and iTunes who prefer to wirelessly stream their music. The system packs an Aero Stream port for enhanced bass reproduction and Direct-Vocal Surround for more "music-hall-like" listening experience. You'll also find a USB port so that you can charge your iDevices, and it comes with a remote that your couch will itching to swallow up. If you prefer the vintage route of "plugging in" and have a thing for the look of guitar-purposed speaker cabinets, the SC-GT07 might be for you. It features the same bass enhancements of the AP01, as well as bamboo speakers and a rotatable dock to support portrait and landscape views.

Lastly, the ultra-tiny, "cookie-sized" SC-MC07 Bluetooth speaker should please folks who are constantly out and about -- the mini-rig can accepts AAA batteries for when you can't find a wall outlet. There's no word on price just yet, but come April, eager ears will be able to scoop 'em up off of store shelves. Check the press release after the break for all the details, and we'll be sure to update this post with press shots as soon as they're available.

Continue reading Panasonic pumps out a trio of Micro System speakers: Airplay, Bluetooth and dockable flavors

Panasonic pumps out a trio of Micro System speakers: Airplay, Bluetooth and dockable flavors originally appeared on Engadget on Mon, 09 Jan 2012 20:00:00 EDT. Please see our terms for use of feeds.

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Dish Network adds video on-demand streaming for iPad, enhanced Thuuz Google TV app

While Dish isn't yet ready to officially reveal the details of its new "Hopper" multiroom DVR setup or any wireless broadband plans, it has announced the addition of video on-demand streaming to its Remote Access iPad app. For users with the Blockbuster @Home package or premium movie channels like HBO, they can log in with their Dish Online ID and be in business. The remote viewing portion has also been refreshed, with what we're told is an updated guide. For Google TV owners, it also announced an official tie-in with the developers of Thuuz to record the live sports programs it alerts users to. Check out the details in the press release after the break, as well as a few hands-on pics of the iPad app in our gallery.

Continue reading Dish Network adds video on-demand streaming for iPad, enhanced Thuuz Google TV app

Dish Network adds video on-demand streaming for iPad, enhanced Thuuz Google TV app originally appeared on Engadget on Sun, 08 Jan 2012 19:41:00 EDT. Please see our terms for use of feeds.

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Lucas Glover withdraws from golf tournament

Like a boss

Texans owner Robert McNair makes an appearance on nose tackle Shaun Cody's show "On the Nose" where Cody tries to make a connection with the man in charge, who has some tongue-in-cheek responses for his employee.

Source: http://www.fanhouse.com/news/main/lucas-glover-withdraws-from-golf/2079977

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fcn: @EverydayFinance go type "Ron Paul is" into the google search box and look at the suggestions...

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Odd temperatures affecting local sports

Warmer-than-usual January temperatures in Kamloops are good for some and bad for others in the sporting community.

Listed below are a few examples.

The good

Mt. Paul

Golf-lovers who want to swing the sticks have been able to enjoy Mt. Paul Golf Course as of late, with a lack of precipitation and unseasonably warm temperatures enabling general manager Dan Latin to keep the course open.

How long will Mt. Paul be open?

"That's the millon-dollar question, isn't it?" quipped Latin, noting Mother Nature will have the final say.

TCC track and artificial turf field users

KTW received a press release from the city on Wednesday, Jan. 4, which said the Tournament Capital Centre's outdoor track and artificial field have been re-opened to the public.

"Jeff Putnam (the City of Kamloops' parks, recreation facilities and business operations manager) came to me said, 'What do you think?'" city recreation assistant Debbie Dalke told KTW.

"I said, 'As long as we have a safe situation out there, let's go for it.'"

On weekdays, the Hillside Stadium facilities will open at 5:30 a.m. and close at 11 p.m; 6:30 a.m. to 9:30 p.m. on weekends.

To make group bookings, call Dalke at 250-828-3569.

All of the city's soccer and baseball fields remain closed to the public.

The bad

Stake Lake

There are at least two events at Stake Lake that have been affected by recent weather conditions.

A cross-country skiing event ? The first race on the B.C. Cup series ? has been cancelled due to poor trail conditions.

"The few skiers we've had said the conditions are quite treacherous and I think we're going to have shut down the races we had scheduled for this weekend," Stake Lake trails host Calder Graham said on Thursday, Jan. 5.

The races were officially cancelled on Friday, Jan. 6.

"The trails out here are hard-packed ice," Graham said.

Meanwhile, the B.C. Ice Racing Series, in which motorbike riders race on the frozen lake, have a test-and-tune event scheduled for Sunday, Jan. 8.

"Obviously, it's pretty warm right now and we'll be making a decision probably [today, Jan. 6]," said Ken McClelland, president of the Greater Kamloops Motorcycle Association.

"We monitor the ice conditions and ice thickness."

If the event is cancelled, it will not be a great blow to the series, as the real racing is not scheduled to begin until Jan. 15.

McClelland said there is also a rain-out day scheduled for February. Any races that are cancelled can take place then.

Logan Lake

This weekend's River City Racers Polarthon and speed-skating events have been cancelled.

The Varion Pond Hockey Classic, scheduled for next weekend (Jan.13 to Jan. 15), is still a go.

?

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Source: http://www.kamloopsthisweek.com/sports/136839583.html

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