Business News Archive - July 06, 2008

By Carol Coultas MECHANIC FALLS - It was an idea that had been noodling around in Hal Bumby's mind for more than 25 years. But it wasn't until oil hit the $4-a-gallon mark with no relief in sight that Bumby finally decided to convert his wood products company to geothermal heat.

By Debra McCown, Bristol Herald Courier, Va. Jul. 6--ST. PAUL, Va. -- Though Dominion Virginia Power officially began construction of a power plant here Monday, those opposed to the project say the $1.8 billion facility remains up in the air.

Recently, my faith in my representative to the U.S. Senate has diminished. While educating myself on the Senate race, I stumbled upon Sen. Susan Collins' 10 points on the energy crisis. No.

By David Falchek, The Times-Tribune, Scranton, Pa. Jul. 6--Gas exploration companies are spending millions and expecting to make many millions more from natural gas trapped in the Marcellus Shale rock formation in Northeastern Pennsylvania.

By David Robinson, The Buffalo News, N.Y. Jul. 6--The energy boom gave a nice boost to the Buffalo Niagara region's stocks during the second quarter.

Finally, you can do something for the environment and look good doing it.

According to Addustour newspaper (July 5, 2008), a recently released report by the Strategic Consulting Company shows that the Kingdom of Saudi Arabia had dominated 24.8% of Jordan's total imports in the first third of 2008 compared with 20.2% in the corresponding period of last year.

WASHINGTON - As gas prices hit a new high yesterday, Americans were seen cutting back on travel over the holiday weekend.

By Mark Zaretsky, New Haven Register, Conn. Jul.

Chinese Premier Wen Jiabao says his country will increase economic development despite some challenges. Wen said China's economy was developing as expected, and called on government officials at all levels to improve economic controls to avoid serious fluctuations, Xinhua reported Sunday.