Economy & Business

As the natural gas drilling boom based on "fracking" has spread across the U.S. from Texas to New York, ordinary householders have signed more than a million leases allowing companies to drill on their land. But bankers and real estate executives are now starting to ask what happens if they lend money for a piece of land that ends up storing huge amounts of toxic drilling wastewater.

Ian Urbina reports for the New York Times October 19, 2011.

"DETROIT -- Transit providers across the United States will receive a share of $928.5 million in federal funds for more than 300 public transportation projects in urban, suburban, and rural areas, Transportation Secretary Ray LaHood announced Monday."

"WASHINGTON, DC -- Hundreds of the world's largest investors, representing more than $20 trillion in assets, today encouraged governments and international policy makers to take new legally-enforceable steps to combat climate change at the upcoming UN climate summit in Durban, South Africa."

"Seven American makers of solar panels filed a broad trade case in Washington against the Chinese solar industry on Wednesday, accusing it of using billions of dollars in government subsidies to help gain sales in the American market.

The companies also accused China of dumping solar panels in the United States for less than it costs to manufacture and ship them.

"What a difference a year makes. In late 2010, solar panel makers were sold out, Germany was gobbling up record numbers of the clean energy systems, and new markets were steadily growing."

"Nonprofit conservation groups have preserved tens of thousands of acres of land in California – wild places where both hikers and animals roam. Now, some of them say the economic slump could force them to scale back."

Chinese government subsidies to the energy industry may be among nearly 200 items the U.S. is complaining about before the World Trade Organization.

"In a remote desert spot in northern Nevada, there is a geothermal plant run by a politically connected clean energy start-up that has relied heavily on an Obama administration loan guarantee and is now facing financial turmoil."