General Motors Co. will probably create a fund of as much as $3 billion to pay claims associated with an ignition-switch flaw the automaker said is linked to the deaths of 12 people, a Barclays analyst wrote this week.
West Texas Intermediate crude advanced to the highest level in more than two weeks after supplies at Cushing, Oklahoma, the delivery point for the contract, reached a two-year low. Brent gained in London.
Something odd happens to the neighborhood around Marlins Park, Miami’s new $650 million baseball stadium, when you overlay 21st-century sea-level rise projections. It sinks below the waterline. It’s a shame. The park has a retractable, cloud-white roof to shield players and spectators from the summer sun. It recycles, sips energy and water, and is plugged into public transit. It has 27 flood gates, and was built one foot higher than floods are supposed to reach in once-in-500-year storms. The total, publicly financed package, with debt servicing, could cost Miami $2.4 billion by 2049. If the Atlantic inches in as projected, eventually it might not matter how many flood gates there are. Oceans are swelling as they absorb heat, and ice sheets in Greenland and Antarctica have been melting faster since the early 1990s. Sea-level rise estimates for later this century have been revised upward, to a global average of a foot and a half to three feet by 2100, without aggressive carbon-cutting, according to the Inter
The closing of the Houston Ship Channel after a fuel spill is idling vessels that carried a record amount of U.S. natural gas liquids exports last year, raising questions about the need for geographic diversity in the burgeoning market.