Bloomberg BNA — Russia, Denmark and Canada all are trying to prove that their land masses extend to the North Pole, handing the international commission that gives its expert recommendations on such matters its most highly contested issue to date and highlighting the central role the UN Convention on the Law of the Sea will have in determining the future of the rapidly changing region.
Federal Reserve Bank of St. Louis President James Bullard said policy makers haven’t committed to a specific month to end bond purchases even as it would take a significant shift in the outlook to alter the path of tapering.
Paul Desmarais III, scion of one of Canada’s richest families, is pitching a tent in the snow. Timothy Hodgson, a former Goldman Sachs Group Inc. banker, is juggling balls with soldiers in a team-building exercise, while the head of Barclays Plc in Canada struggles to snowshoe dragging a 25-pound sled.
Flint Hills Resources LLC will begin in May to halt operations permanently at the North Pole refinery, Alaska’s largest by capacity, citing poor economics and “enormous” costs for cleaning up soil and groundwater.
Federal Reserve Bank of St. Louis President James Bullard said Fed officials will probably be careful about altering the pace of their reductions to bond buying because of a potentially significant impact on markets.
Flint Hills Resources LLC is receiving crude at its North Pole refinery in Alaska after the Trans Alaska pipeline system started, and the plant is back in operation, Jake Reint, a company spokesman, said in a telephone interview.