Report: Decision On Keystone Pipeline Postponed

Reuters reported late Wednesday night that the Obama administration has decided to delay a decision on whether to approve a controversial oil pipeline that would stretch from Canada to Texas.

An unnamed member of the administration told the news agency that officials are considering re-routing the pipeline, opponents of which argue would pose serious risks to key water supplies located underneath its path.

The official said it could take between a year and 18 months for the administration to reassess the pipeline.

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Reid Starts Spanish Language Twitter Account

Senate Majority Leader Harry Reid (D-Nev.) announced Thursday the creation of his new Spanish language Twitter account.

A press release from Reid’s office said the new account is in response to the growing embrace of social media and technology among the Latino community.

@SenadorReid will “have a special concentration on matters important to Hispanics and the Spanish-speaking community.”

Poll: Obama Ties With Generic Republican

President Barack Obama now runs neck and neck with a generic GOP candidate, according to a new Gallup poll.

The development is good news for the Obama team. In the previous two months, the President has fared well in match-ups against individual members of the GOP field, but trailed a nameless Republican candidate.

The new survey places Obama and the generic candidate at 43 percent and 42 percent, a statistical tie.

The poll was conducted between Nov. 3^rd and 6th among 1,012 respondents.

Europe Again Causes Markets To Dive

By Scarlette Whyte

It was a rough day on Wall Street as the financial woes in Europe pounded the market.

The Dow tanked nearly 400 points, the S&P plummeted 46.82 points and Nasdaq fell by 105.84 points. All 10 S&P sectors firmly ended in the red, led by banks and materials.

Bank of America declined 5.7% and JP Morgan Chase fell 7.1%. Hewlett-Packard and Acola were also weak, losing 5.4% each.

The never-ending saga in Europe has been the primary cause of the troubles in the market today. A surge in Italian bank yields to over 7% and concerns about the 17 nation Euro-zone hit banks hard. Italy is the largest debtor in Europe and they are simply too big to bail out. The Euro lost value against the dollar.

White House Tables Christmas Tree Tax

Fox News reported Wednesday that the Obama administration has suspended plans to impose a 15-cent tax on Christmas trees in order to finance a new federal board tasked with promoting the industry.

In the report, White House spokesman Matt Lehrich was quoted as saying that the U.S. Department of Agriculture has postponed the move.

“I can tell you unequivocally that the Obama administration is not taxing Christmas trees. What’s being talked about here is an industry group deciding to impose fees on itself to fund a promotional campaign, similar to how the dairy producers have created the ‘Got Milk?’ campaign,” Lehrich said. “That said, USDA is going to delay implementation and revisit this action.”

The tax, which was revealed yesterday, would’ve hit producers and importers of Christmas trees in order to fund the new Christmas Tree Promotion Board. The Fox report noted that the tax was supported by some in the industry, and would’ve generated an estimated $4.5 million in revenue for the industry.

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