The Obama administration is proposing regulations aimed at ensuring offshore wells are sealed in an emergency. This comes as the fifth anniversary of the Deepwater Horizon oil spill nears.
Federal safety investigators blamed a faulty blowout preventer for the spill and called for stronger regulations to prevent oil and gas from rushing to the surface and triggering a spill.
A blowout preventer contains equipment called a shear ram that cuts through the drill pipe and allows for sealing the well. But during the Deepwater Horizon spill, the equipment failed to make a clean cut.
The 264-page rule was long expected. It would require wells to have two shear rams to better ensure a seal. The redundancy is already an industry standard.
The rule also requires an independent annual review of maintenance records.
More than two million Americans annually use auto title loans--that includes Alabama. This means car owners borrow against the value of their cars with their auto title as collateral. When President Obama recently visited Birmingham he spoke specifically of the problems this practice causes. Nick Bourke is the director of small-dollar loans project for The Pew Charitable Trusts. He says people get into trouble because of how much they have to pay back…
“A typical loan is a thousand dollars it’s due back in thirty days with a two hundred and fifty dollar fee. The borrow gets a thousand dollars today and a month later has to pay back one thousand two hundred fifty dollars, half of the borrower’s income.”
Bourke’s organization found some people in Alabama go to payday lenders to cover their title loans and end up caught in a loop. If someone fails to pay their auto title loan back, the loan company can seize their vehicle.
The University of Alabama’s new basketball coach is into his first full week on the job.
UA Athletics Director Bill Battle named Avery Johnson their new head coach last Wednesday at the Mal Moore Athletic Facility. He replaces Anthony Grant, who was fired after six seasons on the job.
Johnson says he is eager to get to work as the new coach of Crimson Tide hoops…
“I’ve never been shy of rolling up my sleeves, never been shy at wanting to go to work and I promise you that I will work morning, Noon and night to get the job done.”
Johnson was the 2006 NBA Coach of the Year with the Dallas Mavericks and also coached the Brooklyn Nets. He says he expects to recruit the best players in the state and attract high-profile athletes to be a part of his program.