With annual financial reports being released this time of year, the oil and gas industry is looking to continue its decade long trend of being one of the most profitable in the United States. As of February 27, 2012, the top six oil and gas companies have released their 2011 fourth quarter results-and with no surprise, profits continue to boom. The top six oil and gas companies raked in nearly $150 billion in profits last year-an increase of 69% from 2010. Despite another jaw dropping year, Big Oil continues to enjoy billions of dollars in taxpayer-backed subsidies.

picture by Gus Leonisky...

While most Australians rightly believe that Australia is a multicultural nation, in reality multiculturalism is encouraging divisions, discrimination and racism. Australia needs an inclusive multicultural policy to dismantle "white" dominance and unite Australians.

A parliamentary probe team on Thursday said up to 20 American troops were involved in Sunday's killing of 16 civilians in southern Kandahar province.

Federal Opposition Leader Tony Abbott gave a strong endorsement of Israel’s right to defend itself during a speech at the Central Synagogue last Friday night. 

From Crabb

An experiment to repeat a test of the speed of subatomic particles known as neutrinos has found that they do not travel faster than light.

Results announced in September suggested that neutrinos can exceed light speed, but were met with scepticism as that would upend Einstein's theory of relativity.

A test run by a different group at the same laboratory has now clocked them travelling at precisely light speed.

The results have been posted online.

For generations the Encyclopaedia Britannica was a wonder — the world’s knowledge on a single bookshelf. Now the touch of a finger can bring even more information instantaneously. That’s why Britannica will no longer be publishing a print edition. But what will be lost beside 129 pounds of book? Can you find that same sense of wonder online?

http://www.nytimes.com/roomfordebate/2012/03/14/britannica-define-outdated/

The Gillard government has launched a stinging attack on the economic credentials of Peter Costello, deeming the former treasurer is not up to the job of heading up the Future Fund.

Yesterday Labor confirmed David Gonski as the replacement for outgoing chairman David Murray despite reports the overwhelming view of the board of guardians had backed Mr Costello for the job.

Mr Gonski - who recently led the review into the education system - was initially engaged to advise Prime Minister Julia Gillard and Treasurer Wayne Swan to canvass the views of the seven Future Fund guardians - including Mr Costello - about who should be the new chairman.

Climate scientists are concerned that Australia's cool and wet summer [on the east coast] could lead to confusion about whether climate change is real. Picture by Gus Leonisky.

The Pentagon is attempting to quash coverage of its activities by alleging that any reporter seeking classified information is collaborating with the source and guilty of conspiracy to commit espionage, WikiLeaks founder Julian Assange says.

Greg Smith, who ran US equity derivatives trading for Goldman, said the atmosphere at the world's most powerful investment bank was "toxic and destructive" and that the company had to be reined in if it isn't going to destabilise the financial system. In his 12 years at the firm, Mr Smith said, he had witnessed a collapse in moral standards.

from Crikey ….

Barinem Kiobel was executed on November 10, 1995 by the military dictatorship of General Sani Abacha of Nigeria. Almost 16 years later, the U.S. Supreme Court is poised to decide whether Shell, the Anglo-Dutch oil multinational, can be held responsible for his death.