Garden City Area Weather and Agriculture Update
Mostly cloudy and windy tonight with north-northeast winds 25 to 35 mph. Tomorrow colder with possible snow accumulation up to an inch and winds 30 to 40 mph. Poor sun exposure expected for less than two hours and a 55 percent precipitation chance with humidity near 65 percent. Partly cloudy tomorrow night. Soil temperature data noted.
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Bush presses OPEC to raise output amid oil price rise
President Bush urged OPEC nations to boost oil on the world market warning that high energy costs threaten U.S. economic slowdown. He spoke amid talks with Saudi King Abdullah as Iran warns of potential consequences after recent naval tensions in the Persian Gulf. Prices topped $100 a barrel.
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Transportation panel calls for gas tax rise to fix roads
The National Surface Transportation Policy and Revenue Study Commission urged raising the federal gasoline tax up to 40 cents per gallon over five years to fund infrastructure, reduce fatalities, expand transit, and cut congestion. The plan envisions 200 million dollars annually for new energy research and faces internal opposition from its chair and others.
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Fed auctions 30 billion to banks in credit crisis move
The Federal Reserve auctioned $30 billion to commercial banks at 3.95 percent, the third of a series of new auctions intended to ease the credit crunch. Officials say the tool may become a permanent option, with further auctions planned and potential public comment before formal adoption.
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