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Summer Gasoline Prices: Steady

first_imgHome Energy Summer Gasoline Prices: Steady SHARE SHARE Summer Gasoline Prices: Steady Facebook Twitter Facebook Twitter By Gary Truitt – May 19, 2014 Wally TynerDeclining demand for gasoline coupled with increased oil refining capacity in the U.S. should help to keep the price of gas this summer below $4 per gallon in the Midwest barring any disruption of supply, Purdue University energy economist Wally Tyner says. Tyner expects pump prices to run about 6 cents higher than last summer and typically range between $3.45 and $3.90 per gallon, except in the Chicago area, where gas prices are higher because of clean-air rules.But he cautions: “As you might expect, it depends. There are no certainties.”Prices could go higher over short periods if supplies are disrupted anywhere in the system, said Tyner, the James and Lois Ackerman Professor in the Department of Agricultural Economics. Tyner noted that prices of gasoline that motorists pay at the pump primarily are determined by crude oil prices, which have been running about $4 per barrel higher than a year ago. That normally means higher gasoline prices.Crude oil prices are determined by global supply-and-demand forces, but their price and availability also can be influenced by events such as the political instability that has gripped Ukraine. While U.S crude oil production has increased significantly, crude oil imports still account for 40 percent of the nation’s supply, Tyner said. Domestic gasoline consumption, however, has been declining, from 141 billion gallons in 2007 to 133 billion last year.”Part of the decline is due to the recession, but a big part also is due to increasing fuel economy in our cars,” Tyner said. “Even though we are driving about the same number of miles, it takes less gas to go that distance.”With decreased consumption of gasoline and more refining capacity, the U.S. is now exporting both gasoline and diesel, Tyner said. “So today, the price of gasoline in foreign markets also influences what our price will be at the pump here,” he said.Even though there is more refining capacity in the U.S., there are fewer inventories of gasoline, diesel and propane than in the past, Tyner said. All of those fuels are below their historic normal levels partly because companies are keeping lower stocks. “That means any supply disruption such as a refinery outage or pipeline problem can send prices shooting up,” he said. “And when this happens, it is common for the prices to come down slower than they went up.”Gasoline prices also vary by region of the country. Prices last week, for example, ranged from $3.44 per gallon on the Gulf Coast to $4.02 on the West Coast. They were $3.60 in the Midwest.            Previous articleIndiana Corn Planted up 11 Percent Despite Limited Field TimeNext articleRain and Cool Temperatures Try Producers Patience Gary Truittlast_img read more

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New Report Critical of Fannie Mae and Freddie Mac Fee Collection

first_imgSubscribe Colin Robins is the online editor for DSNews.com. He holds a Bachelor of Arts from Texas A&M University and a Master of Arts from the University of Texas, Dallas. Additionally, he contributes to the MReport, DS News’ sister site. New Report Critical of Fannie Mae and Freddie Mac Fee Collection The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago A report released Wednesday by the Federal Housing Finance Agency (FHFA) Office of the Inspector General (OIG) was critical of Fannie Mae and Freddie Mac’s collection of late fees. The report criticized the two for poor management of late fee collection, noting fees were either not consistently collected or collected at all.Findings were outlined in FHFA Oversight of Enterprise Handling of Aged Repurchase Demands.The report notes that the FHFA ordered Fannie Mae and Freddie Mac to “develop consistent timelines and collection standards for fees and penalties and additional types of penalties and remedies.”The FHFA let each enterprise establish its own model for penalizing servicers and collecting late fees.As a result, Freddie Mac continued to employ its existing model for collecting late fees.”By inconsistently waiving, enforcing, and excepting late fees through 2012, the Enterprise missed assessing up to $284 million in late fees that are now unlikely to be collected–losses that taxpayers ultimately bore,” the report commented.Worse yet, Fannie Mae collected no late fees, citing a concern over the projected $5.4 million implementation cost to manage late fee collection. However, the OIG charges Fannie Mae did not consider the benefits—potentially $284 million from 2009 to 2012.The report also noted that Fannie Mae had a higher volume of unresolved repurchase demands than Freddie Mac, and could have potentially collected more than the estimated figure.Ultimately, the FHFAOIG recommended 3 suggestions going forward.First, quantify the benefit of implementing a repurchase late fee program at Fannie Mae to compare the cost versus benefits of the program.Second, direct Freddie Mac to develop a late fee report to be routinely sent to FHFA that expands on information related to late fees.Finally, direct Freddie Mac to provide FHFA with information on assessed but uncollected late fees associated with 2013 bulk settlements. The Inspector General wants the fees to be considered in the negotiations and documented in accordance with the Office of Conservatorship Operations (OCO)’s Settlement Policy.FHFA agreed with OIG’s recommendations. Share Save Home / Daily Dose / New Report Critical of Fannie Mae and Freddie Mac Fee Collection Tagged with: Fannie Mae FHFA Freddie Mac About Author: Colin Robins The Best Markets For Residential Property Investors 2 days ago Previous: Caliber Home Loans Welcomes New Regional VP Next: Housing Affordability Drops in California Sign up for DS News Daily center_img Related Articles in Daily Dose, Featured, Government, Headlines, News Fannie Mae FHFA Freddie Mac 2014-02-14 Colin Robins Governmental Measures Target Expanded Access to Affordable Housing 2 days ago February 14, 2014 663 Views The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days agolast_img read more

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Watch Mavis Staples Replace Confederate Monuments In Her Beautiful New Music Video

first_imgMavis Staples gives us a glimpse of the way things could be in a gorgeous new video for the title track from her Jeff Tweedy-produced 2017 album, If All I Was Was Black. Filmed in New Orleans, the video finds the legendary singer watching from a restaurant as a statue of an African-American woman is unveiled where a monument to Confederate leader Jefferson Davis once stood.Mavis Staples – “If All I Was Was Black”Staples’ latest offering comes nearly 10 months after the City of New Orleans removed statues of Davis, Confederate general Robert E. Lee, and Confederate general P.G.T. Beauregard (along with a plaque celebrating a post-Civil War white supremacist uprising) following a vote by the City Council. The Zac Manuel-directed piece includes shots of what used to be the bases of those three statues as well as an empty platform that hosted Durham, NC’s memorial for Confederate soldiers until protestors toppled it this past August.If All I Was Was Black may be the most recent politically-charged release from Staples, but it’s far from her first. As a member of her family band The Staples Singers, Mavis achieved international fame with a series of socially-conscious tunes that delivered a hopeful message in the midst of the Civil Rights Movement. The group regularly sang at civil rights marches during the 1960s and even performed for Martin Luther King Jr., who was particularly fond of their song “Why (Am I Treated So Bad)”. “That’s the only way I know to get to the people, is through a song,” Staples told Rolling Stone last year. “I’ve lived the life I’ve sang about and I just want to make it better. Music is powerful. Music is power. It can bring us all together as a people, and that’s what I hope to do.”last_img read more

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TRAFFIC ALERT: Disabled bus slows traffic on 201 Bridge

first_imgOther buses have been sent to help pick up the passengers on he disabled bus. JOHNSON CITY (WBNG) — Dispatchers would like to alert motorists to traffic delays out of Johnson City Wednesday afternoon. For the most up to date information, go to 511NY’s website by clicking here. Johnson City Police are on the scene. Dispatchers have told 12 News that a Serafini bus became disabled on the 201 bridge.last_img

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Barbara Dawn (Hill) Johnson, Topeka: Aug. 28, 1939 – Feb. 18, 2014

first_imgBarbara JohnsonBarbara Dawn (Hill) Johnson of Topeka went to be with our Lord on February 18, 2014.Memorial Services will be held at 2 p.m. on Saturday, February 22, 2014 at Shelley Family Funeral Home of Wellington. In lieu of flowers the family has established a memorial with the Washburn University Memorial Fund. Contributions may be made through the funeral home.She was born August 28, 1939 to the late Marion Mittchell and Lucille Mae (Davidson) Hill in Wellington, KS. She was a graduate of Wellington High School, Class of 1957.Barbara worked at Kats and Josten’s in Topeka Kansas, Home Oil Co. and Johnson Auction Service in Osage City, KS. She began working at Washburn University in 1994 and retired in 2005. She enjoyed continuing to work a few days each semester during enrollment in the Washburn Business Office. In her younger years she enjoyed riding motorcycles and held an AHRA Drag racing record. She was an avid deer hunter and fisherman. She loved spending time with her grandchildren and great grandchildren. She was an active member of the Fraternal Order of Eagles and the American Legion Auxiliary, Topeka Chapters.She is survived by her children; Mittchell Elmore of Topeka, KS, Debra Cox of Wichita, KS, Linda Griffin of Osage City, KS, her grandchildren; April Liang of Topeka, KS and Megan Sornson of Olathe, KS and her great- grandchildren; Kingston Sumpter, Kellen Sornson, Mollie Sornson and Karter Liang. Barbara was preceded in death by a sister, Betty Jane Hill and grandson Kelly Cox.Âlast_img read more