Today's cuppa: large fast-food coffee, one cream, one sugar
As Washington, Wall Street and all corners of the globe interested in both hash over the proposed bailout for investment firms choking on bad mortgage paper, we are still facing serious issues regarding energy costs and how we will fuel the future.
President Bush is making a primetime address tonight at 9 p.m. ET on the current financial crisis, and all the major broadcast networks and news cablers are expected to cover it live. This has caused a schedule change for CNBC, which announced a couple of days ago that it was airing a special tonight called "The Hunt for Black Gold." Originally scheduled to air at 9 p.m. ET, it's now been switched to 9:30 p.m. ET, after the conclusion of the presidential address, and again at 1 a.m. (ET)
In the special, correspondent Maria Bartiromo travels around the world to investigate the search for oil and natural gas, including the Gulf of Mexico -- a frequent target of hurricanes -- and the North Slope of Alaska, home to the controversial Arctic National Wildlife Refuge, also known as ANWR (pronounced "anwar").
The two presidential candidates -- Democrat Sen. Barack Obama of Illinois, and Republican Sen. John McCain of Arizona -- have opposed drilling in ANWR (though they have had different approaches on drilling elsewhere in the U.S., including offshore, and on energy strategies).
One person in favor of oil and natural gas exploration in a portion of ANWR is Alaska Gov. Sarah Palin, named on Aug. 29 as the running mate to Sen. McCain.
But on Aug. 25, when Palin spoke to Bartiromo, she was still just the Governor of Alaska -- although her name was mentioned as a possible vice-presidential contender, something a CNBC spokesperson says the network knew at the time.
Bartiromo also talks with ConocoPhillips CEO James Mulva, whose company drills for oil in Alaska, along with political leaders, experts and others.
Since being named as the GOP vice-presidential nominee, Palin has not changed her views on exploring for energy sources in ANWR and has stated that she is "still working on" changing McCain's mind on the topic.
However the election turns out -- and however this financial crisis turns out -- our need for energy continues, as does the debate surrounding it.
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