| May 2006
The EIS analysis will focus on the potential environmental effects of the development, operations and decommissioning on the proposed action area and alternatives," the notice states. "This NOI (Notice of Intent) also serves to announce the initiation of the written scoping process for this EIS," which will allow "federal, state, tribal, and local governments and other interested parties to aid the MMS in determining the significant issues, potential alternatives, and mitigating measures to be analyzed in the EIS and the possible need for additional information."A key provision of the notice - "The MMS is considering potential alternatives to the proposed action such as : modifying the size of the development, phasing the development, and considering alternative sites." Alternative locations cited in the notice are south of Tuckernuck Island, Nantucket Shoals, Monomoy Shoals and east of Nauset Beach, which is described as a "Deepwater Alternative." Written comments will be accepted by mail or through the MMS website no later than July 14.Mailed comments should be sent in an envelope addressed, "Comments on the Notice of Intent to Prepare an EIS on the Cape Wind project, Minerals Management Service, 381 Elden St., Mail Stop 4042, Herndon, VA 20164.MMS is also holding 10 public hearings -- what the agency is refers to as "scoping meetings" where comments can be submitted in person -- across the country between May 18 and June 8.
Sensex up 696 pts in relief rally
The rate cut in the US late on Tuesday, has provided the necessary relief to the panic struck market, but one cannot expect the immediate rebound to sustain, given the way with which shares fell on Monday and Tuesday.
"The daily charts indicate the market was in a deeply over sold zone, so a relief rally was inevitable. But the sentiment cannot be reversed over night. Recovery is underway," said Suresh Kumar Iyer, technical analyst at Asit C Mehta Investment Intermediates.
"A strong trigger is now needed for the market to sustain at higher levels as traders are still cautious. FIIs have to come in and buy strongly, but until that happens, we will continue to see profit taking at the tops. Short term players are advised to stay away as the immediate trend remains unclear.
In the clink for copper
Federal Reserve made an emergency move this week to cut interest rates, commodities are making a comeback. Copper prices were up almost 18 cents a pound within a week. As of Friday, the price of copper was $3.18 per pound.Market analysts sometimes describe copper as a measure of the economy. Its price tends to dip and rise in correlation with the overall shape of the market. Bloomberg writer Claudia Carpenter said the price of copper slid in each of the past three recessions in the U.S.The metal's impact on the long term status of the market is still unknown, but economists are predicting the price of copper and aluminum to rise over the next four years. The Bloomberg Constant Maturity Commodity Index lists copper as its top commodity, predicting an 11.8 percent rise by 2012. Before the new legislation took effect, criminals could sell their copper wiring to practically any junk or metal scrap yard with no questions asked.
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