5.2. ERMUSR 04-17-2008 - Laserfiche WebLink

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Headed to Europe later this year, undeterred by the soaring euro? A_t least your flight options should be improved. On March 30, the Open Skies pact between the U.S. and the European Union takes effect, letting airlines fly from any U.S. city to any in the EU, and vice versa. Lots of convenient new routes and additional fli hts are coming, especially to London's Heathrow: From Atlanta, Raleigh, N.C., NYC, Detroit, Minneapolis-St. Paul, Dallas, Houston, Denver, L.A. and Seattle. Increased competition will bring lower fares, but not soon. Strong demand combined with high oil prices spell high rates through 2008. The flagging economy means more Americans vacationing on the cheap than in the past. Most will still take time off, leaving home for a while. But more will seek bargain condo rentals and cook some of their own meals, rather than enjoying hotel stays and dining in restaurants every day. A surge in foreign visitors will help ease some of the pain. Skyrocketing oil prices aren't the only energy worry. Too little storage capacity for natural gas is a growing concern as well. The industry's ability to bank natural gas in spring and summer to meet heavier winter needs is limited to about 3.6 trillion cubic feet, the amount in storage last Oct. But use keeps climbing. By April, supplies will be at least 20% below normal, despite average winter temperatures. Developing new storage...tanks or natural caverns is tough, with both a high price tag and a series of regulatory hurdles to navigate. One Fla. company is testing the waters, though. It plans a storage tank with a capacity of 8 billion cubic feet. If OK'd, others will follow. Could the U.S. end up relying on Russia for its nuclear power? It may be. Russian uranium ore, refined in the U.S. to make fuel, will account for 20% of U.S. needs by 2020. But Russia also provides half of the U.S. nuclear power industry's supply of enriched uranium fuel. Capped by law at 50% now, Russia's share will grow gradually through 2020, when the restriction ends. The U.S. lacks the ore to be self-sufficient. The silly season has arrived early in Congress this year. ' Exhibit No. 1: The budget debate. It's a whole lot of talk and a great deal of staff work for nothing that will really matter. Congressional leaders know it, but you won't get any of them to admit it. It's all posturing for the campaigns, with votes arranged to get candidates on record regarding tax cuts, oil drilling in Alaska, barring pork, etc. The goal is mostly to embarrass one side or the other, creating fodder for ads that take votes out of context for partisan gain. In the end, there'll be no spending pacts, except for defense. Look instead for temporary funding, with tough decisions delayed until 2009, when a new president and a new Congress will be in charge. Yours very tr y, /~. March 14, 2008 THE K INGER ASH GTON ITORS P.S. Get poorly performing employees to work at peak capacity. Learn how in a 90-minute interactive audio conference on April 22. Register by visiting www.krm.com/kiplinger or by calling 800-775-7654. Copyright 2008. The Kiplinger Washington Editors, Inc. quotation for political or commercial use is not permitted. Duplicating an entire issue for sharing with others, by any means, is illegal. Photocopying of individual items for internal use is permitted for registrants with the Copyright Clearance Center, 222 Rosewood Drive, Danvers, MA 01923. For details, call 978-750-8400 or visit www.copyright.com.