Feds Let BP Keep Cap Closed for Another Day.

(NEW ORLEANS) — The federal government Monday allowed BP to keep the cap shut tight on its busted Gulf of Mexico oil well for another day despite a seep in the sea floor after the company promised to watch closely for signs of new leaks underground, settling for the moment a rift between BP and the government. The Obama administration's point man for the spill, retired Coast Guard Adm. Thad Allen, said early Monday that government scientists had gotten the answers they wanted about how BP is monitoring the seabed around the mile-deep well, which has stopped gushing oil into the water since the experimental cap was closed Thursday.Link

How Legal Pot Could Harm the Cartels.

So far, no modern country has ever legalized marijuana production—not even the Netherlands. Yet with heavy drug-related violence plaguing the U.S.-Mexican border, some analysts and policymakers now say that America should legalize weed in order to reduce the power of Mexico’s drug cartels. Marijuana carries the least amount of overhead cost for many of the cartels and provides some of their cash flow for buying guns and influence. Estimates vary, but analysts say pot accounts for somewhere in the range of 20 to 50 percent of the cartels’ profits. But that could soon change with competition from El Norte: California has a proposition set for the November ballot—on which voters are roughly split—that would legalize the drug’s domestic production and sale. If the measure passes, says a recent analysis by the RAND Corporation, California could become a major supplier of the drug to the rest of the U.S. That, according to George W. Grayson, a professor of government at William & Mary, “would hurt the cartels badly.” RAND estimates that it could reduce the drug’s pretax price by more than 80 percent.Link

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