MID-DAY UPDATE: A power surge for ethanol

Today, Environmental Protection Agency is expected to announce an increase in the amount of ethanol allowed in gasoline. Will tell you why that increase is opposed, not only by food makers, livestock feeders and gas sellers, but some environmentalists.

Now that the Obama administration has lifted the moratorium on deepwater drilling in the Gulf of Mexico, the oil industry may be able to hire back some of the thousands of people who have been unable to work in the region for the past months. But with tougher rules now in place, the industry may end up looking quite different.

J.P. Morgan Chase reported boffo earnings this morning. Stocks are up, too (at this writing). Are corporate profits and the real economy two different worlds?

Ever been caught off guard by your cell phone bill? That's the subject of conversation when the chairman of the Federal Communications Commission outlines plans to prevent surprises on your cell phone bill.

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