Under study: A research team led by LSU Department of Oceanography & Coastal Sciences Assistant Professor Michael Polito has been awarded a NOAA RESTORE Science Program grant to study how coastal land loss restoration practices impact marsh food webs. The competitive federal grant is funded by penalties paid by parties responsible for the Deepwater Horizon oil spill. The NOAA has disbursed $16.7 million in oil spill penalties to fund research projects by 15 teams of researchers. The awards range from $231,671 to $2.3 million. LSU is collaborating with researchers from Rutgers University, the University of Florida, the University of Tennessee-Knoxville, Michigan Technological University and the Louisiana Universities Marine Consortium. Read more.
Floating away: One of the biggest icebergs on record has broken away from Antarctica,creating an extra hazard for ships around the continent as it breaks up. Reuters reports the 1 trillion-ton iceberg measuring 5,800 square kilometers split from the Larsen C Ice Shelf in Antarctica sometime earlier this week, scientists at the University of Swansea and the British Antarctic Survey say. The iceberg—roughly the size of Delaware or the Indonesian island of Bali—has been close to breaking off for a few months. The ice will add to risks for ships: The peninsula is outside major trade routes but the main destination for cruise ships visiting from South America. Read more.
Going up: Federal Reserve Chair Janet Yellen told Congress today that the central bank expects to continue gradually raising a key interest rate and also plans to start trimming its massive bond holdings this year. As The Associated Press reports, Yellen—in her semiannual testimony on the economy—notes of a number of encouraging factors, including strong job gains and rising household wealth she says should fuel economic growth over the next two years. But she blamed a recent slowdown in inflation on temporary factors and the Feds are watching developments closely to see if annual price gains move back toward the 2% target. Many economists believe the Fed, which has raised rates three times since December, will hike rates one more time this year. Read more.
