CONSOL launches carbon dioxide research
MORGANTOWN -- The National Energy Technology Laboratory in Morgantown is backing a project to help Virginia Tech researchers and CONSOL Energy study the prospect of storing carbon dioxide in thinner, less valuable coal seams.
Pennsylvania-based CONSOL will try to sequester as much as 20,000 tons of the greenhouse gas that contributes to global warming.
Vice president of research Steve Winberg says CONSOL is donating three coalbed methane wells near Buchanan, Va., for the pilot project. The State Journal says the year-long experiment is set to begin this fall.
Michael Karmis of Virginia Tech's Center for Coal and Energy Research says teams will test both the ability to inject CO2 and whether it can help recover coalbed methane.
They expect the CO2 to be absorbed and say it might stimulate methane release.
Ohio casino revenue may fall short of projection
CLEVELAND -- Gov. John Kasich's budget proposal suggests that revenue from Ohio's four voter-approved casinos could be about half of what officials had predicted years ago.
The (Cleveland) Plain Dealer reports that state officials estimated four years ago that the casinos could take in as much as $1.9 billion a year after all were in operation.
But Kasich's budget proposal issued Tuesday projects that gross casino revenue will be $957.7 million for the fiscal year beginning July 1. It could rise to just over $1 billion in the following fiscal year.
The figure is significant because smaller revenues mean fewer tax dollars for the state.
Officials say the lower estimate takes into account competition from racinos and lower-than-expected revenues at the three casinos already operating.
Yum blindsided by KFC chicken scare in China
NEW YORK -- When KFC was hit by a controversy over its chicken suppliers in China late last year, parent company Yum Brands offered free drinks and ice cream to bring diners back.
The company, based in Louisville, Ky., apparently didn't realize the severity of its problems; the promotion did little to assuage fears about its chicken and on Tuesday the company said it expects its earnings per share to decline 25 percent in the first quarter. Yum had already warned on Monday that a key sales figure for the region would plummet by the same percentage during the period. Profit for the full year is now expected to decline as well, snapping an 11-year streak of growth of at least 13 percent.
The company, which also owns Pizza Hut and Taco Bell, has many more locations in the U.S. and around the world than in China. But the company is the biggest Western fast-food chain in China, with KFC accounting for most of its 5,300 restaurants. The nation's economic growth had until now been a boon for the company and China accounts for about 40 percent of its profit.