Cuomo: 'No Reason to Panic' over Gas Shortages

(AP) NEW YORK
New York Gov. Andrew Cuomo says he's signed an executive order waiving a requirement that fuel tankers register and pay tax before unloading.

He also is threatening utility companies' rights to operate in the state in the future if they don't immediately put power restoration work into high gear.

The governor says there's "no reason to panic" about gas shortages. He said Friday that tankers are now making "great progress" delivering fuel and that his order will help get gasoline to consumers faster. He also says terminals that suffered damage in Superstorm Sandy are coming back online.

But he also is warning utilities that they must devote full personnel and equipment to power restoration. Cuomo says utilities operate only with the state's permission and he will hold them accountable.

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“Every Asian market outside Sri Lanka retreated after Federal Reserve Chairman Ben S. Bernanke yesterday said a premature withdrawal of quantitative easing would put the U.S. economic recovery at risk,” Jonathan Burgos reports. What does this say about the US and, in particular, the policies of the Federal Open Market Committee, which are pretty much identical?

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