ECB forecast cuts send oil lower






NEW YORK: Oil prices sank along with the euro Thursday after the European Central Bank forecast that the eurozone would continue to contract next year and only return to growth in 2014.

New York's main contract, WTI crude for delivery in January, recoiled $1.62 to $86.26 a barrel.

In London trade, Brent North Sea crude for January dived $1.78 to $107.03 a barrel.

The falls paralleled that of the euro, which sank about 0.8 percent after the ECB announcements following its policy board meeting.

In its regular quarterly staff economic projections, the ECB forecast that the euro area economy will shrink by 0.5 percent in 2012 and another 0.3 percent in 2013, instead of growing by 0.5 percent next year as previously estimated.

The Frankfurt-based central bank also opted not to cut its benchmark interest rate, but ECB chief Mario Draghi left the door open for one in the future.

"Crude oil extended its losses today on a combination of technical selling and growth concerns after the ECB trimmed its GDP forecasts for the eurozone," said analyst Fawad Razaqzada at trading group GFT Markets.

No break in the impasse over the fiscal cliff in Washington meanwhile kept a cloud over the oil market in afternoon trade.

Congress and the White House have until the end of the month to come up with new legislation to avert the harsh spending cuts and tax hikes programmed for January under the "cliff" package.

-AFP/ac



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NH8 stretch on Delhi-Gurgaon border is India’s deadliest road

NEW DELHI: Perhaps, the deadliest stretch in the country falls on the Delhi-Gurgaon border on NH8. Data available with TOI shows that 260 lives were lost on this 40-km stretch last year.

While the Gurgaon section killed 160 people in 2011, another 100 died in road crashes on Kapdiwas border and Daruhera stretch. The high rate of fatalities has exposed how safety of road users has been the lowest priority in comparison to sustained focus on adding lanes to existing highways to ramp up their capacity. In the past 10 months, the Gurgaon portion of the highway has recorded 121 deaths. All stretches, barring the Manesar-Kapdiwas stretch in Gurgaon, recorded high number of fatalities this year in comparison to 2011.

While the 27.7km Delhi-Gurgaon border-Kherki Dhaula stretch has been developed as an expressway, the rest is being expanded to six lanes. Road safety experts have been raising alarm that the safety apparatus have been missing on almost all highway stretches, which are under expansion programme and in the case of already constructed ones there are utter lack of adequate facilities for safe passage of pedestrians and movement of local traffic.

Taking note of the trend, the highways ministry has identified Rajeev Chowk and Hero Honda crossings in Gurgaon as major black spots.

It has also worked out a strategy to rectify the engineering faults, including placing proper signage, to make them safer.

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High-Voltage DC Breakthrough Could Boost Renewable Energy

Patrick J. Kiger



Thomas Edison championed direct current, or DC, as a better mode for delivering electricity than alternating current, or AC. But the inventor of the light bulb lost the War of the Currents. Despite Edison's sometimes flamboyant efforts—at one point he electrocuted a Coney Island zoo elephant in an attempt to show the technology's hazards—AC is the primary way that electricity flows from power plants to homes and businesses everywhere. (Related Quiz: "What You Don't Know About Electricity")


But now, more than a century after Edison's misguided stunt, DC may be getting a measure of vindication.


An updated, high-voltage version of DC, called HVDC, is being touted as the transmission method of the future because of its ability to transmit current over very long distances with fewer losses than AC. And that trend may be accelerated by a new device called a hybrid HVDC breaker, which may make it possible to use DC on large power grids without the fear of catastrophic breakdown that stymied the technology in the past.  (See related photos: "World's Worst Power Outages.")


Swiss-based power technology and automation giant ABB, which developed the breaker, says it may also prove critical to the 21st century's transition from fossil fuels to renewable energy sources, by tapping the full potential of massive wind farms and solar generating stations to provide electricity to distant cities.


So far, the device has been tested only in laboratories, but ABB's chief executive, Joe Hogan, touts the hybrid HVDC breaker as "a new chapter in the history of electrical engineering," and predicts that it will make possible the development of "the grid of the future"—that is, a massive, super-efficient network for distributing electricity that would interconnect not just nations but multiple continents. Outside experts aren't quite as grandiose, but they still see the breaker as an important breakthrough.


"I'm quite struck by the potential of this invention," says John Kassakian, an electrical engineering and computer science professor at the Massachusetts Institute of Technology. "If it works on a large scale and is economical to use, it could be a substantial asset."




Going the Distance


The hybrid HVDC breaker may herald a new day for Edison's favored mode of electricity, in which current is transmitted in a constant flow in one direction, rather than in the back-and-forth bursts of AC. In the early 1890s, DC lost the so-called War of the Currents mostly because of the issue of long-distance transmission.


In Edison's time, because of losses due to electrical resistance, there wasn't an economical technology that would enable DC systems to transmit power over long distances. Edison did not see this as a drawback because he envisioned electric power plants in every neighborhood.


But his rivals in the pioneering era of electricity, Nikola Tesla and George Westinghouse, instead touted AC, which could be sent long distances with fewer losses. AC's voltage, the amount of potential energy in the current (think of it as analogous to the pressure in a water line), could be stepped up and down easily through the use of transformers. That meant high-voltage AC could be transmitted long distances until it entered neighborhoods, where it would be transformed to safer low-voltage electricity.


Thanks to AC, smoke-belching, coal-burning generating plants could be built miles away from the homes and office buildings they powered. It was the idea that won the day, and became the basis for the proliferation of electric power systems across the United States and around the world.


But advances in transformer technology ultimately made it possible to transmit DC at higher voltages. The advantages of HVDC then became readily apparent. Compared to AC, HVDC is more efficient—a thousand-mile HVDC line carrying thousands of megawatts might lose 6 to 8 percent of its power, compared to 12 to 25 percent for a similar AC line. And HVDC would require fewer lines along a route. That made it better suited to places where electricity must be transmitted extraordinarily long distances from power plants to urban areas. It also is more efficient for underwater electricity transmission.


In recent years, companies such as ABB and Germany's Siemens have built a number of big HVDC transmission projects, like ABB's 940-kilometer (584-mile) line that went into service in 2004 to deliver power from China's massive Three Gorges hydroelectric plant to Guangdong province in the South. In the United States, Siemens for the first time ever installed a 500-kilovolt submarine cable, a 65-mile HVDC line, to take additional power from the Pennsylvania/New Jersey grid to power-hungry Long Island. (Related: "Can Hurricane Sandy Shed Light on Curbing Power Outages?") And the longest electric transmission line in the world, some 2,500 kilometers (1,553 miles), is under construction by ABB now in Brazil: The Rio-Madeira HVDC project will link two new hydropower plants in the Amazon with São Paulo, the nation's main economic hub. (Related Pictures: "A River People Await an Amazon Dam")


But these projects all involved point-to-point electricity delivery. Some engineers began to envision the potential of branching out HVDC into "supergrids." Far-flung arrays of wind farms and solar installations could be tied together in giant networks. Because of its stability and low losses, HVDC could balance out the natural fluctuations in renewable energy in a way that AC never could. That could dramatically reduce the need for the constant base-load power of large coal or nuclear power plants.


The Need for a Breaker


Until now, however, such renewable energy solutions have faced at least one daunting obstacle. It's much trickier to regulate a DC grid, where current flows continuously, than it is with AC. "When you have a large grid and you have a lightning strike at one location, you need to be able to disconnect that section quickly and isolate the problem, or else bad things can happen to the rest of the grid," such as a catastrophic blackout, explains ABB chief technology officer Prith Banerjee. "But if you can disconnect quickly, the rest of the grid can go on working while you fix the problem." That's where HVDC hybrid breakers—basically, nondescript racks of circuitry inside a power station—could come in. The breaker combines a series of mechanical and electronic circuit-breaking devices, which redirect a surge in current and then shut it off.  ABB says the unit is capable of stopping a surge equivalent to the output of a one-gigawatt power plant, the sort that might provide power to 1 million U.S. homes or 2 million European homes, in significantly less time than the blink of an eye.


While ABB's new breaker still must be tested in actual power plants before it is deemed dependable enough for wide use, independent experts say it seems to represent an advance over previous efforts. (Siemens, an ABB competitor, reportedly also has been working to develop an advanced HVDC breaker.)


"I think this hybrid approach is a very good approach," says Narain Hingorani, a power-transmission researcher and consultant who is a fellow with the Institute of Electrical and Electronics Engineers. "There are other ways of doing the same thing, but they don't exist right now, and they may be more expensive."


Hingorani thinks the hybrid HVDC breakers could play an important role in building sprawling HVDC grids that could realize the potential of renewable energy sources. HVDC cables could be laid along the ocean floor to transmit electricity from floating wind farms that are dozens of mile offshore, far out of sight of coastal residents. HVDC lines equipped with hybrid breakers also would be much cheaper to bury than AC, because they require less insulation, Hingorani says.


For wind farms and solar installations in the Midwest and Rocky Mountain regions, HVDC cables could be run underground in environmentally sensitive areas, to avoid cluttering the landscape with transmission towers and overhead lines. "So far, we've been going after the low-hanging fruit, building them in places where it's easy to connect to the grid," he explains. "There are other places where you can get a lot of wind, but where it's going to take years to get permits for overhead lines—if you can get them at all—because the public is against it."


In other words, whether due to public preference to keep coal plants out of sight, or a desire to harness the force of remote offshore or mountain wind power, society is still seeking the least obtrusive way to deliver electricity long distances. That means that for the same reason Edison lost the War of the Currents at the end of the 19th century, his DC current may gain its opportunity (thanks to technological advances) to serve as the backbone of a cleaner 21st-century grid. (See related story: "The 21st Century Grid: Can we fix the infrastructure that powers our lives?")


This story is part of a special series that explores energy issues. For more, visit The Great Energy Challenge.


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McAfee Mystery Deepens With Possible Heart Attack













Software millionaire John McAfee has been taken to a Guatemala City hospital via ambulance after suffering a possible heart attack at the detention center where he is being held.


McAfee, 67 -- who may soon be deported back to Belize, where authorities want to question him about the shooting death of his neighbor -- was reportedly prostrate on the floor of his cell and unresponsive. He was wheeled into the hospital on a gurney, but when nurses began removing his suit, he became responsive and said, "Please, not in front of the press."


Earlier today, McAfee had complained of chest pains.


McAfee was scheduled to be deported to Belize later this morning, ABC News has learned. But a judge could stay the ruling if it is determined that McAfee's life is threatened by being in Belizean custody, as McAfee has claimed in the past several weeks.


Raphael Martinez, a spokesman for the Belize government, said that if McAfee is deported to Belize, he would immediately be handed over to police and detained for up to 48 hours unless charges are brought against him.


"There is more that we know about the investigation, but that remains part of the police work," he said, hinting at possible charges.


He added that a handover by Guatemala would be "the neighborly thing to do."


A spokesman for the U.S. embassy in Guatemala said that "due to privacy considerations," the embassy would "have no comment on the specifics of this situation," but that, "U.S. citizens are subject to the laws of the countries in which they are traveling or residing, and must work within the host countries' legal framework."


Just hours before McAfee's arrest, he told ABC News in an exclusive interview Wednesday he would be seeking asylum in Guatemala. McAfee was arrested by the Central American country's immigration police and not the national police, said his attorney, who was confident his client would be released within hours.






Guatemala's National Police/AP Photo













Software Founder Breaks Silence: McAfee Speaks on Murder Allegations Watch Video









John McAfee Interview: Software Mogul Leaves Belize Watch Video





"Thank God I am in a place where there is some sanity," said McAfee before his arrest. "I chose Guatemala carefully."


McAfee said that in Guatemala, the locals aren't surprised when he says the Belizean government is out to kill him.


"Instead of going, 'You're crazy,' they go, 'Yeah, of course they are,'" he said. "It's like, finally, I understand people who understand the system here."


But McAfee added he has not ruled out moving back to the United States, where he made his fortune as the inventor of anti-virus software, and that despite losing much of his fortune he still has more money than he could ever spend.


In his interview with ABC News, a jittery, animated but candid McAfee called the media's representation of him a "nightmare that is about to explode," and said he's prepared to prove his sanity.


McAfee has been on the run from police in Belize since the Nov. 10 murder of his neighbor, fellow American expatriate Greg Faull.


During his three-week journey, said McAfee, he disguised himself as handicapped, dyed his hair seven times and hid in many different places during his three-week journey.


He dismissed accounts of erratic behavior and reports that he had been using the synthetic drug bath salts. He said he had never used the drug, and said statements that he had were part of an elaborate prank.


Investigators said that McAfee was not a suspect in the death of the former developer, who was found shot in the head in his house on the resort island of San Pedro, but that they wanted to question him.


McAfee told ABC News that the poisoning death of his dogs and the murder just hours later of Faull, who had complained about his dogs, was a coincidence.


McAfee has been hiding from police ever since Faull's death -- but Telesforo Guerra, McAfee's lawyer in Guatemala, said the tactic was born out of necessity, not guilt.


"You don't have to believe what the police say," Guerra told ABC News. "Even though they say he is not a suspect they were trying to capture him."


Guerra, who is a former attorney general of Guatemala, said it would take two to three weeks to secure asylum for his client.


According to McAfee, Guerra is also the uncle of McAfee's 20-year-old girlfriend, Samantha. McAfee said the government raided his beachfront home and threatened Samantha's family.


"Fifteen armed soldiers come in and personally kidnap my housekeeper, threaten Sam's father with torture and haul away half a million dollars of my s***," claimed McAfee. "If they're not after me, then why all these raids? There've been eight raids!"


Before his arrest, McAfee said he would hold a press conference on Thursday in Guatemala City to announce his asylum bid. He has offered to answer questions from Belizean law enforcement over the phone, and denied any involvement in Faull's death.






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Rubio, Ryan look to the future during award dinner speeches



“Nothing represents how special America is more than our middle class. And our challenge and our opportunity now is to create the conditions that allow it not just to survive, but to grow,” said Sen. Marco Rubio (Fla.), the Leadership Award recipient at a dinner hosted by the Jack Kemp Foundation, a charitable nonprofit organization named for the late congressman and Housing and Urban Development secretary.

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Ferry to Tanjong Pinang stranded after hitting corals






SINGAPORE: A ferry travelling from Singapore to the Indonesia island of Tanjong Pinang was stranded after hitting corals on Wednesday evening.

Indonesian online media Batam Today reported the incident happened near Lobam island, in the Bintan region at about 6.50pm local time.

No casualties were reported. However, one passenger suffered head injuries and was sent to a nearby hospital. The remaining 97 passengers were evacuated to a port at Tanjung Uban via several Indonesian boats.

Local media reported that 13 of the passengers are Singaporean, with the rest being Indonesians.

The ferry, MV Sindo 31, left Singapore's Tanah Merah Terminal at 6.30pm Singapore time. After travelling more than an hour, the ferry suddenly stalled when it hit corals. At the time of reporting, the ferry was still stranded at that location.

-CNA/ac



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Pranab escapes facing poll trial, SC bench knocks out Sangma plea 3:2

NEW DELHI: President Pranab Mukherjee on Wednesday escaped an election trial in the Supreme Court as a five-judge Constitution bench dismissed by a 3:2 majority a petition by Purno Sangma seeking quashing of Mukherjee's election to the top constitutional post.

While challenging Mukherjee's election on the ground that he was disqualified to contest as he had not resigned from two posts of offices of profit prior to filing of nomination, Sangma had pleaded with the bench of Chief Justice Altamas Kabir and Justices P Sathasivam, S S Nijjar, J Chelameswar and Ranjan Gogoi for a detailed trial on his election petition and decide his objections after a thorough scrutiny.

But the bench decided that Sangma's petition did not disclose such documents and plead issues that required entertaining the plea beyond the preliminary scrutiny stage for a full-fledged trial which could have involved Mukherjee's possible cross-examination by Sangma's lawyer.

CJI Kabir and Justices Sathasivam and Nijjar formed the majority to say, "We are not convinced that in the facts and circumstances of the case, the petition deserves a full and regular hearing as contemplated under Rule 20 of Order XXXIX of the Supreme Court Rules, 1966." Justices Chelameswar and Gogoi, in separate judgments, dissented with the majority view and said the facts and documents annexed by Sangma with his petition challenging Mukherjee's election warranted a detailed hearing.

Justice Chelameswar did not agree with the majority view but said he would soon furnish reasons for his dissent. Justice Gogoi said that Mukherjee needed to prove during the detailed hearing that he did not hold any office of profit at the time of filing of nomination.

"No conclusion that a regular hearing in the present case will be a redundant exercise or an empty formality can be reached so as to dispense with the same and terminate the petition at the stage of its preliminary hearing under Order XXXIX Rule 13. The election petition, therefore, deserves a regular hearing," Justice Gogoi said in his dissenting judgment.

Senior advocate P H Parekh, who has represented the last four presidents, including Mukherjee, as counsel in SC, said V V Giri was the last president to face cross-examination in an election petition. "He was made to sit on the dais away from the judges when he answered questions from the petitioner's counsel," Parekh recalled.

After that, Rule 13 of the Supreme Court Rules was amended so as to provide for preliminary scrutiny of election petitions against the president so as to weed out frivolous pleas at an early stage without embarrassing the country's first citizen by calling him to answer questions during cross-examination.

The majority judgment, authored by the CJI for himself and Justices Sathasivam and Nijjar, was emphatic in rejecting Sangma's counsel Ram Jethmalani's plea for a detailed hearing on the petition, which alleged that Mukherjee incurred disqualification for filing nomination without resigning as leader of Congress in Lok Sabha and chairman of Indian Statistical Institute, Kolkata.

"In the instant case, the office of chairman of the institute did not provide for any of the amenities indicated hereinabove and, in fact, the said office was also not capable of yielding profit or pecuniary gain," Justice Kabir said. "In regard to the office of the leader of the House, it is quite clear that the respondent had tendered his resignation from membership of the House before he filed his nomination papers for the presidential election," the majority judgment said.

It said the controversy that Mukherjee had resigned from membership of the Congress party and its Central Working Committee allegedly on June 25, 2012 was set at rest by the affidavit filed by the president's private secretary Pradeep Gupta.

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NYC Subway Pusher Charged With Murder













A New York City man was charged today with murder for shoving another man onto subway tracks where he was struck and killed by an oncoming train.


Naeem Davis, 30, was charged after being questioned by police since Tuesday about the death of Ki-Suck Han, 58, of Queens, N.Y.


The charges include murder second degree: intentional, as well as murder second degree: depraved indifference.


He is charged with murdering Han "with depraved indifference" not because he intended to kill Han, but because his lack of regard for Han's life resulted in the death. Two sources involved in Davis' arrest and charging say there is a question whether he intended to kill Han or whether his death was an unintended consequence of an altercation.










NYC Man Pushed on Subway Tracks, Killed by Train Watch Video







Davis admitted to police while explaining the incident that he shoved Han in a way that caused him to fall onto the subway tracks, according to multiple sources involved with the investigation.


Han struggled to pull himself up from the shoulder-high track bed and back onto the platform at the 49th Street and Seventh Avenue station around 12:30 p.m. on Monday, but was hit and killed by a Q train when it barrelled into the station.


Davis could be heard arguing with Han before the fatal shove, according to surveillance video from the station. Davis told police that Han was harassing him and would not leave him alone, so he pushed Han.


Detectives are investigating whether the altercation began at the subway station turnstile and whether Han had jumped that turnstile and bumped Davis.


Police are also awaiting toxicology results on Han, who was found with an empty pint bottle of vodka on him when he died, according to sources.


Davis has no currently known mental illness history. He has prior arrests for minor charges, although the search of his arrest record is not complete. Those arrests in New York City appear to be peddler related.


He is expected to be arraigned this evening in New York.


Han death shocked New York City and the moment was frozen in the city's psyche by a photograph that captured Han with his arms and head above the platform staring at the oncoming train.


A doctor who was standing nearby attempted to perform CPR on Han, but he was pronounced dead at Roosevelt Hospital shortly after the accident.



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Giant Sequoias Grow Faster With Age


Aging giant sequoia trees are growing faster than ever, with some of the oldest and tallest trees producing more wood, on average, in old age than they did when they were younger. (Read about redwoods, another species of giant tree, in National Geographic magazine.)

A 2,000-year-old giant sequoia is just cranking out wood, said Steve Sillett, a professor at Humboldt State University in California and author of recent research on the big trees.

Other long-lived trees like coast redwoods and Australia's Eucalyptus regnans also show an increase in wood production during old age, according to the journal Forest Ecology and Management.

That may be because a tree's leaf area increases as its crown expands over a long life span. The leaves produce more sugars through photosynthesis, Sillett said, and these sugars build wood across a growing cambium, or the living surface separating bark and wood in trees.

"What we're finding," Sillett said, "is that the rate of wood production in some species doesn't slow down until a tree gets to the end of its lifetime."

Sequoias Active in Old Age

Sillett's team recently measured the President, a 3,200-year-old giant sequoia tree in California's Sequoia National Park. By climbing and measuring the tree, they calculated that the 247-foot-tall (75-meter-tall) giant holds more than 54,000 cubic feet (1,500 cubic meters) of wood and bark, earning it the ranking of second largest tree on Earth, as reported in National Geographic. (Watch video: Photographing the President.)

"Eventually every tree will suffer structural collapse and fall apart," said Sillett. "All Earthlings have finite life spans, but some trees live more than a thousand years without slowing down."

(Interactive gallery: The creatures that call giant sequoias home.)

Sillett is also co-leading the Redwoods and Climate Change Initiative group investigating how climate changes may affect tree growth. They've established long-term monitoring plots throughout the geographic ranges of both redwood species in California and have recorded growth histories of over a hundred trees.

Because the trees are still alive, Sillett said, they can go back to specific trees and evaluate predictions about their growth responses to climate variation.

"Annual rings provide a wonderful, long-term record of a tree's performance," Sillett said. "By studying a tree's rings, we can, in a sense, translate what it knows about the forest."


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Golf: McIlroy named US PGA Tour Player of Year






PONTE VEDRA BEACH, Florida: Rory McIlroy, whose four US PGA Tour victories in 2012 included a major title at the PGA Championship, was named the US tour's Player of the Year on Tuesday.

US tour members vote on the award, which made the 23-year-old from Northern Ireland the youngest player to be named Player of the Year since then 21-year-old Tiger Woods in 1997.

McIlroy authored a strong finish to the season, including his eight-shot PGA Championship triumph at Kiawah Island, winning the money title and the Vardon Trophy for lowest adjusted scoring average.

"It's just a great way to end what has been a great year, my best season so far," McIlroy said.

McIlroy became the third European in five years to capture the award. Ireland's Padraig Harrington won it in 2008, and England's Luke Donald received it last year.

The tour does not announce the voting numbers for the award, but the ballot for Player of the Year also included Woods, who had three wins this season, Jason Dufner, Masters Champion Bubba Watson and Brandt Snedeker, who captured his second title of the season at the Tour Championship to claim the FedEx Cup playoff crown.

John Huh, the only rookie to make it to the Tour Championship, was named Rookie of the Year.

Huh, who secured his card in qualifying-school, won a tournament in Mexico in February that was played opposite the WGC Match Play Championship.

At Playa Del Carmen, Huh parred all eight playoff holes to beat Australian Robert Allenby in a marathon playoff for the title.

After his PGA Championship triumph, McIlroy went on to win the Deutsche Bank Championship and the BMW Cchampionship at Crooked Stick.

McIlroy's other victory was earlier in the season, when he held of Woods to win the Honda Classic and reach number one in the world for the first time.

He surrendered and regained the top spot several times over the season until settling in at number one with his strong late form.

"I think everyone knows that my game wasn't where I wanted it to be through the start of the summer and leading up to the PGA," McIlroy said on a conference call.

Once he had the second major of his career under his belt, however, he was off and running.

"From that I gained a lot of confidence, knowing that I could win my second major," he said. "And I went on from there."

PGA Tour commissioner Tim Finchem, said McIlroy's professionalism was as striking as his game.

"He has handled himself in terrific fashion," Finchem said. "He has been very direct with the media and entertaining to the fans inside and outside the ropes. He is at a very young age already making a very solid contribution to what is the most important asset of the PGA Tour, and that is the image of its players."

- AFP/fa



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