Afternoon Coffee: Verizon Buys AOL, Arctic Opens for Offshore Oil Drilling

Verizon announced it will buy AOL Inc. for $4.4 billion – a move that is expected to significantly ramp up the wireless carrier's mobile video platform.

Shell was given the green light to begin drilling for oil in the Arctic off the coast of Alaska this summer. The decision by the Obama administration comes 4 months after it opened up part of the Atlantic Coast for offshore oil drilling.

While congestion continues to plague West Coast ports, the ports and port users expect operations to pick back up to normal levels by the end of May.

The release of the new Telsa line of batteries for homes and businesses could be the biggest new product rollout ever – bigger than Viagra’s debut in 1998 and even bigger than the original iPhone release in 2007.

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