Offshore Drilling, Cabrini-Green: Hot Trends

'Offshore drilling,' Cabrini-Green, 'debt reduction' and Kara DioGuardi and are the trending topics on Google and Yahoo.
By Theresa McCabe ,

(Google Trends article updated with new information on the new offshore drilling policy and Chicago's Cabrini-Green housing project.)

NEW YORK (

TheStreet

) -- "Offshore drilling" is a popular search topic today after President Barack Obama's administration said it will not propose any new oil drilling projects off the East Coast of the U.S. for at least seven years.

Following the

BP

(BP) - Get Report

oil spill, the government has decided to avoid new drilling projects in the waters off the eastern Gulf of Mexico as well.

The new plan will allow possible drilling in Alaska, however officials say they will approach any new projects with caution.

"Cabrini-Green" is a trending search topic today following the news that the high-rise public housing project in Chicago has been closed.

After two families refused to move out of the building, the Chicago Housing Authority filed an emergency motion demanding the closure.

A federal judge has given the last two families in the building 10 days to move out after U.S. District Judge William Hibbler said it is too dangerous to keep the building open for two families.

"Debt reduction" was a popular search topic this morning as President Barack Obama's administration unveiled the new deficit plan today.

Cochairmen Erskine Bowles and Alan Simpson introduced the plan to Obama's deficit commission, as expected, but many expect the proposal to fall short of the 14-vote majority needed in Congress.

The revised plan would raise the Social Security retirement age to 69 by 2075, make cuts to Medicare and Medicaid, and nearly double the federal tax on gasoline. It aims to save $4 trillion by 2020

"Kara DioGuardi" is a heavily searched topic today following news that the former

American Idol

judge is writing a memoir about her experiences on the show and her career.

>>New American Idol Judges: Search Comes to an End

The book will focus on "her life and career as a producer, songwriter and artist," and will be published by

It Books

.

Helluva High Note: Surviving Life, Love, And American Idol

will hit stores on April 26, 2011.

The chatter on Main Street (a.k.a. Google) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on Google, and highlights the news that could make stocks move.

-- Written by Theresa McCabe in Boston.

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