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...market is the open interest, the total number of outstanding positions. For contracts ranging from next month to a decade from now, there is a total of one billion barrels accounted for from the total number of outstanding positions. Interestingly enough, more than 30 billion barrels of oil are actually consumed each year. Despite all the volume, the claims realized through open interest pale in comparison to the actual consumption of oil. The futures market is much smaller than the real oil market. When you consider margin, the amount of money actually invested is even smaller. Indeed, one dollar invested...

Author: /time Magazine | Title: Are Oil Prices Rigged? | 8/22/2008 | See Source »

...also have evidence from the actual performances themselves. Since some anti-doping controls have been introduced, the caliber of top performances in the world has already been reduced dramatically. For example, the world record in the women's 400 m, which was set in 1985 by Marita Koch, is 47.6 sec. These days, Olympic finalists would be happy to get below 50 sec. That's a 30-meter difference! [Editor's note: Koch has never publicly admitted to cheating...

Author: /time Magazine | Title: Do Clean Athletes Have a Chance? | 8/20/2008 | See Source »

...measuring victory since the Electoral College. Gold, silver and bronze all count as one point? Then why make different medals? Sure, it practically guarantees that the U.S. gets first place, but that's only in a system in which it's as good to be third best as actual best-and in that world, Ralph Nader would get to make presidential decisions. If you also gave a point in the medal count for fourth through 6.7 billionth best in each sport, China and India would be kicking...

Author: /time Magazine | Title: Raising the Stakes at the Olympics | 8/20/2008 | See Source »

...that verismo vibe: they'll finish the film with no crew around, only hidden cameras and surprise explosions. But a couple of things go wrong, and the stars, plus rapper-actor Chino (Brandon T. Jackson) and tyro talent Kevin Sandusky (Jay Baruchel), wander into a real war with actual bad guys and live ammunition. Art meets life; schlock faces imminent death...

Author: /time Magazine | Title: Tropic Thunder Brings Jungle Fever | 8/7/2008 | See Source »

...actual inexhaustible force behind the new movie is Seth Rogen, the 26-year-old comedy prodigy (in a 45-year-old accountant's body) who has starred in Knocked Up, Superbad and Pineapple Express; co-wrote the last two, plus Drillbit Taylor, with his longtime pal Evan Goldberg, as well as co-producing them; and, presumably on weekends, provided voices for the animated films Horton Hears a Who and Kung Fu Panda and for the Hogsqueal character in The Spiderwick Chronicles. The characters he plays may be slackers, but in real life this guy is organized...

Author: /time Magazine | Title: Pineapple Express: Very Dope | 8/6/2008 | See Source »

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