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Barack Obama's great insight is to blame "speculators" for raising oil prices artificially. This could even be true, but if so, it's irrelevant. Speculators cannot affect the price of oil in the long run. What speculators do is get us to the long run sooner. If they think underlying forces of supply and demand will ultimately result in oil at $200 per bbl., they will bid up the price until it is close to $200 per bbl. already. Similarly, if speculators think the price of oil will go down, they will drive it down more quickly. So, actually...

Author: /time Magazine | Title: The Oil Follies? Our Fault | 6/26/2008 | See Source »

Carlin was a product of the counterculture era in lifestyle as well as comedy. His drug use became so heavy in the mid-'70s that it began to affect his health (he had a heart attack in 1978, the start of heart problems that would eventually kill him) and his career as well. "I really wasn't being as creative," Carlin admitted years later. "I lost years. I could have been a pole vaulter in those years, and instead I was kind of like doing hurdles...

Author: /time Magazine | Title: How George Carlin Changed Comedy | 6/23/2008 | See Source »

...What we're deciding here will affect actors for a generation," says Doug Allen, SAG's national executive director and chief negotiator. "The notion that the [Directors Guild of America], [Writers Guild of America] and SAG should all get the same deal is not fair. What's good for directors is not necessarily good for actors...

Author: /time Magazine | Title: Another Strike in Hollywood? | 6/20/2008 | See Source »

...faith in the prevention community that "the teen brain" should not be exposed to any alcohol. But the research on alcohol and the young brain is actually quite murky. It has mainly shown that very high doses of alcohol given to adolescent rats (those roughly 40 days old) affect those animals differently from the way alcohol affects adult rats. In typical studies, the rats are injected with 5 g of alcohol per 1,000 g of their body weight, often after the rodents have been deprived of food for 12 hours. Rats metabolize alcohol about 10 times as fast...

Author: /time Magazine | Title: Should You Drink with Your Kids? | 6/19/2008 | See Source »

...privacy and discussed not just the impact of their faith on their policies but also their experience of the Holy Spirit, their favorite Scriptures and the focus of their prayers. And so we treat their pastors as partisan players, their churches as focus groups. How is that likely to affect the choices candidates make, the churches they join, the counsel they seek? Will they have to vet their congregations the way they do their Cabinets? Or follow Richard Nixon's example and move services into the White House, where he found them to be the ideal opportunity to reward friends...

Author: /time Magazine | Title: Prayer and the Presidency | 6/19/2008 | See Source »

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