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...world's oil - will "either decrease or be stable" when OPEC oil ministers next meet in Vienna on March 5. Adding to the jitters over the world's oil supplies was an explosion on Monday at a refinery in Big Spring, Texas, which halted its 67,000-barrel-a-day output, and could shut the facilty for two months. And even before then a bitter wrangle between Venezuela's oil officials and ExxonMobil over a rich oil field, as well as rebel action in the Niger Delta, had raised fears that oil supplies could be seriously interrupted...

Author: /time Magazine | Title: Oil's Sky-High Forecast | 2/21/2008 | See Source »

Racing between OPEC meetings in Vienna, Saudi Arabia's powerful oil minister Ali Al-Naimi told a reporter that the cartel was "determined" to keep the price of oil at around $25 a barrel, rather than risk a slump in the market by boosting its production...

Author: /time Magazine | Title: Oil's Sky-High Forecast | 2/21/2008 | See Source »

Wait a minute. $25? Al-Naimi said that in April 2003 - less than five years ago - when a barrel of oil cost one-quarter of this week's whopping $100, and when prices were regarded as high enough to keep oil-rich countries happy. Which brings up the question: How long will the price of oil remain sky-high...

Author: /time Magazine | Title: Oil's Sky-High Forecast | 2/21/2008 | See Source »

...sell for a hefty profit. According to an investigation by Nicaraguan economist Alejandro Arauz, most such apparel is imported into Nicaragua as "donations" to skirt commercial taxes, then resold for a 200 percent profit. To further cut costs, the used clothing purchased in the U.S. is bottom-of-the-barrel stuff, the garments picked over and left behind at Goodwill and then sold by the bale at a clearance price of 10-15 cents a pound...

Author: /time Magazine | Title: Where New England Won the Super Bowl | 2/15/2008 | See Source »

...vacate my seat, you may ask, if I take issue with your style, substance and mission to fracture the Republican Party? The reason is simple: leaving the talk would have meant giving up a rare opportunity to peer into the bottom of the American political barrel and the outright perversion of dialogue and the English language. Note that I didn’t stay because I was outraged or secretly thrilled by your audacious accusations and asides; the experience was more like staring at a car wreck. I don’t know, Ms. Coulter, if you thought...

Author: By Jan Zilinsky | Title: An Open Letter to Ann Coulter | 2/13/2008 | See Source »

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