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...informed by Pertamina that its contract to operate the field, set to end in 2010, would not be continued. Exxon-Mobil says it will hold off on a $2.6 billion investment to develop the field until its contract is extended. With oil prices remaining near $50 a barrel, Indonesia is losing nearly $3 billion a year in oil production due to this one unresolved dispute alone...

Author: /time Magazine | Title: Indonesia's New Deal | 9/27/2004 | See Source »

...widening public-sector deficit by adopting a package of revenue-producing and cost-cutting measures. President Gloria Macapagal Arroyo has declared that we are in the midst of a fiscal crisis. In spite of those dire conditions, our lawmakers wouldn't dream of cutting their congressional pork-barrel funds. President Arroyo, quo vadis? Joel R. Hinlo Las Pi?as City, the Philippines...

Author: /time Magazine | Title: Letters | 9/27/2004 | See Source »

...assault rifle” as any semi-automatic rifle with a detachable magazine and at least two of: “a folding or telescoping stock; a pistol grip that protrudes conspicuously beneath the action of the weapon; a bayonet mount; a flash suppressor or threaded barrel designed to accommodate a flash suppressor; and a grenade launcher...

Author: By Joshua A. Barro, | Title: Assault Weapons Ban Ineffective and Arbitrary | 9/27/2004 | See Source »

Last week, Benjamin Running, a 28-year-old New York graphic designer, posted a video of himself uncapping a ballpoint pen and jamming the barrel of the pen into the round keyhole of a $50 Kryptonite lock, rotating it until the lock popped free. The U-shaped bicycle locks are popular among bicycle owners, who have been told that these locks are the safest that money...

Author: By Lowell K. Chow, CONTRIBUTING WRITER | Title: Kryptonite's Weakness | 9/23/2004 | See Source »

Eclectic style dominated fall fashion runways, and now two home-furnishings giants are applying a similar, offbeat and personalized look to everyday items like upholstered sofas and margarita glasses. With the launch of its new website, cb2.com Crate and Barrel is taking the "look what I found" approach to shopping for home furnishings and accessories. The lifestyle site, designed with graphics based on international travel signs guiding shoppers through eight categories including "live," "eat," "work" and "party," sells a random mix of modern furnishings like boldly colored sectional sofas ($389-$599) and entertaining essentials like tiny square wasabi plates...

Author: /time Magazine | Title: Style: A New Look at Home | 9/20/2004 | See Source »

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