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...closed-door meeting in Washington comes amid a frenzy of war preparations that has helped drive oil prices above $35 per bbl., from $20 a year ago. A one-third cutback in petroleum production by Venezuela, beset by a political crisis, has contributed to the price increase, leaving the U.S. more dependent on Middle Eastern crude. Americans are also weathering an exceptionally cold winter, which is boosting demand for heating oil. At the gas pump, the average price of regular unleaded gasoline is $1.53 per gal., up 43¢ from the price 12 months ago and 11¢ just since...

Author: /time Magazine | Title: Iraq: War and the Economy: All About The Oil | 2/17/2003 | See Source »

...week. As for the broader market, ?we would not expect a quick military victory to completely eliminate risks." At best, "it will bring a sigh of relief to equity investors and refocus attention on the fundamental backdrop." A backdrop which still includes the earnings woes and slender profits that beset much of corporate America with or without the uncertainty in the Middle East...

Author: /time Magazine | Title: The Recovery: War is Only the Beginning | 2/1/2003 | See Source »

...Today, the serene yet slightly mad-looking stupa (it's meant to be viewed from the sky) is beset by a very modern evil: rapacious commercialism. The grounds around its entrance are a labyrinth of souvenir stands and caf?s where vendors have greatly outnumbered visitors since the bombings in Bali. Tourists in Borobudur are subjected to a grueling gauntlet of hawkers selling the usual range of junky stuff imprinted or embroidered with the name of the place. The asongan, as the vendors are known, are aggressive, sometimes to the edge of frenzy...

Author: /time Magazine | Title: Battle of Borobudur | 1/27/2003 | See Source »

...there something about our psychic makeup that makes one gender more vulnerable to some disorders than others? Or does it have more to do with societal roles? And if environment is the determining factor, will the illnesses that beset each sex change as society evolves...

Author: /time Magazine | Title: What's Sex Got to Do with It? | 1/20/2003 | See Source »

...unfazed by the downturn that has led some economists to predict France's GDP growth could be as low as .9% in 2003. "I'm not worried," he says. "I still have the same spending pattern as always." But many government and industry types are plenty worried. Beset by feeble growth and preoccupied with the possibility of war with Iraq, the euro zone's major economies are stuck in an economic rut - one from which, at least in the short term, they look unlikely to escape. Business investment has declined. Governments are hamstrung by budget deficit restrictions imposed...

Author: /time Magazine | Title: Marking Down the Future | 1/19/2003 | See Source »

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