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House churches claim the oldest organizational pedigree in Christianity: the book of Acts records that after Jesus' death, his Apostles gathered not at the temple but in an "upper room." House churching has always prospered where resources were scarce or Christianity officially discouraged. In the U.S. its last previous bloom was rooted in the bohemian ethos of the California-bred Jesus People movement of the 1970s. Many of those groups were eventually reabsorbed by larger congregations, and the remnants tend to take a hard line. Frank Viola, a 20-year veteran Florida house churcher and author of Rethinking the Wineskin...

Author: /time Magazine | Title: Why Home Churches are Filling Up | 2/27/2006 | See Source »

...price of crude oil. If oil prices were to rise above a certain level, the synfuel industry would no longer need the credit to make a profit and the subsidy would be phased out. As long as oil prices were below $50 per bbl., synfuel producers could claim the full value of the credit. But in the past year, as prices have risen to as much as $66 per bbl., anxiety has spread through the synfuel ranks that their boondoggle is imperiled...

Author: /time Magazine | Title: A Magic Way to Make Billions | 2/26/2006 | See Source »

...experts differ on how high oil prices would have to go to wipe out the full value of the credit, but most agree that if oil were to remain at recent peak levels, or climb even higher, few synfuel operators could claim the full credit. Citing that uncertainty, the Marriott Corp., which has invested in four synfuel plants, temporarily suspended production in January. Before the shutdown, Marriott had racked up $370 million in synfuel profits...

Author: /time Magazine | Title: A Magic Way to Make Billions | 2/26/2006 | See Source »

...prices were safely below the line to allow synfuel producers to claim the maximum credit. The stealth amendment would roll back the calendar. (Sort of like your missing the deadline for your mortgage payment, then backdating your check to avoid a late charge. But much more lucrative.) The backdating clause was in a larger bill introduced in the Senate by Charles Grassley, the Iowa Republican who heads the Senate Finance Committee. It was inserted in the Tax Relief Act, which provides aid for Hurricane Katrina victims and sets new policies for tax-exempt groups. With so many higher profile issues...

Author: /time Magazine | Title: A Magic Way to Make Billions | 2/26/2006 | See Source »

...fighters have been absorbed into the Iraqi security forces and police, and in the aftermath of the Samarra bombing, many police vehicles in Baghdad were openly flying Mahdi Army colors--black and green. Sunni groups say policemen did nothing to stop the violence last week. In some places, they claim, policemen joined the mobs to kill Sunnis and defile their mosques...

Author: /time Magazine | Title: The Wild Card | 2/26/2006 | See Source »

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