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...withstand any new market shocks. Global stockpiles are at their largest in about five years because of the downturn in demand brought on by the recession. Many countries also created large strategic oil reserves after the 1979 experience. And in an effort to stabilize oil prices, both the U.S. Congress and the Obama Administration are considering clamping down on speculation in energy futures, said Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission, on Tuesday. Speculation is one factor believed by economists to have contributed to the turmoil in oil prices that saw them hit a high...

Author: /time Magazine | Title: Oil Shocks: Biden, Iran and Fears of Another Price Jump | 7/7/2009 | See Source »

...site is still in its early stages and will need refinement. Over the next two years, they're hoping to get at least 1 million members and establish the site as a clearinghouse for information on energy efficiency. The future of cap and trade will be decided in Congress, not on the Internet - but My Emissions Exchange does give a little power to the people, and that's not a bad thing. "We're realistic about the challenges ahead of us," says Herrgesell. "But I think we can make this market work...

Author: /time Magazine | Title: Getting Your Slice of the Cap-and-Trade Pie | 7/7/2009 | See Source »

...embryos may end up being used in research, couples undergoing IVF should be made fully aware of the widest range of possibilities. Overall, the NIH rules took into account 49,000 comments submitted to the agency by scientists, patient advocates, medical and religious organizations, private citizens and members of Congress during a public comment period...

Author: /time Magazine | Title: New Rules Expand Federal Funding of Stem Cells | 7/7/2009 | See Source »

Then there's the 1933 Glass-Steagall Act, which separated commercial banking from other financial endeavors. By the time Congress repealed the law in 1999, it seemed utterly out of step with the times, but now many economists are wondering if there is something to the idea of separating risky financial activities from essential ones. Or we could tax financial transactions, a policy suggested as far back as 1929 by Virginia Senator Carter Glass (he of the Glass-Steagall Act) and now identified most closely with the late Yale economist James Tobin. In the 1970s, Tobin proposed...

Author: /time Magazine | Title: Dumbing Down Regulation: The Quest For Simpler Rules | 7/6/2009 | See Source »

...told the official news agency that rioters burned 261 motor vehicles and about 200 shops yesterday in violence that was, according to an earlier Xinhua report, "masterminded from overseas by the separatist World Uighur Congress (WUC) led by Rebiya Kadeer." Sections of the city populated by concentrations of ethnic Uighurs, who make up only about 10% of Urumqi's population, were reportedly under curfew on Monday...

Author: /time Magazine | Title: China: At Least 140 Dead in Xinjiang Province Clashes | 7/6/2009 | See Source »

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