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...deliver the gas to fueling stations around the country. But to make plug-ins a truly viable alternative - one that could kill petroleum - we will need to make changes to the way we supply and use electricity, both small and large. "Electricity is everywhere and it is extremely low cost," says Mark Duvall, program manager for electric transport at the Electric Power Research Institute. "But we have to take into account the ways that drivers will want to use electricity...

Author: /time Magazine | Title: Is America Ready to Drive Electric? | 9/16/2008 | See Source »

...could lead to total chaos. The biggest fears had to do with the credit-default swaps, which AIG appears to have sold in large quantities to practically every financial institution of significance on the planet. RBC Capital Markets analyst Hank Calenti estimated Tuesday that AIG's failure would cost its swap counterparties $180 billion...

Author: /time Magazine | Title: Why the Government Wouldn't Let AIG Fail | 9/16/2008 | See Source »

...Lewitt in Tuesday morning's New York Times. There's also the fact that through its insurance policies AIG touches far more regular Americans (and consumers around the world) than Lehman Brothers did. Plus, AIG's insurance businesses make so much money that they could conceivably pay off the cost of the bailout within a few years...

Author: /time Magazine | Title: Why the Government Wouldn't Let AIG Fail | 9/16/2008 | See Source »

California's largest publicly owned utility filed for bankruptcy after deregulation led the company to incur billions of dollars in debt from the rising cost of wholesale energy. Wholesale prices eventually dropped, and the day the company emerged from bankruptcy in 2004, its stock was worth three times as much as when it filed for protection...

Author: /time Magazine | Title: Pacific Gas & Electric Company | 9/15/2008 | See Source »

...essay "Consider the Lobster," that if a crustacean is trying to claw its way out of a pot of boiling water, you are cold-blooded murderer when you eat it. In the 150th anniversary issue of The Atlantic last year, he nihilistically stated an unpopular truth about liberty: The cost of freedom is that you have to occasionally let 3,000 people die in terrorist attacks. His 1999 collection of short stories, Brief Interviews With Hideous Men - which John Krasinski has adapted into a movie to be released later this year - damns his gender as a greedy, cold, oversexed marauders...

Author: /time Magazine | Title: Appreciation: David Foster Wallace 1962-2008 | 9/14/2008 | See Source »

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