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Buried in the huge budget-reconciliation bill, on which House and Senate conferees are putting the final touches right now, are a few paragraphs that accomplish an extraordinary feat. They roll back the price of a barrel of crude oil to what it sold for two years ago. They create this pretend price for the benefit of a small group of the politically well connected. You still won't be able to buy gasoline for $1.73 per gal. as you did then, instead of today's $2.28. You still won't be able to buy home heating...

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

...mind in 1980 when it enacted the subsidy. The idea was to stimulate the birth of a new industry that would make synthetic fuel competitive with the price of conventional oil and gas. To achieve that end, lawmakers pegged the value of the credit to the 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...

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

...lecherousness grows stale rapidly. Upon further listening, Fatel begins to sound like a confessional sex offender moonlighting as an amateur comedian. Unless he grows as a performer—and unless his subject material grows with him—Fatel’s performance will always remain crude and one-dimensional. Ultimately, however, these faults should not necessarily dissuade people from picking up “Super Retardo”. Although repeat listeners may experience unquestionably diminishing returns, the first-timer will likely be brought to tears—provided he is of an appropriate age and sensibility. Of course...

Author: By Austin M. Litoff, CONTRIBUTING WRITER | Title: Mitch Fatel: Super Retardo | 2/25/2006 | See Source »

...soundscape, creating a space for him to confront directly the voices he is reacting against. Early in the album, “Illiterate Interlude” unleashes a barrage of the insults that had been directed at “Silence.” Herren plays the crude voices against a cacophony of violins; ultimately, the music wins out. And there are striking things to follow. The scope of most of these songs is grand; they encompass a world of moods, and each line can turn on a pin. Tender chords blend into spastic dance, fall into velvet strains...

Author: By Catherine L. Tung, CONTRIBUTING WRITER | Title: Security Screenings | 2/15/2006 | See Source »

...threat of a resurgent Iran, with its nuclear ambitions and its crude new President, Mahmoud Ahmadinejad, has concentrated the minds of both Western diplomats and Middle Eastern Sunni governments. Suddenly the prospect of a permanent Iraqi government dominated by Iran-friendly religious Shi'ites seems a more pressing problem. "If the negotiations in Iraq do not yield a government acceptable to Sunnis," the Middle Eastern diplomat told me, "we could be looking at a civil war that becomes a regional conflict...

Author: /time Magazine | Title: Will Someone Please Lend This Guy a Hand? | 2/11/2006 | See Source »

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