Word: crudeness
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...head trip. You could argue, in fact, that the IMAX Polar Express returns movies to their most primitive beginnings, when the simple act of realistically capturing motion on a screen--narrative subtlety be damned--was sufficient to thrill, enchant and totally involve an audience. By that crude standard, this film is an experience not to be missed. Or, perhaps, repeated. --By Richard Schickel
...windowsill of his Beijing office, affixed with labels like SAUDI SWEET. Yang, it turns out, works for the China National Offshore Oil Corp. (CNOOC) and is responsible for the state-owned company's efforts to secure oil and gas supplies all over the globe. The samples of crude are souvenirs that testify to how far he must roam in his search. "I'd like it if there was oil under Paris," he says, "but I spend my time in less comfortable places...
Today numerous factors are driving up the price of crude, from chaos in Iraq to turmoil in Nigeria to hurricanes in the Gulf of Mexico. "It is neither fair nor accurate to blame China for most of the rise in oil prices," says Jeffrey Logan of the Paris-based International Energy Agency. But China's impact should not be ignored. Even if China's blazing GDP growth of 9.1% in the first three quarters of this year (compared with the same period the previous year) slows to 8% in 2005, as the Chinese Academy of Social Sciences predicts, the country...
China has not always been so dependent on imported oil. The discovery in 1959 of the Daqing oil fields under the Manchurian grasslands meant that the once largely agrarian country was for decades able to produce more crude than it required, a circumstance that the government celebrated as a political victory. ("Study Daqing!" chanted legions of Red Guards during the 1966-76 Cultural Revolution.) Oil and gas discoveries in the South China Sea and the Bohai Gulf, where drilling began in 1979, made China seem all the more invulnerable to oil shocks, and the country remained an oil exporter until...
...since been traced, although the final destination of some of it is still unknown. Tanzi has admitted transferring some €500 million to family firms, but investigators tell Time that up to €1.3 billion may have gone this route. But one huge mystery remains: how could such a crude forgery have continued for so long, and on such a massive scale? For years, Parmalat dealt with the world's largest banks, its most sophisticated investors and its most reputable auditors. How did they miss the signals that the company was cheating? It's not an academic question: if Parmalat...