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...Currently, with virtually no regulation, the oil-futures market - given that it drives the price of oil worldwide - is very small. Dangerously small. To limit trading would make it smaller still. If the government decides to curb trading in the oil-futures market, it would limit trading by purely financial speculators. Instead, the government should focus on trade activity by oil companies, oil suppliers and oil hedgers like airlines. Yes, you read correctly: oil traders with physical ties to crude represent the greatest threat for another price hike...

Author: /time Magazine | Title: Why There Should Be More Oil Speculation, Not Less | 7/10/2009 | See Source »

...Since an oil supplier has more freedom than an oil hedger - after all, a supplier sits on oil with no rush to sell it, as a hedger attempts to curb real risk - a supplier can squeeze prices higher by refusing to sell on the futures market. The supplier would sell oil just through private deals, whose prices are determined by the futures market - and not the other way around. This catch-22 represents the systemic flaw in the global oil market...

Author: /time Magazine | Title: Why There Should Be More Oil Speculation, Not Less | 7/10/2009 | See Source »

...continuing to look for ways to curb drunk driving, MADD is emphasizing its negative economic impact. MADD estimates that drunk driving now accounts for 18% of the nation's auto-insurance bill and 20% of all emergency-room costs that are never reimbursed, as well as 16% of all probation costs and 6% of all jail cells used...

Author: /time Magazine | Title: Coming Soon: A Breathalyzer in Every Car? | 7/1/2009 | See Source »

...comes from Boris' splenetic vigor: his misery is good company. He's an artist of invective--and in this year's movie gallery of mean old men, a chattier cousin of the widower in Pixar's Up. Credit Boris' vitality to David, resident curmudgeon on HBO's Curb Your Enthusiasm. Boris isn't far from roles Allen has written for himself, yet sentiments that sound whiny when Allen articulates them have a robust manliness in David's voice. Rancor is the medicine that keeps Boris alive. It makes him the ideal foil for Melody's cheerful resilience (which Wood winningly...

Author: /time Magazine | Title: Woody Allen's Latest: Works Like a Charm | 6/29/2009 | See Source »

...while he read Psalms, sang hymns, put money in the collection plate or took communion," he writes in America's First Families. "By the 1920s, getting a presidential family in and out of church was a production. Secret Service agents had to cordon off a clear path from the curb to the church entrance before the Coolidges arrived ... [and] they were swiftly escorted to their third...

Author: /time Magazine | Title: The Obamas Find a Church Home — Away from Home | 6/29/2009 | See Source »

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