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...regardless of the intentions of politicians, subsidies and price controls tend to produce unintended consequences. They distort normal consumption patterns and subvert the law of supply and demand. When oil supplies are low and crude prices rise, consumption falls, bringing prices back down as demand and supply balance out. But if consumers are insulated from the market, paying an artificially low price for fuel, they tend to use as much or even more - which strains supplies further and forces oil prices even higher...

Author: /time Magazine | Title: Asia Hits an Oil Slick | 6/12/2008 | See Source »

...January 2007. (Over the same period, the price in the U.S. has jumped 77%.) Observers say China will probably stand pat at the pump until after the Beijing Olympic Games in August. That could keep Chinese happily burning the midnight oil - and keep global oil prices high, since growing demand from China has contributed significantly to crude's price run-up in the past few years, according to economists. It's too early to say, but the recent spike in oil prices could be another nail in the coffin in which Asia's sizzling economic run of the past several...

Author: /time Magazine | Title: Asia Hits an Oil Slick | 6/12/2008 | See Source »

MEERKAT MANOR star Rocket Dog killed in hit-and-run, the fourth death in two seasons. Remaining meerkats demand hazardous-duty...

Author: /time Magazine | Title: Pop Chart | 6/12/2008 | See Source »

...that the cost of raw materials alone should make it impossible to produce $1-a-watt panels profitably. "Of course they doubt it," he says. "Otherwise it makes a joke of their business models." Nanosolar's claims should become more transparent as the company scales up and either meets demand or fails to; in the past, it has suffered production delays...

Author: /time Magazine | Title: Solar Power's New Style | 6/12/2008 | See Source »

...initiatives. This month, however, Washington is rolling out America's first high-tech bike-sharing program. The so-called SmartBikes come with key-card locking systems and tracking devices to prevent theft. And officials are hoping the only problem this time around will be having enough supply to meet demand...

Author: /time Magazine | Title: Bike-Sharing Gets Smart | 6/12/2008 | See Source »

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