Word: demanding
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Wall Street, suddenly, loves the plan. When Wynn Resorts went public in 2002, demand for shares was so soft that Wynn put up $150 million for the $13-a-share stock. Since then the stock has soared, closing at $53 last Friday. Much of that price is high expectation about his new Macau property, due in 2006, which is part of an influx of American casinos setting up shop there...
...prime-time news conference last week. But as Bush has acknowledged, lowering the price of oil isn't that easy. "You can't wave a magic wand," he said. Oil, unlike other products and services that are manufactured and sold, obeys the laws of geology, not just supply and demand. "You don't make more oil," says Sam Shelton, director of the Strategic Energy Initiative at Georgia Tech in Atlanta. The world has to work with what it has. TIME's Jyoti Thottam explains...
...peak," the point at which oil reserves are 50% depleted. That's because the remaining 50% gets increasingly harder and more expensive to extract. At some point in the next decade or so--estimates range from 15 to 25 years--the world's oil production will peak. Yet demand for oil will continue to rise, increasing 50% over the next 50 years...
...demand for oil rising...
...carry a cell phone all the time, but it's in use just a few minutes an hour. Why not turn it into a radio the rest of the time? That's the thinking behind MSpot, which offers 13 channels of on-demand radio through Sprint for $5.95 a month. There are eight channels of music (from pop to hip-hop and R&B), NPR, sports and weather. Founded by Daren Tsui and Edwin Ho, serial entrepreneurs with several successful start-ups, MSpot will soon be interactive, allowing you to buy an album (through Amazon.com or download a ringtone...