Word: dieselization
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...price spike may be softened by the fact that coal, not oil, generates most of China's electricity, somewhat shielding its factories from the effect of rising oil prices. The government also limits the impact of rising fuel costs by dictating the price of gasoline and diesel at the wholesale level each month. Wholesale gas prices in China are currently about 80% of what the market price is in, say, Singapore. But fixing prices at an artificially low level also has the less-desirable effect of cutting profits at China's major refiners?all of which are state-owned. Energy...
...meantime, governments in the region are scrambling to cope with the oil shock?risking popular ire in the process. Malaysia, a net exporter of oil, cut its subsidies on gasoline and diesel fuel by 7% and 23% respectively last week. Indonesia did the same in March, increasing the price of gasoline by 29%. In Thailand, Prime Minister Thaksin Shinawatra, who last year resisted pressure to eliminate fuel subsidies during an election year, reversed course this year as the oil bills mounted. On July 12 he announced the end of subsidies, which he hopes will curb demand for oil imports that...
...Beijing, too, the soaring price of oil and sporadic gas and diesel shortages are drawing the attention of the government, which has drafted plans to levy steep taxes on gas-guzzling cars and SUVs. The new taxes could add as much as 27% to sticker prices. As one of the world's growing gas hogs, China's conservation efforts matter enormously. But it will take time for such measures to have much impact?and until they do, China's neighbors may simply have to get used to oil at almost $70 a barrel. It's a painful prospect...
...hours savoring his just deserts. Into this familiar mold Scott and his screenwriters poured so much intelligence, such vigorous picturizing of military assaults and gladiatorial entertainments that this dormant genre was reborn. The fatal "games" Maximus fights in the Colosseum might be a modern extreme sport or a Vin Diesel melodrama reimagined as art. Superb acting certainly helps. Offscreen, Crowe may seem a lout; onscreen, he radiates the maturity of a strong, scarred man--a star suitable for epics past and epics to come. --By Richard Corliss
...repulsive trend, to be sure, but at least anyone with low-rise, bootcut jeans readily available could participate. It was a trend predicated on equality. In a world filled with Diesel, Armani Exchange, and FCUK, it was a breath of fresh...