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...other way. Even five years ago, there was still a large gap between global demand and refining capacity. Since then, the massive surge in oil consumption - driven mainly by China and India - has taken the industry by surprise and left the global economy vulnerable. Is there an easy fix? Obviously, building new refineries is one answer. French Finance Minister Thierry Breton last week told oil companies to come up with structural plans (including new refining initiatives) to lower oil prices or risk a windfall tax. With oil at $63 per bbl. and oil-company profits at record highs...

Author: /time Magazine | Title: Refining the Problem | 9/18/2005 | See Source »

TIME Is there anything about it that annoys you, that makes you think, I must tell my staff to fix this...

Author: /time Magazine | Title: CEO Talks: Katsuaki Watanabe: Toyota's Tough Boss | 9/18/2005 | See Source »

...fix works. But the TV business is hoping for a much bigger fix from Chris and Earl, the two funniest new shows of the fall. NBC began two decades of sitcom dominance with The Cosby Show. Last year--when, among other disappointments, Joey lost much of the Friends audience--it fell from first to fourth place in key advertising demographics. "You can't ignore that the stakes are high for NBC for this show," says Earl creator Greg Garcia. "They're excited because they need something to work." UPN, meanwhile, has unsubtly telegraphed its hopes for Chris. It will...

Author: /time Magazine | Title: A Tale of Two Sitcoms | 9/17/2005 | See Source »

...decided they could make it better. On the face of it, that wouldn't appear to be a fantastically smart decision. The iPod Mini was and still is the best-selling MP3 player in the world, and Apple had introduced it only 11 months earlier. Jobs was proposing to fix something that decidedly was not broken. "Not very many companies are bold enough to shoot their best-selling product at the peak of its popularity," Gartner analyst Van Baker says. "That's what Apple just did." And it did that while staring right down the barrels of the holiday retail...

Author: /time Magazine | Title: Stevie's Little Wonder | 9/12/2005 | See Source »

...delivered 13.6 million meals, handed out 24.2 million liters of water, launched 24 ships and deployed more search-and-rescue helicopters than are now flying in Afghanistan and Iraq combined. "Normally," he says, referring to the military, "we go in and break things. Here we're trying to fix things...

Author: /time Magazine | Title: Just Stay Out Of His Way | 9/12/2005 | See Source »

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