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...hard to see how. Earlier studies exposed corn ethanol as a carbon catastrophe; the EPA had to use extremely generous assumptions to produce scenarios in which it's even remotely attractive as a fuel alternative. In any case, the heavily subsidized corn-ethanol industries won't really be penalized for promoting deforestation and accelerating global warming; Congress exempted its existing plants from any consequences in the 2007 law requiring the stress tests. At her May 5 news conference with Energy Secretary Steven Chu and Agriculture Secretary Tom Vilsack, Jackson suggested this was a good thing, because corn ethanol...

Author: /time Magazine | Title: Stress-Testing Biofuels: How the Game Was Rigged | 5/12/2009 | See Source »

...clunkers' program that is supported by a broad coalition of auto dealers, trade unions, finance companies and auto manufacturers. The nearly completed bill, which President Obama has indicated he will sign, offers consumers credits of $3,500 to $4,500 to trade in old vehicles for new, more fuel-efficient cars. The incentive is expected to cost the government $4 billion and to boost sales of new vehicles by one million units. "We believe this will play an important role in driving demand and stimulating sales," says Ray Young, GM's chief financial officer. (Read "My $4,500 Lemon: Taking...

Author: /time Magazine | Title: Adding Up the Auto Bailout: $80 Billion and Growing | 5/11/2009 | See Source »

...Almost lost amidst all the headlines about crisis aid to the automakers, the U.S. Department of Energy is now preparing to release $25 billion in loans appropriated last autumn to speed up the transition to more fuel efficient vehicles. The cash is supposed to be used for specific projects that increase fuel economy. Ford, for example, has applied to use some of the federal cash to convert an assembly plant in suburban Detroit from building trucks to building small cars and electric vehicles. The project costs $550 million and Ford hopes to use some of the DOE cash. GM, Chrysler...

Author: /time Magazine | Title: Adding Up the Auto Bailout: $80 Billion and Growing | 5/11/2009 | See Source »

...widening gap between itself and South Korea, a calamitous public-health situation and a military that gobbles up the greater part of the budget. On top of all that, North Korea no longer can count on its Chinese and Russian partners for security, and not always for food and fuel...

Author: /time Magazine | Title: Why North Korea is So Crazy | 5/11/2009 | See Source »

...ongoing Israeli occupation of the Palestinian territories has also helped fuel the rise of Islamic extremism, especially in countries that have unpopular peace agreements with Israel. In Egypt, the Muslim Brotherhood, the main opposition to the American-backed Mubarak dictatorship, waged a small-scale terror campaign against both the government and the country's Coptic Christians during the 1990s. Since then, in an effort to derail the Islamist movement, the secular Mubarak regime has embraced some of its opponents' religiosity, and perhaps some of their anti-Coptic prejudice. Last month, in a supposed measure to prevent the spread...

Author: /time Magazine | Title: Why Mideast Christians Are Wary of Pope Benedict's Visit | 5/11/2009 | See Source »

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