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While speculators affect the market in both directions, commercial participants tend to put upward pressure on prices. If airlines fully hedged themselves in the futures market, the price of oil would jump enormously. The futures market cannot support hedging for energy, let alone for other things; for example, investors might...

Author: /time Magazine | Title: Why There Should Be More Oil Speculation, Not Less | 7/10/2009 | See Source »

And then there are the unsettling vignettes that have further tested the already strained relationship in recent years, such as when the late French Ambassador to the U.K. Daniel Bernard referred to Israel as that “shitty little country,” when eyebrows were raised in the...

Author: By James K. Mcauley | Title: Dear Israel, Listen to France | 7/10/2009 | See Source »

On the streets of Urumqi there are many different views of why racial violence exploded this week. Some support the official explanation that forces at home and abroad plotting to split the western region of Xinjiang from China encouraged minority Uighurs to riot. Others say that discrimination of the Muslim...

Author: /time Magazine | Title: Quiet Returns to Urumqi, but Tensions Remain | 7/10/2009 | See Source »

Uighur residents also fear further hostility. "There will be more conflict in the future," says a 25-year-old Uighur man sitting by a mosque in the Nanmen district, where the southern Uighur district abuts Urumqi's downtown. "Everyone has seen the images of Uighur attacking Han, but no one...

Author: /time Magazine | Title: Quiet Returns to Urumqi, but Tensions Remain | 7/10/2009 | See Source »

Still, that legacy could come undone if the pressing domestic problems of infrastructure, poverty, bureaucratic reform and corruption are not dealt with promptly. While most agree the latest elections further solidify democratization, others warn that the country's authoritarian past cannot be forgotten. "We are going back to a one...

Author: /time Magazine | Title: What Indonesia's President Needs to Do | 7/9/2009 | See Source »

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