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Soon after the first long-distance pipelines were laid in the Northeast in the late 1870s and early 1880s, the first oil tankers were allowed to pass through the Suez Canal, and the modern shipping system was born. Today crude oil travels in tankers that can carry up to 4 million bbl. With daily world demand at about 85 million bbl., petroleum represents about a third of all international cargo. And even though the commodity is also measured in kiloliters (in Japan) and metric tons (in Russia), thanks to whiskey, the units are always converted to the 42-gal. barrel...

Author: /time Magazine | Title: The Oil Barrel | 8/26/2009 | See Source »

...seen at this year's parties, but prosecco flowed freely. One of the best selections of Venice's native drink - prosecco grapes are mainly grown in Veneto - minus the art-world pretension or tourist-trap prices, can be found at Timon, tel: (39-41) 524 6066, a decidedly laid-back bar where patrons can dangle their feet over the canal out front...

Author: /time Magazine | Title: The Venice Biennale | 8/26/2009 | See Source »

...then, of course, there is the time spent, whose dollar figure is incalculable, though one study says it's worth more than the cash laid out. Parenthood means never really being alone, until the day the kids leave home and you're left with no idea what to do with all the time and energy you used to spend chasing after them. Maybe I'll finally learn to knit. Or cook something with more than three ingredients. Or slide the years of accumulated photographs into fresh, matching albums, the images incubating as memory to hatch as history...

Author: /time Magazine | Title: Raising a Child Costs Some $221,000, Before College | 8/24/2009 | See Source »

...bound to change is the relationship between the sexes. Since the recession began in December 2007, the vast majority of the lost jobs have belonged to men. About half are in the heavily male domains of construction and manufacturing. At one point last winter, there were four men being laid off for every woman. The male unemployment rate is 9.8%, the female rate 7.5%. What constitutes "women's work" today? Well, health care, for one; 81% of the workers are female. According to the report Obama cited, 20,000 health-care jobs were gained in July, while 76,000 construction...

Author: /time Magazine | Title: The Pink Recovery: Why Women Are Doing Better | 8/24/2009 | See Source »

...levels for the university by 20 percent, or $813 million, as it scrambled to close a looming $26 billion budget gap. Lapp and her team put together a plan that would allow the university to absorb the impact of the funding shortage. Administrators raised student fees by 9.3 percent, laid off more than 700 staff, and implemented a furlough and salary reduction plan. Under Lapp's leadership, the university also eliminated or consolidated services that resulted in nearly $100 million in savings. "These were really tough choices," Lapp said of the measures. "But these are challenges that are not unique...

Author: By June Q. Wu, CRIMSON STAFF WRITER | Title: Harvard Fills Vacated Executive VP Position | 8/20/2009 | See Source »

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