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Hall's success in calling the oil market is what has led him to demand higher pay than most. In 2003, Hall had the belief that the price of oil would rise dramatically in the next few years. Back then, oil was trading at around $30 a barrel, and coming out of a recession few thought prices would rise anytime soon. So Hall bought so-called long-dated oil-futures contracts that would pay off if the price of oil topped $100 at some point in the next five years. Because Hall made a bet oil would reach a price...
...Measures like the U.S. Endangered Species Act, habitat-protecting nature reserves and hunting prohibitions are all designed to slow the rate of extinction and preserve dwindling species. But a new paper in the journal Biological Conservation says we may not be trying hard enough. A team of Australian researchers led by environmental scientist Lochran Traill finds that current conservation policy tends to underestimate the number of individuals needed in a population of endangered species to keep it viable. In the face of environmental fluctuation and potential disasters, says Traill, we need animal populations to number in the thousands for survival...
...caveat, of course - talk about tiresome - is the internal state of British politics. Britain must have an election by next May; it is highly likely that it will be won by a Conservative Party, led by David Cameron, in which Euroskepticism seems as firmly rooted as it was when Margaret Thatcher gave her famous speech in Bruges 21 years ago. Cameron, who has taken his party out of the center-right European parliamentary grouping, annoying German Chancellor Angela Merkel and French President Nicolas Sarkozy, has promised a referendum on Lisbon if the treaty is not ratified by all E.U. members...
Because the elections were so critical to political stability in Afghanistan - and, therefore, prospects for the U.S.-led military mission - the U.S. and its allies needed them to go smoothly. The U.N. Security Council tasked the U.N. mission in Afghanistan to support the IEC and other Afghan institutions in the conduct of "free, fair and transparent" elections. On two occasions, I started to take action that could have reduced the risk of fraud. In July, I learned that there were 1,500 polling centers (out of a total of 7,000) sited in places either controlled by the Taliban...
...society and culture (the '00s are the first decade without a living novelist featured on TIME's cover, he laments). Derbyshire's no fan of liberalism, but his main targets are the utopian fantasies of both parties and the notion that humanity can patch the flaws that led us to this woeful state to begin with. Embracing hard truths would better prepare us for the real world, he writes--and might have helped us avoid the mortgage meltdown to boot. The native Englishman's guiltily enjoyable diatribe makes keen arguments--why do Ivy League schools charge so much when their...