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What exactly did the panel recommend? The FDA advisory panel, made up of scientists, doctors and consumer representatives, voted to make four major changes in the way acetaminophen is dispensed and packaged. First, it voted 21 to 6 in favor of lowering the maximum daily dose of nonprescription acetaminophen for adults, which is currently set at 4,000 mg; the panel did not specify a new maximum dosage. Second, the committee voted 24 to 13 to reduce the maximum single adult daily dose to 650 mg from the current maximum of 1,000 mg, or the equivalent of two tablets...

Author: /time Magazine | Title: The FDA and Painkillers: What's Safe Now? | 7/3/2009 | See Source »

...Iraq remains enormously tantalizing for Big Oil, whose prospects for tapping huge new fields around the world are shrinking. The country's 115 billion barrels in proven reserves, most of it untapped, make it perhaps the last major oil territory yet to be spoken for. Engineers recently estimated that there may even be a further 150 billion barrels underground that have not yet been surveyed, much of it in the vast Western Desert. If true, Iraq could one day potentially match Saudi Arabia, whose output of 9.6 million barrels a day makes it the world's largest producer. Iraq currently...

Author: /time Magazine | Title: The Reasons Behind Big Oil Declining Iraq's Riches | 7/2/2009 | See Source »

...Presented with an opportunity this week to claim that foothold, however, most major oil companies were unwilling to commit. The need for military style security and expansive insurance in light of ongoing terror attacks would require foreign investors to add millions to the cost of operating in Iraq. Massive capital investment is required to develop the industry's capacity in Iraq, and militant trade unions that have flexed their muscles through strikes in recent years - and which bitterly oppose foreign oil companies taking charge of developing Iraq's fields - add to the headache facing potential investors...

Author: /time Magazine | Title: The Reasons Behind Big Oil Declining Iraq's Riches | 7/2/2009 | See Source »

...Until now, major oil companies such as Chevron and ExxonMobil have stayed out of investing in the Kurdish zone for fear that investing there might prompt Baghdad to blacklist them from bidding for the far larger fields down South. But those fears have diminished as the stalemate in parliament over oil has dragged on. Big Oil might also be emboldened to make deals on oil fields in the Kurdish areas since last week, when the Chinese oil giant Sinopec announced that it was acquiring the Swiss oil company Addax Petroleum, which operates in Iraqi Kurdistan. "It will be much more...

Author: /time Magazine | Title: The Reasons Behind Big Oil Declining Iraq's Riches | 7/2/2009 | See Source »

...nuclear program while the bad cop, the U.S., rasped that Tehran was part of an "axis of evil." But the European Union's moderating stance has done it few favors in the wake of last month's disputed Iranian elections. On Wednesday, Iran's military chief of staff, Major General Hassan Firouz-Abadi, accused the E.U. of "interference in the postelection riots." He said that, as a result, the E.U. had "lost its qualification" to hold talks on Iran's controversial nuclear program, and he demanded an apology for its "huge mistakes...

Author: /time Magazine | Title: How Should Europe Respond to Iran? | 7/2/2009 | See Source »

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