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...futures market is tiny compared with the physical oil market: less than 3% of the world's oil consumption over the next year is accounted for in the open interest - the contracts currently being traded - at the New York Mercantile Exchange (NYMEX). To put it in perspective, Saudi Arabia alone produces four times that much oil. Consider the leverage that the futures market allows - you can trade more than 10 times your money in oil - and suddenly every dollar you put into the futures market controls well over $300 worth of oil. We can put a price...

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

...Council, said that Spoering is “always smiling and very approachable.” Britt recalled that one time, he e-mailed Spoering the night before cross-registration paperwork was due for courses at the Kennedy and Divinity Schools, and Spoering worked with him very early the next morning to meet the deadline...

Author: By Molly M. Strauss, CRIMSON STAFF WRITER | Title: Lowell House Resident Dean Departs | 7/10/2009 | See Source »

...bolster the state's transportation network and stave off planned toll increases on the Massachusetts Turnpike. While another $160 million will be allocated to the Massachusetts Bay Transportation Authority, the agency recently announced that it will also recommend a package of subway fare hikes to be implemented in the next few months that would raise $69 million a year. The combined tax increases are expected to raise over $1 billion in revenue for the state each year...

Author: By Ellie Reilly, CRIMSON STAFF WRITER | Title: State Sales Tax Hike Unnerves Some Square Businesses | 7/10/2009 | See Source »

...humans, however, is still slight compared with the eco-damage the invasive serpents can wreak. Officials, for example, fear pythons may be on the brink of wiping out what remains of the endangered Key Largo wood rat and that other South Florida animals like the Key Deer could be next. The Everglades are estimated to contain as many as 150,000 pythons now, preying on rare bird and mammal wildlife. "If we don't get on top of this, they're going to eradicate the indigenous species of the Everglades," Rodney Barreto, Florida's Fish and Wildlife Conservation Commission chairman...

Author: /time Magazine | Title: Florida Wrestles with Its Python Problem | 7/10/2009 | See Source »

...what specifically are French voyagers faulted for? The Expedia poll says French travelers are the biggest skinflints, the worst tippers and the least able or inclined to speak foreign languages. They also finished next to last in terms of their politeness and behavior. (The worst offenders in both those categories were - wait for it - Americans, who were also designated most likely to complain...

Author: /time Magazine | Title: French Tourists: Still the World's Worst | 7/10/2009 | See Source »

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