Word: oiled
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...result - a deflationary bust - is evident everywhere. On Thursday morning crude-oil prices - as good a barometer as any for global economic activity - plunged below $50 a barrel. In July crude peaked...
...cargo ship, the Delight, in the Gulf of Aden. According the International Maritime Bureau (IMB), the Delight, which is now bearing toward Somalia, joins 17 other ships currently being held by pirates. This week has been particularly successful for piracy: Last weekend buccaneers captured a Japanese-operated chemical and oil tanker as well as a Saudi supertanker, which holds roughly $100 million worth of oil and is three times the size of an aircraft carrier. And let’s not forget the Ukrainian cargo ship, the Faina, which was captured in September while carrying $30 million of weapons...
...have been left largely unimpressed by Detroit's cries for help. All week long, Senators and Representatives from both parties have lamented the decades of bad management that have put the auto industry in its current predicament: investing in SUVs when the rest of the world, eyeing the future oil crunch, was betting on smaller, more fuel-efficient cars; spending millions lobbying Congress to avoid regulation that would force tougher environmental standards; and giving its union unsustainably generous deals on salary and benefits that hobbled its ability to compete with Japanese and European carmakers. And the answers to these criticisms...
...When Waxman decided to make a bid for Dingell's chairmanship, his supporters argued that Dingell would be an obstacle to Obama's efforts to wean Detroit - and the country - off its dependence on oil. Dingell's supporters, who included a number of other committee chairmen, expressed concern that Waxman would not be sensitive enough to the need to protect jobs as the country goes through that transition. Dingell's ouster also comes as the big automakers are foundering in their bid for a $25 billion bailout, another measure of the industry's declining power on Capitol Hill...
...capital's northern outskirts, where 700 families work on sorting and preparing it for a second life. The yards of Dongxiaokou are filled with stacks of old radiators, piles of cardboard, old tires and inner tubes, mounds of glass smashed into tiny shards, nests of tangled rebar and cooking-oil jugs looped together with string. A mountain of plastic bottles more than two stories tall looms over the squat brick buildings where recyclers live and work. "Somewhere in there is a bottle you used," says a woman as she sits at the edge of the pile, rapidly grabbing bottle after...