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...months now, the only silver lining for many amid the gathering economic gloom has been the pleasant sensation of filling their cars with ever cheaper gasoline. But that relief at the gas pump has slashed the revenues of the oil-producing countries, and on Wednesday they pushed back when the 11 oil ministers of the Opec cartel agreed to cut their combined output by about 2.2 million barrels a day starting January 1. The biggest production cut in Opec's 48-year history is an emergency measure aimed at reversing the precipitous slide in world oil prices, which the cartel...

Author: /time Magazine | Title: OPEC Cuts Production in Effort to Reverse Price Slide | 12/17/2008 | See Source »

...coordinating the Administration's work on climate change across departments - a necessary post, since global warming touches on science, the economy and politics at home and abroad. All three appointees are charged with one of the most important items on Obama's agenda: getting the U.S. off imported oil and other carbon-rich fuels. "The pursuit of a new energy economy requires a sustained, all-hands-on-deck effort," Obama said. "This time will be different. This time we cannot fail." (Read "Sewage That's Clean Enough to Drink...

Author: /time Magazine | Title: High Hopes for Obama's Green Dream Team | 12/16/2008 | See Source »

...former Secretary of the Interior James G. Watt and many members of the Bush administration, “who have been opposed to good stewardship for the environment,” he said. Page also said he was worried that with the impending economic crisis and the drop in oil prices, “the government will not move as fast as possible” to reduce carbon emissions. “This has to go ahead regardless,” he said. Lyman Antolini expressed similar sentiments in her Nov. 30 sermon at St. James Episcopal Church...

Author: By Mac Mcanulty, CRIMSON STAFF WRITER | Title: Church Bells Go Green | 12/15/2008 | See Source »

...Indonesia, which has a weak government and endemic poverty and also happens to abut another primary sea route, was the world's worst piracy hotspot for a decade, until a couple of years ago, when it was overtaken by Nigeria, which has little law but plenty of poverty and oil platforms...

Author: /time Magazine | Title: Analysis: To Beat Somalia's Pirates, Fix Their Country | 12/15/2008 | See Source »

...Republic of Congo. Angola is now stable, if horribly corrupt; Congo is still at war, but the Chinese investment there has just begun, and the country at least now has an incentive for peace. China, of course, gets a good return on its investment. Angola is now its leading oil supplier globally, while Congo is opening up its mineral riches in return for new roads, railways, hospitals and universities from Beijing. Then again, as the Somali pirates have demonstrated, it often takes an injection of self-interest for the world to want...

Author: /time Magazine | Title: Analysis: To Beat Somalia's Pirates, Fix Their Country | 12/15/2008 | See Source »

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