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...proven reserves and produces nearly 2 million bbl. daily, mainly from the Basra area in the south and Kirkuk and Kurdistan in the north. That's a sharp drop from about 2.8 million bbl. a day before the U.S. invasion in 2003 and an even steeper decline from a peak of about 3.7 million bbl. before the 1980 war with Iran. (From 100,000 to 300,000 bbl. a day are lost to smugglers.) The law would allow oil companies to explore hundreds of new oil fields under 10-year agreements and then 20-year production contracts in partnership with...

Author: /time Magazine | Title: Petro Showdown | 9/6/2007 | See Source »

...realistically generate. But for the first time in years, home prices have slipped enough in some regions for the math to work, including in Destin, Fla.; the Outer Banks of North Carolina; Branson, Mo.; and the Smoky Mountains, says Karpinski. Her rule of thumb: if one week of peak rental income can cover a month of mortgage expense, the deal is a winner. The trick is getting over your fears. With retirement facing all of us sooner or later, there's only so much time for that...

Author: /time Magazine | Title: Home Free | 9/6/2007 | See Source »

Pamela Larsen, 41, a mother of two young girls in Mt. Hood, Ore., gets a stomachache every time she looks up at the volcano nearby: the glaciers at its peak have definitely been receding over the years. As the mountainside gets browner and browner - evidence of climate change - the knot in Larsen's gut tightens...

Author: /time Magazine | Title: In Despair Over the Polar Bear | 8/17/2007 | See Source »

...becomes a star that adults without kids will know. Leesa Coble, the editor of Tiger Beat and Bop, thinks he's already phased out of her demo. "When people are on the cover of Rolling Stone and in People, that's sort of a sign for us that the peak has happened for our readers," she says. "You don't want to like what your parents like...

Author: /time Magazine | Title: How Zac Efron Became the Cutest Guy Ever | 8/16/2007 | See Source »

This no-show mentality couldn't come at a worse time for U.S. efforts in Iraq. With the surge at its peak and violence against troops declining, the crucial next step is political reconciliation under al-Maliki's government. But even when parliament convenes, votes are invariably along sectarian lines, with minority groups like the Sunnis routinely boycotting sessions or abstaining...

Author: /time Magazine | Title: World Spotlight: Iraqi Parliament Holiday | 8/9/2007 | See Source »

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