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...cash, but in crude - 300,000 barrels a day from the huge east Siberian oil field. That's about 4% of China's current total demand for crude, secured on very favorable terms. Over the 20-year life of the deal, Beijing will effectively be paying about $20 per barrel. Crude prices, which last summer peaked at more than $140 per barrel, now sit just above...

Author: /time Magazine | Title: Buying Binge | 3/5/2009 | See Source »

...miles (250 km) off the coast of Rio de Janeiro. The oil lies almost 3 miles (5 km) below sea level and is covered by a thick layer of salt, so extraction will be a massive undertaking. And while the discovery promised a windfall when oil was $140 per bbl., at today's price of $40, profitability will be a challenge. Nor is oil always the blessing that it appears; in nations from Nigeria to Saudi Arabia, its promise of easy money has crowded out other sectors of the economy, and fed corruption, too. But Lula, who keeps...

Author: /time Magazine | Title: The One Country That Might Avoid Recession Is... | 3/5/2009 | See Source »

...Caps or omission of services. Read your plan to check for limits on drug coverage or per-day hospital fees, which may leave you with bulging health-care bills...

Author: /time Magazine | Title: Are You Underinsured? | 3/5/2009 | See Source »

...good amount of our euphoria comes from bicycles’ perfect compatibility with a green lifestyle. Boston’s bike-sharing system is expected to replace 315,000 car trips per year, amounting to 750 tons of greenhouse emissions. In addition to making a real difference in pollution levels, however, over 6,000 additional bikes on the road would also change the way Bostonians think about the environment. As car commutes fall out of fashion, so will other energy-wasting activities, similar to the contagion of sustainability on the Harvard campus. To this end, Boston would do well...

Author: By The Crimson Staff | Title: A Bicycle Built for You | 3/5/2009 | See Source »

...Harvard student. It’s a blog. It’s about complaining about stuff. So far so good. But he pays people to write this stuff? For a website that was designed with Windows 95 and has no advertising to be paying as much as $10 per post to random people is unbelievable. Where does he get this money? And the posts are barely worth the energy your computer uses up while you read them...

Author: By Charleton A. Lamb | Title: A Rant on Rants | 3/5/2009 | See Source »

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