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...curb the growth of trusts, the huge enterprises that gathered together smaller companies to form near monopolies. Oil, steel, rubber, copper--one after another, the major sectors of the U.S. economy were becoming dominated by behemoths like John D. Rockefeller's Standard Oil, which marketed 84% of all the petroleum products in the U.S. As large companies gobbled up smaller ones, McKinley did nothing to spoil the feeding frenzy, though it often meant higher prices and lower wages. The Sherman Antitrust Act, passed in 1890, was a feeble weapon to begin with--the Supreme Court had restricted how it could...

Author: /time Magazine | Title: Fighting the Fat Cats | 6/25/2006 | See Source »

Events were being monitored by the hour inside the CIA. "Owning Iraq," a country in confusion, with its oil wells shut down, was one matter. The overthrow of Saudi Arabia - the true nexus of oil and Allah, producer of 25% of the world's exported petroleum and, by some U.S. estimates, nearly all of the world's most far-reaching terrorism - was entirely another. At a 5 p.m. meeting in mid-May, the CIA's top management huddled. Tenet, that morning, had been grilled by Cheney about the status of the CIA's investigation of the reputed mubtakkar cell...

Author: /time Magazine | Title: The Untold Story of al-Qaeda's Plot to Attack the Subway | 6/19/2006 | See Source »

...into that rotten meat. There is no getting away from that. It's a licorice that these power children really cannot stop themselves licking. I am convinced that Nigeria would have been a more highly developed country without the oil. I wished we'd never smelled the fumes of petroleum. You spoke today to teenagers in Berlin about the wisdom of your grandfather, who told you never to run from a fight. Is there a reason why you chose to speak on this topic in Europe today? It is a parable. Definitely I had in mind what is happening...

Author: /time Magazine | Title: 10 Questions for Wole Soyinka | 6/18/2006 | See Source »

...year on high-calorie grain. Until then, cattle grazed on grass their full lives--as they still mostly do in Europe, South America, New Zealand and other beef-producing nations. The new U.S. system grew thanks to vast surpluses of government-subsidized corn and soybeans, produced with modern petroleum-based fertilizers. Traditionally, steers had taken three to four years to fatten on pasture. Today they grow to slaughter size in less than two years--an efficient industrial process that has transformed beef from a luxury meal into a cheap fast food...

Author: /time Magazine | Title: The Grass-Fed Revolution | 6/11/2006 | See Source »

...native foods near his Arizona home. Soon some 60 bloggers had joined the 100-mile diet, inaugurating their own website, EatLocalChallenge.com This year they upped the ante, moving the test to the less bounteous month of May. "With gas prices spiking, people are concerned about our dependence on petroleum," says Locavores co-founder Jessica Prentice. "Why import apples from New Zealand when we can grow them nearby...

Author: /time Magazine | Title: Local-Food Movement: The Lure of the 100-Mile Diet | 6/11/2006 | See Source »

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