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...social programs. Angolan officials this month told OPEC they needed an exemption from their quota of 1.5 million bbl. a day, since companies like Chevron and Total have invested billions in drilling off Angola's coast, and the country - most of whose people live in dire poverty - could potentially pump about 2.3 million bbl. a day by year's end. "They argue that they are a war-torn country, like Iraq, and need to rebuild the country," Morse says. "OPEC swept the problem under the table, because, after all, why deal with it when...

Author: /time Magazine | Title: Oil Prices Stabilize; Can OPEC Keep Them That Way? | 9/11/2009 | See Source »

...Treasury Secretary while the financial crisis started to unfold in early 2007 up until January 2009. For instance, in the week after Paulson allowed Lehman Brothers to collapse into bankruptcy last Sept. 15 - and while the Secretary was playing a major role in deciding whether to pump $85 billion into the rescue of insurance behemoth AIG - Paulson and Blankfein spoke 24 times. On one level it makes sense: a Treasury official discussing a financial crisis with a trusted expert and industry leader. A mention in a call log is not the same as an actual conversation, Blankfein correctly points...

Author: /time Magazine | Title: The Rage Over Goldman Sachs | 8/31/2009 | See Source »

...Administration may think that a gasoline embargo, even a partial one, would pressure the Iranian regime to suspend its nuclear activities, Tehran may be hoping for just that sanction to help it with one of its longtime goals: reducing gasoline consumption. Indeed, the Iranian government, which has been subsidizing pump prices for years and keeping them well below the international market price (at a huge burden to the national budget), would love the U.S. to take the political hit for helping to end the subsidies...

Author: /time Magazine | Title: Pressuring Iran on Nukes: Would a Gas Embargo Help? | 8/31/2009 | See Source »

...discussed in Iran's parliament to further limit the rationed amount, and would gain extra heft if any serious moves by the U.S. on a gasoline embargo start to occur. Of course, if that happens, Iran's government can easily blame the U.S. for future price increases at the pump. (Read "How Iran Might Beat Future Sanctions: The China Card...

Author: /time Magazine | Title: Pressuring Iran on Nukes: Would a Gas Embargo Help? | 8/31/2009 | See Source »

...anniversaries, such as Woodstock's, will often pump up prices. However, death is the most powerful aphrodisiac as it tends to bring out emotional buying by diehard fans, which can mean a windfall for sellers...

Author: /time Magazine | Title: Michael Jackson, Woodstock Spark Surge In Memorabilia | 8/23/2009 | See Source »

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