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...Since an oil supplier has more freedom than an oil hedger - after all, a supplier sits on oil with no rush to sell it, as a hedger attempts to curb real risk - a supplier can squeeze prices higher by refusing to sell on the futures market. The supplier would sell oil just through private deals, whose prices are determined by the futures market - and not the other way around. This catch-22 represents the systemic flaw in the global oil market...

Author: /time Magazine | Title: Why There Should Be More Oil Speculation, Not Less | 7/10/2009 | See Source »

...life movement, this cheerful mother of a Down-syndrome baby is a rousing affirmation. For the gun-rights movement, she's a glamorous, moose-hunting shot of adrenaline. She hates on the media, never forgets the troops and is a walking middle finger to the BosNYWash élite. As Rush Limbaugh interrupted his vacation to declare, "She is going to continue to fire up people in the conservative Republican base as often as she speaks to them." (Read "Sarah: The Palin Biography...

Author: /time Magazine | Title: The Outsider: Where Is Sarah Palin Going Next? | 7/9/2009 | See Source »

...Some analysts believe that a bigger problem may be consumer panic. Drivers, who on average have one-third of their tank filled, could rush out to fill their tanks, effectively tripling the demand for gas. That alone would send oil prices soaring. So, too, would speculation by investors who predict a drop in supplies. "Prices will rise, and people will buy futures," says Drollas. "Traders will buy because they are worried about their supplies." All that could send market prices rocketing - and deepen the global recession. It remains to be seen whether the market remains calmed by Obama's reassurances...

Author: /time Magazine | Title: Oil Shocks: Biden, Iran and Fears of Another Price Jump | 7/7/2009 | See Source »

...largely because - as is usual with issues considered sensitive by the authorities - major Chinese websites have removed or shut down readers' comments, a traditional channel for the Chinese to weigh in on current affairs. On mitbbs.cn, a popular online chat room frequented by overseas Chinese, responses reflect a rush of nationalism. "We must spare no violence to unify our nation," writes one netizen named "welltwo." "I support tough military crackdown," says another. "They [the rioters] deserve no explanation." Meanwhile, news about an information lockdown in Xinjiang has been widely spread and criticized on the microblogging service Twitter...

Author: /time Magazine | Title: China: At Least 140 Dead in Xinjiang Province Clashes | 7/6/2009 | See Source »

Limbaugh, Rush •meaningless fact that Michael Jackson "died during the era of the first black president" is hammered away at by as if it proved anything other than the utter cretinousness...

Author: /time Magazine | Title: This Preposterous Week! Paul Slansky's News Index | 7/3/2009 | See Source »

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