Word: traded
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Dates: during 2000-2009
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...obligated to follow production quotas, including the sharp cuts voted on last December, which helped to double world oil prices within a few months (only Iraq is exempted, because of the war there). OPEC quotas are crucial to propping up world oil prices; without them, oil futures would currently trade at between $25 and $30 a bbl., according to Edward Morse, head of economic research at Lewis Capital Markets in New York. But in reality, some OPEC leaders simply ignore their quotas, because they need every penny they can earn from oil. Among the bad boys: Venezuelan President Hugo...
...volatile prices, and some financial analysts agree. "It is market psychology which is propping up prices," Morse says. If investors believe that the recession is near an end and that demand will soar, they could pour money into oil futures and drive up world prices. The Commodity Futures Trading Commission in Washington is weighing new rules that would limit how much money a hedge fund or investor can trade in oil (or any other commodity). In an article in the Wall Street Journal in July, British Prime Minister Gordon Brown and French President Nicolas Sarkozy appealed for new limits...
...There is also much room for outside support in new and innovative ways. SEWA’s commercial branch, the Trade Facilitation Center, employs women to do fine embroidery work on clothing and upholstery products, which are then sold to high-paying markets and the profits are channeled back to the women. The Alba Collective teamed up with this fair-trade endeavor and is now trying to attract high-end, western designers to buy SEWA products. The profits would go directly back to the women artisans...
...failings from the inquiry. Farmer uses newly released transcripts and recordings to cast doubt on the official version of events and show that the U.S. government was struggling to figure out which planes were hijacked and where they were going, even hours after the initial plane hit the World Trade Center. He spoke with TIME about the attacks and how to improve the U.S. response in a crisis. (See pictures of the challenge of memorializing 9/11...
...central problem, explains Doug Brooks, president of the International Peace Operations Association, a trade association, is "the tendency of the U.S. government to go for the lowest bidder no matter what, and the result is that even the better companies end up cutting their contracts to the bones, and as a result these problems are more frequent than you'd like." Although currently there is no law requiring the government to take the lowest bidder - though there is draft legislation to make it so - bureaucrats tend to favor the low bids so as to avoid being called up to Capitol...