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...Recognizing that their bill was just an opening gambit, the two House Democrats notably left open one of the most controversial questions: whether, under a carbon cap-and-trade system, to auction off pollution credits to companies, as Obama's plan would do with 100% of them, or to give away some or all at no cost. If even a portion of the credits are auctioned off, the scheme could produce hundreds of billions of dollars in revenues, since almost every big company in America would need to buy the credits to initially comply with the more stringent standards...

Author: /time Magazine | Title: Congress Launches Opening Gambits on Global Warming | 4/1/2009 | See Source »

...Congress is currently considering a law to end this sordid trade. The Captive Primate Safety Act, approved by the House of Representatives in the wake of Travis’s attack, is now awaiting a vote in the Senate. It would prohibit the interstate transport of primates and should be swiftly approved...

Author: By Lewis A. Bollard | Title: The Chimp Charade | 3/31/2009 | See Source »

...billboard has gone up just below Dubai's World Trade Center. It features images of Dubai's more recognizable landmarks, like the sail-shaped Burj al-Arab hotel and Burj Dubai, the world's tallest building. They are all adornments for the subject of the billboard: Dubai's leader, Sheik Mohammed bin Rashid al-Maktoum. The sheik has been rumored to have suffered significant health problems from the strain brought on by the emirate's economic woes. The billboard is meant to belie those rumors; it shows the sheik, 59, looking sharp, vibrant and healthier than ever. Behind his picture...

Author: /time Magazine | Title: Dumping on Dubai: Have Hard Times Hit the Emirates? | 3/31/2009 | See Source »

...with middle-income economies such as South Korea and Mexico. Together, the 19 nations (plus the European Union, which explains the 20 - though the World Bank and IMF are also members of the G-20, just to confuse things) account for about 90% of world GDP, 80% of world trade and two-thirds of the world's population...

Author: /time Magazine | Title: The G-20 Summit: Can This Group Save the World Economy? | 3/31/2009 | See Source »

...Avoidance of protectionism. World trade, which has been the essential driver of poverty-relief in much of the world, especially in Asia, is contracting faster than the global economy as a whole. When they met in Washington last November, G-20 leaders pledged to set their faces against protectionism and to revitalize the moribund "Doha Round" of talks on world trade liberalization. Since then, says the World Bank, no fewer than 17 of the G-20 member nations have adopted a variety of protectionist measures - and there's no sign of any movement on reviving the Doha talks. The summiteers...

Author: /time Magazine | Title: The G-20 Summit: Can This Group Save the World Economy? | 3/31/2009 | See Source »

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