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...liberal chairman of the Senate Environment and Public Works Committee, the bill was never given much chance of passage. Its carbon-reduction targets were tougher than the business community wanted, but not as tough as many greens demanded. And it was complicated, even bloated - it would have raised $6.7 trillion over 40 years by auctioning global warming pollution permits, using great gobs of that money to buy off various interest groups. But it was significant just the same, because its six-month-long journey from environment and public works committee to Senate floor helped force some reluctant Senators to begin...
...development might cut atomic costs, just as we hope will happen for alternatives. And the sheer size of the problem facing the global energy industry demands that no solution can be dismissed out of hand. On June 6 the International Energy Agency released a study calling for $45 trillion in energy investments between now and 2050, including both a vast expansion in wind power and the construction of some 1,400 new nuclear plants. The conservatives are wrong to argue that nuclear deserves special treatment - it should live and die on the private market like any other technology...
...really make and sell enough stuff to bring imports and exports into balance? Well, maybe. This country is, believe it or not, still the world's largest manufacturer. Exports are at an all-time high, both in dollar terms ($1.6 trillion in 2007) and as a percentage of GDP (11.8%). It's just that imports have grown much faster over the years. The U.S. has continued to run surpluses in some high-tech, high-price-tag categories--aircraft, specialized industrial machines--and in agricultural commodities. It's in consumer goods--clothing, TVs, cars--that the big deficits show...
...clan ties have given way to networks whose obsessive focus is on making money - lots of it, as quickly as possible. The global integration of capital markets, coupled with the fall of communism, has triggered an enormous explosion of international financial flows, which has both facilitated criminal behavior, as trillions of dollars slosh around the world, and made it much more difficult to combat crime. Winer and his colleagues identified the development of a coherent global anti-money-laundering strategy as key in trying to stem the shadow economy's swelling river. But it proved an uphill struggle. The sums...
Turkish businesses, meanwhile, invested $28 billion in Russia last year, up from $15 billion in 2005. They are poised to take advantage of the $1 trillion that Russia says it will spend on infrastructure by 2020. And while Turkey refused to permit U.S. troops to invade neighboring Iraq from its territory in 2003, Turkish construction and retail companies have since invested up to $10 billion in the war-torn country...