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...placed in 1973. It would parcel out nearly $10 billion in tax breaks and subsidies to oil and gas companies that will not erase falling production but instead enrich oilmen and investors. At the same time, the President's proposed budget slashes spending on wind research by 5.5%, zero-energy buildings by 50% and biomass by 19%. To add to the insult, the Administration took the money to print its 170-page 2001 National Energy Policy out of the budget for renewable fuels...

Author: /time Magazine | Title: The U.S. is Running Out of Energy. | 7/21/2003 | See Source »

...strategy to slash imports. When he signed the Energy Security Act into law in June 1980, Carter said it would "encourage production of 2 million bbl. a day of synthetic fuels by the year 1992." That didn't work either: synthetic-fuel production ended up slightly in excess of zero, and oil imports totaled 6.9 million bbl. a day that year...

Author: /time Magazine | Title: The U.S. is Running Out of Energy. | 7/21/2003 | See Source »

...vain. "This is a dramatic movie, not a documentary," Bruckheimer says. "Veronica made a huge difference in Ireland and changed the laws. Unfortunately, she had to die first, but hopefully the country's better for it." The film does highlight the government's response to Guerin's murder: a zero-tolerance policy that made it easier to investigate suspected criminals and reduced the overall crime rate in Ireland by 12%. What it leaves out is that despite the crackdown, violent crime in Ireland has risen sharply. This omission aggravates those who work close to the statistics. "You get the impression...

Author: /time Magazine | Title: Looking For The Facts Behind The Fable | 7/20/2003 | See Source »

...latest credit-card offer from Discover all but screams out, "What a deal!" The terms: 0% interest for life on balance transfers. JPMorgan Chase Bank also recently offered customers a 0% deal in a limited test. But before you accept, read the fine print. That zero rate won't necessarily last forever. After six months, cardholders who still carry a transfer balance can retain the 0% rate only if they make two transactions per month. And new purchases carry a 13.99% rate. Also, monthly payments get applied to the transfer balance first, so interest will accrue quickly on current purchases...

Author: /time Magazine | Title: Money: Why 0% Interest Isn't Always a Good Deal | 7/14/2003 | See Source »

...necessarily anti-China but desire things that Beijing deplores, such as more democracy in Hong Kong and even on the mainland. Given the arcane way Legco votes are tallied, the democrats are dwarfed by Tung's allies; and in the past, just about every major issue became a zero-sum game that Tung's side simply had to win in order to maintain China's confidence...

Author: /time Magazine | Title: Hong Kong Gridlock | 7/14/2003 | See Source »

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