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...some low hills, a series of dense white steam plumes rise into the cloudy sky. In a flannel shirt and hard hat, Birkir Fanndal maneuvers his truck over one of the dirt roads that crisscross Iceland's first major geothermal power station, Krafla. Soon after the inaugural borehole was drilled here 34 years ago, the first in a series of volcanic eruptions rocked the area. The eruptions, nine in all, went on for nearly a decade, sending engineers scrambling to keep up with the shifting earth. Fanndal, the plant's manager, stops his truck in front of a crater where...

Author: /time Magazine | Title: Energy: Boiling Point | 12/4/2008 | See Source »

...quickly cutting their exploration efforts. On Tuesday, oil fell to $46.85 a bbl., its lowest price in 3 1/2 years, down significantly from the $140 it traded for this past July. Natural-gas prices are well off highs too. And that is causing energy executives, recently determined to drill in places long considered uneconomical, to rethink their plans. "Oil and gas companies are going to meaningfully cut their budgets next year," says Larry Nichols, chief executive of Devon Energy, one of the nation's largest exploration companies. "And that includes us." (See TIME's photo gallery "Oil in the Sand...

Author: /time Magazine | Title: Oil-Price Drop Forces Big Energy to Retreat | 12/3/2008 | See Source »

...other hand, a Martin surprise in this deep-red state would be a crowning embarrassment for the GOP. It would rival Obama's own victory as a repudiation of the Bush agenda of tax cuts for the rich, pork for the well-connected, belt-tightening for the working poor, drill-baby-drill, strict-construction judges and military adventurism - not to mention the political cynicism that made Chambliss notorious after his ads in 2002 comparing his opponent, triple-amputee Max Cleland, to Osama bin Laden and Saddam Hussein...

Author: /time Magazine | Title: What's Really at Stake in Georgia's Senate Runoff | 12/2/2008 | See Source »

...base of black voters. "I'll tell local chairmen, 'If you want to be chairman under my leadership, don't think this is a country-club atmosphere where we sit around drinking wine and eating cheese and talking amongst ourselves. If you don't want to drill down and build coalitions in minority communities, then you have to give that seat to someone who does...

Author: /time Magazine | Title: Is There a Future for Black Republicans? | 11/21/2008 | See Source »

...left the Turkish coast four hours earlier. The men have rowed more than halfway across the strait, a few hundred yards into Greek territorial waters. They've made it into Europe alive. Five minutes later, the radar picks up another dinghy nearby with five more young men, and the drill is repeated. As the captain turns the Lambro toward shore, the 10 men are told to sit on the deck near four large hot-air vents to keep warm...

Author: /time Magazine | Title: Greece's Immigrant Odyssey | 11/20/2008 | See Source »

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