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...supporting al-Fadel's initiative, and few other senior members of the Supreme Council would offer public comment. The Supreme Council holds very little sway in Basra, and would fear seeing its vast oil riches, key to the economic viability of their own "super region" project, falling under the control of a separate entity...

Author: /time Magazine | Title: A New Twist in Iraq's Shi'ite Power Struggle | 11/16/2008 | See Source »

...business, and as similar behavior came to a halt at other firms, oil lost its upward momentum. Enter the financial crisis, which dealt the finishing blow. The dollar had weakened during the first revelations of the mortgage crisis, but as that situation spun out of control into an international credit crisis, the currency markets favored the U.S. dollar. Since oil is traded internationally, as the dollar gained value, the price of oil in
 dollars had to come down. A weakening dollar played a role on the way up; a strengthening dollar on the way down. But the euro...

Author: /time Magazine | Title: What Caused the Big Slide in Oil Prices | 11/14/2008 | See Source »

...rescue plans 
permeated the media. The price of oil began to fall, and speculators had to put up more money for margin, but their other investments were simultaneously declining. Thus, they were forced to close out their long positions and sell oil. As everything spun out of control, everyone wanted out: a full liquidation. Even diversified investors tend to hold long positions in commodities as inflation hedges. Losses in stocks forced these long speculators to liquidate their positions in all commodities...

Author: /time Magazine | Title: What Caused the Big Slide in Oil Prices | 11/14/2008 | See Source »

...arrived he has. Chopra's Mission Control - the Chopra Center for Well Being in La Jolla, California - attracts thousands of visitors and millions of dollars' worth of business each year. His list of friends and admirers runs from Demi Moore to the Dalai Lama. Chopra's 29 books have sold over 10 million copies in English alone and been translated into more than 30 languages. His overall yearly profit exceeds $15 million. His son Gotham and daughter Mallika are each following in his footsteps, Gotham with books and TV gigs and Mallika with a website on human potential. Traditional...

Author: /time Magazine | Title: New Age Supersage | 11/14/2008 | See Source »

...Even for a notoriously repressive regime, the jail sentences were unusually harsh. Last year, the generals who control Burma, also known as Myanmar, violently crushed a peaceful, monk-led protest movement calling for economic and political reforms. Hopes that an influx of foreign aid - dispersed after Cyclone Nargis devastated the Irrawaddy Delta last spring - would convince the junta to take a softer approach were dashed by the rash of detentions that accelerated in late October. Last week, two journalists were jailed, while three lawyers representing political activists have also been sentenced to prison. "These last few weeks show a more...

Author: /time Magazine | Title: Burma Crackdown Reflects Junta's Insecurity | 11/13/2008 | See Source »

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