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...slight increase in SUV and light-truck fuel efficiency did make it into the Republican bill, which requires Detroit to set standards that would save 5 billion gallons of oil between 2004 and 2010, but doesn?t specify those standards (most number-crunchings have it at a measly extra...

Author: /time Magazine | Title: Will the Senate Unplug Bush's Energy Plan? | 8/2/2001 | See Source »

...What It Means to the U.S. Shades of the '70s? No. Non-OPEC oil sources have increased significantly since then. But higher energy costs are like an ugly tax. Consumers shelled out an extra $50 billion last year because of higher gas prices. "The danger is that OPEC could be too successful," says Nariman Behravesh, chief global economist for DRI-WEFA, an economic consulting firm. "If they hang tough with their quotas and oil prices stay high as the world economy slows down, the downturn could be even more pronounced...

Author: /time Magazine | Title: Recovery At Risk | 8/1/2001 | See Source »

...Nobody?s crying for Big Tobacco. The industry has long boasted legendary price elasticity - meaning smokers, when confronted with price increases, simply pay up - and cigarette makers have simply passed the extra costs on to consumers. Talk about a business model - Philip Morris was the best-performing Dow stock of 2000, gaining 90 percent, and reported 8 percent profits in the dismal-for-most second quarter...

Author: /time Magazine | Title: Why Uncle Sam May Secretly Want You to Smoke | 7/30/2001 | See Source »

Israeli officials have long been accustomed to having to take extra security precautions when traveling abroad. But a new threat is keeping some of them - possibly even Prime Minister Ariel Sharon - away from certain countries altogether. The latest menace, though, comes not in the form of terrorists, but of lawyers...

Author: /time Magazine | Title: Why Israeli Officials Are Limiting Their European Vacations | 7/29/2001 | See Source »

...busier days” come more and more often during the summer, as the overnight-camp and dorm-room markets constitute our equivalent of the Christmas retail season. It’s not difficult to imagine myself as one of the young men sifting through racks of twin-extra-long sheets; I distinctly remember taking it as a good omen that my sheet pattern bore the name “Harvard.” Now, aside from the “Cambridge” quilt pattern, omens of any kind are few and far between in the bedding department...

Author: By Thomas J.clarke, | Title: POSTCARD FROM DEERFIELD, ILL.: Bedding Down for the Summer | 7/27/2001 | See Source »

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