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...Still, there are no plans to make commercial air fleets run on coconuts. In fact, biofuel producers in general have had a tough couple of years. As food prices soar worldwide, people are growing ever more worried that biofuel production can drive up the prices of staple foods. Tens of thousands of Mexicans marched in January 2006, for example, to protest the rising price of corn, used in the U.S. to make ethanol. Virgin and partners claim that their airplane fuel is, as Branson says, "completely environmentally and socially sustainable." It's not made from staple-food crops or from...

Author: /time Magazine | Title: Can Airplanes Fly on Biofuel? | 2/25/2008 | See Source »

...Force's wish list also seeks more F-35 fighters (needed for "the Required Force"), more C-130 and C-17 cargo planes ("Part of Required Force"), and more unmanned Global Hawk drones (these would merely "Support Required Force"). Unmanned aircraft are supposed to be cheaper, but the price tag on these runs more than $120 million apiece. More than $1 billion is being sought for 11 passenger planes, seven of them Gulfstream Vs favored by Apple's Steve Jobs and Sir Elton John (no mention of any Required Force justification here...

Author: /time Magazine | Title: The Air Force Reaches for the Sky | 2/22/2008 | See Source »

...After two decades of war, there are over 1 million Afghan refugees currently living in Iran. Afghanistan doesn't have the resources to reintegrate them in large numbers. After Karzai made a direct appeal to Iranian President Mahmoud Ahmadinejad, Iran shut off the spigot. But it is unclear what price Iran might have extracted for its largesse. The repatriation, said the U.S. official, was "clearly designed to send a message to Afghans of displeasure of their relationship with...

Author: /time Magazine | Title: Iran Raises the Heat in Afghanistan | 2/22/2008 | See Source »

Wait a minute. $25? Al-Naimi said that in April 2003 - less than five years ago - when a barrel of oil cost one-quarter of this week's whopping $100, and when prices were regarded as high enough to keep oil-rich countries happy. Which brings up the question: How long will the price of oil remain sky-high...

Author: /time Magazine | Title: Oil's Sky-High Forecast | 2/21/2008 | See Source »

...price may also be affected by something a little more volatile: the action on Wall Street, where investors have poured money into the New York Mercantile Exchange, trading oil contracts - what analysts call "paper barrels" - in search of quick profits. "People are looking at oil as a hedge against inflation," says David Kirsch, an analyst for PFC Energy in Washington. He believes that with so many factors in play, "it's a fool's errand to calculate how much that's affecting the price...

Author: /time Magazine | Title: Oil's Sky-High Forecast | 2/21/2008 | See Source »

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