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Domain: thenational.ae
Stories and comments across the archive that link to thenational.ae.
Stories · 2
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Getting Rid of Carpool Lanes Could Double Travel Times (sciencemag.org)
An anonymous reader quotes a report from Science Magazine: Eliminating carpool lanes could almost double drivers' traveling times, according to a new study. The findings come thanks to an unusual decision made by the government of Jakarta last year. Following allegations that drugged babies from poor households were being used as "jockeys," or passengers for hire, Indonesian lawmakers repealed the so-called three-in-one restriction. The law had required cars driving on the business district's main roads to carry at least three passengers during rush hours. To determine the impact on the city's drivers, Benjamin Olken, an economist at the Massachusetts Institute of Technology in Cambridge, and colleagues queried Google Maps for real-time driving-speed data before and after the new policy went into effect. Following the policy lift, travel delays, defined as the time it takes to travel 1 kilometer, increased by 46% in the morning and almost 90% in the evening, the team reports today in Science. But the most startling result is that phasing out the three-in-one policy led to worse traffic during times of the day and on roads where there had never been restrictions in place, Olken says. One possible explanation, he says, is that the three-in-one restriction led fewer people to drive into the city. "Maybe they carpooled, took public transit, or worked from home." -
Are We Seeing the End of Big Oil?
Hugh Pickens writes "Cyrus Sanati writes in Fortune Magazine that up until now, it has been widely accepted that being bigger was better for oil companies, but the announcement that ConocoPhillips plans to break up into two separately traded companies, separating its exploration and production unit from its refining and marketing units, took Wall Street by surprise, raising uncomfortable questions about the future of Big Oil. 'That's because the exploration side and the refining side of the oil business have little to do with one another,' writes Sanati. 'Contrary to popular belief, Big Oil has almost no control over the price of oil these days. That power squarely rests with oil-rich nations that hold most of the world's oil reserves and the Wall Street banks and hedge funds that speculate and make markets in the oil trading game. So even though ExxonMobil pumps oil, it can't guarantee that its refining unit will be able to profitably process a barrel into gasoline or heating oil.' ... 'If the ConocoPhillips story is a success for shareholders, there will be calls to break up Big Oil just in time for the annual meetings in the spring. So by this time next year, it is possible that Big Oil will go the way of Rockefeller's once gargantuan Standard Oil — with the markets, not the government, forcing a break up this time.'"