Like it or not, oil fuels the engines of industrialized economies. In California, we burn through nearly 20 billion gallons of the stuff each year just driving around. Then there’s the oil we use to grow and transport food and pump water, the oil that fuels planes, trains and cargo ships, and the oil that is embedded in every computer, every inch of asphalt and every bit of plastic. So imagine my surprise when I learned that oil supplies are running out - and that the federal government is doing nothing to prepare for it.

In a release Thursday, House Judiciary Committee Chairman John Conyers (D-MI) announced he will hold a hearing July 25 examining “the imperial presidency of George W. Bush and possible legal responses.”

The word “impeachment” was not mentioned in the announcement, but it appears the hearing is going to examine issues raised by Rep. Dennis Kucinich (D-OH) in his resolution to impeach Bush.

“Over the last seven plus years, there have been numerous credible allegations of serious misconduct by officials in the Bush Administration,” Conyers said in a news release.

As home prices continue to decline and loan defaults mount, federal regulators are bracing for dozens of American banks to fail over the next year.

But after a large mortgage lender in California collapsed late Friday, Wall Street analysts began posing two crucial questions: Just how many banks might falter? And, more urgently, which one could be next?

The American colonel, troubled by what he was hearing, tried to stall at first. But the declassified record shows he finally told his South Korean counterpart it “would be permitted” to machine-gun 3,500 political prisoners, to keep them from joining approaching enemy forces.

In the early days of the Korean War, other American officers observed, photographed and confidentially reported on such wholesale executions by their South Korean ally, a secretive slaughter believed to have killed 100,000 or more leftists and supposed sympathizers, usually without charge or trial, in a few weeks in mid-1950.

Endangered species could become extinct 100 times faster than previously thought, scientists warned yesterday in a bleak reassessment of the threats to global biodiversity. They say methods used to predict when species will die out are seriously flawed and dramatically underestimate the speed at which some will disappear.

The findings, presented in the journal Nature, suggest that animals such as the western gorilla, the Sumatran tiger and Malayan sun bear, the smallest of the bear family, may become extinct much sooner than conservationists had feared.