Final preparations are underway for the biggest red carpet event of the year... the Academy Awards. <br /><br />"Avatar", the most expensive film ever made, costing $500 million, is one of the favourites for the Best Picture award. <br /><br />But it's facing strong competition from a film that cost a fraction of that - "The Hurt Locker." Filmed in Jordan and taking a look at a US army bomb disposal unit, the film has already won a host of other awards. <br /><br />They're both up against eight other nominees for the top prize, including "Up in the Air" and "District 9".<br /><br />Despite the variety of films on this year's list, critics say the Hollywood movie industry has lost its edge.<br /><br />Al Jazeera's Jane Dutton talks to Ali Jaafar, the former editor of Variety magazine.<br /><br />March 5, 2010
