It's the latter, although they are satirically referring to the one individual butterfly. There is no species named for Edward Lorenz that I know of. The Annals of Improbable Research is a humor magazine.
Man, this brings back memories! Alex posted this picture five years ago, linked to my site, and it got reposted at Boing Boing. That's the day I found out what internet traffic really is.
randi, it wasn't an oil tanker, but a cargo load of soybeans. The oil was just fuel to get it there. A massive amount, to be sure, which just makes you wonder about the hidden costs of global trade.
I was a bit confused by that as well, since "rubberneck" usually refers to people who slow down at the scene of an accident so they can stretch their necks out and get a good look at the carnage. Or it can refer to anyone who makes a show out of looking at something.
http://www.neatorama.com/2006/06/16/we-should-like-stop-saying-like/
http://www.neatorama.com/2007/06/26/3-famous-psychology-studies-that-would-be-illegal-today/
http://www.latimes.com/news/nationworld/world/la-fg-japan-quake-scuba-20110317,0,7192950.story