James Franco & Natalie Portman Cover EW

The Oscar Race Is On!!

Both James Franco and Natalie Portman are considered to be early favorites at 2011's Oscars, co-host James Franco for 127 Hours as Best Actor In A Leading Role and in the Best Actress In A Leading Role category Black Swan's Natalie Portman, who recently announced she is both engaged to and expecting a baby with her Black Swan choreographer/boyfriend Benjamin Millepied.

James Franco's 127 Hours Trailer

127 Hours, directed by Danny Boyle and starring James Franco, is a film based on the true story of Aron Ralston, and based on his book "Between A Rock And A Hard Place."
James plays Ralston, the mountain climber who amputated his own arm to free himself after being trapped by a boulder for nearly five days.

There's already Oscar buzz around the film and James, specially since Danny Boyle's last movie (Slumdog Millionaire) was the belle of the ball at the Oscars 2 years ago!