How peak oil affects food and everything else

Media Education Foundation has released a new documentary called "Blind Spot" which

explores the inextricable link between the energy we use, the way we run our economy, and the multiplying threats that now confront the environmental health and stability of our planet. Taking as its starting point the inevitable energy depletion scenario known as "Peak Oil," the film surveys a fascinating range of the latest intellectual, political, and scientific thought to make the case that by whatever measure of greed, wishful thinking, neglect, or ignorance, we now find ourselves at a disturbing crossroads: we can continue to burn fossil fuels and witness the collapse of our ecology, or we can choose not to and witness the collapse of our economy. Refusing to whitewash this reality, Blind Spot issues a call to action, urging us to face up to the perilous situation we now find ourselves in so that we might begin to envision a realistic, if inconvenient, way out.

You can watch a ten-minute excerpt here. By watching it, I learned that:
  • The U.S. now has more prisoners than farmers.
  • Corn ethanol is energy negative (making it uses more energy than burning it).
  • It takes 30 calories of energy to bring one calorie of lettuce from California to the average plate.
  • The average item of food travels 1,500 hundred miles to your plate.
  • The concept of peak oil (essentially, that we are running out of cheap oil), is still ignored or rejected by most businesses, governments and individuals.
See the related posts for more information on peak oil, as well as here and here.

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Financial crisis: NOT fixed

Have we "fixed" the problem that lead to the financial collapse of the U.S.? Not at all, according this article in Bloomberg.

Joseph Stiglitz, the Nobel Prize- winning economist, said the U.S. has failed to fix the underlying problems of its banking system after the credit crunch and the collapse of Lehman Brothers Holdings Inc. “In the U.S. and many other countries, the too-big-to-fail banks have become even bigger,” Stiglitz said in an interview today in Paris. “The problems are worse than they were in 2007 before the crisis.”

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Backroom postal employees paid to do nothing.

The Federal Times has provided a disturbing example of government waste. Situations like these cause many people to distrust the federal government (except, of course, when the government is invading another country with government employee-soldiers).

The U.S. Postal Service, struggling with a massive deficit caused by plummeting mail volume, spends more than a million dollars each week to pay thousands of employees to sit in empty rooms and do nothing. It’s a practice called “standby time,” and it has existed for years — but postal employees say it was rarely used until this year. Now, postal officials say, the agency is averaging about 45,000 hours of standby time every week — the equivalent of having 1,125 full-time employees sitting idle, at a cost of more than $50 million per year.

According to Federal Times article, mail volume is way down (largely because of the Internet), and the USPS can’t keep all of its employees busy. This article states that union rules prohibit layoffs or re-assignment to locations that do need workers. Federal Times reported that postal officials admitted that 15,000 postal workers did least some “standby time” last year, many of them spending entire shifts in break rooms where they do crosswords and personal reading, and some even sleep through their shifts. The article notes that letter carriers are not among the affected employees; letter carriers are being kept busy due to reduced numbers of those positions and increasing numbers of addresses to service. Speaking of mail volume being way down, my letter carrier tells me that almost everything he delivers is advertising, magazines, bills or greeting cards. People are squawking about closing some post offices, but shouldn’t there be even a bigger cost-saving move to reduce deliveries to three per week? Couldn't I possibly wait an extra day for that magazine, for that bill or for that mailer worth 15% off on my next delivery of pizza? Think of all the fuel and money taxpayers could save if we delivered mail to residences only every other day instead of every day . . .

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Elizabeth Warren faces fierce resistance to regulation of non-bank lenders

Elizabeth Warren is one of my heroes. Barack Obama appointed her to be Chair of the Congressional Oversight Panel created, which was established to oversee the banking bailouts. For many years, Warren has fought tough battles on behalf of consumers. [See the related posts to this post; and here's a video of Warren being interviewed by Jon Stewart that will give you an idea of what she is about (and especially consider Part II)]. Warren is now facing an incredibly tough uphill battle. Her main weapon is common sense. She wants to regulate banks and non-bank lenders, to stop them from defrauding consumers with their fine print, their outlandish fees and their arithmetical hocus-pocus. In a fair fight, her position should easily win the day. But it's not a fair fight, because the financial services industry owns much of Congress. Therefore, Warren has spent much time advocating for the need for a strong Consumer Financial Protection Agency (CFPA). Here's what Warren has to say about the need to regulate non-bank lenders:

There is more that we can do to deal with non-bank lenders, but only if Congress creates a strong CFPA. If we stick with the status quo -- which treats loans differently depending on who issues them and places consumer protection in agencies that consider it an afterthought - we know what will happen because we have seen it happen before. Lenders will continue their tricks and traps business model, the mega-banks will exploit regulatory loopholes, and the non-banks will continue to sell deceptive products. In that world, small banks will need to choose between lowering standards or losing market share, and they will still get too much attention from regulators while the non-banks and big banks get too little. Dangerous loans will destabilize both families and the economy, and we'll all remain at risk for the next trillion-dollar bailout. Regulating the non-banks hasn't been tried in any serious way. The CFPA offers a real chance to level the playing field, to add balance to the system, and to change the consumer lending landscape forever.

Continue ReadingElizabeth Warren faces fierce resistance to regulation of non-bank lenders