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Read full from EERE News
As the press release puts it, this fund will "leverage technology and business model innovation to improve energy efficiency, reduce waste and emissions, harness renewable energy, and more efficiently use natural resources, among other applications." As Soros puts it in the same release: "Developing alternative sources of energy and achieving greater energy efficiency is both a significant global investment opportunity and an environmental imperative." Cadie Thompson at CNBC's NetNet flagged this.
So, yeah. The big-government policies advanced by the liberal outfits he funds — like Center for American Progress — will enrich the companies in which Soros is investing.
But this story gets better.
The press release casually mentions whom Soros is hiring to run this new fund: Cathy Zoi. As Cadie Thompson at CNBC's NetNet (edited by my brother John Carney), puts it, Zoi was Barack Obama's "Acting Under Secretary for Energy and Assistant Secretary for Energy Efficiency and Renewable Energy."
An Al Gore acolyte, Zoi was Obama's point-woman on subsidizing green tech. Now she's going to work for George Soros to profit off of subsidized green tech. Rest here at WashingtonExaminer
Zoi, who joined the Obama Administration in 2009, became controversial during early 2010, after it was realized she had a financial interest in two companies that were poised to profit from government spending that promoted energy efficiency.
Cathy Zoi, the assistant secretary of energy for energy efficiency and renewable energy, owns between $250,000 and $500,000 worth of stock in Landis+Gyr, a Swiss-based manufacturer of special electric meters that are used to create an efficient "smart" grid of electricity use.
Her husband, Robin Roy, owns options on at least 120,000 shares of Serious Materials, a leading manufacturer of energy-efficient windows that's been singled out for praise by President Barack Obama and Vice President Joe Biden. As an officer of the company, Roy receives options on an additional 2,500 shares every month and will continue to do so until October 2012.
16.896 Sale or contractual operation of state−owned heating, cooling, and power plants. (1) Notwithstanding ss. 13.48 (14) (am) and 16.705 (1), the department may sell any state−owned heating, cooling, and power plant or may contract with a private entity for the operation of any such plant, with or without solicitation of bids, for any amount that the department determines to be in the best interest of the state. Notwithstanding ss. 196.49 and 196.80, no approval or certification of the public service commission is necessary for a public utility to purchase, or contract for the operation of, such a plant, and any such purchase is considered to be in the public interest and to comply with the criteria for certification of a project under s. 196.49 (3) (b).
The bill would allow for the selling of state-owned heating/cooling/power plants without bids and without concern for the legally-defined public interest. Read full at PeakEnergy
Here's another reason the recent approval of GMO alfalfa and sugar beets was a bad idea: researchers claim that Roundup Ready GE crops contain an organism, completely unknown until now, that has been shown to cause miscarriages in farm animals.
The new organism was detected only after researchers observed it using a 36,000X microscope. It is about the size of a virus.
The scary part: it can reproduce, and possesses the rare ability to cause disease in both plants and animals.
The research was performed by Professor Don M. Huber of Purdue University. Huber is also a coordinator for the USDA National Plant Disease Recovery System. He penned an open letter to Agriculture Secretary Tom Vilsack outlining the dangers of this organism, how it was discovered, and his recommendation that a moratorium on the sale and planting of Roundup Ready crops be put in place immediately.
He states: "In summary, because of the high titer of this new animal pathogen in Roundup Ready crops, and its association with plant and animal diseases that are reaching epidemic proportions, we request USDA's participation in a multi-agency investigation, and an immediate moratorium on the deregulation of RR crops until the causal/predisposing relationship with glyphosate and/or RR plants can be ruled out as a threat to crop and animal production and human health.
It is urgent to examine whether the side-effects of glyphosate use may have facilitated the growth of this pathogen, or allowed it to cause greater harm to weakened plant and animal hosts. It is well-documented that glyphosate promotes soil pathogens and is already implicated with the increase of more than 40 plant diseases..."
A new organism, able to reproduce and cause disease in both plants and animals. If it's able to cause infertility and miscarriage in the farm animals that are in contact with it, one can only wonder: what is it doing to us?
Filed under yikes... from a hugger"I assume that Doug Noland was commenting about this whole nasty Federal Reserve thing, too, when he writes, "First, it was the Federal Reserve. After working studiously to create one, the Fed tossed its vaunted 'exit strategy' right into the scrapheap. They were to have moved to reduce holdings and liquidity operations that had ballooned during the 2008 financial crisis. Our central bank abruptly reversed course and instead chose to significantly expand stimulus – even in a non-crisis environment," so that now "Fed Credit has inflated $189bn in the past 14 weeks, with market perceptions of 'too big to fail' and moral hazard being further emboldened."Quote of the week by The Mogambo Guru
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And the reason is simplicity itself: if you borrow $1 and promise to pay back $1.05, it is one thing, but if everyone borrows $1 and promises to pay back $1.05, then it is quite another!
Obviously, a lot of people are going to have to borrow $1.10 to pay back the $1.05, and then they have to borrow $1.16, then $1.22, then $1.28, all the time getting worse and worse and worse.
And now that government (local, state and federal) spending comprises HALF of all spending in the USA, the system has hideously mutated into a giant corrupt cesspool that is totally dependent on borrowing to support government spending.
From 24 distinct populations (12 subdivided into separate male and female populations), representing eight species, over 20000 animals were studied. Time trends for mean per cent weight change and the odds of obesity were tested for the samples from each population at an age period that corresponded roughly to early-middle adulthood (35 years) in human development.
History repeats itself: food riots are breaking out across the poorer nations, the Middle East is in turmoil and Brent crude has passed the $100 mark – 2011 is opening just like 2008 did.
Now, it may be just coincidence, but it looks suspiciously like the issues that shaped the first half of 2008 are back: oil demand is surging, its price is rising, and people in the poorer nations are consequently finding the cost of staple foods out of reach. There is a direct link between the cost of oil and food – which I'll return to in a subsequent post – and so the first to suffer from a rise in oil prices are people in developing countries living on a couple of dollars a day who cannot absorb rising costs.
If the cost of oil goes on rising – and all indicators suggest it will – then we will see a growing humanitarian disaster around the globe. Neither are our industrial economies immune: based on the assumption that $150-per-barrel oil breaks the machine, how much space do we have before we see oil prices triggering another global recession?
First, a flashback to 2008 is in order. The year opened with food riots which gathered momentum in the first half of the year. There were riots in India, Burkina Faso, Cameroon, Senegal, Mauritania, Cote d'Ivoire, Egypt, Yemen, Morocco, Haiti, Senegal and Somalia. Varying levels of unrest were also reported in Mexico, Bolivia, Uzbekistan, Bangladesh, Pakistan, Sri Lanka and South Africa.
The International Energy Agency (IEA) website archives monthly oil market reports, so we can see that oil began the year on a high, crossing the psychological $100 barrier, and projected global demand for oil rising:
NYMEX light sweet crude futures breached $100/bbl in early January and remain near record highs, lifted by falling stocks, cold weather and tight fundamentals. Tensions in Nigeria and the Middle East and fund positioning remain important supportive factors.
2007 world oil demand is revised up by 150 kb/d to 85.8 mb/d on stronger-than-expected deliveries in Asia and the Middle East and cold OECD weather.
You can follow the surging prices through the first half of 2008, each month setting a new record: $105 per barrel by early March, $110 in April, $126 in May, around $140 in June ("following comments by an Israeli official that an attack on Iranian nuclear facilities was 'inevitable' and. . . against a tight supply background with no clear sign of the usual second-quarter crude oil stockbuild") to an early July peak just above $145 per barrel. Then came the recessionary fall from $147 a barrel in July to $32 in December. (It was back up to $85 within five months, despite the global economic collapse.)
Now, jump forward to 2011. The year opened with the UN announcing that food prices"surged to a new historic peak in January, for the seventh consecutive month," and further price increases could trigger upheaval and riots in developing countries. We have already seen protests over food prices in Niger, Guinea, Burkina Faso, Mexico, Tunisia and Yemen this year. Protests linked to prices of staple foods are currently sweeping across the Middle East: Bahrain, Libya, Yemen, Iran, Iraq and Egypt are aflame.
Now, oil: the IEA's Oil Market Report for January 2011, published February 10, shows Brent crude reaching the psychological $100 barrier and demand increasing:
Crude prices were propelled higher at end-January by political unrest in Egypt, with Brent crude reaching $100/bbl on fears that the turmoil might disrupt Suez canal and SUMED pipeline flows or spread in the region. Although prices have since eased, Brent futures remain around $100.50/bbl and WTI [West Texas Intermediate] at $87.20/bbl at writing.
Global oil product demand for 2010 and 2011 is revised up by 120 kb/d on average on higher-than-expected submissions in non OECD Asia and improved economic prospects for OECD North America. At 87.8 mb/d in 2010, global oil demand rose by 2.8 mb/d year-on-year, and should reach 89.3 mb/d in 2011 (+1.5 mb/d year on-year).
World oil supply rose 0.5 mb/d in January, to 88.5 mb/d, on higher OPEC crude and NGL output.
(Canadian oilsands output is already flooding parts of the US market, driving down West Texas Intermediate crude oil prices, while Brent is now more of a bellwether for international price trends.)
So, according to the IEA, global demand for oil is set to reach 89.3 million barrels per day in 2011; supply is stated at 88.5 million barrels per day, with Opec effective spare capacity – its ability to open the spigots and produce more at a moment's notice – offering an additional 4.7 million barrels per day.