We used to do this to horse thieves. How about executing a few corporations? (Photo by Joe Hall/Flickr)
The Supreme Court of the United States has ruled that corporations are citizens, their money is speech, and their right to buy politicians with their money is protected by the Constitution. If they are persons, in this respect, then why should their lives not be forfeit when they commit horrific crimes? We kill people, don’t we? And if we’re going to start meting out capital punishment to corporations, I have a nomination for who goes first: Massey Energy.
The thing about a gas bubble is, it's flammable. (Photo by Andrew Kuznetsov/Flickr)
Once in a great while a newspaper (“The few. The frail. The fading.”) reminds us why we need newspapers, and why we are going to miss them. There are no other institutions left whose purpose (speaking here of the practitioners, not the investors) is to seek the facts and tell the truth. On Friday, the New York Times published the results of an exhaustive review of America’s natural-gas industry, which has been energized by the discovery of a new way to unlock gas from shale, and has pronounced it to be — to paraphrase — a fraud. Continue reading
When the going gets tough, the tough call on witch doctors to run the country. (Photo by RobertandAmanda/Flickr)
People who find themselves in impossible situations often resort to magical thinking. Examples are all around us: the overweight person who becomes convinced that a pill or a supplement or a surgical procedure will melt the excess weight without effort; the flabby couch potato who believes he can tone his abs by wearing an electric belt — while reclining, of course; the serial adopter of any and every get-rich-quick scheme that comes along. When an impossible situation is heading for an outcome that is unacceptable, such as illness, death or poverty, and the remedies — such as discipline, self-denial or hard work — are also unacceptable, then magical thinking often ensues. And that is one reason the United States is descending rapidly to the status of failed state: its political leaders, in attempting to do the impossible, while refusing to face the inevitable, have resorted to magical thinking. Continue reading
Too good to be good: perfect tomatoes cost more than any civilized nation should be prepared to pay. (Photo by Andy Wright/Flickr)
Like any compulsive gambler or addict faced with the accumulating consequences of destructive behavior, industrial agriculture responds by doubling down on the destruction; it responds, in other words, out of its illness and error, and will not change in any positive way until it hits bottom (although the behavior becomes much worse as the bottom nears). A new book illustrates this principle beautifully by focussing on a near-perfect embodiment of all that industrial agriculture has become — the tomato. In its losing struggle to provide perfect-looking, cheap tomatoes to every possible consumer, Big Ag has sunk to new lows of criminal behavior — slavery and genocide.
Mohammed "Don't-worry-be-happy" Aliabadi, Iran's acting oil minister and former Olympics Committee chair, says there is plenty of cheap oil for everybody, forever.
To hear its members tell it, the issue before the meeting of the Organization of Oil Exporting Countries beginning today in Vienna is whether or not it will choose to increase oil supplies for an increasingly needy world. What concerns the 12 member countries, they say, is merely fine-tuning a system that is working wonderfully, to make sure everyone remains as content as they are now. The current price of oil, around $100 a barrel, is about right, they say, and in the words of the current OPEC president, Iran’s caretaker oil minister Mohammad Aliabadi, “very much due to OPEC’s efforts, the world remains well supplied with oil, with ample spare capacity and adequate stock levels.” Wow. How much better could things get? Continue reading
The Mississippi River lapped briefly at the edge of Interstate 20 in Vicksburg, Mississippi, and then receded. This time. (US Forest Service photo)
The historic Mississippi River flood of 2011 (or at least, of this far in 2011) is slowly receding now, and the catastrophic failure of the Old River Control Structures, that could have brought the US economy to its knees did not happen. What are we to make of this? But let us ask a different question first: instead of analyzing what did not happen, what are we to make of what did happen? Continue reading
”]The idiots savant who lead Wall Street stampedes off cliffs have a new sure thing: by which they mean a sure-fire, get-rich-quick scheme; and from which we should infer, take cover. First, the savant part; more and more of them are coming to believe that when you apply arithmetic and logic to the rate at which the industrial world is destroying natural resources, you are led to the conclusion that the edifice is going to crash. (Also see “Hedge Fund Guy Says Brace for Impact: Believe it Now?”) The idiot part is, they want to get rich from the crash, as they cling to the pathetic belief that, after the crash, having lots of money is going to be useful. So they are pumping up a new investment bubble — farmland. Continue reading
The critters that are "stealing" our food, busted at last. (Photo by Chris Huggins/Flickr)
A study done for the UN’s Food and Agriculture Organization, released a week ago, finds that nearly one-third of the world’s food supply — in the United States the figure is 40 per cent — is never consumed because it is wasted. Billions are being spent to develop new chemicals, new genetically altered seeds and new, energy-intensive, unsustainable farming methods that are alleged to increase food production, but the authors of the study expressed surprise that the loss of food, much of which is deliberately thrown away, is drawing no attention. Continue reading
Maj. Gen. Michael Walsh, U.S. Army Corps of Engineers Mississippi Valley Division Commander, explains to the news media on May 9 what the Mississippi River will be allowed to do during the flood of 2011. As the map clearly shows, it will be permitted to move only in straight lines. (U.S. Army Corps of Engineers photo)
The headline in USA Today yesterday read: “Mississippi Flooding Redeems Army Corps.” Also yesterday, a Daily Impact commenter (a troll with no cogent argument, so you will not read the rest of his rant here) asked: “Don’t you get tired of predicting disasters that never happen?” Hard to know where to start, but let’s try here:
- How can the Corps be redeemed for handling an emergency that is only about halfway through its course?
- Warning of danger, and quoting authoritative people describing what could happen, is not the same thing as “predicting disasters.”
Let’s take another look at the Mississippi situation. Continue reading
Marchers in Pittsburg protest fracking in November, 2010. (Photo by Marcellus Protest/Flickr)
The thing about pathological liars is that they also lie to themselves. Their lies get them into ever deeper trouble, which they attempt to handle by mumbling lies to themselves, which don’t help, which causes them to double down on lies until gravity reasserts itself and the world falls on them. Keep this in mind as we watch the end state of the oil and gas industry. Continue reading