Energy: Oil, Agriculture, Food, Commodities & Cost of Living

  • The Independent (UK)The price of food is at the heart of this wave of revolutions: No one saw the uprisings coming, but their deeper cause isn’t hard to fathom
  • BBC / David McWilliamsInterview on: the economic imperative of renegotiating debt principal, Ireland’s positives – technology, agriculture
  • New York Times: Green (blog)A Tipping Point for Oil Prices: The days of $100 a barrel oil are back.
  • The Independent (UK)Ed Miliband warns of ‘cost of living crisis’: Ed Miliband, the Labour leader, will warn today of a “cost of living crisis” that will leave middle-income earners struggling even if the economy recovers… Mr Miliband will say this “sustained period of wage stagnation”, coupled with the Government’s spending cuts… is “hitting lower and middle-income families hardest in the way they are cutting the deficit”.
  • The Independent (UK)Oil price set to double if production is cut off: As Libyan output slumps, chances rise of a global supply shock that could push the UK back into recession.
  • Chronicle Herald (Canada)Energy: The really big crunch gets closer: The International Energy Agency last fall declared that “peak oil” — a phrase it had shunned before — is actually past. It happened in 2006. Their calculations indicate that’s the point at which the world’s conventional reserves started drawing down faster than new discoveries could keep up. (Egypt’s reserves peaked in 1996. Meanwhile its population tripled since 1960, increasingly supported by imported food — which it can no longer afford. And boom! — is that a message for the rest of us?)
  • (USA)Oil Chaos Could Divide Fed, ECB on Inflation Strategy: The Federal Reserve and European Central Bank may go their separate ways if Middle East unrest provokes a sustained, inflationary oil price spike. Crude prices creeping back into the triple digits have sparked concern about slower economic growth and will no doubt reignite two long-running monetary policy debates: Should central banks have a single inflation-fighting mandate, as the ECB does, or dual goals of price stability and full employment, like the Fed? Should policymakers focus on headline inflation rates or strip out volatile food and energy prices?
  • National Public Radio (USA) Soaring Food Prices Hit Poor Countries, Spur Farmers: Underlying the food inflation is a more than 70 percent increase in the price of wheat and corn in the second half of last year… the primary cause of the big spike in fuel prices is last year’s bad weather… The ruined harvest left global wheat stocks very low and pushed prices up sharply. Investment Lags: A decade ago, that might not have happened because government crop subsidies in the U.S. and Europe produced huge stockpiles. But a change in world trade rules ended those subsidies and the stockpiles disappeared. It was hoped investment in Third World farmers would take up the slack. But Abbassian says governments, including the U.S., have invested just a fraction of what was pledged. “In spite of the declarations and statements made, really the investment in agriculture is lagging behind,” he says. Smaller stockpiles have led to more volatile prices.
  • Telegraph (UK)(Road and rail transport) Copper thefts reach all-time high: A record surge in copper thefts poses such a threat to Britain’s infrastructure that it is deemed the second highest priority after terrorism, police have warned.
  • (Via South Wexford Integrated Forum for TransportSWIFfT: Facebook): New Ross Echo (Ireland)Railway line stolen in Campile: NEW ROSS Gardai are this week investigating the theft of lengths of railway line from Campile Station.

See also:

This entry was posted in Agriculture, Budget, Economy, Energy / Natural Resources, Geopolitics, ireland, Marine & Fisheries and tagged , , , , , . Bookmark the permalink.

2 Responses to Energy: Oil, Agriculture, Food, Commodities & Cost of Living

  1. Pingback: Before it’s news, read it on first… Again! OIL (4) |

  2. Pingback: Oil (5): Ernst & Young – if oil goes to $150, one eurozone country may default |

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