July 2, 2008

Are the US Financial Networks propping up the US Economy

And are they finally losing their grip?

CNN, CNBC, Bloomberg, FoxNews… one wonders… if this was 1929 would the psychology of the crash have happened?

Go read this link from Financial Sense.com:
http://www.financialsense.com/fsu/editorials/willie/2008/0702.html

Now the Intl Monetary Fund has decided to conduct an investigation into the financial management of the US banking system! This is totally unprecedented. The German journal Der Spiegel wrote that the IMF had informed US Federal Reserve chairman Ben Bernanke of its plans for a general examination of the US financial system. The IMF board of directors has ruled that a so-called Financial Sector Assessment Program is to be carried out in the United States. This, according to the German journal, “is nothing less than an X-ray of the entire US financial system… No Fed chief in US history has been forced to submit to the kind of humiliation that Ben Bernanke is facing.” For some reason, the entire story escaped the intrepid lapdog US press network system.

Technorati Tags:

Filed under: Peak Oil, Politics, The Good Life
by chrisale on July 2nd, 2008 EDT TrackBack URI

May 28, 2008

Peak Oil Presentation to City Council

Well.. after almost two years since the last time I considered doing this… on June 9, 2008, I’m planning on presenting to Port Alberni City Council on Peak Oil.

This comes on the heels of last nights Council meeting where the Cities’ Climate Change Committee, of which I am a member, presented their report. It was well received, but what really floored me was the Peak Oil awareness, and concern shown quite unexpectedly from one of our Councillors. His comments spurred me to go through with the presentation right now.

My presentation focuses on a recommendation for Council to endorse becoming a Transition Town. Transition Towns were born in the UK as a grassroots initiative by citizens to propel their respective towns to address the twin challenges of Climate Change and Peak Oil by participating in community wide educational, informational and transitional events, and completing “Energy Descent Action Plans (click for one towns Plan)” for their City to follow.

I’ll be presenting a slideshow to Port Alberni City Council. You can see it below. I will also be giving them this Transition Town Primer to peruse and get to know the initiative.

I think the time is now.. oil supply fears have finally come to a head, and I think we’re on a tipping point.

And so.. I will be presenting this to Council on June 9th. Please do leave any comments you might have.

Technorati Tags:

Filed under: Environment, Peak Oil, Politics, The Good Life
by chrisale on May 28th, 2008 EDT TrackBack URI

May 13, 2008

Calculating Commuting Costs on Vancouver Island

This will be the first post in a series as I work through this data.
First, full disclosure, I work at Malaspina (Vancouver Island University) in Nanaimo and live 80KM away in Port Alberni. It’s a 1 hour drive morning and night, so yes, I have a vested interest in this topic. I am also a volunteer with the Corridor Coalition, which is trying to convince government to restore the E&N to a state where it could take a large chunk of the economic and environmental load of off residents, business, and industry on Vancouver Island.

The reason i started this, what I saw this post here at the theoildrum.com doing a similar study of commuting costs from the suburbs of Sydney, Australia.

The general premise being, that those in Australia, and in North America, have very much become used to very cheap gasoline (petrol). And this has created the ever expanding suburbia and exurbia with very little investment into Public Transport (rail, bus, or otherwise) by any of the governments in question.

As fuel prices rise rapidly, this is having a serious affect on the ability of households to cope… especially since wages are not keeping up with inflation over the past 30 years, let alone rising costs of the past 5.

So, I’ve created my own version of the Sydney example. I’ve used StatsCan data on Median Household Income Updated now: After Taxes and calculated the annual cost of fuel for transport based on 225 work days (42 weeks) a year, 2 different mileage constraints (“average” 22mpg or 10.7L/100K and 55mpg or 4.2L/100KM) broken down the percentages, and plotted them by distance on a map.

The first case I’ve tried is commuters to Nanaimo. So I’m using Nanaimos Median Household Income of $42,000 to calculate the percentages.

First is the Low Mileage Case. Second is the High Mileage Case. The Slideshow will walk you through $1.20, $1.50, $2.00, $3.00 and $8.00
Low Mileage Image
Click the images and you will be taken to short slideshows showing the effect of rising prices. (Quicktime/iTunes required)
High Mileage Image

The $1.50 scenario could happen by May long weekend.

The $2 and $3 scenario could easily happen due to a major disruption/attack/hurricane/etc… and the $8 scenario is what they currently have in Europe.

The question we must start to ask, is, if oil prices are going to stay high, or go higher… how will that affect working people. People who *must* live outside the City due to high mortgage/rent will be forced to pay more and more just to get to work. When is the point that we should start investing in alternatives to get people from their home, to their work. Or better yet, start bringing their home and work closer together.

Personally, i don’t think we can wait for markets and economies to force down prices in urban areas in order to shift people back in from the suburbs. The prices are simply rising too fast. Right now, what we need to do is look at our medium range options. And on Vancouver Island, that means the E&N and Island Corridor Foundation. Sign up at OurCorridor.ca to show your support.

Next I will be doing commuters to Victoria.

UPDATE: I’ve updated the images and movies. Two changes:
#1: I am now using Median Household Income AFTER TAX to better reflect the effect on disposable income.

#2: They now include a $1/L scenario which is close to $4/Gallon US since that price point is creeping up on our neighbours to the South.

Technorati Tags:

Filed under: Environment, Peak Oil, Politics
by chrisale on May 13th, 2008 EDT TrackBack URI