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Archive for September, 2011

Charge In Advance

From Sun-Sentinel article, “Nuke program wrong move, wrong place” by Philip Stoddard, Mayor of South Miami:

Under our American capitalist model, corporations issue bonds to raise money for new projects. But here in Florida, our Legislature allows a publicly traded utility to take our money, never repay the principal and charge us 10 percent interest on whatever it builds with our dollars. So long as a “regulated” utility can claim to be planning a new nuclear reactor, it can bypass Wall Street and take the money directly from ratepayers like us ahead of time.

This amazing scam is perfectly legal under Florida Statute 366.93, known as the Early Cost Recovery. An electric utility can take our money up front for any and all of the following:

“All capital investments, including rate of return, any applicable taxes, and all expenses, including operation and maintenance expenses, related to or resulting from the siting, licensing, design, construction or operation of the nuclear power plant, including new, expanded or relocated electrical transmission lines or facilities of any size that are necessary thereto.”

The full article is here: http://www.sun-sentinel.com/news/outlook/fl-fpl-nuclear-energy-mistake-stoddard-07-20110830,0,4372245.story

X-treme X-traction

Cry for Industry

Malians Per Gallon

The Epoch Times:
Land Grabs in Africa Threaten Greater Poverty, Part 1 of 2



This land grab or land rush began in earnest a decade ago, but gained momentum following record high food prices in 2008, combined with increasing hunger, the ongoing financial crisis, and a surge in biofuel demand. It describes investors, governments, or companies, buying or leasing vast tracks of arable land in foreign countries for the purpose of exporting the produce back to their own country, or simply for financial speculation.

The phenomena is most prevalent in sub-Saharan Africa, as well as in Brazil and Russia; the foreign countries most involved in claiming the land are China, South Korea, India, Saudi Arabia, Kuwait, and Qatar.

While the exact figures are hard to determine, in 2009, the World Bank estimates that over 110 million acres of land were under negotiation for allocation, 70 percent of which were in Africa. The International Land Coalition (ILC) puts the number at almost 200 million acres, 64 percent in Africa.

According to the World Bank, 21 percent of land deals in 2009 globally were for biofuel production; the ILC figure for 2009 is 44 percent, with Southern Africa being called the new Middle East of biofuels.

Land Grabs in Africa Usher in a New Form of Colonialism, Part 2 of 2