See also:: Thousands in Mexico City Protest Rising Food Prices, IRIN: Food Security Africa,:: Averting «Livestock Meltdown»: Biodiversity Key To Global Food Security,:: Agriculture for Development: World Development Report Gets It Half Right,:: Global Warming Could Cause World Crop Collapse,::
The True Price of Oil: Poverty and Death in Nigeria,:: Food Fight: Is Corn Food or Fuel?
Not exact matches
«A carbon
price would make the
price of oil better reflect its
true societal costs (including global warming impacts, health cost due to air pollution, as well as other environmental costs).
The ninety - nine cent
price of a fast - food hamburger simply doesn't take account
of that meal's
true cost — to soil,
oil, public health, the public purse, etc., costs which are never charged directly to the consumer but, indirectly and invisibly, to the taxpayer (in the form
of subsidies), the health care system (in the form
of food - borne illnesses and obesity), and the environment (in the form
of pollution), not to mention the welfare
of the workers in the feedlot and the slaughterhouse and the welfare
of the animals themselves.
That's especially
true if the technique involves predicting the future, or trying to speculate on the
price movements
of volatile commodities like
oil.
It is
true that in January 2000 gold was hovering around $ 280 an ounce and
oil was averaging $ 11 dollars a barrel, and since then the
price of gold has increased by five times, and
oil by eight times.
It's certainly
true that perhaps 70 %
of the dispersion
of returns over a 5 - to - 10 year period are driven by macro-economic factors (Putin invades - > the EU sanctions - > economies falter - > the
price of oil drops - > interest rates fall) but that fact is not useful because such events are unforecastable and their macro-level impacts are incalculably complex (try «what effect will European reaction to Putin's missile transfer offer have on shadow interest rates in China?»).
That's especially
true of oil prices.
Gasoline indirect cost calculated based on International Center for Technology Assessment (ICTA), The Real
Price of Gasoline, Report No. 3 (Washington, DC: 1998), p. 34, and updated using ICTA, Gasoline Cost Externalities Associated with Global Climate Change: An Update to CTA's Real
Price of Gasoline Report (Washington, DC: September 2004), ICTA, Gasoline Cost Externalities: Security and Protection Services: An Update to CTA's Real
Price of Gasoline Report (Washington, DC: January 2005), Terry Tamminen, Lives Per Gallon: The
True Cost
of Our
Oil Addiction (Washington, DC: Island Press, 2006), p. 60, and Bureau for Economic Analysis, «Table 3 —
Price Indices for Gross Domestic Product and Gross Domestic Purchases,» GDP and Other Major Series, 1929 — 2007 (Washington, DC: August 2007); U.S. Department
of Energy (DOE), Energy Information Administration (EIA), This Week in Petroleum (Washington, DC: various issues).
And all
of these options would spread even more rapidly if we stopped subsidizing Big
Oil and Coal and put a
price on carbon that reflected the
true cost
of fossil energy — either through the much - maligned cap - and - trade approach, or through a revenue - neutral tax swap.
Almost every idea that might bring us a better future would be made much easier if the cost
of fossil fuel was higher — if there was some kind
of a tax on carbon emissions that made the
price of coal and
oil and gas reflect its
true environmental cost.»
True, we're running out
of cheap
oil, and higher
prices mean that it is now easier for clean technology to undercut, and eventually replace,
oil.
This is particularly
true in light
of the recent and largely unforeseen, collapse in the
price of crude
oil, which has had a massive impact in a largely
oil - dependent country like Nigeria, such that clients are now focusing a great deal on insolvency, restructuring, prepayment facilities, derivatives and hedging instruments and issues.
This is especially
true in a changing market when local
prices either take off dramatically or plunge precipitously, like during the Texas
oil bust
of the 1980s.