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Petey's
Pipeline E-zine
Issue #57
August 20, 2007
Contents
Business
First The
Credit Conundrum
Random Ramblings & Miscellaneous Musings
Sustainable Energy in the Post-oil Era
Write Thinking Parts of Speech
(Part II, the Verb)
Business
First (Editorial)
The
Credit Conundrum
Credit
makes the world go 'round.
Well, maybe not the world, but certainly
the United States. We Americans, with our got-to-have-it-now-maybe-I'll-pay-it-off-later-at-a-higher-price-than-I-can-realistically-afford
attitudes, desperately want it to be true, and so do the credit
card lenders.
If
you want to avoid getting buried under a mountain of debt, or
get some motivation to dig your way out in case you already
are, consider these shocking, deeply disturbing facts (gleaned
from the September/October 2007 issue of Mother
Jones Magazine), which were carefully dismantled and reassembled
in the hopes of avoiding plagiarism accusations:
Collectively, Americans' credit card debt amounts to $850 billion,
more than twice as much as the foreign debt owed by the world's
54 poorest countries.
On average, U.S. households owe more than $9600 in credit
card debt.
Within the credit card industry, a preferred customer
is defined as someone who's willing to make monthly payments
forever, and people who pay off their credit card debt monthly
are called "deadbeats."
Last year, Americans used credit card debt to pay for
$51 billion worth of fast food (up 2900% since 2001).
Credit card debt pays for food, rent, and utilities in
1/3 of low- and middle-income households.
Last year, credit card companies earned (earned?) $55.2
billion in fees and $90.1 billion in interest.
But
these aren't the only statistics that show cause for concern.
The following statistics (gleaned from other sources) paint
a picture of the U.S. floundering on a sea of red ink:
The U.S. spends $10-12 billion per month on the Iraq war.
Daily, the U.S. borrows $2.5 billion from sources abroad
to finance its growing debt.
China alone holds $1.3 trillion of U.S. debt.
The U.S housing market is about to become a shambles.
The U.S. manufacturing base has seen a 60% decline since
WWII.
U.S. infrastructure is crumbling.
Taken
together, these two sets of statistics reveal a nation on a
collision course with an economic iceberg. Without huge and
immediate course corrections it's only a matter of time until
the U.S. slams into that iceberg, sending economic shock waves
rippling across the country and around the world. It's a global
economic disaster waiting to happen.
• • •
For
an occasional dose of insight and opinion, read Petey's
Pipeline Blog.
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Let's not defeat that purpose by being hasty or becoming careless.
Random
Ramblings & Miscellaneous Musings
Sustainable
Energy in the Post-oil Era
by Phil Hanson
The
20th century was an aberration, an age of economic prosperity
made possible by an abundance of cheap fossil fuels. But now,
oil and natural gas supplies are in danger of becoming prohibitively
expensive within the next 10 or 15 years and possibly extinct
within the next 30 to 40 years. The increasing demands in our
country and all of Europenot to mention the increasing
demands of developing nations such as China, India, and those
of Southeast Asiawill only hasten the disappearance of
these essential energy resources.
Depending
on whom you talk to, global oil production is near, at, or already
beyond its peak. Once the oil is gone, what energy options remain?
Coal? Before you consider an affirmative answer to that one,
ask yourself how much more carbon dioxide we can dump into the
atmosphere before it goes beyond the tipping point.
Nuclear
doesn't seem to be such a great idea, either. Uranium, the source
of nuclear energy, is a finite resource. The greater the demand
for nuclear power, the shorter the time span during which supplies
of uranium ore will be available. And then there's the matter
of safely disposing of spent fuel rods and other nuclear waste.
When other safety concerns are factored in, it seems to me that
the negatives of nuclear power greatly outweigh any benefits
to be obtained from it.
Widely
touted as being a source for sustainable energy production,
hydrogen may (or may not) be the energy panacea everyone craves.
The transportation and storage of hydrogen on a mass scale remain
problematic, and current engine designs fall short in terms
of hydrogen fuel efficiency. Add in dollar costs and the amount
of energy expended to extract hydrogen from water, it seems
all but certain that the state of hydrogen technology is not
anywhere near where it needs to be. Viable hydrogen technology
could be decades away, but that doesn't mean it should automatically
be excluded from our list of clean renewable energy resources;
it only means that we shouldn't put all of our energy
eggs in that particular basket.
That
leaves various renewable energy alternatives to plug the energy
gap; wind, geothermal, solar, hydroelectric, wave-and-tide-powered
generators, and biofuels will help take up some of the slack,
but none of them are capable of replacing oil entirely. If energy
use continues to increase at current rates, all of them combined
won't supply enough energy to meet global energy needs.
Because
fossil fuels won't last forever and biofuels can't possibly
fill the energy gaps brought on by fossil fuel shortages, we,
as a society, must face some hard truths and begin to act in
ways that mitigate the discomforts and inconveniences that always
arise when making necessary changes.
Barring
a quantum leap forward in energy technology, the only realistic
way to resolve the energy crisis is to reduce overall demand
for energy. We can best do that by taking personal cars out
of the equation, and by reinventing our communities, our workplaces,
and our homes to make them more energy efficient.
Accepting
that unrestricted growth and unbridled consumerism are not sustainable
practices and agreeing to stop them now rather than trying to
cope with the problems they cause, later, will put us on the
fast track to sustainability. We can strive to achieve negative
population growth, increase the energy efficiency of our homes
and businesses, and be better informed and more conscientious
about the purchases we make.
Specific
proposals aside, we'd be well served to start exercising better
stewardship over our natural and human resources, and start
working smarter rather than harder. If we don't soon put "economy"
back into the economy, we won't have to worry about the futurethere
won't be one.
Copyright
© 2007 by Phil Hanson
All rights reserved.
Write
Thinking
Parts
of Speech (Part II)
Each
word used in a sentence has a specific grammatical function.
The eight parts of speech into which various words are classified
are noun, verb, adjective, adverb, pronoun, preposition, conjunction,
and interjection. Grammatical function, position within a sentence,
and inflection (if any) all help determine how a word is classified.
The
Verb
Typically,
a verb is a word that denotes or conveys the state of being
of a noun, or an action affecting a noun, that is the subject
of the verb. A verb and its subject must always agree in number
and in kind.
Verbs
show inflection (e.g., start, starts, starting, started); past,
present, or future tense; first, second or third person; number,
either singular or plural; active or passive voice; and indicative,
subjunctive, or imperative mood, among other things.
A
complex subject, verbs require (and deserve) a more detailed
accounting than I am qualified or inclined to give in this limited
amount of space. For a thorough coverage of verbs, refer to
The
Merriam-Webster Concise Handbook for Writers.
Copyright
© 2007 by Phil Hanson
All rights reserved.
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