Wednesday, March 31, 2010

Watching The Well, Late March 2010

This month, it was announced that an island in the Bay of Bengal was swallowed up by the sea, due to rising sea levels caused by climate change. Five other nearby islands are also threatened with submersion.

This month, NASA scientists stated the very high likelihood that this year, 2010 could be the warmest year on record. FYI, 2009 was the warmest year on record in the Southern Hemisphere, and the second warmest year overall.

This month, the U.S. Federal Reserve announced the end of its program of buying U.S. mortgage-backed securities. The buying of these securities by the Fed was a major factor in propping up the U.S. financial system, and was quite possibly the single biggest factor in keeping American home prices elevated.

This year, the U.S. Energy Information Administration finally joined a chorus of official voices from official government and oil industry agencies who are saying that the world could start to see a decline in global oil production...right about now (actually, to be quite precise, starting in 2011). However, neither the EIA nor the U.S. government in general can yet bring themselves to say the words, “Peak Oil.”

This year, none of these pivotal stories has been covered in any meaningful way in mainstream American media. However, Scripps Networks have just launched a new “reality” TV show on their Travel Channel, called, “America's Worst Drivers.” Our media continues to lull us to sleep by petty distractions such as these, and many of us are as a mouse nodding off to the sound of the purr of a nearby cat. So few of us realize that the cat's jaws are about to close on us.

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