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Priced Out of the Market

The world’s food situation is bleak, and shortsighted policies in the United States and other wealthy countries — which are diverting crops to environmentally dubious biofuels — bear much of the blame.

According to the United Nations Food and Agriculture Organization, the price of wheat is more than 80 percent higher than a year ago, and corn prices are up by a quarter. Global cereal stocks have fallen to their lowest level since 1982.

Source: New York Times  

9/11, Intelligence

February 28

FBI documents contradict 9/11 Commission report

Newly-released records obtained through a Freedom of Information Act request contradict the 9/11 Commission’s report on the Sept. 11, 2001 attacks and raise fresh questions about the role of Saudi government officials in connection to the hijackers.

The FBI timeline reveals that alleged hijacker Hamza Al-Ghamdi, who was aboard the United Airlines flight which crashed into the South Tower of the World Trade Center, had booked a future flight to San Francisco. He also had a ticket for a trip from Casablanca to Riyadh, the capital of Saudi Arabia.

Source: Raw Story  

The three trillion dollar war

The Bush Administration was wrong about the benefits of the war and it was wrong about the costs of the war. The president and his advisers expected a quick, inexpensive conflict. Instead, we have a war that is costing more than anyone could have imagined.

The cost of direct US military operations - not even including long-term costs such as taking care of wounded veterans - already exceeds the cost of the 12-year war in Vietnam and is more than double the cost of the Korean War.

Source: Times Online  

Study doubts effectiveness of antidepressant drugs

Antidepressant medications appear to help only very severely depressed people and work no better than placebos in many patients, British researchers said.

The researchers found that compared with placebo, these new-generation antidepressant medications did not yield clinically significant improvements in depression in patients who initially had moderate or even very severe depression. The study found that significant benefits occurred only in the most severely depressed patients.

Source: Reuters  

Environment, Peak Oil

February 26

Are the days of easy-to-reach oil at an end?

Matthew Simmons, who is known mainly for his book Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy, is in Dubai this week to hobnob over lunch with big names in oil, gas, investments and banking.

While Simmons is the founder of an investment banking practice, what he’s most known for is his stance that peak oil is not only imminent, but upon us. “Price has no impact on slowing demand,” he told Texas Monthly magazine earlier this year. “We’ve seen a stealth growth of 18 million barrels a day, while the demand between the end of 1995 and last week went up tenfold.

Source: Gulf News  
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