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Tag Archives: global economy

G20 Demonstrators Full of Violence, Lack in Thought

The G20 protests in central London turned violent today ahead of tomorrow’s summit, with a band of demonstrators close to the Bank of England storming a Royal Bank of Scotland branch, and baton-wielding police charging a sit-down protest by students.

Much of the protesting, from an estimated 4,000 people in the financial centre of the capital, was peaceful, but some bloody skirmishes broke out as police tried to keep thousands of people in containment pens surrounding the Bank of England on Threadneedle Street. A minority of demonstrators seemed determined to cause damage, seeking confrontation as they surged towards police lines. Late tonight, much of the City remained cordoned off.

Perahps the G20 is something worthy of demonstrating, but who are these kids?  Half of them are wearing Nike, Puma, and Atlanta Braves gear.  Give me some people living off the land with some locally made clothes and then I will listen to you as opponents of capitalism and the global economy.  It is a worthy event to protest, just don’t look like whiny hypocrites that participate in the system that you are protesting.

The majority of these protesters are just wannabes. They missed the great protests of are time and are overly attracted to the “mystique of protesting”. Most have no depth of understanding of the issues and are really nothing more than caricatures.   These pictures show a sad kind of protest. It’s more smashing and looting than protesting. I always wonder if these people after a protest think, what did it change? They are not winning peoples hearts and minds with this.

Why the European Union also needs to be Energy Independent

In the US, we have been talking about our current energy crisis, and our need to become energy independent.  The general population certainly is becoming aware of this need, $4 a gallon gas helps to get people focused on an issue.  Hopefully our political leaders will start to put action behind their rhetoric. However, the US is not the only country that needs to be concerned about energy independence.   With the recent crisis in Georgia, it is clear that this conflict has a large impact on the energy situation in Europe.

As we discussed last week, Russia currently has a stranglehold on the EU’s energy supply.  The Russians now supply about 25 percent of the European Union’s crude oil needs and half of its natural gas.  If the European Union has not figured out the strategic importance of this fact, the Russians obviously have.  Just as OPEC held the West hostage in the 70’s, Russia now has the ability to wield the same control over Europe.  Their first step was invading Georgia and daring NATO to do anything about it.  So far, Europe has once again shown their leadership in the fine art of appeasement.   And the US, which is busy fighting multiple battles, does not have the stomach to get involved. 

There are three basic reasons why the US, EU, and others such as China, India, and Japan need to become energy independent.

1) Stop sending Trillions of dollars to non-democratic countries that are usually unstable dictators, or hostile regimes.  This money transfer is unhealthy to the global economy.  It allows a small group of people in these petro-kingdoms to hold their own people hostage.  Is it any surprise that almost no country who’s main export is oil is a free democracy that values human rights?

2) Our reliance on carbon based energy sources is a contributor to global warming.  In addition, the extraction of oil from areas such as the Middle East, Nigeria, and South America creates huge environmental issues.  These countries do not have strong environmental regulations like we have in the West.

3) New energy technology will drive our economy over the coming decades.  Instead of sending petro-dollars overseas, that money should be invested in our economy, and on new technology that will help make the world a safer and cleaner place to live.