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Whistling past the graveyard

Rob Day: February 10, 2009, 10:56 AM
Happened upon a very sobering account of the economic crisis today on PoliticalWire, well worth reading:
On C-Span, Rep. Paul Kanjorski (D-PA) explained how the Federal Reserve told members of Congress about an electronic run on the banks "to the tune of $550 billion dollars" within "an hour or two" last fall. According to Kanjorski, on September 18, 2008 the Fed tried to "stem the tide" by pumping money into the financial system but it didn't work and decided instead to announce an immediate increase in deposit insurance to $250,000 per account to stop the panic. Said Kanjorski: "If they had not done that, their estimation is that by 2 p.m. that afternoon, $5.5 trillion would...

Two great links

Rob Day: February 10, 2009, 4:53 AM
If you want to get a great download of data on water trends and challenges, it's worth spending a few minutes watching Prof. Hermanowicz's presentation here. And if you want to understand why it's a bit misguided to say that cleantech as a whole is unattractive in a low oil price environment, see the below oldie-but-a-goodie chart.  And notice how little oil goes into any energy consumption outside of transportation.  (It's also always fun to note how much "Lost energy" there is in the system)  Yes, there are linkages to pricing throughout the system, but despite what the TV may tell you, oil isn't the only price-setter in the energy world.