"The Global Consciousness Project, also known as the EGG Project, is an international multidisciplinary collaboration of scientists, engineers, artists and others continuously collecting data from a global network of physical random number generators located in 65 host sites worldwide. The archive contains over 10 years of random data in parallel sequences of synchronized 200-bit trials every second."
Posted by Warm Southern Breeze on Tuesday, July 29, 2014
The Department of Defense is a bloated organization, rife with fraud, waste and abuse.
Even then-Secretary of Defense (SECDEF) Donald Rumsfeld remarked on Monday, September 10, 2001, that, “According to some estimates, we cannot track $2.3 trillion in transactions. … We maintain 20 to 25 percent more base infrastructure than we need to support our forces, at an annual waste to taxpayers of some $3 billion to $4 billion. Fully half of our resources go to infrastructure and overhead, and in addition to draining resources from warfighting, these costly and outdated systems, procedures and programs stifle innovation as well.” ref: http://www.defense.gov/speeches/speech.aspx?speechid=430
More recently, on December 21, 2010, the Governmental Accountability Office wrote that they “cannot render an opinion on the 2010 consolidated financial statements of the federal government, because of widespread material internal control weaknesses, significant uncertainties, and other limitations.”
In his capacity as Acting Comptroller of the United States, Gene Dodaro wrote that, “(1) serious financial management problems at the Department of Defense (DOD) that have prevented DOD’s financial statements from being auditable, (2) the federal government’s inability to adequately account for and reconcile intragovernmental activity and balances between federal agencies, and (3) the federal government’s ineffective process for preparing the consolidated financial statements.”
Included in that scathing report of fiscal recklessness and laziness were “material weaknesses involving an estimated $125.4 billion in improper payments, information security across government, and tax collection activities,” which were rife in “three major agencies DOD, the Department of Homeland Security, and the Department of Labor did not get clean opinions. Nineteen of 24 major agencies did get clean opinions on all their statements.”
No entrepreneur, accountant, fiscal analyst, businessman or Chief Financial Officer in their right mind would tolerate what has been allowed to happen with it. Consider the F-35 Lightning II aircraft as a case in point.
At a cost now exceeding $400,000,000,000 ($400 Billion – that’s very nearly 1/2 Trillion), it is by far, THE most costly program EVER to have emerged from the DoD. Among the numerous reasons why it is THE most expensive program ever, are Read the rest of this entry »
Posted by Warm Southern Breeze on Monday, July 28, 2014
Let’s talk about drug abuse.
Abuse of any kind is improper use, or dependency. In some cases, so-called “recreational” use is “abuse,” for there is no other kind of use, since a drug may be already illegal.
For the greatest part, those drugs, which are sometimes mistakenly called ‘narcotics’ (technically, narcotics are derivatives of and synthetic chemical relatives to the opium plant) are already illegal, and include LSD and other hallucinogens, heroin, methamphetamine (as “crystal meth”), etc. And, at the Federal level, like it, or not, agree or disagree, marijuana is included in that list.
Further, alcohol must be included in the list of abused substances, simply because we know that people’s lives can be, and are destroyed by alcohol abuse, directly and indirectly.
There’s a database of information based upon hospital admissions related to drug abuse. It’s called the Treatment Episode Data Set, or TEDS, and the information is collected anonymously by each facility in a state that receives “State alcohol and/or drug agency funds (including Federal Block Grant funds) for the provision of substance abuse treatment.”
It is not an exhaustive data set by any means, and there are limitations upon it, yet it does provide some reliable degree of accuracy to the extent, scope and nature of the problem. Consequently, information in “the tables focus on treatment admissions for substance abusers.”
In other words, someone abuses a substance on the list to the extent that they need some degree of care, including hospitalization, and that anonymous information about their admission gets collected and reported. For the purposes of that report, anonymous information is age, sex, ethnicity/race and drug(s) which led to the need for treatment.
Posted by Warm Southern Breeze on Wednesday, July 16, 2014
What should one expect when the whole damn defense industry has been whored out to arm the krazees of the world?
In a very prophetic manner, in his Farewell Address to the nation, January 17, 1961, then-President Dwight David Eisenhower warned about the “military industrial complex,” saying:
“We annually spend on military security more than the net income of all United State corporations.
“This conjunction of an immense military establishment and a large arms industry is new in the American experience. The total influence-economic, political, even spiritual-is felt in every city, every state house, every office of the Federal government. We recognize the imperative need for this development. Yet we must not fail to comprehend its grave implications. Our toil, resources and livelihood are all involved; so is the very structure of our society.
“In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists and will persist.
“We must never let the weight of this combination endanger our liberties or democratic processes. We should take nothing for granted only an alert and knowledgeable citizenry can compel the proper meshing of huge industrial and military machinery of defense with our peaceful methods and goals, so that security and liberty may prosper together.”
US sells $11 BILLION worth of arms to Qatar
Published time: July 15, 2014 09:46
Edited time: July 16, 2014 12:55
US Defense Secretary Chuck Hagel (L) and Qatar’s Minister of State for Defense Affairs Hamad bin Ali al-Atiyah (C) arrive for a weapons sales signing ceremony at the Pentagon on July 14, 2014 in Washington, DC. (AFP Photo / Mandel Ngan)
US Defense Secretary Chuck Hagel (L) and Qatar’s Minister of State for Defense Affairs Hamad bin Ali al-Atiyah (C) arrive for a weapons sales signing ceremony at the Pentagon on July 14, 2014 in Washington, DC. (AFP Photo / Mandel Ngan)
Washington and Doha have signed the largest arms deal of the year, preparing to enhance Qatar’s military capabilities with $11 billion-worth of Apache assault helicopters, PAC-2 missile defense complexes and Javelin man-portable anti-tank missiles.
The deal has been signed on Monday in Pentagon by US Defense Secretary Chuck Hagel and Qatari Defense Minister Hamad bin Ali al-Attiyah. Altogether Qatar is buying 10 batteries of Patriot missile defense systems and 500 Javelin anti-tank missiles manufactured by US defense industry giants Raytheon and Lockheed Martin, and 24 Apache helicopters made by Boeing, an anonymous US official told the AFP.
Posted by Warm Southern Breeze on Monday, July 7, 2014
Years ago, I said “build a Federal Barracks for members of Congress, and have them march to work.” I still think having modest Federal Housing for members of Congress is a good idea.
Regarding their level of pay/compensation, the article’s point – that D.C. is an expensive place to live – is well taken, and it is my considered opinion in light of that fact which gives further credence to the idea of modest Federal Housing for members of Congress. In fact, if their salaries were, by law, capped at twice the median American household income (which, according to the article is now approximately $51,000), it could be an even better idea.
However, with this present miasmatic congress, I hold out little hope for any such creative laws limiting congressional compensation, or introducing Federal Congressional Barracks/Housing to be introduced – though I believe it should be done, and is long overdue, along with Term Limitations. A total of 20 years elected federal service is long enough for anyone. Two terms in the Senate (12 years), and four terms in the House (8 years) should be enough for anyone, would reintroduce vibrancy into the process of national governance, and introduce more people to the process of elected public service.
Congressman’s Lament: $174,000 Isn’t Enough To Make Ends Meet
by Liz Halloran
April 04, 2014 3:05 PM ET
In what world does an annual salary of $174,000 meet the definition of underpaid?
That would be in the nation’s capital, where soon-to-be-retired Rep. Jim Moran, D-Va., said Americans should know that their members of Congress — as the board of directors for the “largest economic entity in the world” — are underpaid.
The longtime congressman made his comments Thursday after the House voted for the sixth straight year to deny members an automatic cost-of-living raise they’re entitled to under law.
Memo: From Nick Hanauer
To: My Fellow Zillionaires
You probably don’t know me, but like you I am one of those .01%ers, a proud and unapologetic capitalist. I have founded, co-founded and funded more than 30 companies across a range of industries—from itsy-bitsy ones like the night club I started in my 20s to giant ones like Amazon.com, for which I was the first nonfamily investor. Then I founded aQuantive, an Internet advertising company that was sold to Microsoft in 2007 for $6.4 billion. In cash. My friends and I own a bank. I tell you all this to demonstrate that in many ways I’m no different from you. Like you, I have a broad perspective on business and capitalism. And also like you, I have been rewarded obscenely for my success, with a life that the other 99.99 percent of Americans can’t even imagine. Multiple homes, my own plane, etc., etc. You know what I’m talking about. In 1992, I was selling pillows made by my family’s business, Pacific Coast Feather Co., to retail stores across the country, and the Internet was a clunky novelty to which one hooked up with a loud squawk at 300 baud. But I saw pretty quickly, even back then, that many of my customers, the big department store chains, were already doomed. I knew that as soon as the Internet became fast and trustworthy enough—and that time wasn’t far off—people were going to shop online like crazy. Goodbye, Caldor. And Filene’s. And Borders. And on and on.
Nick Hanauer With over 30 years of experience across a broad range of industries including manufacturing, retailing, e-commerce, digital media and advertising, software, aerospace, health care, and finance. Hanauer’s experience and perspective have produced an unusual record of serial successes. Hanauer has managed, founded or financed over 30 companies, creating aggregate market value of tens of billions of dollars. Some notable companies Include Amazon.com, Aquantive Inc., (purchased by Microsoft in 2007 for $6.4 billion), Insitu group (purchased by Boeing for $400 million), Market Leader (purchased by Trulia in 2013 for $350 million). Some other companies include Marchex, Newsvine, Qliance, Seattle Bank and Pacific Coast Feather Company. – Photo by Robbie McClaran
Realizing that, seeing over the horizon a little faster than the next guy, was the strategic part of my success. The lucky part was that I had two friends, both immensely talented, who also saw a lot of potential in the web. One was a guy you’ve probably never heard of named Jeff Tauber, and the other was a fellow named Jeff Bezos. I was so excited by the potential of the web that I told both Jeffs that I wanted to invest in whatever they launched, big time. It just happened that the second Jeff—Bezos—called me back first to take up my investment offer. So I helped underwrite his tiny start-up bookseller. The other Jeff started a web department store called Cybershop, but at a time when trust in Internet sales was still low, it was too early for his high-end online idea; people just weren’t yet ready to buy expensive goods without personally checking them out (unlike a basic commodity like books, which don’t vary in quality—Bezos’ great insight). Cybershop didn’t make it, just another dot-com bust. Amazon did somewhat better. Now I own a very large yacht.
But let’s speak frankly to each other. I’m not the smartest guy you’ve ever met, or the hardest-working. I was a mediocre student. I’m not technical at all—I can’t write a word of code. What sets me apart, I think, is a tolerance for risk and an intuition about what will happen in the future. Seeing where things are headed is the essence of entrepreneurship. And what do I see in our future now?
Chris Arnade received his PhD in physics from Johns Hopkins University in 1992. He spent the next 20 years working as a trader on Wall Street. He left trading in 2012 to focus on photography. His “Faces of Addiction” series explores addiction in the south Bronx neighbourhood in New York City. Follow him on Twitter: @Chris_arnade
As a college student, Chris Arnade picked Florida watermelons to pay for school. His daughter can’t do the same. Photograph: Alamy
When I entered Wall Street in 1993 with a PhD, I was an anomaly. One of my bosses was a failed baseball player, another a frustrated jazz musician. One of the guys running one of the most profitable businesses, in both my firm and all of Wall Street, was a former elevator repairman. Their college degrees – if they even had them – were from all sorts of schools, not simply the Ivy leagues.
By the time I left Wall Street a few years ago, the only people being hired were the “play it safe kids”. The ones with degrees from Princetons and Harvards. You know, the ones who had organized a soup kitchen in eighth grade (meaning, really their parents had) to load their resumes. The ones who had gone to the state science fair (meaning their parents or nannies had spent many weekends and nights helping with a science project). Few of these hires where rags-to-riches stories. Most had parents very much like those already working on Wall Street – wealthy and dedicated to getting their children whatever they needed, regardless of cost. Many were in fact the children of Wall Street parents.
It is not just Wall Street. Most of the best paying jobs now require a college degree, or post-college degree, and still rarely hire from state schools. They want Ivy schools, or similar. That feels safe.
This is a problem. Businesses have abdicated their primary role in hiring, handing it over to colleges, which have gladly accepted that role, and now charge a shit-load for it. Want a job kid? Pay $60,000 a year for four years. Then maybe pay for another two to get a MBA.
Yet, those best schools do not teach kids anything radically different from what the average colleges do. They do not prepare them better for the day-to-day work of Wall Street. Those finance skills are learned with experience and instinct after two years of training – on the job.
Rather, a prestigious education is a badge given to students who can follow the established rules, run through the maze, jump through hoops, color between the lines, and sit quietly. It shows that they really, really want to be a grown-up. For that, they pay $60,000 per year.
It has become a test. Are you part of the meritocracy?
It also has become a barrier of entry to professionalism – a very costly barrier of entry.
• Today, in Tennessee, over 100,000 students benefit annually, and Republican Governor Bill Haslam signed a bill written by Republican TN legislators which will pay for 2 years of community/junior/technical college education for every Tennessee high school graduate.
That brief poem, or epigram, by Edwin Markham summarizes succinctly the idea upon which I will expound in this entry.
In the past several days, it came to light that a Shoals area Alabama entrepreneur, Garrett Shirey – who, with his brothers Reese & Austin, are founders and co-owners of Shirey Ice Cream in the northwest Alabama town of Florence, population 39,447 – had Tweeted at least two uncharacteristic and very unbecoming messages. The specific dates and times they were made, and the content can be seen in the screen shot images of the Tweets, both which appear later in this entry.
Posted by Warm Southern Breeze on Saturday, May 3, 2014
More power to you!
The GOP has been hijacked by extremist elements.
It’s time to put those sorry, low-life punks in prison for collusion, terrorism and anti-American activity.
‘Smart’ Firearm Draws Wrath of the Gun Lobby
By JEREMY W. PETERS
APRIL 27, 2014
Belinda Padilla is trying to market a new .22-caliber handgun that uses a radio frequency-enabled stopwatch to identify the authorized user so no one else can fire it. Credit Monica Almeida/The New York Times
BEVERLY HILLS, Calif. — Belinda Padilla does not pick up unknown calls anymore, not since someone posted her cellphone number on an online forum for gun enthusiasts. A few fuming-mad voice mail messages and heavy breathers were all it took.
Then someone snapped pictures of the address where she has a P.O. box and put those online, too. In a crude, cartoonish scrawl, this person drew an arrow to the blurred image of a woman passing through the photo frame. “Belinda?” the person wrote. “Is that you?”
Her offense? Trying to market and sell a new .22-caliber handgun that uses a radio frequency-enabled stopwatch to identify the authorized user so no one else can fire it. Ms. Padilla and the manufacturer she works for, Armatix, intended to make the weapon the first “smart gun” for sale in the United States.
But shortly after Armatix went public with its plans to start selling in Southern California, Ms. Padilla, a fast-talking, hard-charging Beverly Hills businesswoman who leads the company’s fledgling American division, encountered the same uproar that has stopped gun control advocates, Congress, President Obama and lawmakers across the country as they seek to pass tougher laws and promote new technologies they contend will lead to fewer firearms deaths.
Lately, there has been little standing in the way of the muscle of the gun lobby, whose advocates recently derailed Mr. Obama’s nominee for surgeon general, Vivek Murthy, a Boston doctor who has expressed alarm about the frequency of shooting deaths.
And despite support from the Obama administration and the promise of investment from Silicon Valley, guns with owner-recognition technology remain shut out of the market today.
“Right now, unfortunately, these organizations that are scaring everybody have the power,” Ms. Padilla said. “All we’re doing is providing extra levels of safety to your individual right to bear arms. And if you don’t want our gun, don’t buy it. It’s not for everyone.”
In Georgia on Wednesday, Gov. Nathan Deal signed into law a bill that allows people to carry guns in bars, government buildings and even some churches. The National Rifle Association called the measure historic.
Posted by Warm Southern Breeze on Friday, April 25, 2014
I’m not a funnyman like Jon Stewart of the Comedy Channel.
However, Stewart does a good job – indeed, an excellent job – of excoriating right-wing zealot Sean Hannity over his inconsistencies of argument in support of Cliven Bundy… the man who knows everything about the Negro.
In fact, Stewart does a damn fine job… in a manner that perfectly shines a light upon Mr. Hannity’s hypocrisy.
And, if you’re kinda’ froggy, and like to get the facts (just the facts, ma’am… just the facts), here’s some research I performed for my benefit.
I’m selfish like that.
I didn’t do it for anyone else but me.
At issue is Cliven Bundy’s claim to land use – not ownership.
The area in question is 150 square miles in the 500,000 acre Gold Butte area along the Virgin River in Nevada.
Bundy claims that his family “homesteaded” that land since 1877, and by virtue of that claim, unlimited right of use to the land belongs to him.
In essence, Bundy claims a right to graze the land where he has allowed his cattle to roam – and therefore, because his cattle have been there, he claims unlimited use of the land belongs to him, although he cannot produce any document demonstrating any essence or component of such claim, nor of ownership – such as a survey, easement, bill of sale, quitclaim deed, bills for taxes, or taxes paid.
For over 20 years, Bundy has allowed his cattle to graze on that tract of Federal land – land to which he has no ownership, deed or right of use – and since 1993 has ceased paying grazing fees, which, by his own admission, is in arrears at least $300,000.
Here’s a partial time line to the current date which highlights significant events in the ordeal.
■ Cliven Bundy pays grazing fees to the BLM for the next 20 years.
■ The BLM modifies Bundy’s grazing permit by reducing the size allowed for his herd to 150 and restricts where his cattle can graze in the Gold Butte area. He refuses the permit and stops paying grazing fees. The BLM cancels his permit. Read the rest of this entry »
Posted by Warm Southern Breeze on Thursday, April 17, 2014
Historically, our nation has prospered when tax rates on the ULTRA wealthy and corporations were highest.
In the period following World War II, under President Dwight David Eisenhower – a Republican, and former Supreme Allied Commander / 5ive Star General – Corporate Tax rates have continually declined.
Now, during the Obama administration, they are at the LOWEST they have EVER been.
Corporate Income Tax Rates have continually declined the peaked during the Eisenhower administration. The formula is: b/(a+b) Where (a) Corporate Profits After Tax (without IVA and CCAdj), Billions of Dollars, Seasonally Adjusted Annual Rate (CP); And (b) Federal Government: Tax Receipts on Corporate Income, Billions of Dollars, Not Seasonally Adjusted (FCTAX)
Tax Havens Leave U.S. Filers $1,259 Tab Each, Report Says
By Derek Wallbank – Apr 15, 2014
U.S. taxpayers would need to pay an average of $1,259 more a year to make up the federal and state taxes lost to corporations and individuals sheltering money in overseas tax havens, according to a report.
Posted by Warm Southern Breeze on Monday, April 14, 2014
It’s easy to talk about “the jobs situation” in Alabama. It’s especially easier to talk about it when it doesn’t affect you… directly. It’s like armchair quarterbacking.
There’s probably much truth to the statement that Alabama’s legislators aren’t directly affected by job loss in the state. They have jobs. As musician Steve Miller sang in his song “Take the Money and Run,” they make their “living off other people’s taxes.” That goes for Republicans AND Democrats. Such an observation, of course, is not to demean those who do “make their living off other people’s taxes,” because our military, public safety and others vital to our local, state and national well-being are among them. It is however, an acknowledgment of, and call to responsibility – not merely accountability – because accountability is the only remnant once responsibility has departed. And that is how the “Blame Game” is played.
In this entry, we examine some details on the extent of the damage done to families & individuals under his administration.
And so, let’s again refer to some previously-mentioned facts & figures, and introduce some new ones so that we can better understand the nature, scope and and extent of the situation, and corresponding problems Read the rest of this entry »
When pressed on the matter, he later defined “full employment” as having state unemployment somewhere around 5%. It is a promise to which, as of the date of this entry – 12 April 2014 – he has kept. In other words, Alabama has NOT reached “full employment,” and he has not been paid a salary. He has, however, been compensated for out-of-pocket expenses (the governor’s office has a budget, so why would he personally have any such expenses for work in an official capacity?), though he has received – as legislator, a legally-mandated $1.00 per month salary. Since his election to the governorship, he has not received a salary.
During Governor Robert Bentley’s watch, International Paper – the large paper mill formerly known as Champion Paper, in Courtland, and the largest employer in Lawrence County – closed and cost the area economy & state 1100 jobs. Those jobs were Read the rest of this entry »
ALBUQUERQUE, N.M. (AP) — Nearly a million jars of peanut butter were dumped at a New Mexico landfill this week to expedite the sale of a bankrupt peanut-processing plant that was at the heart of a 2012 salmonella outbreak and nationwide recall.
Bankruptcy trustee Clarke Coll said he had no other choice after Costco Wholesale refused to take shipment of the Sunland Inc. product and declined requests to let it be donated to food banks or repackaged or sold to brokers who provide food to institutions like prisons.
“We considered all options,” Coll said. “They didn’t agree.”
Peanut butter is disposed of Friday March 28, 2014 at the dump in Clovis, N.M. Nearly a million jars of peanut butter are being dumped at a New Mexico landfill to expedite the sale of a bankrupt peanut-processing plant that was at the heart of a 2012 salmonella outbreak and nationwide recall. (AP Photo/Clovis News-Journal, Tony Bullocks)
MelindaJoy Pattison, executive director of the Food Bank of Eastern New Mexico, on Friday called the dumping of the peanut butter “horrendous.” She said as long as there was nothing wrong with the peanut butter, her operation would have found a way to store it, remove the labels and distribute it to the people who depend on the food bank.
“Those trucks carrying it to the dump went right by the front door of my food bank,” she said. “It wasn’t like it would have been out of the way.”
Pattison said peanut butter is a major source of protein and a staple for hungry people. Her food bank places single-serve peanut butter cups in packages it gives to children whose parents rely on its services.
“For it to just be deliberately thrown away is disappointing,” she said.
Costco officials did not return telephone calls seeking comment. But court filings indicate the product was made with $2.8 million worth of Valencia peanuts owned by Costco and had been sitting in the warehouse since the company shut down and filed for bankruptcy last fall.
After extensive testing, Costco agreed to a court order authorizing the trustee to sell it the peanut butter. But after getting eight loads, Costco rejected it as “not merchantable” because of leaky peanut oil.
Coll said “all parties agreed there’s nothing wrong with the peanut butter from a health and safety issue,” but court records show that on a March 19 conference call Costco said “it would not agree to any disposition … other than destruction.”
So instead of selling or donating the peanut butter, with a value estimated at $2.6 million, the estate paid about $60,000 to haul the 950,000 jars of nut butter — or about 25 tons — to the Curry County landfill in Clovis, where Read the rest of this entry »
Posted by Warm Southern Breeze on Monday, March 17, 2014
Recently, I received an email message from a friend, one who is highly intelligent, and who has a phenomenal diversity of life experiences. The item had a video to a Faux News video segment, which is included in this post, at the conclusion.
My response to the half-truthed item follows.
Here’s hoping you and others find it informative, and helpful.
While I have neither been the type to proclaim THE SKY IS FALLING! THE SKY IS FALLING! nor believe there is conspiracy against me, nor the paranoid type that imagines “the government” is out to get me (and therefore neither view nor read Fox News), I do think there is some credence to the item. (Of course, a “Snopes check” shows a mix of half-truths. But, if it ain’t all true, it ain’t true – kinda’ like the gas, you know.) More details on that follow.
While residing there, I also noticed the same, and noticed that the price for 100% pure gasoline is higher than for the 10% ethanol blend. One day, while pumping the 100% gasoline at a Chattanooga gas station, I happened to speak with a gent at the adjacent pump about the difference. He shared an observation with me which I thought quite interesting, and one which certainly seemed reasonable.
He said that in an “accidental” experiment, he purchased some 10% ethanol blended gasoline for use in his lawn mower. He then poured some of the 10% ethanol blended gas into a glass jar, and let it set out at least overnight (or a bit longer). He observed that it had become cloudy from the accumulation of humidity.
While I’ve never tried such an experiment, I do note that many years ago, on occasion, I would run my little carbureted Toyota’s gas tank empty, and would then fill it up with 1 gallon each of Methanol, 100LL, Toluene, Xylene and Methyl Ethyl Ketone. I did so for at least two reasons: 1.) to get any water in the fuel tank & system out, and; 2.) to “clean out” any deposits that may have formed in the fuel system.
Angola, Africa’s second-largest oil producer, is regarded as one of the most corrupt countries in the world. And American oil lobbyists are only making the situation worse: They are exploiting Angola by seeking to delay and weaken the implementation of a crucial U.S. transparency law.
That law, Section 1504 of the Dodd-Frank Act, also known as the Cardin-Lugar amendment, promises a breakthrough in preventing dirty deals and illicit payments being made for natural resources around the world, similar to the shady transaction recently uncovered by Foreign Policy. If implemented fully, the law would make U.S. oil and mining companies disclose the payments they make to governments across the world, including in Angola. However, oil lobbyists have been making misguided arguments that laws in Angola and three other countries prevent the required disclosures.
Off Shore Oil Drilling Rig – MARTIN BUREAU/AFP/Getty Images
Angolan officials secretly profiting from the country’s oil riches is not a surprise. It is only the latest episode in a sad history that goes back for decades. Global Witness, where we work, began exposing the complicity of the international oil and banking industries in the plundering of state assets during Angola’s 40-year civil war in our 1999 report A Crude Awakening. This was followed by our 2002 report All the Presidents’ Men, which called on the oil companies operating in Angola to “Publish What You Pay” (PWYP). Under this rallying call, Global Witness co-launched the PWYP campaign, which is now an international coalition of more than 790 civil society organizations in over 60 countries, including Angola, advocating for transparency laws such as Section 1504.
These efforts are intended to prevent scandals similar to the Trafigura deal covered in Foreign Policy, which provide a glimpse of the endemic corruption in Angola‘s oil industry. Only a few days before Foreign Policy published its story, media reports about leaked documents relating to other corruption claims caused the share price of SBM Offshore, a Dutch oil services company operating in Angola, to plummet 17.9 percent when markets opened. SBM released a statement challenging the validity of the leaked documents, saying that they are partial, taken out of context, contain outdated information, and are not representative of the facts. SBM had also already disclosed to its investors that it was conducting an internal investigation into questionable payments in Angola. However, the dramatic stock drop suggests that SBM investors had not anticipated the scale of the corruption risk exposure.
Posted by Warm Southern Breeze on Saturday, February 22, 2014
At the federal level, TEApublican types have decried our national deficit, much – if not most – of which came about as a result of placing the price of a decade of warfare on a proverbial credit card. I refer, of course, to the Persian Gulf War, Gulf War II, Operation Desert Shield/Storm and the invasion of Afghanistan, etc., all of which occurred during the previous administration.
Compounding that problem was that corporate and personal income tax rates upon the wealthiest was cut, while simultaneously, the veritable house of cards was crumbling, having been built upon the miry, sinking sands of Wall Street deregulation & greed gone wild.
Nevertheless, as our nation has struggled and clawed its way back to some semblance of fiscal sanity, there have been voices arising whom assert that the federal government’s “bailout” of banks & other large, corporate enterprise has been a gross mistake, and that such a bailout should have never occurred. And, while there will doubtless be volumes written, and debates held about the good and the bad of the ordeal, what’s been done, has been done, and it’s practically all over, but the crying. So the only thing we can do now, is live & learn, and move on.
And yet, respecting one underlying problem which arose corollary to the matter, is the loss of jobs here at home. Again, it was complicated by ‘globalization,’ which – good, bad, or indifferent – is Read the rest of this entry »