Monday April 04, 2005 | ${log.root}/lowem.log Inflation, Investing and Everything |
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... today the food system is even more reliant on cheap crude oil. Virtually all of the processes in the modern food system are now dependent upon this finite resource, which is nearing its depletion phase. The systems that produce the world's food supply are heavily dependent on fossil fuels. Vast amounts of oil and gas are used as raw materials and energy in the manufacture of fertilisers and pesticides, and as cheap and readily available energy at all stages of food production ... ... fossil fuels are essential in the construction and the repair of equipment and infrastructure needed to facilitate this industry, including farm machinery, processing facilities, storage, ships, trucks and roads. The industrial food supply system is one of the biggest consumers of fossil fuels and one of the greatest producers of greenhouse gases. Oil output is expected to peak in the next few years and steadily decline thereafter ... in the near future, environmental threats will combine with energy scarcity to cause significant food shortages and sharp increases in prices - at the very least ... The priority must be the development of local and regional food systems, preferably organically based, in which a large percentage of demand is met within the locality or region ... See also : (2005-04-04 23:57:30 SGT)
[Energy]
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Crude oil prices have reached $60.00 per barrel on NYMEX (Sep 2005 delivery) :
See also : (2005-04-04 20:08:14 SGT)
[Energy]
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