Daily Archives: November 7, 2011

Minister should release military reports on oil supply disruption plans

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Reduce oil dependence for National Security, says candidate

8 Nov, 2011

The New Economics Party has sent in an Official Information request to the Minister of Defence to ask him to release relevant military reports advising us to reduce oil use for security reasons. The candidate for Wellington Central, Laurence Boomert, said have now been major military reports on oil in both Germany and USA.

A report was released a week ago to Senate by a prestigious Military Advisory Board In Virginia, USA. The report for CNA (cna.org/news/releases/) calls for a 30 percent reduction in US oil use over ten years to reduce ‘grave national security risks.’

Boomert said the report advised that even a small interruption of the daily oil supply impacts our nation’s economic engine, but a sustained disruption would alter every aspect of our lives – from food costs and distribution to what or if we eat, to manufacturing goods and services to freedom of movement.

“USA get their oil through the same shipping routes as we do – through the Strait of Hormuz. They have analysed what would happen in the event of a complete shutdown of a strategic chokepoint like the Strait of Hormuz, the international passageway for 33 percent of the world’s seaborne oil shipments.”

“If Iran pre-empted an attack on their nuclear plants by shutting off oil supply lines, New Zealand would be affected too”, said Boomert. The report calls for immediate, swift and aggressive action over the next decade to achieve the 30 percent reduction in U.S. oil consumption.

He said oil shocks are immediate and far-reaching, but at today’s level of consumption, a sustained disruption would be devastating. Worldwide demand for oil is increasing at an alarming rate.”

The report calls on national leaders to increase efficiency, diversify supply sources, develop alternatives and develop a national, cogent, dedicated and sustained energy roadmap that rises above partisan politics.

Boomert has previously worked on regional energy descent plans with Transition Towns and, as a Living Economies trustee, recently co-published Fleeing Vesuvius a comprehensive handbook for contingency planning in the face of energy, economic and environmental shocks to our system.

His party the New Economics Party has an oil reduction plan as part of its manifesto (https://neweconomics.net.nz) calling for a 4-6% per annum reduction plan for this country.

The German report said that by 2014 increasing prices of oil due to decline in supply would bring an end to our growth- based economic model, leading to widespread social unrest.

“We have entered treacherous waters but there is no one steering our ship”, laments Boomert

For further comment phone Laurence Boomert 03 525 8229 or 027 258 8807

 

Thoughts on the Occupy Movement and Bank Transfer Day

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I have just read the most wonderful piece of prose on the Occupy Movement by Charles Eisenstein, author of Sacred Economics. And today I have been interviewed for Planet FM on the world’s Problems so I am thinking about the Occupy Movement.

I think they will eventually win and suspect it will take years. It was so inspiring to read the Dominion this morning and see that St Paul’s Cathedral in London was letting the protesters camp there and that the Anglican church is launching a fierce attack on greedy bankers, accusing them of having “slipped their moral moorings.”

Nov 5th was Bank Transfer day, the day people are called on by the Occupy movement to transfer their bank accounts to a credit union. Credit unions didn’t go down in the Global Financial Crisis of 2008 and have excellent facilities for changing automatic payments. They have ATM machines round the country. A good choice if you don’t mind going without a credit card. They are financial co-operatives where the customers own the bank so you can go to their AGM and stand for their board. They don’t deal in derivatives.

Very recently the PSIS has managed to acquire bank status with the Reserve Bank and is now rebranded as the Co-operative Bank. Up to now their cheque books had to have the Bank of New Zealand them, presumably because BNZ did their credit clearing overnight. So you can change your account to them, but remember to keep a close watch on how they change. Will they deal in derivatives? They have the right to. Will they deal in shares and bonds and their derivatives? Will they get into insurance or wealth management services? They shouldn’t. Banks should be prohibited by law from doing anything but banking (the Glass Steigel Act in USA) and we had a similar prohibition before Roger Douglas deregulated the banks in the 1980s. Yes old fashioned banks were doing what old fashioned banks did best – taking in deposits and lending them out.