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Welfare for Rich Welfare for the Rich: Two articles from Grist Magazine: Multi-millionaire "family farmers" continue to receive millions in agriculture subsidies. The five largest oil firms make record billions in earnings this quarter, while continuing to collect oil subsidies from U.S. government. Meanwhile, consumers pay more at the pump and California's water supply is being depleted.
 Thanks in part to a recent public-relations blitz and some crucial assistance from the Bush administration, Big Agriculture seems to have won California's decades-long water wars. Irrigation districts in California's Central Valley are signing federal contracts that ensure taxpayer-funded water supply for the next 25 to 50 years. Meanwhile, multi-millionaire "family farmers" -- many of whom live in mansions miles from their mega-farms -- continue to receive millions in agriculture subsidies. Thus, taxpayer-subsidized water is pumped uphill with taxpayer-subsidized electricity to nourish taxpayer-subsidized crops. Not a bad deal for what state Rep. George Miller (D) calls "the most politically powerful welfare recipients in the world." Meanwhile, rivers and estuaries in northern California -- which received more water after conservationist campaigns in the 1990s -- are once again getting shorted and seeing their fisheries decline precipitously. Perhaps it's time for eco-groups to make an ad that shows a fish in overalls, crumbling a clump of dirt, squinting into the distance. Save the Family Fish! Ol' Dirty Bastards Oil companies made record profits, and all we got was this moral outrage Pity the poor oil firms: The five largest are expected to reap a record $28 billion in collective earnings this quarter, and all signs point to a lucrative six months to come, but they can't brag about it -- at least not publicly. If they did, people might ask inconvenient questions, like: Why are we making you rich by paying so much for gasoline right now? Or: Why are we facing freezing our heinies off this winter because we'll have to choose between eating and heating our homes? Or even: Why is an industry at the peak of profitability getting gajillions in handouts from Congress? To avoid this kind of unpleasantness, firms may accentuate the negative in their upcoming financial statements, loading up on special charges like hurricane-related repairs and possible marketing losses, although higher prices for oil and gas are expected to more than make up for the costs of fixing damaged Gulf Coast oil and natural-gas infrastructure. straight to the source: The Wall Street Journal, Russell Gold, 25 Oct 2005 (access only for subscribers) Grist Magazine: Environmental News and Commentary
 ©2005. Grist Magazine, Inc. All rights reserved. Gloom and doom with a sense of humor®. Grist Magazine, 811 First Avenue, Suite 466, Seattle, WA 98104 USA Phone 206.876.2020 | Fax 253.423.6487 | grist@grist.org Add This Entry To Your CureZone Favorites! Print this pageEmail this page  Alert Webmaster
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