Re: NEWS: Genoa Riots

From: Mike Lorrey (
Date: Mon Jul 23 2001 - 14:34:06 MDT

Brian D Williams wrote:
> I have been studying the goings on of this G-8 maneuvering for some
> time. It is constantly decried as "capitalism" but because of the
> heavy government involvement it appears instead to be some
> (possibly new) form of "global mercantilism".
> Opinions?

I think that there is a significant degree of conflict between europe
and the US/Canada/Japan coalition, though I think that it is good to see
Berlusconi seeking to break away from the european consensus on at least
some things like NMD. Europe seems to wish to retain its agricultural
protectionist policies. I think that this is primarily because the
european system is generally uncompetetive with the US and Canada, and
thus at a disadvantage. If it is to become competetive, it must abandon
many of its remaining left wing policies (which, you'll note, Berlusconi
doesn't quite share in).

Now, the interesting thing about the environmental aspects, you might
note, is that the europeans are still quite shrill about the US taking
on the bulk of the cost of the Kyoto agreement. Note that this means
that we are expected to pay more in energy taxes to pay for our
sequestration costs. With increased taxation, producers can increase
prices above and beyond this margin, and who is it that exports more
oil? Northern, socialist, europe, which funds its welfare state off of
oil revinues. If oil prices in the US go up, who makes more money? The
northern european oil countries that need more money from oil sales to
fund the baby boomers retirements coming up in another decade.

Now, you'd think: why would the northern european countries be for more
taxes on oil? WOuld this not decrease consumption? Only if sequestration
were not part of the picture. Because CO2 cannot be sequestered very
efficiently (unless, of course it is a forest doing it, but the euros
don't want us to count that), you must burn more energy separating the
oxygen from the carbon so you can store the carbon away. What this means
is that we are going to have to consume oil at a far faster rate in
order to sequester the carbon like the euros want us to do, thus
increasing demand, and thus increasing oil profits, thus fattening the
welfare cofferes of northern european countries.

And did I mention it is these same countries funding opposition to our
exploiting the Alaskan North Slope????? I wonder why?

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