Federal environment officials have failed to adequately oversee hundreds of thousands of wells used to inject toxic oil and gas drilling waste deep underground, according to a new congressional report.
The report, released Monday by the U.S. Government Accountability Office, is critical of the Environmental Protection Agency’s inconsistent handling of safety inspections, poor record keeping, and failure to adjust its guidelines to adapt to new risks brought by the recent boom in domestic drilling, including the understanding that injection wells are causing earthquakes.
Let’s face it: Eventually we will be told that drinking water has been contaminated, as drinking water becomes more scarce. What we’re being told today: Fracking is making America energy independent.
We’re trading drinking water for “energy independence” in the form of fracking, as people like the Koch brothers and the oil industry promote campaigns to attack wind power and solar power.
This is capitalism at work.
From the Energy Department:
Based on data compiled from quarterly reports, for the year ending March 31, 2014, cash from operations for 127 major oil and natural gas companies totaled $568 billion, and major uses of cash totaled $677 billion, a difference of almost $110 billion.
They spent $110 billion more than they received.
It has been going on for years. In 2010, the hole left behind by fracking was only $18 billion. During each of the last three years, the gap was over $100 billion.
Those fracking wells dry up quicly:
Fracked wells have nasty decline rates. They differ from well to well, with some estimates pegging the average declines at 50% to 78% by the end of the first year. After a few years, production might be down to less than 10% of production in the first year. In other words, the cash that has been drilled into ground has to be earned back within a terribly short time and has to be used to pay off the debt incurred in drilling the well. If not, the debt is left over, when the well is producing just a trickle.
So they drill more and more wells.
Facebook plans to track its users wherever they go on the web.
Facebook already installs cookies and pixel tags on users’ computers to track browsing activity on Facebook.com and Facebook apps, however the proposed change would meant that those cookies and pixel tags will also track users’ browsing activity on any website that includes a few lines of Facebook code.
There’s a feud and a labor uprising going on at Market Basket, a supermarket chain in the northeast.
It’s a company that treats workers right: Good wages, profit sharing, promotion from within.
When the board of directors decided to replace the CEO, workers revolted and began a strike which is crippling the company. The ousted CEO is offering to buy out his relatives’ half ownership of the company, and it’s reported that if the board doesn’t make a decision within days, the company’s value may drop precipitously — it’s reportedly losing $10 million per day.
The Boston Globe has a section devoted to the Market Basket events.
Read: How Market Basket keeps prices low (it’s not the walmart way).
Nearly one in four children in the United States lives in a family below the federal poverty line, according to figures presented in a new report by the Annie E. Casey Foundation.
A total of 16.3 million children live in poverty, and 45 percent of children in the US live in households whose incomes fall below 200 percent of the federal poverty line.
The annual report, tilted the Kids Count Data Book, compiles data on children’s economic well-being, education, health, and family support. It concludes that, “inequities among children remain deep and stubbornly persistent.”
World Socialist Web Site
The jobs situation is one reason why. Lower-paying jobs, single mothers less able to find jobs.
Another reason: cuts to social welfare programs.
It’s a sad testament when a country’s children live in poverty while a privileged few amass incredible wealth, and when the military-industrial complex and war hawks insist we spend trillions of dollars on the military and fighting never-ending wars.
Get the t-shirt:
In New York, tax credits are given to developers who include low-rent units in their housing developments.
Extell Development did that with its 33-story condo.
It also added a back door for use by the poor people who will be renting the low-rent apartments.
New York magazine
[Capitalism at its finest]
No gasoline or diesel required:
“Justice” and “To Protect and Serve” are not the same for all segments of society.
Many hotels have computer stations, where guests can use a computer.
The U.S. Secret Service is advising the hospitality industry to inspect computers made available to guests in hotel business centers, warning that crooks have been compromising hotel business center PCs with keystroke-logging malware in a bid to steal personal and financial data from guests.
Krebs on Security
Richard Wolf, at BillMoyers.com, offers an article recounting the history of capitalism (and alternate economic models), which does an excellent job of tracing how we got to where we are today: Factories and jobs moved to low-wage labor countries, the rich getting richer while the rest of us have seen lost jobs, wage decreases, and a growing disparity between the 1% and the 99%. Based on historical precedent, the logical conclusion is an uprising.
Sounds like a plan to me.
Read the Wolf article