Word: glutting
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Parts of the farm economy are doing well. Pig producers are thriving: demand is strong because herd size was cut last year and feed is cheap because of the grain glut. Dairy farmers stay fat at Government expense. The USDA will buy dairy products for 13.10 per Ib. no matter how low the market price drops. Such purchases this year will amount to $2 billion, or about $10,000 for every U.S. dairy farmer. The result is heaps of cheese and butter, paid for by taxpayers, 270 million lbs. of which the Government will give away this year...
Construction surges despite a glut in natural...
...immediate question the companies now face is whether there will be enough demand by consumers for the gas. The sagging U.S. economy, combined with falling oil prices and increasing energy conservation by consumers and industry alike, has created an unexpected glut that is dampening sales. Even so, gas executives remain optimistic. Says George Morrow, president of Natural Gas Pipeline, which is managing partner for the project: "We are looking long term, at markets ten years and more down the road. A future shortage of domestic energy is inevitable, and I am bullish on gas. All is hardly gloom and doom...
...statistics of growth, unfortunately, are also the statistics of glut. When the 2.4 million college students of 1949 swelled into today's 12.5 million, the educational system...
Yergin claims that America is suffering from an "oil-glut psychology": oil seems plentiful, OPEC looks to be in shambles, and promises of alternative energy sources seem just one technological step away. With the minds of American consumers and industries on other things, Yergin's doom and gloom approach is not very welcome. However, the appearance of this book and the attendant publicity surrounding it will hopefully begin to change prevailing attitudes. In all, Global Insecurity is a much needed prescription for our energy complacency...