Word: oil
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...Crude oil tops $140 per bbl. American consumers pay upwards of $4 for a gallon of gas at the pump...
...Mexico Fewer Dollars Equal Fewer Pesos For the first time since the Mexican central bank started keeping track, remittances to the country fell in 2008, from $26.1 billion to $25.1 billion. After oil exports, money sent home from workers abroad--mostly from the U.S.--is the largest source of foreign income in Mexico. The central bank expects remittances to keep falling in 2009, thanks in part to layoffs in the U.S. construction sector; Mexico's overall GDP is also expected to shrink. A January report from the Pew Hispanic Center showed that while the same percentage of Latino immigrants...
...which recently announced its first serious job cuts, is the behemoth of software, silently manipulating ones and zeros. Worlds apart, they've come together in the layoff business. Whether a company chops trees (Weyerhaeuser) or prices (Target), whether it sells Lipitor (Pfizer) or lumber (Home Depot), whether it services oil rigs (Baker Hughes) or cell phones (Sprint Nextel), job one is cutting payroll...
...rest of the world is already betting: that jatropha, like other nonfood sources such as algae, will revive a biofuels movement battered of late by charges that it diverts too many crops from too many mouths. India has set aside 100 million acres for jatropha and expects the oil to account for 20% of its diesel consumption by 2011. Australia, China, Brazil and Kenya have also embraced it. In December, a Boeing 747 was successfully test-flown by Air New Zealand using a 50-50 blend of jatropha and aviation fuel. (Watch TIME's video about biofuel tree farmers...
...been studying different varieties of jatropha and in February plans to publish his findings that trees like those the Daltons are growing (since 2006 they've planted 900,000 near Fort Myers) thrive so well in Florida that they may yield up to eight times as much oil as they do in places like India and Africa. That translates into as much as 1,600 gal. of diesel fuel per acre per year, vs. 200 gal. for stocks that grow in the wild...