Warming could trigger insect food frenzy

Global warming could bring about a veritable insect explosion, if past performance is an indication of future gains.

Just such a buggy invasion swarmed parts of the northern United States during an abrupt global warming event more than 50 million years ago, a new study of leaf fossils shows.

The study’s findings, detailed in the Feb. 11 issue of the journal Proceedings of the National Academy of Sciences, indicate that the same thing could happen during our current period of warming.

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This fossilized leaf shows where insects ate away at the plant some 50 million years ago during the Paleocene-Eocene Thermal Maximum.

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The other oil shock: Vegetable oil prices soar

KUANTAN, Malaysia: Rising prices for cooking oil in India are forcing residents of Mumbai to ration every drop. Bakeries in the United States are fretting over higher shortening costs. And here in Malaysia, brand-new factories built to convert vegetable oil into diesel for trucks sit idle, their owners unable to afford the raw material.
This is the other oil shock. Shortages and soaring prices for palm oil, soybean oil and many other types of vegetable oils are the latest, most striking example of a developing global problem: costly food.

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A PRECIOUS COMMODITY — In Mumbai, Rajkanya Kawle, 11, held palm oil for her family’s dinner. (Michael Rubenstein for The New York Times)

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Canadian Troops To Patrol US Cities As Food Riots Feared

Russian Military Analysts are reporting in the Kremlin today that the United States has, for the first time in its history, granted rights to a Foreign Army to have ‘full power’ over the life and death of American Citizens in their own country. their own country.

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Rising Inflation Creates Unease in Middle East

AMMAN, Jordan – Even as it enriches Arab rulers, the recent oil-price boom is helping to fuel an extraordinary rise in the cost of food and other basic goods that is squeezing this region’s middle class and setting off strikes, demonstrations and occasional riots from Morocco to the Persian Gulf.

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The cost of many basic foods, like at this market in Amman, has doubled. Some in the middle class are tilting toward poverty

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High food prices may force aid rationing

“The United Nation’s agency responsible for relieving hunger is drawing up plans to ration food aid in response to the spiralling cost of agricultural commodities”….

“The WFP crisis talks come as the body sees the emergence of a “new area of hunger” in developing countries where even middle-class, urban people are being “priced out of the food market” because of rising food prices.”…

“The price of rice and wheat has doubled in the past year while freight costs have also increased sharply on the back of rising fuel prices.”…

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Food fear beats climate change

A WORSENING global food shortage is a problem far more urgent than climate change, top Australian scientists have warned.
The Australian Science Media Centre briefing heard why prices for some staple foods had risen by as much as 60 per cent in the past year, and how dramatic price rises are expected to sweep across all staples in the near future.

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Tens of thousands camp out after Indonesian quake: official

JAKARTA, Feb 21, 2008 (AFP) – Tens of thousands of people camped outside their homes on the Indonesian island of Simeulue after a 7.5-magnitude quake that killed three, an official said Thursday.

The quake hit just off the remote island located near Sumatra on Wednesday, triggering panic across the region lashed by the earthquake-triggered 2004 Indian Ocean tsunami, which killed 168,000 people in Indonesia.

Read moreTens of thousands camp out after Indonesian quake: official

A ‘Moral Hazard’ for a Housing Bailout: Sorting the Victims From Those Who Volunteered

WASHINGTON – Over the last two decades, few industries have lobbied more ferociously or effectively than banks to get the government out of its business and to obtain freer rein for “financial innovation.”

But as losses from bad mortgages and mortgage-backed securities climb past $200 billion, talk among banking executives for an epic government rescue plan is suddenly coming into fashion.

A confidential proposal that Bank of America circulated to members of Congress this month provides a stunning glimpse of how quickly the industry has reversed its laissez-faire disdain for second-guessing by the government – now that it is in trouble.

The proposal warns that up to $739 billion in mortgages are at “moderate to high risk” of defaulting over the next five years and that millions of families could lose their homes.

Read moreA ‘Moral Hazard’ for a Housing Bailout: Sorting the Victims From Those Who Volunteered