The U.S. economy is heading into a very serious inflation, and the value of the U.S. dollar is declining. We use too much oil, we waste too much oil and the price of our imported oil is increasing rapidly.



This increase in petroleum energy costs is passed on rapidly, through and into each and very part of the economy. This increase goes into the price of fuel for autos, for trucks, for trains, for planes, for tractors, for ships and for foodstuffs. Thus, the cost of everything is up sharply and still rising.



Food, all commodities, labor, healthcare, education, clothes, local state taxes, freight costs, fertilizer, corn and meat costs, all are going up and up. This increase inflation is also causing a large increase in credit card debt, and an increase in mortgage default rates. More families are losing their homes.



Inflation leads to recession, and recession causes an increase in unemployment. Recession will hit the poor doubly hard – few jobs and higher living costs for their families. Our new graduates will also find fewer good jobs available. This high cost of oil is also causing an increase in U.S. government debt. Something our grandchildren are going to have to pay for.



As a senior scientist, I am alarmed at this sequence of economic events, which will result from the rapid jump in the cost of oil. We in the U.S. will adapt, but for the millions of people in the poor third-world countries, the high cost of food will be catastrophic. We must reduce our use of oil, for it is a most precious, and limited, resource. Someday, in the not too distant future, oil will become very scarce and as a result, very expensive. Many millions of people will be fighting over this necessary, but scarce, natural resource. Worldwide economic and political turmoil will follow from this expensive oil.



What are the solutions? It is less government waste on pet pork projects (state and federal), more energy conservation and a drastic decline in the worldwide birth rate. When we try and raise the standard of living for all the 6.5 billion people on earth, it will accelerate global warming and put all of mankind at risk. The population of earth should be kept in balance to the earth’s limited resources, because these limited resources must last for thousands of years.

Joseph Warnell PhD

Lincoln


The U.S. economy is heading into a very serious inflation, and the value of the U.S. dollar is declining. We use too much oil, we waste too much oil and the price of our imported oil is increasing rapidly.

This increase in petroleum energy costs is passed on rapidly, through and into each and very part of the economy. This increase goes into the price of fuel for autos, for trucks, for trains, for planes, for tractors, for ships and for foodstuffs. Thus, the cost of everything is up sharply and still rising.

Food, all commodities, labor, healthcare, education, clothes, local state taxes, freight costs, fertilizer, corn and meat costs, all are going up and up. This increase inflation is also causing a large increase in credit card debt, and an increase in mortgage default rates. More families are losing their homes.

Inflation leads to recession, and recession causes an increase in unemployment. Recession will hit the poor doubly hard – few jobs and higher living costs for their families. Our new graduates will also find fewer good jobs available. This high cost of oil is also causing an increase in U.S. government debt. Something our grandchildren are going to have to pay for.

As a senior scientist, I am alarmed at this sequence of economic events, which will result from the rapid jump in the cost of oil. We in the U.S. will adapt, but for the millions of people in the poor third-world countries, the high cost of food will be catastrophic. We must reduce our use of oil, for it is a most precious, and limited, resource. Someday, in the not too distant future, oil will become very scarce and as a result, very expensive. Many millions of people will be fighting over this necessary, but scarce, natural resource. Worldwide economic and political turmoil will follow from this expensive oil.

What are the solutions? It is less government waste on pet pork projects (state and federal), more energy conservation and a drastic decline in the worldwide birth rate. When we try and raise the standard of living for all the 6.5 billion people on earth, it will accelerate global warming and put all of mankind at risk. The population of earth should be kept in balance to the earth’s limited resources, because these limited resources must last for thousands of years.
Joseph Warnell PhD
Lincoln