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Scooped by SustainOurEarth onto Sustain Our Earth |
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"The proponents of basic income claim that we deserve it because our societies are so rich. The problem is that this richness does not come from nowhere. A part of it is the product of a a failing but still vigorous imperial system which transfers wealth and resources from the south to the north under threat of military force. Another part come from the frenetic overexploitation of non-renewable natural resources, which basically means we have stolen it from our descendants. For what is probably the most favored class in the whole human history, past and future, to claim it deserves to divert still more resources so as to be able to live well without contributing anything is pure unadulterated entitlement."
Good arguments against the concept of basic minimum income. Via Willy De Backer Delete the scoop?
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"This combines with some sobering news from the EIA, which notes in its country field on Saudi Arabia, “One challenge the Saudis face in achieving their strategic vision to add production capacity is that their existing fields experience 6 to 8 percent annual decline rates on average in existing fields, meaning that the country needs around 700,000 bpd in additional capacity each year just to compensate for natural decline. Decline estimates for Saudi Arabia vary widely, however.
The Ministry of Petroleum maintains that decline rates in Saudi Arabia are around 2 percent annually. Saudi Aramco has stated that it will also conduct additional drilling at currently producing fields in order to help compensate for the natural declines from the mature fields."