Economy

While G20 leaders barely made mention of the climate crisis at the June 26-27 G20 summit in Toronto, Pablo Solon, Bolivia’s United Nations ambassador, was in town to encourage action on the “Cochabamba protocols”. It is no surprise that Solon, also Bolivia’s chief climate negotiator, was not on the list of special invitees to G20 meetings. In April, Solon and the Bolivian government he represents organised the World People’s Conference on Climate Change and the Rights of Mother Earth in Cochabamba.
On June 5, New South Wales Teachers Federation state council voted to initiate a “Stop the Privatisation” forum to organise against the state government’s privatisation plans for the public sector. The forum will invite participation from the Public Sector Association (PSA), Fire Brigade Employees Union (FBEU) and other public sector unions. After the forum, the federation will initiate a public sector delegates meeting to discuss and organise a public sector-wide response to the privatisation agenda.
The world’s worst ever oil spill is also the biggest methane leak in human history, US government scientists have said. The US Geological Survey’s “flow team” has estimated between 4.5 billion to 9 billion cubic feet of natural gas have escaped from BP’s Deepwater Horizon rig since it exploded in April, Associated Press said on June 19. John Kessler, an oceanographer at the Texas A&M University, told AP the leak was “the most vigorous methane eruption in modern human history”. Scientists think methane makes up 40% to 70% of what is spilling from the damaged BP rig.
On June 22, Queensland unions won a court victory with the ruling that Queensland Rail had broken the law by not consulting workers over privatisation plans. “Queensland Rail has been slapped with a $600,000 fine after it failed to consult its workers over plans to privatise part of the company”, the June 23 Courier-Mail reported. “A Federal Court ruling earlier this month found QR breached 20 of its enterprise bargaining agreements by not consulting workers about the planned sell-off before it was announced.”
In July, Socialist Alliance election candidates will be taking a trip to the Northern Territory to personally witness conditions under the federal government's intervention into Aboriginal communities. SA youth candidates — and Resistance members — Jess Moore, Zane Alcorn and Ewan Saunders will join Indigenous activists, students, community groups and campaigners from across the country in Alice Springs for an important gathering of intervention-affected Aboriginal communities.
Our children are still being fed racist messages by toy manufacturers and stockists. A recent browse through Northlands K-Mart toy department led me to wonder: If all Baby-Borns are white, where did Wrestler Action Man come from? Despite catering to one of the most multicultural parts of Melbourne, Northlands K-Mart does not have a single non-white baby doll in its massive display.
British Petroleum (BP) has admitted it may not stop the Deepwater Horizon oil spill in the Gulf of Mexico until August — at the earliest. But despite the catastrophe, the US government’s Minerals Management Service (MMS) has given BP new leases for deepwater drilling. The MMS has rubber-stamped 198 new deepwater drilling leases in the gulf since the BP spill began on April 20. It awarded BP 13 of these.
Multinational oil companies in Nigeria spill more oil every year than has been spilled by BP in the Gulf of Mexico. Unlike the gulf disaster, most people are unaware of this ecological crime. There have been major spills in Nigeria since BP’s Deepwater Horizon rig exploded on April 20, but they have received hardly any attention from the international media. A May 12 explosion at a Shell installation turned 39 hectares of the Niger Delta into an oil slick, BBC News said on June 15. Two weeks earlier, an Exxon Mobil oil pipeline ruptured. It spewed a million litres a day for a week.
Large mining companies enjoyed a huge profit margin of 46.1% in 2008/9, according to figures released by the Australian Bureau of Statistics (ABS) on May 28. The mining sector as a whole has a profit margin of 37.1%, making it the most profitable sector in the economy, with professional and scientific services second (24.6%) and private health care third (21.5%).
The next time someone tells you that Marx or Marxism is outdated because capitalism is not as exploitative as it was in the 19th century, just crack open your copy of Capital, turn to the chapter on the working day, and compare its vivid depiction of the brutalisation of the British working class to the state of the working class in China today.

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