Economy

In the early evening of August 6, a series of explosions at the Richmond Chevron oil refinery in the San Francisco Bay Area sparked a huge fire that burned for hours. The fire sent a huge black cloud that went for miles over densely populated areas. Tens of thousands of residents were ordered to stay in their homes, with windows and doors closed. Local authorities issued a level three warning, meaning the cloud would cause eye, skin, nose and respiratory sickness.

With weary familiarity, Britain’s government deficit — the gap between what it spends, and what it receives from taxes — has been revealed as far worse than anticipated. Last month, the government borrowed £557 million ($846 million). In July last year, it saved £2.5 billion — spending less than it received in taxes. For the financial year since April, its total deficit has risen to £44 bllion, £11.6 billion higher than the same period last year.

The 34,000 employees who work at the Polar Business food production conglomerate in Venezuela have denounced what they describe as a violation of their labour and social rights. The workers accused the company of trying to destabilise the country in the run up to the presidential elections on October 7. Polls show that President Hugo Chavez is far ahead of his right-wing rival, Henrique Capriles Radonski. Chavez is campaigning on a platform of deepening the socialist transformation of Venezuela.

OK, nobody panic or anything, but it seems another key plank in Gina Rinehart's plot to destroy the Earth has been given the green light. Gina Rinehart's multibillion-dollar Alpha coal mine and rail project in central Queensland has been granted federal government approval, ABC.net.au said on August 23.

The Tasmanian Greens have proposed the “biggest reform in the Tasmanian electricity sector since the dams were built", in its response to an expert panel that reviewed the state’s electricity industry earlier this year. About 80% of the Tasmania’s electricity comes from hydro power, owned by Hydro Tasmania. This is sold to Aurora, the only retail company in the state. Another company, Transend, owns the distribution network. All three are government business enterprises.

In recent months, Prime Minister Julia Gillard has taken to highlighting the role of state electricity utilities in pushing up power prices. Average power bills have been rising rapidly — 69% over four years in NSW.

Julian Assange's speech from the balcony of the Ecuadorean embassy in London on August 19.

In Marikana, South Africa, at least 35 striking miners were shot dead by police and another 78 wounded on August 16. The incident, which was caught on tape, took place as police were trying to clear striking miners from a hilltop outside of the Lonmin mine. In response to authorities firing stun grenades and tear gas, a number of miners began to charge. Without warning, dozens of officers opened fire with automatic weapons.

The aricle below is an August 18 editorial in progressive South African magazine Amandla. * * * No event since the end of Apartheid sums up the shallowness of the transformation in this country like the Marikana massacre. What occurred will be debated for years. It is already clear the mineworkers will be blamed for being violent. The mineworkers will be painted as savages.

Coal seam gas (CSG) advocates are running a fear campaign against a backdrop of soaring electricity prices in New South Wales. They claim that unless CSG development in NSW goes ahead, household gas bills will triple. This is a frightening idea, given the stress already caused by electricity price hikes. Over the past four years the average power bill in NSW has gone up by 69% on top of inflation. Users face a further 18% price hike this year.

The highland agricultural community of Santa Rosa de Cajacuy, in Peru’s central Ancash department, has been severely affected by a toxic spill from the BHP Billiton and Xstrata-operated Antamina mine. Antamina is one of the world’s largest sources of copper and zinc. It relies on a 300 kilometre high-pressure pipeline to pump resources from the mountains to coastal port facilities.

In the lead up to its first budget next month, Queensland’s Liberal National Party (LNP) government has intensified its slash-and-burn approach to public and community services. In its first 100 days in office, it axed 7000 public service jobs. Premier Campbell Newman says a further 13,000 job cuts are to come. Newman has wielded his axe indiscriminately. School cleaners, teachers’ aides, child safety, paramedics, firefighters, local courts, QBuild tradesmen and apprentices are all in the firing line.