OT-Bussiness Article

Submitted by MFDoom_ on
I'm not one to be a huge fan of OT articles but found this one pretty interesting. Basically, this guy made a killing betting against the sub prime mortgage industry and felt like shit about it. The article is the letter he sent to all his investors. Gotta love the last paragraph as well. http://images.nymag.com/images/2/daily/2008/10/20081017_lahde.pdf

Ming The Merciless

March 30th, 2010 at 6:06 PM ^

read "The Emperor Wears No Clothes" by Jack Herer. Chapter 9 deals with 'Economics: Energy, Environment, and Commerce". Essentially, early oil barons like Rockefeller and Rothschild kept proponents of methanol based fuels (Like Henry Ford, who grew marijuana on his estate after 1937) out of the market with incredibly low prices. Early cellulose based fuels such as the kind produced in Iron Mountain, Michigan in the 30's used trees as their primary source of cellulose. Modern processing of hemp oil is up to 4 times more effective than that of using trees, and is sustainable. The bottom line conversion- each acre of hemp would yield ~1,000 gallons of methanol, or 500 gallons of gasoline. The US has 90 million acres of unused farmland used as a "soil bank", along with ~500 million acres of marginal unplanted arable land. Farming only 6% of continental US acreage with biomass crops (hemp) would provide all of America's gas and oil energy needs, ending dependence upon fossil fuels. The huge concentrations of biomass and clean burning fuels would also clean the environment. The catch is, first you have to get Government approval/legalization...THEN you have to deal with energy companies, petro-chem, pharmaceutics, liquor, tobacco, insurance companies and banks etc... So yeah, most likely not happening in any of our lifetimes.

bronxblue

March 30th, 2010 at 4:01 PM ^

A nice letter, but a little scattered. Reads like a guy who is happy to get out of the business, but is not above dropping some grenades on his way out. Still, thanks for the post.