From a blog by Tom Philpott:
Globally, demand for synthetic and mined fertilizer is exploding. Amid a bleak economy and a dismal stock market, one of the few seemingly sure ways to make money is to invest in fertilizer companies. The globe’s two largest fertilizer companies — Potash Corp. of Saskatchewan and Mosaic, which is two-thirds owned by Cargill — are practically printing money. In the last year alone, Mosaic’s shares have quadrupled and Potash’s have tripled, while the overall stock market has lost 10 percent. Meanwhile, Monsanto, the globe’s dominant purveyor of genetically modified seeds, has seen its share price double.
It is old news to environmentally concerned citizens that industrial agriculture has sterilized a large amount of soil. What is new, however, is the run up in corn prices and the amount of land that is being put back in corn production. What is also new is this year’s flooding.
Mr. Philpott reminds us that many forms of industrial agriculture do not replace the important micronutrients in soil….leading to depleted soil qualities for future generations. When less than 1percent of the American population farms, it’s difficult for the broader public to understand the issues…and the potential problems.
Richard Pace 