The Broome County legislature has been given an ultimatum: grant County Executive Barbara Fiala the authority to negotiate and sign a gas lease with a little known gas company or face a budget deficit that will require dramatic cuts to services and possibly a double-digit tax increase.
But there's much more to the gas lease deal that has gone unreported.
First, the land...
The Slow Money movement is gaining enthusiasm in direct proportion to the falling stock market, the widening oil spill, and, believe it or not, the loss of top soil. It's this last indicator that has venture capitalist Woody Tasch most worried. His latest interest is investing in small organic farms to provide local food. Why? For all the obvious reasons but also because globally 1/2 of 1% of the world's topsoil is being lost every year, due to erosion, overuse of pesticides, herbicides, and fertilizer. Organic farms put back nutrients into the soil to create top soil. They also create valuable social connections, local economies, and good food.
They will not, however, give you a huge return on your investment in terms of dollars and that's where slow money comes in. They believe that a 1 or 2% return (better than the banks) will create a more sustainable economy and that investors will be more connected to what they invest in.
For more information go to slowmoneyalliance.org or search Woody Tasch for recent interviews. And if anyone is interested in building a local slow money movement, please comment on this article.