What US does

U.S. farm subsidies in 2005 rose 68% to the highest level since 2001, according to a watchdog group that wants congress to reduce crop support payments in agriculture legislation that lawmakers will debate next year. The payments help raise total farm income for the year to a near record $ 73,8 bn, according to the US department of agriculture. The Environmental Working Group say the payment distort trade, harm economic development in poorer nations and benefit large agribusiness instead of small farms.

Los Angels: Marijuana is now the biggest crop grown in US exceeding traditional harvests such as Wheat, corn and Soybeans, say a new report, The study shows that 10,000 tones worth $ 35.8 bn is grown each year, the street value would be higher. This dwarfs the $ 23 bn worth of corn frown, $ 17.6 bn worth of soyabeans and $ 12.2 bn worth of wheat. The author Jon Gettman says, the figure show the war on drugs is not working / illicit marijuana cultivation provides considerable unreported revenue for growers without corresponding tax obligations to compensate the public for social and fiscal costs to [its] use.

Brazil has a large and diverse economy that has gained significant technology-production capabilities in several critical sectors. At $ 1.1 trillion, Brazil’s GDP in 2005 was significantly larger than India’s $ 785 billion economy. Even in purchasing power parity (PPP) terms, Brazil’s $ 1.7 trillion economy compares well with India’s $ 3.8 trillion economy once population size is accounted for. It is not just manufacturing and services either, Brazil is an agricultural superpower, from which India could learn a lot.

Washington: Iran’s nuclear ambitions are motivated not just by a desire for regional Supremacy, but by a potentially devastating crisis in its oil industry, a US researcher said in a report.

Iran’s image is of a muscular oil producer with plentiful reserves, but in fact it could soon face its own energy crunch owing to failing infrastructure and lack of investments, Roger Stern at Johns Hopkin’s University said.