The global food and oil crises
The experts' vault
By: Compiled by Temitope Ojo and Shuyao Wang
Issue date: 10/9/08 Section: Perspectives
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Interview with Amanda Florek–Fleet Coordinator, Public Safety
Mount Holyoke News: How has the oil crisis affected your department’s operations?
Amanda Florek: I haven’t noticed any changes in the budget of the department. Rather, through the Lyon Share rental service, more students are borrowing the zip cars. It costs less as free gas is provided.
MHN: How has it affected the general Mount Holyoke community?
AF: Other school departments are likely to feel the crunch because they pay more now to rent fleet cars for road trips, to offset the rising price of gas.
MHN: Has the oil crisis affected you personally?
AF: Personally, I feel the crunch. My husband and I go up to Virginia often and have resorted to flying more than driving, since they almost cost the same now. Also, we have patronized rental services that give the option of renting a car with a full tank at a lower rate per gallon.
Interview with Sumner Stone–Cook, Blanchard Cafe
Mount Holyoke News: How has the oil and food crisis affected your department’s operations?
Sumner Stone: A lot of produce prices, like those of tomatoes and lettuce, have risen due to the cost of shipping. We therefore try to use a lot of local products for our operations. Additionally, the prices of process products, like gloves and cups, have gone up because petroleum is used in the production of these items. Flour prices have also increased across the board since power is used to process corn into flour and oil is used for the machinery. The fact that corn is also being used as a fuel has increased its price. Over the last year the price of flour has gone up over 50 percent.
MHN: Has the oil crisis affected you personally?
SS: Certainly. I am looking at getting a small car. My house is a 15-minute drive away but I am trying to reduce my costs.
Interview with Mary Jo Maydew–Vice-President for Finance and Administration, Mount Holyoke College
Mount Holyoke News: Given the economy’s downturn, how has the College been impacted?
Mary Jo Maydew: A significant impact to date has been energy costs, both direct increases in fuel and heating cost, and indirect, including the rising price of food and material for building. More widespread impact is expected in a variety of areas, including giving, financial aid and endowment returns. These changes will materialize over the next two to three years and the severity of the impact on the budget is not yet known.
MHN: How will the crises affect individuals?
MJM: Individuals will be affected in a number of ways. Those with investments, including pension funds, will see a decline in their values. This may cause retirees to take jobs and those nearing retirement to work longer. Some will not be able to support their mortgages and may lose their homes. Some will lose their jobs or will not be able to find jobs. Everyone is coping with higher fuel and food costs.