By Harry Moran, CFP® AIF®


The second annual Slow Money National Gathering took place on June 10th and 11th at Shelburne Farms on the spectacular shore of Lake Champlain just south of Burlington, VT. In such an idyllic setting, it might’ve been easy to forget about the ongoing devastation in the Gulf, resulting from the BP oil spill. Spending two days with a diverse and passionate group committed to a building a sustainable model for reconnecting investors with their communities and supporting small, local food businesses, the tragic events in the Gulf were however very much on our minds. Recognizing the cruel irony that this oil spill is occurring in what is already a dead zone due to agricultural run-off carried down the Mississippi River, heightened our awareness and gave increased urgency to our discussions.

Given the distance traveled by much of the produce filling the bins at our local supermarkets, our system of industrial agriculture really is, in noted food industry commentator Joan Gussow’s words, “floating on a sea of oil”. The catastrophe in the Gulf is another unsubtle reminder that our current agricultural system, which is predicated on cheap oil to allow the shipping of vegetables and meats thousands of miles, is clearly not sustainable. The average American foodstuff travels approximately 1500 miles before it reaches our tables. Living here in the fertile Hudson Valley, it’s hard to imagine that approximately ninety percent of all the fresh vegetables consumed in the United States are grown in California’s San Joaquin Valley.

While the implications of the tremendous amount of fuel associated with long distance shipping may be fairly obvious, we also need to consider the impact of the use of oil and oil equivalents in the manufacturing of inorganic fertilizers, operation of farm machinery and irrigation. Approximately forty percent of energy used in the food system is used in the production of artificial fertilizers and pesticides. Producing and distributing nitrogen-based fertilizers require an average of 5.5 gallons of fossil fuels per acre. According to one study, a total of 400 gallons of oil equivalents are needed annually to feed each American under the current industrial agriculture and factory farming model. In a very real sense, we are eating fossil fuels.

While the most obvious way that small, sustainable farms help reduce the nation’s dependence on fossil fuels is by selling their products locally, sustainable farming practices also have the potential to reduce fossil fuel dependence by avoiding wasteful production practices. The USDA estimates that increasing the efficiency of all our farmland’s irrigation systems by just ten percent would create annual savings of eighty million gallons of diesel gasoline spent on pumping and applying the water. Exercising proper soil conservation techniques can also help reduce fossil fuel usage. For example, the USDA estimates that no-till farming can save about 3.9 gallons of diesel fuel per acre of land by decreasing the use of diesel-powered heavy equipment.

Small, pasture-based livestock farms take advantage of natural cycles: the animals feed themselves on grass and distribute their manure themselves, fertilizing the pasture as they go. Rather than fossil fuels, they need only rain and sun to make the system work. Our factory farms have achieved remarkable levels of efficiency and productivity but at a great cost to the environment, soil and water quality, animal welfare, food safety, workers’ rights, farmers and local communities.

To support this emerging sustainable agriculture community, more efficient and practical vehicles are needed to facilitate investment in local food concerns. At the Slow Money Gathering, we were treated to inspiring presentations by 25 passionate and creative small food entrepreneurs in our region who have vital, growing businesses but need more capital to achieve the level of scale needed to be competitive and prosperous over the long haul. As this movement continues to gather momentum, individual investors will likely have an increasingly broad array of vehicles available to help accomplish this.

As consumers, we can support this community now though by buying as much locally grown and produced food as possible. Visit one of our great farmer’s markets, join a CSA or grow your own. In addition, we can try to avoid purchasing processed foods and choose products with minimal packaging due to the major energy use involved in production. Eliminating or reducing our meat consumption also offers great energy savings, since meat is the least fuel-efficient food we have. Large quantities of energy are required to cultivate, harvest, and ship animal feed, house, transport and slaughter animals, process and package their meat, and refrigerate it until it’s cooked.

While the magnitude of the environmental, social and financial damage from the oil spill is hard to grasp and deeply troubling, this crisis may serve as an effective wake up call that, as a nation, we need to make major changes in our energy intensive lifestyle now. This situation is presenting a real opportunity to make meaningful progress and supporting local food businesses is one relatively easy, tangible step we can take to help nurture a sustainable and restorative economy centered on place and on connection to our communities as we continue the transition from fast oil to Slow Money.

Harry Moran helps socially conscious investors define and achieve their highest goals by
aligning their money with their values. A 24-year veteran of the financial services
profession, Mr. Moran has held the Certified Financial Planner® designation since
1991. He is a network member of First Affirmative Financial Network, a national
professional organization dedicated to meeting the needs of the socially conscious
investing community. Mr. Moran can be reached directly at Cornerstone Financial
Advisors at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 518-877-8800.

Mention of specific securities, funds, or companies should not be considered an offer or a
recommendation to buy or sell the security, fund, or company. To determine the
suitability of any particular investment, please consult with your investment adviser.
Remember, past performance is no guarantee of future results and no investment strategy
can assure success. The opinions expressed are those of the author and may change
without notice. Harry Moran is a registered representative offering securities through
Cadaret, Grant & Co., Inc., member FINRA SIPC. Cadaret, Grant is not affiliated with
Cornerstone or First Affirmative.