Record High Oil Prices Threaten Latin America's Gains

miamimike says on Jul 18, 2008, 13:37:

But the same forces behind that prosperity are now, paradoxically, creating misery in the midst of bounty. Surging fuel prices have ignited inflation throughout the region, driving up the cost of food, whose prices were already on the upswing thanks in part to ravenous global demand for Latin America's farm products.

A gallon of gas now costs more than a typical day's wages in some countries in the region. Food prices have escalated an average of 15% over the last year, according to the U.N. Economic Commission for Latin America and the Caribbean. Prices of many staples have increased much more than that.

"Wait a minute. What did you just say? You're predicting $4-a-gallon gas? That's interesting. I hadn't heard that." -- Feb. 28, 2008 --George W. Bush, Washington, D.C.

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lpdiver says on Jul 18, 2008, 14:36:

What goes up must come down...IT IS not much fun at the moment though for many, I will agree.

ts

"cook some rice!"

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dwmte7 says on Jul 21, 2008, 11:26:

wool dreaming. common, brothers, you really think the sky is falling. i personally think these prices are here to stay.

greed, is won't to reconsider it's posture. the opec arabs, mutual funds and petro companies in general are in love with getting $140.00 a barrel for what the worlds economists say is really only worth $40.00.

personally, i don't know about latin america--although i can certainly imagine--but these prices are threatening us (my family).

dwmte

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tejasmarcos says on Jul 21, 2008, 19:40:

inflation has infected the world. technologies are changing and the arabs are gettin while the gettin is still good. world bankers are speculating oil and manipulating the price through private swaps. the common man controls shit except innovation.

trying to walk a straight line on sour mash and cheap wine...

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dwmte7 says on Jul 22, 2008, 08:41:

amen to that. those greedy rag heads. making bazillions of dollars while 90 percent of their populations are in squallor. forget the hype that it's free thisand free that. that's bs.

look at the islamic countries....at what's going on in sudan...somolia...pakistan. yemen. see any altruistic humanitarian efforts spilling out over the public? naw. this is the one point i credit chavez on at least he deals with his poor and dispossessed with the oil wealth.

dwmte

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