EcoTech Daily: The Daily Five: Saturday, 17 May, 2008
Rita Wilhelm
· 1 year ago
I do twitter - I found your twitter which led me to your blog. ( And now just FYI- I am now following you!). lol My twitter is http://www.twitter.com/rita012 .
You were talking about Goldman Sachs. I'm very concerned about all the trading that's been happening on futures. Not only is it impacting the oil prices, but it is having a huge effect on grains prices, which is impacting the world food crisis. Poor people in places like Haiti are seeing their food prices go up 60 plus %!
Chris Baskind
· 1 year ago
Glad you found us, Rita. Yes: as we mentioned in Friday's Daily Five, predictions of runaway oil prices tend to be self-fulfilling. Ultimately, however, high prices tamp down consumer demand -- forcing price reductions. Little comfort with fuel prices driving up everything they touch.
Today's runaway oil prices are, unfortunately, just a taste of what will happen as supplies really begin to thin out.
All Comments
You were talking about Goldman Sachs. I'm very concerned about all the trading that's been happening on futures. Not only is it impacting the oil prices, but it is having a huge effect on grains prices, which is impacting the world food crisis. Poor people in places like Haiti are seeing their food prices go up 60 plus %!
Today's runaway oil prices are, unfortunately, just a taste of what will happen as supplies really begin to thin out.