DISQUS

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.