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U.S. too vulnerable to rising oil and food prices

Posted on 09 March 2011

From CNN: Last Friday, oil contracts traded in New York closed at $104.42 per barrel, levels not seen since September 2008. This second spike in as many weeks comes after fierce fighting in Libya has raised fears of an extended civil war and the shutdown of what the International Energy Agency estimates might be more than 1 million barrels of oil production per day.
Reuters is also reporting that hedge funds and big speculators have weighed into the market, seeing the real possibility of sustained high prices for petroleum……………………………………….Full Article: Source


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