Energy: Oil, Agriculture, Food, Commodities & Cost of Living (4)

  • Aengus Ó Snodaigh TDGovernment must address fuel poverty crisis: Speaking in the Dáil this morning Sinn Féin Spokesperson on Social Protection Aengus Ó Snodaigh has called on the Government to take urgent action on the fuel poverty crisis which has seen thousands of families struggling to pay bills.
  • Sky NewsWarning Of ‘Food Price Riots In The UK’: A senior economist at the worldwide bank HSBC has warned of civil unrest in Britain if food prices continue to soar… “Even in the developed world I think we have very, very low wage growth, so people aren’t getting more in their pay packet to compensate them for food and energy, and I think we could see social unrest certainly in parts of the developed world and the UK as well.”
    She went on to highlight the link between high food prices and the escalating cost of crude oil.
    “More and more we are seeing that some of these foodstuffs are actually substitutes for energy itself, particularly biofuels. So I think the energy markets are a significant contributor to these food price gains.”
    The comments come as the United Nations warned the cost of food is now at the highest level for 21 years and set to rise further.
    Food costs have gone up for eight months in a row, with the National Farmers Union forecasting the trend will continue for the rest of 2011…
    Rising prices contributed to riots across North Africa and the Middle East in the past several months that have toppled leaders in Egypt and Tunisia.
    Wheat has nearly doubled in price over the past six months and rising demand has caused the cost of sugar to rise by 14% over the past 12 months. [Wish our governments had paid attention to Ferris & Ó Snodaigh…]
  • Discovery NewsHigh Gas Prices May Turn Suburbs Into Slums: A study conducted by the Planning Institute of Australia suggests that the suburbs are too far away from the places where we work and play. As gas prices rise, people will move out of the suburbs and closer to urban centers…
  • CNBCUS Cost of Living Hits Record, Passing Pre-Crisis High: The cost of living for Americans is now above where it was when housing prices were in a bubble, stock prices at a record, unemployment low and consumer confidence was soaring. Something has gotta give.
  • ReutersIraq buys 50 diesel plants to ease power shortages
  • ReutersSaudi to boost crude burn for power generation in 2011
  • Nikkei.comTepco Sees 8.5mn-Kilowatt Power Shortage This Summer
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