Energy: Oil, Agriculture, Food, Commodities & Cost of Living (7)

  • ZeroHedgeGaddafi Starts Bombarding His Own Oil Fields
  • John Robb / Global GuerillasJOURNAL: Oil > $100 Crunch time ahead (again)?: All of the excessively financial leverage and fraudulent derivative wealth we had during the last melt down is still in place. … No reforms were made… Nobody at fault for the fraud that led to the last melt down went to jail, so behaviors haven’t changed.
    We’re worse off than before. Median incomes in the developed countries continue their steady decline. Assets are depleted from the last meltdown. Any hike in gas [petrol] prices will hit the incomes of the average person like a sledge hammer…
  • ZeroHedgeWhen Corn Goes POP!: Last week, the price of corn again went through the roof. For many readers this will deliver some déjà vu feelings, but again corn climbed up almost 15 percent in only five trading days. We were also stunned by the price movement, although it’s become common action. It’s still difficult for a human getting used to such vigorous moves on such a short notice. But getting used to this kind of price action in the commodity complex is probably the best thing we can do, as we are foresee more price madness in the coming years.
    The reasoning behind the price action is mostly caused by the same simple logic: a lack of sufficient supplies versus a huge demand.
  • DC VelocityCass freight index shows costs outpacing tonnage: Tightening capacity and soaring diesel fuel prices are driving up shipping costs.
  • New York TimesRush to Use Crops as Fuel Raises Food Prices and Hunger Fears
  • BloombergCorn Rises to Highest Price Since 2008 as Wet Weather Threatens Planting
  • VietNamNetDelta diesel scarcity hits rice harvest, fishing: An acute diesel shortage has hit the Mekong Delta in the last few days because of smuggling to Cambodia where the fuel costs more.
    With the winter-spring rice harvest peaking, farmers, who require the fuel for their pumps, are forced to queue at gas stations from early morning.
    For the last several days, many filling stations in Long An, An Giang, Kien Giang, and Dong Thap have in fact stopped selling diesel.
  • Fish Info & ServicesRising fuel prices reduces shrimp production; Nicaragua: … shrimp catch levels are low in the country as a result of increased operating costs mainly due to an increase in fuel prices.
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