Monday, April 28, 2008

All thanks to Bernanke, who put bailing out investment banks ahead of fighting (commodity) inflation:

In the news:
Opec chief warns of $200 a barrel oil price

The president of Opec, the cartel of oil-producing countries, has given warning that the price of crude could hit $200 a barrel, sparking fears that rising fuel costs will force more businesses into bankruptcy.

Chakib Khelil, the Algerian Energy Minister and president of Opec, said that the falling value of the US dollar would continue to drive up oil prices as investors sought to store their wealth in other assets.


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