Monday, April 14, 2008
World Bickering Starts As Oil Prices (and their implications) Bite
Brent Crude Oil is now $109.34 (up 0.54%), and we can already clearly see how countries (and their populations) are dealing with higher food and fuel prices. They're moaning. In many countries there are mass protests. Blame, argue, jump up and down. Prices are going to get worse, not better, and people's reactions, in step, will become more inflamed.
New wave of food protests
At least two dozen deaths have been reported in riots sparked by a sharp increase in food and fuel prices around the world, most recently in Egypt, Senegal, Cameroon and Côte d'Ivoire.
We can generally anticipate (in South Africa in particular) a worsening scenario with regard to the affordability of basic services. Civilian reactions are likely to exacerbate these conditions, culminating in civil strife, looting, burning and pillaging.