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US consumerism

Written By : Praneet Singh Sacramento CA . I think Ravin C Naidu (FS 13/6) is on to something when he talks about the rise in cost of food and
12 Jun 2008 12:00

Written By : Praneet Singh Sacramento CA . I think Ravin C Naidu (FS 13/6) is on to something when he talks about the rise in cost of food and bio-fuel.
The scenario he paints is already playing out in this part of the world.
The price of corn has skyrocketed in the USA as most farmers are selling it to ethanol producers. If you are observant, you would notice that corn syrup is a major component of many foods.
All this, in my opinion, because of a scam called global warming. Thirty years ago, the same scientists were worried about global cooling.
There is one area in which I disagree with Mr Naidu. Purporting that America is responsible for all the misery of in the world is a rather sweeping generalisation. A more precise point would have been to say that corporations are ruining the world in favour of their bottom line.
Americans aren’t spared by the ever increasing cost of basic items. Rice in the USA has gone from $6 for a 20-pound bag to $25. Gas (motor vehicle) has gone from 21 cents per litre to nearly $1 a litre.
As for the oil price, it is being pushed higher by speculators. It is still costing the Saudi’s $2 to pull a barrel of crude oil out of the ground. So the question is why is a barrel of oil selling at $138 a barrel? Two words: Bottom line.
Anyway, whatever goes up must come down so let’s just wait for the crude oil price bubble to burst.


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