OilPrice.com: Global Food Prices Set To Soar As The Oil And Gas Crunch Continues
* Oil and gas prices have risen dramatically this year as a result of underinvestment and recovering demand.
* Higher fuel prices are weighing on global food supply chains, with transportation and farming costs continuing to climb.
* The hardest hit will, once again, be those living in developing economies that are still struggling to recover from the impact of the pandemic.
The potential for a knock-on effect of rising fuel prices to be felt by other industries is becoming more likely, as oil and gas prices continue to rise to an all-time high, companies are finding it hard to maintain their costs and may have to shift this burden to the consumer any day now.
Petrol prices have risen higher and higher this year, as oil makes a comeback in 2021 following a difficult year of pandemic restrictions and low demand. This has, of course, been aided by the OPEC+ curbs on production that restricted oil output across member states for the first half of 2021. And while production levels are slowly rising, some countries are finding it difficult to reach new OPEC targets as they revive their oil and gas industries, meaning the global shortage continues.
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WNU Editor: The last time global food prices were at this level was in 2011 (see above graph), and the result was the Arab spring and revolution spreading throughout North Africa and the Middle East.
Are we going to see a repeat, but in other parts of the world?
You tell me.
5 comments:
Way to go Joe!
Let's go, Brandon
Brought to you by traitors who knew full well that their illegal and inhumane vaccine mandates would cause massive unemployment and resulting supply chain disruptions
It's up to you
You don't have accept this blatant treason
ARREST THEM ALREADY
Very trendy issue you depicted here for the numerous readers and folks. It's very clear the rising price of many essentials closely relate to gas and oil market and its Supply Chain Management. The rising graph chart you inserted on this page was very meaningful. The reasons behind the soaring food price you explained were also very authentic. I like the way you made the important focuses. Pandemic Covid-19 really cocooned us and frustrated all the activities seriously. Hopefully, the situation now is almost under control for the invention of vaccine and all the activities are on moving to its normal status. So, we can expect, very shortly the market will be stable with its normal stats. Hearty thanks for focusing on such major issues.
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