June 27, 2008

Website and blog promote 'Food Price Truth'

Just as oil hit $140 yesterday (a new record, of course), I came upon a new website and blog.

The website, at www.FoodPriceTruth.org, contains a plethora of information, statistics and the like, and in a consumer-friendly way. It also highlights the ethanol smear campaign.

The site's blog -- at http://blog.foodpricetruth.org -- is equally good and worth a look. So you don't have to visit the site every day, be sure to subscribe with a news reader or through your Google, Yahoo or other home page.

Oil hit $140 for various reasons, but a line in an article on CNNMoney.com caught my eye:

According to a report by the Bloomberg news service, Shokri Ghanem, chairman of Libya's National Oil Corporation, said reductions may be made because the market is oversupplied.

Is the market really over supplied? Saudi Arabia basically told President Bush the same thing last month, even though the country said it now plans to boost oil production. Since it made that announcement over the weekend, by the way, oil prices have done nothing but go up. Something just doesn't add up, does it?

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