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November 10, 2007
Global Shift in Wealth
Ouch: "Iinflated confidence in the Kremlin; new weapons in Chad and new petrochemical plants in Saudi Arabia; no-driving campaigns in South Korea and bigger sales for Toyota hybrid cars; a fiscal burden in Senegal and a bonanza in Brazil.
All thanks to the rising price in oil, The Washington Post claims: "High oil prices are fueling one of the biggest transfers of wealth in history. Oil consumers are paying $4 billion to $5 billion more for crude oil every day than they did just five years ago, pumping more than $2 trillion into the coffers of oil companies and oil-producing nations this year alone."
Posted by davidphinney at November 10, 2007 04:42 PM
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