Global Food Crisis


Increasing worries for Bush

Posted by: tilakrishi on May 5 2008  |  Comments  (0) Leave a Comment




There seems to be no end to worries for the U.S. President George W Bush, and all because of the economic prosperity of the surging middle class in India. Not only are  some Indians eating more and better and driving up food prices but also joining the race to buy more and bigger cars. Result, oil hits high; some in U.S. see $4 a gallon this spring and $5 in summer. The increase could not come at a worse time for the economy. The costs could exacerbate the nation's economic woes, piling a fresh energy shock on top of the turmoil in credit and housing. Any day now, we can expect Bush to blame India and China for being the relentless drivers behind higher prices of gas, as the analysts estimate increase in global demand of gas by 1.4 million barrels a day this year, mainly in India and China. Indeed, the rising living standard of the middle class in India is the biggest worry for Bush, and there seems to be  no end to it.



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