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United Nations

  • Posted on January 9, 2019 at 1:26 am

It is obvious that the latest developments concerning the price of fuels are having far-reaching global economic consequences, since the price of a barrel of oil has come to cost $130. The most obvious impact of this phenomenon is reflected in inflation and a subsequent reduction in purchasing power and consumption. The situation is aggravated even more attempts that made central banks put an end to inflation, rising interests and thus causing increased pressure in the mortgage market in personal debt, as well as the variable income securities. But this has already happened in history, and the world economies have found ways to adjust. Matters more worrisome emerged at the recent Summit on the security of the power of United Nations in Rome, where delegates from the world community discussed the global food crisis. It is sad to see that our insatiable demand for energy is also destroying some of the traditional systems of agriculture.

With the oil prices above the $ 100 per barrel, the fuels are becoming a very lucrative business. This industry is expanding at a galloping pace, and has resulted in the transformation of millions of acres of land previously used for food production for humans or animals in fields of fuel production. This reason was cited as the main cause of the rise in the price of food around the world. The food and economic crisis are the tongs of the Scorpion’s energy, but the Scorpion also has a tail. It is endangering our very existence on this planet. The uncontrolled passage of our use of fossil fuels is universally recognized as responsible for the global climate, a cause that contributes significantly to the extreme climatic conditions that are occurring around the world. Part of the attractive value of the biofuel is that it could help to limit the environmental impact of our dependence on oil. To know more about this subject visit Hillhouse Capital.