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Oil prices hit a record $120 in New York today
by Kuwait | May 5, 2008 at 11:29 am | 392 views | 2 comments
NEW YORK May 5, 2007 11:20 EDT / 15:20 GMT - Oil prices just hits the $120 and moved higher, trading right now at New York market.
This is a record price for the oil prices. The higher it gets, the higher everything gets, encluding transportation, consumable goods, and.... food.
The worst senario if oil gets to $180 or $200. Who knows what impact that will have on civilization and prosperety as we know it.
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May 5, 2008 at 11:29 am by Kuwait, 392 views, 2 comments
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Comments (2)
at 11:51 on May 5th, 2008
What is the mood in Kuwait these days? Is this seen as a good thing for the local economy or are people worried about instability?
at 12:02 on May 5th, 2008
Kuwaiti people, like all people around the globe, are bothered with this sudden rise in food products and other high rising cost. Every thing skyrocketed, starting from lands, ending with food and clothes. Actually prices increased sharply in the last few months. The government with caring move, increased the salaries for all employees (goverment and private sectors) with KD120/US$380, but that still is not stopping the increase in prices.
In 2 weeks, there will be ellections for the new parlament.