Farmers and food executives appealed fruitlessly to federal officials yesterday for regulatory steps to limit speculative buying that is helping to drive food prices higher. Meanwhile, some Americans are stocking up on staples such as rice, flour and oil in anticipation of high prices and shortages spreading from overseas.***
Costco and other grocery stores in California reported a run on rice, which has forced them to set limits on how many sacks of rice each customer can buy. Filipinos in Canada are scooping up all the rice they can find and shipping it to relatives in the Philippines, which is suffering a severe shortage that is leaving many people hungry.
And then you have this:
Noel Bosse and Ken Davis watch as the numbers keep spinning at the gas pump — 70 bucks, 80 bucks. Gulp, guzzle, then it stops: $101 for about 25 gallons.
The $100 fill-up has arrived in the United States.
“I think it’s absolutely ridiculous,” Bosse says with disgust.
For all the Canadian readers who are upset they don’t get to contribute to the Obama campaign, here is how you can help. We have six more months of Bush, and at this rate, what we need most from our allies are a stable currency and the willingness to send in the RCMP to help stop the food riots. Thanks in advance.