Friday, May 05, 2006

... If Latin America’s vast resources are handicapped by the leftist movements occurring there, it’s one more macroeconomic force that will send natural resource prices higher, igniting yet another round of inflation in the years ahead.

Don’t take this lightly. At stake are ...

More than 6 million barrels a day of crude oil production. That’s 30% of the U.S. consumption needs of 20 million barrels a day of oil.

63 million tons of coal.

1.9 million tons of copper smelter production. 378 tonnes of gold. More than 258 million ounces of silver.

Clearly, the political move to the socialist left in Latin America has dire implications for the world’s supplies of natural resources, and consequently, global inflation.

posted by Karl Ortenburg @ 3:08 PM

3 Comments:

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