G8 leaders say sharp rises in oil and food prices are a major threat to the world economy - Journal (english) 08.07.2008 10 UTC

Welcome Back. G8 leaders say sharp rises in oil and food prices are a major threat to the world economy. Oil prices have topped 146 dollars a barrel, and are now at 142 dollars, fifty percent up on the start of the year. Oil prices have surged on rising demand from emerging economies, the weakening dollar, and because of limited production capacity. And oil is attracting a lot of fresh investment cash.