Word: perring
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...food - rice, wheat, maize, sugar, milk - are soaring at rates of inflation not seen on such a global scale in a generation, resulting in hoarding, widespread food shortages and fears of outright famine in the world's poorest countries. Rice prices have nearly tripled since January, reaching $1,000 per metric ton last month in India. Wheat has doubled in price in a year and jumped 25% in just one day in February. Reeling from sticker shock, tens of thousands of people have stormed the streets in protest across the Caribbean, Africa and South Asia, demanding that their governments offer...
...while it looked like a boneheaded move. At the end of 1998, the price of oil fell below $10 per bbl. Regular gas sold for 90¢ a gal. While Internet billionaires were being minted to the right and left of him, Rainwater was getting poorer...
...guess what Rainwater did a few weeks ago, right after oil prices topped $129 per bbl. for the first time? "I sold my Chevron," he says. "I sold my ConocoPhillips. I sold my Statoil. I sold my ENSCO. I sold my Pioneer Natural Resources. I sold everything...
...definitely thinks oil prices are due for a fall. That's why he sold. But he makes no claim to having gotten the timing perfect. After he sold out in May and oil kept rising, past $135 per bbl., Rainwater briefly thought he'd made a terrible mistake. The price has since subsided a little, and he has calmed down a little. Still, he says, "It's a call that I've made, but who knows? Who knows if I'm early...
SEAN MCCORMACK State Department spokesman, after reinstating the scholarships per Rice's orders "She wasn't pleased...