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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: CommanderCricket who wrote (102069)	6/4/2008 10:25:49 AM
From: CommanderCricket	Read Replies (1) of 206176

$120 oil doesn't faze Chinese consumers blogs.moneyandmarkets.com Posted Tuesday, June 3, 2008 by Tony Sagami I have talked to dozens of regular, everyday working Chinese during this trip and not one person has vigorously complained about the price of oil. Why not? Other than the very rich, most Chinese use public transportation or bicycles to get around. Plus, the price of gasoline is controlled by the Chinese government and highly subsidized. The Chinese care a lot more about the price of a bushel of wheat than a barrel of oil. Rising oil prices may put send the U.S. into a recession, but the impact of high oil prices in Asia is much more muted.

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