Katrina Could Swamp German Economy

[Mari333]

Germany's economy minister has said he fears hurricane Katrina, which has devastated the southern US coast, could lead to a further rise in oil prices and dampen already weak domestic spending in Germany.



Minister Wolfgang Clement said a further rise in oil prices could have fatal consequences for German consumer spending, since a liter (0.26 gallons) of high-octane gasoline in Germany already costs more than 1.30 euros ($1.60), a record.



"The situation on the oil market is very serious," he said in Berlin on Wednesday. The record oil price, now at over $70 per barrel, is "a real catastrophe for people," he added







http://www.dw-world.de/dw/article/0,1564,1697229,00.html?maca=en-tagesschau_englisch-335-rdf-mp

[Kagemusha]

1. Serves 'em right for grinning at the US re: global warming

Even if they had a point, which I'm not necessarily conceding since hurricanes *are* events with a natural cycle which has been unusually low the last 30 years, it lacked taste and the government was not seen to be slapping such talk down. Like last time this sort of thing came up. Except this isn't Iraq. Germany gets to suffer with the US economically. Well, good for them. The environment isn't the only thing in the world that's interconnected.

[BooScout]

3. Huh?

So they were right about Global Warming and thus they deserve to have their economy wrecked? Because we reneged on our agreement to sign the Kyoto Treaty? Your logic confounds the hell out if me...........by golly it sounds almost Republican in nature. :eyes:

[anitar1]

6. Rush Limpbaugh was raving about how natural this hurricane is

and railing that the "leftwind nuts" are trying to make the storm political. That was in 5 minutes, and I turned it off.

[Brundle_Fly]

7. it was a german

minister....who said something about it, not the German government.

Stupid remarks have been made by many US senators and congressmen, and they dont account for the government viewpoint.

Trent Lott, SpitBall Zel, etc etc...

[rodeodance]

2. and our oil guy said this am that it would be 'modest effects" on US

economy.

[Mari333]

4. This article says differently

http://www.economist.com/agenda/displayStory.cfm?story_id=4339099

[Karenina]

5. What a totally premature and cavalier statement.

:eyes: